0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif) I3 m9 D; E( G6 R& }
Why bank will sell 借據給第三者???, F+ l9 M' h7 M
I was so confused.....

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講到尾都係賺錢# w3 ^; b  A# I- S. ^
so銀行可以不斷放款4 o& T; [/ c- J8 A. X+ R; X$ E9 y
美國的房貸問題散佈到全世界
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- i! O4 s  q1 jmortgage loan 2 C, c9 d* Z  c# u) l9 T4 O! ]
>conduit
) X0 A8 W2 f% l2 B9 Y- k( w>RMBS(Residential Mortgage Backed Securities), ]( Q7 E; u. r
>arranger
: H. `- P# r# R/ I! Y# _$ }>CDO(Collateralized Debt Obligation)
$ ^, x7 C) a- \, D6 S5 e最後去到投資者

Kev

i thought it is the reason of rate of return.
4 X- z* C& Z& [; E2 |CDs could have different ratings, AAA -> F,
! z6 W6 y8 O: bmore risky ones would have higher premium (interest rate) as a compensation for an investment.
0 u# e1 [  R1 j% e6 [; [main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,$ n8 I6 s, x( c9 `6 N4 n
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.' i+ A  a; ~+ U
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.' {4 _2 T: T$ P3 `7 {
similar to bonds, CDs trading in the secondary market have different value at different times,; X: c5 F  J# S" C, P1 w- c
normally the value is calculated by adding it's principle and interest. 1 q4 j7 ?# J; w% z. v5 k( T
eg. the value of the mortgage+the interests to be recieved in the future.
/ h5 U- g# k( t4 pbanks 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.( C4 _' @( J4 H4 i  w* U; c; a, e* ^
in stock market, it's the demand and supply pushing the price up/downwards.
+ ]+ s2 }# |, `+ QFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,% v# S- s6 o8 n7 l
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
/ ]' ~& h8 R' d+ TThe 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. : d: R+ g4 r% k8 `. B7 G
but the value of their assets did really drop significantly.- s5 ?, E/ j- h# e1 U" A' T
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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.gif4 Y: B' q& H2 i9 X' I, I
Refer to last example,7 j  t  S# u) a/ S; c/ J
that means bank A have no money because we borrow 10 dollars from bank A
5 o" b; c( V% [, K9 fBecause bank A doesnt have enough cash on hand 2 d( `* w" w7 x
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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0 ?2 }1 q# O! ^1 h( f- BA->B->C->D->E
) V! L6 H; M  `: H8 }so does it mean if E failed to pay D,
3 Z) c3 G7 Q3 v* fall the B,C,D,E have to go bankrupt?" P+ O7 h! c$ y  x; q
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, O: U' z3 X/ C7 D5 ~the multiplier just tell how much money created in a whole economy, 9 G$ T5 C. D2 f5 T
in this case it doesnt really matter how much money is created,
+ c& r! N5 i3 G8 L! s% fit's the problem of the debt itself.
# H3 v, k9 o: [$ o! c: o3 Kthe 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
* s+ i4 t1 |, H5 v" `& r小弟一直都唔明...7 C( g" M' D- D, b

: A8 ]7 M" O2 [) w% H- u; p: A全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...) I3 {8 b$ I) y& ~/ p
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敬請各師兄解答8 a* W6 w# G+ t' \) u5 V! y
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Thanks

  J( e. q4 S) R- Z( ^那些根本係 紙上財富  
+ z" A* b$ N: A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 graphic3 r" `" G& q/ I) J! [
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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. b6 M1 n. k/ d# u
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
( M' _' o7 m  T7 n* y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
8 U3 m; S/ G/ U3 W; E個件物價係市場好既時候升, 例如15%先算,變左12蚊啦0 m% I5 b) |  H6 ]/ K# z& `* T9 {
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,) E3 y+ l4 W( `
計番回報率就已經係50%,所以可以好好賺
* m7 W) i( |$ X% B' A& Z4 U6 N前提係銀行之間要互相信任先可以咁樣借法9 n& j/ p' M! _7 X$ A$ A1 B1 h
同埋個市場既前境要係好先得9 O* `0 E% Y' x- W7 C( t
但當經濟一差,公司估值趺了,物價不升反趺
- W1 g+ y4 J2 a例如剛才說10蚊的, 趺到得番9蚊, 0 O+ M# y( g( m; w. i" _/ i3 A$ }
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
" M+ h: M1 P8 O所以你就會覺得D錢好似蒸發哂咁: C% m! p2 J# q( M# a+ q
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你都可以當標野咁諗, 個樣野多人可以狂升值,
/ p6 r8 `7 U: S% p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,
# H4 D* E: {. X淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, " p1 ?" y# e$ k1 z2 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
; L4 R# `4 h3 v* `4 x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
/ }1 K1 I( |6 U1 Q0 b  e) s/ i! g唔係d錢蒸發, 而係比美國佬洗晒未來錢,
0 L# J" ^5 n) d; f5 q* h0 C淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 7 z* N% \* L; W/ r  ?1 T( @
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 `! |9 X2 `8 p$ T2 _9 t
咁你話d錢蒸發左去邊? ...

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! h+ C* z  e5 T- I# s3 s& a正係咁樣1 ]. N5 i  A3 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4 d! \) v0 W3 y+ W& s
分分鐘佢地唔使還錢) I  o0 V3 w! u! f  Z7 c

1 H, F* b8 c. s3 l. o" l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,+ M0 a0 c& [, X. h* G* H
連國家都係問人借, 不停發債券, 印鈔票# c1 n2 @( B% N4 e3 f% e
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
+ a: p2 o7 Q* }( r% _$ q9 d$ h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* Q4 _0 n2 R4 G3 [
咁而家"爆哂煲"算唔算先至係變番"正常"???

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3 Z& E3 R- F. `% z' R7 `9 M其實係...
% r1 Q- z8 K# Z$ a! y' l因為以前未生產, 先消費; h5 f/ e6 w: C8 h/ J
而家就要多生產, 少消費