The richest man starts with a blind box

Chapter 1164 Are you buying a house?

"Unexpectedly, I actually misjudged you. I always thought you were just a lucky nigger, but now I see, you are not a ghost, you are a devil!" After the meeting room was empty, only Next, little Swift and Dr. Cooper stayed together, and Dr. Cooper walked up to little Swift and said calmly.

"Sir, I don't understand what you're talking about!" Little Swift said with a slight smile, "I'm just trying to solve problems for everyone."

"No, you want to destroy the entire United States. Your suggestion is to open the door to the devil. I will never let you succeed!" Dr. Cooper said with a disgusted expression.

"Really!" Little Swift nodded, and then said with a smile, "However, it is up to you to decide whether it will be successful or not. You'd better go back and ask your board of directors to see if they want me to succeed." !"

"..." Dr. Cooper opened his mouth, but couldn't say anything.He knows the guys on his board all too well.

"About Korobbi's matter, are you plotting against us?" Dr. Cooper could only temporarily put the matter aside, and then asked him a question he was most concerned about. He wanted to know if he had been tricked by the other party. .

"How could I plot against you?" Little Swift laughed and said, "Others don't know, but the two of us know best. I didn't post that Weibo at all, it was a woman who stunned me with drugs." In the past, I used my terminal to send it, and I was kept in the dark from beginning to end. When I saw that Weibo, I was completely dumbfounded."

"Dr. Cooper, I can swear to God, I really didn't do this thing, it was that woman. So if anyone has to say that Goldman Sachs set you up, it was that woman, or The power behind that woman has absolutely nothing to do with me, so you don’t need to worry too much!” After little Swift finished speaking, he watched Dr. Cooper’s expression constantly changing with a smile on his face. All the internal organs are vomiting blood, but the expression is self-inflicted, which is really great.

He packed up his things again, and left the conference room, leaving only Dr. Cooper powerless and furious on the spot.

In the next few days, Dr. Cooper did his best to prevent the implementation of Little Swift's plan, but this effort was denied by his own board of directors.

When Dr. Cooper proposed that his board of directors could stop this plan, all the directors looked at Dr. Cooper like an idiot. Some even asked Dr. Cooper very simply, is he from Goldman Sachs or American?

Later, Dr. Cooper also tried to persuade the heads of other institutions, but the result is naturally predictable. They only had one sentence.You, Dr. Cooper, want us not to implement this plan. You Goldman Sachs will help us fill the hole, and we promise to reject this plan.

The result is naturally conceivable. Dr. Cooper's efforts are meaningless in the face of the consensus reached by the entire Wall Street. Although Little Swift's plan has not passed any votes, it has been approved by all participating institutions. With unanimous approval, everyone began to silently implement this plan of Little Swift.

This suddenly made Dr. Cooper feel a great sense of desolation. He used to hold power in Wall Street and was followed by countless people. One sentence can change the situation of the entire Wall Street.

But now even if I drool on the phone, no one pays attention to me. This situation finally made Dr. Cooper completely silent.

On the other hand, Little Swift's plan is also being implemented without compromise. All institutions have completely given up control of the market. Not to mention, the media that were previously banned from speaking have also been completely lifted at this time, so one Reports about the subprime mortgage crisis sprung up in various magazines like mushrooms after a spring rain, and began to teach people all over the United States what the subprime mortgage crisis is, and how the subprime mortgage crisis triggered this stock market crash.

Simply put, the subprime mortgage crisis is a financial crisis triggered by housing loans.

There has always been a consensus in the entire banking industry, or the whole world, that mortgages are the safest loans in the world.

Because the mortgage is mortgaged by the house, once the lender cannot repay the loan, the house can be taken back immediately, and because the lender needs to pay a 30% down payment.

So this is equivalent to buying a house with only 70% of the price, which is naturally quite a bargain.

At the same time, because once the lender cuts off the payment, no matter whether it is the down payment paid before or the monthly payment paid every month, it has nothing to do with him.

