0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif3 r. P( m- g8 Y1 d
Why bank will sell 借據給第三者???
5 W+ p8 Q  E! c6 OI was so confused.....

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' e! ~9 n5 d1 N/ Q! i) i講到尾都係賺錢, h+ O3 N3 u% _$ Q" t8 ]( G
so銀行可以不斷放款
0 q$ w; i) E" }5 N2 v& F美國的房貸問題散佈到全世界
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)
$ Z; D* S* o. C& }% J1 M8 i9 M>arranger
/ v% h$ n+ D" u4 z8 W4 T>CDO(Collateralized Debt Obligation)
: W# }1 X0 h6 i+ A& r最後去到投資者

Kev

i thought it is the reason of rate of return.
, Q+ Z6 x2 [1 J  v7 K" W, LCDs could have different ratings, AAA -> F,
1 w: r8 M- m# `3 Rmore risky ones would have higher premium (interest rate) as a compensation for an investment.
, P; ^+ ^1 V7 E6 e" w. s3 w; bmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
% I0 I8 e) a; I1 D! s7 Z9 r' [- Pin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.  s. N. l9 L: R! J
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
$ w0 `; O+ v0 usimilar to bonds, CDs trading in the secondary market have different value at different times,
' ?  `8 L, n+ Q! tnormally the value is calculated by adding it's principle and interest. 2 W9 S4 U0 F: F4 d8 w
eg. the value of the mortgage+the interests to be recieved in the future.
+ R8 _9 F; j& L& _" mbanks 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.5 b* j% K* b2 g0 B

& ]1 ~! x# L: C. ]. ^' @im not quite sure if the multiplier effect does really matter in this case.
! l2 ]4 A1 ]7 \; Q( ?& kin stock market, it's the demand and supply pushing the price up/downwards.
5 b- ?# u# k5 B' ^For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12," N  g; g9 s+ t* g( k/ }5 _5 ~
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
0 \! w8 j, ]2 P: h! @" i' 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 `3 s* T) u& L# P$ ebut the value of their assets did really drop significantly.: n5 |* p, a: e
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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
8 f; ]' w8 ~) k8 xRefer to last example,0 t) t4 ]& c5 @3 q
that means bank A have no money because we borrow 10 dollars from bank A - ?$ A, L7 N! v/ g1 T
Because bank A doesnt have enough cash on hand , v. }9 M& c; H, p
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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: m; E) E4 g6 I' z# MA->B->C->D->E# |" U2 L3 l2 F$ R4 Z6 Z
so does it mean if E failed to pay D, 9 `: r9 z7 |0 `$ [9 F" L0 ?
all 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, % I8 J" m2 K- W) _
in this case it doesnt really matter how much money is created, ( A3 Z4 ?6 A! J
it's the problem of the debt itself.- H1 C4 V7 d- Z/ |
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.gif0 c0 g2 w, u9 A7 o0 ]
小弟一直都唔明...; `; [( `' g8 Q- R

. g/ d3 E* i% d+ [全世界都蝕錢，咁邊個賺緊錢呢?
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0 n8 G# N) y, j5 S2 O無可能淨係有人蝕錢無人賺架嘛...
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. M$ D) A" m4 d8 s2 U% i" N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  7 O( O7 E, r) _( C( R' n/ Y
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 graphic6 j) U. k% Y* M+ D; J2 P7 h5 R
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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# R0 I5 }: Q8 X8 S3 m7 H  e
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
" q$ ^6 F8 r3 G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+ \, j+ }4 `$ [$ {! l
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
6 E6 [0 E6 {' U7 L, u/ V/ r扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
  D" B2 B; W9 S' g' ^計番回報率就已經係50%,所以可以好好賺
$ S  S6 Z+ G7 K前提係銀行之間要互相信任先可以咁樣借法- }- L1 n* c* O2 D& t. b! S* m
同埋個市場既前境要係好先得7 f! ]. D0 I2 |5 }
但當經濟一差,公司估值趺了,物價不升反趺
' B( w& a' l& H. O# Y; r& [8 F例如剛才說10蚊的, 趺到得番9蚊, 8 P3 `$ I+ }1 o
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
  k( O; l! k0 Z6 l% a3 V所以你就會覺得D錢好似蒸發哂咁
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7 r4 b0 |1 r6 ^* z: w你都可以當標野咁諗, 個樣野多人可以狂升值, + @9 [3 h& b2 q3 ~
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,
* u$ _* M! \4 \6 j$ _! q' H& E淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 1 p; H2 @; {, 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; d8 f! [) q* 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
$ z8 O+ Z) g0 z1 K! m唔係d錢蒸發, 而係比美國佬洗晒未來錢, 9 G% l  r& o" y5 t) J* U
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* K% V& G) y3 h! R, R/ _- Y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
- L3 j, m5 ~4 _4 [( e3 }; }1 F咁你話d錢蒸發左去邊? ...

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% S& H. a: M" |8 x4 d5 U, n! [1 f正係咁樣5 L4 `5 j& p) |5 X! g- a2 C/ _
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
- u+ ^: |& r) z8 ]分分鐘佢地唔使還錢
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  }6 v1 j3 o6 [7 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,
# r8 n5 L/ j' N$ a連國家都係問人借, 不停發債券, 印鈔票4 ^% j( ^2 d  F( w6 J# o
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
$ z# n* n3 i6 q6 L% g7 |( P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.gif2 F# b+ J' L* d# N  Z5 k
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
8 D  x$ P# O( g. R0 [) R2 Q5 k因為以前未生產, 先消費
  d! q1 `& o7 S( x. h7 N1 h* G5 ^而家就要多生產, 少消費