Good people have good rewards, bad people are like plasters!

Fan Gang, his name was mentioned for the last time.

It turned out that Zijiang's group company had acquired a state-owned listed company in the light industry in Donghai. After the expiration of the suspension period, he signed a framework agreement with Fan Gang's real estate company to acquire 500 acres of his development land in a certain district.

During this period, Fan Gang purchased 500,000 low-priced shares of the listed company through the stock trading system.

Thanks to the feasibility report written by the buddy, after the framework agreement was signed, the stock rose wildly and became the most dazzling demon stock at the beginning of the year.

Some time ago, this guy sold his stock and made a net profit of more than 10 million yuan.

With this working capital, I have enough confidence to go back and negotiate with the listed company to purchase the land.

"The price per mu must be increased by 50% on the basis of the original set!"

He announced very domineeringly.

At that time, subject to the downward trend of real estate, land prices also came out of two or three waves of sine function curve images.

However, the difference between the maximum peak and the lowest trough is less than 20%.

The price was overwhelmed, and the listed company agreed to raise the purchase price by 25%.

After the contract was signed, it happened to run into the case of his son Xiao Zapi and me.

When the dust settled, his father-in-law, Wei Hehe Jue Lu Gordon, was miserable and miserable Huangquan Road. In prison, the psychological gap was too great, myocardial infarction, and he died.

The agency was too clever to calculate Qingqing's life.

His son and brother are also in prison.

Because of me, he was angry with Zijiang and affected the listed company, and he blatantly tore up the contract.

That's the end of it.

At that time, our tradition of integrity had not yet returned, and our business reputation was about zero.

As a result, it is difficult to litigate, even more difficult to enforce, and it is difficult to reach the sky!

Zijiang had no choice but to give an explanation to the shareholders, the most important shareholder, a special group that used their own savings to support the reform and opening up, and sued Fan's company.

Speaking of shareholders, a handful of bitter tears!

At that time, our relevant laws and regulations were not as perfect and strict as they are now. Therefore, there are iron roosters that have not paid dividends for 10 years, some have the money from the allotment circle and flowed into the pockets of major shareholders, and there are also cases of making false accounts and transferring assets to hollow out listed companies.

Listed companies have carried too much, joys and sorrows, sunny days and shortages!

Of course, the flaws are not hidden, and most listed companies are good!

The management is conscientious and conscientious to work for the benefit of shareholders. Therefore, there are dozens of domestic enterprises that later ranked among the world's top 500. In order to set off a wave of global mergers and acquisitions in the economic downturn, a powerful Chinese engine has been installed on the world economic train!

Of course, these deficiencies or backwardness are also the inevitable process and pain in the development of the times.

As advanced as the West, there is also an unbearable lightness in life!

At the beginning of the 20th century, the Bank of Bahrain was honored to acquire a special client: the British royal family. Thanks to the outstanding contribution of the Bank of Bahrain, the Bahraini family has been awarded five hereditary titles. This is a world record that laid the foundation for the Bank of Bahrain's prominence.

On 27 February 1995, the Bank of England suddenly announced that the Bank of Bahrain would not continue to engage in trading activities and would apply for asset liquidation. The news came as a global shock because it meant that the British Bank of Baring, which has been in charge of more than £27 billion globally for 233 years, has declared bankruptcy. The Bank of Bahrain has a long history of numerous eye-popping achievements, and its strong asset strength gives it a special place in the history of world securities. Let's just say this: the Bank of Bahrain is a shining pyramid in the financial markets.

So. How the pyramid collapsed in an instant: It all started in 1995, when Lisson, then managing manager at Baring Bank's Singapore Futures Company, was both chief trader and head of clearing. Once, one of his traders lost 60,000 pounds due to an operation error, and when Lisson found out, he decided to use the 88888 "wrong account" because he was afraid that the exposure would affect his future. The so-called "erroneous account" refers to the account in which the bank accounts for the brokerage errors that may occur in the course of trading on behalf of the customer (as a backup). Later, he repeatedly used the "wrong account" for personal gain, and created a bank account that showed all profitable transactions. Over time, the vicious cycle after the use of the backup account makes the company's losses bigger and bigger.

In order to make enough money to cover all his losses, Lisson took on increasing risks, and he was engaged in a large number of straddle trades at the time, from which Lisson earned a futures premium because the Nikkei was stable at the time. If you're unlucky and the Nikkei moves drastically, this trade will cost Bahrain a lot of money.

