0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif3 ?6 E  i5 ?* I
Why bank will sell 借據給第三者???" R: u- d" i* ?! Z" H
I was so confused.....

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' `2 ]6 \9 q$ b4 `% H1 W( d講到尾都係賺錢
: g& M6 ^; F0 qso銀行可以不斷放款5 d. u  v8 }6 |, C" s5 h/ w
美國的房貸問題散佈到全世界
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" E8 X! C; t( z9 d% g- Smortgage loan 5 V, X  r( X! p/ }1 F' n; g7 b, \
>conduit9 L5 ]5 @: B5 [. C1 f2 s' T' Z
>RMBS(Residential Mortgage Backed Securities)! V/ X3 N( ?. G% C, F( I
>arranger
4 v! G2 H. C' b/ ~! s! M' O4 b>CDO(Collateralized Debt Obligation)
, \: o# s( |% j/ C1 I* F最後去到投資者

Kev

i thought it is the reason of rate of return.
: J( L/ ^. n- k7 b- X- uCDs could have different ratings, AAA -> F,
" J. B  W7 c- F0 x. I- lmore risky ones would have higher premium (interest rate) as a compensation for an investment.: K8 L. `& ~# \/ v/ O
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,. y* v1 `6 I( P7 ^6 B9 t
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.$ m* e* z+ [! j! G6 F6 l
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
0 }' E: x! U3 M  K2 Y) dsimilar to bonds, CDs trading in the secondary market have different value at different times,
+ l! P3 b" B8 Lnormally the value is calculated by adding it's principle and interest. 9 M2 Z. d; |9 J0 M" \
eg. the value of the mortgage+the interests to be recieved in the future.
7 M5 l! }" q" ]- Q% H5 O) kbanks 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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+ x/ p1 h+ t$ R+ T0 E$ _  x' bim not quite sure if the multiplier effect does really matter in this case.
8 V& K: e' \+ oin stock market, it's the demand and supply pushing the price up/downwards.
5 d, R/ e7 |$ f, q  J( s; Y  fFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
6 K  h* y9 r( b& n- O: |A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
$ Y5 f+ G, d! w% C4 F; sThe 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.
; c9 P6 {/ O0 z9 Nbut the value of their assets did really drop significantly.* U! D5 v0 X  Q4 X$ Z
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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
% }# s3 H7 _1 @/ o" N, _Refer to last example,# J9 {! a' l' W, P
that means bank A have no money because we borrow 10 dollars from bank A
0 C, Z  P# V& i  ^2 {4 _# [- p* uBecause bank A doesnt have enough cash on hand : M+ x4 N% m* |8 H) b4 E
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
4 q9 E) Y8 ~! \" z. [2 B! Qso does it mean if E failed to pay D, ' m/ o" D! c( I
all the B,C,D,E have to go bankrupt?) E! C9 r: P; [! y  R% @

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$ s$ h+ {5 `/ T* Mthe multiplier just tell how much money created in a whole economy, & v4 s0 x: W8 @0 U9 _
in this case it doesnt really matter how much money is created,
; M7 c: `, U6 o- jit's the problem of the debt itself.
4 \7 e6 e& c5 G# ]! \) R1 b7 [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
- Z. a3 j7 ]( x/ N; t小弟一直都唔明...( g2 u9 I$ \4 W% ~  z% M# r" D: \

6 U# X# {" K0 t( F! b# w; @- u6 p全世界都蝕錢，咁邊個賺緊錢呢?. ?2 i# ]  @# B4 X5 w6 E! ], V* L

) }, o: R' \/ j3 h9 L無可能淨係有人蝕錢無人賺架嘛...* {0 U- j9 R7 C( w; D) T

  J$ G* R# x/ R' \, A5 r2 I敬請各師兄解答  B% V% I# Z! r' h5 Y4 B6 `1 f
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Thanks

' N+ j) r% W! C6 M那些根本係 紙上財富  # S$ |$ ]; [( I5 o) r& h
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" _) ?" M& m5 v8 O4 @2 A6 L, x

+ F4 [, \! H" Z8 }+ Vhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產3 S. }2 O6 |7 I1 k
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高8 z) V  b- \0 Q% ^$ u
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
. R$ n# o. \* a2 p個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
% M/ N* Y" F* t扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
, w# |% I6 o) C4 h$ \計番回報率就已經係50%,所以可以好好賺
- }. H& j) L1 ^6 o) _  x6 A: ~! Y前提係銀行之間要互相信任先可以咁樣借法6 P5 b+ E- ]3 e5 @
同埋個市場既前境要係好先得7 Q+ L# C* ~4 A) a
但當經濟一差,公司估值趺了,物價不升反趺% l4 q- k0 d8 r+ W8 V9 I/ g9 E8 G% W
例如剛才說10蚊的, 趺到得番9蚊,
; G2 j) c6 @  j% W( G2 v咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
' a" _. w2 ^# c2 q0 i' O所以你就會覺得D錢好似蒸發哂咁2 ?2 ]! G3 Q7 V: a. w0 y7 \1 P
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你都可以當標野咁諗, 個樣野多人可以狂升值,
1 U" @5 E. F& p+ m& Y; m( d5 ^9 p( 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,
# h3 z9 O3 w# U  `& [  \& R淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ! [% u1 A% K8 [  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
/ V: h! \! `* r, z! k2 ^. c7 J' |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( T7 Y4 i# {0 N7 L/ F' s唔係d錢蒸發, 而係比美國佬洗晒未來錢, , l- Y* n! C' ~5 {- H, X
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # J& f. c7 R6 [' V6 `
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% M1 o0 M) _7 r0 p4 V3 I3 A
咁你話d錢蒸發左去邊? ...

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/ T, x" f; D! t$ [. `) L2 c正係咁樣
6 d, w3 X; q% Z$ j8 M) e- J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
" w( C6 Q$ R8 ]1 V" i0 e分分鐘佢地唔使還錢6 U7 k) v" t  d7 d' w; g

+ d" y4 G+ E0 D0 R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,
4 J# U- R2 O6 R6 D連國家都係問人借, 不停發債券, 印鈔票% W) g  j# S$ {. |; I: G& o9 H
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產6 E" M- e$ N" @9 u& w- ^0 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
' C8 t8 n& t& N" q& \2 j  n$ y' U8 C咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...% c" G0 {0 ?/ J: q  l- E' w
因為以前未生產, 先消費/ ?( H. A" }3 x; Z1 z* `
而家就要多生產, 少消費