Qingben beauty

Chapter 903 Ten billion...dollars!
After Lu Lingguang finished that sentence, he leisurely added another word: "[-] million."

I took a leisurely breath and asked, "You said there are two orders that cannot be fulfilled?"

"That's right, those two orders were sold by a medium-sized investment bank. Even though the impact this time was great, at that time, some small investment banks declared bankruptcy. That investment bank was not small in scale and had strong financial strength. We thought he should be able to resist at least half a year,
So I didn't rush to make a move. Who knew that the company was even more unbearable than those small investment banks. It collapsed overnight and declared bankruptcy the next day. "Lu Lingguang frowned for a moment, then let go, and said: "However, it was also because of their family that I found out one thing. "

Stared at by Lu Lingguang's small eyes, I asked very cleverly, "What's the matter?"

"The bankruptcy of that company was really sudden. That medium-sized investment bank is indeed in a serious financial situation, but they have a lot of funds, a lot of projects, and a variety of products issued. It is said that even if there is a breach of contract, they will mobilize funds from other products. You can still deal with the past, and you won’t say that it collapsed overnight, unless you say,

There was an explosive event that turned them into negative equity, and they didn't even give time to adjust their positions. Such an event might change the entire process of subprime mortgages, so I asked Brother Su to find Robert , let him investigate through some secret passages, which found out some interesting things. "

I was very cooperative and hummed again, expressing that I am very interested in knowing.

With a chuckle, Lu Lingguang scratched my palm with his fingertips, and with the corners of his eyes upturned, he said very proudly: "It is a super-large project that caused that medium-sized investment bank to go bankrupt in an instant. The real estate is a small town. Three years ago, several major groups jointly invested a huge amount of money to transform an abandoned miners' town into a resort town. Not only was it overthrown and rebuilt, the newly built town was even larger than the original is five times larger,
Originally, they planned to use it as a gimmick to get people in big cities to buy it for vacation, but its location is really bad, and the price is very high, so it is difficult to sell it to the outside world. Seeing that the capital chain is about to be broken, they Those salesmen thought of a trick, the place was close to the mine,
Although the mine is already half-closed, there are still many miners, and there are several small towns around them. They encourage those miners and those people in those towns, no matter whether they have a fixed income or not, as long as they come to buy a house, they will have zero down payment and two Monthly supply. "

"Those people will also buy?" Mr. Jin asked.

Lu Lingguang sneered and said, "Why don't you buy it? Zero down payment and two years of monthly payment waiver. What they pay is just an identity, and they don't need to pay any money. As long as the price of the house increases during this period, it will be considered as two years old." After the year, they need to pay the monthly payment by themselves. They have no money, so as long as they sell the house again, it will be a waste of money.
Even if they can't sell it, it's the bank's business. So, let alone those miners, some dancers in the town bought three or four houses, and all the newly built houses in the whole town were sold like this. The bank packaged it into a subprime loan and sold it to an investment bank, which then packaged it into an MBS with a credit rating of A for sale. "

Lu Lingguang paused for a moment, and said, "As for those houses, it just so happens that they need to pay the monthly payment themselves this year."

After another pause in his voice, Lu Lingguang said with obvious gloating in his voice: "In Ms. Cai's investment bank, several MBS projects sold were spun off from that small town, and the value is about 50 billion U.S. dollars. When we signed the CDS agreement, Ms. Cai didn't understand the rules, and the people in her investment bank didn't remind her.

The MBS name was written in the agreement, so she directly applied the project name. According to the contract explanation from the US side, it was she who sold all the MBS under the project name to us corresponding to the CDS, and Lu Xuanran did it urgently at the time. , using a continuation agreement, and, at that time, the people from the investment bank set a trap for them, passing on to them a batch of extremely dangerous subprime mortgages in their hands, that is, to beat Lu Xuanran in the name of urgency,

A part of it was transferred from their own project, and sold to Lu Xuanran as a continuation of that project, which means that Lu Xuanran's money was directly transferred to their project, reducing their losses. "

"That is to say..." I hesitated, not knowing what to ask.

"That is to say, whether it's Ms. Cai or Lu Xuanran, most of the CDS they sold to us were MBS from that small town. The town is huge, but most of the buyers are from none. The repayment ability is only a part of the explosion now, but as time goes by, all those who need to pay the monthly payment when they are due will also explode. In the end, I am afraid that it will become a dead city, that is, there may be more than 90.00% of defaults .”

Lu Lingguang chuckled lightly and said, "Miss Cai's investment bank followed the medium-sized investment bank to chase after some investment, so it hasn't reached the point where the medium-sized investment bank went bankrupt instantly, but affected by this, the situation of her investment bank has also changed. Very pessimistic, I counted Miss Cai’s remaining personal assets, and offered to cash in two-thirds of the CDS with her.”

