0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif( x& O/ O0 f) H4 m3 I# _# Z  J
Why bank will sell 借據給第三者???
; \3 u) a1 G! |0 rI was so confused.....

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講到尾都係賺錢
+ [6 t, X" _. @/ Mso銀行可以不斷放款) u/ K1 Y( l9 \; J9 o5 N$ q+ U
美國的房貸問題散佈到全世界
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3 |' b. t  p% h  N& z2 ]6 @9 Ymortgage loan 4 T0 U# [, k% D" e" Q% O) j
>conduit) v  g" A* ]5 Q8 e- D) A
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation). r  u) r8 K4 l- \
最後去到投資者

Kev

i thought it is the reason of rate of return.
, J/ f; u4 I# t: x& }CDs could have different ratings, AAA -> F,, T: u0 g# Y  d, V) @0 y+ [
more risky ones would have higher premium (interest rate) as a compensation for an investment.  k* V  T1 d" ^9 Q) `, ]0 Z. A) o
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,. [+ t. n1 u! H' I3 y
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
0 I& b! p$ y% f% WAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
! ~- z" F6 a* R) k2 g, L  _8 h1 Gsimilar to bonds, CDs trading in the secondary market have different value at different times,& w* A$ E$ i0 [
normally the value is calculated by adding it's principle and interest. % ~! A* v7 a3 m( L# m' o
eg. the value of the mortgage+the interests to be recieved in the future.
& s2 b3 ^+ ], V3 _/ a& Ybanks 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.% i9 q* K: j/ x$ p( J4 q
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im not quite sure if the multiplier effect does really matter in this case.$ _: B  ~. V2 s* S1 V3 o6 ]
in stock market, it's the demand and supply pushing the price up/downwards.
1 ?5 p( n! M/ I% a& ^For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,  j5 G9 p3 z8 E; N3 s9 U7 ?  G3 J% T
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.5 W6 t0 h. W! F( B8 A5 J/ L; S& s
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.
8 w. ^0 ^- Q/ W( z5 hbut the value of their assets did really drop significantly.7 [/ G: X& d4 k" R" b/ l
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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.gif5 `9 ]6 f' X9 H' i' U8 O
Refer to last example,
! H! m( P% s8 j6 Tthat means bank A have no money because we borrow 10 dollars from bank A
) h8 p" |, d) T' x5 R0 r8 F/ |Because bank A doesnt have enough cash on hand
# j% @$ T0 K: u  a/ Qtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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- Z6 y' \6 @0 d7 u# aA->B->C->D->E
9 y, p6 R* ?$ G; ^* Eso does it mean if E failed to pay D, 5 @( r$ i: L8 e3 W0 w
all the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy,   _% I$ Z7 m7 r
in this case it doesnt really matter how much money is created, 7 v/ n( s6 N3 t0 o" }" b
it's the problem of the debt itself.
- k. y: L' L8 x; F- @) }5 Athe 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.gif5 g( {1 T, P* w( u  r( h3 F( `* Z
小弟一直都唔明...
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: c! ?/ r6 |, T8 x" a. l全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...
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5 Q- p# C$ N$ H敬請各師兄解答9 K6 }$ ?" ]4 \9 u, m
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Thanks

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那些根本係 紙上財富  
" `) V+ P1 ?* z# C+ K! k1 k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
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http://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
; L$ ?# h3 E( h3 @* x+ m當經濟好,投資銀行相信會賺錢, 物價既估值相對較高7 n! B: |9 x: ^) P/ r' t6 p! o
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' d  M. F$ ]: o; x% ~$ i, @
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦4 |( t& e, A9 N; _
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,4 p0 z- A+ A5 ~7 W) [% ]; z
計番回報率就已經係50%,所以可以好好賺
! c5 n5 k) r$ l& O8 O) F7 I' c前提係銀行之間要互相信任先可以咁樣借法! f6 x* p) u2 G! C( B* t
同埋個市場既前境要係好先得( q( F5 T, s; o
但當經濟一差,公司估值趺了,物價不升反趺' \7 y* L% a+ ~- h9 d6 Y  K+ ~
例如剛才說10蚊的, 趺到得番9蚊,
4 w' ]" P/ L. s0 ^& P咁投資銀行一下子就要還11蚊, 一來一回變左虧200%: X" Y. ~, D2 q* N( m) V! O
所以你就會覺得D錢好似蒸發哂咁
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- [9 m. b7 j. l$ O' h  U你都可以當標野咁諗, 個樣野多人可以狂升值, + @, Z1 e' _& z8 K
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,
- c+ }0 g/ B( w' a+ r! k淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( N- [$ t: i$ ~- q7 u" A9 W8 ]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 c8 Q  I$ E: Q! [( h
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
( k; r/ c0 V& Q7 D/ }6 F; o唔係d錢蒸發, 而係比美國佬洗晒未來錢,
' d. Y, M0 D& L1 H( h淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ) j7 K( j. W0 ~5 G7 `! q
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2 m( ]! g$ r3 a3 p# q
咁你話d錢蒸發左去邊? ...

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正係咁樣4 T3 a8 k4 H7 z4 u. `; ^$ n
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
( x* M, B& k7 c! d2 [/ x2 a6 e) b/ O5 o分分鐘佢地唔使還錢1 {. T8 E( z; p8 W9 m$ _, ^4 j% ^8 _2 K

  }! Z! d6 \# G5 L6 @8 ]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,
: O. j& |4 m% `) W+ A3 Y. Q連國家都係問人借, 不停發債券, 印鈔票
  c* v! B" U2 D4 E一個國家好少出口, 而又大量入口 ,反映到佢唔多生產$ Z1 b2 z- ^; Q: 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.gif7 s* _% O+ K4 h& B/ ?. }. J; H
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
7 e6 s  E8 a; ~6 `+ R  |8 r. @因為以前未生產, 先消費
4 k+ K9 n! ^2 ~- F# _" x而家就要多生產, 少消費