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Text 226. Reasons for going to the United States (Part 2)

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    Li Zhong was completely speechless. I'm not studying finance. I can't understand these terms when you tell me. Can't you be more straightforward?  For example, what do you need from my hands?  CDS?  What is that?  "Louis, let's just tell me what I should do. To be honest, I don't understand what you're saying at all!" Li Chong said quickly when he saw what the white man was going to say. Listening to what he said again, this lunch would probably be over.  Can't eat it.  When Louis heard what Li Zhong said, he felt helpless. He had already negotiated this matter, and the remaining problems with the CDS in Li Zhong's hands were not that big. Who would have thought that such a big problem would arise just one month later?  The change would not have happened if it had not been for his carelessness.  JPMorgan Chase is a savings and investment bank, and of course it also does some housing loans, but its scale has never been large, let alone the insurance business, which was a piece of business that it had never touched before.  But since his immediate boss, the vice president of investment management, was about to retire two years ago, he had some thoughts.  After all, he has been at JPMorgan Chase for nearly twenty years. According to his contribution, his promotion to the position of director is already the limit. If he wants to go further, he will have to find another battlefield. This is when mortgage financial derivatives are at their craziest.  At that time, he issued a batch of CDOs (collateralized debt obligations) in the name of JPMorgan Chase with the acquiescence of senior management, and he was even more greedy and took over the CDS (credit default swap) of these CDOs (collateralized debt obligations).  At this time, CDO is the gold mine, and CDS is just the tip of the iceberg. A hair on the cow's body is just a back-up for him.  .  In this way, in the first half of the year, he earned a large amount of money for JPMorgan Chase, and the performance of the investment department was also amazing.  However, as the subprime mortgage crisis worsened, the CDOs he issued became cheaper and cheaper, while CDS grew rapidly.  If he had held the CDS himself, he would not have had such trouble. After all, he was greedy, so he secretly sold the CDS and bought the extra money in his own name.  This batch of CDOs issued by JPMorgan Chase.  Now it¡¯s time to repay the debt. Because of his greed, this batch of CDOs has depreciated greatly, while CDS has been continuously appreciating.  For the sake of his own status and for JPMorgan Chase to prevent competitors from taking advantage, he had no choice but to take back the CDS part into his own hands.  And what Li Zhong had in his hands happened to be this part.  He has already taken care of the bulk of this batch of CDS. Although it cost a little more, he can still accept it, so he is not too anxious about the remaining 30%.  At this time, his most important thing is to continue the repurchase of CDOs. After all, the value of CDOs in the market has depreciated significantly. They repurchase them at the regular price, which means they can make money and gain reputation.  As a result, as September approaches, the price of CDS on the market begins to rise crazily. Especially on the 7th, the US Federal Housing Finance Administration came forward to take over the two major companies Fannie Mae and Freddie Mac, which pushed the CDS on the market to the top.  A sky-high price.  At this time, Louis remembered that he should recycle the remaining 30% CDS. However, when he found the holders of this batch of CDS, he discovered a very big problem, that is, this batch of CDS had been frozen. He found  It is only the agent, not the owner. The agent can only handle assets below 100 million U.S. dollars. Now the CDS is worth 120 million U.S. dollars, which is three times higher than half a month ago.  Louis only knew that the owner of the CDS was a Korean, but he could not be contacted now, and no contact information was left. Even his classmates felt that he was no longer in this world. After all, he had never been in contact with him.  There has been no news from four years ago.  Just when he was worried, Larry came to him.  Time Warner and JPMorgan Chase are old partners, and Hollywood raises funds from the banking industry to film movies every year, so Larry and Louis are familiar with each other.  The reason why Larry came was because Li Zhong's classmate approached Time Warner to shoot a low-budget movie. They and his group took part of the funds for the shooting, and the rest was used in JPMorgan Chase's financial products. As a result, it is now gone.  Can't take it out.  Larry really doesn't care too much about this amount of money. His authority is that it can be relaxed if it is less than 30 million US dollars. Basically, he can make decisions at will, otherwise he will send the crew out before the filming funds are in place.  .  At this time, Larry also saw that Louis was a little anxious, so he asked about it. After all, they were old friends who had known each other for many years. Louis had supported him several times and raised funds for the movies he produced. Otherwise, Larry's status in Time Warner  It won't be this high.  Louis was also depressed at this time. Something that was originally very simple had become so complicated. Now he had a good friend who he could talk to, so he told Larry about this matter. The more Larry listened, the more he felt that Louis was talking about Li Chong.  , when classmate Li Chong found him, he thought that Li Chong knew that they were going to make a movie. He even thought that Li Chong wanted to enter Hollywood, but it was quite difficult for Asians to get in., except for one Bruce Lee who broke into the kung fu whirlwind, the rest Jackie Chan, Jet Li, and Chow Yun-fat did not have much success, let alone movie directors. Except for one Taiwanese Ang Lee who has made a name for himself in Hollywood, the rest are much more  Anything less is not safe.  Could it be that Li Zhong plans to try the waters with a low-budget movie?  "Um, Louis, you said you couldn't contact the Korean?" Larry asked curiously.  "Yeah, I tried every method I could find. None of his friends knew his contact information. The contact information left by New York University was also invalid. He seemed to have disappeared from the world." Louis was still posting.  Complain.  Larry thought something was wrong, "Louis, are you looking for a Korean named Steven Lee?" Lewis looked at Larry in surprise. Although he was complaining, he was still awake. Just now  He told Larry what happened, but he didn't mention his name. How did Larry know?  "Do you know this Steven Lee?" Louis asked.  Larry knew it was Li Zhong at the first glance and nodded, "Well, I know this Korean guy. I contacted him half a year ago and he bought me a movie script." "Ah, you know him? Still.  Can you contact him? Give me your contact information quickly" Louis had an unreal feeling. Things that had already wanted to give up and bear the consequences independently suddenly took a turn. As long as he could get the CDS in Steven's hand, he  The trouble is not trouble, as for the money?  Who cares, JP Morgan really doesn¡¯t care much about the money anyway.  ; ;
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