1novels Chapter 297
Chapter 297
The United States is a society with a very sound and developed credit system, but precisely because the credit system is too sound and developed, there are always some people who intentionally or unintentionally let their credit rating be lowered.To put it simply, the vast majority of American college students rely on student loans to complete their studies, especially those related to gold-medal professions such as doctors, lawyers, and accountants.
But the problem is that the starting salary of American college students is not high, especially doctors, lawyers and accountants, and they must complete the initial vocational training in a metropolis, so the repayment of student loans often takes five to ten years, or even repayment. Some college graduates are bankrupted by student loans less than three years after graduation.A student loan is a very special type of loan in the United States. It is a loan guaranteed by the federal government or a state government. Therefore, a student loan must be repaid and has a very high priority.It can be said that if your student loans are not fully repaid, it is simply a luxury for you to want to buy a house or a car in the United States, and even buying medical insurance will be made difficult.
So this creates a situation where, on the one hand, many people do have low credit ratings; but on the other hand, these people also have a strong desire to borrow.This led to the creation of a "subprime loan" product, which was offered to people whose credit ratings were not very high.Of course, the interest rate of this kind of loan is very high and the floating interest rate will rise greatly in the future, so the lender will often be unable to repay and go bankrupt.Therefore, this kind of subprime loan is high-risk for both the lender and the borrowing company, but the profit in it makes the borrowing company indulge in it.
However, after smart capitalists invented subprime loans, they invented subprime bonds that combined several subprime loans and mortgaged them to investors.So the so-called subprime loans and stimulus bonds are actually empty hands of financial companies. When the US economy is developing well and the real estate industry is booming, everyone is naturally happy.
However, with the recession of the US economy and the desolation of the real estate industry, the subprime mortgage crisis gradually emerged.Last year, with the bankruptcy of New Century Financial Corporation, a wholly-owned subsidiary of HSBC, the subprime mortgage crisis began to show its power.Unfortunately, American investment banks and financiers believe that the U.S. economy is strong enough to fight against the so-called subprime mortgage crisis. Not only has subprime mortgage transactions not decreased, but even the number of credit default swap transactions that are purely gambling in nature is still rising.According to Jade's commercial espionage and investigation agency, Lehman Brothers alone has a backlog of at least 6 million US dollars in credit default swap contracts.When Jed saw this report, he could only say that Lehman Brothers Bank was "if you don't die, you won't die."
At the same time, as an ally of Jade, Merrill Lynch, a partner of Waring Investment Bank, has a very large number of bad debts in credit default swap transactions.It's just because Merrill Lynch is negotiating acquisition matters with AIG, so this bad debt is temporarily guaranteed by AIG.But Jed knew that although American International Group did not participate in credit default swap transactions, it also had a lot of bad debts in subprime mortgage transactions.On the contrary, the old fox of Goldman Sachs Bank seems to have noticed something unusual, but it has not been too deep in the subprime quagmire.
"The subprime mortgage crisis is much more serious than we expected," said Thomas, who is in charge of Jade's investment affairs. As far as the current situation is concerned, the latter three investment banks are basically bankrupt, unless there are big money owners willing to buy them. Goldman Sachs and Morgan Stanley are estimated to be severely damaged, but it is not ruled out that the federal government will help. After all It is too ugly to collapse all the investment banks in the United States at once, and Goldman Sachs and Morgan Stanley are also the dogs of the US government. How many enemies or opponents have helped the US government destroy the financial market? Save these two dogs?"
"Is it feasible to take over Merrill Lynch with the strength of Hualing Investment?" Jed knew that Merrill Lynch was eventually swallowed up by Bank of America, but Jed didn't know whether Bank of America was a reliable partner.
If Bank of America isn't easy to get along with, then Waring's investment would be a waste.Since accepting East West Bank, although Jed seldom worried about it, East West Bank has still vaguely become the core business of the Sherman family.The current East West Bank is not only one of the top ten banks in North America, but also the bank with the highest deposits in the western United States; at the same time, East West Bank now has branches in Hong Kong, Taiwan, Japan, South Korea and Southeast Asia, and has also entered the large 6 markets.Hualin Investment, a subsidiary of East West Bank, is already the most famous investment bank in the Greater China region. Almost all high-tech companies in the mainland have entered the NASDAQ market in the United States through this investment bank.
Jed didn't want to share the company with Bank of America, and Jed knew that many banks in the US were salivating over his Waring investment.In Mr. Lin’s words, “Some people will notice what your investment bank is doing for the mainland. Otherwise, why would you go to the mainland to open a foreign-funded bank, while other foreign-funded banks are picked on? What about you? Jane's bank in Emperor Xin is what they are most jealous of, so look forward to it."
