0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif' k/ k- G  [. i
Why bank will sell 借據給第三者???
/ C( t$ _* ?1 h3 D( f& G3 QI was so confused.....

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講到尾都係賺錢
& |! h1 J  @4 y0 V: p, ~5 O  _so銀行可以不斷放款
6 u) r- L  |2 t! V美國的房貸問題散佈到全世界
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: `( k9 T# F. u& F  tmortgage loan
. h4 t# y" k5 V* S3 u! q! W>conduit: R6 H( `5 m- ^8 l
>RMBS(Residential Mortgage Backed Securities)+ n# J+ T( @3 ^& q' x
>arranger
/ J9 @8 K9 k% ^0 h* j8 B" E>CDO(Collateralized Debt Obligation)
# k, T" f. C4 u* U4 Y最後去到投資者

Kev

i thought it is the reason of rate of return.6 J4 E- g; \) r2 B8 B
CDs could have different ratings, AAA -> F,
! q) k0 ~8 h# m5 lmore risky ones would have higher premium (interest rate) as a compensation for an investment.
  q8 }/ X% b' k; H+ v2 ?6 ~. tmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
' x. A3 E- Y- ~) `; l2 p( ]7 @7 Tin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.  R! O% |9 z1 P& Q! Y7 Y' _+ S
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.) ]* M9 B, @& J) `
similar to bonds, CDs trading in the secondary market have different value at different times,& D# y* x2 N: P" A+ G! `, p; S
normally the value is calculated by adding it's principle and interest. . V$ r/ }1 T' Z
eg. the value of the mortgage+the interests to be recieved in the future. . [3 U! V' r1 ]5 o. c: [
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." c" U7 J3 B1 t8 K! j+ o$ A( ?

7 r1 ]9 {4 u9 G( g0 aim not quite sure if the multiplier effect does really matter in this case.( \4 U1 U! o; t+ m7 g  O) M
in stock market, it's the demand and supply pushing the price up/downwards.
2 N' d4 I7 n/ E8 w7 RFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
: J8 ?$ r1 u2 f! ?" o% mA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
; J& i. e( R! O' N; d. k# JThe 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. / x$ d: Q4 O! B( [$ b
but the value of their assets did really drop significantly.& j" r# q( {+ j: ^
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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" r& E$ a; X2 ^( F5 e! R
Refer to last example,
3 Q4 ~& r- b; R# d7 w6 Z7 P# vthat means bank A have no money because we borrow 10 dollars from bank A ! e# X9 E( z1 l7 \8 U" a
Because bank A doesnt have enough cash on hand : |8 D8 E! F: Z. |9 L/ d) p! q/ t
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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; m* O) x( e9 g# ?A->B->C->D->E
& ^7 ?  l2 A/ P% ~+ [; d1 ?so does it mean if E failed to pay D,
5 h2 @9 r6 ?% F8 B, x$ Y2 D8 {  rall 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,
1 k- ?; m. r  Cin this case it doesnt really matter how much money is created,
' o, K6 ~6 L. `' Z$ ~it's the problem of the debt itself.% J% o4 z* \1 j, M# ]' o3 K
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.gif
) X  h6 a7 u" I小弟一直都唔明...8 x$ O0 ~; ]7 d0 }, \5 Y
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全世界都蝕錢，咁邊個賺緊錢呢?% P9 Y, G  ]; T; i: w
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無可能淨係有人蝕錢無人賺架嘛...
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0 \, _7 p8 `1 r7 ?1 K' i; ~- y8 z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  
9 Z$ a7 C2 u* D, R( e9 s. z8 T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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( L' V9 x; a! `8 i) lhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
/ E% O, G& [2 T& c9 h5 o6 b當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
2 ]4 g( t& I- q  r' [. o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' G3 q1 u- q$ x" H, B# L% A
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
& Y$ @& i1 F# I/ G8 y$ r/ Q扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
/ X  W3 h7 y' }1 g8 V7 J% n- F計番回報率就已經係50%,所以可以好好賺
; ?! [7 u3 f7 M: M+ o前提係銀行之間要互相信任先可以咁樣借法
% V5 b' l- d3 p5 W8 ^. c! i3 @同埋個市場既前境要係好先得
; q9 e( i2 _) o但當經濟一差,公司估值趺了,物價不升反趺+ E8 F7 \0 {( m
例如剛才說10蚊的, 趺到得番9蚊,
# t1 ^' ?+ @6 F咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
7 h% O/ C8 t1 Q所以你就會覺得D錢好似蒸發哂咁, t8 k# I, Z) O" ^4 O+ U. E9 V

* K" r( r0 ~. A你都可以當標野咁諗, 個樣野多人可以狂升值, 6 W# u. m, G+ c
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, & l, w0 l' Z' o3 C8 P
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 {9 v. q: Y% H7 u1 Z9 o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
5 B2 H8 Q" u5 K! C. g# K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.gif1 K2 n& C- J# F
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
  U3 c: z9 r7 F3 V淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , p& F, P$ Q- ?5 }
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
( H+ q9 |) P& y. b" H咁你話d錢蒸發左去邊? ...

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0 w# z& Q5 y4 v: _- H) |  C# N4 x) E正係咁樣/ L, P; y( @6 j) 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
' v! X" V2 b9 _- y! q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,
1 ]" d, ?3 q& q- ~$ k; c連國家都係問人借, 不停發債券, 印鈔票
5 K- h7 p0 D( {/ z. C/ @/ u一個國家好少出口, 而又大量入口 ,反映到佢唔多生產) C: S- F9 m6 E; M& @0 y* a2 W4 ]
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
4 }6 ~8 x0 `4 l. ?9 s8 J: w咁而家"爆哂煲"算唔算先至係變番"正常"???

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5 R- U" C$ o5 @2 x" C其實係...
1 N* g% M2 m, ~, n& A; |, K因為以前未生產, 先消費
: {9 s: ~  _4 y+ U6 B而家就要多生產, 少消費