0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
9 B; b) u! y" f$ q, Z! tWhy bank will sell 借據給第三者???7 C$ I, m( B: r
I was so confused.....

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- ^* X  Z7 o0 g+ s講到尾都係賺錢( X  o: B6 Y5 c3 i, t! ^
so銀行可以不斷放款) i3 L7 N+ n) {$ ]
美國的房貸問題散佈到全世界
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mortgage loan
5 g& G* r; c/ G5 s) Z- Q>conduit' H3 L) x6 R9 K6 C* r7 W! K
>RMBS(Residential Mortgage Backed Securities)
+ ?) Q7 V$ y3 l# ~+ r3 @& |% O>arranger
. b$ G' H4 X" i$ N>CDO(Collateralized Debt Obligation)
% y$ F3 y" d, R  [( x最後去到投資者

Kev

i thought it is the reason of rate of return.$ J4 n5 ^" `1 ]+ Y7 @
CDs could have different ratings, AAA -> F,( C1 k% T8 B! o% o/ o( ?3 E
more risky ones would have higher premium (interest rate) as a compensation for an investment.5 k) O; [% Z/ |/ u2 A( }0 ~
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,. X% R' m2 b1 g  m! y
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.: i: Z" \& g. E$ `. q
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.1 d! M# P' X/ ~3 o" d
similar to bonds, CDs trading in the secondary market have different value at different times,9 m5 Z5 ]6 L! o3 A
normally the value is calculated by adding it's principle and interest. ( M# k7 x% V* F+ v: t# s. q! r
eg. the value of the mortgage+the interests to be recieved in the future.
* L. N% T; F6 c6 ?' e) Gbanks 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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7 a2 E: {, W8 O1 ]6 s* bim not quite sure if the multiplier effect does really matter in this case.# q4 W5 o- D0 F& ^7 ?5 r
in stock market, it's the demand and supply pushing the price up/downwards.6 |" ^2 ]% ~$ A0 e: j4 ^" G0 [1 [
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
/ S% R: u% H" ~' [) SA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
6 g" Z( ^1 U  ?- eThe 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.
2 x0 |1 ]5 j: m7 i" ]but the value of their assets did really drop significantly.
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/ r+ _. K; U6 Z$ b1 I+ z( Y[ 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
# r( G" L! l9 w; j- @+ u8 `0 HRefer to last example,' A- J! Z( L7 t$ }; j3 c* d7 |6 Z- l
that means bank A have no money because we borrow 10 dollars from bank A
# d8 J7 y  o8 Q) kBecause bank A doesnt have enough cash on hand
, c) ~: r8 g: h% c! l+ Ntherefore bank A need to be bankrrupt ??? Am I right ?? ...

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1 x4 |/ i4 l" |1 O; @& k2 x) {0 X% j: H4 y0 Q2 Q
A->B->C->D->E
* h* g! t  [& v0 {: ]so does it mean if E failed to pay D, + u9 h6 U' N4 [% F+ S: [
all the B,C,D,E have to go bankrupt?
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; y; w4 r; p8 mthe multiplier just tell how much money created in a whole economy, ) K- w/ q6 K) c& E
in this case it doesnt really matter how much money is created, # o2 Z7 z2 V" M$ E( m; u' k( B
it's the problem of the debt itself.
; p! N4 f& G# y3 ]7 N1 w- bthe 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
1 l$ s1 O2 J2 O小弟一直都唔明...4 q. M* i; J" z* a9 ?# K2 M
9 A4 r7 E# C3 [
全世界都蝕錢，咁邊個賺緊錢呢?0 O' X& b- y  s1 Q% }+ C

% `( @  u! F( l無可能淨係有人蝕錢無人賺架嘛...5 z" m) F* g+ p; d% d% `

; q. j) ?7 ?0 ~敬請各師兄解答
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9 l- o& W( [! z5 `5 O) K+ WThanks

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那些根本係 紙上財富  6 `. S- G' w' n
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5 B. ]: q  [6 [* x9 c
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高9 m- L& h7 x! G) d6 D& j$ P
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$ O: w. p: @) h% Z/ N
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
# G$ t' m6 j2 q3 Q扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,+ c$ f# ^1 X4 E$ ~5 j
計番回報率就已經係50%,所以可以好好賺, ^! \7 [  Y; D2 R
前提係銀行之間要互相信任先可以咁樣借法$ V& S0 u- T6 l- Q; _. }0 Q! U2 ]
同埋個市場既前境要係好先得
5 P5 M3 @2 V0 K( ~7 {/ P" N但當經濟一差,公司估值趺了,物價不升反趺& q" D  H" k1 T7 D4 P9 w
例如剛才說10蚊的, 趺到得番9蚊,
$ t: }# q: y. s5 L% S! w' v咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
" n" V5 ^& a' w* N/ S& A3 ~' Q; l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,
# n! R- f1 @% r/ R+ n  m8 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,
& r# c3 T4 L9 a0 `8 J淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
; p4 Y# c% z0 g; S8 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8 p% a: Y/ H# t  W
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
4 p" j9 D- J* r  G/ I$ {唔係d錢蒸發, 而係比美國佬洗晒未來錢,
! M: [( v* ]1 J3 [# R, d淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( o8 h; K" L( x9 _$ x0 \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+ s/ t, X* Y1 ~- A+ Y1 Y7 Z5 C1 e
咁你話d錢蒸發左去邊? ...

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正係咁樣
4 ^' g$ \# [$ K2 I- e9 X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; P) L, [6 d% i, g7 S! X
分分鐘佢地唔使還錢. w0 J* ]& q/ s2 r) b
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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 D& Z) o; j  w- r  r% X# H
連國家都係問人借, 不停發債券, 印鈔票5 d7 v+ s- Y: P: j! I! P. `
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產7 [, t* K! U( |" G/ u6 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$ p" B. h* ~: F/ i2 e/ G
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
7 G) n. E; j0 a0 P因為以前未生產, 先消費. L4 W; f$ w7 D+ D
而家就要多生產, 少消費