0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif- v* [; g9 `+ b1 U! I2 T8 q
Why bank will sell 借據給第三者???; i8 q6 f: P  G8 }2 L: n1 i3 p
I was so confused.....

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講到尾都係賺錢4 `7 b6 ^% x2 R9 v: }9 R
so銀行可以不斷放款: B2 N' J& K3 a1 H- u1 @; |, a
美國的房貸問題散佈到全世界
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& u' G7 i5 x/ e' n/ N9 N$ k1 |mortgage loan
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>RMBS(Residential Mortgage Backed Securities)
3 }9 T9 h3 g8 k0 d>arranger
8 X1 [& B$ j  H/ S>CDO(Collateralized Debt Obligation)
) `7 K; ?4 k. J最後去到投資者

Kev

i thought it is the reason of rate of return.
$ {* {: q; j# k4 pCDs could have different ratings, AAA -> F,
* v' w' Z# \) dmore risky ones would have higher premium (interest rate) as a compensation for an investment.
% Q  V  l; n3 [+ g2 s9 h" s/ _main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 F3 C. ?+ O% c( A/ W3 E7 n/ h4 S+ i" Fin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
- u& U0 {2 y8 Q$ t2 zAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
! r6 a  ]  V; Q( i2 Z2 E0 S6 Osimilar to bonds, CDs trading in the secondary market have different value at different times,
1 t8 g) x3 y, M* K. H2 [normally the value is calculated by adding it's principle and interest. 8 I6 D4 a8 ~' W1 S1 ~
eg. the value of the mortgage+the interests to be recieved in the future. . S2 F/ H6 `* ?. N# v* h* T
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.
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im not quite sure if the multiplier effect does really matter in this case.
3 o5 a3 a2 j" {' K, zin stock market, it's the demand and supply pushing the price up/downwards.% v5 b; H; S5 \  {9 U
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" A7 e2 y. V9 ~$ Q. CA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
/ C+ J, Z% j& Y" U% E1 ?/ K8 c% c3 GThe 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. " `1 v- \3 n6 J% c. d
but the value of their assets did really drop significantly.
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" `7 f5 l: p8 W. ]& a+ }) e[ 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
3 f; K$ L  |7 t3 eRefer to last example,
' {1 M  N4 Z$ O8 Ythat means bank A have no money because we borrow 10 dollars from bank A / f, [( p9 `" P( W" c6 }/ g' Q
Because bank A doesnt have enough cash on hand
1 Q# \) O4 r6 @* {. _- Dtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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  S. Y: K5 k/ Y, F$ y, V( k" FA->B->C->D->E5 }  r: }# {2 p! i2 d
so does it mean if E failed to pay D,
/ i3 b1 F2 T  w9 G' {* e9 A+ Nall the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy,   T; U# h9 p; u( q( r3 m7 \; g
in this case it doesnt really matter how much money is created, + }* P. [0 m3 y) }# W$ ~9 Z, [  Q
it's the problem of the debt itself.
5 ?' F" W* F0 n! ^7 Xthe 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
2 G9 j6 y+ e7 R  j小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?; X1 B" N' g/ Z& }- y
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無可能淨係有人蝕錢無人賺架嘛...
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/ O8 r" ~! b3 c' T' b' z) \8 L敬請各師兄解答' Y" C7 s: h% H0 ^# N

& [; c. e. I" m( S* dThanks

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那些根本係 紙上財富  ! h- l' T+ @. U: B9 C5 V6 |
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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% a+ m/ d( }4 u: chttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產. Z% h  P/ o2 g0 W& {# X/ m' C; X
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高2 j7 K" M& D3 ~0 E1 a  V% {
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  g$ R% M! w3 D9 j
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦# B+ I, p( Z" z; W& s3 f
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
: u' R9 }+ @9 q3 V: k' u& ~1 M計番回報率就已經係50%,所以可以好好賺* z- u2 n7 H3 w! c
前提係銀行之間要互相信任先可以咁樣借法
& j) w( T6 j9 C' S同埋個市場既前境要係好先得
3 K# c- ^) a0 P% V但當經濟一差,公司估值趺了,物價不升反趺
# f1 L' S1 t% W9 J; a2 @2 a例如剛才說10蚊的, 趺到得番9蚊,
1 Y# `% b. E7 q% v$ e- x  ]咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
& n3 s" O3 K) V/ ^7 f所以你就會覺得D錢好似蒸發哂咁) o0 D, f" r: @7 w  }# E* @/ L) @/ U

( K0 ~( w  i0 w9 ^5 l你都可以當標野咁諗, 個樣野多人可以狂升值,
. T) ]% M( g. X. Y' A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, 6 P: ?3 r( ]  m$ o) K  ]& T" Z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 |3 A) b* q) L0 ~% J
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 n" a% U! l- u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; k1 E& w% {% x
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
9 t5 B) j5 k8 N/ ~! }淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
8 y# j- \2 z* ^, q1 t8 O9 i' u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/ M! C: Q4 m2 `- A
咁你話d錢蒸發左去邊? ...

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' Q1 k- e) O( V& I+ ?正係咁樣4 {- E/ W# p: o! c6 J4 h  G
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! V& c% R" Q2 t  d% t8 [$ d
分分鐘佢地唔使還錢6 p9 v% E# s9 }9 E  Z

2 c% f: u; @0 J1 O5 m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,
6 Z( v0 d) V. X6 [% q連國家都係問人借, 不停發債券, 印鈔票7 j. R* Z" L1 `1 R% C  @
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產/ a7 Z* u2 K/ P* I# t. l# N; ?0 J5 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
; S/ J- ]) S% d* a咁而家"爆哂煲"算唔算先至係變番"正常"???

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' r! a% q, ^  {- x& a其實係...
4 |+ W3 p- G. ^& T因為以前未生產, 先消費
0 P9 o# e$ Y) Q0 Y* O$ e% F- N而家就要多生產, 少消費