As an enclave of the Americacan in East Asia, Goryeo's economy was deeply controlled by the Americacan.

In the earliest days, everyone was poor and white, where did Goryeo get the money to complete the initial industrialization accumulation? China relied on the dual structure of urban and rural areas, and exploited peasant groups internally to achieve industrial primitive accumulation.

Goryeo could only rely on the capital of the American, which controlled the country from the economy to the military.

Goryeo's financial companies didn't care at all about what they did with the money to Ameriken's fund company, so much so that they waited for the Field Sentree Hedging Fund to take the initiative to tell the news of the Madoff thunderstorm to the financial institutions in Goryeo, and they learned that the so-called hedge fund they had purchased actually had hedge funds as underlying assets.

Hedge funds and hedging are two different things.

Korea Life Insurance faced heavy losses, and during the interview, Smecta and Smecta kept apologizing, but this did not help them recover the losses.

Goryeo's financial institutions knew that there was a high probability that they would not get back a penny of their money.

Because the remaining principal of Madoff's Ponzi scheme must first repay America's own financial institutions, then America's own investors, and finally these overseas investment institutions, and the priority of Korean financial institutions is still behind neon.

It's no wonder that this can get the principal back.

Of course, Madoff also cracked down on a large number of charitable foundations in American itself, especially those run by Jews.

The Boston-based Robert Lapin Charitable Foundation primarily sponsors young Jewish people traveling to Israel.

The charity's operating funds are used entirely to invest in Madoff's funds.

"The funds needed for the Charity Project of the Lapping Foundation have evaporated," so much so that the foundation directly posted an announcement on its official website: "The staff of the foundation has been dismissed today." ”

At the same time, some charitable foundations of the Ameriken family, which also suffered huge losses.

To put it simply, it is precisely because the basket that Madoff poked was too big and affected the interests of too many people that he had to be severely punished, if he hadn't stabbed the basket too big, he would have paid the fine in his capacity.

"Who is worse than me? I doubled my leveraged investment in Madoff, and tomorrow the bank will come and take possession of my house.

The redeem button on Baidu is still gray. ”

"It's really, the thing I regret the most in my life is to join the so-called rich circle.

When I was at the Oak Ridge Club, where a bunch of wealthy people were playing golf, everyone thought of Madoff as a legend and said that if he had been a liar, he could have pulled half the world out of the water.

As a result, the joke came true, and even more exaggerated, and he dragged people all over the world into the water.

If I hadn't been to the Oak Ridge Club, I wouldn't have put my cash on the goddamn hedge fund. ”

Whether it is the media or individuals, in order to achieve their own goals, they always like to tell you some specious opinions, which sounds a little reasonable, but in fact, it is not the right thing to say.

Real estate agents will try to tell you that it's time to buy a house, interpret any market turmoil as a rise in housing prices, and even if everyone knows that the real estate bubble can't be sustained, they will create new concepts to brainwash you, what structured market, what core assets in first- and second-tier cities will rise.

Then take the pitiful number of luxury housing transactions in first- and second-tier cities to talk about things, saying that the cognition of the rich is not stronger than that of the rich?

The problem is that if the cognition of the rich is really strong, it will not be as if the trust is thunderous, and the investment in Boss Jia is mostly the rich stepping on the pit. In China's high-growth environment in the past 30 years, most of the rich people's money does not come from higher cognition, but from stepping on the wind of the times.

Not to mention the expert media in the stock market, the index will fall by 1% at will, 3,000 points 20 years ago, and 3,000 points 20 years later.

In fact, the big A has no bottom at all, the 3,000 points 20 years ago and the current 3,000 points are not the same thing at all, how many times has the total market value of the Huaguo securities market increased? The total market capitalization has increased from 4 trillion in 2003 to 75 trillion in 2023.

Madoff made the summer so cold that countless middle-class people lost hope.

There are also many rich people who have suffered huge losses.

"It's hard for us to believe this fact, and I myself have suffered a great deal in this disaster." Mel Kim tweeted.

