The richest man starts with a blind box

Chapter 1153 Begins to Collapse

Time has slowly stepped into August of 08. This is a moment that we have been looking forward to for decades. Although we have just experienced a disaster, the Chinese people still stood up with unimaginable will and belief and devoted themselves to this In the heat of the Olympics.

As the biggest sponsor of the Olympic Games, Jiangnan Group is also the most conspicuous existence of this Olympic Games. After all, it spent billions of dollars to name the Olympic Games, so the logo of Jiangnan Group can be seen in every aspect.

In addition, the Jiangnan Group made outstanding achievements in Yi Province before, especially Houtu's prediction, which reduced the final casualties of the disaster to only three digits, which made the Jiangnan Group's limelight in the country and the world unprecedented two.

So at this time, Jiangnan Group has entered a new peak. For example, its OO Network, when it was only reported that OO Network could purchase game intelligence AI technology from Jiangnan Group, trying to develop a new generation of intelligent AI online games, It directly caused the stock price of OO Network to usher in a round of skyrocketing.

Although this is just a piece of news from beginning to end, it was a small game media that first exposed the news, and the source of the news was just an industry insider who did not want to be named. Even this so-called new generation How to play intelligent AI online games is not clearly written, but this does not prevent the stock price of OO Network from soaring 10% for three consecutive days, and finally broke through the market value of 2008 billion US dollars in July 7. After becoming the world's first company with a market capitalization of US$7 billion, it became the first company with a market capitalization of US$000 billion, making Boss Huang's personal net worth soar to tens of billions of dollars again.

And because the market value of OO Network has already approached 7 billion U.S. dollars, so this time the skyrocketed even approached the 000 billion U.S. dollar mark, but the market probably noticed it. This news seems a bit too unreliable. It took 8 days to usher in a round of rebound, and it lost about half of the increase, but there is no doubt about the stock price and market value, and it has stabilized at more than 000 billion US dollars, which made everyone exclaimed OO Network It is simply a monster stock.

However, the reason why OO Network was able to usher in such an astonishing increase just because of an unreliable gossip is that Jiangnan Group has made breakthroughs and achievements in artificial intelligence, but in fact it is more due to the downturn in the US stock market itself. and crumbling.

Since New Century Financial Corporation, the second largest subprime loan company in the United States, announced its profit problems in January, the entire American market has started a chain reaction.

HSBC Holdings was the first to expose the risk. They announced on February 2 that they would increase the provision for bad debts by USD 13 billion for the subprime mortgage business in the United States. dollar up.

Of course, considering the leverage effect, you should actually be prepared to lose more than $50 billion.

At this point, the mortgage risks of the entire United States began to surface.

Ten days later, the largest subprime mortgage company in the United States, the National Financial Services Corporation of the United States, announced that it would reduce the lending on mortgages. It said it was a reduction, but in fact it basically stopped releasing housing loans, and even other loan businesses were also affected. impact, a substantial reduction in lending.

On March 3th, New Century Financial Corporation of the United States, which had previously announced that there was a profit risk, issued a company statement, saying that the company's book funds were tight and it would not be able to pay various expenses normally, hoping to get grace from the bank and so on.

Only three days later, on March 3th, New Century Financial Corporation directly declared bankruptcy. The speed was so fast that everyone in the industry was shocked.

Later, according to the investigation, it turned out that at that time, New Century Financial Corporation was not short of funds on the books at all, but had no funds on the books. On the contrary, it owed nearly 130 billion US dollars to banks and other institutions, and a Weeks later is the deadline for repayment.

Originally, New Century Financial Company hoped to get the accommodation from these banks and institutions to postpone the repayment deadline for a period of time, so that it might be able to raise a sum of money.

But as a result, when these banks and institutions learned that New Century Financial Company's books were in shortfall, not only did they not have the slightest intention of accommodating, but they stepped up their efforts to force the other party to repay the debt.

After all, everyone is not stupid. If it is pushed back, it will still be a bad debt. It is better to find a way to get back some of the losses while the other party may still have money.

It is unclear whether the last boss of New Century Financial Company still has funds in their hands, but it is obviously impossible for these behind-the-scenes bosses to take out the money in their hands to pay back the debts, and they also know that New Century Financial Company has too many bad debts. , the more it drags on, the worse the situation will become, and it will be more difficult for him to get out.

So the behind-the-scenes boss directly announced that the New Century Financial Company was closed... Anyway, the company owes the money, so it has nothing to do with me.As long as the company goes bankrupt, all the debt problems don't exist.

Therefore, the New Century Financial Company directly declared bankruptcy at an unimaginable speed. In this way, the behind-the-scenes boss got out of this muddy pit as quickly as possible, and by the way, he saved a large amount of rich assets for himself.

