In previous years, the United States restricted immigration.

But it turned out clear that restricting immigration did nothing to help the U.S. economy.

Therefore, in recent years, the United States has newly liberalized its immigration policy. The number of immigrants in Latin America is also increasing.

There is a huge influx of new immigrants who need new homes. As a result, housing prices are favored, housing prices are rising, and new immigrants have no money to buy a house.

That's when a mortgage broker can take care of everything for you.

Let's take an analogy.

Link doesn't have any money, but wants to buy a son. The real estate agent helped him get a loan with a low down payment and took out a loan to buy the house when it was worth $100,000. Soon after, house prices rose and the house was worth 120,000. The mortgage broker would call Link and say, "You can borrow another $20,000 now." ”

Link is a poor man who has no money to repay the bank loan. So he immediately borrowed money to repay his previous loan.

Over and over again, Link would owe more and more debt to the bank. Because he repaid the loan on time, it was a high-quality asset of the bank. Banks can also package that debt into bonds for a profit.

The above is a good situation for the real estate market.

If once the house price falls. Link would not be able to borrow money from the bank to repay the loan. What to do?

It doesn't matter, there is a law in the United States: those who owe a mortgage are not obligated to pay the mortgage.

But don't think that's for the lenders, it's for the banks.

With this law, as long as the borrower is unable to repay the loan, the bank can directly apply for the seizure of the house and auction to recover the loan, without being regarded as trespassing on private property.

But the problem is that Link may have borrowed $200,000 and the house may only be worth $100,000. Moreover, there are many subprime mortgages, and there are many houses repossessed by banks. Those houses were not bought at all, so they became non-performing assets of the bank. Then, for the banks and the various funds that bought these mortgage bonds, the crisis came.

After the last subprime mortgage crisis, at least half of the mortgages issued by various banks were incomplete. It can be said that the root cause of the subprime mortgage crisis is largely the excessive number of such fraudulent loans.

In the aftermath of the subprime mortgage crisis, the dangers of mortgage brokering have become known. Now the Holden Company has hired a mortgage broker to sell the house. There must be banks involved.

That's the big news Catherine said.

That's really big news. Sixteen years have passed, but the subprime mortgage crisis has brought down almost the entire Western world. The United States itself suffers from this. Therefore, this kind of fraudulent lending is prohibited.

Now that such a news has suddenly broken out, that's why Kempner has such a surprising remark.

But he believes the Fed won't be unaware of what the banks are doing.

The final decision on the regulation of the financial sector in the United States rests with the Federal Reserve. And they're doing regulation.

The last time they caused the subprime mortgage crisis, maybe they made money, but it also weakened the dollar, and the recession in the United States began to accelerate. They won't make the same mistake again. The US economy has come to a standstill, and they have nothing to gain from.

But the U.S. economy, with the financial sector at its core, needs a banking boom. So they can turn a blind eye to things that have not crossed the line.

Kempner didn't pay much attention to the news either. He had almost no property other than a ranch, and as long as he could see the stock sold, his loss would not be too great.

So he was just taken aback and didn't intend to discuss the news.

He withdrew his gaze from the TV and said to Link, "Where did you just go? By the way, Link, I sincerely hope that you will join our association." ”

Link shook his head with a smile and said, "My farm is no longer in Texas, but it's weird to join your association." ”

Kempner also guessed that Link wouldn't agree to join. His invitation is really an attitude. However, since Link was reluctant to join, he immediately threw out an offer: "If you don't want to join us because of your location." Maybe you can become an advisor to our association. ”

"Advisor?"

"That's right. I think some of your Benehans technologies will be the basis for the Cruelty-Free Food Standard. We need to get your technical support. ”

Link listened to him bluntly, nodded and said, "If I can, of course I will." ”

As they talked, Link received a strange call on his phone.

He apologized to Kempner and got through.

"Hello, this is Link Hans!"

"Hello, Mr. Hans. Here it is......"

Link heard him introduce himself on the phone and turned out to be the vice chairman of the Federal Reserve.

He motioned to Kempner and walked out of the living room, only to say outside, "It's an honor to receive your call, Mr. Elian." But what are you looking for me?"

"Mr. Hans. We've noticed that your West Hollywood media has made some reports that are likely to cause misunderstandings in the market. I hope you will be more cautious in your reporting. ”

The corners of Link's mouth twitched slightly, and he said, "Mr. Elian, I don't really understand what you mean. I don't care about the companies, but I don't think West Hollywood Media will make false reports. ”

"Truth or falsehood is not the only criterion for anything. Mr. Hans, it is necessary for me to remind you again. The West Hollywood report has caused unnecessary panic in the market and the public. I believe that maintaining the economic stability of the United States is good for all of us. ”

Link heard the threat. The good for all? Does it mean that he had let Catherine report on the negative information about the Holden Company already jeopardize their "good"? But who would have thought that his good would need to be protected?

