0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif4 J  f' O3 J7 z2 |
Why bank will sell 借據給第三者???
9 ?) E$ Y) V8 s. e/ M* V6 O# \9 ?I was so confused.....

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1 R( C* H, y$ l3 q# m% H講到尾都係賺錢& f' N2 l! g( Z& E
so銀行可以不斷放款' A9 P5 R1 b+ y* Z- {
美國的房貸問題散佈到全世界
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mortgage loan
5 F6 i0 _1 R; }4 E>conduit
4 D2 b' f" S9 m+ H8 M9 H) _, w( r>RMBS(Residential Mortgage Backed Securities)" ?) X! f$ b0 B4 x. |
>arranger
: M" r+ D" _/ ]0 o>CDO(Collateralized Debt Obligation)
9 s1 u4 p  }) _" w最後去到投資者

Kev

i thought it is the reason of rate of return.7 N, y; Y0 {$ Z8 A% U. U% @
CDs could have different ratings, AAA -> F,( G+ I5 A1 I& N- p$ P0 V1 Y$ c
more risky ones would have higher premium (interest rate) as a compensation for an investment.1 e% U- w! |  q! u! u9 M# a7 v, k
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
) l# D( \  K8 {% ~4 Nin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
) \2 Q1 _- Y& N5 f3 oAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
, e, B5 S- ^8 t9 {( Msimilar to bonds, CDs trading in the secondary market have different value at different times,
) Z% v9 o7 q* e" Pnormally the value is calculated by adding it's principle and interest.
) N: _* W* q0 A8 y5 Teg. the value of the mortgage+the interests to be recieved in the future.
$ v4 A0 A$ i, B) Z( K* Ebanks 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.( ^8 Q# U- \' ?1 _- f

3 B- g, E( G( z7 d; P# Nim not quite sure if the multiplier effect does really matter in this case.
4 z: D$ S1 J" \4 Ein stock market, it's the demand and supply pushing the price up/downwards.
# A4 A7 z* _4 ?6 _9 M/ m& C' i( fFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,; u/ j# A4 s3 L/ R
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.9 g* n; [/ _; x! h* |2 W& n
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 i: e9 S. Y# b* w5 c# _
but the value of their assets did really drop significantly." x, x! v) u. s  T
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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 b% G+ X$ J  q: f& D0 {
Refer to last example,
( H' G& B0 m- T- F1 s) D) kthat means bank A have no money because we borrow 10 dollars from bank A ; |! T' h" R" T: j. e. w  U
Because bank A doesnt have enough cash on hand
% R; D7 ?* S' n  Ytherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
+ H2 p- P$ t. ]5 b& P3 h$ K- E. Qso does it mean if E failed to pay D, 5 F8 x0 k5 i# v  C
all the B,C,D,E have to go bankrupt?9 X! z/ D! O# D/ s8 x3 a" n

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the multiplier just tell how much money created in a whole economy, 8 F$ L$ V% ?, N- x, J& o: S4 @
in this case it doesnt really matter how much money is created,
" P5 V2 ?# {7 }) p; @3 c! mit's the problem of the debt itself.
% q' @+ a% h# H: ^9 Wthe 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
4 m9 R+ J/ k6 i小弟一直都唔明...9 i, t6 \$ f+ I' b  f* [
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全世界都蝕錢，咁邊個賺緊錢呢?
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' r; H3 y7 s5 J6 B無可能淨係有人蝕錢無人賺架嘛...
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$ g* i. l& s9 i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  0 B! x( o( T) v$ x2 u
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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; u' j. K6 \% W  v, g8 `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
2 E$ k) c' s  ]! G: W當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
5 N6 r( B9 ~0 h9 @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
% p6 C* z  m- a* _5 S個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
2 I6 t! t/ y6 Y扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,4 ~3 D, k5 z6 d
計番回報率就已經係50%,所以可以好好賺% o3 z1 v; _) q8 f  r& n
前提係銀行之間要互相信任先可以咁樣借法  p+ r5 Y# y8 [& s& Z
同埋個市場既前境要係好先得
7 D5 X/ ~3 o% E- h$ U) b但當經濟一差,公司估值趺了,物價不升反趺$ w! H0 U6 Z& f+ m
例如剛才說10蚊的, 趺到得番9蚊, - h: h- [+ N( q+ G7 M) N
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
; G8 x/ H& G( l* Z( i所以你就會覺得D錢好似蒸發哂咁1 @: l+ X2 p6 O6 j3 C( g
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你都可以當標野咁諗, 個樣野多人可以狂升值,
7 m/ P& q- K% E9 m+ h3 P; O5 q8 x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, 2 O: R4 d8 ~+ N7 j; J: v- r# _
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' c' }& N) [" T$ Z5 {. 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) Z6 R! r6 f' n. ^3 b! C
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.gif7 H2 g; d2 e9 g1 `; p6 t
唔係d錢蒸發, 而係比美國佬洗晒未來錢, & I/ i" Y. Q: {* u, `4 R6 K+ n
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" H( q. c9 d7 ~+ q( p( ~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 X! p9 ]" O4 G/ x% D
咁你話d錢蒸發左去邊? ...

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正係咁樣5 z5 b8 _0 t8 p* j, E
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
" Y6 I+ B0 ?& O  P9 m! M# L! r分分鐘佢地唔使還錢! Z! ^! K2 |% I* E6 ?7 U3 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,
  S! [3 @  N- D1 f* a連國家都係問人借, 不停發債券, 印鈔票
, f7 ~  l' y) P) p1 K一個國家好少出口, 而又大量入口 ,反映到佢唔多生產4 x- U- y* b* m2 Q9 f% B% \: H7 C
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
; s- i0 w1 ?$ u/ i, [咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...1 K+ Q& T$ w* `, M% }
因為以前未生產, 先消費8 ~; Q, P+ E/ U
而家就要多生產, 少消費