0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif8 ]. l/ n# T1 {2 S- s$ D0 m" Y& F
Why bank will sell 借據給第三者???
; p  _( `3 G+ @7 o/ q. }& t- MI was so confused.....

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, Z$ i$ G$ E; h- o講到尾都係賺錢
. |& G* F0 s" B* Jso銀行可以不斷放款
2 w: R3 |; C+ Y& ^美國的房貸問題散佈到全世界
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mortgage loan * O. K/ N; y9 {9 d5 ?! S
>conduit
. B8 t4 P0 `- `9 Y# i) r" E>RMBS(Residential Mortgage Backed Securities); |2 `4 x) P( t* {3 l# R
>arranger
2 U+ Z2 q) i! _  O>CDO(Collateralized Debt Obligation)9 N6 ~+ B- J1 x& }% \7 v
最後去到投資者

Kev

i thought it is the reason of rate of return.* }2 {* `& S% f- |& R
CDs could have different ratings, AAA -> F,5 ~: w* m7 M7 r# ^
more risky ones would have higher premium (interest rate) as a compensation for an investment.% T1 [( g" i0 B9 n
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
- J. x9 W( O. Z, p' ~9 g8 nin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
& r3 y: {8 u% dAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
4 J5 L+ s2 Y$ w3 ]# [3 |+ lsimilar to bonds, CDs trading in the secondary market have different value at different times,/ G* V% F/ h% M0 d& d1 [- w
normally the value is calculated by adding it's principle and interest. ) P" Z& \! ?9 b$ d5 B; D8 Y/ X
eg. the value of the mortgage+the interests to be recieved in the future.
! K3 `8 w% J( c  |2 ^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.9 ~5 h* X3 c, ~
in stock market, it's the demand and supply pushing the price up/downwards.
7 o/ D5 `( V) l3 W  ?+ A4 P) I% x  G/ bFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
; N0 ~3 T* C# O) IA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.7 g+ v6 V  {4 a  Q0 {
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.
% y. o4 h4 d; I9 sbut the value of their assets did really drop significantly.' h4 A. Z: s& R0 U' N0 W2 g

. T4 B. G8 u& F$ k6 B[ 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
8 `. a" z# V0 a6 HRefer to last example,( n5 d$ t' E' ^; w1 Q* S" F8 }9 t. E
that means bank A have no money because we borrow 10 dollars from bank A   v8 }7 h3 g8 {0 B! r. U
Because bank A doesnt have enough cash on hand
% R- s6 p4 b' g4 rtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
0 l- v9 X# o+ n! N3 ]" bso does it mean if E failed to pay D,
( A1 ?0 `* v) N6 y1 I3 ?# Jall the B,C,D,E have to go bankrupt?
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( l+ x; k3 i- v$ _, V7 w; W- Zthe multiplier just tell how much money created in a whole economy, 9 V, I1 X0 E; f+ v0 f' U; Z3 B
in this case it doesnt really matter how much money is created,
' g7 i) }9 H. `2 O( y- ]it's the problem of the debt itself.. K- \4 v, s5 S! ?7 J1 n
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( C$ I6 V/ g; ~3 q# _
小弟一直都唔明...% @0 }" ~: ?; O4 M: J# R
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全世界都蝕錢，咁邊個賺緊錢呢?; w# e; |5 }1 {
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無可能淨係有人蝕錢無人賺架嘛...4 L% p2 A9 d1 n) G
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敬請各師兄解答: H7 ^  H1 I: ?
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Thanks

' \5 ]4 j. d7 C( C那些根本係 紙上財富  5 B/ m# d3 t# r+ |" q# T
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0 o: e! {9 ]. ^$ j
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
( w7 v1 u# p% J0 @$ `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7 [8 \# M) R. G* V5 X
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦. l9 ^! ^0 a" ~( x  ^
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,4 q) `+ x2 b2 {+ c
計番回報率就已經係50%,所以可以好好賺
4 a8 f& ^! H" ]) I6 p+ G前提係銀行之間要互相信任先可以咁樣借法* o& M* Y0 Z4 L7 Q% _, S( `
同埋個市場既前境要係好先得: Y: [8 Y* C4 s/ Y
但當經濟一差,公司估值趺了,物價不升反趺
" c& Q0 s# E/ T例如剛才說10蚊的, 趺到得番9蚊,
& g) j8 c& `0 c咁投資銀行一下子就要還11蚊, 一來一回變左虧200%; Z" P' @  l- W, b* e4 M
所以你就會覺得D錢好似蒸發哂咁* T0 H* L1 T$ i/ k6 V& g# u4 v

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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 z) D5 _' V8 _; N) e
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
! w9 W3 b& E/ Y/ v& h+ M" [6 ?* p+ s& 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# F) Z' B2 t' O, d, Z
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
( S! Y! v) n8 Y+ U( \唔係d錢蒸發, 而係比美國佬洗晒未來錢,
9 c5 e2 S/ }- g: Z( o淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
. Q2 t% K7 ~( t& h# o3 I1 ]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, L) I- ]4 L6 M) P" {; C1 h
咁你話d錢蒸發左去邊? ...

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# I! C0 u8 V  C4 \正係咁樣; t: ?3 S" h0 }9 Z# D2 ]
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
4 E. d' C% _0 x4 V分分鐘佢地唔使還錢" A; ]6 l' r; s- w* d- ]

# ^, O4 n% A  S2 y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,
( \0 [% J7 ]9 \- D% k連國家都係問人借, 不停發債券, 印鈔票9 G- _2 T% Z5 s" B" v
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
( W1 V5 t" x0 _4 Y+ N* Y3 [+ R) A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
8 ^, r8 h3 |; k咁而家"爆哂煲"算唔算先至係變番"正常"???

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( _+ r: R& D. D2 F9 l其實係...6 R$ R+ q+ t# B& [4 o
因為以前未生產, 先消費
- x+ h/ f. [6 [( H1 B! w而家就要多生產, 少消費