AIG went from a $1 trillion company with $180 billion worth of assets to the brink of bankruptcy. Beginning in 2005, U.S. Attorney Elliott Spitzer played a crucial role in AIG's charges. It directly led to the early resignation of CEO Greenberg, one of the founders of AIG for nearly 40 years, and AIG spent 4 years in internal friction and turmoil, during which the company's management was in chaos, different factions and employees were suspicious of each other, and the company's performance plummeted under regulatory pressure, and eventually led to major mistakes in AIG's investment decisions, which was during the financial crisis

The direct cause of the heavy blow to AIG.

As for why the subprime mortgage crisis has a significant impact on AIG, it is necessary to start with the mechanism of CDS products, which are similar to a credit guarantee insurance product, except that the guarantee agency needs to strictly and prudently review the qualifications of the guaranteed party. In other words, U.S. financial institutions selling subprime mortgage derivatives to investors often require AIG to endorse them, which means that once a risk occurs, AIG will assume the ultimate risk. From this perspective, it can be seen that there may be more hidden reasons for the subprime mortgage crisis, you must know that during the time of the former CEO of AIG, Greenberg, they were extremely strict in investment risk control, and large-scale and high-risk CDS products could not pass AIG's review at all.

Guo Guangchang probably knows more about the AIG of the Greenberg period, and does not pay more attention to the AIG that has deteriorated. This is also very similar to most of us ordinary people who only focus on the company and do not pay attention to the company's management. Many times, a CEO can save a company that is about to go bankrupt and vice versa.

"If you can't make up your mind now, that's okay. By September, the news that AIG is going bankrupt will definitely come out. Zhou Shi smiled at Guo Guangchang, not caring at all, such an opportunity as AIA was just some small pearls in his memory. And it has nothing to do with his main business, if he does it very well, he can make a profit, and if he can't do it, his prestige will also increase. When the time comes, maybe someone will say Guo Guangchang's cool words: Look at Zhou Shi at that time and gave such a good opportunity, you don't know how to cherish it, if I am in charge, how to ......

"How much money do you say it will take to win the friendly countries as a whole?" Guo Guangchang

"It's about $30 billion, but I can't figure it out. "$30 billion is the data in Zhou Shi's memory, and Galaxy Capital is not capable of coming up with such a result. If AIG really wants to sell AIA at that time, this valuation data should make Guo Guangchang have a higher evaluation of Galaxy Capital's ability, Zhou Shi laughed secretly.

"$30 billion, this ......" Guo Guangchang was a little chilled, he didn't sell so much of the Fosun system, not to mention that he couldn't sell it.

"We can find more local tyrants!" Zhou Shi thought of the nouveau riche in Abu Dhabi at this time, uh, it should be said that the price of oil has soared for a few years, although they have always been rich, and now they are richer, so it is not wrong to say that they are nouveau riche.

"Where is there such a local tyrant to find. "Guo Guangchang

"Sovereign funds, I have some connections with the local tyrants in Abu Dhabi, if I can pull the funds of Huaxia and Xinjiapo, maybe it will be. "Zhou Shi is actually nonsense, 30 billion US dollars, even after the world's currency is released, this is a large amount.

"It's really not good, let's be a small shareholder, see if we can enter the management and learn from their advanced experience. Zhou Shi went on to say that in fact, he said this to Guo Guangchang, who is now taking a stake in a small insurance company that is about to go bankrupt, which is his first step into the insurance industry. As a well-known "Guo Feite" in China, it would be strange if he was not interested in insurance.

Guo Feite, oh no, it was Guo Guangchang who didn't speak, holding a fishing rod and thinking carefully. Zhou Shi's mentality is quite old, and fishing is just right for him. Seeing Guo Guangchang in trouble, he was secretly happy, if Zhou Shi would definitely not think about it so much, money does not need to be considered, and if he decides to buy it, he will make a move, and if he has no money, he will not buy it or buy less.

Soon spent an afternoon, Zhou Shi returned to the city.

"Mr. Zhou, someone wants to ask you to meet. "Chen Wen

"Who?" Zhou Shi replied casually, to be able to contact him, this person is not simple.

Yin Tongyue, CEO of Qirui Automobile. "Chen Wen

"We don't have any contact with him, I don't seem to know him. "Zhou Shi

"He knew our contact information through Mr. Liu. "Chen Wen

"Hey, let's see each other. Zhou Shi sighed that he had troubled Old Man Liu many times, although he didn't really give him much help, but he still owed a favor.

"Okay, I'll get in touch with him. "Chen Wen

Unexpectedly, in the afternoon of the next day, Yin Tongyue arrived in the magic capital, but it is understandable that Anhui Province and the magic are not far away, and the highway is very fast, so everyone made an appointment to meet in the evening. Zhou Shi also took the opportunity to check some news about Qirui Automobile, and there was nothing particularly important. It was their plan to jointly develop a domestically produced high-end brand car with a foreign fund that collapsed due to the subprime mortgage crisis.

"Mr. Zhou, do you have to help me this time?" Yin Tongyue got acquainted with each other as soon as they met

"Why? We've just met. "Zhou Shi

"You're the only one who can help us. "Yin Tongyue

"Don't say that, I don't have the ability, I'm a layman with cars. "Zhou Shi

"I also learned from Ye Yang that he has been a frequent guest at the State Department recently, and we know from our cooperation with Analysys that you have in-depth research on the U.S. auto industry, and I want to know if Qirui has any chances. "Yin Tongyue

"Opportunity, what opportunity do you want?" Zhou Shi asked curiously

"It is an opportunity to take Qirui one step further. "Yin Tongyue

"It's too big a topic for me to do. It's not my responsibility to take your business to the next level. Zhou Shi refused without hesitation, let Qirui go further, MD, it is better to say that it is more reliable to make you the richest man in China. Who knows how you define it further, some people are more focused on profits, some people are more focused on scale, some people are more focused on technology, and some people are more focused on sales. Does Zhou Shi still have to guess one by one, this guy can't be the boss for a long time, speak ambiguously, let his subordinates guess, if he does a good job, it is his credit, and if he does wrong, it is a problem of the ability of his subordinates? Zhou Shi has really met a lot of bosses who like to play tricks, and the only thing that is fortunate is that it is not his boss.

Yin Tongyue coaxed Zhou Shi a few more words, thinking that he was young and the most unprovoked, but he didn't expect that after a round of words, Zhou Shi would not move like a mountain, and the water could not be splashed.

"I heard that Mr. Zhou had approached Geely before and wanted to cooperate with him to acquire Jaguar Land Rover, but he missed this opportunity. I don't know if Qirui has such a possibility of cooperating with you to acquire a certain car brand," Yin Tongyue said when Zhou Shi couldn't help but serve tea to the guests.

Thank you Wu Haibin for the monthly pass in 2015

(End of chapter)