Vol 6 Chapter 273: committed to

The conversation once again returned to the subprime mortgage crisis, but this time, Feng Yiping did not directly answer Paulson’s question, “How does Mr. Minister think about this question?”

Although he sips "Mr. Minister," his previous remarks can be unceremonious, coupled with this rhetorical question, it seems that he is really not too respectful.

It's not that he is arrogant, but this is actually a song to some hill.

In a society that worships personality like the United States, sometimes, if you are too gentle, not only will it not help to solve the problem, but it may give people a reason to be more advanced.

Not to mention Wall Street's attempt to use the release of Android to achieve the purpose of investing in Facebook, etc., but now, because the prices of real estate-related securities are already a little stretched, they are trying to fail to fulfill the credit default mutual agreement signed by Feng Yiping. The exchange of agreements and greetings have already reached Paulson.

If he doesn't express his opinions hard and clear-cut, those guys will definitely think he is weak and deceptive.

Besides, Feng Yiping can actually see clearly through Jobs.

In the United States, as long as you have the strength, then, no matter how unruly, no matter how bad-tempered, no matter how not dealing with, you will still get the support of the people and the admiration of the elites.

Simply put, what Paulson values is not Feng Yiping's good temper, but his strength.

With his current strength, a better attitude is naturally better, and a worse attitude, Paulson can only smile and forgive.

"Do you know why I have always had insomnia recently?" Paulson did not take Feng Yiping's attitude to heart, "because, I agree with your opinion, and I also think that the crisis has not yet passed."

"However, I cannot currently draw a reliable judgment on the scale and intensity of the crisis,"

"But I think there are only two possibilities. Either the intensity will be so great that we can't imagine it will completely destroy our financial industry, thereby destroying our economy and destroying our country."

"Or, as Bernanke expected, the impact of the subprime mortgage crisis on the market is limited and controllable,"

"I appreciate Bernanke's optimism," Feng Yiping said.

Paulson smiled. He also hopes that things can develop like that, but the reality is very cruel. As long as you learn more about relevant consultations, such as the situation of his classmates, you can clearly realize that there is no such thing. Can make people feel optimistic soil.

Sitting in the position of Minister of Finance, he naturally hopes that the gaffe will develop in a good place, but in order to do everything, he must prepare for the worst result.

In the face of such a crisis, it is not an exaggeration to make careful preparations.

If by any chance you are not fully prepared, or if you miss the best opportunity, then you will definitely pay a very heavy price.

"According to your conclusion, it is obviously inclined to the former possibility, that is, this is a serious crisis that may destroy our financial industry, real economy, high-tech industry...completely destroy our economy,"

Feng Yiping nodded, "Although I don't know exactly when this severe storm will come, I know that it will come because I don't see any positive factors at all at present,"

"The stock market is falling, capital is fleeing abroad, asset price bubbles dominated by housing prices are serious, corporate debt defaults have risen significantly, and the growth rate of residents' income has fallen sharply..."

"There is no optimism for these signs that detonated the financial crisis,"

"I'm sure that when we talk, the crisis is deepening,"

Paulson's palms arched in front of him like a pyramid, closed inward, leaning forward, looking at Feng Yiping from the top of his glasses, "According to your inference, next year, the crisis will be full of strength and burst out completely. Year,"

"So, what I don't understand is, why do you say that the crisis will end before the end of 2009?"

"Mr. Minister should have guessed the reason for what I said, didn't he?" Feng Yiping said.

"That's a crisis big enough to destroy everything," Paulson said. "I'm really a little uncertain about how you can be so confident."

"Because the crisis energy is so great that it can destroy everything, we must not be able to withstand such consequences. Therefore, it is possible for us to actively and decisively adopt a strong rescue policy," Feng Yiping said.

"And you, Minister, you are the most suitable person who can receive such a rescue operation," Feng Yiping gave another little sigh.

"Save the market..." Paulson groaned.

Frankly speaking, in his current plan, there is no plan to bail out the market by himself, because the United States is a free economy country and has always pursued a policy of non-intervention in the market.

Feng Yiping's "powerful rescue" policy is naturally an unprecedented intervention in the market.

"Let's not go far, just say, from the beginning of the 20th century to the present, the similar crises that Wall Street has experienced, are there few?"

