0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
( s# z! N. \0 T% p) cWhy bank will sell 借據給第三者???  |3 ~# c1 B5 `: p1 \5 z
I was so confused.....

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講到尾都係賺錢
; i. C- e+ Q5 r* P7 u4 `& pso銀行可以不斷放款
: ~# l) M$ d" `/ `美國的房貸問題散佈到全世界% _/ a- T* `' }# O8 j) l8 E. r2 x
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mortgage loan
3 e4 \5 H* W" F2 E8 s>conduit
9 R8 x6 ~( L; L3 n- f>RMBS(Residential Mortgage Backed Securities)7 Y: V) ~/ ]2 H
>arranger( Y, |, z; L. g9 I
>CDO(Collateralized Debt Obligation)
! W/ j9 ^6 ^* r. |+ E2 t最後去到投資者

Kev

i thought it is the reason of rate of return.3 V; o" W$ n! u4 ^
CDs could have different ratings, AAA -> F,
# R. n2 i- s7 Imore risky ones would have higher premium (interest rate) as a compensation for an investment.
: M) S" W. u- h! pmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,( d) b& a8 J+ I2 k8 W9 m/ b* E4 u# T
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities." }8 F$ _0 `/ N1 p6 e$ i5 S8 l
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency./ {! m2 b0 i# U0 D* T2 n
similar to bonds, CDs trading in the secondary market have different value at different times,
/ D; ?' v7 a' B- f8 e& l5 Dnormally the value is calculated by adding it's principle and interest.
" E; g* C3 I' U8 Geg. the value of the mortgage+the interests to be recieved in the future.
% t( R3 }$ d$ y/ d" p" tbanks 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.1 X) t7 j  J" L$ t* m( v1 [; W

9 S7 }, b, Z/ a: Rim not quite sure if the multiplier effect does really matter in this case.# i& \% g0 H/ [' P8 E' f+ |
in stock market, it's the demand and supply pushing the price up/downwards.; G0 [4 x  z7 c% h
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,; p8 K) q! C+ M6 x$ I) e
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.7 f+ C/ i. T" C; r3 @0 m
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. 3 t! {- F6 `- z* |- W
but the value of their assets did really drop significantly.) B' [; n, }8 g$ K  q
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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) @# P4 f; `1 y0 }' \8 R* D$ K. j
Refer to last example,: y$ ]- L1 v. [0 b1 Q' W
that means bank A have no money because we borrow 10 dollars from bank A 5 d" F  I2 p" `3 x0 A+ K4 Q* J
Because bank A doesnt have enough cash on hand & B* h6 U( D; Y+ O; p" ]0 D5 X
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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7 O2 p& m/ [; r# IA->B->C->D->E. O' Y9 c6 ~' H- F8 t/ c  v
so does it mean if E failed to pay D,
& E& n; e5 X( sall the B,C,D,E have to go bankrupt?9 x- c! l6 {( m& R5 c% u- ]+ _

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' M8 V6 ^$ P& Q- v' ^/ b2 Bthe multiplier just tell how much money created in a whole economy,
) G) q9 l0 Y6 Q7 F5 u; ^2 ^" kin this case it doesnt really matter how much money is created,
5 S0 b5 F6 B) A+ m. uit's the problem of the debt itself.
+ Y9 m' ~( \: K/ hthe 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.gif3 O8 V7 l7 Y* ?/ U. F$ v) f5 u
小弟一直都唔明...; ~8 D& R6 ^% Y& I; @
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全世界都蝕錢，咁邊個賺緊錢呢?! v( S4 V1 R7 ^7 m1 A) `) R' d9 e
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無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答% O/ q! T2 o: l3 Z% X
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Thanks

) X0 j7 a$ I' c7 B  x. y8 I% p那些根本係 紙上財富  
; K8 G# }2 N1 l: V. Y0 C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. m4 ?# I# l* u
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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; e$ p( s& F1 N$ P& U
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高/ q" K0 o5 j3 i! ~' X9 j
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: m* p% H8 ]+ e  [; X- u, r
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦) 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,
% j: [/ I" e+ i- q計番回報率就已經係50%,所以可以好好賺# E/ W3 S+ A4 J, j; t& w8 w
前提係銀行之間要互相信任先可以咁樣借法
3 I' v2 h) W1 [- L/ T2 Y7 t$ y同埋個市場既前境要係好先得
. u7 j- e! d  n7 q但當經濟一差,公司估值趺了,物價不升反趺
* x6 [, u3 D. P5 T7 w5 _! Q4 K例如剛才說10蚊的, 趺到得番9蚊,
7 H5 s& x: }5 X, M. B% `咁投資銀行一下子就要還11蚊, 一來一回變左虧200%9 X$ J6 [6 y4 S
所以你就會覺得D錢好似蒸發哂咁
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2 [$ k% G4 J* U* S/ c6 T1 C你都可以當標野咁諗, 個樣野多人可以狂升值,
, d; J8 B$ I" W/ _7 f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, 0 h% Y  L8 F0 O/ U, k
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / \2 O; Q8 S5 [# }: i/ ~
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 G2 Z& c( \" C) t
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
; Z* T. E; @) e4 b/ A  b唔係d錢蒸發, 而係比美國佬洗晒未來錢, ( J% L/ ]2 |7 @" E2 h; Q: {% ~: \
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
' U7 T7 [7 l: C6 x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
+ _' I. _+ C0 \) I咁你話d錢蒸發左去邊? ...

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正係咁樣; x% W4 E7 ^! N! X8 W
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  T* K3 s; N, b" l
分分鐘佢地唔使還錢
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( d5 |  l2 T. _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,
5 h- X2 t; k+ |# P) v) g  R0 }連國家都係問人借, 不停發債券, 印鈔票, U  m7 ^* J" g9 {
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產. F0 _1 d' l7 p& S
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
5 F8 t5 f9 n. V  d2 Z3 L1 r: p咁而家"爆哂煲"算唔算先至係變番"正常"???

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9 G/ [/ Q, \& v3 H* t+ P7 c其實係...
9 l+ D. O# z: a; L  f: v, i因為以前未生產, 先消費
0 r( H7 M. L0 X6 u! J而家就要多生產, 少消費