0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
5 r1 w2 Y9 e( N  C0 jWhy bank will sell 借據給第三者???4 I1 a$ ~- J$ y
I was so confused.....

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) \5 q3 }" q4 i9 f9 l8 j# Y講到尾都係賺錢
) y/ ]3 ^! B& O2 aso銀行可以不斷放款
: Z  k0 y; h( h' F5 \% F美國的房貸問題散佈到全世界- ?) w, ~8 W- @+ N0 |4 n: Y
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)+ ]* a& ~5 S, i% E5 L! f. y
最後去到投資者

Kev

i thought it is the reason of rate of return.
' R) u7 b) Z# Q, V) h, d* e! jCDs could have different ratings, AAA -> F,/ S* x' {" q. Y7 A; Q# V6 t
more risky ones would have higher premium (interest rate) as a compensation for an investment.
4 q$ l( {* ~! Q& l0 e! fmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
$ @7 K2 Z. R3 q3 u0 kin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
* z0 v: W, D- n6 Q9 b+ c1 [% Z- Y, mAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.2 _5 o5 P9 m2 x' H9 J
similar to bonds, CDs trading in the secondary market have different value at different times,! V1 }  J4 G# X  j3 L/ f
normally the value is calculated by adding it's principle and interest.
1 l: R7 \, d4 Y; N# E0 v7 heg. the value of the mortgage+the interests to be recieved in the future. + U# F) w* H' O# c
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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4 E6 x) ~& }0 |- B# y5 M, M# Wim not quite sure if the multiplier effect does really matter in this case.
" p5 c$ M- |* I" l; Rin stock market, it's the demand and supply pushing the price up/downwards.
- b2 `% E8 i5 J% l. Z8 H- z* v" KFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,+ S5 u2 D2 v0 v7 v" V. i: A
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
6 T! b5 Z) W/ Q# d, h; n, 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. # K  A7 w$ J, V, r# K, v6 z
but the value of their assets did really drop significantly.8 Q& H; H5 E! r8 F1 j  E4 f' v" z
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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/ C+ k* u& B! w! d1 |
Refer to last example,: p/ g2 d* t6 D) x6 i
that means bank A have no money because we borrow 10 dollars from bank A
( T1 I1 p+ k7 c2 _& ]- aBecause bank A doesnt have enough cash on hand
9 o, M2 M. r- [, ^1 \( htherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E+ z0 P& I# t5 ~+ H
so does it mean if E failed to pay D, 4 \" p1 f# P+ Z+ K
all the B,C,D,E have to go bankrupt?" w( _$ T0 F: u

" K( |4 I+ a1 i& G
- e! ?* Q, _+ K9 N8 Vthe multiplier just tell how much money created in a whole economy, 7 \4 A6 B1 w9 f) q5 C, e5 }+ l- c9 L* k$ E8 T
in this case it doesnt really matter how much money is created,
2 T% h! N! _5 L2 m. _  A( `it's the problem of the debt itself.
% {9 a  D! Y, P$ O, a4 K/ Mthe 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
" ]+ H: z, D* K7 \小弟一直都唔明...7 R3 w, Q2 R$ U" f  L/ p- S& {9 ~$ H

4 w! L" }1 C6 j  L( T- h全世界都蝕錢，咁邊個賺緊錢呢?; [( x* a4 t3 ^, _& A

. i5 W! S. ~; d! U無可能淨係有人蝕錢無人賺架嘛...; k" i8 ^  V. `/ d
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敬請各師兄解答+ [4 ^* }# S! ^$ X' U% O* M* }
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Thanks

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那些根本係 紙上財富  
2 D( S! w9 Y. Y: A6 {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* B, m9 b9 f+ n4 V0 O

2 w6 j8 m/ {( Y7 A+ [" g7 [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
. d* d; Z1 ?5 \當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
0 h  v  x2 Q% E" k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  \, c9 X3 a7 h* z: G% E, j' Z
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦9 V: ?. [+ Z3 |! A5 F
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
% b' P  z" U1 d( f  B計番回報率就已經係50%,所以可以好好賺6 [4 o" d2 F( v
前提係銀行之間要互相信任先可以咁樣借法
) d/ `5 f7 m! `  O3 U+ s同埋個市場既前境要係好先得* E7 Q/ d9 Y: k, @
但當經濟一差,公司估值趺了,物價不升反趺( P3 L7 J' N+ U
例如剛才說10蚊的, 趺到得番9蚊, $ v. K  }! P0 X( A5 j. f% p
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%: g; C$ T$ \' A" c
所以你就會覺得D錢好似蒸發哂咁
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4 `3 U, ]$ A+ F' g5 t你都可以當標野咁諗, 個樣野多人可以狂升值,
4 _) B  s$ u" n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, 0 j6 Z; p( r# A
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 z' G: C! o! d$ Y% x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* |3 ?& w2 i: J4 T9 E% 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
: Z  C& T) G3 N1 d/ g0 O  S唔係d錢蒸發, 而係比美國佬洗晒未來錢,
" F; O+ e9 M1 g) Z淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' k9 P# h0 `: b2 g( k
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
! T  q, d& I) Y2 p+ i咁你話d錢蒸發左去邊? ...

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. R0 `( R* f4 \1 d) S正係咁樣
0 U1 X' C7 z5 u9 w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) ?. ]) U% u  L: V0 D# ]% `
分分鐘佢地唔使還錢- [6 ^' ?* D; I1 D; G3 J% J) T

5 r. s) K  v* T7 e. P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,
4 \, N$ p% b* X連國家都係問人借, 不停發債券, 印鈔票% H, ^+ N0 G  M. a( K
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產, [+ [+ ^( }! j& j, i! s& s
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- u1 E1 |  V/ G  m: j9 K/ x; {! u- P
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...8 d' c4 x" q7 F1 c& c' X
因為以前未生產, 先消費
4 R8 U8 ^) R$ |9 f0 H8 e而家就要多生產, 少消費