0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif  S% b+ D: t' b9 o
Why bank will sell 借據給第三者???6 J* M; M9 V9 {$ Y5 u( T; l
I was so confused.....

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4 T/ \" y  j* w講到尾都係賺錢
0 H0 C  ^$ q) {1 J; Kso銀行可以不斷放款. {6 e7 F& L+ H6 t2 ]; ]
美國的房貸問題散佈到全世界
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mortgage loan . v6 u; Y& _0 e; u7 n
>conduit1 y' S3 X! V0 b* {+ U7 ~2 `' k  t
>RMBS(Residential Mortgage Backed Securities)
+ X- v1 F& v- w8 c( D# n>arranger
7 Y8 J- p5 O* H5 M1 s>CDO(Collateralized Debt Obligation)
% D3 T- [8 \, m' {# ^) ^3 d最後去到投資者

Kev

i thought it is the reason of rate of return.( T' A) A# N" L
CDs could have different ratings, AAA -> F,; [. R% N9 }& P9 u( ]2 d& s' l
more risky ones would have higher premium (interest rate) as a compensation for an investment.
1 G$ Y# x# e9 K5 X& fmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return," ^- `6 e" _: o( Z
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.( J" d: j* z, F
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.% {" K# Y9 O3 T& E1 M
similar to bonds, CDs trading in the secondary market have different value at different times,& l- I/ L& S7 F
normally the value is calculated by adding it's principle and interest. ; m( j0 |+ j7 v  f2 a% A
eg. the value of the mortgage+the interests to be recieved in the future.
0 L" W  F# C+ m: x5 R; u( {( wbanks 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.# v* p$ ]8 P8 l$ w+ R) f7 e
in stock market, it's the demand and supply pushing the price up/downwards.) G$ `. R1 Z; _7 r
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,5 F3 X, t% R# n+ u* T7 \# S
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
9 K* V) u/ \$ l8 r. aThe 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.
: q7 Z$ O$ e; Y( sbut the value of their assets did really drop significantly.
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8 @. R* p2 m: t* w[ 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
3 P3 n- @4 a$ d- v# @% ?: m- u( WRefer to last example,
% X" b# F% _; Gthat means bank A have no money because we borrow 10 dollars from bank A
: h% B3 w2 `8 y4 m7 G, V9 NBecause bank A doesnt have enough cash on hand
9 K2 @; L. h, p4 ]3 atherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
; t$ F. W7 c& X, d" I" D7 Xso does it mean if E failed to pay D,
$ {& ^3 g( B3 r& s5 O2 {. z* F% hall the B,C,D,E have to go bankrupt?8 J8 c6 t1 K$ a3 ], C
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the multiplier just tell how much money created in a whole economy,
6 o/ \! ~8 n% t6 Yin this case it doesnt really matter how much money is created,
' L" q6 _$ G* r' i$ Tit's the problem of the debt itself.' V! J3 E  |; p, \: T
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
# Y1 S) E  l4 ^8 R9 H; R/ _小弟一直都唔明...+ ?; ?+ V* F1 s5 z. B2 x
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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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敬請各師兄解答7 b) y) i1 i& W& r$ E* f: e
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Thanks

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那些根本係 紙上財富  
4 a' n6 q0 q! c/ h0 a6 r/ A3 ~9 I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 graphic5 e! E- q& f% D$ j6 j! b
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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
: V- p8 c+ ]0 g4 F/ M# x* b當經濟好,投資銀行相信會賺錢, 物價既估值相對較高! ~8 F' e4 h- e1 }3 a% T
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
  k& ]) E2 \4 [1 S5 M個件物價係市場好既時候升, 例如15%先算,變左12蚊啦( t( u- J% n! Z" k( [- m
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,9 j/ d7 @" k+ K$ r- m* Q
計番回報率就已經係50%,所以可以好好賺1 Y0 }& o, O) j8 L
前提係銀行之間要互相信任先可以咁樣借法
- c9 U/ i4 q, o+ u" X# o; r5 N+ d同埋個市場既前境要係好先得
( f: \# [& _( ?; S& h) z但當經濟一差,公司估值趺了,物價不升反趺/ I: s* C! S8 ]3 q$ k+ L9 n
例如剛才說10蚊的, 趺到得番9蚊,
5 |  z( d! K* G% x$ N3 O, U  T% x& V. P咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
' v! Y. Z& Z6 A: d所以你就會覺得D錢好似蒸發哂咁: M& X( n3 K/ t3 k5 n; \
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你都可以當標野咁諗, 個樣野多人可以狂升值, # t! W+ \9 A4 l) n2 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, * g/ x. H. i- P. P1 F' o1 u
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
9 D) L$ Y6 i2 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
2 U4 U, G) c3 D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! F: d# C( |) _) E8 b
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
3 y9 c3 W: [/ B$ D9 N! C! V2 h1 f淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , h6 `  E1 P7 J+ B  U% j+ p! n$ J1 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
$ r" \2 T$ d" G6 b5 ~咁你話d錢蒸發左去邊? ...

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5 K5 _% }: Z7 n8 B: R9 A( a3 F3 H正係咁樣( I+ y" V3 k# [0 B, A4 \
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 f: N) P& _. |7 y分分鐘佢地唔使還錢
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7 G, p' Q. J3 G, G# {" m5 m' @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,+ I+ V1 n- w1 j* t* l7 u
連國家都係問人借, 不停發債券, 印鈔票; e: w- w- U! ^4 [
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產+ l) M$ P& S! K9 x0 t' k0 Z1 c0 h& 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
* b4 ~; a4 r) z1 i1 o/ ?咁而家"爆哂煲"算唔算先至係變番"正常"???

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4 a2 O# l5 n$ m8 }9 C- c5 P其實係...
( l0 ^" M! K0 j( R+ ]7 Q因為以前未生產, 先消費
$ _4 ^, ~% u% C( n# n9 C而家就要多生產, 少消費