0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif2 h( ^) [6 n$ G3 o. d+ h/ U
Why bank will sell 借據給第三者???6 L3 P2 K/ M# }5 a7 ?. A
I was so confused.....

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講到尾都係賺錢! ~& d. O7 `* G5 m% k% U
so銀行可以不斷放款: _) Y& [) c, p4 c. A9 C
美國的房貸問題散佈到全世界
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9 ~. X7 H+ ^  @mortgage loan
/ b  v' ~7 F: m+ {# E>conduit; k- e/ H4 s, V2 A  o( i
>RMBS(Residential Mortgage Backed Securities)
* Q( E+ w2 @: `0 Y>arranger, @4 Z# ?5 Q+ Y& ?) w9 O
>CDO(Collateralized Debt Obligation). L# K4 M% J8 y0 c; e% Y) v5 ]2 Y
最後去到投資者

Kev

i thought it is the reason of rate of return.
3 w* P$ ?) K2 |CDs could have different ratings, AAA -> F,3 @* I/ S  d$ G( L1 Y
more risky ones would have higher premium (interest rate) as a compensation for an investment.
9 ]0 H) f  [6 `  t, Emain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
- j$ P# J5 J; l! U2 Q: ?in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
: Z7 ~- `/ y9 M( u% k4 e) Z  ]. RAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
' m- m, o8 k, c4 Z: V! Gsimilar to bonds, CDs trading in the secondary market have different value at different times,4 R* A- b1 D+ C; H: [- O
normally the value is calculated by adding it's principle and interest. 6 U, e5 ^( M6 U3 \5 W
eg. the value of the mortgage+the interests to be recieved in the future.
7 f& p8 s7 f5 E. k; S! ebanks 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.4 p1 z3 {2 K  }
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im not quite sure if the multiplier effect does really matter in this case.
* b$ i. `. S8 `: Z1 Iin stock market, it's the demand and supply pushing the price up/downwards.
" e9 h+ h! |& W( B: G( lFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
  T1 @% f  ]/ a& UA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.! P# U) S- X9 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.
- h) d, S3 F9 Fbut 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  h, B3 m$ ^0 T
Refer to last example,  m7 @8 W4 f- [: S3 m, T% t
that means bank A have no money because we borrow 10 dollars from bank A 5 @. A6 y+ p6 Z+ u
Because bank A doesnt have enough cash on hand $ x- P/ n; d( I
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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* v* ]3 A. w4 v9 s+ u3 u, j. ^4 a3 gA->B->C->D->E
7 b) V( b  d& R3 Z$ wso does it mean if E failed to pay D,
4 z+ d) ]+ }3 T* E4 qall 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 H: K0 O. O; e; ]; w0 Yin this case it doesnt really matter how much money is created,
1 V' J$ U7 }/ m- z4 ]; G  Z: \it's the problem of the debt itself.
+ D+ E4 w  L. ^8 D- Y( Fthe 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.gif9 ^+ S8 ^; D! r
小弟一直都唔明...! ^: @+ I( A* o8 C% q0 G. X& g1 k
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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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' F: |! r; s: k敬請各師兄解答
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" w# X0 b; ?2 c0 @" v8 @Thanks

1 ~/ x+ ^9 k1 h# v: B. L那些根本係 紙上財富  4 S& T2 j; U, X, R" |- 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
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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
9 a0 B5 E; ?) y2 l" D* D當經濟好,投資銀行相信會賺錢, 物價既估值相對較高( v2 \3 v% B0 c7 s
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& R3 r. T1 q+ `7 J# P1 }
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦  B" z' J, B' e/ C, }" V! v- J
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
* w4 p1 \% T- i計番回報率就已經係50%,所以可以好好賺
8 Y! a1 R# |' g) C6 Z$ b* H前提係銀行之間要互相信任先可以咁樣借法
' g# {+ G0 _* y# g/ ]: c同埋個市場既前境要係好先得& z" O6 z3 K: H
但當經濟一差,公司估值趺了,物價不升反趺- U1 L1 m+ `+ _! }4 f
例如剛才說10蚊的, 趺到得番9蚊, & A- h4 t4 E# e* f
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%9 P; k- B; S, `! D  a1 V+ J
所以你就會覺得D錢好似蒸發哂咁: N& y1 ~7 J4 }

/ ~5 u9 y: s% D8 B  N你都可以當標野咁諗, 個樣野多人可以狂升值,
7 S6 A2 j: Y- x2 t* L% J5 C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 j  S; O- P# W1 J, f
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
4 U) {8 z+ T" ^, O8 p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 I, b) }2 F1 L! X# H" d
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
! x1 W4 Z. A, G2 A唔係d錢蒸發, 而係比美國佬洗晒未來錢,
+ V( E  K8 p$ p1 }; ?1 s) q淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  e+ J; @3 b1 C1 n2 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1 Z; p( x) L! b( @  Y3 k! M
咁你話d錢蒸發左去邊? ...

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( \7 {- B$ M! [" N# r: z( P正係咁樣# F' Y% L# i0 S' e
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+ W8 f! g7 p5 [$ R$ x3 }
分分鐘佢地唔使還錢
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" x8 N/ B3 N+ o4 l7 r: Q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,2 y' O$ d$ q6 Y8 n* |" L! h( G9 G8 k
連國家都係問人借, 不停發債券, 印鈔票% V; h; y5 D2 Q! G- K
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
0 e1 k( P, W. B# M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
2 e7 z) D7 m5 j! Z. T; G咁而家"爆哂煲"算唔算先至係變番"正常"???

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- s1 Y7 X# I; t+ _; C& R其實係...
- _' J2 B  q/ t4 c1 t: F. D因為以前未生產, 先消費! I% w# d# s7 {7 \
而家就要多生產, 少消費