0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
- B3 K! c3 Y- d$ S' RWhy bank will sell 借據給第三者???
( a* }8 S/ Q4 q( s$ nI was so confused.....

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3 {/ C4 Y1 h# s! E, H; M- X1 V講到尾都係賺錢; v9 f8 @5 A( N/ H$ \% b
so銀行可以不斷放款7 L* I- I) d1 F$ _
美國的房貸問題散佈到全世界
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mortgage loan
( u& A+ i. k, v2 m* f>conduit3 t% V8 F  e: R9 T5 {$ i
>RMBS(Residential Mortgage Backed Securities)6 Q! d( p) }- i, F- ?/ [8 S
>arranger& A& p5 q& V1 H9 s' I' V
>CDO(Collateralized Debt Obligation)1 c& j5 j. d! R- I8 |$ y
最後去到投資者

Kev

i thought it is the reason of rate of return.% t+ c! y  P8 ?% b/ {9 l! R. I
CDs could have different ratings, AAA -> F,- ]& E' S' B# C$ u
more risky ones would have higher premium (interest rate) as a compensation for an investment.
. Q$ S: m! M; p. h( m8 Qmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
/ r( {4 k; s. E* x2 N* o5 N4 Bin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
7 L0 S( d) G/ K' m0 lAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.0 c) {. S( f: \1 Z
similar to bonds, CDs trading in the secondary market have different value at different times,6 l3 t$ j: L! O, W: O+ O: n; R
normally the value is calculated by adding it's principle and interest. ) @$ K( m# ~; S2 k& z8 P
eg. the value of the mortgage+the interests to be recieved in the future. ; m* ]% p9 J4 v7 l2 T6 R" ^
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.2 t; i" C7 y% V  |& y9 K9 k
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im not quite sure if the multiplier effect does really matter in this case.9 O( R! P6 T9 L' m7 v' ^
in stock market, it's the demand and supply pushing the price up/downwards.
; j* W+ O9 Y. Q" m2 T( N3 xFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
) G1 Y* Q9 j7 W6 mA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.( w+ q; x, W3 f# ?! G$ \, 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.
3 B; C, ~- b2 ~0 q, M' gbut 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
5 Z/ c- |. E0 F9 xRefer to last example,
; `' a( }( s6 {% l$ x% Pthat means bank A have no money because we borrow 10 dollars from bank A
  L; Z- @1 K* k/ p2 WBecause bank A doesnt have enough cash on hand & U( m- q7 x$ t  N
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
+ J. W& P  \" u/ _so does it mean if E failed to pay D,
* ?5 h' M9 a; @- ]" `/ U" _all the B,C,D,E have to go bankrupt?
2 o9 [: h, S" u: D. b, d' Y4 s5 z) m, L

! V! T: b  j, j' v) h+ r+ zthe multiplier just tell how much money created in a whole economy, 7 W# }2 ^. ~6 H9 o
in this case it doesnt really matter how much money is created,
: [# y+ x! a. N0 \it's the problem of the debt itself.
- [/ d+ N) d3 v2 [+ W0 o* o/ gthe 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
+ ~+ Y" E/ ]& Z3 G( u* `小弟一直都唔明...
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6 i( `" \; E$ j! j0 }9 T# P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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7 N# o7 ^& l" d% h/ ]0 j$ x敬請各師兄解答9 y  J0 y& p& s, v: ?! [
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Thanks

8 u) m* z' d' o0 x9 x那些根本係 紙上財富  # E+ [# O, g, {/ z8 z
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 graphic3 M/ O) s( g/ o4 B

7 b6 U9 b  K/ J; Khttp://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 K2 U- [7 q7 `當經濟好,投資銀行相信會賺錢, 物價既估值相對較高8 d/ v5 r( `0 r* E) e; L
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
: m+ F" E+ W* l- q. }2 ]8 y. ]個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
: s" y' Z4 u/ p( w- L' s0 E! m扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,$ L6 O$ t4 E* v$ O; m
計番回報率就已經係50%,所以可以好好賺
+ i" g& `* w; s7 Q" }3 n前提係銀行之間要互相信任先可以咁樣借法+ o. a' l5 o, I( c
同埋個市場既前境要係好先得7 D3 i( K( [# o6 w, t. s; {
但當經濟一差,公司估值趺了,物價不升反趺
: t/ W. F  S, H3 M1 R例如剛才說10蚊的, 趺到得番9蚊, ) a8 r, k# {; h3 k
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%' l0 k+ |7 e% `, H4 h
所以你就會覺得D錢好似蒸發哂咁% o  m% t5 K$ D2 A* m$ f

0 o' N: h' x% j8 j1 {1 E7 k9 G你都可以當標野咁諗, 個樣野多人可以狂升值, 5 B/ V  ]+ H$ t- Y# I. D& o  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,
0 V2 i# u: I& f0 W淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ) T5 p2 Y" S2 T8 I! x8 Q" c5 {9 F. F' 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
8 m9 f1 }# `# L8 j1 y) s; 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
) H. ~; ^* L/ V. p: x唔係d錢蒸發, 而係比美國佬洗晒未來錢, 1 a) I7 Y" g, F& D
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 {" H; l5 E/ ^" k) [* f( ?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/ Z: P; V- C( {7 A# G4 L, k& s! r$ c
咁你話d錢蒸發左去邊? ...

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正係咁樣
" R6 ~: i/ o8 ]" M" Z! a2 y/ V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
8 K: \/ |$ ?9 c; 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,5 G8 J% S1 n# D" Y# a5 V; U
連國家都係問人借, 不停發債券, 印鈔票
, `' ~; U% g( R4 Z/ n5 S一個國家好少出口, 而又大量入口 ,反映到佢唔多生產7 r7 k8 O2 B" k5 J4 h! U4 s
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
7 k' g  B, h! Q  D5 C咁而家"爆哂煲"算唔算先至係變番"正常"???

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% \: x8 D/ H$ O其實係..." x9 S/ ^) D6 Z2 _: l
因為以前未生產, 先消費, f+ N/ r$ X" R. R
而家就要多生產, 少消費