0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
4 v8 h" E) h, O: n1 o& V+ F6 hWhy bank will sell 借據給第三者???
4 X* z& w' Q8 g/ OI was so confused.....

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. m1 Y7 _7 ~9 o" U" f. {7 H$ U6 q講到尾都係賺錢
7 d% M* O5 J/ t3 _so銀行可以不斷放款" m% o3 p! x9 k$ u' W  x( j  [
美國的房貸問題散佈到全世界
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mortgage loan & j. [1 v. O0 m2 J
>conduit
5 Q5 f4 i, G: H' A>RMBS(Residential Mortgage Backed Securities)
9 u/ O% A. p6 C( v1 [  ?. M>arranger
" x+ S: B, ]8 _5 r- _, c>CDO(Collateralized Debt Obligation)
5 P) }( R" I4 j# d8 T最後去到投資者

Kev

i thought it is the reason of rate of return./ z0 u5 a$ I2 x
CDs could have different ratings, AAA -> F,5 H* w' n, V' O
more risky ones would have higher premium (interest rate) as a compensation for an investment.
1 P, v$ F# N% z/ c  Mmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
7 q- e0 m' T: W. k7 k! Iin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.' o6 c& A: _, Y3 M4 Q
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.+ S) J- O5 u. @# O
similar to bonds, CDs trading in the secondary market have different value at different times,
2 s+ U9 E* `! d9 U6 f" b+ Unormally the value is calculated by adding it's principle and interest. 3 q' w; R8 I* u7 C* ]
eg. the value of the mortgage+the interests to be recieved in the future. * S9 E% g2 q1 X' {5 u5 s3 U- d
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.+ ~! y" z+ n; Q9 G6 L4 C) \6 u
+ B9 S& J' g- t- `" y8 ]
im not quite sure if the multiplier effect does really matter in this case.
- H# J2 j0 Z5 D7 W5 d1 O, b; L) zin stock market, it's the demand and supply pushing the price up/downwards.
) ~/ d7 [# M0 d( v9 q3 A: XFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
' y5 ?. Q$ H' [7 P/ Y7 U9 _' TA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
1 Q7 o: s5 A$ e0 VThe 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.
" j- D( ^4 ?8 u& }/ Xbut the value of their assets did really drop significantly.! l) Y4 C( B2 _

9 o; n, i/ [; y3 R+ L9 t" B9 E0 [[ 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. @# g5 a0 f! d" j+ E
Refer to last example,. o6 W' Z- u0 r) `
that means bank A have no money because we borrow 10 dollars from bank A $ M8 x- |4 U/ y+ I2 }/ s
Because bank A doesnt have enough cash on hand
  Q- K( d% p' Jtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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3 ]: G& Y+ W0 ^3 WA->B->C->D->E* T9 h3 ~6 u+ a5 p# X* Q9 {
so does it mean if E failed to pay D,
% U; L" Z0 ^( s7 U2 R$ hall the B,C,D,E have to go bankrupt?- q- \, z9 e. M. T' f& G

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the multiplier just tell how much money created in a whole economy,
: t9 d  Z9 V9 P% Bin this case it doesnt really matter how much money is created, ! ]4 u& u1 R; _1 T
it's the problem of the debt itself." S8 J6 B; W9 i
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.gif6 j9 `4 C7 p7 J8 B* Z
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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* k- n$ k: ?9 J% v' \, K# y1 p無可能淨係有人蝕錢無人賺架嘛...% _: u- u+ Y' L

2 o9 D8 {0 ]& y) X  b+ d敬請各師兄解答
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) E7 c: W1 ]- E- E1 {Thanks

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那些根本係 紙上財富  % d4 z( ]2 Q) C, J6 \. O7 }
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' e1 F; C3 N. b8 E* A
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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
8 Q( c- U/ Q8 G1 t當經濟好,投資銀行相信會賺錢, 物價既估值相對較高$ V3 l1 m. f+ B' o8 e
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/ \0 A. a4 H5 U) F
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦/ o9 @) _  A1 d& J  {3 Q
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,8 ]. a, m2 g! L% u: d
計番回報率就已經係50%,所以可以好好賺
2 ]: n& |; j, X, R前提係銀行之間要互相信任先可以咁樣借法7 D  u+ c3 |2 X( W
同埋個市場既前境要係好先得
* c& W' q. g5 Y( [( w但當經濟一差,公司估值趺了,物價不升反趺+ D  ?1 a7 z3 ^# o6 R0 b5 D" |# @
例如剛才說10蚊的, 趺到得番9蚊,
# N# R/ ^# S; M7 s3 X& M: T" H咁投資銀行一下子就要還11蚊, 一來一回變左虧200%- I2 \1 a' }9 p0 e# K. Y
所以你就會覺得D錢好似蒸發哂咁7 i  i, J4 x# i& z. V- A. I+ T" z

$ S# I) T6 @2 t% H1 _" V; T你都可以當標野咁諗, 個樣野多人可以狂升值,
' U/ `9 p1 _/ }- X" W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, ) e* R, C0 n0 d8 Y$ c1 m+ u6 T
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( t( p  a( W. D" t. U" z  r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
4 w0 t& W# J" \. {( O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" o$ ]' r+ S- M6 q
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
$ Q; }: {. n) O淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
6 e5 q  V* s) @  z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
4 ^* ~8 ^/ m8 g* W咁你話d錢蒸發左去邊? ...

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$ f2 ]& n0 w, X3 t% D$ h4 v正係咁樣" j9 C% j* V6 D- 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4 T4 N1 H# V( O) T
分分鐘佢地唔使還錢
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4 |0 w) Y. P6 H# g" {$ \! s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 G8 b* J9 R( P; f" F連國家都係問人借, 不停發債券, 印鈔票
2 w3 M6 {7 H: B/ |一個國家好少出口, 而又大量入口 ,反映到佢唔多生產  ]5 E# ]6 Q* W  K3 s) I# X, O
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.gif6 j- D: Z* c9 H0 u) V
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...3 Q) B$ ?7 a  y" X2 Y" c( ~  j! @
因為以前未生產, 先消費1 T; f$ D( e/ {' |" r, a
而家就要多生產, 少消費