"That's too much. You shouldn't put on a show like this. Just go for a day or two. There's no reason to stay for a few months!" Rector Morgan was very depressed. He felt like he had punched the air.
After all, Rector Morgan had tried his best to prepare such a rich package for Boss Jia, but Boss Jia didn't care at all. He didn't even know about it, which was very uncomfortable.
"No, this must be the Daqian's strategy. They want to deal with it by pretending not to know!" Rector Morgan found a reason for the Daqian, but in fact, this reason was a bit unreasonable.
After all, even if they pretended to ignore it, they should find a way to solve the problem. There was no reason to deal with it like this.
After all, every day the Daqian delayed was likely to lead to more serious losses.
Now more than a year had passed, and more than half of the Daqian's power stations hadn't been started at all. Weren't they anxious?
Rector Morgan decided to step up the fight and make the Daqian feel more pressure. At that time, he wouldn't be afraid that the Daqian and Jia Yapeng wouldn't come out to deal with the crisis.
So at the beginning of August, various crises followed one after another. There was even big news that the United States Congress intended to ban electric cars again because of the huge protests in the domestic oil industry. Anyway, the whole situation was very bad for the Daqian.
But at the same time, Rector Morgan also ordered that as long as the Daqian solved the problem, he shouldn't make things too difficult for the other party. Let the other party spend a month or two to solve the problem. Anyway, he couldn't really let the Daqian break his wrist.
Rector Morgan carefully dealt with the Daqian's affairs, but on August 8th, Rector Morgan had to be distracted to deal with other problems. That was, Freddie Mac and Fannie Mae announced almost at the same time that the company was in a state of unoperability and could close down at any time.
As early as July, Freddie Mac and Fannie Mae announced in their quarterly reports that both companies lost 70 billion US dollars, for a total of 140 billion US dollars.
It was no wonder that the two families were evenly matched. Even the number of losses was exactly the same.
As soon as the two annual reports were released, Freddie Mac and Freddie Mac's share prices plummeted. On August 8th, the two companies announced that they could no longer operate normally. On the other hand, the international credit rating agencies lowered their credit ratings to the lowest point. The two companies' share prices plummeted again.
In fact, Rector Morgan had foreseen this incident for a long time. Rector Morgan even pushed it a little. But Rector Morgan's purpose was very simple. He wanted to use this crisis to short Freddie Mac and Freddie Mac's shares, so that the Morgan Consortium could make a lot of money from the middle.
Of course, Rector Morgan also knew that this might cause a big crisis to the economy of the United States, but the same crisis had happened countless times before. Rector Morgan felt that this might be just a subprime mortgage crisis at most. The interests of a small number of people would be damaged, but Rector Morgan himself never thought that this crisis would evolve to such a terrifying extent.
Here, it was necessary to explain the origin of this subprime mortgage crisis.
There were two explanations for the subprime mortgage crisis. One was that subprime was a defective product. This was a loan with low credit and low repayment ability. The other was that subprime was a crisis caused by the subprime products of the loan.
Looking at the entire process of the outbreak of the crisis, these two explanations were reliable and included part of the crisis. The combination of these two explanations was the most complete explanation.
In the United States, consumer loans were a very common phenomenon, and the main loan that caused the subprime mortgage crisis was housing loans.
People in the United States basically did not buy a house in full, and they did not have the money to buy a house in full, so they could only rely on loans to buy a house.
In Hua Xia, if someone wanted to buy a house with a loan, then the bank would definitely ask the buyer to provide his own bank flow to prove that he was able to repay the loan every month. The loan provided to such a buyer was a high-quality loan, also known as a prime loan.
On the contrary, if a buyer could not provide enough bank flow, but the bank still felt that he might be able to repay the loan, so the bank still approved a loan for him, then such a loan was called a subprime loan.
This corresponded to the first explanation.
Generally speaking, the issuance of subprime loans was very cautious. The bank must make a more comprehensive investigation of the lender to prove that the lender had a high probability of being able to repay the loan in the future.
However, with the beginning of 2000, the economy of the United States began to continue to improve. Many loan companies found that as long as they could lend money, it was a huge fortune.
Some people may feel strange. Wasn't it Boss Jia who caused the dotcom bubble crisis in 2000? Why did subprime loans become popular?
This question was actually on point. First of all, the dotcom crisis in 2000 mainly affected the dotcom companies. Other physical industries, especially the real estate industry, were not affected.
On the contrary, with the collapse of the dotcom bubble, many people suddenly felt that the dotcom industry was unreliable. The physical industry was more reliable, especially the real estate industry.
Therefore, investing in real estate became the choice of many people. Whether they had money or not, everyone wanted to buy a house because once they bought a house, the house would inevitably appreciate, and the profit brought by the appreciation of the house would far exceed the interest of the loan. In this way, it was a business with no loss. Therefore, no matter whether they were poor or rich, they could not refuse such a business.
Similarly, the various loan institutions could not refuse such a business. There was even a rule in the stock market that if a loan institution announced high loan data … No matter whether the loan was a high-quality loan or a subprime loan, as long as there was a lot of money, the stock of this loan institution would soar.
Therefore, almost all the loan institutions began to relax the investigation of subprime loans. In the later period, many loan institutions simply stopped investigating. As long as someone wanted a loan, they would immediately approve it without hesitation.
Finally, after a while, many loan institutions began to attract people everywhere. Through various activities, delivery of products, and the like, they took the initiative to invite various people to come to their institutions for loans to buy houses.
At that time, there was such a joke. There were three salesmen from loan institutions who competed with their ability.
One salesman pulled three people to apply for loans in a day. Others were very surprised and asked him how he did it. He said that he pulled all his relatives who had not applied for loans in a day.
The second salesman expressed disdain because he pulled ten people to apply for loans because he pulled all his friends who did not have a house.
But the real miracle was the third salesman. He pulled 50 people to apply for loans in a day because he pulled all the homeless people on the street.
The most amazing thing was that these people had all applied for loans and happily bought houses.
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