As a result, in the Kobe earthquake in Japan, the bulls opened positions, and finally caused losses of more than 1 billion US dollars. This figure can be said to be 1.2 times the total capital and reserves of the Bank of Bahrain. The 233-year-old store collapsed in an instant, and was finally bought by a Dutch group for a symbolic pound sterling.

In his autobiography, Lisson wrote: "I feel ashamed that I have become such a liar, which started as a minor mistake, but now it all envelops me like cancer...... My mother was definitely not going to raise me like this. ”

From an institutional point of view, the fundamental problem of Bahrain banks lies in the confusion between the trading and clearing roles. Unfortunately, Lisson is a one-man trader and a liquidator.

When the losses reached 50 million pounds, the headquarters of the Bank of Bahrain sent someone to investigate Lisson's accounts. In fact, every day there is a balance sheet, and every day there are obvious records, which can tell the problems of Lisson. Even at the end of the month, the false accounts that Mr. Lisson had created to cover up the problem would have been easily uncovered – if the Bank of Bahrain had strict censorship. Lisson faked that Citibank had £50 million in deposits, but the £50 million had been misappropriated to compensate for losses in the "88888" account. After checking the accounts for a month, no one went to check the accounts of Citibank, so no one found that there was no £50 million in the Citibank account.

With regard to the balance sheet, Peter Bahrain, chairman of the Board of Directors of the Bank of Baring, also commented in March 1994 that the balance sheet is useless because of its composition, which can change significantly in a short period of time, so Peter Bahrain said: "It would be naïve to think that revealing more balance sheet data will increase the understanding of a group. "No one could have imagined the price paid by the chairman of Bahrain who did not pay attention to the balance sheet.

Lisson's description of this period is: "I find it strange that there was no one to stop me. People in London should know that my numbers are all fakes, and these people should know about the cash I ask for every day at the London headquarters. ”

"There was a group of people who could have debunked and stopped my trick, but they didn't," Lisson said. I don't know what the line is between their negligence and criminal-level negligence, or whether they are responsible for me. But if it was in any other bank, I wouldn't have had a chance to start this crime. ”

If these are not enough, a bigger financial storm is coming! (in advance in the novel, forgive me)

The U.S. Subprime Mortgage Crisis (SUBP

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ISIS) is also known as the subprime mortgage crisis, also translated as the subprime crisis. It refers to a financial turmoil that occurred in the United States due to the bankruptcy of subprime mortgage lenders, the forced closure of investment funds, and the violent volatility of the stock market. It has led to a crisis of illiquidity in the world's major financial markets. The "subprime mortgage crisis" in the United States began to emerge gradually in the spring of 2006. In August 2007, it began to sweep the world's major financial markets such as the United States, the European Union, and Japan.

Subprime mortgages are subprime mortgages (subprime mortgages

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In the term "subprime mortgage crisis", it refers to low credit and low ability to repay debts.

Loans are a very common phenomenon in the United States. Locals rarely buy a house in full, often with long-term loans. But unemployment and re-employment are common here. These people who have an unstable or even no income at all, and buy a house because their credit rating does not meet the standard, they are defined as subprime credit lenders, referred to as subprime lenders.

One of the root causes of this crisis lies in the neoliberal economic policies that the United States has accelerated for nearly three decades.

The so-called neoliberalism is a set of trends of thought that take the revival of traditional liberal ideals and the reduction of government intervention in the economy and society as the main goal of economic policy. The neoliberal economic policy of the United States began in the early 80s of the last century, and its background was the economic stagflation crisis of the 70s, which mainly included: reducing government intervention in the financial, labor and other markets, cracking down on trade unions, and implementing economic policies to promote consumption and promote high growth with high consumption.

Against the backdrop of legal reform, speculation on Wall Street in the United States is becoming increasingly intense. Especially since the end of the 90s, as interest rates continue to fall, the pace of asset securitization and financial derivatives innovation has accelerated, coupled with the luxury consumption culture that pervades the whole society and blind optimism about future prosperity, it has provided the possibility for ordinary people to borrow ahead of consumption. In particular, through the myth that the real estate market only rises and does not fall, a large number of consumers who cannot afford to repay are induced to borrow money to flood the housing market through mortgages.

The apparent cause of the storm in the U.S. subprime mortgage market is the rising interest rates in the U.S. and the continued cooling of the housing market. The rise in interest rates has led to an increase in repayment pressure, and many users with poor credit feel that there is a high pressure to repay and the possibility of default, which will affect the recovery of bank loans.