"A reverse takeover of Merrill Lynch is not impossible." Thomas has been Jade's private investment consultant for five years, and during these five years he has become a man of the hour in the American private investment consultant circle.
Everyone knows that Jed Sherman not only has a rich net worth, but also his partner John's net worth is first-class, and there are three investment funds under the two of them, so the cash flow in Thomas' hands is no less than that of Morgan Stanley. A senior investment manager in such a large investment bank as Lee.The important thing is that Thomas has never missed a shot under Jed's guidance, which also makes him an indicator figure in the investment world.Not only are salary bonuses hard to earn, but occasionally writing a column or giving a speech is also piles of money.Thomas remembered his famous words when he took office, and followed Mr. Sherman to eat meat.You must know that when you take office, you are now a senior partner of the Blackstone Group, one of the few well-known private equity investors in North America.Thomas is very clear that this is his tomorrow, so he will not underestimate any investment intentions of Jade.
"The current cash flow of American International Group may also be interrupted. Once the subprime mortgage crisis breaks out, American International Group and Merrill Lynch are very likely to die together. I have notified the legal review of the partnership between East West Bank and Merrill Lynch. The contract is signed, and I think there should be clauses that are favorable to us. And as long as the price is right, I think the executives of Merrill Lynch should be more likely to favor us.”
Jed quickly understood the meaning of Thomas' words. How many executives of the investment bank are clean?If you wait for yourself to enter bankruptcy proceedings, then your gray income is very likely to be found out.And once the China Banking Regulatory Commission and the federal government activate the "take back" clause, then most of your legal income must be vomited, so it is better to sell it to an acquaintance.Jade just wanted the talent and offices of Merrill Lynch, while the executives just wanted to keep their own profits. It seems that everyone has something in common.
Just when Jed was planning the subprime mortgage crisis, the Christmas file also arrived as scheduled.Summit Films' film "Punisher 2: War Zone" began to appear in 6 North American theaters.It's part of the Marvel superhero franchise and is classified as a B-hero movie by Jed.This kind of hero movie is not to earn box office, but to gain a sense of presence.Now that I have acquired Marvel, I can't just be afraid of series that make a lot of money. Those series that are popular will also be remade one or two times, which can be regarded as feedback to diehard readers.So the "Punisher" movie made $35 million at the box office, only to be hastily canceled after a limited release.
It's not that the director Lexie Alexander's filming is too bad, but that he respects the original work too much. Therefore, apart from winning the applause of diehard comic fans, the general movie audience can't understand this movie at all.Although the box office performance of "Punisher 2: War Zone" is not satisfactory, "DVD", the world's largest DVD collection and buying guide magazine, stated, "The value of "Punisher 2: War Zone" lies in the DVD market, if nothing unexpected , the dvd of this movie will be the star work in the spring market next year."
Just after "Punisher 2: War Zone" was released in a hurry, the final episode of Summit Films' ace work "High School Musical" also began to appear in 6 North American theaters.This "High School Musical: The Prom" has become the most anticipated Christmas movie for North American teenagers. After all, many children grew up with this movie. graduation party?And who will be the king and queen at the ball?
"Yes, it is indeed a pity that Summit Films has indeed not launched a 'New High School Musical' plan in recent years." Rob Freddieman, general manager of Summit Films, told reporters, "But fans are welcome to We believe that the series of 'High School Musical' movies will not end here. In addition, we did sell the TV series adaptation rights of 'High School Musical' to we TV network and Dongfeng TV production company. As far as I know, this TV series has already begun to be shown in the United States Actors are being recruited. As for the name of this TV series, I’m sorry, I can’t reveal too much. But I have read the script, and it is indeed a wonderful story.”
On December 12th, Christmas Eve, "High School Musical: Prom" was drawn online in major theaters in North America.And this night, countless teenage couples lined up silently in front of the cinema.They are naturally happy to see their idol graduate in the movie, but sad that they will never see the sequel of this movie again.Lots of people collect DVDs and soundtrack CDs of the film, but their love for "High School Musical" has never diminished.
Christmas Eve and Christmas are the most important festivals in the entire western world, but Christmas in 2 was not so beautiful.When the teenage audience was still dejected about "High School Musical: The Prom", they didn't realize that their parents had a lot of worry on their faces.Christmas Eve is a good day to give thanks to God and reunite with the whole family, but on this night, many families were kicked out of the house.Or some mothers couldn't help hugging their father and crying bitterly after seeing a red mail in their father's hand, but the ignorant children didn't know that this Christmas happened.
While Jed was unwrapping Christmas presents with his kids, a text message on his phone read, "Beginning."