"I hadn't thought about anything else. But I don't quite agree with what you say: truth or falsehood is not the only criterion for anything. He paused and said. "For example, I'm often framed. Of course I know what it's like to be reported to the media. And there is a difference between real reports and false reports. ”

"And, I believe, the public needs to know what's really going on. ”

Hearing his words, the other party was silent for a while, and said: "Mr. Hans, it is not a good thing to be an enemy!"

Link chuckled and said, "I thought I already was! Otherwise, any cat or dog would want to bite me." I've heard about the Horton Company, and there are quite a few banks in which they have stakes. I think Mr. Vice-Chairman, should be informed. I'd love to give you face. But, Mr. Elian, who would have thought of giving me face?"

"So, Mr. Hans. How are you willing to give me this face?"

"I want Pacific Ridge Homes, not debt. Of course, I won't ask for it in vain. I can give Holden a million and six hundred thousand dollars. ”

Pacific Ridge Homes has a market capitalization of at least $100 million. But there is also a lot of debt. But he offered not to go into debt, but only gave $1.6 million. This is in the open robbery.

But the person on the phone almost immediately agreed: "Okay! I hope you can stop reporting for now." ”

"Yes. But sign the contract within 24 hours, otherwise I don't know if I can control the flow of information. Maybe they'll reach the mailboxes of individual parliamentarians, or they may appear in major media outlets in other countries. ”

"Deal in 24 hours! You can send someone to DC right away. "Elian doesn't care how much Link wants. Relative to the trouble it brought them, it was not a pity for the Holden Company to die. Don't say that it's just a loss of $100 million, even if Link wants more, if he can solve the problem with other people's money, he won't feel distressed if he gives more money.

After Link hung up, he called Catherine: "Catherine. Those reports were taken down for the time being. ”

Catherine seemed a little excited: "Why? Link, the public needs to know the truth. And it's a key to the development of our media company. ”

"If we continue to report, our personal safety will not be guaranteed! Listen to me, take down all the reports!"

"Someone has threatened you. ”

Link smiled and said, "Yes." Still a big guy!"

Catherine is not incomprehensible. Link only said two words, but she could hear the meaning. She had no choice but to admit defeat: "Okay, I understand." ”

Link then called Martha again, explained the matter, and told her to go to New York immediately.

Link put down the phone and looked at the farms that had turned green in the distance, but his eyes were unfocused.

He didn't expect to get the Horton company in mind, and even asked the vice chairman of the Federal Reserve to personally call to warn of the threat.

He is not a fool, if it weren't for the fact that the matter was too big, the other party would not have called him personally. At most, it is to find someone to convey the meaning of the other party and warn it.

There are some things he can't afford to mess with. He had to put it down for the time being.

Although he did not dare to hold on any longer. But half a day's coverage is enough to draw attention to the news. Especially those parliamentarians and stuff. Those banks may be able to escape, but whether the Holden company can get out of the investigation of those people depends on the ability of the other party.

His original intention was just to make trouble for the other party. In a sense, his purpose has been achieved.

As for asking for the Mid-Pacific Ridge home, it's not that he's greedy for that money. Just to give a warning to those who want to provoke him.

He stood outside the door for a moment before turning back to the living room.

Kempner saw that he was back and continued the conversation.

Kempner has confirmed that he will serve as president of the newly formed Cruelty-Free Food Association.

The public crisis of genetically modified food made him see an opportunity to put forward the concept of this pollution-free standard.

Non-organic food seems to be becoming dangerous, and organic food, while healthy, is too expensive and the production is unlikely to meet the needs of society. Some of the farmers he contacted had heard his ideas and thought it might be a way out.

As an initiator, it is only natural for him to serve as chairman. This afternoon, the inauguration ceremony of their "North Texas Pollution-Free Food Association" will be held in Amarillo. Before, Link had only planned to come to the ceremony, but now he was a participant.

It would certainly be good for him to be properly involved in their association.

Kempner's purpose in setting up this association was not to immediately promote the concept of pollution-free. What he needs to do is first formulate pollution-free standards that can be accepted by most people. Only when the criteria come out can they be convincing.

In this matter, if Link is deeply involved, he will be stumped. Completely out of the way, unable to exert influence on them. A job like a consultant is really the best. Then he would be an outsider and participate in their association. And it is possible to exert influence appropriately.