Chapter 173 The idea of subprime mortgages
The next morning, Locke arrives at the farm estate and says hello to Damon.
"Have you found anybody?"
"Of course." Damon nodded, "There were thirty-two of them, all of them caught."
"There are a lot of people." Locke smiled, the team of crooks that Jesse joined was a complete chain.
This is also shown in the movie, where at least seven or eight people gather in a secret base to sort out the stolen goods and cash obtained by various means, not including those who cooperate with the operation.
Damon told Locke in detail about the results of the overnight interrogation, Jesse was randomly looking for a target at the bar, and Barney, who was wearing a high-end custom suit, was naturally noticed, and the result was a series of events.
If it's just cash, watches, credit cards, and the like, Damon is really hard to track, and he can catch someone, thanks to the sports car that Barney lost.
Damon found the local car sales gang, only to target a few key members, and then found their stronghold and wiped them out.
"That Jesse started wandering the streets of New York as a teenager, and it was easy to spot Mr. Barney's lame stalking, and then ......
Damon shrugged his shoulders, these people are indeed veterans, and after discovering Barney, they quickly had a follow-up plan.
"Okay, bring these men to me." Locke said to Damon, "Such a person may not see the light, but he may be useful at some point."
Damon nodded, and since Locke had recently asked him to transfer the men he had received from Mexico to a mysterious person, he had guessed that Locke would probably not arrange for him to do some work against gangs in the future.
In other words, he will completely transform into a manager of a security company.
This is actually not a bad thing, after all, no one will choose to do those things that are not light.
In the parlor of the farm, Locke meets the core members of the gang, Jesse and Nick are familiar faces, as well as the fat man with messy hair, Farder, an expert in credit cards.
Since his appearance can't make him the protagonist, he can only rely on his ability to eat.
"I think one night is enough to give you some insight into me." Locke smiled at the threesome.
"That's right, Mr. Rock Lee, the hottest billionaire in New York right now, and although you've kept a low profile, I've heard a lot of rumors about you on some occasions." Nick said.
"So what do you think someone like me would do to someone like me who cheated my friend?"
Locke gave Damon a look as he spoke, and Damon knowingly pulled out his gun, clicked on the safe, and aimed it at the back of Nick's head.
"Sir, please give me five minutes." Nick hurriedly said, "I have an idea, if you are not satisfied after listening to it, I am willing to take them to your friend to apologize."
"No problem, I'm not in a hurry." Locke looked at Nick for a long time.
Nick hesitated for a moment and looked at Jesse and Farder, "Sorry, what I'm going to say next involves a secret from one of my brothers, so please give me a little personal time."
Jesse and Felder didn't react much, after all, although they are collaborators on a team, there is no real life-and-death friendship between liars.
With that, Nick looked at Locke.
"Yes, Damon will take two friends on a tour of the manor." Locke said.
"Okay." Damon nodded and took Jesse and Fald with him.
"So what exactly are you trying to say?" After the two of them left the reception room, Locke poured two cups of tea from the teapot, pushed one to Nick, and asked.
"Thank you." Seeing this, Nick felt a little more confident in his heart, it seems that although Locke was born in Texas, he obviously did not have the habit of discriminating against blacks there.
"Sir, I don't know if you've heard of Gary Bernard and Joel." Nick asked.
"Of course I've heard of the two of them, they did a great deal in Texas more than twenty years ago." Locke
said, "Do you have something to do with them?"
The two men mentioned by Nick reminded Rock of a movie he had seen before called The Banker, in which the main character was Gary Bernard.
He was born black in Texas, and with the money he had saved, he worked with another black man, Joel, in California, and made a fortune in real estate, and then after a visit back to Texas, he came up with the idea of helping his fellow black people.
So he arranged for a white man to be the representative, bought a bank, and provided loans to those fellow blacks so that they could buy houses in good neighborhoods.
At first, it went well, but then something went wrong, and the white representative wanted his own business, not a puppet, and encouraged the two to buy a second bank under his control again.
But in the end, the white representative messed up, the bank's loan account went wrong, and the federal agencies began to intervene, and the two blacks bought the bank and it was exposed.
At the time, such things were not allowed by unspoken rules, especially in more conservative Texas.
The incident caused a lot of repercussions, and because of the bank accounts, Gary and Joel were both imprisoned for three years and had their entire property confiscated.
"You have a relationship with them?" Locke didn't expect Nick to have a relationship with the two of them, but the focus movie didn't say anything about Nick's specific origins.
"Something to do with their son, Garrett, to be exact." Nick said: "After what happened, Mr. Bernard and Mr. Joel left the United States.
But 10 years ago, they made money and came back here, to New York, and it gave me the opportunity to meet Mr. Bernard's son, Garrett, who helped me a lot.
Now Garrett wants to develop in real estate, but due to financial problems, he has not been able to do so, and his idea is this......
After listening to Nick, Locke said in his heart Isn't this a subprime loan, this thing is not new now, and it is something that brought about the subprime mortgage crisis more than ten years later, but if you really want to calculate it, this thing does have the potential to make a fortune.
Use the bank to issue loans, and then you can package and sell the subprime mortgage contract to Wall Street according to the high-quality 3 percent and the subprime loan 7 percent.
In this way, banks can not only earn interest on loans from high-quality customers, but also develop a large number of borrowers with poor credit and low incomes to become customers.
You can even get back the money you lent out of Wall Street quickly, and earn another fee by the way.
This is like many financial games, which are essentially just beating the drum and passing the flowers, and as long as you don't become the last one to take over, you won't have anything to lose.
However, this kind of thing is not suitable for Locke to do by himself, it is too cumbersome, and at the same time, in case of a thunderstorm in the future, it may also bring some trouble.
The thoughtful guy introduced by Nick may be the best candidate, and the reason why the subprime mortgage can't be sustained, in addition to playing too much, the important point is that the house price is no longer rising.
As long as you pay more attention to yourself, it is not a problem to detect the danger in advance and exit, but it is not certain whether this guy can resist the temptation and quit at that time.
In the face of greed, too many smart people have fallen into the sand.
"Your friend is a very ambitious man, just like his father." Locke thought for a moment and said, "He wants to work for me?"
"He's been looking for a partner, to be exact." Nick said cautiously.
"I'll arrange for someone to talk to him about, and the next thing I'm going to talk about is your problem." Locke said slowly:
"I have a sum of cash in hand, you can choose a few trustworthy ones in your team, and follow my request, take the money to go around in circles.
If it's done well, forget about it this time, and there will be a bonus, but don't touch your current business in the future."
The money Locke said was the cash of the Cordis family, because he had been busy with the pound crisis, and for such a long time, Locke had only laundered some of the money and gold, and most of it was used to pay Damon to them.
There is $100 million in cash remaining
, Locke is ready to invest in the eastern country and buy some fixed properties in advance, as for Nick and these people, Locke contacted Catalia, and she watched, not afraid that Nick had any thoughts.
It's not that Locke looks down on Nick and them, the liar is not an outlaw after all, and Catalia's mind is delicate enough to deal with them enough.
Nick heard it now, Locke was planning to let himself work with him, and agreed without hesitation.
For people like them, having a backer, even if something goes wrong and goes to jail, can reduce the sentence to the greatest extent, which is a good thing that many peers can't ask for.
And at this time, he couldn't help but agree.