As a loyal licker of the United States, Japan has always liked to buy American financial assets. In the past few decades, Japan has been the largest holder of U.S. debt. The Japanese have so many dollars in their hands, so they naturally have to find ways to spend them.

Going abroad, various financial products in the United States have become a good place to spend US dollars.

European countries also have a soft spot for American financial assets, especially Germany, which is also an old customer of American financial products. The subprime mortgage crisis broke out, and Wall Street salesmen spared no effort to sell subprime related products to German investment banks.

products.

Therefore, when the U.S. subprime mortgage crisis broke out, Japan and Germany were the countries that suffered the most losses besides the United States.

Fortunately, both Japan and Germany at that time had strong financial resources. They had strong industrial strength, and they had accumulated large reserves of foreign goods over the years, which allowed them to withstand the impact of the financial crisis.

However, for some "lazy" countries, life was not so easy, such as what was later called the "Five European Pig Countries".

In order to survive the financial crisis, these countries began to borrow money on a large scale, and they already had a lot of debt. Coupled with the economic downturn, the countries were unable to repay these debts, and eventually the European debt crisis broke out. This also caused Europe to

It took several years for the economy to recover.

As the initiator of all crises, the United States does not focus on dealing with the subprime mortgage crisis. The Democratic and Republican parties are busy with the upcoming presidential election.

As usual, this is another wave of political infighting.

The ruling Republican Party wants to take advantage of the outbreak of the subprime mortgage crisis and launch a tax rebate policy to gain more votes. U.S. Treasury Secretary Paulson directly stated that as long as the tax rebate policy is passed, the U.S. economy will accelerate growth later in 2008.

Federal Reserve Chairman Alan Greenspan also came out in support, saying that the worst stage of the subprime mortgage crisis was over and the U.S. economy had begun to recover.

The U.S. government is very good at whitewashing the peace. Even though the world's economy has been severely damaged by the U.S. subprime mortgage crisis, U.S. politicians can still say without blushing that the economic prospects are optimistic!

Of course, it is impossible for the Democratic Party to allow the tax rebate policy to be implemented. Firstly, the Democratic Party has always been opposed to tax cuts. Secondly, the Democratic Party does not want the Republican Party to gain more votes because of the tax rebate policy.

While stalling on the tax rebate policy, the Democratic Party also supported labor unions in their campaigns to win more worker votes. The general strike that bankrupted General Motors took place at this time.

In September, Lehman Brothers, the fourth largest investment bank in the United States, filed for bankruptcy, which immediately dealt a heavy blow to the U.S. economy. Even the stupidest people have realized that the U.S. government's claim that the subprime mortgage crisis is over is simply a lie.

The worst moment has just arrived.

Although the George W. Bush administration is not good at economics, there has never been a shortage of economic elites in American politics. Even if politicians are both "understanding kings" and "sleeping kings," their staffs are more sophisticated than the others.

At this time, the U.S. government also realized that it must intervene forcefully in the financial market in order to survive this crisis.

The Bush administration submitted a bill to rescue the financial system to the U.S. Congress. The Treasury Department will purchase US$700 billion in non-performing housing mortgage loan assets from the market, that is, various subprime-related CDS and matryoshka CDOs, to stabilize the financial market.

However, when the bill reached Congress, it was blocked by the Democratic Party. The Democratic Party's reason was that the $700 billion was too small and they should buy more to save the U.S. financial market.

But in fact, this is just an excuse made by the Democratic Party. The real intention of the Democratic Party is to delay the financial rescue bill, preferably until the end of the US election in November.

Because if the financial rescue bill is implemented before the election, it will be regarded by the public as a political achievement of the Republican Party. When the presidential election comes, the Republican candidates will have more votes.

In order to prevent Republican candidates from gaining more votes, the Democratic Party will inevitably get stuck. Even if this financial rescue bill is beneficial to the country, even if it is urgent to save the economy!

And if the Democratic Party wins the November election and introduces a financial rescue bill at this time, the credit will definitely go to the Democratic Party, and it will also be a bonus for the new president.

Therefore, the implementation of the financial rescue bill was delayed until November 25, and by that time, President Trump had been elected as the 44th President of the United States. This financial rescue bill was equivalent to giving President Trump a good hand.

