Chapter 172 The Impossible Easy Gathering

Prospect Park, Brooklyn, New York.

Relaxing greenery and lakes transform Brooklyn Park into a fairytale world on a summer day.

Kevin Lu was running comfortably on the lawn with a rugby ball, his every pore opening and breathing in the midsummer sun.

A few naughty children ran after him excitedly, screaming for joy.

A few men sat on a stone table under a tree, playing bridge intently, and a few ladies sat leisurely on the grassy slope chatting.

White smoke rises from the shade under the canopy of mulberry trees, and mouth-watering scents waft down the smoke.

Standing in front of the oven with an apron on, Raul glanced at the children running and chasing them on the lawn.

"Ladies and gentlemen. It's time to come over. The feast is ready. Raul finally shouted excitedly.

The party gathered leisurely, and Kevin Lu also stopped running, he picked up two girls and led the other boys to rush over like a gust of wind.

The long stone table was filled with people in the party. The men came from five families.

"Kevin, it's been a long time since I've had a barbecue." Zhuang Sen, who was sitting next to Kevin Lu, handed over a roasted chicken wing.

"I went to a couple of parties in Shanghai, and every time there was a barbecue. Mostly on the terrace though. Kevin Lu took a bite of the shiny chicken wings. The chicken wings maintain a fresh taste, unlike in the Chinese who like to add spice flavor.

"Really? Why not grill on the lawn? Having a barbecue on the terrace seemed too restrictive. Johnson had a palpable disdain.

"Kevin is telling the truth. The city of S is a very densely populated city. The way we live is very different from ours. We live in a detached house with a large lawn, which is too luxurious in S City. There are also some barbecue venues in S City, but most of them are not recognized and accepted by us because they are crowded and simple. So a barbecue on the terrace became an option. A middle-aged man took over the topic.

Lu Kaiwen looked at the other party carefully, his interest was always on this person.

This middle-aged man with a beard is Lawrence, whom Raul introduced him. Sinclair. Economic advisor to GS and expert on Asian issues. Professor of Finance, Long Island University.

"It seems that we are luckier." Johnson sighed.

Kevin Lu noticed that same disdain slipped across the corners of Professor Lawrence's mouth.

The barbecue is carried out cheerfully with the laughter of children and the chatter of ladies.

Lu Kaiwen and several of his classmates exchanged their experiences in S City.

He could feel the envious gazes of the crowd on him. They are envious of Kevin Lu's perfect figure.

"Kevin, how did you keep your figure so well? I used to hear Raul say that you were on the University of Michigan football team, and you know that you are still in the standard shape of an athlete. Raul's wife, Grace, finally couldn't help but ask. She is of immigrant descent from Mexico.

"No way, that's the good thing about being single. I don't have to run the family like they do. My spare time is boring, but it's also very regular. In China, I spend most of my spare time running. I actually really envy these guys who have families. Lu Kaiwen cast envious eyes on the people around him.

"All right, happy bachelor. Don't follow our example, let your happiness last a little longer. Another classmate of Kevin Lu, James Lenkett, shouted with emotion.

The collective laughter and scolding of the ladies poured out towards him.

Lu Kaiwen looked at everything in front of him, and his heart shook with a different emotion. I have a touch on my family.

The feeling that the family gave him was vivid and fulfilling.

Kevin Lu was finally able to start a discussion with Lawrence in his leisure time after the barbecue dinner.

Two of them sat on the lawn, and the others walked away in amusement.

"Professor Lawrence, thank you for bringing your family to this meeting today. I cherish this opportunity to ask for advice. Lu Kaiwen had the urge and eagerness to get straight to the point.

"Kevin, we're friends. It's also my pleasure. Actually, I often go to China, to S City, and when I knew that you were coming back from S City, I also became interested in you. Tell me, what's the current situation in S City? Lawrence's tone was gentle, calm.

Kevin Lu was stunned for a moment, he didn't expect Lawrence to be more active and eager than himself.

"Everything was calm. There is no obvious turbulence. I'm not an expert on this, so maybe I don't see anything. Kevin Lu replied honestly.

