0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif  }/ R+ e5 O; G5 z3 D& t( t4 W
Why bank will sell 借據給第三者???( P3 t$ d/ x& Y$ L4 \* r7 E. i
I was so confused.....

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講到尾都係賺錢
, {( R" j( k. K3 C2 Mso銀行可以不斷放款/ f1 _, L- W1 m1 X, Z
美國的房貸問題散佈到全世界- r( a. ~7 H: n  X
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mortgage loan   p' x9 ?7 `6 l% l  @7 n
>conduit5 R5 C4 z' X( S% R% I
>RMBS(Residential Mortgage Backed Securities)
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$ _1 B0 ?+ X3 [4 p/ U6 I4 D: O>CDO(Collateralized Debt Obligation)8 o+ ?$ Q* `( ~" ^. G* J
最後去到投資者

Kev

i thought it is the reason of rate of return.  K- ]8 c# @8 ^7 s. l$ p4 \
CDs could have different ratings, AAA -> F,
- P" @3 l1 X3 w" ?9 Umore risky ones would have higher premium (interest rate) as a compensation for an investment./ G. e" Q' t3 v) Z% j
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
5 T4 B' k9 g8 z6 Y/ [, Y4 z/ Cin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
) Z! O4 Q/ w9 G2 N% i9 S  AAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.4 ~2 b% F1 z2 t8 {  [5 o
similar to bonds, CDs trading in the secondary market have different value at different times,
: X2 |+ h4 Q. X" {$ c2 w  Lnormally the value is calculated by adding it's principle and interest. ! b( f9 E4 C+ s1 e$ R' N2 ]8 v+ n% Z
eg. the value of the mortgage+the interests to be recieved in the future.
+ v4 u0 f$ u3 E, h; G" Cbanks 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.$ K! q4 s( E$ i' {; l# K, ^0 Q, a0 e

( m7 U; g3 N4 n* n" `9 \im not quite sure if the multiplier effect does really matter in this case.* v3 e8 F- M1 S( J
in stock market, it's the demand and supply pushing the price up/downwards.% W  ]. G! J1 t/ p2 ~
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
5 o- Y* K" T1 ]+ H4 ?A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.3 T6 W- p7 [8 j  v! \8 B2 J2 e
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.
6 g1 H$ H( T, j! ?3 tbut the value of their assets did really drop significantly./ F. z0 g4 e; ?& M# q8 m: t. y
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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
1 ~! V, P& N/ n' W8 G1 \Refer to last example,+ K0 d' V; q! B- l4 @5 k& Z
that means bank A have no money because we borrow 10 dollars from bank A
2 c7 \& @$ @4 N  q6 p) d  ~$ |Because bank A doesnt have enough cash on hand 1 t" m1 ]1 u2 f1 H# I2 S# `& V
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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% O* c' @! p; Q: `& `, |9 LA->B->C->D->E1 g4 a' R+ S' G5 `2 \$ V
so does it mean if E failed to pay D,
+ n6 H; @7 ^( t5 |" I9 Z6 gall the B,C,D,E have to go bankrupt?/ _4 V% _. K; C3 c8 N8 \4 }
& ?$ j$ Y" j* k  ]$ b+ z* d3 }

; j; F% t7 A! nthe multiplier just tell how much money created in a whole economy, : F- S3 w  k2 @) T6 P2 T# A* K
in this case it doesnt really matter how much money is created,
& |% W0 a; E0 N4 r. Z! j& pit's the problem of the debt itself.$ X6 ^- k6 P( {% B! d! c
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.gif2 W- F9 [& K! r6 t' u% A& d
小弟一直都唔明...; k. s5 R# n8 P) L
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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...; \( P. ]0 e7 A: D' f7 l
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敬請各師兄解答
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1 x, C: J  @  k4 z% F# A7 JThanks

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那些根本係 紙上財富  
9 V  }7 v4 G' c; d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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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
' n4 X$ A. w9 p2 W: h+ i+ R. F當經濟好,投資銀行相信會賺錢, 物價既估值相對較高/ I; f+ j% v. T9 u( p
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
9 ]5 x' x9 p- O+ q4 S; P個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
3 _6 S, |' ?6 K$ G: J扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
" Q- m8 A/ Z7 B5 N9 }. L; x* L. l計番回報率就已經係50%,所以可以好好賺
- F2 G/ w: Z1 O: ?" e, N, J前提係銀行之間要互相信任先可以咁樣借法  {$ y  P8 z9 w: Y' Y: C
同埋個市場既前境要係好先得
! g+ f% G; w4 Z4 z' G# Y但當經濟一差,公司估值趺了,物價不升反趺
5 y  S' R3 \9 V! P例如剛才說10蚊的, 趺到得番9蚊, 3 {. O+ _( U, Z3 ~# P/ Q5 l
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
9 s, |# u( g# U( F2 |所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值, 1 B$ r- R0 e- t  O# T! D6 {
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, $ y7 U& f# i% B1 X
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / @+ a' J. K$ \9 ^, D5 j" N/ M
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; |3 S0 \% }3 D
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
/ Q8 C! h) Y7 ~; L% `唔係d錢蒸發, 而係比美國佬洗晒未來錢, 6 f& X2 M+ h/ {, U3 s) [/ C" M
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 6 t0 H( c6 T$ `, ]9 Q9 l% H: y6 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
* @' y% ?( s7 e- D$ }; g咁你話d錢蒸發左去邊? ...

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正係咁樣; _; P- T4 q' E6 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% {" e7 E  g" f8 x; L
分分鐘佢地唔使還錢, `  E& t4 p# f! w# T6 @& |) w' P6 h* D& L

2 {4 k. d7 ]- {9 ?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,
) }8 e/ T5 |& @) X7 ?0 r2 S連國家都係問人借, 不停發債券, 印鈔票2 ~/ Y1 c! r& g7 R6 w
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產) x& r, w" {2 [+ f
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
) U5 o5 N3 P# Q0 N3 Q* F( q咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...6 x( L  a& U1 W
因為以前未生產, 先消費
- r; J: w" k8 ?6 i! w- g而家就要多生產, 少消費