But this news is undoubtedly a nightmare for other financial institutions. After all, New Century Financial Corporation is the second largest company in the entire subprime mortgage industry. This company actually declared bankruptcy in just three days because of the subprime loan problem. , are other companies in that industry likely to do well?

How big is the loophole in the industry as a whole?

Although people on Wall Street have long seen the problems, everyone has been working hard to create the illusion that the entire industry has no problems and is still making money.

In this way, newcomers who don't understand can be fooled into the game, and at the same time, retail investors in the stock market can continue to invest money in related stocks, so that their previously invested funds can take advantage of this opportunity to escape.

All of this was maintained pretty well, but no one thought that the boss behind the New Century Financial Company would run so simply... So the main reason for this is that its own banks and institutions refused to allow the other party to postpone the repayment. But is it wrong for us to ask the other party to repay the loan on time according to the contract?
We don't want to let our family suffer losses, and we want to get back the funds as much as possible. Is this wrong?
So it's definitely not us who are wrong, it's the damn New World Financial Corporation, it's the whole world.

But no matter who was wrong, with the collapse of the New Century Financial Company, a large part of the stockholders saw the problem, so all kinds of funds began to flee frantically.

On the second day after the news was released, U.S. stocks fell sharply, with the Dow Jones index falling 2%, the S&P index falling 2%, and the Nasdaq index falling 2.04%.

Well, by the way, this day 00 Network ushered in a small climax after the launch. The stock price has been falling for the past few days, and it is about to fall below the price of 60 US dollars per share. As a result, after the news Stimulated, 00 Network actually ushered in a wave of rising against the trend, and the price rose by two dollars in one breath.

However, it is impossible for Wall Street to allow this to happen, at least until its own funds escape from these mud pits, a crash is absolutely not allowed.

So on March 2008, 3, after the stock market experienced a three-game losing streak, the Federal Reserve directly announced that, considering that New Century Financial Corporation was involved in a large number of financial companies, as well as the financial security of individual lenders, and the interests of investors, Benefit.

After the New Century Financial Company announces its bankruptcy, a temporary organization will be established immediately to host the New Century Financial Company. At the same time, it will invite related companies related to its assets to jointly invest in it, and make emergency capital injections to allow the New Century Financial Company to operate again. Maintain the stability and prosperity of the entire market.

Stimulated by this news, the stock market rose again on the 16th, and 00 Network began to fall again. Wall Street was very successful in calming people's hearts, and the majority of investors began to believe that the entire subprime mortgage industry was It won't be too much of a problem.

They did not realize that what the Federal Reserve announced was to invite other financial institutions to inject capital. This was just an invitation rather than an order, and the Federal Reserve itself did not intend to inject capital into it.

Therefore, no one knows whether New Century Financial Company will be able to obtain a huge amount of cash to resume normal operations.

Secondly, the major financial institutions on Wall Street are quietly withdrawing funds from subprime-related businesses.

If it is difficult for ordinary shareholders to find out the problem of these capital flows, then there is one thing that they can see clearly.

那就是在2008年的4月24号，米国的联邦住房管理局公布了2008年3月份的住房销售数据，在整个2008年3月份，米国的成屋销量环比下降高达10.2%，也就是和2月份的销量数据相比。

But this is not the scariest thing. The scariest thing is that the year-on-year sales data has dropped by as much as 16.7%. Compared with the sales data in March 2007, this is basically a cliff-like decline.

The content of this FHA report is very restrained, and there are very few words. Except for a few data that must be released, there are some useless clichés left. The really useful content and analysis are basically zero, such as why sales The descent would be so horrific that it was not mentioned at all in the report.

Of course, if investors are smart enough to check the data released by the housing loan management agency, they will find that the issuance of housing loans, both on a quarter-on-quarter and year-on-year basis, has dropped by more than 20%, which is even more terrifying than the data on existing home sales. .

But the magic is that the number of people applying for housing loans this month has increased both month-on-month and year-on-year.

In other words, more people applied for mortgages in March than in February, and more than in March last year.However, the housing loans issued by financial institutions have decreased by more than 3%. The accumulation of these data is enough to make many smart investors feel creepy.

It's a pity that most stockholders don't know how to check these data reports at their fingertips. They just still see that the data of the entire market is good, and the stock prices of some companies are still rising.

Therefore, the prosperity of the entire market is still going on, and the entire stock market has been rising until June 2008, 6. On this day, there was a small fluctuation in the market, and a high correction began. The Dow Jones index fell 22%, and the S&P The index fell 1.37%, while the Nasdaq lost 1.29%.

Well, soon the financial analysts told everyone through various channels that these are normal callbacks and there is no need to worry too much.

(End of this chapter)