"The superficial signs speak for themselves. You may wonder why I would take the initiative to ask you such a question. Actually, it's me, no, it's that we're too nervous. I study Asian issues, and I often go to Japan, India, Malaysia, Korea, and other places. It wasn't until I went to S City for the first time seven years ago that I was attracted there. At that time, I believed that the future economic center of Asia was in China, in S City. Even the future center of the world economy is likely to be in S City. I became obsessed every time I went there. It was a magical city, a city full of magic. Its openness, its intellectual curiosity, its inclusive spirit. All of this is a sign of its future. There was a slow, demagogic power in Lawrence's tone.

Lu Kaiwen confirmed the other party's comments and his own impressions one by one, and he felt like a confidant.

"Mr. Professor, I'm here to ask you for advice. I also have a hunch that something may go wrong on the U.S. side, can you give your own advice? Kevin Lu quickly collected his thoughts.

"Kevin, it's all obvious. Over the past year, the entire Wall Street has struggled with this possibility. But the effect is very unsatisfactory. It's all of our own making. In the past 10 years, we have experienced prosperity, but we have also planted hidden dangers. The extremely prosperous economic environment makes us look for every opportunity to speculate. If we don't have the opportunity, we create our own speculative opportunities. Do you know? We at GS are one of the creators of these speculative products. Subprime mortgages are just one of the most significant and largest speculative products. At that time, we saw the profit margin of the subprime mortgage business, and we were no longer satisfied with the profits of the traditional bank business. We took the subprime mortgage guarantee, a junk product, and then packaged it into a bond and put it on the market. We succeeded, we created a myth in the securities market. A myth that amazes the entire Wall Street, the entire international financial community. The myth is to make garbage a sacred speculative product with magical charm. One of the biggest bubbles in real estate was born. Subsequently, subprime bonds became a universal product that the five major investment banks and the entire financial community sought to emulate. The bubble has reached an incredible size. When we found out that the bubble was about to burst, we had no power to save it. Kevin, do you understand what I mean? Lawrence shook his head gently in a heavy tone.

Kevin Lu saw the white hair on the professor's temples, and he could understand the anger and unwillingness in the professor's tone.

"You know, you mean that the collapse of the stock market is inevitable, stop having illusions." Kevin Lu took the professor's question.

"Yes. All aware investors are hopeful, and they are pinning their hopes on the Treasury. But what can the Treasury do? The total amount of money on Wall Street far exceeds the capacity of the Ministry of Finance, and all the Ministry of Finance can do is to protect a few super-large companies that are related to the national economy and people's livelihood. All it can do is choose, choose to keep a few key benchmarks. Do you know? Our regulatory system is the same as it was 30 years ago, do you know why? Once again, the professor threw the question to the young man who was listening carefully.

Kevin Lu shook his head, he had his own opinions, but at this time, he didn't have the courage to say it in front of such a person.

"Hehe, it's actually quite simple. Resistance. Resistance from the Congressional lobby. Wall Street's resistance. The neoliberal economic system encourages the dismantling of all barriers that can be removed. Encourage the creation of the greatest prosperity that can be created. Imagine what it would be like to use the system of 30 years ago to regulate today's dizzying array of financial products and derivatives. This is the helplessness we face today. Again, the professor shook his head heavily.

"I agree with you, but I don't know if I'm right on one question?" Kevin Lu gradually devoted himself to such fascinating thinking.

"Very good, I like the clash of views. You know, I always spend a certain amount of time every year teaching. I love this kind of work. The professor was refreshed.

Lu Kaiwen cast his reverent eyes on the other party's face, and the professor's expression and tone moved him. In his position, he can still adhere to a rigorous teaching attitude, which deserves everyone's respect.

"The spirit of America is freedom, and that's why we have the greatest prosperity. Such a regulatory system, while likely to cause short-term financial and economic hardship, would eventually lead to another boom in a free economy. This is perhaps the biggest reason why Congress chose the neoliberal system. I don't know if my understanding is correct? Kevin Lu was brave and honest in speaking his opinion.

The professor looked deeply at the young man in front of him, and then his eyes changed.

Kevin Lu couldn't decipher the emotions in the professor's eyes, there were too many complexities and too many experiences.