0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif" H! v. o9 T+ m( H- _8 j
Why bank will sell 借據給第三者???
$ O3 T6 z2 T, z+ x% m( \6 J( dI was so confused.....

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講到尾都係賺錢
7 ]1 {/ s3 c3 M6 W) u( Cso銀行可以不斷放款( Y+ y+ p6 @9 G" o; S
美國的房貸問題散佈到全世界1 Z4 K( m; Y( T  y$ N. ^8 L% \) U8 m
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)
2 G! l% `; T+ X) I$ _& C>arranger# a$ g* C9 H* F% Y4 g
>CDO(Collateralized Debt Obligation)
% v" Y0 G" i& I' Q2 Z. Z最後去到投資者

Kev

i thought it is the reason of rate of return.
  ~6 |6 M9 D. x! J* ?3 _CDs could have different ratings, AAA -> F," N2 C" c0 ]! `$ S" h
more risky ones would have higher premium (interest rate) as a compensation for an investment.
" S- H7 Z6 A0 g. Y- Vmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,8 G* J, I6 A; t) |6 m
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
3 N6 k6 L! a) _% qAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.6 ~- C; e+ B- p
similar to bonds, CDs trading in the secondary market have different value at different times,6 {$ d+ Y9 q% P$ g5 T0 |
normally the value is calculated by adding it's principle and interest. + P- u" o) ?- i8 d* O# \5 j, I- C
eg. the value of the mortgage+the interests to be recieved in the future. 0 k- X& j) {+ [9 S) m
banks who sell the CDs, could enjoy a few benefits like, the present value of cash and passing the risk of holding a debt to another party.
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7 F! K  A! e4 J1 M& [9 x. E' uim not quite sure if the multiplier effect does really matter in this case.
8 k! X& }) H, [+ m. k# b, f  z7 x( qin stock market, it's the demand and supply pushing the price up/downwards.8 q, O/ [( }8 A
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,* E8 V2 o& b. C7 o
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
' d% y& k6 P; p1 O. Z: lThe capital loss that ppl suffer nowadays, i believe, most of them does not really suffer a real $ lost yet as long as they dont sell their securities.
3 P( r5 w0 ~0 ubut the value of their assets did really drop significantly.
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ]

Kev

原帖由 balachiDavis 於 2008-10-8 04:09 PM 發表 http://www.26fun.com/bbs/images/common/back.gif$ M  E# w$ i8 E: |& j0 \! M
Refer to last example,& ~9 Z8 D$ o% w+ o5 r) }: d  c$ ]
that means bank A have no money because we borrow 10 dollars from bank A
- K3 m( H* p+ b% A7 gBecause bank A doesnt have enough cash on hand / o  K( G  q1 L/ d4 I' P
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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$ |: U% |& i# W1 K8 qA->B->C->D->E# |7 ~. x4 u# t, L4 f. R
so does it mean if E failed to pay D, : H; ]. r2 ^# G, l
all the B,C,D,E have to go bankrupt?+ v7 N6 d: o6 x9 y
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the multiplier just tell how much money created in a whole economy,
) y2 u/ i9 I5 z0 y: u" I' @, A" {in this case it doesnt really matter how much money is created,
; k1 _. T+ M/ R7 B) git's the problem of the debt itself.
/ }/ v$ B$ M) a* Jthe debt(securities) is bad, faulty, that harmed the whole system.

benny1219

原帖由 kerr12ca 於 2008-10-8 02:44 PM 發表 http://www.26fun.com/bbs/images/common/back.gif) E5 J/ g$ C1 e. Y- W4 G; |
小弟一直都唔明...
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: l! k8 z1 t( I/ f全世界都蝕錢，咁邊個賺緊錢呢?1 L" P4 Y8 ]2 \: h% X
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無可能淨係有人蝕錢無人賺架嘛...
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/ J3 Z; A' |" Z2 |敬請各師兄解答
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Thanks