He stopped talking and was going to be hunted down by customers, a former CEO of a financial institution owned by General Motors and a partner at Ascot Securities, which took all its assets to work with Madoff.

This puts all of its clients at risk of zeroing out their investments, so one client has issued a chase warrant, claiming to kill him.

Melkin was forced to come out and announce his losses in an attempt to gain sympathy from his clients.

For a while, it was a bit of a global heat, whether you are middle-class or rich, everyone has fallen into this pit.

"Senior brother, our family Lao Li needs your help now, the federal side took him away last week, and the lawyer went to meet him twice, and the reply to us was very unoptimistic."

Robin's wife and Zhou Xin also knew each other, and came to Zhou Xin for help after Robin was arrested.

Because when the lawyer took her to see Robin before, Robin asked her to find Zhou Xin.

Robin is also a Silicon Valley upstart, who has been in charge of Baidu for many years, has some knowledge of American's political situation, and he has a lot of Internet traffic at his disposal, so he can deal with Washington to some extent.

Robin believes that Zhou Xin has a huge network in Washington, and is the only person who has the ability and willingness to save him.

Another very important point is character, Zhou Xin, as a major shareholder of Baidu for many years, has never cheated him, and he has been his supporter on the board of directors all year round, at least he abstained.

Zhou Xin was a little surprised when he received the call: "What's the matter?" I didn't see the news that Robin was arrested, did I? ”

To be honest, this is counterintuitive, Baidu is nothing more than providing a purchase channel. Logically speaking, Baidu Pay has greatly expanded Madoff's sphere of influence, which is obviously guilty.

But from the legal level, this is a matter of the company's operation, if this has to be arrested, then will the CEOs of other electronic payment software have to go in?

Robin's wife was very calm on the other end of the phone and told Zhou Xin the ins and outs of the matter.

George Reyes has pleaded guilty, admitting that he had accepted huge bribes from Madoff, and that he had deliberately relaxed the risk control of Madoff's hedge fund, or even no supervision.

The federal authorities believe that Robin was also involved in the incident, and there is a suspicion of deliberate connivance.

The District Court of California has been in control of Robin, and some have even suggested that Robin pleads guilty and is imprisoned for up to two years, and if he does not plead guilty, there is no guarantee of what will happen.

Robin wanted to listen to Zhou Xin's opinion in the name of his wife.

After listening to this, Zhou Xin said: "Sister-in-law, don't worry, I'll find someone to ask what the specific situation is."

I don't think you can plead guilty, isn't it more passive to plead guilty and be locked up for two years?

Robin is also a figure with a face in Ameriken, didn't Robin join the 100 before that? Ask them if there's anything you can do.

Then my advice is to find the best lawyer to fight the case, and at the same time be prepared to pay a huge bail, and plead guilty must be the next policy. ”

From Zhou Xin's point of view, Robin and his wife are extremely controlling, and then the management level is not good, and Baidu's development in their hands is far inferior to the original Google.

Larry Page and Sergei Brin are still working at the newly merged Baidu, but Baidu has still become a profit-seeking company, with impressive earnings and rapid growth, but no progress in the mobile Internet era.

Not to mention that Android has been acquired by Xinxin, Baidu doesn't even have the idea of engaging in a mobile phone operating system.

Zhou Xin just gave some suggestions lightly, and he wouldn't make too much effort to get people out, and he had an ambiguous attitude about whether Robin needed to stay in for a while.

After making the phone call, Zhou Xin somewhat touched what Ameriken wanted to do, to put it bluntly, this matter was too big, Madoff's sacrifice flag was not enough, and another big man had to come out.

A Silicon Valley upstart like Robin, who is Chinese and has no background, is deeply related to this matter, and this is the best person to take the blame.

"Robin was arrested, and prosecutors allege that Robin caused huge losses by manipulating Internet traffic to the Madoff hedge fund's unusually large number of clients"

It wasn't long before the news of Robin's arrest was made public as the middle class of America launched the Occupy Wall Street movement.

"Baidu is the most damned, no matter what financial-related content I search, he can give me pop-up ads for the Madoff Wealth Management Fund!"

