0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif' Z# [, `1 L/ @2 Z
Why bank will sell 借據給第三者???; t  P+ b! t1 O, n2 E! @& g7 }3 a
I was so confused.....

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6 p' Q  A! D. a講到尾都係賺錢
) q' U; `/ c  X# ^5 u* A% Oso銀行可以不斷放款0 l% V4 R. P1 A4 T
美國的房貸問題散佈到全世界
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# |7 b  [5 C& B; Cmortgage loan 6 }9 m( c" a2 M# r' B
>conduit9 T4 t2 F7 l/ e4 ~
>RMBS(Residential Mortgage Backed Securities)- D! I/ @4 y8 m, C
>arranger
' S! t& M9 N! I1 [9 [7 a>CDO(Collateralized Debt Obligation)
& d8 E9 a! _$ G' ?9 u( m/ r最後去到投資者

Kev

i thought it is the reason of rate of return.
- n1 Z( U; _$ d$ n) DCDs could have different ratings, AAA -> F,8 ^8 M4 E2 {% x" x6 u4 V
more risky ones would have higher premium (interest rate) as a compensation for an investment.
5 H: U4 L  H5 M- n. Omain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,! F& `: [! v: S" C6 U
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
% x6 v; c$ q7 q# W! x3 a/ G7 MAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.  {, _- q- b2 c
similar to bonds, CDs trading in the secondary market have different value at different times,/ r/ ]6 [7 [8 f3 q2 K& R: X4 n
normally the value is calculated by adding it's principle and interest. 9 q3 o# k5 w6 [" `3 c( [
eg. the value of the mortgage+the interests to be recieved in the future.
* x# y4 D" ~! @8 b5 ~- P, Rbanks 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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' P4 l' w  X2 _- Y* lim not quite sure if the multiplier effect does really matter in this case.
7 c$ x1 i9 X$ S* y" b0 h7 Sin stock market, it's the demand and supply pushing the price up/downwards.
1 ]- Y  q# t; l. M& M8 }For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,) G7 [# T# @4 v  i/ ?4 J
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction., ?1 k' q! w  M* ~* Q% O
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. : p; ]+ E9 B& d3 L6 t! D5 [" O
but 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
% j! o: q, ?' F- HRefer to last example,
! ^4 N& z1 E+ W# x0 R' z- R+ _$ Nthat means bank A have no money because we borrow 10 dollars from bank A
& V4 ?2 l- E/ m' l8 \* dBecause bank A doesnt have enough cash on hand 9 E( D! l8 \2 ^) o% z+ i4 l
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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9 |* `, n8 L4 o& U$ C3 H& y$ X5 p4 CA->B->C->D->E
/ }3 r! K$ X' L# x6 n( Bso does it mean if E failed to pay D,
" V( C/ K3 s) u  z7 X$ `all the B,C,D,E have to go bankrupt?
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. v# d$ u2 n7 j  V5 p, nthe multiplier just tell how much money created in a whole economy,
# s( `3 t. E; x$ sin this case it doesnt really matter how much money is created,
% @  ]. y8 h* F/ P) K2 Mit's the problem of the debt itself.
/ W5 s' p1 Z9 x) O; Cthe 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
% ?# s$ f5 s4 J4 R小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?! V: Z. |  g" k* F  i" N, T

. y% K$ O# A1 M$ u* Z, B9 R, s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  
4 s9 u% K& n3 l! U' G0 h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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) w$ Q1 K2 n8 z8 b, V( w7 K2 v. j5 Thttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
# o# p! d& s; Q" D7 y& h* }當經濟好,投資銀行相信會賺錢, 物價既估值相對較高, C$ a$ m) B4 f5 _0 f
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
; A/ p6 ]% `  k個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
0 w3 U% c& g8 U: |扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,7 X- L& N& N0 B8 d6 Z
計番回報率就已經係50%,所以可以好好賺( o% W! l! a: E' X5 f& g( Q* Z+ H
前提係銀行之間要互相信任先可以咁樣借法
2 N9 y! [' b7 A4 n" j) f' S( h同埋個市場既前境要係好先得
4 }5 ^( b5 q: G3 Y2 j+ _但當經濟一差,公司估值趺了,物價不升反趺0 x/ d! h9 u/ r+ j1 i
例如剛才說10蚊的, 趺到得番9蚊, + H( J, n$ i* j# w$ R
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
, L" K& V, `' O+ V- N6 g# \所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值, : T* s4 W, m6 @% Q
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,
- C; m5 t' ?5 F2 v. |5 a/ l淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 A8 t3 U" v! E# V7 p5 G" b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
6 f, ]  C  g. y4 M( w/ z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
1 H- b" n0 _+ ?唔係d錢蒸發, 而係比美國佬洗晒未來錢, , J# O; e, n/ D& N/ s  |6 E7 ?  J! n
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, " L. a; m! x# c% q2 ~
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 B+ ?' W4 b3 @/ d& q/ ^咁你話d錢蒸發左去邊? ...

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正係咁樣
" G# K4 @: e5 P- n2 {1 l5 H- x6 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; H8 q7 G! |, [* E5 B; ]
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 `" m7 S' p5 t) G
連國家都係問人借, 不停發債券, 印鈔票
( P* {5 F) Y9 @& [  H一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
# }1 @. w: W8 w. j: L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: Z# `6 X# p" V( H4 G+ M: J
咁而家"爆哂煲"算唔算先至係變番"正常"???

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+ v, v) ~; p9 v9 a$ @/ D' G其實係...* p# `, o7 J1 s& g/ V
因為以前未生產, 先消費/ [$ q: K! |+ p: c" Q' p+ H/ j
而家就要多生產, 少消費