0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
" T9 {6 d' X% a& H' Q  CWhy bank will sell 借據給第三者???- _) _) I( Z. U( W) s; {' U$ l* Z
I was so confused.....

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講到尾都係賺錢2 ]2 x- W# f/ k4 D8 \, ?# l
so銀行可以不斷放款
! b+ I2 |9 `6 G( X  F1 ~: g& w美國的房貸問題散佈到全世界7 @$ V: i+ @! Z6 ?" W/ h
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mortgage loan ' S$ }0 i& W( |3 `. ?- ?7 M' Y' z
>conduit" x! W3 R( i( _
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)
% K+ o3 P: k2 V4 u最後去到投資者

Kev

i thought it is the reason of rate of return.
& L" {! ?  V3 m7 F& R# S$ eCDs could have different ratings, AAA -> F,9 `7 `; V8 O# d4 l+ ^; ?7 `
more risky ones would have higher premium (interest rate) as a compensation for an investment.
+ N; g! Y: _$ Z. l+ S8 w7 Hmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,) w! \: ^3 W+ V* V1 ]; S
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
9 L7 n' u  a# M  P$ `' @Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.7 L) j4 D2 R2 S
similar to bonds, CDs trading in the secondary market have different value at different times,
5 y" F" O6 ^1 q6 rnormally the value is calculated by adding it's principle and interest. 1 W9 s' _5 F! U2 ?6 m( b# b- o- M
eg. the value of the mortgage+the interests to be recieved in the future.
% `: x: {! y' p2 ^' obanks 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.! n6 U/ d$ v5 M$ g' d' j0 @& i( g

: M' o# x: X- i1 D1 V. o! pim not quite sure if the multiplier effect does really matter in this case.0 v8 f9 I1 \0 K# ]
in stock market, it's the demand and supply pushing the price up/downwards., I8 ]6 q/ J: e& w2 z
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,+ g* b& l3 i1 e; C+ _- _8 D! S, M
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction." E; ?  s9 B+ U9 N
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. / @/ J2 S/ @% R( ^
but the value of their assets did really drop significantly.
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5 o' i3 h" S: a$ C! z7 j[ 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# \& g7 \( t$ T8 t  M( p: U
Refer to last example,: H/ |0 z1 s/ L7 q% }
that means bank A have no money because we borrow 10 dollars from bank A
! r& W2 g7 D* y2 R$ q; j5 E& NBecause bank A doesnt have enough cash on hand
& L. p, U0 H) J0 e8 u2 V- Btherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
/ a, f, X# a. ?' mso does it mean if E failed to pay D,
( y4 d: c& I7 D0 ^% a8 nall the B,C,D,E have to go bankrupt?, e# ^; F4 G0 ~8 d
$ i$ w( ?% |  @3 a0 k

/ x# r) X4 i: G5 v6 vthe multiplier just tell how much money created in a whole economy, $ H- k  `! r; T8 l/ B$ ^& E1 @
in this case it doesnt really matter how much money is created, 2 Q; a3 V8 Y: C
it's the problem of the debt itself.
! x0 D* J, S6 }& uthe 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
# A) ]) A1 a1 X: t/ x小弟一直都唔明...
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; i) H# m; w6 Y( F- N, D全世界都蝕錢，咁邊個賺緊錢呢?$ Q4 e$ ]% c* A( B

/ X& C/ b8 G- Q: C3 P無可能淨係有人蝕錢無人賺架嘛...1 I) S0 N# ~. n+ C& T" F1 |

9 q, ~; r6 {5 S敬請各師兄解答
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Thanks

) y0 ~5 G0 c9 S那些根本係 紙上財富  
1 Z" @5 ~! X$ f# y# d4 r0 N% r1 r$ ~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 l. s6 h* {- z/ N; @當經濟好,投資銀行相信會賺錢, 物價既估值相對較高+ Q. `  s+ L1 W" W4 @' F2 \
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
9 f! L. q, w8 i個件物價係市場好既時候升, 例如15%先算,變左12蚊啦$ ]1 w$ G2 Q& e' [% {! X  e
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
1 X" x) z& l' ^. U計番回報率就已經係50%,所以可以好好賺" }& i* x( `; H; r! W. m! o- m
前提係銀行之間要互相信任先可以咁樣借法
* [$ K7 [0 q3 N同埋個市場既前境要係好先得" v8 K0 _% L% l
但當經濟一差,公司估值趺了,物價不升反趺) T, {0 O4 C1 L) v9 J9 k
例如剛才說10蚊的, 趺到得番9蚊,
0 h# \; f' r: T咁投資銀行一下子就要還11蚊, 一來一回變左虧200%8 {* V( j6 _" y+ C4 F
所以你就會覺得D錢好似蒸發哂咁- O7 X. P$ d( Q9 d0 Z1 F
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你都可以當標野咁諗, 個樣野多人可以狂升值, " Q, W4 H: b& [3 o3 r- 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,
& K- g2 S5 N; H0 ~, x+ z淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, - @( w3 Q! P' t) A" o* d
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
* p: Y; k) p! q. a. n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) U% ?, e7 _$ K) S2 S
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 3 c- F9 q4 K' ?8 e& _
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 4 r9 E' J" K! c
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
; i0 C9 F6 T8 E咁你話d錢蒸發左去邊? ...

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& [3 u4 m. K( `; P& K正係咁樣
3 f6 I2 h1 _6 i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$ c$ @- K- C3 N% T3 W
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,
: O* g! M' t' z: ?/ Q% Q連國家都係問人借, 不停發債券, 印鈔票
1 u0 ~# K0 J1 E1 m一個國家好少出口, 而又大量入口 ,反映到佢唔多生產) k& Z4 o- f" n- e& r& i; g: T
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
5 k9 V+ P4 q/ u) _2 o; m咁而家"爆哂煲"算唔算先至係變番"正常"???

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$ i/ C1 J1 D; x  E其實係...* u. c# e% s1 c3 c3 t) m; y" u
因為以前未生產, 先消費
7 Z# Q4 M2 u9 [, L而家就要多生產, 少消費