In comparison, the European Central Bank acted much faster. When Lehman Brothers filed for bankruptcy, they began to inject capital into the European banking system.

If it were not for the European debt crisis, perhaps Europe would have emerged from this financial crisis earlier than the United States.

…

In the conference room of the People's Bank of China, people walked in one after another, and they were all prominent figures from major financial institutions.

Director Sui from the insurance company also came to the venue.

During the U.S. subprime mortgage crisis, the insurance company where Director Sui worked made a lot of money through short selling. Therefore, Director Sui received a high promotion not long ago and became the deputy chairman of the strategic investment committee of the insurance company.

This strategic investment committee is directly under the board of directors, and its organizational structure is higher than the various departments of the insurance company. As long as Director Sui, the deputy chairman, goes one step further, he can enter the board of directors, get a director position, and become the core

decision-making level.

Many people present knew the news about Director Sui's Gao Sheng. After seeing him, they all came forward to congratulate him.

"Chairman Sui, you have been promoted, why don't you treat us to a meal?"

"It's the deputy, deputy chairman." Director Sui said this, but his face was filled with joy.

"Xiao Sui is so young and promising, and he will certainly be able to find a full-time job soon! When I was still in the bank, I could see that Xiao Sui is definitely not the one in the pool!"

The speaker was an old colleague of Director Sui when he was working in the bank. He was much older than Director Sui, and his position was half a level higher. He was familiar with Director Sui, so he directly called him "Little Sui."

"Old leader, you are flattering me, I still have a lot to learn from you." Director Sui said quickly.

Director Sui said, looking behind the old leader, and then asked: "Which leader of our team will be leading the meeting this year?"

After all, Director Sui came from a bank and hung out in this circle. When he met his former leaders, of course he had to take the initiative to say hello.

"You don't have to look for it, I will be leading the team today." The old leader paused, lowered his voice and continued: "Originally, according to the arrangement in the industry, Director Wang was asked to lead the team to attend the meeting, but Director Wang received the call

He was notified of his transfer, so he couldn’t come, and other leaders didn’t have time, so they asked me to take over temporarily.”

"Has Director Wang been promoted?" Director Sui asked immediately.

"The above has made some adjustments to the business in charge of Director Wang. He is now in charge of the service center and training center." The old leader said.

Director Sui was slightly startled. This was clearly a demotion! What kind of real power would he have if he was in charge of the service center and training center? This position was basically equivalent to letting Director Wang wait until he retired.

"Did Director Wang offend someone? I remember when I first left, he was still in charge of important business." Director Sui said.

"It's not just the U.S. subprime mortgage crisis. How could an investment bank as big as Lehman Brothers go bankrupt? We have business dealings with Lehman Brothers, and our bank has also lost a lot of money. Such a big investment bank has gone bankrupt."

You have to find someone to take the blame for the loss!"

The old leader paused for a moment, then continued: "Then the higher-ups started to investigate, saying how could there be no warning for such a serious financial risk? Then it was found that your company took advantage of the subprime mortgage crisis and made a fortune on Wall Street.

Was it Li Weidong from the Puppy Group who gave you the inside information?"

"There's no inside information, it's all basic financial operations." Director Sui quickly covered it up. After all, getting inside information to conduct profitable transactions is not something that can be said to the outside world in a big way.

"Okay, Xiao Sui, why are you still looking at me? Besides, there is no airtight wall in our circle." The old leader continued in a low voice: "Do you still remember that three or four years ago, Director Wang was killed?

We received a loan from Li Weidong, and since then Li Weidong has had no business dealings with our bank.

The superiors believed that if Li Weidong was willing to give us inside information, we would not have suffered such a big loss, and maybe we could even make a fortune. It was also because of this incident that the superiors finally let Director Wang take the blame and punished a director.

, which can be regarded as an explanation to the banking regulatory department.”

The old leader said with a long sigh: "Director Wang is also unlucky. When he became a director, it is understandable that he killed the company's loans in order to establish his authority. It should not be done at all. He killed Li Weidong.

The loan we applied for caused our bank to have a direct dispute with Li Weidong. Now there is a legitimate reason for him to take the blame!"
Chapter completed!