0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
5 w" i4 x/ ]* \% AWhy bank will sell 借據給第三者???
7 I# M1 z2 q+ v* i9 CI was so confused.....

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* S! S1 O/ i0 \- H" ~3 \& ]講到尾都係賺錢
4 _/ K# A4 q: }+ u$ U: s1 mso銀行可以不斷放款
+ [3 w3 t8 U+ o: h- Q% |美國的房貸問題散佈到全世界; n9 Y2 g( g( T) r

, [; E" T& F5 Cmortgage loan 0 u7 W0 W4 x" J6 g+ p: K; [
>conduit8 _/ N3 k- B+ ]6 [" p) x. k
>RMBS(Residential Mortgage Backed Securities)
$ Z. R  Z& n' e6 v, e>arranger
/ R6 A9 h; T( {4 M8 c" g>CDO(Collateralized Debt Obligation)
9 s% F; c! j( w最後去到投資者

Kev

i thought it is the reason of rate of return.
' Q1 }3 U0 c4 E+ {$ x7 r& _CDs could have different ratings, AAA -> F,
! A" i& x* f; U( }1 b+ o' smore risky ones would have higher premium (interest rate) as a compensation for an investment.+ }3 s* E5 p- n8 n# y8 c1 [
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
2 ^8 r1 S: J# E/ F% qin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
) Y% I1 e/ Y- q9 @Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.1 e4 ~+ ~; |# j) L% k
similar to bonds, CDs trading in the secondary market have different value at different times,
5 s. p$ A  y: F' L# G/ Tnormally the value is calculated by adding it's principle and interest. 8 z% M) k: ^, E$ g
eg. the value of the mortgage+the interests to be recieved in the future.
: ?4 e! }2 N7 w8 i+ q/ s8 cbanks 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.* a, o8 H  n# T# u3 K

; r# G- F2 f% D5 zim not quite sure if the multiplier effect does really matter in this case.& G; j/ h7 x4 k  T# m
in stock market, it's the demand and supply pushing the price up/downwards.) o* j0 K9 Y; f: T8 L
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,( x* O  [' M$ x9 z
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.3 ?" B6 P5 K8 q$ a' Z  ?" N. ^
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.
) u% S3 G: r& f. E1 gbut the value of their assets did really drop significantly.* ^, _" }, m6 f: F% \7 X1 y( ^% w
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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' g" c" X4 q  G
Refer to last example,
; p, C4 O8 X$ D* L& Hthat means bank A have no money because we borrow 10 dollars from bank A $ X6 H5 f# y1 V$ r  I# o
Because bank A doesnt have enough cash on hand ' Y6 A/ ?! |$ s5 r3 q- q; F
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
5 w8 g, E8 L8 ~3 [2 Xso does it mean if E failed to pay D,
+ B, h( y; Y4 b  s$ Q5 L/ {all the B,C,D,E have to go bankrupt?
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0 c5 j( e: A$ B$ S+ a/ ]1 cthe multiplier just tell how much money created in a whole economy,
+ g( Q& t+ X4 I: V  @- ?' yin this case it doesnt really matter how much money is created,
, Z$ \) S) V" P9 _4 D1 I; ^& |it's the problem of the debt itself.
6 M/ ?: p$ o: j) Vthe 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
4 T8 M  {" D& P( r1 Y' L+ ]小弟一直都唔明...
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* }* H+ K6 a8 Z7 T$ ?5 `- z  b全世界都蝕錢，咁邊個賺緊錢呢?
0 a. a& x# ]  x8 D0 p. I
- @+ ]. p* R3 W% N' f無可能淨係有人蝕錢無人賺架嘛...
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0 @! g  T' j( ?4 ?3 p敬請各師兄解答% b" A" Q" S5 q6 W+ q! {9 f

- R- j& [$ a, e; T3 D& ]7 uThanks

5 Y8 }5 G  R1 c2 o. |& J, P8 b* ^$ A那些根本係 紙上財富  - B8 M! y' V: o! ?
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 graphic9 M; _1 D  o% q8 k6 h

, m& z2 p, m$ i) V7 V+ C. phttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產$ @& ^, U8 X' d5 _! s5 P. H
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
- J- A  \1 {! [2 L# d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3 J6 j7 ^, S$ H' D0 M) V# T
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
! l5 O; ~6 M, r扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,2 b' w% w1 H, u7 S0 k9 F
計番回報率就已經係50%,所以可以好好賺
3 \9 i! l& D2 s  Q/ I% [前提係銀行之間要互相信任先可以咁樣借法" U7 a' R0 K- y3 ]
同埋個市場既前境要係好先得
+ U" t# f2 G' k6 E8 ~9 p5 }但當經濟一差,公司估值趺了,物價不升反趺) _" U; g- ]& p) ~: ]
例如剛才說10蚊的, 趺到得番9蚊,
5 @' U6 d) V& y0 c. u9 q9 i. d. n咁投資銀行一下子就要還11蚊, 一來一回變左虧200%+ x: h8 b* n: m. S. \* V
所以你就會覺得D錢好似蒸發哂咁$ C$ O& M" I% U) ?
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你都可以當標野咁諗, 個樣野多人可以狂升值,
* `/ J5 E% f, d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,
3 D$ [1 U# Y: C) o0 j$ J淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 b. P- C* o6 H- P6 ~- @% {/ F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1 Z% B7 ?% k, Q8 U! z. g9 L- Y
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, P4 T  k. V6 x/ p: e8 y
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ; U* K1 |" h7 P
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
/ W# j* |  y# c# {$ e3 F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 W( e3 W) n* j+ M# g3 s4 M6 X咁你話d錢蒸發左去邊? ...

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! S, S) D& _7 [8 U, e正係咁樣* K) `3 q# j, [" N) ]' D6 n8 j6 T- A
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* Y* E' x- v& U4 T. [/ S! ~3 C
分分鐘佢地唔使還錢
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) y$ J% v! v5 [. ?! d/ i; V$ A4 I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,  Q) ?% U  ~- Z* r
連國家都係問人借, 不停發債券, 印鈔票
) B( y  M: ]6 E5 [: J/ D; f" U: E6 u一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
4 r0 b- W  |* k9 ~) I: U. y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
' v6 m3 }) O  ^' G9 _, C" \咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...2 M- }- z7 C: T
因為以前未生產, 先消費  i6 x9 J* q: u$ S( `3 I9 a
而家就要多生產, 少消費