We are all reborn, who wants to be the richest man?

Chapter 503: Being a Dog Must Be Obedient
California, the United States, the headquarters of the California Public Employees' Retirement System.

The California Public Employees' Retirement System, one of the largest public employee retirement systems in the United States, manages retirement funds for California government employees, public school employees, federal employees, and other industries.

Not only pension savings, but also 401K are managed by them. Currently, the managed funds are 463 billion US dollars, but 80% are pension funds. The scale of 401K is less than billion, and the number of members exceeds one million.

Such a fund with huge assets under management and stable membership has been in turmoil recently and its management is facing a crisis.

"What does Wall Street say?"

Shake your head, shake your head, and shake your head again.

"Several of us have contacted several Wall Street capitals that have obtained Texas Instruments shares, and they all said they have no extra shares to sell to us."

"What about Morgan Stanley? Didn't they get 4500 million shares from TI's Wall Street underwriters this time?"

Everyone knows that Morgan Stanley has reached a cooperation with the Luo family and has exchanged shares with Texas Instruments.

It is hard to say who wins and who loses. In terms of content, Luo Nianzhong is definitely more suitable. The value of the Texas Instruments shares that Morgan Stanley obtained and the 8% of the shares it paid cannot be compared.

But overall, if Texas Instruments had not helped Morgan Stanley stabilize market confidence at the time, it would be a big question whether Morgan Stanley's listing would have been as smooth as it is now.

And now that Texas Instruments is listed, it can bring huge profits to Morgan Stanley.

Texas Instruments' total IPO share capital is 3 million shares, and Morgan Stanley's 4500 million shares account for 15%. Three-quarters of the stocks available on Wall Street are in Morgan Stanley's hands.

Based on the price they purchased at that time, as long as Texas Instruments’ market value exceeded US$25 billion, Morgan Stanley would make a huge profit of % on this investment.

Judging from the forecasts given to TI stock by major Wall Street institutions, none of them thinks that it will not exceed 10 billion US dollars, especially with the current rapid growth of the analog chip market.

"One million shares. This is the maximum number Morgan Stanley can agree to give us."

"One million shares? That's only a small amount of money, what can it be used for?"

"There's no way. Morgan Stanley is very optimistic about Texas Instruments' development and will not offer too many shares."

The entire conference room fell silent again. After a long time, the person sitting in the main seat spoke up, "Do we have to agree to that guy?"

"Kai'er, you have to understand that we are a retirement fund. We no longer manage Wall Street's capital. The only thing we have to consider is stability and bringing more returns."

Kaier, who was sitting at the top seat, was still a little unwilling, "I understand, but how can you prove that giving the money to them is better? Then why should all the retirement funds be operated by themselves?"

Before 08, the management teams of these retirement funds in the United States were a bit like the investment teams on Wall Street, and they would operate and manage themselves, such as investing in stocks and real estate.

However, the subprime mortgage crisis made large institutions such as BlackRock and Goldman Sachs lose money. These retirement funds handed over their funds to fund management companies and private equity firms, with the proportion suddenly exceeding 50%. The remaining funds were also invested in stocks of large companies such as Google and Apple.

"The problem is that many members have now begun to switch to the California Retired Teachers' Fund and other retirement funds, and a large number of internal members are dissatisfied and feel that there are problems with our management."

"That old guy Stanville is really confident. Where is his value in doing this?"

Is value important? Nowadays, people can earn money just by sitting in the office and playing the role of secretary. Isn’t that great?

The California Public Employees' Retirement System, which was originally managed by Kaier, is the largest retirement fund in California and is among the top three in the country.

But since the launch of Honor Games, everything has changed.

After Stanwell helped the California Retired Teachers Fund acquire 5% of Honor Games' shares, the two sides began further cooperation.

Over the years, through Far East Bank and now Far Eastern Asset Management, the California Retired Teachers Fund has achieved very high growth returns.

All this is due to the successive listing of Far Eastern companies, and Yuanhang Asset Management Co., Ltd. is the destined one to catch every ride.

Over the past eight years, because 8% of the funds were handed over to the Far East for management, the funds of the California Retired Teachers Fund grew at an average annual interest rate of more than %, directly more than doubling the assets of the California Retired Teachers Fund.

Even during last year's stock market crash, the Far Eastern Group helped the California Retired Teachers' Fund outperform inflation, with an annual interest rate of over 5%.

This directly made the size of the California Retired Teachers' Fund leap to the first place in the country, becoming the first retirement fund to exceed $500 billion in size, and it became famous overnight.