"Of course, it is estimated that many people on Wall Street have forgotten these painful lessons."

"All day long, many people don’t even know how to get such a high salary that they feel unreal. Naturally, they don’t think about history. Although it is not a simple repetition, it is always Surprisingly similar,"

"From past experience, the center of the storm is the financial institution, that is, the financial crisis caused by the financial institution. The impact is the most extensive and the intensity is particularly strong."

"From past experience, we can also draw a conclusion that whenever we adopt an active bailout policy, the financial crisis with disastrous consequences can be controlled within our acceptable range, and we can also be very Start again from the crisis and recover soon,"

"What are you talking about?" Paulson recalled the previous financial crises.

"I'm talking about the panic in 1907," Feng Yiping said. "At that time, because of Mr. Morgan's active rescue, the crisis was not only alleviated, but in 1908, the market quickly recovered to the pre-crisis level."

The financial crisis of 1907, in the United States, was also called the first panic.

There are many similarities between that crisis and the current situation.

However, the first bankruptcy was the main financial business at that time, the trust company.

At that time, more than 300 trust companies went bankrupt, and even the New York Stock Exchange almost closed down.

At that time, the United States did not have the Federal Reserve, but fortunately, the financial giant Morgan came forward. He provided loans to financial institutions in need of funds to buy the stocks in their hands... It can be said that he did his own work to calm the entire United States. There was a severe financial crisis that panicked.

"The Federal Reserve has been established for hundreds of years. After 100 years of development and accumulation, the United States has become more powerful than unknown at the time. It is impossible not to do what even Morgan could do in the first place."

"Oh," Feng Yiping nodded exaggeratedly, "maybe the heads of some domestic institutions, those rigid dogmatists, think that they are interfering in the market, so they should not save the market."

"Mr. Minister, it seems that the resistance you will encounter next will be very large. As far as I know, the lady on Capitol Hill has been criticizing China’s economic policy and should definitely not let you take corresponding measures. Measures,"

Paulson took a look at Feng Yiping. He knew that the lady Feng Yiping said was the Speaker of the House of Representatives Pelosi.

As for Feng Yiping's mention of her at this time, he thought it was because of her consistent position that every China must be opposed.

Thinking about how he might encounter her firm opposition in the future, he was a bit like Feng Yiping at this time. Putting such an immature person in such a position is indeed not good for anyone.

"Feng, thank you for these suggestions. Regarding your fund..."

"That's not my fund, it's a fund jointly established by Jobs, Page, and Brin," Feng Yiping emphasized.

"For this fund, I want to convince the three of them that in the short term, it will not dissolve, or never dissolve,"

"I hope that I can use this fund to contribute to the rescue operations that will surely happen in the future."

"As long as you need it by then, I can raise more funds,"

"You and I all know that in such a crisis, one of the most important issues is to raise a large amount of capital to invest in the market, and the liquidity problem has been solved~www.wuxiaspot.com~ I will try to convince them and accept us Wall Street companies that have signed large credit default swaps use other methods to pay our earnings,"

"When the crisis breaks out completely, we may also acquire stocks and related securities..."

"Do what we can to help quell this crisis,"

Feng Yiping said that, of course, it is not the spirit of communism.

First of all, if there is support from Paulson, who is both the Secretary of the Treasury and a very influential figure on Wall Street, the income of their fund will naturally have a higher guarantee.

Secondly, such responsible behavior can naturally increase the goodwill of the US government and the American people.

This is undoubtedly an extra guarantee for his company.

Finally, everyone knows that in such a crisis, it is actually a time to pick up the bargain, which is what we call a good time for bargaining.

Why not do such a good thing with multiple benefits?

"Because we all know that in the event of the collapse of the big market, our own company must never be left alone,"

Paulson's eyes had already lit up.

Feng Yiping's fund has an initial capital of 4 billion U.S. dollars. According to this trend, the value will be at least 20 billion.

This is not a small number.

The point is that there really is no such active company as Feng Yiping.

Even those banks have to do their work again and again before they can allocate some funds to set up a rescue fund.

He really hopes to have an example like Feng Yiping.

He stood up a little excited, "Thank you, Feng,"