0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
& O1 |+ {) j  l5 b1 J" T3 r' OWhy bank will sell 借據給第三者???. Z; S1 q8 K: c% o
I was so confused.....

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講到尾都係賺錢/ [2 J  n& \* B7 m
so銀行可以不斷放款! e- c7 K1 t! }5 R
美國的房貸問題散佈到全世界
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mortgage loan ! {( f- n4 F* U+ A& s! ?
>conduit% H$ ]/ `! N5 F, G) E: p
>RMBS(Residential Mortgage Backed Securities)( ?& k4 F! E( ~
>arranger
3 _2 j4 g0 o# s( w+ O0 |>CDO(Collateralized Debt Obligation)
& w+ u, {% q- u最後去到投資者

Kev

i thought it is the reason of rate of return.
" B: U! e, K, @7 A) w1 XCDs could have different ratings, AAA -> F,5 D5 Z3 H1 p* a- {$ j7 }1 Y
more risky ones would have higher premium (interest rate) as a compensation for an investment.3 \, a& S, e% ?! I5 V
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,2 f! W# L* b  [- o3 ]
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
0 B" y* A- p, J' ~/ f' v6 e! ^+ p! FAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.; [% W/ `7 Z( v" ~
similar to bonds, CDs trading in the secondary market have different value at different times,
6 M7 F3 e2 R: y$ ?! J3 Fnormally the value is calculated by adding it's principle and interest. 3 ^8 C: D+ h; `/ E. p- z3 X/ H$ P
eg. the value of the mortgage+the interests to be recieved in the future.
+ n4 l1 |, r$ q' V9 U! K) wbanks 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.. G3 G( u/ O2 t1 p3 E
in stock market, it's the demand and supply pushing the price up/downwards.
4 X+ ?* U% L! I: UFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
1 z% A+ H5 z8 _6 HA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
, y" o( G# F5 ~. ]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. 0 n( O) G+ q) H- ^) y3 A
but the value of their assets did really drop significantly.
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0 y0 B* ]. _2 J( E8 w* j; O[ 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/ F0 s: ^' j, _# q
Refer to last example,
& {2 d. }- T8 P/ L: ithat means bank A have no money because we borrow 10 dollars from bank A
# B* P/ T: W5 J% U0 u6 S5 y- o. nBecause bank A doesnt have enough cash on hand
/ X3 b5 D( a, Wtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E% A( m5 D5 ?7 o9 |" U1 }- G
so does it mean if E failed to pay D, . P5 @7 w. }+ i0 H# q! y: _
all the B,C,D,E have to go bankrupt?
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1 W/ ~) \8 e8 O3 uthe multiplier just tell how much money created in a whole economy,
* L* x6 o) g% D# Hin this case it doesnt really matter how much money is created,
% s2 X$ s5 q" h5 j- i+ Ait's the problem of the debt itself.
' I  C% \7 D3 m! i5 k, u3 \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.gif1 `' Q$ L- l) Q* l: ~
小弟一直都唔明...
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9 Q5 \' k" g5 H# ^全世界都蝕錢，咁邊個賺緊錢呢?
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8 w5 ?% J9 d" n! I& s8 W. }& L* F9 t2 ~無可能淨係有人蝕錢無人賺架嘛...
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) d' f  s  c; b; K* U敬請各師兄解答8 T. k. ?4 m/ ?( ]

; k2 g4 X% c; B: ]" t# A" \Thanks

/ w, m$ `+ G! V$ l$ ~' p9 o6 g那些根本係 紙上財富  ( c, B' |$ t$ R! g
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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. I7 J; T4 T' S) O% K0 nhttp://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 `0 U. H5 N1 h2 Y當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
) a. {/ x" M( s$ t" U* Y6 q- ]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' @, u( o$ ?8 x/ N
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
9 r- }5 u( _6 @扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,( @* I/ Z& n! F8 ?
計番回報率就已經係50%,所以可以好好賺
+ m9 ~% S8 ?; Y( L  c- |前提係銀行之間要互相信任先可以咁樣借法
. G4 |( a7 k% C4 |! B0 g3 z同埋個市場既前境要係好先得
4 |  S' S  |6 t3 e+ B) g4 W' L# Y但當經濟一差,公司估值趺了,物價不升反趺
6 @. @2 z6 ~: Y- b% l, ?8 k0 ]例如剛才說10蚊的, 趺到得番9蚊, 8 Y. k# K1 g! i( m( n
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%0 H: S, D! w1 F9 v9 R8 }1 S
所以你就會覺得D錢好似蒸發哂咁
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8 x* o" X+ G' Z% K$ U; j5 @你都可以當標野咁諗, 個樣野多人可以狂升值,
9 L" Z; G( N9 ^; t" N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# H% q) m9 R% M; i* }淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) W7 x* S2 m, ^/ T* M8 k. 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
/ S' ~1 o  ^! }+ i& Z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  F1 \7 D& n' H% i
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
" O) n9 D+ w# `- |5 X- b9 n) E淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
# m" x( D4 c5 w6 N$ S8 S" h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
. G. Y& S2 _( R9 W2 P咁你話d錢蒸發左去邊? ...

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7 m7 b% n0 _- g正係咁樣
% x; P6 j. p* w4 B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
$ O( o, S4 S8 Z; y7 N分分鐘佢地唔使還錢
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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,
' j' H3 s  O2 u" t" @% d8 D- V連國家都係問人借, 不停發債券, 印鈔票7 ]+ h: n  G! [2 ^0 s5 e) A) P& D
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
! L1 F5 d( ^: V6 E- i9 q9 p3 r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
' E  G4 V1 \# A7 V! V咁而家"爆哂煲"算唔算先至係變番"正常"???

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2 Q! g( l1 S& J0 U其實係...
: E+ \1 S8 D, x4 L/ z6 W因為以前未生產, 先消費8 {4 b0 B- d2 |$ u- M+ {
而家就要多生產, 少消費