"If I hadn't read the ads in Baidu's search engine, I wouldn't have bought Madoff's financial products, and I wouldn't have been on the verge of bankruptcy!"

"Catch it well, compared with NewPay, Baidu not only has no morality but also has no bottom line."

"Baidu is the biggest culprit that made this disaster grow from a magnitude 7 earthquake to a magnitude 9 earthquake!"

On social media, no one cares about the earliest electronic payment software that sells Madoff's financial products

With the thunderstorm of Madoff, almost all electronic payment software has entered a cold winter state in an instant.

Take Baidu Pay as an example, their user activity has decreased from 10 million to 100,000 in a week.

Not to mention other electronic payment software, NewPay is regaining the entire market at an incredible rate.

"That's right, our insistence is correct, in the past five years, we have insisted on not cooperating with Madoff, standing in the perspective of the past, seriously affecting the interests of investors, in fact, it is difficult to persevere." Peter Thiel said in an interview with Time magazine.

This month's Time magazine features Madoff on the cover, and it also features an op-ed by Peter Thiel.

"Yes, you're right, Madoff's fraud has swept the world, England, France, Switzerland, Spain, Neon, Goryeo, etc., a large number of financial institutions hold Madoff's wealth management products.

According to our information, more than 90 percent of companies in Geneva have investments in the Madoff hedge fund.

We don't have it because we are a channel, not a financial institution, we don't help customers manage their wealth, we are just a bridge between customers and financial institutions.

In order to be responsible for the trust of our customers, we have carried out strict risk control on the product side. ”

The stark contrast between NewPay and other electronic payments simply blows up the favorability.

By late August, a month after the Madoff fraud case was made public, NewPay had monopolized the entire electronic payment market, with a market share of 80% and the rest adding up to 5%.

So much so that eBay and Amazon have announced the dissolution of the electronic payment department and will withdraw from this field.

Citigroup and Phu Fargo's electronic payment divisions are also on the fast track to dissolution.

Zhouxin's electronic payment software occupies the entire market.

"Why was NewPay able to escape the Madoff trap?"

The question quickly went viral after it was raised on Quora and became the most popular question of the day.

"In my opinion, the most important thing is positioning, Newman's positioning of NewPay is accurate, which is the most critical element that leads NewPay to resist temptation.

First of all, if NewPay hadn't resisted the temptation to work with Madoff, I think the amount of losses would have at least doubled.

From the point of view of investors. The majority of these investments are made up of institutional investors, including some well-known financial institutions and well-known Wall Street investors. The middle class is just a large enough investor, and it is nothing in terms of the amount of investment.

The losses of a large number of financial institutions familiar with the investment have shocked people who do not take the risks of this investment seriously. All of them didn't pay attention to the risks of it!

Because of the institution's trust in Madoff, absolute trust. We can have absolute trust in a financial product, but there is one condition, and that is that it has enough transparency.

But Madoff will kick those who interrogate out. According to my internal information, neither Baidu nor Baidu wanted to understand Madoff's underlying products in the process of cooperating with Madoff.

Maybe they ignored it, maybe they deliberately hid this, judging from the prosecution's indictment of Baidu, it was the latter.

Also as an electronic payment institution, as an Internet financial channel, Newman's positioning of NewPay is the channel, and it is the largest channel, which is the channel for the majority of customers who do not know how to invest.

So they have taken extremely strict measures on the risk side, I have friends who work at NewPay, they have always wanted to cooperate with Madoff, but NewPay must require Madoff to give a detailed list of investments, and require real-time understanding of the underlying operation mode of Madoff's financial products through system docking.

When NewPay's internal board of directors is meeting, Newman will only ask the directors and representatives, who can convince Madoff to accept this condition, if so, NewPay can reduce the commission.

As a result, Madoff, who played the Ponzi scheme, could not accept NewPay's conditions and chose to cooperate with Baidu instead. ”

The crows don't want to complain about the big A, and all kinds of magical operations put the want to cut leeks directly on the surface without concealment.

(End of chapter)