Due to the high price of the previous home, the bank believed that although the loan was given to the subprime credit borrower, if the borrower was unable to repay the loan, the mortgaged home could be used to repay it, auction it or sell it to recover the bank loan. However, due to the sudden drop in housing prices, when the borrower is unable to repay, the bank sells the house, but finds that the funds obtained cannot make up for the loan + interest at that time, or even the loan amount itself, so the bank will lose money on this loan.

In order to make huge profits, many investment banks use 20-30 times leverage (Leve

age), assuming that Bank A's own assets are 3 billion, and 30 times leverage is 90 billion. That is to say, bank A uses 3 billion assets as collateral to borrow 90 billion funds for investment, if the investment profit is 5%, then A will get a profit of 4.5 billion, which is a 150% windfall profit relative to A's own assets. Conversely, if the investment loses 5%, then Bank A loses all its assets and owes 1.5 billion.

Due to the high risk of leverage, banks do not carry out such risky operations according to normal regulations. So some people came up with a way to use leveraged investment as "insurance". This type of insurance is called CDS(c).

edit default swap).

Housing prices can't rise to a certain extent, and no one will take over later. At this time, real estate speculators are as anxious as ants on a hot pan. The house could not be sold, and the high interest had to be paid non-stop, and finally the day of desperation was reached, and the house was dumped at the bank. That's when the default happens.

CDS contracts and subprime mortgages are both financial derivatives, and the CDS market is an important financial transaction body in the financial system.

The reason why I spend a long time documenting these events is because I want to remind people that a happy life can only come from hard work, and that gambling will not lead to results.

You think, God is rolling the dice, do you think your IQ is higher than his?

From thrift to luxury, from luxury to thrift.

Roman later told me that her cousin, who worked in the United States, had just joined the job with a monthly salary of $5,000, and was an ordinary clerk in the United States. The bank evaluated, well, you are a genius, the future development potential is immeasurable, come and take a loan!

So, he got a $20 million villa, the kind with a swimming pool.

After the subprime mortgage crisis, the house was repossessed. So far, I can't find the position, wandering in New York, high or low.

In the past, money was issued on the basis of stored gold, and in the past, we consumed it according to the mos in our homes

EY. Now, overdraft consumption, leading the fashion.

How to supervise, guide and grasp is a major issue for us as individuals, and even at the level of the whole society!

Moreover, these painful lessons have also confused those who must call themselves the West! Ahhhh

Students who don't think about it, blindly follow the trend, isn't it, a blind man riding a blind horse, approaching a deep pool in the middle of the night, isn't it?

Well, get on with life.

Here, Zijiang's civil lawsuit has not yet been resolved, and over there, Fan Gang has an accident first.

Hidden in the city!

What oriental wisdom.

The poor are making trouble and no one asks, and the rich have distant relatives in the mountains.

Fan Gang is the latter, if you don't show off, will you die?

In an interview, it is estimated that people also want to use him as a negative lesson and summarize it.

"Well, now it's hard to be an entity, and I look at a lot of faces. I, the tycoon, have long since quit. In the negotiation of land acquisition with a listed company, I wisely bought their shares, hahaha, a few months, more than 10 times the profit!

In the next step, I am ready to enter the capital market......"

The truth is, there's no next step!

The staff of the Securities Regulatory Commission invited him to tea, and by the way asked him to discuss the crime of insider trading, the sentence of imprisonment.

This guy confessed to Zijiang and said that it was the news that Zijiang told him.

Ou Daya, buddy's old friend, is back in the rivers and lakes.

"The situation is not optimistic, and there are basically two aspects. ”

The lawyer, sitting in the living room of my burrow, said with a heavy face.

"One is the leakage of the acquisition news, with Fan Gang's testimony, and the other is that the stock market has fallen sharply, and the serious shock has caused dissatisfaction and rights protection among shareholders, demanding that the shady scenes be investigated. ”

"Don't worry, old friend. Start with a cup of tea. ”

After I poured the tea, I took a sip with him.

"From the previous incident, we only need to prove that Yang was during the execution of land acquisition negotiations on behalf of the listed company, not before that, so there is no leakage problem. Judging from my memory, the land acquisition framework agreement was signed three days before the gathering between Yangzijiang and Fan, as evidenced by the newspaper announcement! The day the feasibility report published by the newspaper (the stock price began to soar) was on the seventh day after the party, and Fan Gang, as the acquirer of the land, had already known the news, not after the stock price had soared, so there was no fallacy that Zijiang took the initiative to leak secrets.

