0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif1 m: X5 F) ^( Z7 f2 z# Y
Why bank will sell 借據給第三者???4 ?* R. j  R; C" H
I was so confused.....

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  R9 B+ B* }6 m# W5 D9 `8 [- I講到尾都係賺錢6 d( c0 e& |: E# C
so銀行可以不斷放款
: E6 U: w! @9 i* o% m  B美國的房貸問題散佈到全世界; G3 d, }) f5 m+ q3 `0 p& C. X

! S8 W  ?) x7 e( Qmortgage loan 8 V1 r: F) a3 o/ _
>conduit
' s6 x. c9 C7 K2 e>RMBS(Residential Mortgage Backed Securities)
  d3 t8 Y* V& E6 O. s8 H( v>arranger- c' ?8 k0 `$ N2 u% ]9 r
>CDO(Collateralized Debt Obligation)
1 E" s6 s( D6 t; J( J2 q* d- a最後去到投資者

Kev

i thought it is the reason of rate of return.
0 r6 h% z- Y. ZCDs could have different ratings, AAA -> F,
& {# L1 J, [+ S1 q) mmore risky ones would have higher premium (interest rate) as a compensation for an investment.' K, F) S% [* V4 g6 g  q
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
: H: o  {1 y9 p* {+ k/ E5 sin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
4 Z' C4 E' ^/ e+ q+ }& `+ jAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
8 ~5 D  N$ d0 Z9 Osimilar to bonds, CDs trading in the secondary market have different value at different times,
# e0 Z0 Q9 G: A- N- Rnormally the value is calculated by adding it's principle and interest. 8 E0 P6 ^, L4 d7 z# }% f; d2 M' {
eg. the value of the mortgage+the interests to be recieved in the future.
9 y( I6 C7 U+ G' b- xbanks 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.9 _" S5 {3 E( K# J4 J2 t5 p1 k

$ f6 L! h+ e6 ^2 mim not quite sure if the multiplier effect does really matter in this case.# b2 p% D' `5 g9 H" a1 t5 d
in stock market, it's the demand and supply pushing the price up/downwards.
8 x( a* r& p, H  pFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
3 O" P4 H# z" j$ U, L# V( S( F4 bA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
/ B0 Q' z  \6 N4 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.
4 ~; P* T9 R, {1 Cbut the value of their assets did really drop significantly.2 q5 X7 v! {$ I

7 x- {9 K  T' i5 }& q[ 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
2 @1 _+ a" `& eRefer to last example,* H5 P/ Z( p7 C$ l# w1 A, m( }
that means bank A have no money because we borrow 10 dollars from bank A
, }7 y+ k0 e" w+ rBecause bank A doesnt have enough cash on hand
0 {# ]6 M2 J: [( I- P6 X# h: rtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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6 U/ n- a$ y+ M$ p
A->B->C->D->E
) T0 ^  w5 G3 f" mso does it mean if E failed to pay D,
& p9 K  q, H; T( T$ Pall the B,C,D,E have to go bankrupt?
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. [/ N- z# c9 G
the multiplier just tell how much money created in a whole economy,
0 N- ^  t- ?5 m8 r% e+ r4 Ein this case it doesnt really matter how much money is created, 8 D) s& v( t5 L% d; j9 J
it's the problem of the debt itself.; E& ?& Z6 W& [% c3 ~# t6 C
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.gif9 f% Y9 M& o3 b; O4 y
小弟一直都唔明...1 L& j# ?* [, |

3 e6 K6 Z6 J$ E; M7 L全世界都蝕錢，咁邊個賺緊錢呢?3 I0 N  X( m1 O) T4 P+ W- b
+ L( U; L; G4 d# C! e
無可能淨係有人蝕錢無人賺架嘛...: o4 o" z& ^4 P  b: |2 X0 F% a
% H7 {) p( |* G' x" z8 c; f
敬請各師兄解答6 M' T5 u% @* z% R% @

9 W! h) d, S; L! TThanks

0 P$ X7 `, F/ y; T5 T5 \0 g那些根本係 紙上財富    `3 M; R% q2 M% }% j
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& I( B# g* s, q% J/ r6 Q
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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4 M' B' }$ f2 u& E# f+ g, {' w
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
8 t6 Z! O* E% O3 @8 u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) q3 L3 e, q4 e! f7 j# \. C個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
1 b! |) e; M' v, Y扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,8 }" x5 U, N" c' \( S
計番回報率就已經係50%,所以可以好好賺9 G+ H6 p7 ]( k" z3 x$ J4 F
前提係銀行之間要互相信任先可以咁樣借法5 V5 _3 w! O4 R+ Z2 K; H+ D
同埋個市場既前境要係好先得% p  I# `, H. c# X
但當經濟一差,公司估值趺了,物價不升反趺& G! A% Y* b* s
例如剛才說10蚊的, 趺到得番9蚊, / b) V3 X1 k  E6 p- k" i/ s' ^
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
2 z0 z5 ~+ v  M8 {; G& N所以你就會覺得D錢好似蒸發哂咁" A0 @; f$ J+ {' H* h
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你都可以當標野咁諗, 個樣野多人可以狂升值,
8 L' ]% d5 w2 d/ ]" i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,
# N9 w7 w, o( M8 s淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
6 ~9 t3 q6 x$ X0 Z# N  x/ z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& f( I8 `1 F0 M- ~4 D0 M+ y( F
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
  e- X* T8 m! ?! k; G唔係d錢蒸發, 而係比美國佬洗晒未來錢, $ t( K4 p/ w' v0 @9 e# E
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
: M4 M6 V6 C( R$ N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" I. H- E6 r+ r3 k& s& X
咁你話d錢蒸發左去邊? ...

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- P* |4 o$ G9 I' b+ I正係咁樣0 R  C6 m. b8 [" ~6 \. E! w
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 X& O# o7 o. ~' Y# m
分分鐘佢地唔使還錢
& {: {& f! Y  K( Y& d" I) E0 s& ]: {
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,4 `3 a" `6 d5 U5 X) K9 J: B
連國家都係問人借, 不停發債券, 印鈔票
( Q! ]' B4 w. g/ W9 s. ]% k% u9 V  l% _一個國家好少出口, 而又大量入口 ,反映到佢唔多生產0 g  c; w' u9 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. W8 k3 n) K3 {" Q6 ]; ?* F' ^
咁而家"爆哂煲"算唔算先至係變番"正常"???

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3 B8 N" \+ |* l( s( U% x其實係...8 W! p: |: q- @; Y3 Y. A
因為以前未生產, 先消費7 Y/ r  ]1 i- L% }5 @' f
而家就要多生產, 少消費