Chapter 631 Surfaced
Bank of England, a British-controlled multinational investment bank and financial services company, has a history dating back to 1865.
Its business covers several continents. In the past few years, it has expanded rapidly around the world. Its total market value has continued to soar. The scale of assets under management has expanded from US$1980 billion in 473 to US$2.35 trillion today. It holds a large number of subprime products that are touted as very safe by Wall Street. It also conducts housing loan business in North America.
As early as early January this year.
In fact, Huifeng Bank has announced that it will increase its provisions by US$35.73 billion due to the US subprime mortgage problem, and issued a warning that the provisions may increase significantly.
However, the news seemed to be suppressed at the time and did not cause much stir in the market.
Combined with the news provided by President Wei that Huifeng Bank was about to report losses, it was enough for Fan Wumian to realize that this bank had too many bad debts in North America, and the scale was so large that it was almost impossible to conceal it. Now all he needed to do was to wait patiently.
When it comes to the American media’s ability to cover up things, no other media in the world can match it.
For example, the "electronic cigarette white lung disease" that occurred more than ten years later. Any discerning person could guess what was going on at a glance, but there was no news for a few months, and the situation was allowed to develop to an irreparable state. In the end, the blame was put on Asia.
Just like those rating agencies that get paid to give high scores to junk subprime mortgage products, they have no credibility at all, yet they can still attract countless people to cheer for them.
From the media to rating agencies, to the military and currency, everything has become a tool for the United States to gain benefits for itself, and the word "interest" is behind it all.
Fan Wumian had long since let this go. He understood that unless some of the capital giants hiding underwater were ready and decided to start working together, the huge mines buried in the subprime mortgage market might continue to remain buried for a long time, enough to make countless short sellers cry.
When it comes to the intensity of intervention in the financial market, the United States is actually no more relaxed or free than the mainland. The only difference is that one is controlled by the Federal Reserve and Wall Street, while the other is dominated by the government.
The current situation is that the collapse of the subprime mortgage market is too destructive, and many American companies and institutions are still trying their best to save them. It is estimated that only when the situation deteriorates to the point where it is completely unsustainable will this hidden mine really explode and overturn the global economy.
Therefore Fan Wumian was not in a hurry.
He personally and the Hong Kong City Bandit King Fund only used 70% of the funds on hand to build positions, and leveraged through securities lending and individual stock options markets to short Huifeng Bank and the largest subprime mortgage company in the United States, American Financial Services Corporation, and the second largest subprime mortgage company, New Century Financial Corporation.
A few more days passed.
While waiting for Huifeng Bank to collapse, the time seemed to be extremely long.
To pass the time, the tormented Fan Wumian went to Singapore to hold his third solo concert, then returned to Hong Kong to revise the scripts of "The Chaebol's Younger Son" and "Why Secretary Kim". He plans to star in these two TV series himself, one this year and one next year.
There is also "The Desolate Emperor". He spent three days saving seven chapters of manuscripts, and for this purpose he specially hired a secretary with a very fast typing speed to help.
Fan Wumian was responsible for dictating, and the other party helped to type out the text, which increased efficiency by at least 30%. Apart from using up brain cells and having a bit of dry mouth, his hands and waist were not tired.
At noon on February 2007, 2.
Fan Wumian was resting on the yacht when Pu Jiajing came over to report:
"The person from the consulting company replied that it would indeed take about 3500 million to settle Miss Xue's bad debts and get the company running again."
"After discussing with the bank, we can cancel the late payment fees. As long as she continues to repay the loan, the seized factory and equipment will be returned to her family. The lending company also promised to reduce the total interest to 150 million as long as she pays off the loan in full, which means she can save three or four million in high-interest loans."
"Boss, you are really willing to spend a lot of money to pick up girls this time."
Fan Wumian hummed softly and explained:
"It's okay. This money is not given to her for nothing. I will invest in her company in the form of financing."
"Once a financial crisis occurs, the mainland will likely choose to stimulate the real estate and infrastructure markets in order to boost economic growth. At that time, whether it is a mixing station or a cement production plant, there will be a chance that the price will rise sharply, and you can make back your investment with interest."