3 M/ c3 k' H' O; g0 _5 ^/ {& r那些根本係 紙上財富  & `  p; I6 O+ ~
各式各樣的證券被炒到上天 你一樣唔賣那筆錢永遠都不是真的存在

qulapo

with regards to the current crisis, Chain of fools does a reasonable job of explaining what happened with a nice graphic4 f! J- B! ]7 P. I  {" B; O0 H4 @

! v3 i4 }* i; ^- z# t& `) ahttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
4 c  O5 O5 D1 p5 a- a  c" ]2 J7 Q: M當經濟好,投資銀行相信會賺錢, 物價既估值相對較高% @$ j7 q8 d: q8 H* Y" x
於是投資銀行就去搵銀行抵押借錢投資, 打個比喻1蚊既野借10蚊! Q$ f6 B2 c8 O( K1 q8 W. K
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦6 o( S- Z" K! |  `* A( P
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
! r' r" _) E  R6 n) H9 j計番回報率就已經係50%,所以可以好好賺2 k" d& L* N- J. n
前提係銀行之間要互相信任先可以咁樣借法
" F0 ]( B& _$ _9 D. `8 e8 n同埋個市場既前境要係好先得. k+ i) g2 ^- @% w+ m7 ?
但當經濟一差,公司估值趺了,物價不升反趺
' e2 n) A& G! K例如剛才說10蚊的, 趺到得番9蚊,
: w( S) k. u8 D$ v咁投資銀行一下子就要還11蚊, 一來一回變左虧200%$ H, [7 \3 _- t
所以你就會覺得D錢好似蒸發哂咁' G, u3 `" j3 m8 g* e; c1 o

  D- x+ }5 b# q3 o0 Z: h你都可以當標野咁諗, 個樣野多人可以狂升值,
* Y, S0 a+ N5 _; G但當冇人要既時候一蚊都唔值...中間D錢其實真係冇人話賺左~

kuru

唔係d錢蒸發, 而係比美國佬洗晒未來錢,
1 C% e+ O+ @/ r0 L$ y7 Q+ C淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 x7 `3 }* h: W' G8 }
呢刻樓市爆, 原本冇錢買樓既, 又係問銀行借但又唔留錢供, 既然冇錢還比銀行
$ g8 O9 h7 `+ ?* e# n6 V5 r咁你話d錢蒸發左去邊?

fcukyoukelly

原帖由 kuru 於 2008-10-12 05:08 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
2 E, V5 F7 t2 ^4 G5 I) T/ Y唔係d錢蒸發, 而係比美國佬洗晒未來錢,
" s, ?8 F4 N% I淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, $ Z7 o8 H$ M- A3 V' N$ b4 O
呢刻樓市爆, 原本冇錢買樓既, 又係問銀行借但又唔留錢供, 既然冇錢還比銀行
% k& z* N& Y: c; Z6 B! k咁你話d錢蒸發左去邊? ...

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/ H2 J0 ?. U- P8 V; x1 w& K7 f: c正係咁樣! q  N/ n& F" f0 w! H6 x) n5 B! ^
其實, 以個人立場去睇, 美國好多市民都唔怕銀行/財務/投資公司結業9 u* S( Z; C6 N0 U5 `" I$ j) E
分分鐘佢地唔使還錢
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再講, 美國人先洗未來錢應該係世界第一, 唔知點解無錢都可以買咁車買樓,* Y/ Z- F4 W# F# V& O5 s
連國家都係問人借, 不停發債券, 印鈔票$ r) |! `+ |, G# x
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產7 ?% P& `) f, A9 e: `7 `0 u' G
編編唔生產又使用物品使用得最多, 美國就係咁既情況

Jk

咁而家"爆哂煲"算唔算先至係變番"正常"???

fcukyoukelly

原帖由 Jk 於 2008-10-22 02:15 AM 發表 http://www.26fun.com/bbs/images/common/back.gif- e2 i' f& u- u
咁而家"爆哂煲"算唔算先至係變番"正常"???

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# G  L( B7 b  ]; [* v其實係...; x0 S: o/ S  o  v( g* n" t+ J, G
因為以前未生產, 先消費( r' H" h* z  b! t; y
而家就要多生產, 少消費