Even if I have already paid more than 70% of the loan, as long as the payment is cut off, the whole house must belong to the bank and has nothing to do with the lender, so this is definitely a profitable business.

Moreover, after the dot-com bubble burst in 2000, housing prices in the United States began to rise year by year. From 2000 to 2007, the average housing price in the United States rose by more than 60%.So just like China, all Americans have formed a consensus that real estate is the best investment, and investing in real estate is a business that can make money without losing money.

If you have money, don’t do anything else, just use it to buy a house.

The situation in the United States is similar. Anyway, from 2000 to 2007, people all over the country were speculating on houses.Even many drug addicts who do not have regular jobs and live on government relief money every day, or simply indulge in XD every day, have joined the army of buying houses.

What about major financial institutions and banks?They should be able to see the hidden crisis here, right?

They can see it or not, but they are all trying their best to push these people to buy a house.

At the beginning, buying a house required at least a 30% down payment, and this condition actually attracted many people who wanted to buy a house, so major financial institutions turned their heads and began to reduce the down payment ratio.

From 30% to 20%, and from 20% to 10%, and finally even launched a financial package that can buy a house without a down payment, continuously attracting people in the United States to borrow money to buy a house.

……harmonious……

So since you dare to relax the loan conditions, then I dare to borrow money. The more it crashes, in just one year, the transaction volume of real estate in the United States has more than doubled, and this further pushes forward. In addition to the rise in real estate prices, the entire US real estate industry is suddenly in a thriving and beautiful vision.

Not only the real estate industry, the financial industry is also thriving in this area, and once again invented a new financial innovation, that is, subprime loans.

Some smart bankers have discovered that because mortgages can receive a fixed monthly payment, in a way, this is the most stable financial product.I can package all kinds of mortgages in my bank's hands and sell them on the market, so that I can directly exchange for a huge amount of money!

For example, a total of 100 billion US dollars of housing loans, if the buyer repays the loan on time every month, then the repayment can be 10 billion US dollars in one year, and the 20-year loan repayment period is 200 billion US dollars, which is equivalent to a stable annual rate of return. At around 5%, this is much higher than the rate of return of most funds on the market.

Then these loans were sold on the market at a packaged price of 120 billion U.S. dollars, and they were robbed. The 100 billion borrowed by the bank was recovered in the blink of an eye. Financial institutions are jealous.

All the banks have found that loans are simply the most wonderful business in the world. As long as the loans are packaged and sold on the market, it will guarantee a minimum 20% profit, which is a profit that no one can refuse.

So these banks all took action and began to try their best to encourage the United States to buy a house and then borrow a mortgage, so the above down payment was reduced from 30% to zero down payment.

But in the United States, there are very few people who are able to buy a house and pay the monthly payment on time.You have attracted these people in advance with the policy of zero down payment, which seems to have greatly increased the transaction volume, but it is also equivalent to overdrafting the future. After that, it will be difficult for you to find such potential users who have the money to buy a house. .

So what should I do, I can't watch the future performance decline, obviously there is such a good way to make money but I can't make it?

Ever since, some smart people thought that since all the potential users have been tapped out, then they just have to find a way to tap those potential potential users.

For example, those who are unemployed, homeless, on welfare, or even XD, these people are definitely not potential users under normal circumstances. After all, they don’t even know where their monthly living expenses come from. Have the money to pay the monthly installment on time every month?

These people can't even pass the most basic qualification review for housing loans, so it is impossible to approve them for housing loans.

So how do you turn them into potential customers? ...Just remove the qualification review and lend them a loan directly!

As a result, a large group of Americans who have eaten this month but not the next month suddenly found that they also had the opportunity to buy a house.Those bank salesmen will even take the initiative to chase after them.They pat their chests and promise that as long as they are willing to borrow a mortgage, they don't need any down payment, nor any proof of assets. If they sign on the same day, they can get the mortgage tomorrow, and they can directly take over the house the day after tomorrow.

This result can be imagined.

(End of this chapter)