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Chapter 172 The Subprime Mortgage Idea

The next morning, Locke came to the farm and said hello to Damon.

"Has everyone found it?"

"Of course." Damon nodded: "A total of 32 people were caught."

"There are quite a few people." Locke smiled, and the liar team that Jesse joined was a complete chain.

This has also been shown in the movie. At least seven or eight people gather in the secret base to sort out the stolen goods and cash obtained by various means, and this does not include the people who cooperated with the operation.

Damon told Locke the results of the overnight interrogation in detail. Jesse was randomly looking for targets in the bar, and Barney, who was wearing a high-end custom suit, was naturally noticed, and a series of things followed.

If it was just cash, watches, credit cards and the like, it would be really difficult for Damon to track down, and he was able to catch him, thanks to the sports car that Barney lost.

Damon found a local gang that sells stolen cars, and only then did he focus on a few key members, and then found their stronghold to wipe them out.

"That Jesse started wandering the streets of New York as a teenager, easily spotted Mr. Barney's lame stalking, and then..."

Damon shrugged his shoulders. These people are indeed veterans. After discovering Barney, they quickly had a follow-up plan.

"Okay, bring these people to see me." Locke said to Damon: "Although such people are not well-known, they may be useful at any time."

Damon nodded. Since Locke recently asked him to transfer the manpower received from Mexico to a mysterious person, he guessed that Locke would probably not arrange for him to do some work against gangs in the future.

In other words, next, he will completely transform into the manager of the security company.

In fact, this is not a bad thing, after all, no one will choose to do those things that are not visible.

In the living room of the farm manor, Locke met the core members of the gang. Jesse and Nick were familiar faces, as well as the messy-haired fat man Fylde, an expert in credit cards.

Since his good looks can't make him the protagonist, he can only rely on his ability to make a living.

"I think one night is enough for you to know something about me." Locke said to the three with a smile.

"That's right, Mr. Locke Lee, the hottest billionaire in New York right now. Although you have kept a low profile, I have heard a lot of rumors about you on some occasions." Nick said.

"Then how do you think people like me will deal with the guy who cheated my friend?"

As Locke spoke, he gave Damon a look. Damon took out the gun knowingly, opened the safety with a click, and pointed it at the back of Nick's head.

"Sir, please give me 5 minutes." Nick said quickly: "I have an idea. If you are not satisfied after listening, I am willing to take them to apologize to your friends."

"No problem, I'm not in a hurry." Locke looked at Nick leisurely.

Nick hesitated for a moment, then looked at Jesse and Fard: "Sorry, what I'm going to say next involves a brother's secret, so please give me some private time."

Jesse and Fard didn't react too much. After all, although they are a team player, there is no real life-and-death friendship between liars.

After speaking, Nick looked at Locke.

"Yes, Damon took two friends to visit the manor." Locke said.

"Okay." Damon nodded and took Jesse and Fylde away.

"So what exactly do you want to say?" After the two left the reception room, Locke poured two cups of tea from a teapot, pushed a cup to Nick, and asked.

"Thank you." Seeing this, Nick felt more confident. It seemed that although Locke was born in Texas, he obviously didn't have the habit of discriminating against black people there.

"Sir, I wonder if you have heard of Gary Bernard and Joel." Nick asked.

"Of course I've heard of the two of them. They did a big thing in Texas more than 20 years ago." Locke said, "Do you have any relationship with them?"

The two people Nick mentioned made Locke think of a movie called The Banker that he had seen before, and the protagonist was Gary Bernard.

He is a black man born in Texas. With the money he saved, he cooperated with another black man, Joel, in California, and made a lot of money through real estate. Then, after visiting relatives in Texas, he came up with the idea of ​​helping black compatriots. idea.

So he arranged for a white person to act as a representative, bought a bank, and provided loans to those black compatriots so that they could buy houses in good neighborhoods.

It went well at first, but then some problems happened, the white representative wanted his own business, didn't want to be a puppet, and encouraged two people to buy a second bank controlled by him again.

But the white representative messed up in the end, the bank's loan books had problems, and federal agencies began to intervene. As a result, two black people bought the bank and it was exposed.

At the time, such things were not allowed in the unspoken rules, especially in the more conservative Texas.

This incident caused a lot of repercussions. At the same time, because of bank account problems, both Gary and Joel were imprisoned for three years and all their property was confiscated.

"Are you related to them?" Locke didn't expect Nick to be related to the two of them, but the focus movie didn't say anything about Nick's specific origin.

"To be precise, it has something to do with their son Garrett." Nick said: "After what happened that year, Mr. Bernard and Mr. Joel left the United States.

But ten years ago, when they made money, they came back here again, came to New York, and gave me the opportunity to meet Mr. Bernard's son, Garrett, who helped me a lot.

Now Garrett wants to develop in real estate, but he has not been able to implement it due to financial problems. His idea is this..."

After hearing what Nick said, Locke thought to himself, isn’t this a subprime loan? This thing is not new anymore. It will bring about the subprime mortgage crisis more than ten years later, but if you really count it, this thing is indeed very rich. potential.

Use the bank to issue loans, and then you can package and sell the subprime mortgage contracts to Wall Street according to 3% of the high quality and 7% of the subprime mortgage.

In this way, banks can not only earn loan interest from high-quality customers, but also develop a large number of borrowers with poor credit and low income to become customers.

You can even quickly get back the loaned money from Wall Street, and earn another handling fee by the way.

This is the same as many financial games, in essence it is just drumming and passing flowers. As long as you don't become the last one to take over, you won't lose anything.

However, this kind of thing is not suitable for Locke to do by himself, it is too cumbersome, and at the same time, in case of thunderstorms in the future, it may cause some troubles.

The very thoughtful guy introduced by Nick might be the best candidate. The reason why the subprime mortgage cannot be maintained is that besides playing too much, the important point is that the housing price has stopped rising.

As long as you pay more attention, it's not a problem to quit if you detect the danger in advance. As for whether this guy can resist the temptation and quit at that time, it's not certain.

In the face of greed, too many smart people have fallen into the sand.

"Your friend is a very ambitious person, just like his father." Locke thought for a while and said, "He wants to work for me?"

"He's been looking for a partner, to be precise," Nick said cautiously.

"I will arrange someone to talk about the cooperation with him, and the next thing I want to talk about is your problem." Locke said slowly:
"I have a sum of cash in my hand, you choose a few trustworthy people in your team, and follow my request, take this money to go around in circles.

If you do well, forget about this time, and there will be bonuses, but don't touch your current business in the future. "

The money that Locke said was the cash of the Curdis family, because he has been busy with the pound crisis. For such a long time, Locke only laundered part of the money and gold, and most of them were used to pay Damon and the others. .

There is still [-] million US dollars in cash left, and Locke is going to invest in Dongguo to purchase some fixed properties in advance. As for Nick and others, Locke contacted Catalia, and with her watching, he is not afraid of Nick and the others. .

It's not that Locke looks down on Nick and the others. Liars are not outlaws after all, and Katalia's mind is delicate enough to deal with them.

Nick heard it now that Locke planned to let him work with him, and he agreed without hesitation.

For people like them, having a backer, even if something goes wrong and goes to jail, the sentence can be reduced to the greatest extent. This is a good thing that many colleagues can't wait for.

And at this time, he couldn't help but not agree.

(End of this chapter)