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Text Chapter 446 Escape Plan

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    Since housing prices in the United States have remained high, this kind of fund has also attracted various pension funds, education funds, financial products, and even banks from other countries to purchase it.

    So far, lending companies, investment banks, hedge funds, insurance companies, and other financial investment institutions have all been involved in the subprime mortgage crisis.

    In the entire subprime loan interest chain, as long as the U.S. real estate market remains prosperous and housing prices continue to rise, all entities in the chain will be able to enjoy the benefits brought about by rising housing prices.  However, as the Federal Reserve continues to raise interest rates and the real estate market continues to decline, the repayment pressure on subprime borrowers has gradually increased, and the proportion of borrowers defaulting has continued to increase. As a result, the interest chain of subprime loans has begun to break from the source.  Loan risks also spread along this chain, gradually transferred from real estate financial institutions to institutional investors in the capital market.

    In July 2007, two hedge funds owned by Bear Stearns in the United States were on the verge of collapse; in August 2007, Australia's Macquarie Bank announced that two of its high-yield funds were facing 25% losses; France's largest bank, BNP Paribas, also announced a temporary suspension  With the redemptions of three of its hedge funds, most stock indexes around the world plummeted, and the U.S. subprime loan crisis spread to other countries.

    Market failure has brought the world economy to the brink of collapse, and the concerted actions of governments around the world to prevent the outbreak of the crisis also demonstrate the seriousness of the problem.

    When authoritative economic figures blamed Bernanke¡¯s predecessor, Alan Greenspan, for the subprime financial crisis that had broken out, people discovered that the source of the crisis did not come from economic development itself, but from government failure.  This just shows that market failure is not caused by the market.

    Human beings grow up in rationality, but rationality is only limited to a certain period of time, not forever.  Economists' admiration for Greenspan reached its peak every time he saved the United States and the global economy.  Now, when the economic crisis comes again.  Reason tells economists that Greenspan is not a god, but an old child who makes mistakes.

    Whether it was the financial crisis that occurred after the middle of the last century or the financial crisis at the beginning of this century, the Federal Reserve and other Western countries worked together to resolve the expansion of the crisis and restore the stability of world economic growth with the help of currency depreciation, capital injection, and interest rate cuts.  However, this crisis may cause governments around the world to not behave as expected in the past, because the background of this crisis is different from the financial crises of any era in the past.

    By defining this difference, we understand the root cause of this unprecedented economic crisis.  The occurrence of any economic crisis requires a process.  This crisis will also have its own course.

    As the crisis deepens, the rescue actions of various governments will delay the process of the crisis.  In the process of falling global housing prices, especially the inflated housing prices in the United States, it will take time for the economy to decline.  Judging from existing historical crisis experience, this time takes about three to six months.

    The "subprime mortgage crisis" in the United States began to gradually emerge in the spring of 2006.  In August 2007, it began to sweep through the world's major financial markets such as the United States, the European Union, and Japan.  It's already October 2005, so count the seconds.  Jiang Feng must have gradually withdrawn most of his funds before 2007. At this time, Xiao Yongyin came to talk to him on behalf of the senior management, which gave him an honest excuse to withdraw from Hong Kong stocks, and he did not need to worry about Hong Kong financial institutions.  The Authority will adjust financial policies based on what changes have occurred.

    So Jiang Feng said to Xiao Yongyin: "Since the senior management does not want me to get involved too deeply in the Hong Kong stock market, it is okay to withdraw, so okay. I will withdraw more than 20 billion US dollars before November."

    Xiao Yongyin was drinking. After hearing Jiang Feng's words, he spit out a mouthful of wine and coughed several times before he recovered.  He said anxiously: "You are not trying to anger me, are you? How many days are there until November? More than 20 billion US dollars have been withdrawn in such a short period of time. How much impact will you have on the Hong Kong stock market?!"

    "Then what's your attitude? You want me to stay inside? My losses will be great!" Jiang Feng said displeased.

    Seeing that Jiang Feng was quite complaining, Xiao Yongyin also hesitated.  So he waved to the person next to him, and then introduced to Jiang Feng: "This is Charlie Day, senior adviser to the Hong Kong Monetary Authority. He came here specifically to discuss this matter. Let him talk to you. He's so professional.  I don¡¯t understand the stuff.¡±

    Charlie Day?  Jiang Feng smiled inwardly, shook hands with the other party, and then asked, "What suggestions does Mr. Dai have?"

