Chapter 1313 Better Face

Xiao Qi was very calm, after a meal, Tong Wencong drank black tea, Xiao Qi drank oolong tea, while chatting and laughing, Xiao Qi didn't ask Tong Wencong's reason for coming.

Anyone who asks will speak first, and Tong Wencong is naturally the same.

"Ahem! Qi Shao, I haven't congratulated you yet!" Tong Wencong said with a smile on his face: "We still underestimated the danger of this subprime mortgage crisis! Have you heard, Musashi Commercial banks have filed for bankruptcy protection! Japan’s central bank has also started emergency consultations, preparing to inject 10 billion U.S. dollars to rescue them.”

"I'm looking for death, no one's to blame." Xiao Qi smiled lightly, "It's not them that the Japanese "government" should consider, but Sumitomo Mitsui Bank!"

Sumitomo Mitsui Banking Corporation is the second largest bank in Japan. Its scale is so large and it involves so many businesses that ordinary people cannot imagine it.

Japan's six major consortiums control tens of trillions of dollars of wealth openly and secretly, but at least one-fifth of them are managed by Sumitomo Mitsui Bank-the Mitsui consortium and the Sumitomo consortium are originally the core of the six consortiums.

In addition to being cheated by Xiao Qi, Sumitomo Mitsui Bank was also cheated by several Japanese funds. They have a large amount of subprime debt in their hands, and it should be too late to cry now.

Small and medium-sized banks like Musashi Commercial Bank are better. If there is a problem with Sumitomo Mitsui Bank, the shock it will bring to the Japanese is not just for fun. That's why Xiao Qi said here that the Japanese "government" should care about It is Sumitomo Mitsui Banking Corporation.

There must have been a large amount of funds injected into Sumitomo Mitsui Bank in the dark. If the Japanese dared to be more ashamed, they could even wipe out the storm of the subprime debt and pay the compensation directly, but took Sumitomo Mitsui Bank out. [

Money. There are many Japanese people in this thing!

"That's exactly why I came here." Tong Wencong said, "The subprime debt turmoil in the United States is getting more and more violent. I discussed it with several fund managers, and I think we can attack again to make the turmoil worse." Come more violently!"

"You want to go to Japan?" Xiao Qi asked.

"No. Whether I go to Japan or not, it is already a steady victory." Tong Wencong looked around, "Qi Shao, I don't know if you know something like s?"

"S? What is this?"

Xiao Qi expressed surprise just right, but his heart rolled like a wave.

finally come!

s is the abbreviation of "credit default swap insurance" in English.

Saying this term is a bit difficult for everyone.

So let's take a simple example as an example.

For example. An investment bank lent 1 billion euros to a country and helped him make some fake accounts.

But at the same time, this investment bank knows the background of this country, and knows that it is very likely that it will not pay the 1 billion.

So for the sake of insurance, the investment bank found another bank and bought a 20-year insurance of 1 billion euros. Once the country cannot repay its debts, the bank will pay the 1 billion euros.

Such commercial insurance purchased by investment banks is s.

Well, let's put it a little more bluntly. [

This country that has repeatedly made false accounts and cannot even pay back 1 billion euros is called Greece.

This cunning and smart investment bank that helped set up false accounts and then actively avoided losses is called Goldman Sachs.

The bank that accepts s insurance is not "a commercial bank in Germany", it is the second-ranked Deutsche Commercial Bank in Germany. That is to say, Xiao Qi has already entrapped the poor family who bought the subordinated debt portfolio once.

Then this series of incidents caused is the "Greek debt default crisis" that everyone is familiar with.

In other words, the Greek debt default crisis is nothing but a mess anyway.

The key unlucky ones are the banks that undertake the insurance for their national debts. They are the ones who have suffered a lot. They only earned a small amount of insurance premiums, and ended up losing hundreds of billions of euros in total. Therefore, the entire euro zone After a setback, when Xiao Qi came back from time travel. None recovered.

Such a famous and notorious s, how could Xiao Qi never have heard of it?

But the boy can never say that he knows, and he knows more than Tong Wencong, he can only pretend to be stupid.

Tong Wencong does not doubt that there are too many derivative products in the financial field. Except for the elites who made them, few people say they can understand everything—there are not one or two elites who have been cheated by the financial derivatives they created, let alone others.

So he mysteriously explained to Xiao Qi what s is, and then said: "Qi Shao, now Goldman Sachs, Merrill Lynch and several other investment banks are beneficial to sell the s policy in their hands at a low price. The price is so cheap It’s terrible, the least is 30% off, and the most is 40% off! Several of our fund managers discussed it and thought that this business is very good. If you want to eat it all, do you want to join?”

This is to kill!

Xiao Qi swallowed his saliva.

Something like s, whoever holds it is a gunpowder magazine, you can't even hide it, and you still bump into it?

yes!

In the end, those banks gritted their teeth and paid for these s, but turned around and sued the investment banks and funds holding these s in the courts of various countries, directly blacklisting them, the European Court of Justice and the US Court even Hefty fines were issued for their unethical behavior!

Compared with s insurance, subordinated debt is a little easier to say, because before the outbreak of subprime debt, everyone thought that high-return subordinated debt was a high-quality financial product, and many countries and large banks were buying it.

If someone really finds out that Xiao Qi was involved in it in the future, Xiao Qi can also use this reason to prevaricate.

But s is a "naked" "naked" deception and digging a hole, no reason can be explained!

These private equity funds may not care about reputation, but Xiao Qi has no shame!

Xiao Qi's fairy company has such a good reputation. If it is really a big scapegoat, a company with a bad reputation, how will it go to these countries to do business in the future?

Originally, those foreigners were very dissatisfied with a Chinese company making money so arrogantly in their country. If they throw this matter out to divert public anger, those people who are in financial crisis will buy fairies in the future company's products? It is already very polite not to directly buy a villain to tie a villain! (To be continued. If you like this work, you are welcome to come to the starting point to vote and monthly pass. Your support is my biggest motivation. Mobile phone users, please go to m to read.)

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