Seeing that Chen Jin's attitude finally eased up, the two finally breathed a sigh of relief.

Jules was really worried that if Chen Jin disagreed and ordered to send off the guests, the business would really be smashed in his hands.

Amos took it for granted, in his mind, Chen Jin came to the United States with great difficulty, and bought a mansion of this level, it can't be used for vacation, right?

So he had some confidence, continued to let Jules translate, and said: "Mr. Chen Jin, according to my understanding, you have been engaged in the real estate industry in Huaxia. Before you came to the United States, your friends had already registered a real estate development company, it seems that you are interested in continuing to do business in the industry you are familiar with?"

"Of course. Chen Jin affirmed: "Doing business, practice makes perfect, why change careers to find unhappiness?"

Amos smiled: "Well, I think my suggestion will be of interest to you." ”

As he spoke, he took out a document from his briefcase and handed it to Chen Jin, and then explained: "Mr. Chen Jin, please see, this is part of the creditor's rights information of Los Angeles 35 Bank. ”

Chen Jin took it and squinted at it......

In the so-called legal society of the United States, everything follows the principle of commercialization and legalization, especially in terms of housing loans, which are implemented very thoroughly.

For example, if a person in Huaxia buys a house but can't afford to pay the mortgage, even if the house is seized by the bank, if it is the only house in his name, he can still rely on it, and even under special circumstances, it may not be forcibly auctioned.

But in the United States, once the debtor can't pay the mortgage, then sorry, the bank only needs to submit a complaint to the court, and the house will be forcibly emptied immediately, and the ownership will directly become the bank's.

In particular, after the subprime mortgage crisis in 2008, housing prices in Los Angeles fell by more than 35 percent, and by 2010, the number of property confiscations by banks in the country reached a staggering 370,000 per month.

Among them, Los Angeles was also classified as a "dangerous city for the real estate economy" by Fortune magazine, and the number of confiscated properties ranked among the top in the country!

In this context, 35 Bank, as a veteran capital party, actually relies on creditor's rights and all the real estate exceeds tens of thousands of units!

Just listen to Amos continue: "Mr. Chen Jin, if you know about subprime loans, you should understand that these debt assets mean great wealth. Unfortunately, the wealth of real estate is not what our bank needs, so we are always looking for ways to monetize it......"

"We would be happy to be your company's first partner if you wish!"

"Subprime Loan~Hmph~" Chen Jin sneered, and said in his heart that the leeks of the rice country are indeed very pitiful! The subprime loan is completely a mess of accounts in the rice country, and it is a magic weapon for the capitalists to occupy the commanding heights of the economy in a ring-by-ring way!

The first of these is the issuance of subprime loans by commercial banks.

At first, people with high credit ratings bought houses, but later there were fewer and fewer high-quality customers, and business was not good, so commercial banks relaxed the conditions, so that people with less high credit ratings could also buy houses, and they could make money by lending out the money.

But the rules of commercial banks are still in the way, what should I do?

Feign!

As long as the lender agrees to buy a house, although the credit is very poor, the commercial bank can fill in his credit history as good, and this can apply for a mortgage.

It's just that the interest rate of commercial banks lending to high-quality customers is 5%, while the interest rate of lending to people with low credit ratings is 10%. Such interest rate differentials are very profitable for commercial banks.

At the same time, in addition to people with poor credit, there is also a part of the market for those who cannot afford to buy a home.

Commercial banks will tell people who can't afford to buy a house: if you buy a house for $300,000, you can move in with a down payment of $30,000.

After a few years, if the house price rises to $500,000, you sell the house, pay back 300,000 yuan to the main bank, and have $200,000 left.

If you can't afford a 30% down payment, then 20%, or 10%, or even zero down payment.

If you don't have an income or your income is not high, you can't afford to pay back the monthly payment, so you can start paying it back after three years, but the interest is higher.

It is in this way that the capitalists use this means to get people who cannot afford to buy houses to buy houses. And once more people buy houses, house prices will rise.

People who buy a house are happy to have both a home and a waiting for the property to increase in value. There is no risk for the seller, because the commercial bank has already paid the money for the buyer with a loan.

After this operation, you can enter the second part of the routine: risk transfer!

In the first ring, both the seller and the buyer are happy, but the commercial bank bears all the risk.

If the house price falls and the buyer can't afford it, the house will not be worth much, and the bank will face huge losses.

As a result, commercial banks put all the mortgages together to form a kind of mortgage securities.

The usual mortgage interest rate is 5% and the subprime mortgage rate is 10%. The capitalist sells to an investment bank at a 6% interest rate and earns the remaining 4%.

In this way, the risk of subprime lending is transferred from commercial banks to investment banks.

Once the investment banks bought back the mortgage-backed securities, they began to design financial derivatives — and they did a bit of a job, turning the securities into subordinated bonds.

The interest rate on bank deposits is only 1%, while the interest rate on subordinated bonds is 10%, which is then sold to large clients in investment banks......

In this way, the subordinated bonds were generously sold all over the world!

In the economic upcycle, such a method can be said to be a profitable business - using the world's money to contribute to the economy of the United States.

However, at the moment when the capital group and the government were about to achieve major success in the financial war, a series of financial crisis events occurred......

A large number of financial companies went bankrupt, a large number of creditor banks failed, and the government of the United States had to announce that it had taken over the two major real estate companies in the United States......

Just like dominoes, companies continue to fall, thus forming a financial storm that affects the whole world!

This......

It is the cause and starting point of the global financial turmoil in 2008, but it is also an opportunity for China to take this opportunity to stimulate the economy, stimulate domestic demand, and rise strongly!

It can almost be said that the world's financial turmoil originates from the real estate of the United States, and the economic take-off of China also originates from the domestic real estate ......

It's just that now, the wheel of history has turned in front of Chen Jin - the 35 Bank is trying to attract him to intervene in the subprime loan with creditor's rights, repeating the old routine......

Or rather, this routine has never stopped, the capitalists do not learn their lessons, they only do profitable things!

"1,250 properties?"

After reading the information, Chen Jin raised his head and asked Amos: "This data is wrong, right? If the information I get is correct, you should have more than 10,000 sets of creditor's rights, how can you take out such a small amount?"

"About this~" Amos explained: "Mr. Chen Jin, we have also assessed your assets...... This amount of debt should be the limit of what you can afford!"

Chen Jin snorted: "Who are you looking down on?"