Age of Dreams

Xiao Qi was very stable. After a meal, Tong Wencong was drinking black tea and Xiao Qi was drinking oolong tea. During the chat and laugh, Xiao Qi did not ask Tong Wencong any more.

Whoever asks will speak first, and Tong Wencong naturally does the same.

"Ahem! Shao Xiao, I haven't congratulated you yet!" Tong Wencong smiled and said: "This subprime mortgage crisis, we still underestimated its harmfulness! Have you heard that, Musashi Commercial Bank They have filed for bankruptcy protection! The Bank of Japan has also begun emergency consultations, preparing to inject 10 billion U.S. dollars to rescue them back."

"I'm looking for death by myself, no wonder who." Xiao Qi smiled faintly, "It is not them that the Japanese government should consider, but Sumitomo Mitsui Banking Corporation!"

Sumitomo Mitsui Banking Corporation is the second largest bank in Japan. The scale and the number of businesses involved is beyond ordinary people's imagination.

Japan’s six major consortia, overtly and secretly, control millions of billions of dollars in wealth, but at least one-fifth of them is managed by Sumitomo Mitsui Banking Corporation. The Mitsui Consortium and Sumitomo Consortium were originally the core of the six consortiums.

In addition to being scammed by Xiao Qi, Sumitomo Mitsui Banking Corporation has also been sacked by several Japanese funds. They have a large amount of subordinated debt in their hands. They should be too late to cry.

Small and medium-sized banks like Musashi Commercial Bank are better. If Sumitomo Mitsui Banking had a problem, it would not be fun to bring shock to the Japanese. So Xiao Qicai said here that the Japanese government should be concerned about Mitsui. Sumitomo Bank.

Secretly, there must have been a large sum of funds injected into Sumitomo Mitsui Banking Corporation. If the Japanese dared to be more shameless, they could even wipe out the subprime debt crisis and pay the incident directly, but they would take out Sumitomo Mitsui Banking Corporation.

Money. There are so many Japanese people!

"I'm here precisely for this." Tong Wencong said, "The subprime debt crisis in the United States is getting more and more fierce. I have discussed with several fund managers, and I think we can attack again and make the storm. Come more violently!"

"Do you want to go to Japan?" Xiao Qi asked.

"No. In Japan, whether I go or not, I'm already a sure victory." Tong Wencong looked around and said, "Qiao Shao, don't you know if you know something like CDS?"

"CDS? What is this?"

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

finally come!

CDS is the abbreviation of "Credit Default Swap Insurance" in English.

It is difficult for everyone to say this term.

So let's change to a simple way for example.

For example. An investment bank borrowed 1 billion euros to a country to help him do some false accounting.

But this investment bank also knows the foundation of this country, knowing that it is very likely that it will not generate this 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 pay off its debts, then the bank will pay the 1 billion euros.

Commercial insurance like the one purchased by investment banks is CDS.

Well, let's be more blunt.

This country that has repeatedly falsified accounts and cannot even afford 1 billion euros is called Greece.

This cunning and smart investment bank that helped take false accounts and then actively avoided losses was called Goldman Sachs.

This bank that accepts CDS insurance is not a "Germany Commercial Bank", it is the second-ranked Deutsche Commercial Bank in Germany. That is to say, the hapless family that Xiao Qi had already entrapped once and bought the subordinated debt portfolio.

Then this series of incidents is the familiar "Greek Debt Default Crisis".

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

The crux of the bad luck is those banks that undertook CDS insurance for their national debts. They were the only ones who lost their blood mold and earned a small amount of insurance premiums. As a result, they lost hundreds of billions of euros. As a result, the entire Eurozone was lost. Depressed, when Xiao Qi crossed back. None of them recovered.

Such a well-known and notorious CDS, how could you say that Xiao Qi hasn't heard of it?

But the young man 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 derivatives in the financial sector. Except for the elites who created them, few people say that they can understand everything-the elites who have been pitted by the financial derivatives created by them are not one or two, let alone others.

So he mysteriously explained to Xiao Qi what CDS is, and then said: "Qia Shao, now Goldman Sachs, Merrill Lynch, and several other investment banks are all beneficial. Sell your CDS insurance policy cheaply. Surprisingly, the least is 30% off, and the most is only 40% off! Several of our fund managers have discussed and thought this business is very good. If you want to eat it in one bite, do you want to join it?"

This is going to die!

Xiao Qi swallowed.

Something like CDS, whoever holds it is a gunpowder storehouse, can't hide it, you still bump into it?

Yes!

In the end, the banks gritted their teeth and paid the CDS, but turned around and sued the investment banks and funds holding these CDS in the courts of various countries, and directly included them on the blacklist. The European Court of Justice and the US court even A high ticket was issued to punish them for their unethical behavior!

Compared with CDS insurance ~www.readwn.com~ Subordinated debt is better to say, because before the outbreak of subordinated debt, everyone thought that high-yield subordinated debt is a high-quality financial product. Many countries and large banks Are buying.

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

But CDS is naked. Naked deception and digging. No reason can be explained!

These private equity funds don't care about fame, but Xiao Qi wants a face!

What a good reputation Xiao Qi's fairy company is. If such a **** pan is really on the back, a company with a bad reputation, how can I go to these countries to do business in the future?

Originally, those foreigners were very dissatisfied with a Chinese company that made money so arrogantly in their country. If they throw this out to divert public anger, those people in difficulties in the financial crisis will buy fairies in the future. Is the company's product? It's already very polite not to buy a villain directly to get a villain! (To be continued. If you like this work, you are welcome to come to the starting point (m) to vote for recommendation votes and monthly tickets. Your support is my biggest motivation. For mobile phone users, please go to m to read.)