Yes.

Ye Dongqing is laying the groundwork for the upcoming subprime mortgage crisis in two years, and expresses his views in public.

The entry point was chosen on the credit rating agencies, and bluntly said that these companies did not do a good job, and gave up the exploration of objective truth for the sake of money, putting the entire CDO market in a dangerous situation.

It was February 2005, and in the past four years, due to the continued prosperity of the U.S. housing market and the low level of interest rates in the United States in the past few years, the subprime mortgage market in the United States has developed rapidly.

Subprime loans in the real estate industry are different from ordinary loans, mainly for people who do not have enough assets and income, and want to buy real estate.

People think that investing in real estate is profitable, coupled with the lack of strict lender review, the United States, which has been cold for decades, has once again set off a wave of real estate boom, and the subprime mortgage market in other areas is also overheated, and a wider variety of financial products have been derived, attracting waves of money.

It can be expected that with the cooling of the U.S. housing market, especially the increase in short-term interest rates, the subprime mortgage repayment rate has also risen sharply, and the repayment burden of home buyers has increased significantly, which will most likely lead to large-scale loan defaults.

History is strikingly similar.

This is due to the flaws in the market management mechanism, which some people mistakenly believe that there are loopholes to exploit, and the vigorous development of the subprime loan market has not changed with the arrival of Ye Dongqing.

As a matter of fact.

Judging from the current situation, the subprime mortgage market is indeed very good, and the crisis has just begun to show a little signs, such as the rise in the default rate and the uselessness of credit rating agencies as Ye Dongqing said just now.

It's not that I haven't thought about watching the fire from across the shore, and when the time is almost ripe, I will enter the market to make a profit.

However, Ye Dongqing is no longer the poor and white poor worm who wanted to get rich and couldn't sleep in 2002, this interest is not very important to him, it will only make the rich people who invested in hedge funds, and he himself richer, but for the majority of ordinary people who have invested in real estate, once they have a subprime mortgage crisis like in their previous life, they will lose everything.

This is a sense of social responsibility as a super-rich person, and Ye Dongqing also feels that another economic crisis may impact his personal interests, with both benefits and risks.

Since there is so much money that he can't spend it in his life, and the speed of spending money is far less than the speed of making money, he feels that there is no need to make a profit through this kind of accident and impose his happiness on the pain of many ordinary people, so he reminded him in this kind of public occasion.

After saying so much in one breath, when he picked up the water glass in his hand, his eyes were full of people talking to each other, even the old Soros, Mr. Dario and others were all heavy-faced, considering the current scale of subprime mortgages, if the industry was not as safe as originally imagined, they could have predicted how far-reaching the impact would be.

It is no secret that the vast majority of people on the scene know about spending money on ratings.

Ye Dongqing knew that he would definitely offend those credit rating companies by saying this, but he didn't care, because there are not many business contacts now, and there will not be too many in the future, if these institutions downgrade the ratings or valuations of his companies, wouldn't it just confirm this criticism of their lack of objectivity and fairness, the three major credit rating agencies have benefited from lagging policy support, and currently have carved up 95% of the global rating market, and there are too many good days, and there has been some expansion in recent years.

He didn't know if he could change the situation and contain the crisis quickly before it happened, but he would certainly try his best to ask some people in Washington, D.C., and the current chairman of the Securities and Exchange Commission, to talk about it.

If he is lucky, he can still make a fortune by shorting these institutions and companies that hold too many junk subprime mortgage products, businessman, how can he let go of the money he should make, he has already contacted Mr. McCord and Mr. Wu Di separately in the morning, and it is estimated that he is already trying to start building a position.

The investigation has been carried out in advance, and the scandal is real, now that the shady curtain has been revealed, most of the credit rating companies and the subprime mortgage market will fall into the quagmire, after all, Ye Dongqing's influence is not small.

The next topic continued to revolve around credit rating and subprime mortgage business, and the people on the scene listened quite carefully, from time to time some people took their mobile phones to send messages, or went out directly to call, some were selling subprime mortgage assets, and some had already smelled the smell of US dollars and were ready to try to short.

For these people, the mere $3,000 ticket money was not spent in vain, and Ye Dongqing had already explained it in detail, so detailed that they could also detect signs of danger......

It is never easy to be in the limelight, and if you don't have enough strength, you will be slapped in the face, especially when it touches the interests of some people.

Generally speaking, the interest rate of subprime housing loans is two to three percentage points higher than the normal loan interest rate, and the vast majority of fund managers on the scene, except for Ye Dongqing, have allocated subprime assets, and some are making money on the periphery.

For example, a manager of Bear Stearns' heavy subprime mortgage suddenly stood up and shouted, "It's all nonsense! Credit ratings are fine, subprime mortgage markets are fine, I don't know where you got the data, but neither the default rate nor anything else is so high!"

Including Ye Dongqing, people looked at this guy one after another, he was walking out angrily, and he was already planning to leave.

In addition to him, one of the world's insurance giants, an executive of AIA's parent company, American International, also suddenly left the scene, this company underwrote too many loan assets, and was trying to verify whether there is really a credit rating water injection risk as Ye Dongqing said.

Whether to listen or not is someone else's business, Ye Dongqing has the chance to win, and he doesn't feel ashamed at all, his face is built on success again and again, and he doesn't need others to add color to him.

As if it was nothing, he continued to elaborate on other points, and finally concluded: "Credit rating agencies must carry out a comprehensive rectification, and strengthen supervision, re-establish market confidence, as for subprime housing loans, I don't think it will be a good thing to lend a large amount of money to people who may not be able to repay the money at any time, if it continues to develop, it will inevitably cause a chain reaction, leading to a financial crisis, judging from the current scale of subprime mortgages, the crisis already exists, but the question of when it will break out......"

After saying that, he turned off the microphone and got up to leave, obviously not preparing to give others a chance to ask questions.

Because of this public statement, an "earthquake" is already on the way, and in such a short period of time, there are suddenly large orders to short Moody's, Fitch and Standard & Poor's, several short orders, with a total scale of more than 3 billion US dollars, and it is still increasing......

。 m.