0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif% G# g, p, a; e
Why bank will sell 借據給第三者???
  e2 N/ ]/ f. i0 x9 QI was so confused.....

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講到尾都係賺錢5 z% F0 {. G) ^7 y' N8 l
so銀行可以不斷放款+ D( R! b2 A+ M2 [
美國的房貸問題散佈到全世界9 x- N% {1 w' O" k) W6 P

( A. Q# @7 ]+ [4 Hmortgage loan : F6 G& s6 v: o
>conduit
7 }: N$ Y+ `. u>RMBS(Residential Mortgage Backed Securities)
4 Q# e( v' N7 H7 K$ D$ U>arranger
& T3 i6 k1 ]  R6 C>CDO(Collateralized Debt Obligation)
% [" I6 ^/ P7 R+ E1 F# Q6 y最後去到投資者

Kev

i thought it is the reason of rate of return.3 E# F: ]5 O9 \
CDs could have different ratings, AAA -> F,3 c  J' `" N  c; r  b" ?
more risky ones would have higher premium (interest rate) as a compensation for an investment.1 @% w: W; h9 m' E, l
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,/ l0 P+ ?. M  r7 a( c7 R
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.9 d$ {& i9 K2 t8 P/ l  B6 q1 o
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.- F& n: _" b% P. u, Y  i+ U5 W, H& z
similar to bonds, CDs trading in the secondary market have different value at different times,, E# h: u+ L3 h+ N
normally the value is calculated by adding it's principle and interest. $ o+ v" ]4 h/ ~
eg. the value of the mortgage+the interests to be recieved in the future. : \1 b; U1 Y) f0 b% y
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.# C, o! W9 `- ]! L

- e1 y% N( v$ G5 J. }) S) nim not quite sure if the multiplier effect does really matter in this case.( u4 C" {. W$ Q% e$ S
in stock market, it's the demand and supply pushing the price up/downwards.5 Z8 C9 v! V3 Q0 o3 y( N7 ]
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
, ?& U+ D2 N9 m% y7 s% ^: WA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.# [1 N) ?6 m% 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. : ?/ c2 Z7 H( k8 d, @/ l
but the value of their assets did really drop significantly.
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5 D% I# L- r1 U4 T[ 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% e( _$ D; ?% L2 I1 I: `# Y
Refer to last example,
2 h, E# q9 `6 K! W3 R( Z) _& }that means bank A have no money because we borrow 10 dollars from bank A
7 j: o, @' K) _' zBecause bank A doesnt have enough cash on hand
/ z( S1 S* w1 }; g' ?6 dtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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% m- ?9 _- U  GA->B->C->D->E! a3 a( J; o* H8 j4 n
so does it mean if E failed to pay D, 9 _- n' ^) N4 t! x5 k* z
all the B,C,D,E have to go bankrupt?# Y- [2 M9 @, p- r: ~2 _6 V+ p

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# t% D2 T) l  Athe multiplier just tell how much money created in a whole economy,
3 {& ?8 W3 _) V8 K7 r* Bin this case it doesnt really matter how much money is created,
# U5 v  z1 s3 U2 l$ lit's the problem of the debt itself.* B2 B1 {( Y1 o. J
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  w+ r2 \$ w5 e. S+ M
小弟一直都唔明...
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" h; i+ t/ T) W5 E5 _# `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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! N* e9 C: b4 Z  T/ p% i6 `敬請各師兄解答
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  m/ F; }+ ?/ y+ v- t( d+ NThanks

0 N( b" Y1 U. x; B7 A' e6 Q那些根本係 紙上財富  1 g1 y' @- ?  }( T3 `) Q8 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
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! K+ ^/ N9 W2 G& _5 s  `, Xhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產) ~$ @4 ~4 T8 W- q# {7 G
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
# w- Y7 ^$ ^% L! T8 ^2 o5 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
9 R' q; L# p8 W/ b  e  u: M+ v個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
+ R- m/ f7 {5 E& Z9 p扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
! I- J/ v2 ?. A+ ?- s, I7 c計番回報率就已經係50%,所以可以好好賺5 G$ l( t/ @* }& G: I4 T  G- W9 o
前提係銀行之間要互相信任先可以咁樣借法
* D- @0 D' a: M5 k同埋個市場既前境要係好先得9 b( K1 m% `% j/ J$ s8 G
但當經濟一差,公司估值趺了,物價不升反趺
( m+ `8 v- p6 c( J; g- q# U. A例如剛才說10蚊的, 趺到得番9蚊, 0 j$ E4 U4 x: N' F2 N% u: P
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
8 r. I; q' P& {3 a* k所以你就會覺得D錢好似蒸發哂咁9 a4 m; E  @5 w
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你都可以當標野咁諗, 個樣野多人可以狂升值,
3 q0 ]4 \3 [- `! p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,
5 p; Q& V4 k. W淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / E) I0 |! P( t
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
- e2 E) \# J, ~( j# \6 P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. U( a0 p+ u; w& ^" s% N. U唔係d錢蒸發, 而係比美國佬洗晒未來錢,
- z6 h) ^3 O/ d: ]3 V淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( c" w6 y0 Q6 |, ?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 ?, {" \% j2 G" z0 p咁你話d錢蒸發左去邊? ...

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正係咁樣
& c2 i- A" X+ t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
& D  u! `$ t+ f6 T6 _/ v& m' \; Q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,
# v( a5 C5 [9 x- _- R) y連國家都係問人借, 不停發債券, 印鈔票  M! h) g" N) x8 d  w) M$ }
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產# Q% e) R' @+ T' t& s% f
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.gif1 E4 ?4 |$ J+ I; O1 \
咁而家"爆哂煲"算唔算先至係變番"正常"???

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3 T8 H6 `/ t( b& p5 K# K( p# X其實係...
% S& E+ g( G( }. n, l$ R; H因為以前未生產, 先消費, l5 r# O7 O, a* U( T. M
而家就要多生產, 少消費