The emergence of thousands of home buyers who are unable to repay their bank debts is the direct cause of the outbreak of junk debt in the United States real estate, which also triggered the subprime debt crisis in the United States and opened the prelude to the financial crisis.

When it comes to junk debt in the United States, it is actually a very complicated matter.

The U.S. loan credit system used to be very sound and perfect.

But all this gradually deteriorated after the great increase in Chinese immigration.

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Because the Chinese people are smart and know how to take advantage of the loopholes of the law.

Seeing that the credit market in the United States is so large, the overseas Chinese who emigrated began to think about how to use credit to make a fortune.

Zuihou was thought of by them, that is, you can't make money by taking the regular way, because there are more and more haode big companies to do this, and it is not their turn.

If you want to make money, you have to start with a business that big companies don't do -- falsifying fake credit ratings for Americans who don't have enough credit ratings so that they can get a loan from a bank.

Since the 90s, the consulting and financial companies of Chinese immigrants have been cheating since childhood.

At the beginning, it was just a credit rating from BBB to BB, but zuihou has developed to the point where he dares to fake a person with a B rating and a high-quality customer with an AA rating.

It cannot be said that Americans are all fools, and many banks have discovered this problem, but they all need to continue to lend out to increase their operating income and cause a prosperous business.

However, at the same time, the credit repayment ability of the loan customer is very low, and the loan money may not be recovered, which is also a very serious problem.

So the banks in the United States simply package up all these debts and sell them to funds or insurance companies in the financial market, making a little money themselves, or not making any money. Throw the whole baggage away.

This is where subordinated debt comes from, and the debt that is sold from banks to the secondary market is called subordinated debt.

What Xiao Qi wants to do is to ask CFP to make a hedge fund that specializes in shorting mortgage bonds, and once the subordinated debt explodes, then Xiao Qi will be short. You can make a lot of profits.

If this is the only thing, it cannot be regarded as a lack of morality.

In a past life, the most immoral person who made money from subordinated debt was a hedge fund manager named Paulson.

Just this month, he will join Goldman Sachs in the deutsche industrial bank, ABN AMRO and the American insurance company ACA by peddling subordinated debt and then shorting subordinated debt.

Deutsche Industrial Bank bought only $150 million in subordinated debt, while Zuihou Germany spent $13.5 billion to save it from the brink of bankruptcy.

ABN AMRO is much worse. Directly because of the huge loss, the loss was not enough, and Zuihou was annexed by the Royal Bank of Scotland.

The ACA was also nearly bankrupt, losing $69 billion in early 2008, which is still not enough to compensate for the losses caused by subordinated debt insurance.

This "greatest hedge fund deal in history" also made Paulson famous and became another financial predator after Soros.

You trick people into buying your subordinated debt, and then you turn around and ruin them. This kind of means of doing business is really shameless and immoral!

Xiao Qi is not a bad person.

But for the two countries that hate and discriminate against China the most on Shijie - Germany and Japan. He was very interested in being like Paulson to trap them and make them taste the bitterness.

As mentioned earlier, after Xiao Qi was reincarnated and reborn, his biggest dream was to create a high-tech electronics industry of his own.

Other than that, if there is an opportunity. The teenager also does not mind severely suppressing opponents who discriminate against China in the international community.

A large part of the economies of Germany and Japan depend on the blood transfusion of the Chinese market in order to run smoothly.

However, these two countries, one and China are world enemies, desperately squeezing China's living space in Asia; The other is desperately trying to slander China in Europe. It is also the most assertive country in the EU against China, and the various economic sanctions and trade sanctions imposed by the EU on China are definitely Germany's proposals, and there is no need to think about the second country.

Poor Chinese people, after using high-quality industrial products from Germany, feel that Germans are good people.

Including the one who became the president of Germany by betraying his teacher. The woman of reason, with a group of presidents, came to China to ask for benefits, and after she returned, she began to actively promote trade barriers to China, which is simply a typical white-eyed wolf!

Xiao Qi knew more about Germany because he was abroad, so he was determined to teach Germany a lesson to a country with a beast's heart, and as for Japan, they were indispensable at all times.

Now that the opportunity has come, Xiao Qi has money in his hands, so he naturally wants to have a good haode.

In the afternoon, Xiao Qi took the confidentiality clause from Mario Law Firm, asked Tong Wencong to sign it, and then told him his plan.

Tong Wencong pondered for a long time, and said with some uncertainty: "Qi Shao, there is a time limit for short selling." According to your level of short selling, if there is no major crash in a year's time, I'm afraid we won't make any money! ”

"You just do what I do." Xiao Qi said lightly: "No matter whether you make money or lose money, the fund management fee I will give you will not be less." ”

"This ...... All right! ”

Tong Wencong is the president of CFP Fund Company, a small fund company that is everywhere on Wall Street, and he alone can decide whether the company cooperates or not.

According to the contract, Xiao Qi took out as much as 1.2 billion US dollars, and the handling fee extracted from it was as high as 50 million, and CFP would never miss this business.

But Tong Wencong is worthy of being a self-proclaimed kind-hearted person, and at the moment before signing the contract, he was still reminding Xiao Qi: "Qi Shao, although the subordinated debt has been in a dangerous situation in recent years, the strong economic strength of Wall Street in the United States still guarantees that the subordinated debt passes smoothly again and again, you must think about it!" ”

When he signed the contract, Xiao Qicai smiled slightly: "Mr. Tong, don't worry!" If you are interested, take out a little money and follow me into it, and you will definitely get a lot of money. ”

Tong Wencong shrugged his shoulders noncommittally and did not answer.

Xiao Qi has already written out Paulson's methods according to the memory of his previous life, as long as Tong Wencong follows Xiao Qi's steps, then there will be no problem.

However, Xiao Qi's methods are more subtle, and he makes a little less money than Paulson, and he will not be as high-profile as Paulson to announce his victory and be in the limelight.

Quietly make a fortune and pit people, as for the black cauldron, let others carry it!

This feeling of hiding behind the back and harming the enemy is really cool! (To be continued......)

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