"Forget about the fleet and the window and door factory. The entry barrier is too low and the profit scale is limited. Even if I work hard to get it back, I won't make much money. Don't forget, no matter who asks, I am just looking for bargains and happened to invest in her company. Miss Xue and I are innocent, so don't let it slip."
Pu Jiajing said with disdain:
"You are so innocent. How dare you say that? Could it be that you put your hand inside her clothes just to help scratch her itch?" Fan Wumian was like a dead pig that was not afraid of boiling water. He replied without any emotion after hearing this.
"She wanted to devote herself to saving her own company and escape the control of the old man next door. I was a little moved after hearing that. I don't know why she suddenly sat in my arms. Before I could react, you bumped into her. I was stunned at the time. If you ask me about the hand, it might just be a habitual action that is not under my control at all."
If Xue Shiyun hadn't been unwell a few days ago, maybe something might have gone wrong. After all, when the girl took the initiative to sit in his arms, the atmosphere was immediately full. Countless examples have already proved that his weak spot cannot withstand a challenge.
Pu Jiajing already knew the whole cause and effect of the incident.
Finally, I had some sense and realized that it was not my business to interfere in my boss's private life. I didn't continue to dwell on this topic and just asked:
"So after she finishes dealing with her family affairs, what will she do next? Will she really come over to accompany you for a few years?"
Having considered this issue in advance, Fan Wumian said decisively:
"She has such good conditions, there's no need to waste them. She's 1 meters tall and has very long legs. She should try to debut as a model or become an internet celebrity to help me pay off my debts. She went to Canada in high school and speaks very good English, similar to Ying Er. If we sign her, we'll have a chance to make money from the international market."
It can be seen that Fan Wumian is still determined to keep the other person by his side.
Pu Jiajing just nodded:
"Then I'll ask the company to prepare and ask Miss Xue to sign a contract. Boss, how long do you think it would take?"
"Let's set it at 10 years first, and give her 20% of the profit, so that she won't be accused of bullying and exploiting me."
The company has abundant resources and is willful. In order to find a way, Ying Tian's financial sponsor is spending money everywhere to support his girlfriend.
Fan Wumian, on the other hand, casually gave others opportunities that they only dreamed of, and didn't take them to heart at all.
Two more days passed.
After having a small gathering in Gangcheng with Zuo Ziyan and Zhuang Muxi who were on winter vacation, Fan Wumian flew to Yanjing, ready to attend this year's Spring Festival Gala as invited and record a blessing video.
He did not perform on the Spring Festival Gala this year, but Gangzi and Uncle Qian from Deyun Society, as well as Jane Zhang who was highly praised by Fan Wumian, all got solo performance opportunities.
In order to find an excuse to wish Fan Wumian a happy new year in advance, Jane Zhang stayed at his house for a few hours. The next day, Gao Yuanyuan came to visit, coming in the morning and not leaving until the evening.
Later I realized that there was still a lot of important things to do. Even Fan Wumian, who was addicted to flirting with girls, felt that his current colorful life was a bit too much and began to wonder whether he should completely break up with someone.
However, after thinking hard for a while, he found that the girls around him were all considerate and rarely caused him trouble. Even if they only saw him once every few months, they had no complaints and at most would act coquettishly.
This put Fan Wumian in a dilemma and he felt it was extremely difficult. He simply continued to enjoy himself while he could and hoped that things would work out in the end.
Taking advantage of the time before the New Year to travel around, there was an endless stream of people coming to visit Fan Wumian. During this time, they also visited the Antarctic Spirit Realm Penguin City and the Deyunshe Crosstalk Base.
In order to meet the deadline, the former did not stop work during the New Year and paid the workers triple their wages, encouraging everyone to stay voluntarily.
It's not that Fan Wumian and Xiao Ma Ge are unkind, it's just that the construction schedule is too tight and they can't delay for even a single day.
On New Year's Eve.
As if deliberately causing trouble, Huifeng Bank's headquarters issued an announcement saying that it would increase bad debt provisions for its subprime mortgage business in the United States by US$18 billion. American Financial Services, the largest subprime mortgage company in the United States, also announced that it would reduce lending.
These two pieces of news came one after another, which seems to indicate that the subprime mortgage risks have finally begun to surface. (End of this chapter)