0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif" B! M8 C2 e+ [: ^
Why bank will sell 借據給第三者???
) P: x) c3 r) B5 z- aI was so confused.....

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; i, S5 L0 F8 J7 W講到尾都係賺錢  h5 x$ d& j9 L! T9 T( ^7 w1 X
so銀行可以不斷放款
1 o& E3 f, ^. A3 J- E9 V美國的房貸問題散佈到全世界' D* |) W. p7 r7 @
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mortgage loan 1 }$ J1 x* Z; [! B/ g3 Z: p
>conduit
2 ]. F+ p& p/ ~- U8 ?- q>RMBS(Residential Mortgage Backed Securities)4 @5 R6 S" Q$ Q, s0 d2 @- y
>arranger
( F* I) |1 z9 f8 g7 J0 L  Q8 t>CDO(Collateralized Debt Obligation)2 X# H7 ^2 P* u$ d
最後去到投資者

Kev

i thought it is the reason of rate of return.
6 S; P2 L" m" p" `* S5 P4 z& ~+ ~CDs could have different ratings, AAA -> F,. K# m4 D, @# Z! B
more risky ones would have higher premium (interest rate) as a compensation for an investment.
1 ?6 X0 Q; j/ e# l/ @2 smain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
5 ^( L( K; m9 o; ?in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.) j% ~* F1 n$ O8 B7 Y/ i/ ]. m
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
) z7 ^( _5 h( B, a1 E+ V% N4 Qsimilar to bonds, CDs trading in the secondary market have different value at different times,* [2 H, ~0 w% H# C+ \' z1 X
normally the value is calculated by adding it's principle and interest.
- D! H  O' n5 V  t" }8 Beg. the value of the mortgage+the interests to be recieved in the future.
# _! {; H& D# D, z/ t% kbanks 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.3 ?  {1 c* h( U. s" g- N
in stock market, it's the demand and supply pushing the price up/downwards.
$ ^, e: y, n2 Q1 G. K% zFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
3 G' y$ o% S# v% D0 j1 {$ A5 yA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction." H$ [/ }7 g  v2 W' |( y
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.
, ~9 d, i: w2 O+ Q/ ~" ^but the value of their assets did really drop significantly.5 g5 Z$ H  U2 A1 t% j
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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.gif0 ]% _9 u; }% {
Refer to last example,
" `- ^7 h: l  t( B- {5 Pthat means bank A have no money because we borrow 10 dollars from bank A + d6 u" b* n  ~% [% W0 ^
Because bank A doesnt have enough cash on hand
7 m. T: @, c6 w  t4 F% [therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E9 Q+ m0 }5 Z% Q0 k( D% i' d
so does it mean if E failed to pay D, 9 |* f; V8 e- B3 o6 f. x8 w
all the B,C,D,E have to go bankrupt?" [, k( Y% ?, `. G2 `" `, G

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the multiplier just tell how much money created in a whole economy, 8 l; L6 }5 U( H3 h7 r/ Y0 a
in this case it doesnt really matter how much money is created,
  p1 F# `  v3 _/ Q% git's the problem of the debt itself.# }9 R$ \  z) v
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- Z* d! p+ f) S! [  Z& Y) P+ j
小弟一直都唔明..., a+ J/ B# f0 J- [. @9 [

0 z1 d# a! m' l3 S2 E! d; |5 }全世界都蝕錢，咁邊個賺緊錢呢?
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5 w+ R4 f. m7 W無可能淨係有人蝕錢無人賺架嘛...
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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  : w4 b  P4 Q4 p' L: L( @, \
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
- ^" a8 Q& g1 ?' x7 M* y當經濟好,投資銀行相信會賺錢, 物價既估值相對較高/ A6 ^% B" u' C1 n  u) g
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' x6 u: A2 T1 }2 c* ]. G* ~
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
; V9 B$ e0 C1 \4 _& ~; N扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
* n' [! [5 L2 i3 F計番回報率就已經係50%,所以可以好好賺% Z% V/ o) ]' G4 {
前提係銀行之間要互相信任先可以咁樣借法; ]: {9 x, w8 v+ D
同埋個市場既前境要係好先得9 E7 I* c& V0 ?9 w* o; J
但當經濟一差,公司估值趺了,物價不升反趺
2 |+ L) C% H& @例如剛才說10蚊的, 趺到得番9蚊,
* u9 I$ h, N5 o* [/ a: Z4 `咁投資銀行一下子就要還11蚊, 一來一回變左虧200%0 b$ A, U; v6 q  q2 O7 j" j
所以你就會覺得D錢好似蒸發哂咁. z" O1 Z7 x- ?0 o6 r- e( Q
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你都可以當標野咁諗, 個樣野多人可以狂升值, 0 _* z' S% f& C, j* T" ~0 x* f
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, % b! l% y  C' \  F
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, & n, A; _, {3 i/ @
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0 |. L" \& e3 F6 A( l4 N, a
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.gif9 a" d% i6 d1 [- n+ _$ H0 X
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
! c9 k& f$ X: J  u% {淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
9 D) P; f7 w1 L+ {3 q+ y2 s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% K8 m3 j9 O% f
咁你話d錢蒸發左去邊? ...

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正係咁樣
3 R8 ]- G, u# @. ~9 N; j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; T7 i1 o* ?: x! h" `9 s
分分鐘佢地唔使還錢
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8 s3 q6 o( _8 T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,
  t* _3 u7 y! k% n0 i, \連國家都係問人借, 不停發債券, 印鈔票
! O( v9 |1 \4 K* c一個國家好少出口, 而又大量入口 ,反映到佢唔多生產+ o' }$ j" `" }( T) N- \
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
; q5 K7 q1 W7 P; @4 w/ Y4 E. j咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...; w% J  J* |( M; S$ K; [5 o7 H
因為以前未生產, 先消費
- P& C7 y9 J5 y而家就要多生產, 少消費