0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
6 n: [7 k% e. {* g) l  kWhy bank will sell 借據給第三者???7 \' J* N! Y3 }, ?& ^8 x. |3 O
I was so confused.....

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講到尾都係賺錢
& i) p4 C0 [6 ^0 _& ?so銀行可以不斷放款
1 g4 N& T  k: m' G美國的房貸問題散佈到全世界$ C$ ~4 v9 W7 R. C
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mortgage loan ) w, x3 `# F1 L% t) i0 w
>conduit
' r; F( r" Z8 M3 k8 }9 q>RMBS(Residential Mortgage Backed Securities)
6 J$ W. q2 \; O0 n  T>arranger
& h, q: b' p- I  }+ w! G>CDO(Collateralized Debt Obligation)
) q6 o3 v% H0 E; n/ n/ p最後去到投資者

Kev

i thought it is the reason of rate of return.; K8 b7 ~, ?! r, C
CDs could have different ratings, AAA -> F,
8 a. t; B$ W( B0 R; O/ P( m& O7 i" wmore risky ones would have higher premium (interest rate) as a compensation for an investment.
/ U, g. h- A5 r8 _' c( \main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,+ H4 o# u* G# i" T. n
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
# C( B7 I& R! ^* l. }6 {; pAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.& J, [" @% d; w* }7 b4 `
similar to bonds, CDs trading in the secondary market have different value at different times,; ^. `: _# t$ |# ~3 P1 m& u) g
normally the value is calculated by adding it's principle and interest. ) ~0 \$ a2 d) V6 V
eg. the value of the mortgage+the interests to be recieved in the future.
) t# X& A7 k8 n9 V4 W  pbanks 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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2 \3 |. @4 H4 t& Vim not quite sure if the multiplier effect does really matter in this case.0 `3 c# ~2 [/ [6 Q& b9 z6 z1 @
in stock market, it's the demand and supply pushing the price up/downwards., {4 |( L! b$ e% b' T9 L
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
4 C) D# o# e. t4 i2 KA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.% A7 S; \3 O8 B; H1 s( z4 B
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. 4 W  e9 f$ A' ~+ P. O$ T$ r0 i; c
but the value of their assets did really drop significantly.& v% E7 d" {0 {' Q9 p  W( L1 @
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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
. I% r1 i+ n, b% w: l2 {Refer to last example,# [0 O9 o1 s$ \$ D+ h& `6 f
that means bank A have no money because we borrow 10 dollars from bank A
% Q  H3 U" ]3 K/ S0 ZBecause bank A doesnt have enough cash on hand
5 I4 |. n2 A/ p) n2 u! I- Q, Ptherefore bank A need to be bankrrupt ??? Am I right ?? ...

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0 l* y3 l3 @) R; i8 r* Y& \A->B->C->D->E
+ ]* a0 J" @# hso does it mean if E failed to pay D, 4 E5 k$ U, d1 I& F9 P
all the B,C,D,E have to go bankrupt?" z; e. p. T2 y. o/ U3 F- x: y4 r

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the multiplier just tell how much money created in a whole economy, 2 r: l" |. h# S% \5 [/ W" X
in this case it doesnt really matter how much money is created,
4 N9 T# V$ c' u& |it's the problem of the debt itself.# w/ n2 k% i  X) C) ~1 o9 G+ e4 W
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! Q, L: ^0 g! K# r; M
小弟一直都唔明...
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) X& _) ^! p  t" A! f. v3 k4 w全世界都蝕錢，咁邊個賺緊錢呢?
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/ x8 s# D6 }/ Y6 O% G, n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* i$ N; y# D  Y" q- x, |% g

9 D& D# P2 A1 sThanks

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那些根本係 紙上財富  
# _5 n# m' k$ S6 D3 P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  J' {- C. h( x8 M  i4 W3 i
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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
( H, q: v: a% C9 G1 z" F當經濟好,投資銀行相信會賺錢, 物價既估值相對較高( k8 N, [2 i: M4 C1 O3 `7 c4 B3 W+ {
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
5 S: E  N! E1 a* G3 E: d個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
% ]. u  C* R- C4 K扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
, F) b4 E1 X8 R7 C計番回報率就已經係50%,所以可以好好賺
4 a& O) z! K; _; @* o2 y7 x前提係銀行之間要互相信任先可以咁樣借法) s, V) N& Z. R
同埋個市場既前境要係好先得
  t" [4 j, I/ Z! N9 A/ a0 E3 T但當經濟一差,公司估值趺了,物價不升反趺7 d- @0 i: d! ~5 u( x
例如剛才說10蚊的, 趺到得番9蚊,
9 h$ U0 ?* `4 B6 f' L& K咁投資銀行一下子就要還11蚊, 一來一回變左虧200%- ^- q; ?% K7 T) l& u
所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值,
% }, y+ E' R2 G: N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,
5 Z8 [7 @( b$ S  [淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 L8 D5 c1 H) Q: h. {5 ^1 D$ q" M
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% t. ?9 X& u  O) `. N  P; R6 N/ @  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
  Y2 `' o5 [) y  _唔係d錢蒸發, 而係比美國佬洗晒未來錢, ( g- c) a# G3 Y0 Q3 {4 H" k7 {' z0 b
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 9 a. e$ w" ]/ c) _% j  d- n
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8 v( Y  w! [& J& a( y
咁你話d錢蒸發左去邊? ...

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正係咁樣& {9 ^, ~+ k0 J! x* _
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( S0 l. Q+ D+ j* }& h4 c
分分鐘佢地唔使還錢
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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,1 N( i" E- S( e6 U( E
連國家都係問人借, 不停發債券, 印鈔票; l5 X5 _1 y! D( ^# X
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
3 U$ f+ S# Q& k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# b3 X( |' S3 K/ ~
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...; }- a0 ~" F: q. x9 B) |+ Y
因為以前未生產, 先消費
4 ~% _5 C; ?* X  a  `而家就要多生產, 少消費