0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif: V8 M5 `& M0 _8 c9 {- D
Why bank will sell 借據給第三者???! z" a3 r0 U: V0 i  g- n3 L% {
I was so confused.....

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講到尾都係賺錢
" t! _; H7 H" Fso銀行可以不斷放款
$ t* [- A% O5 p; ~美國的房貸問題散佈到全世界
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)) ?3 y2 _5 i( A+ J) {
>arranger
& O4 f5 d. |# D: B* h4 M0 |1 H( v0 Z>CDO(Collateralized Debt Obligation)& ~* |, h/ h  Q; c8 l, ^7 {
最後去到投資者

Kev

i thought it is the reason of rate of return.
3 P; I, ?+ c" k' F' H' pCDs could have different ratings, AAA -> F,$ S$ ~/ i3 s# n( ?
more risky ones would have higher premium (interest rate) as a compensation for an investment.; }4 D' G* W/ O' M/ [
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
7 N" x4 [- S' Y8 h- W# Nin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
0 a7 J% Z3 o' k- ?( d" d7 vAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.4 \3 F2 H$ Y3 {7 Y+ k  Z
similar to bonds, CDs trading in the secondary market have different value at different times,3 K- e2 G4 L# _- O% Y- i
normally the value is calculated by adding it's principle and interest. 0 F" W7 b  J& f; `9 ^* T
eg. the value of the mortgage+the interests to be recieved in the future.
0 p! s8 {# Z# W; t/ Gbanks 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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im not quite sure if the multiplier effect does really matter in this case.0 J$ X- e) G3 w( ?+ O+ d
in stock market, it's the demand and supply pushing the price up/downwards." l+ C+ B2 S' @: l/ F6 d+ q
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,1 \8 D! [% R) L: z/ h9 o
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.. a: F+ C5 r. t: r! S& i
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. ! o" _( d5 D% ]! n
but the value of their assets did really drop significantly." Z2 @6 H" M! H( D
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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+ x( Q8 G! b, ]; {& h9 k3 L; ~
Refer to last example,
  u1 m# O8 f. y. dthat means bank A have no money because we borrow 10 dollars from bank A
) F7 M' R1 v$ p6 ]" A1 b5 kBecause bank A doesnt have enough cash on hand & i& \  e. ?  d
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
3 p4 d& H. G& t' f. Tso does it mean if E failed to pay D,
4 |0 N* K0 S% d9 yall the B,C,D,E have to go bankrupt?: H( v" v; G7 b
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the multiplier just tell how much money created in a whole economy, ' v) s; t( d+ C6 l5 H
in this case it doesnt really matter how much money is created, % s$ U$ l- H5 b( K; M
it's the problem of the debt itself.* \$ I1 l' ~. D2 }; t( k
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
( d( ]9 ~3 V% M8 z6 w1 o, G. G小弟一直都唔明...3 R0 d5 X5 J! Z
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全世界都蝕錢，咁邊個賺緊錢呢?  N4 o* {/ T8 z0 r0 z1 p2 B
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無可能淨係有人蝕錢無人賺架嘛...! S; ]. C+ N% y6 X7 |! z

$ c2 W4 I  H; z$ E2 h/ n# W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  
6 V) S1 c# o! H, E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  q3 l! g: M. y& Q6 V7 L4 e1 a; E$ e
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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
; T  N4 O# x& M$ v4 }) @& _當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
0 c7 ~: R& s7 h2 O; f; o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
. r. R0 _7 c5 J& U( u個件物價係市場好既時候升, 例如15%先算,變左12蚊啦' F% H' L8 K- k, R
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
& m. }0 `6 r  N' X計番回報率就已經係50%,所以可以好好賺
! `7 B' M/ u( o% \2 S+ [前提係銀行之間要互相信任先可以咁樣借法9 l3 ?3 O# g! `3 h; b
同埋個市場既前境要係好先得
( Q3 a5 V6 l& y& j7 h3 @! c) N但當經濟一差,公司估值趺了,物價不升反趺
$ V  L# J7 A3 K0 h例如剛才說10蚊的, 趺到得番9蚊, 0 H, C0 Q9 A, L/ b2 h. P
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
: a' v1 F2 W* Z; E4 C9 _所以你就會覺得D錢好似蒸發哂咁3 j" l/ w. [; b2 y: m7 P

& a) ~$ X6 X+ f" i' u你都可以當標野咁諗, 個樣野多人可以狂升值,
8 Q9 S6 H% s: [+ d0 B0 Y0 M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,
, \! l+ H  @. @* |6 D0 K3 T淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 9 z; _% e0 \0 Y: _% k! I7 C4 K7 A
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
; r. z* x0 f" Q# G# [0 m& G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
2 C# q5 p, J6 z# C: v) v唔係d錢蒸發, 而係比美國佬洗晒未來錢,
- ~+ z( [5 O: ^/ [" _+ z0 [8 l淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 Z3 a- ^: }3 b* q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: a, L' b. N* ^
咁你話d錢蒸發左去邊? ...

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正係咁樣% E3 z( E# u) {# K( S1 k: Y& z
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
! }1 V# w) o7 F/ G6 d分分鐘佢地唔使還錢
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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,
- g5 z/ {, \. z" |6 M  ^9 T: g連國家都係問人借, 不停發債券, 印鈔票
% L2 k% W# E+ Y. g; T; v7 c1 \3 o5 M! _一個國家好少出口, 而又大量入口 ,反映到佢唔多生產+ a. Y6 V& u2 X7 Y
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: k  o! H$ U: z8 X& @0 X3 v8 u
咁而家"爆哂煲"算唔算先至係變番"正常"???

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- e! u$ c; ?" a% m1 B) q9 R其實係...
: I7 t7 I5 R: ?5 u! E' K因為以前未生產, 先消費
2 `: P+ A& l0 ~8 O, L/ i4 O# H而家就要多生產, 少消費