Chapter 1240 How Many Boxes Do You Plan to Open?

For William White, what he has seen and heard these days has indeed somewhat subverted his understanding. It turns out that this is how rich people play!

However, don’t you feel that there are dangers lurking around you?

Classes exist objectively, but if one can get down but cannot get up, sooner or later this stagnant class will become rotten.

The economy cannot collapse. The Federal Reserve's proposal to rescue Brazil has just been released. Then, Peanutton mentioned the old story again. In order to make the United States greater, everyone should have a decent home.

Either it's a coincidence, or it's God's will. Coincidentally, the big rabbit across the Pacific Ocean also took a fancy to this weapon.

"Gradually relaxing credit? Is this possible?" William White shrugged, swung the club easily, and a small white ball staggered directly into the ditch.

"Shit, Warren, what did you just say?"

Seeing this guy getting angry, Buffett didn't care. In fact, he thought the guy was just showing off. White Bank, was not keen on subprime mortgages, in fact they preferred jumbo financing.

Obviously, the old guy was wrong. It is one thing that White Bank is not enthusiastic. What it means from a policy level to relax credit ratings is another thing entirely.

The United States is a contract-based society, so how to evaluate a person's credit rating has become a top priority.

FICO is an American credit rating company. If an individual needs to deal with a bank, this score is a very important indicator.

The maximum score is 850. If it reaches or is close to this value, you will definitely get a very favorable condition when you go to the bank to get a loan.

A score of 620 is used as a watershed. If it is lower than this score, it will be difficult for you to get a loan. Even if you can, the interest rate will increase by 2 percentage points. Over the years, this scoring system has actually been good. For bankers, it has indeed reduced their operational risks.

What did Buffett just say?

They plan to adjust accordingly.

Damn it, if you do this, the bank's bad debts will increase significantly. Are you really sure that this is a good idea?

"Ahem, William, affected by the Asian financial crisis, banks have reduced subprime mortgage lending. You know, the number of new home constructions has declined for two consecutive quarters."

"Ha, you can't tell me this. I won't object, but I won't implement it either.

I will ask the think tank to recalculate it. If you say that high-quality loans are high-quality, I will not admit it. "

Buffett sighed secretly. He finally figured it out. William White's risk aversion is increasing. Let alone subprime loans. If you plan to change this scoring standard, he will not even agree with high-quality loans.

So, the role that the Federal Reserve can play by opening the floodgates and releasing water is bound to be greatly reduced. The truth is obvious. There are definitely not a few banks that think like this guy.

William White looked at Buffett, he was actually a little angry. You bastards, do you know how big a trap subprime loans are? If something goes wrong with high-quality loans, why don't you continue to mess around?

"Warren, don't they think that appropriate tax cuts would actually be more effective.

In other words, the Fed can cut interest rates again. "

"Tax cuts?" Buffett was speechless and choked. If you don't look at what Lao Ke has done, it will be impossible for the United States to have a fiscal surplus for a long time to come.

"Well, when I didn't say what about medical insurance, I can only say that the current tax system is simply unsustainable."

Buffett smiled and said nothing, and began to fiddle with his club. Even if William White fell into the ditch, he would still be at least five strokes ahead of him. This is what makes him depressed, or what makes many people depressed.

Long-Term Capital made one small mistake and fell apart as a result. If Tiger Management had not liquidated its positions in time, it would be basically dead now.

Look at the arrogant bastard opposite, he does have arrogance.

It doesn't matter if he loses, as long as he doesn't lose all the time, no one can do anything to him.

Others are converting entities into virtual entities and try to reduce heavy asset allocation. As for him, it was obvious that he had already planned to give up as soon as it was good.

You see, I have stopped gambling, how could I still lose? But you old guys, it's best to take it easy. If this guy takes a chance, don't worry, you will die worse than a pig.

William White naturally understands the tricks of these bastards. The current market situation is not good, and it is useless to promote subprime loans. No bank dares to take the plunge.

So, first relax the rating of prime loans. Let some people who are not qualified for loans become high-quality loans. When the economy picks up, then we can make the next step.

The bank only needs to lend the money and the rest is easy. Due to the thorough securitization in the United States, these high-quality loans eventually turned into bonds and circulated among banks again.

The economy is good and it's a good idea. The money actually held by banks far exceeds the actual deposits.

just in case……

Then let's die together, the bank will be in trouble, and the guarantee company will be in trouble. If it's more serious, the insurance company will also pounce. William White cursed, you bastards, this is the kidnapping of Hongguoguo.

The excessive issuance of currency is already a disaster. The Federal Reserve Bank of America believes that this is not enough. The money printed must be used more to be appreciated. If you all throw it into the bank, why would it print so much money?

Personal credit rating doesn’t seem to be a big deal, right? Is it so exaggerated?

As I said before, the United States is a contract society, that is, a credit society. Did you know that improving this rating is actually the same as a certain Alipay’s Zhima rating?

The higher the score, the better credit rating you get, which allows you to get lower loans and get more money.

If you don’t buy a house, why don’t you use a credit card? You should look at it this way, this is putting money in everyone's wallet.

For ordinary people in the United States, this is just a salary. It used to have 3,000 credits, but now it has 5,000 credits. So, why not buy back the car you like first?

In order to promote consumption, Greenspan also worked hard. It was not difficult for William White to guess that this damn plan was also controversial within the Fed.

Replace a possible crisis with a crisis that is bound to break out. The guy who can come up with this bad idea is considered capable.

Buffett left. Although the conversation was not very successful, he finally understood this guy's attitude.

No support, no objection, or in other words, if you want to oppose the general trend, you must have the corresponding strength.

"What? Can't figure it out?"

"Ahem, boss, if you do this, White Bank will lose a lot of customers.

We currently don’t have many credit card users. If we don’t have preferential measures, it would be really difficult to explain to our customers. "

"I don't know, this matter makes me feel very bad. Philson, if severe inflation occurs, will the current conditions narrow again?

Alas, eventually they will just go with the flow, and as long as these guys make up their minds, I will have no choice but to accept it. "

Filson was somewhat dissatisfied with William White's caution. As long as you dare to relax, I will dare to increase your loan investment. This kind of stuff is finally packaged up and sold.

Hehe, even if there is a systemic risk, it will be the fault of the Fed and AIG. I don’t know why the boss is being pretentious, it’s really a bit baffling.