As for Fan, as an asset seller, he bought stocks with his eyes closed, whether he complied with the relevant provisions of the securities law, this is not something that Yangzijiang, an individual, can judge and prevent, right?

When I finished, I remembered what happened to my friend.

Many years later, in Lincheng, my buddies and I attended a certain dinner.

During the banquet, one person walked through the cave and transferred from several drinking parties.

"Friends, I'm so excited to see you!

One cup down, it's over!

The widow of the deceased, the lawsuit went to the court, the whole table, one is counted as one, and each person is compensated more than 20,000 yuan. The most unlucky were 3 ladies who didn't drink a drop of alcohol.

Failure to fulfill the relevant obligations!

"Well, Dajun, I see that you are becoming more and more familiar with the legal process!

Ou Daya was joking, with a little admiration in his eyes.

"Hahaha, I almost became a rival with you!"

I briefly mentioned that when I was working in Ben Thanh, because of my unskilled accounting business, the financial manager, a middle-aged woman, despised and kept a hand on me, the financial director.

At that time, I was depressed and hesitant, and decided to change careers and took the national judicial examination.

Later, I humbly apprenticed to a 45-year-old middle-aged man with dark skin and a bright heart in the factory, his feet were a little lame, but the sunshine was always in his heart, so with a bright face, a local old accountant in Bincheng, a master of practice, I would like to thank him for his patience and unreserved teaching and help to me!

"Director Liu's future development potential is by no means comparable to us, haven't you ever eaten a pig's head and never seen a pig run?

That's what he said when he helped me fight back at the' finance manager who once mocked me in public.

Brother Nietzsche said, "He sinks, he falls." "You have laughed again and again, and behold, he has fallen above you. He is glad and sorrowful, but his bright light is right with your darkness.

The Buddha said, "When someone hurts you, they're actually here to cross you!"

Alas, I am also a special thank you to those who have laughed at me over the years! I have become strong because of this, and I have gone all the way, you lovely mortals.

"Oh, how's it going, have you passed the test?"

Ou Daya took a puff of cigarette and spat out the smoke ring very comfortably.

"Hehe, hey, four courses, with a total score of 600, my buddy scored 315 points, and it became a fake. ”

I said self-deprecatingly.

"Ah, that's a pity! I remember the cut-off score, it seems to be 360 points, right?"

His facial muscles cramped.

At that time, I happened to be investigating the corruption case in the factory, and I wanted to be quiet and not stop. ”

To put it mildly.

"Well, maybe, this is the arrangement of fate, right? By the way, the army, how can you defend the events that followed?"

The excited expression of the big tooth disappeared in an instant, and his brows furrowed and became solemn.

"Well, I don't know. Although it is certain that there is nothing shady! But the fact is that many shareholders, after reading the company's announcements and forecasts, bought stocks, and many of them still took over at a high level. Now, the real estate venture is not established, the valuation has plummeted, and the losses are heavy!"

I also have some feelings of lack of oxygen in IQ and drowning in EQ.

"Alas, it would be nice if a real estate company suddenly announced a joint development. ”

Beat the big teeth and talk to yourself.

"Huh, what did you just say?"

A word wakes up the dreamer. At that time, I fell into the imagination of the impossible. Either it was Fan someone's conscience who discovered and executed the contract, or how to prove that there was no shady scene, this is a case of loss of goodwill.

"Hehehe, you are a dog and a sheep? I said, is there a real estate company willing to sell the project!"

Old acquaintances, sometimes, jokes, are all big sentences.

"Hahaha, Senior Brother Ou, you want to get it!

As soon as I was excited, my buddy's native accent didn't change, well, sideburns, and it didn't fade.

Next, the details of the split action were discussed.

A few days later, the Donghai economic newspaper published a long report entitled "Blue Home, Fantastic Community - The Horn of the Weaver Girl Listed Company to Enter Real Estate, Blowing Loudly".

The company acquired 51% of the equity of Wanmin Real Estate's Blue Home subsidiary at a premium of 5% at the land market price, opening a gorgeous turn in the transformation of real estate.

As soon as the market opened on the same day, the shares of the Weaver Girl Company were firmly sealed with a daily limit!

A few days later, the first case of Donghai Securities was opened.

I don't want to repeat what happened at trial.

It no longer depicts how the media attracts attention, beats big teeth, and how prosecutors and judges fight wits and courage to maintain the fairness and justice of the legal process.

Aesthetic fatigue exists, not to mention, what about the repetition of the same scene?

The result was: Yangtze River was released in court, and Fan went in.

Confiscation of the resulting illegal gains and a fine!

