0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif9 P9 Z. ~5 V: Q/ w
Why bank will sell 借據給第三者???$ Z5 g/ U, p& b. r) [1 ]7 W
I was so confused.....

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* e% o6 i) M! ^6 h; `講到尾都係賺錢
0 V! l( J& I5 x0 V, tso銀行可以不斷放款. Q" ?+ h% d5 o1 w7 N+ c9 J: d
美國的房貸問題散佈到全世界
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mortgage loan   u  Q8 n+ F" n0 y2 i$ b
>conduit$ k, i. P, ?, t9 C2 T- |& q# a* i6 }
>RMBS(Residential Mortgage Backed Securities)- R2 j: ]+ S, ^0 H
>arranger
& _0 V3 }4 M, D+ \$ }>CDO(Collateralized Debt Obligation)9 r0 w8 ~& |$ t+ u
最後去到投資者

Kev

i thought it is the reason of rate of return.: Z9 f5 ]! ?! h1 N2 H0 G
CDs could have different ratings, AAA -> F,
/ r- d/ F( C$ `more risky ones would have higher premium (interest rate) as a compensation for an investment.
6 R6 h( v0 X7 Y1 G3 U5 K6 ymain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
+ {1 N/ X6 W3 F2 D3 a, l6 {0 rin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.. e# E  K  f- J# {5 S& f
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
- L- d9 _& A/ q. e$ Psimilar to bonds, CDs trading in the secondary market have different value at different times," H' d3 D4 u( ?3 m  R
normally the value is calculated by adding it's principle and interest.
- \; O2 ~2 d/ |: n5 k1 f; _eg. the value of the mortgage+the interests to be recieved in the future.
9 n* r* ~+ n9 I; X# a8 rbanks 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.( T" ^0 A  L/ T# A2 x& v

9 w! a% u: I: s0 N3 O, cim not quite sure if the multiplier effect does really matter in this case.) |3 N; K5 v! L' l, H
in stock market, it's the demand and supply pushing the price up/downwards.) s# v9 X. p( F& p5 U
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12," N) T7 j5 V0 Y
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.  S. C+ p: U( j3 A8 y' ^
The 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. 5 N7 T8 r7 s  T
but the value of their assets did really drop significantly.
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" L5 L- I& ?4 d' g# h[ 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
( @: r" a3 `+ h( P1 T2 y' J( i1 TRefer to last example,2 T, Z. ~& s( A# E6 \& Q) u+ K
that means bank A have no money because we borrow 10 dollars from bank A 8 i# z% C& g3 i4 N; P7 M( O$ V8 S
Because bank A doesnt have enough cash on hand
# B# P# _' Z, U; |* etherefore bank A need to be bankrrupt ??? Am I right ?? ...

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  P& b1 ]$ G- ?  {  D6 q& vA->B->C->D->E. ?% R& B2 C, q
so does it mean if E failed to pay D, ) Y: I1 N& {0 z$ F" m# [- h* |% \
all the B,C,D,E have to go bankrupt?& ~7 i7 l* N. j; Y

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the multiplier just tell how much money created in a whole economy,
; R9 l- A" M6 |* Rin this case it doesnt really matter how much money is created,
$ X$ a, q7 U- s: ?) w4 B, ait's the problem of the debt itself.
! u  z+ ~  D5 k2 y& Pthe 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
6 y. A3 n1 j& K+ b小弟一直都唔明...! i4 H# k: p- u

! R; B/ Y. |  k* e全世界都蝕錢，咁邊個賺緊錢呢?3 y. J5 S& \$ |+ ^

+ Y8 k9 ~8 `; O無可能淨係有人蝕錢無人賺架嘛...  S  S3 R9 b  u7 k/ z
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敬請各師兄解答
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Thanks

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那些根本係 紙上財富  
! r2 I2 G  {0 T' Q2 q( p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 graphic! Q+ ?7 F  U0 ~2 x  `9 g* Z

. I3 Q( \; D# v2 e/ ]" bhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產  |: \" A5 ^" d& h0 i
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
/ r) p5 t' _  ~$ [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+ a, k' l3 f! K
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
3 m/ O* O7 B; j8 v. u扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,% D1 D$ n& |) p3 I% h  L
計番回報率就已經係50%,所以可以好好賺$ H- T, C, h) {2 _
前提係銀行之間要互相信任先可以咁樣借法) U) p4 v0 c& }
同埋個市場既前境要係好先得6 j) b3 k2 R7 U, R; ]
但當經濟一差,公司估值趺了,物價不升反趺
6 M2 y4 Y) p* T例如剛才說10蚊的, 趺到得番9蚊, ' \- R; ~! z6 n/ @. T
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
$ s8 m# c# c9 }( O所以你就會覺得D錢好似蒸發哂咁5 M" l* V& ?6 P  x$ J9 s2 q$ `

# s8 o* I( i) g你都可以當標野咁諗, 個樣野多人可以狂升值, ) c. I2 k0 s+ }! g' a
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, ' t! \$ O0 S6 a' ]/ x- i
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + j$ y- [+ ^2 U( K4 t, U9 \
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
7 W9 U$ s/ n+ Q  P4 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
; f/ G0 D2 \9 e唔係d錢蒸發, 而係比美國佬洗晒未來錢, 6 f  [' H7 Y# }7 s6 u2 \1 b# Y8 Q
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, - m8 W3 c. q8 ?1 C0 @/ S
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
' h% V1 X' ~) b8 g咁你話d錢蒸發左去邊? ...

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正係咁樣
+ V. ?! _; P5 D- a! l- G6 J2 G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
# \3 y% F: Q6 |" V" |. Y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,
% G/ {! z$ @2 r! n; H連國家都係問人借, 不停發債券, 印鈔票7 u; _/ z4 V+ |/ ~) a$ g. N
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
4 @2 f+ t9 N  L3 J. N$ Q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* R" ]$ S, a0 D. r) Z7 Z- }4 p
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
& l* s3 f* Z. L3 z  r' H( A因為以前未生產, 先消費8 Z5 Z# f+ ?# n; P; N
而家就要多生產, 少消費