Yes, the management fees charged by the Far East Group are high in the same industry, but you can’t resist the fact that they can really help you make money.

Just last year, Stanwell received another substantial salary increase for his wise decision. It can be said that he, who has nothing to do every day except discussing the friendship between Guan and Bao with his secretary, can get a salary of more than 4 million US dollars a year, far ahead of his peers.

Major pension fund managers are both envious and disgusted by his lying-down status.

The envy is definitely the high salary, but the disdain is that Stanwell has no ideals.

Whether to bow to reality or not, this is the problem Kaier is facing now.

There is another person who is facing the same problem as him and has a worried look on his face, but he is not in the United States, but in South Korea.

Early in the morning, a lengthy report in the JoongAng Ilbo made Su Tae-woo, who was in a good mood after recently ascending the throne, break out in a cold sweat.

Heaven or Hell, Love or Bloodthirstiness

Looking at the horrific pictures in the newspapers, Shui Taiyu knew that the situation was serious and that nationwide demonstrations and riots were inevitable if not handled properly.

In the 70s, with the rapid development of South Korea's economy, it became one of the four Asian tigers.

In order to improve its international image and status, South Korea spared no expense in bidding for the Olympic Games.

South Korea successfully bid for the Olympic Games in 1981 and will host the Olympic Games in the summer of 1988, which is this year.

However, although South Korea's economy has risen, its foundation cannot be compared with that of the old major powers. The streets are full of homeless people and begging children, and the gap between the rich and the poor is extremely large.

When the Olympic Games are held, a large number of foreign dignitaries, athletes and tourists will come to Seoul.

If such a chaotic scene were seen by outsiders, it would inevitably affect the country's image and go against the purpose of bidding for the Olympics.

For the sake of the country's reputation, a purification campaign must be launched.

The government then encouraged the establishment of shelters to house these homeless people and beggars, and taught them literacy, basic etiquette, and job training.

This will not only solve the city appearance problem, but also provide a lot of cheap labor for no reason.

Because the expenses of the shelters were borne by the government, dozens of large shelters were established across the country in a short period of time. These large shelters could apply for up to $5 million in funding from the state each year. The more people they sheltered, the more subsidies they could apply for.

But there is a problem. There are only so many homeless people. As batches of homeless people complete their education and leave, the income of the shelter will gradually decrease.

In order to avoid this situation, many unscrupulous shelters have begun to resort to devious means.

While the South Korean government is busy preparing for the Olympics and has no time to verify the identities of homeless people, these shelters are arresting people on the streets.

Unattended children and drunk men are their targets.

Once in the shelter, it is impossible to find these people's homes.

Those who come in will be severely beaten. After they behave themselves, they will not only be relied upon to defraud compensation, but will also be forced to work in illegal factories at night. The most infuriating thing is that those who are beaten to death from exhaustion will have their organs dug out and sold.

Now, JoongAng Ilbo has revealed this through the situation in the Busan detention center.

The photos show beatings, illegal labor, and even corpse burials, which are simply shocking.

Shui Taiyu knew what was going on. He knew very well who owned the JoongAng Ilbo. It seemed that the other party was giving him a reminder.

A reminder can cause such a big fuss. If they fall out, Shui Taiyu can't imagine how much negative information the other party might have, including his own.

"Call Choi Jong-hyun and ask him to come to the Blue House as soon as possible."

The person who tied the bell must untie it. It is difficult for him to contact the Luo family now, so he needs a middleman, and Cui Zhongxian is the best person to choose.

What he didn't know was that the middleman he was thinking of at the moment was sitting at home mocking him.

At Choi Family Restaurant, Choi Jong-hyun is having dinner with his children.

Choi Jong-hyun has two sons and one daughter. Unlike his daughters, his two sons both chose to go into business.

"Father, this matter is of great importance. Do you think it will have an impact on..."

Who is affected? It's his cheap father-in-law Shui Taiyu.

The eldest brother Choi Tae-won has just gotten engaged to someone's daughter. If the other party steps down at this time, he will be in a difficult situation.

Putting down the newspaper in his hand, Choi Jong-hyun glanced at his eldest son and said, "What influence? What influence can he have as a newcomer? Even if a large-scale demonstration breaks out, he can just blame the problem on his predecessor.

They are just killing the chicken to scare the monkey, just to let your father-in-law see the other party's strength. If he still persists in his obstinate behavior..."

Choi Jong-hyun sneered and said, "It's hard to say what will happen after that. No one knows what news the other party has."

Choi Tae-won looked embarrassed and a little scared, "It's a good thing that my father refused at that time, otherwise I really don't know what would happen now."

