0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif" Q8 F9 Z/ Y  U9 Z) S; m+ F
Why bank will sell 借據給第三者???) }" l; c8 R; x+ U. l
I was so confused.....

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- q( P: V" O, K7 o8 S7 y講到尾都係賺錢
( \, W0 P6 S0 R8 J8 Wso銀行可以不斷放款( ~% b1 }3 b2 @; @. Z; v
美國的房貸問題散佈到全世界
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mortgage loan . D  [% M; O) i7 H# v+ T8 e; J
>conduit
" p( M1 W5 D; c7 g>RMBS(Residential Mortgage Backed Securities)/ h+ T: y) Q, r/ b9 O% ~3 x0 a
>arranger
8 g8 C  Z8 }6 f3 U( f% [# y>CDO(Collateralized Debt Obligation)6 E8 D0 Y) x$ a
最後去到投資者

Kev

i thought it is the reason of rate of return.
$ S) }: K1 H# XCDs could have different ratings, AAA -> F,3 }4 ~( _$ u% a0 }; Q) f1 C
more risky ones would have higher premium (interest rate) as a compensation for an investment.! J5 S* Q* A4 Q  c! ]% Q
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return," A. g2 e! O5 n
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
, w6 G- e; v3 |, ^# H. c2 O! V2 w. jAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
2 f6 P) I/ t! `* s' Qsimilar to bonds, CDs trading in the secondary market have different value at different times,1 D! u" i% i4 \; Y8 {3 Y
normally the value is calculated by adding it's principle and interest. . e8 Q$ F. g# q8 b( o) H
eg. the value of the mortgage+the interests to be recieved in the future. 5 g- K( [, T1 O
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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im not quite sure if the multiplier effect does really matter in this case.; g$ }8 N2 V& u3 U1 J
in stock market, it's the demand and supply pushing the price up/downwards.8 l5 s* {+ E0 Q! C1 r
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
  w+ S7 L1 |  z; `A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
8 E' S4 G) X2 s. i* x: OThe 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.
$ O5 |: g  S. f4 M- Ibut the value of their assets did really drop significantly.1 F# N) N& e5 _' ^

1 f$ y5 d  W$ u[ 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
- N! A; F- x2 _. BRefer to last example,
/ }' N0 E  r8 ^) y( Fthat means bank A have no money because we borrow 10 dollars from bank A 2 g# {& u  m% E/ H4 z& f
Because bank A doesnt have enough cash on hand 5 D! E6 q  E! e' ~* @
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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8 k' a7 m: g' _) ]A->B->C->D->E4 s0 _6 c0 f0 e" ]* G
so does it mean if E failed to pay D, ! b5 U, u4 u2 n0 g: P+ J9 b
all the B,C,D,E have to go bankrupt?
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5 p4 _; y8 @" i) N6 _4 O0 V
1 M, H! P' \6 othe multiplier just tell how much money created in a whole economy,
8 T8 |" F" q; K! \6 K0 Zin this case it doesnt really matter how much money is created,
% \: r! S$ p1 ?  R" m8 j# ait's the problem of the debt itself.
9 n$ \* `3 d7 R, }: Lthe 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
  G5 u, z7 R! h2 y, g, u小弟一直都唔明...
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) B: L' n. V3 I6 c) m% P全世界都蝕錢，咁邊個賺緊錢呢?0 A7 J% {- p5 [& T4 n6 i

$ Y1 X8 S. ?3 @, @. s9 J$ ~+ k- t無可能淨係有人蝕錢無人賺架嘛...
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/ f5 A6 C) W1 p" l  E敬請各師兄解答/ t1 ?4 ^; m" }6 e9 _8 A  ?+ Y; c

6 p7 V& Q6 E: E% t+ AThanks

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那些根本係 紙上財富  8 w/ m! q; i+ i. ]7 t
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% d" M0 |* H7 p
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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
: w2 o* j/ G6 z/ I% e3 E" P# T當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
3 F$ `3 O) O8 i+ X+ s$ k+ P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
# y9 o6 {$ k: {& x個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
( u3 R3 \0 o2 K. ~6 h扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
2 z0 z7 S( M+ w+ ~) a1 x( Z計番回報率就已經係50%,所以可以好好賺% ?$ k: Y" _% y
前提係銀行之間要互相信任先可以咁樣借法9 q3 _5 u* Z( p$ W9 g5 A+ M
同埋個市場既前境要係好先得) f1 c7 s& f$ A. z" m
但當經濟一差,公司估值趺了,物價不升反趺
& t* W% e  ?% D0 ]例如剛才說10蚊的, 趺到得番9蚊, # B2 P( U8 a+ S# @: c
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
3 C2 G) L5 o; x1 W所以你就會覺得D錢好似蒸發哂咁+ X  E! Z/ z. h4 E9 q7 m. r+ w
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你都可以當標野咁諗, 個樣野多人可以狂升值, ! M6 T+ v+ O& j$ U# U; Z
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,
, r/ A0 u6 r# g# P( ^, A淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) S$ S% l6 n! ~1 E% 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
9 ~6 m- o* v" k* ]0 f" ^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) x0 u% z1 P( `, Y$ d
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 3 B5 V7 B& Z7 z3 X9 o
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ! H% k, s# z4 f; S) A9 e" B5 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( ^* F) S& M# J! C: b8 C3 W
咁你話d錢蒸發左去邊? ...

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3 R0 ^, O* G6 |+ P正係咁樣4 T6 ^" k- x$ }- h% H9 T5 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
+ _0 c( G( A1 O7 l" `7 w* X2 g5 y分分鐘佢地唔使還錢7 L9 W$ s3 B; }& y% K7 D

2 L# H' ?1 C, }0 E  }/ f2 K0 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,8 Z, w7 X- t" R$ v7 N( C+ s
連國家都係問人借, 不停發債券, 印鈔票8 W9 z9 E# C+ W; H
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產$ F. T1 J# k' I# ~' `, }! G' 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.gif
2 q" p2 M. r! f' @% |1 p咁而家"爆哂煲"算唔算先至係變番"正常"???

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* W7 a* G% ?, b其實係...1 m+ @+ ~4 C$ H  p
因為以前未生產, 先消費
. j& k$ Y4 U  S# W7 [9 [: D- J  d- W而家就要多生產, 少消費