0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
. y3 Q. s* ~$ D' q! i+ Z. g0 p6 sWhy bank will sell 借據給第三者???8 T9 P! c: n/ O2 [0 V5 @  p& q
I was so confused.....

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講到尾都係賺錢; O7 P1 o$ g# A" l+ Y2 a
so銀行可以不斷放款
  I1 B8 X  `' \9 I8 _9 x5 S9 M美國的房貸問題散佈到全世界
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mortgage loan
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5 D6 t4 V1 N2 J  c& V& K>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)* K9 L( E( v, N
最後去到投資者

Kev

i thought it is the reason of rate of return.% v/ u$ I- L" A7 g1 ]
CDs could have different ratings, AAA -> F,4 f% C3 l) p/ [6 j" _: K0 F8 ^
more risky ones would have higher premium (interest rate) as a compensation for an investment.( v  B" z: |# C  G/ `
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
$ }* ]& K$ a+ cin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
  S' Z' v( I4 N' `  R2 u5 q; C' eAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency./ R5 C3 m3 r2 e; M
similar to bonds, CDs trading in the secondary market have different value at different times,2 c. w! V; x5 X/ A. n* q
normally the value is calculated by adding it's principle and interest. 7 U  _; z5 w" e
eg. the value of the mortgage+the interests to be recieved in the future. 4 Z# X$ p+ c; `) i5 W+ U
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.1 N0 y: I# M7 t

) S  J9 ]- A1 ]) k  q" Jim not quite sure if the multiplier effect does really matter in this case., i/ L( m& ]4 F8 Q$ A8 y  l+ l
in stock market, it's the demand and supply pushing the price up/downwards.
' p! [4 i( R6 q& O3 [For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,' e! {" O- K& D- y
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
9 r2 }' ^7 ^1 {. V. tThe 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. ) u3 T  Z5 Z: u5 U) m/ M
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& T/ y6 K5 q/ ]# D5 H/ m
Refer to last example,
2 h1 I6 j' v( F4 f! R0 nthat means bank A have no money because we borrow 10 dollars from bank A 5 ?. S& n& d- s+ T9 B7 M
Because bank A doesnt have enough cash on hand
0 T1 l) J* L5 r2 F$ Ftherefore bank A need to be bankrrupt ??? Am I right ?? ...

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; u( W. L! b" D& r" J: jA->B->C->D->E
5 i, T2 w5 w' T1 gso does it mean if E failed to pay D,
" `4 T- H; z2 gall 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, # _3 y. H% N6 _( \
in this case it doesnt really matter how much money is created, 4 h4 n$ J4 N7 B7 U. V
it's the problem of the debt itself.. e* l$ s1 P9 V- ?' \* r4 x
the 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
- B. q  V# b0 R7 r* l* a% n4 m小弟一直都唔明...2 R' i/ i$ j( c6 r

- v4 j9 f- j# {- a7 ^# H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...2 ?' ^* L$ `" \* C

5 c$ e( m) J, \' D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  : A8 k. w9 ~, o1 ]) V
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$ v0 @2 ]* H! k1 M* A, K# u  x

. F. y& I, C6 ^/ W* y1 N3 o" whttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
( {' R0 l- r; a當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
" p; X  d: f; X" c' \1 a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  p0 L9 @: r  d- H. x4 u' J* j5 p3 t
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦# |1 @- W5 R3 j  p! S( o) [
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,7 D- h3 t8 d. n' C' e
計番回報率就已經係50%,所以可以好好賺3 @* |. [3 S  J7 r9 t. z
前提係銀行之間要互相信任先可以咁樣借法
- F/ z* x$ [1 d+ @/ e- V同埋個市場既前境要係好先得2 _' K) @$ g% Z3 ^
但當經濟一差,公司估值趺了,物價不升反趺/ K, _, d& b- }
例如剛才說10蚊的, 趺到得番9蚊, / `. B+ k8 B0 O7 Y  q. R4 c  g) \0 |
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%4 D6 ?" I% s$ ~6 o6 b7 T
所以你就會覺得D錢好似蒸發哂咁: r1 v! P- U( B; F3 |9 ^* j0 U: N
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你都可以當標野咁諗, 個樣野多人可以狂升值, # F- E# ]8 t$ i
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,
9 n% s' b4 B' Q- O+ M0 k0 c淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 [% ]+ O. C8 e, v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# [, N" P& Q/ F0 k4 f6 U
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+ i! j0 F$ _& e
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
! U9 ^; r, c. m; B; h淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ( j" c/ Y0 M2 p8 c; ^
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" S2 R9 g) _4 f* o$ R7 W% I% F' X5 d
咁你話d錢蒸發左去邊? ...

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正係咁樣
* H& a  F8 s& x" g6 m' w! O$ S; h5 k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
5 L' S9 |! e3 ~8 w2 H分分鐘佢地唔使還錢
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7 H5 e) T8 b' f/ b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,
) p: l  t1 V' @( p+ u連國家都係問人借, 不停發債券, 印鈔票& K0 ]0 @2 a+ j4 I5 C/ T& _9 t: ^
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產: L" V! q8 }, Q1 X
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
8 v1 x; N! `' l  N! O咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
( M6 o% c: E* w因為以前未生產, 先消費
8 C3 I% B1 S; H0 ^+ Z6 W: I9 a而家就要多生產, 少消費