Lu Lingguang let out a very pleasant laugh, and said: "Miss Cai actually doesn't understand the CDS regulation at all, not only was she played by people from her own investment bank, but also couldn't see the trap I set in the contract. Self-righteous playing tricks, as long as I fill in the amount of the full premium, thinking that I can save some money to trick me into investing, she really thinks that I bought her [-] million US dollars in full, in fact, in the CDS contract, I Fill in the insurance premium,
Then the corresponding indemnity is calculated based on the corresponding ABX, not the MBS of the corresponding amount they take for granted, because although the CDS corresponds to the MBS, the CDS is actually an independent contract, as long as the total amount of the CDS corresponding to the premium does not exceed her investment bank The total amount of MSB issued is calculated according to the total amount of CDS corresponding to the insurance premium. The project she signed to me is the project in that small town with a total amount of 50 billion US dollars, even if Lu Xuanran's is added, it cannot exceed it. "

Lu Lingguang paused, and said very coldly: "She really thought that I bought [-] million, and she would pay me [-] million at most. Even if there is an agreement with Lu Xuanran later, which doubles the odds, she will Only pay me [-] million, when she knows the real regulation of CDS, and realizes that her double odds is actually just her turning the D-grade credit odds that her investment bank staff managed to obtain into A-grade credit odds Rate, knowing that it is calculated according to the ABX price and A-level credit odds at that time,
She wants to pay me a total of 27 billion US dollars, and this is legal and compliant. When she didn't even have to fight a lawsuit, she didn't hesitate at all. The part of the investment bank account at that time should have been paid for the payables. All the compensation was paid to me, 18 billion US dollars, which was settled the day before yesterday. "

"That is to say, in fact, you are not buying a 30 million CDS, but a 27 million premium, which corresponds to a [-] billion CDS." Mr. Jin said with a smile: "Miss Cai is still smart, and she knows how to use investment bank money. If she pays first, her own joint and several liability will be reduced by more than half, otherwise she can directly declare bankruptcy with [-] billion US dollars, but in this way, her investment bank won't last long, right?"

"That's right, I guess it will last for another month at most." Lu Lingguang sneered and said, "The original boss of the investment bank is a formidable person. Besides making those subprime mortgage products, he also made some hedging settings. Start it, at least they can pay 80 billion less. Unfortunately, Ms. Cai doesn't understand at all, and no one in the investment bank is willing to tell her that the 18 billion payable she embezzled is actually the money from the hedging mechanism ,

If the money is gone, the hedging mechanism will be completely useless. As long as her investment bank's products lose a few more orders, the investment bank will have to declare bankruptcy. Well, it probably won't be used for a month. "

"Why wouldn't the people from the investment bank tell her?" I asked curiously.

"Miss Cai has always acted domineeringly, and she is an outsider commanding insiders. Those investment managers who think highly of themselves will not like her." Mr. Jin slightly turned his head back and said: "Besides, Guang Shao There are a lot of people here, you should have dug out some people first, right?"

"I didn't dig, so I don't have time to do this kind of thing, and I'm not interested in them, a bunch of idiots who cheated the boss." Lu Lingguang snorted and said, "Brother Su said that the original owner of the investment bank The boss actually sold the investment bank at that time and cashed out all of it, which made Ms. Cai and Mr. Lu think that they had taken advantage of him. He was also a powerful person, so they had a private relationship through some relationships. The two of them had similar tastes. As if I didn't know him at all,
The personal relationship is good. The people in the investment bank are all subordinates of the boss. In addition, as you said, they don't like Ms. Cai very much, and they have already found a way out. Naturally, no one told her. My elder brother told me that even when Ms. Cai came to me and signed such an agreement with me on her own initiative, it was the people from her investment bank who suggested her. "

I thought about it for a while, and then I dropped my mouth unconsciously.

No wonder Lu Lingguang said that Su Yuzhu had said that Ms. Cai was giving him money, not for nothing.

Well, whether it's the original boss or Su Yuzhu, they are all really good characters...

Uh, I accidentally said this sentence...

Lu Lingguang glanced at me out of the corner of his eye, snorted, scratched my palm with his fingertips, and said, "What are they? They only have this kind of virtue, you know? I bought it for Miss Cai back then. The [-] million in CDS was actually money from short-term loans. I used leverage to short-sell those investment bank stocks. At that time, the market was still cheering. Very high, do you know how much I earn!"

I didn't feel very surprised and said: "There are more?"

This is 80 billion with Su Yuzhu. According to the concept that he and Su Yuzhu are half and half, he has 40 billion, Miss Cai lost 18 billion, and...

Lu Lingguang nodded to me very satisfied, and said proudly: "Of course, this is done by me alone. This kind of short selling is aimed at the entire stock market. If the investment bank goes bankrupt, I can still get my money back. Now I have already withdrawn 17 billion, and I am waiting for half of the two to declare bankruptcy and liquidation. By then, I will return at least 25 billion! Calculate, how much!"

me……

When my head was still muddled, Mr. Jin said: "Hey, Guangshao, you can do a random calculation and it's 100 billion!"

I... my eyes are turning white...

100... US dollars!
(End of this chapter)