Li Chong was completely speechless, I didn't study finance, I couldn't understand these terms when you told me, can't you say something straightforward? For example, what do you need from me? CDS？ What's that?

"Louis, let's just say what I should do, to be honest, I don't understand what you're saying!" Li Chong saw what the white man was going to say and hurriedly said, and after listening to him again, it is estimated that he will not be able to eat this lunch.

Louis was also very helpless when he heard Li Chong say this, he had already talked about this matter, and the CDS problems left in Li Chong's hands were not very big, who knew that it would have changed so much after a month, if it weren't for his carelessness, it wouldn't have been like this.

JPMorgan Chase is a savings and investment bank, of course, it also does some housing loans, but the scale has not been large, let alone the insurance business, which is a business that has not been touched before.

But since his immediate boss, the vice president of investments, who was about to retire two years ago, he had something on his mind. After all, he has been in JPMorgan Chase for nearly 20 years, according to his contribution to the position of director is already the limit, if you want to go further, you can only open up another battlefield, this time is the craziest time for mortgage financial derivatives, he issued a batch of CDO (Secured Debt Obligations) in the name of JPMorgan Chase with the tacit consent of the high-level, and he was even more greedy to take over the CDS (Credit Default Exchange) of this batch of CDO (Secured Debt Obligations) himself. At this time, CDO is a gold mine, CDS is just the tip of the iceberg, a hair on the cow's body, for him is just a backhand......

In this way, in the first half of the year, he earned a lot of money for JPMorgan Chase, and the performance of the investment department was also beautiful and amazing. However, as the subprime mortgage crisis intensified, the CDOs he issued became cheaper and cheaper, while the CDS grew rapidly.

If he had held the CDS in his hands at that time, he would not have had such a troublesome thing, after all, he was greedy, so he secretly sold this batch of CDS, and with the extra money, he bought this batch of CDOs issued by JPMorgan Chase in his own name.

Now the time has come to repay the debt, because of his greed, this batch of CDOs has depreciated sharply, and CDS has been constantly appreciating. For the sake of his own position, and for JPMorgan Chase not to give competitors a grip, he can only take back this part of the CDS into his own hands. And it is precisely this part in Li Chong's hands.

He has already done the bulk of this batch of CDS, although it costs a little more, but he can still accept it, so he is not too anxious about the remaining 30%. At this time, the most important thing for him is to continue the repurchase of the CDO, after all, the value of the CDO in the market has depreciated greatly, and they repurchase at the regular price, which is to make money and earn reputation.

As a result, as September approached, the price of CDS in the market began to rise wildly, especially on the 7th, the Federal Housing Finance Administration of the United States came forward to take over Fannie Mae and Freddie Mac, which raised the price of CDS in the market to sky-high. At this time, Louis remembered that the remaining 30% of CDS should be recovered, but when he found the holder of this batch of CDS, he found a very big problem, that is, this batch of CDS has been frozen, and he only found an agent instead of everyone, and the agent can only deal with assets below $100 million, and now this CDS is worth $120 million, which is three times higher than half a month ago.

Louis only knew that the owner of the CDS was a Korean, but now he could not be contacted, no contact information was left, and even his classmates felt that he was no longer in this world, after all, he had not heard from him since four years ago.

Just when he was worried, Larry found him. Time Warner and JPMorgan Chase are old partners, and Hollywood raises money in the banking industry every year to make movies, so Larry and Louis are familiar with each other. Larry's purpose was because Li Chong's classmates asked Time Warner to shoot a small-budget movie, and the group of them took part of the funds for the shooting, and the rest was in the part of JPMorgan Chase's financial products, but they can't get it now.

Larry really didn't care too much about this money, his authority was less than 30 million US dollars, and he could slow it down, basically he made decisions at will, or he would not have sent the crew out before the filming funds were in place. At this time, Larry also saw that Louis was a little anxious, so he asked, after all, he was an old friend who had known him for many years, and it was Louis who supported him several times and raised funds for the films he produced, otherwise Larry's status in Time Warner would not be so high.

Louis was also depressed at this time, it was a very simple thing that became so complicated, and now he had a good friend to talk to, so he told Larry about it, the more Larry listened, the more he felt that Louis was talking about Li Chong, when Li Chong's classmates found him, he thought that Li Chong knew that they were going to make a movie, and even he thought that Li Chong wanted to enter Hollywood, but it was not easy for Asians to get in, except for one Bruce Lee who broke out of the kung fu whirlwind, and the rest of Jackie Chan, Jet Li, Chow Yun-fat didn't have much success, let alone a film director, except for a Taiwanese Ang Lee who made a name for himself in Hollywood, the rest are more or less stable. Could it be that Li Chong plans to test the water with a small-budget movie?

"Uh, Luis, you said you couldn't contact that Korean?" Larry asked curiously.

"Yes, I tried everything I could find, and his friends didn't know his contact information, and the contact information left by New York University was invalid, and it was like he had evaporated from the world." Louis was still whining.

Larry wondered if something was wrong, "Luis, are you looking for a Korean named Steven Lee?" ”

Louis looked at Larry in surprise, although he was complaining, but he was still awake, just now he told Larry about the matter, but he didn't mention his name, how could Larry know?

"Do you know this Steven Lee?" Louis asked.

Larry knew at a glance that it was really Li Chong, and nodded, "Well, I know this Korean guy, I also contacted him half a year ago, and he bought me a movie script." ”

"Ah, do you know him? Can you still contact him? Hurry up and give me the contact information...... "Louis had an unreal feeling, the things that had already wanted to give up and bear the consequences independently suddenly took a turn for the worse, as long as he could get this CDS in Steven's hand, his trouble would not be considered trouble, as for money? Who cares, JPMorgan Chase really doesn't care much about this amount of money anyway.