0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif( H1 B1 x" D/ N2 d$ J& d* h
Why bank will sell 借據給第三者???
0 A6 t  N; `$ ?# Q) y5 NI was so confused.....

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6 k) q& `& ?4 \6 n/ o$ U講到尾都係賺錢2 T* K( K) W4 U) F5 o- c
so銀行可以不斷放款
% p, e& m3 g2 ^8 m美國的房貸問題散佈到全世界$ K- ], H" Y1 t$ a( b' O
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mortgage loan ! W6 E8 @) a% O
>conduit
' A# l4 X9 f$ m& z>RMBS(Residential Mortgage Backed Securities)* V0 t4 D8 W3 m! N$ Q' R3 h- R
>arranger
0 _  R4 g+ Y; D1 U: v>CDO(Collateralized Debt Obligation). P  Z* r0 x0 [8 w$ W3 @
最後去到投資者

Kev

i thought it is the reason of rate of return.
# t9 c) v4 w$ DCDs could have different ratings, AAA -> F,
/ Z( z9 p! o$ B7 O% d) ?more risky ones would have higher premium (interest rate) as a compensation for an investment.0 v& S' }; ?8 m" [5 K' H- z
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,) Z1 ]2 Q* ^* _1 N
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
9 e6 t9 \+ n& ^& h: EAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
$ `5 A5 P; q. Y. K% s( {/ esimilar to bonds, CDs trading in the secondary market have different value at different times,
. Y% A) E% [' E/ Q; `: S$ Tnormally the value is calculated by adding it's principle and interest.
' M& l& ?. j" q6 b) |. reg. the value of the mortgage+the interests to be recieved in the future. : M, N1 I# h& `2 w
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.
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im not quite sure if the multiplier effect does really matter in this case.
7 I) Y2 P7 q# i) k* L, ]# }/ Nin stock market, it's the demand and supply pushing the price up/downwards.8 d  X1 l: F# v1 [( v" u0 {0 S
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
& i9 p/ i% K* LA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
9 Y6 m4 |6 u) F$ L: 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.
' d8 F- S6 c4 P; q* P$ ^9 R3 Ybut the value of their assets did really drop significantly.& c% Y& L" v& x5 `: F9 W' S

( H% ~& ?, U' _. |2 U1 {6 g[ 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
0 l, Y$ t& B; |1 HRefer to last example,  D) s& H0 Q) {) x/ ^8 M( n" R
that means bank A have no money because we borrow 10 dollars from bank A 6 Q1 O; Z  ^* L4 p7 K
Because bank A doesnt have enough cash on hand 7 k1 q, p% J/ B$ h! r4 n2 q7 t9 f( `
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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9 B: Q! G% [7 MA->B->C->D->E; f% Y4 }' d+ ?) H$ v0 u
so does it mean if E failed to pay D, 3 u1 m, Z' Q* k5 E
all the B,C,D,E have to go bankrupt?+ c5 c3 h4 V( a9 L8 \/ e% a
, ^% C) w0 ?# x7 j! w; w

+ R* ?) j" R, ^the multiplier just tell how much money created in a whole economy,
8 n  j5 O1 d9 t$ oin this case it doesnt really matter how much money is created, 8 i, X9 h/ O- a2 m
it's the problem of the debt itself./ n2 ]8 j: f3 z
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
  |* @/ w& |- Y* ?' E# m: Y% r0 X/ F小弟一直都唔明...
$ E; d5 G) I- H1 q- j+ `0 A$ n* N. [8 z
全世界都蝕錢，咁邊個賺緊錢呢?  j, x% b; \5 L5 K8 ?

! j2 R3 d: n( \% Z0 Z9 Z5 K無可能淨係有人蝕錢無人賺架嘛...
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  `, z% C! H8 U敬請各師兄解答# P1 p8 V9 S/ N# c

. Y; u# j* I( o1 s* a  l6 s8 eThanks

1 z$ J- B) q" m那些根本係 紙上財富  
1 ]  q% x* c, g: U& ^. D5 \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+ G+ ?  e/ S& H
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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. K. U+ i5 _; q% O! {8 C, @
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高4 t" h  ~0 _; ]. 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2 Y2 B2 S7 Z0 F- c  o! D
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
' n- Q% i! }, n" `2 l5 L  V6 b* p扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
) ?# A+ v2 |! O: \7 U計番回報率就已經係50%,所以可以好好賺
& f- {; H( I/ x" w( x! D2 w7 r) c4 E前提係銀行之間要互相信任先可以咁樣借法5 c* _+ G/ y# }# U% {/ A4 X. z3 X
同埋個市場既前境要係好先得
9 ?8 ]! [& n2 W- O  `  F但當經濟一差,公司估值趺了,物價不升反趺
+ K# N6 Z+ g! I) o2 o% A2 D9 V例如剛才說10蚊的, 趺到得番9蚊,
; ?+ d* a& W! q. u/ A  Z2 ?, T咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
. T+ t* O$ v, y% k2 p  R4 K2 M所以你就會覺得D錢好似蒸發哂咁4 X. ]+ W+ E# u" _: y9 ^- F

! M" z, ]5 K# r4 _9 u你都可以當標野咁諗, 個樣野多人可以狂升值, ' t% z9 d' d( Q8 w! y; B% 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,
7 b9 q4 D1 Q5 P: I淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 ~  z$ s0 s. W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 p7 |' l6 ^: X4 h5 i
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# t5 i+ B. i* K. j) v
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
  B1 \/ b1 R4 h淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  e! c, v& j$ \' C4 m) G1 M( T3 D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
& a" D; s" d% V' R! [; c/ o$ G; ?咁你話d錢蒸發左去邊? ...

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4 n' f- |' n6 M0 {! A" y1 S' z正係咁樣7 P3 U, a5 H1 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
( A* Z- f) ~: v8 z9 P7 d" a: ]分分鐘佢地唔使還錢  p( h. Q( o  R, G/ C( E, c
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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,7 b& ^8 O0 @, Y# [3 d' b' d
連國家都係問人借, 不停發債券, 印鈔票" F& L. Y' \0 g! m6 {+ M; q7 m
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
3 [7 w, u# T8 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
+ `+ U) n9 q1 I& |6 Q- Z  k4 }咁而家"爆哂煲"算唔算先至係變番"正常"???

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) F% o! S! _) A. I; Y4 X) |其實係...6 I6 @. K8 w% m4 N! {8 }1 n0 m
因為以前未生產, 先消費
9 n6 b" h/ ^8 U/ |+ R7 R7 @6 `1 ?8 M而家就要多生產, 少消費