0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
1 |* G. e. }8 P1 {Why bank will sell 借據給第三者???
6 v, U7 A# `2 U+ Y7 V! E' h, fI was so confused.....

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講到尾都係賺錢
1 e  D3 g6 Y' kso銀行可以不斷放款0 W5 o" z# j! ^$ A) f
美國的房貸問題散佈到全世界
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mortgage loan * I6 `; _( D/ n+ f
>conduit
# r  Z1 \) j9 o0 \" M3 F  ~>RMBS(Residential Mortgage Backed Securities)3 ^5 L# Y; B3 W4 V+ V% |7 q
>arranger
- r. _: t$ l) _8 |7 V>CDO(Collateralized Debt Obligation)0 Y$ l) b; l$ f# j) T6 }" h
最後去到投資者

Kev

i thought it is the reason of rate of return.- O. t. b& M7 y9 d- {0 f
CDs could have different ratings, AAA -> F,. S+ f$ i4 G# Y1 x! H6 \3 K
more risky ones would have higher premium (interest rate) as a compensation for an investment.0 A' ]3 L% q8 v1 ?, {
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,3 D4 G1 c1 _1 `! e" p8 m; |
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.' B, i) p, @+ r  o1 J9 M
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
; |) C* J- \1 u# tsimilar to bonds, CDs trading in the secondary market have different value at different times,
  _# I5 k4 n: z$ f6 R" ?normally the value is calculated by adding it's principle and interest. $ s8 M+ Y6 `6 [, _8 s
eg. the value of the mortgage+the interests to be recieved in the future. , B7 S! B0 T7 q4 X9 ^4 X  y
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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5 x! b( K4 d/ H" x9 Oim not quite sure if the multiplier effect does really matter in this case.
, Z2 z' j3 K- W( g7 L5 b4 |" jin stock market, it's the demand and supply pushing the price up/downwards.2 Q$ I3 g' l1 i9 \  P
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,9 [) l( k2 b: |3 W9 `" X
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.4 y6 @/ M" `! D# T
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. 0 C( f& x2 i/ l4 l9 z/ M, y
but 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* u& F$ n# T% N- N5 A. }" t5 I1 S
Refer to last example,% b' A. O, y/ C4 j* n  p4 m( A+ K" I
that means bank A have no money because we borrow 10 dollars from bank A
) t0 z$ \6 e' Y* @0 P, K# n- r; H# `Because bank A doesnt have enough cash on hand
- J0 p6 q; _" F1 i; M& `6 [- X* ^2 s% itherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E* ?0 `  o7 s/ V4 O7 S" Z6 U( W
so does it mean if E failed to pay D,
& ]% c2 p* k& ^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, 0 D! E' J! k2 u+ n9 u- I- @
in this case it doesnt really matter how much money is created,
: y3 u; f( t0 `1 I& _1 k3 ait's the problem of the debt itself.
" [, w9 ^, k4 T  \% `% Z9 J# uthe 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
3 h: Y0 `$ c5 o小弟一直都唔明...( B& Y5 ?8 _$ R# B& p& t
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全世界都蝕錢，咁邊個賺緊錢呢?9 A9 ~* `( S/ S- ?; t
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無可能淨係有人蝕錢無人賺架嘛...
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" g( ^* u# P( ^" x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  8 w" p( `8 ?9 b2 z0 s/ L
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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fderek

其實個D錢係你可以當係虛擬資產
9 F# s" b: u# L: S* |+ q. f當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
6 n( W. I& R1 P: Y* [9 u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
3 }% |' d) B3 ~. ~個件物價係市場好既時候升, 例如15%先算,變左12蚊啦! b- e  R  G# L" P  A! B
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
, J; Q2 a5 c9 \3 k) i計番回報率就已經係50%,所以可以好好賺
# D; }& e+ x" {+ @; }  R前提係銀行之間要互相信任先可以咁樣借法7 T3 l. v# i. ^9 m6 s
同埋個市場既前境要係好先得8 Y" z7 F' ~6 u& A! e2 L
但當經濟一差,公司估值趺了,物價不升反趺
) I; t' y0 o7 O0 s6 l3 w/ _例如剛才說10蚊的, 趺到得番9蚊,
4 j0 X9 ?" ~4 X" y% R( z咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
- B! v, N$ H5 g4 d6 T' e所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值,
$ x) O- G# I, _5 B8 [' h: D7 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, % \, `( `; _. ^% @
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
! Z; m+ W9 A9 H' o0 E* s- I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
$ I) ]( c& d: s" |5 y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
( m& E% h# j7 Q* h唔係d錢蒸發, 而係比美國佬洗晒未來錢,
  T/ k! ]2 X" d5 l  j4 w9 S7 L- q9 S淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, j# W5 m- |3 H- b- ]' R  w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. Y2 q* `7 J7 k1 n9 c9 g
咁你話d錢蒸發左去邊? ...

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正係咁樣% g3 q5 e  `) C
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
+ M2 T0 g/ J  u+ }; Q0 m分分鐘佢地唔使還錢7 }( r0 j' H5 K

/ `6 T  y2 _/ @8 A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,) ~" N5 V& {4 X0 \+ H
連國家都係問人借, 不停發債券, 印鈔票
( Q2 J. @. U& E6 ?! l1 C一個國家好少出口, 而又大量入口 ,反映到佢唔多生產6 H0 k7 O6 f0 t" i$ }( L
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
6 _* P! a  s* c6 r" e咁而家"爆哂煲"算唔算先至係變番"正常"???

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9 Z9 \* U6 i- [) W1 M6 l$ B4 p其實係..., {1 P, G. z/ {: n/ T
因為以前未生產, 先消費1 c2 V/ x1 ?- x9 n1 u
而家就要多生產, 少消費