When Shui Taiyu proposed to cut the interests of Seoul's infrastructure to benefit the Choi family, he strongly agreed.

If Choi Jong-hyun hadn't directly opposed and told him not to mention this matter again, no one knows what would have happened now.

"Don't forget how Chun Doo-hwan came to power. From that time on, people began to expand their intelligence network to South Korea.

The two former US commanders stationed in South Korea have close ties with them, and even some of them are in the army. There are many things we cannot see, but that does not mean those Americans cannot see them.

With this identity, many confidential matters have been made public, and no one knows how much information and secrets of the upper class people he has mastered.

What did I tell you when I asked you to go to SK Infrastructure? Learn more, watch more, and talk less. But you are not giving up even though Chairman Chi is against it. You even come to me to persuade him.

When doing business, you cannot just focus on immediate interests. Many things may seem unrelated, but in fact they are all interconnected, and one move can affect the entire body.

If this matter is handled as you said, the other party will definitely have some dirty laundry on our Cui family, and then there will be internal power struggles and attacks on corresponding industries.

There are countless families in South Korea who want to replace our Choi family. By then, the number of families willing to be their lapdogs will be enough to fill the Han River."

I know my words were a bit harsh, but the family heir must be treated strictly.

“Don’t listen to the dirty talk out there, and don’t let it affect your rationality.

Lackeys? Don't they want to be? It's just that they don't have the opportunity.

As long as we are the number one family in South Korea, this is not a problem.

No matter what they say behind your back, they will still kneel down and lick you like a lapdog when they meet you."

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"Yes, father, I understand."

Just as Choi Jong-hyun was educating his son, the housekeeper came over and said, "Grandpa, there's a call from the Blue House, asking you to come over quickly."

"Hmph, it seems that our new boss is scared. He starts to tremble when someone threatens him."

It can also be seen from Choi Jong-hyun's words that these chaebols really don't take Su Tae-woo seriously at the moment.

If Choi Jong-hyun's relative is like this, let alone the others.

Democratization, what a wonderful word it is for people like them.

On the way from Choi's house to Cheong Wa Dae, we could already see the parade procession gathering.

All we can say is that public resentment is boiling and public outrage is high.

The number of missing persons in South Korea has been increasing over the past few years. It turns out that these are all insiders who are making money from blood donations under the guise of a fancy banner.

Thanks to the government's vigorous promotion and encouragement of donations from the people, it turned out that my family had unknowingly become accomplices.

Choi Jong-hyun still underestimated the number of people participating in the demonstrations. When he arrived at the Blue House, he learned that protests had broken out across the country, demanding that the government investigate the matter thoroughly.

Especially in Busan, where the Busan Welfare Institute that was exposed this time is located, more than 100,000 people gathered in one morning, and the team is still growing.

"I won't waste any more words since we're just two people. I called you here to plead for mercy. I will demand severe punishment for this matter, but I don't want any other trouble to arise."

Other incidents? Isn't it because he is afraid that some of his dirty laundry will be exposed?

"Please rest assured, Mr. President. I will do my best to deal with the Luo family. However, I do have some suggestions regarding the Busan Welfare Home."

"Oh? Tell me about it."

"Why don't we let Lee Mi-ji take charge of this matter? In addition to the Busan Welfare Home, let her conduct a thorough inspection of all shelters across the country. Then it will be natural for her to be transferred back to Seoul and promoted to the position of minister."

"Minister?" Shui Taiyu looked at Cui Zhongxian hesitantly.

"If I remember correctly, she is only 30 years old this year? Will it cause criticism if she is so young and qualified to be the director of the High Prosecutor's Office?"

The minister is the third most important person after the deputy minister and the chief prosecutor.

There are only five high-level procuratorates in the country. In other words, there are only five ministers, who are considered to be in high positions of power.

Cui Zhongxian smiled and said, "You don't have to worry at all. She has always been known as the messenger of justice and the most beautiful prosecutor in South Korea.

The people trust her, and the opposition party is not afraid of using this matter to make trouble. The most important thing is that we can show goodwill through this matter.

And it is not necessary to be transferred back to Seoul where there are many people and eyes. It would be good to be promoted to the next level in Busan."

Choi Jong-hyun's move is not only to help Shui Taiyu, but more importantly for the future of the Choi family.

Through this incident, he also realized that the Luo family had already completed the initial layout in South Korea. Even if the United States forces would come in heavily in the future, it would only be a fight between two tigers.