The family is rich and the people are peaceful, and eventually there is a family that dies and everyone scatters.

In vain, the intention hangs in the heart of half a world;

It's like, swinging three more dreams.

Suddenly the horn is like a building falling, and it is miserable like a lamp is about to run out.

A joy and sorrow. sigh the world, it is difficult to decide.

It's still Mr. Cao Xueqin, you can see it through!

For the Fan Gang family, which is amphibious and powerful, it is prosperous and wealthy, and it is like a dream of Nanke, which is extremely prosperous and declined.

A person, standing between heaven and earth, you can have a low IQ or a very low EQ, but the pattern of your character must not be small!

If you don't have any talent, but you have insidious qualities, then the gods can't save you!

If you stare at the abyss for a long time, then the abyss will look back at you in the same way.

Now, the first batch of bad guys described in this book have gone to the high-walled power grid and reunited.

Someone once said that the scourge lives for a thousand years, hehe, that's not knowing, the Buddha's proverbs!

It's not that you don't report it, the time has not come.

"Benevolence, righteousness, courtesy, wisdom, faithfulness, loyalty, filial piety, forgiveness, and courage" are the core of excellent Confucianism.

On the night of Zijiang's freedom, two tables of people were invited.

Eat Yunnan cuisine.

Qingqing's wife, son, and I, as heavyweight guests, sat at the head of the table.

Mr. Qian, beating big teeth, and a man in his 50s, as a graceful mountain, sat at the head of the first seat.

Niu Na, affectionate and humble to Qingqing's wife, looks at me, and it is very pleasing to the eye.

"Hey, Zhang Shan, you are too discerning! Actually, from the very beginning, I advised you to hold the army tightly, right?"

"Well, yes. After listening to you, I cherish our family army. ”

Reach out and don't hit the smiley person.

Qingqing's wife also looked grateful.

When I went home at night, my wife was clear, and she said to me with a smile,

"Husband, you said Sister Niu Na, your attitude changed too quickly. I can't adapt to it. ”

"Hahaha, it's okay, actors! But let's not follow good people and learn from good people, and jump ropes with wizards. ”

"Hehehe, you're a wizard. The mantra I chanted made me willingly intoxicated. ”

"Hmm, let my brother see, are you really drunk? Beauty is not drunk, there is no chance. ”

The moment the red lips were captured, a murmuring voice rang out.

"Really, drunk, come on...."

During the banquet, Zijiang led me to the first toast.

It was grandly launched, from the chairman of a mining company in the grassland, Mr. Mingyang.

His hair was gray, his beard was gray, but he was energetic, and he spoke and behaved elegantly and steadily. None of the arrogance and frivolity of the nouveau riche I've ever seen.

The eyes are full of wisdom, easy-going and perseverance.

"Hehe, I heard a friend talk about you, the army, yes. ”

He held the cup and said something that made me a little foggy.

"Ah, Mr. Ming, thank you for your appreciation, I'll do it first! ”

Soon, I reacted and toasted.

Neither humble nor arrogant.

"Thank you, old classmate! The group company has no money to invest in the development of Donghai real estate. Therefore, I have been instructed to participate in the negotiation of the transfer of shares of the legal person tomorrow, and I invite you to participate in the negotiation as our representative, is it okay?"

Zijiang is a little lonely, after all, Donghai has his career and youth, but because he failed to help the boss of the group company speculate in private stocks, he has to go back and work as the CEO of the group to pay off debts, in fact, it is their boss, there is no effective executive, find an excuse to transfer him back, because in the eyes of the boss, the loss of millions is just a number.

Of course, he was given a 10% stake.

Before leaving, sell the corporate shares of this listed company and go back as the start-up capital for the group's investment in Spring City Real Estate.

At that time, corporate shares were not yet negotiable, and they could only be transferred in the private market.

"Okay. Anyway, buddy is unemployed again. ”

Sighing, a little depressed.

The state-owned real estate company in Donghai called several times, and because it was fully engaged in rescuing Zijiang, the report was delayed, and in a fit of anger, one of the candidates was selected, and he took office yesterday.

"Hey, I'm sorry, I lost your chance. Apologies again!"

Zijiang took my hand, and his voice trembled.

"Hahaha, don't say that, brother, drink!"

I don't want him to feel guilty and can't find any words for a while, cheers!

It's all in the wine.

"Well, tomorrow's negotiation will have someone you know. ”

Mr. Mingyang, what he said during the last glass of wine made me both look forward to it and be nervous.

People are familiar, it's not easy to bargain......