    Since Charlie Day is a senior adviser to the Hong Kong Monetary Authority, he naturally has some ideas about this matter. Considering that Jiang Feng would not be willing to sacrifice his own interests, he made suggestions: "The Authority hopes that Mr. Jiang can maintain order."  Withdrawing from the Hong Kong market, in order not to have a great impact on the Hong Kong stock market, I hope that Mr. Jiang will gradually control the stocks in his hands within a year.Carry out holding reduction.  "

    "In fact, Hong Kong is also worried that Jiang Feng's sudden withdrawal of capital in a rage will be too damaging to Hong Kong stocks. It exceeds 20 billion U.S. dollars. Coupled with the leverage increase, this amount of funds has exceeded 50 billion U.S. dollars.  Now that the two parties have started talking, they can reach a consensus and properly resolve the matter.

    Seeing Jiang Feng's hesitant look, Charlie Day said: "The current trend of the Hong Kong stock market is just right, with a steady rise. If Mr. Jiang withdraws his capital within a year, he will definitely not suffer any losses, and he can even make some profits. This is also  Our sincerity.¡±

    "In that case, I can't say anything else." Jiang Feng thought about it for a moment, then raised his head and smiled, "Let's do this, from now on, we will withdraw two billion US dollars a month, and by next New Year's Day,  How about withdrawing all the funds?¡±

    After hearing this, Charlie Dai felt that although it was different from the one-year deadline, it was only two more months. The most important thing was that Jiang Feng was willing to cooperate. This was the first priority. Even if his task was completed,  , so he agreed.

    Jiang Feng also found the company executives of the Jiang Group who were responsible for this business, and had a phone call with Qu Tingshao, asking him to select stocks to be withdrawn from the market and reduce his holdings in an orderly manner.

    After finishing all this, Charlie Day was very happy and expressed that the Hong Kong Monetary Authority was very grateful to Mr. Jiang for his cooperation and extended an invitation to Jiang Feng to attend the celebration ceremony for the tenth year of Hong Kong's return to China.

    "I will definitely go there. I may have to bring a few people there, which will be quite annoying." Jiang Feng said with a smile, "In order to celebrate the tenth year of Hong Kong's return, I bought a few villas on Hong Kong Island. This  There shouldn¡¯t be any need to return it, right?¡±

    "Wherever, if Mr. Jiang is willing to develop in Hong Kong, we are the most welcoming. We are just worried that you will follow Typhoon's example and leave after passing by." Charlie Dai immediately expressed his attitude.

    In fact, if Jiang Feng really planned to take root in Hong Kong for construction and development, it would be too late for them to be happy. How could they expel people?  But making money in the stock market is different. That means taking meat from other people's pots, and you will be hated by others.

    After sending away Charlie Day and other relevant people from the Financial Management Bureau, Xiao Yongyin said to Jiang Feng: "To be honest, I didn't want to come this time. I took this job because I had no other choice."

    Xiao Yongyin is also very critical of the snobbish forces in Hong Kong. He feels that the policies of the senior officials towards them are a bit too lax. This kind of practice is obviously for self-interest and harms the interests of others, which is disgusting.

    Jiang Feng smiled and said: "When doing business, you have to take care of your own territory. The dragons crossing the river are naturally strong, but now that the land tigers suddenly have a backer, they must make good use of it."

    Everyone is just using each other. Mainland officials hope that Hong Kong's political situation will be stable and the economy will be stable, so they need the active cooperation of the major families, so they have to take care of their interests. And the major families are proud of their favor. With this good opportunity,  How could it be possible for a businessman not to take advantage of opportunities to make money?

    In fact, it doesn't matter even if Jiang Feng doesn't agree to this matter. If the major families join forces to short-sell, it will be nothing more than a loss for all. The losses can still be made up through other ways, but it is just a waste.  This is a great opportunity.

    You must know that the time and energy required to gather popularity in the stock market is very rare. It will take a long time to suppress the market and then raise it again. The major families are not in the mood to waste time, so they can  Reaching a settlement with Jiang Feng is the best outcome.

    It seems that Jiang Feng still gives them face, to be precise, he gives face to the high-ranking officials in the mainland.

    But for Jiang Feng, isn¡¯t this a good opportunity?  If you withdraw your capital by yourself, someone will automatically cover you. With someone to take over, it will be much easier to withdraw.

    Since you have already made money, why do you have to wait until the crash to exit?

    "It's not good for you to always monitor me." Jiang Feng was still dissatisfied with Xiao Yongyin.

    Xiao Yongyin shrugged his shoulders and said: "You think I am willing? As important figures and public figures, you basically have no freedom and privacy at all!"

    The work of the Ministry of National Security is inseparable from surveillance and secret investigation, which also includes infiltration and espionage activities. For the sake of national security, some necessary and shady means can be used to achieve the goal. This is also an internationally recognized practice.

    Therefore, when Jiang Feng raised this issue directly, Xiao Yongyin didn't show any embarrassment at all. Instead, he continued to eat with peace of mind. Jiang Feng's teeth were itchy, but he couldn't find anything wrong with it.
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