Now that they have a stable backer, if they can't get more, the bigger the Luo family becomes, the more stable the Cui family will be.

Transferring Lee Mi-hee to the Seoul Prosecutor's Office is helping himself, and the same is true for nominating the former president of JoongAng Ilbo to enter the South Korean National Assembly.

"Okay, I'll listen to you on this matter. It's settled."

Shui Taiyu was very efficient and gave a speech on South Korea's three major TV stations at noon that day.

In addition to putting all the blame on his former good brother, now his enemy, he also blamed himself deeply for not supervising the matter well.

"I have already issued an order to transfer Prosecutor Lee Mi-hee of the Busan High Prosecutors' Office to be in charge of this matter, and it must be handled quickly and strictly.

We will inspect not only the Busan Welfare Home, but also the entire country, and will not tolerate any illegal behavior once it is discovered."

The one who was more efficient than Shui Taiyu was Lee Mi-ji. When he was holding a press conference, Lee Mi-ji had already led more than 30 people from the Busan Public Security Team, Criminal Team, and Power Team to raid the Busan Welfare Home.

After a day and night of investigation, the initial report of the investigation was placed on Shui Taiyu's desk the next morning.

Even he, a good guy, was shocked after seeing the result. It was really shocking.

"Hold a press conference to announce the results of the investigation and state that we will conduct a thorough investigation to give the South Korean people a clear answer."

When the press conference was held, the whole of Korea was in an uproar. Hundreds of bodies were buried in the back hill of one orphanage alone.

According to insiders, this is not all. Many intact corpses are sold to hospitals for research, and many children are trafficked overseas.

Like Shui Taiyu, Luo Nianzhong also received the report from Li Meiji as soon as possible.

However, this report is obviously different from Shui Taiyu's, and is much dirtier and darker.

It turns out that the Busan Brothers Welfare Home colluded with the government and the police in order to "shelter" more homeless people.

For example, the bribes given to the police are linked to the number of vagrants, so the police are arresting people crazily. Even if you are just taking shelter from the rain under a bridge, you will be arrested.

Not to mention those officials, more than half of the investigation team formed this time were involved in this matter.

"It's okay, no one is stupid enough to just kill Li Meiji."

"It's useless to kill him. This matter has already happened and it's impossible to suppress it. Killing a prosecutor will only make the matter worse.

But this is better, we have leverage over 80% of the officials in Busan now, right?"

"Haha, let's not talk about this anymore. How are the wedding preparations going?"

"It's just a ceremony."

Jason doesn't take marriage seriously. He came back this time just to get married.

Jason and his fiancée Jennifer have been engaged for seven or eight years, and normally they should have gotten married a long time ago.

However, due to the rapid development of Far East Group and Jennifer's career being on the rise, the two kept dragging it out, and the parents of both sides were so anxious that they thought there was a problem with their relationship.

If Jason's grandfather, Jackman Flick, the current vice-president of the Hong Kong University of Science and Technology, the dean of the law school, and Jason's grandfather, hadn't mentioned this, Luo Nianzhong would have forgotten that Jason was not married yet.

So, based on the principle of compassion for his subordinates, he gave Jason a special vacation, and Jason could only come back to work when the vacation was over.

Although he is basically not in the Far East Group now and is in his own law firm every day, he can feel the kindness.

For the major families in California, the biggest event recently is that Jason Felix, the next patriarch of the Felix family, is going to marry Jennifer Vincent, the apple of the eye of the Vincent family.

Needless to say, Jason is the legal director of the Far East Group, the largest consortium in the East, and is deeply trusted by Luo Nianzhong.

Jennifer is not bad either. She became a judge of the California Court of Appeal at a young age and is the rising star of the Vincent family.

The United States' court system is complex and is divided into federal courts and state courts.

The federal courts are divided into three levels: district courts, courts of appeals, and the Supreme Court. The justices of the Supreme Court are the nine life-long justices.

The same is true for each state, with three corresponding court levels. This is because the laws of each state are different, so many cases in the federal local courts cannot be heard, and the number of courts established is also very small.

The patriarch of the Vincent family, Jennifer's grandfather, is a judge of the Federal Court of Appeals. There are only 13 to 15 of them in the country, and the next level up is the Chief Justice.

Jennifer is now a judge of the California Court of Appeal, and it is very likely that Luo Nianzhong will get her transferred to the Colorado Supreme Court in the future.

A family of lawyers and a family of judges, the powerful combination can be said to be a match made in heaven.

It is certain that the two families will move up a level in the future, so many upper-class people in California want to strengthen their relationship at this wedding.

(End of this chapter)