Vol 6 Chapter 787: Gunpowder flavor 10 feet

Tuesday, February 17.

In the morning, looking at the large group of reporters gathered and the OB vans that were arriving one after another, the members of the various roads behind the windows were full of energy without having to drink coffee.

They are eager for these two things like Hollywood stars, and they have not appeared so densely on Capitol Hill for some time.

But a few months ago, here, similar scenes were not uncommon.

Since the third quarter of 2008, with the outbreak of the subprime mortgage crisis, the disturbances and hustle and bustle have also been included here.

In fact, in the subprime mortgage crisis, the number of exits here is extremely high.

In the early days when subprime mortgages were not clear, lawmakers held hearings to discuss whether there was a systemic crisis in the financial system; in the mid-term when subprime mortgages were already clear, they held hearings again to discuss whether the crisis would continue or, Has it become a thing of the past?

The busiest thing is the latter period marked by the subprime explosion. Members of all walks of life, while clearing themselves of their previous acts of adding fuel to subprime loans, quickly turned into messengers of justice to defend the interests of the people. Representatives of, brought a number of senior government officials and business executives to the court one after another.

At the beginning, such hearings attracted a lot of attention. At that time, it was often the same outside as it is today. The live broadcast on C-SPAN TV station also had high ratings.

Unfortunately, it didn't take long for the situation to take a turn for the worse. Although they still enjoyed it, fewer and fewer reporters came, and the broadcast vehicle was even harder to find.

Why is this happening? The deputies actually know the reason, because the public has long been short of interest in such hearings.

Why is it so? They are also clear.

Because the hearing comes to the hearing, the public cannot first understand how the subprime mortgage happened.

At the hearing, the Federal Reserve said that our monetary policy is correct and our supervision of banks is also strong; Wall Street said that our financial innovation is successful, including the securitization of real estate mortgage loans, which have been achieved globally. Has achieved huge economic and social benefits...

Not only that, those representatives who came to the hearings also called out grievances one after another. Whether it was the Federal Reserve, Wall Street, or other government regulatory agencies, such as the Securities and Exchange Commission, they all felt that the cause of subprime loans was attributed to them. On their heads, it was really wrong, and they were simply dead.

Including Lehman Brothers, which is considered to have completely detonated the subprime mortgage crisis. At last year’s hearing, Fuld cried out in tears, "We didn’t have to go bankrupt, but our situation is actually very good. I’m sure , I won’t understand until I die, why they rescued Bear Stearns, but didn’t help us,"

So at the end, those people who suffered property damage in the crisis, or who lost their jobs, lost their houses, and owed a large loan to the bank, and went bankrupt. Look at me, I look at you, so you blame us Huh?

So who is looking at this patiently?

After that, in addition to Paulson and his team, the hearings during the implementation of the rescue plan received some attention, and the other hearings, and more, were just the complacency of the congressmen who wanted more attention. Not many people would care at all.

At this moment, looking at so many reporters and OB vans gathered on the mountain, the members of the Financial Committee of the House of Representatives were full of energy, and the other members of the Diet, many people inevitably were a little bit sour, Barney Frank. Old guy, it's so special in terms of clearing yourself and blogging attention!

But at the same time, it's not without concealing evil intentions. Feng Yiping's influence is really not to be underestimated, so Frank, if you play off this one, the fun will be great.

He even set the hearing after President’s Day (yesterday, which is the third Monday of February). It seems that it has something to do with it. It means something to win?

Frank, the principal who is envied and envied by others, is very at ease at this time. In the affiliated office, he is still busy as soon as he goes to work, but he has his feet on the table, listening to music and drinking. With coffee.

The high-up leather shoes were still tapping to the rhythm of the music. When they saw some dust on the shoes, the chairman seriously wiped them with paper.

That way, it looks more like a few minutes later, he will be off work and enjoy a relaxing time, not at all as if he is about to lead a very challenging hearing.

Or according to our old traditions, he is undoubtedly very general.

At 9:10 in the morning, several cars came in file. Looking at the reporters from all walks of life running like they heard the sound of the starting gun in a track and field game, Feng Yiping smiled and said, "It's time for us to play. Everyone,"

He stood by the car and waved at the reporters, but soon he had to squint his eyes, this flash!

In the next moment, he was struggling even to keep smiling, because he had been overwhelmed by the crowd.

When breaking through under the cover of security personnel, they probably only remembered the various names that reporters from all over the world called themselves, "wind", "fen", "om"... and even "red".

I am very red.

There is also a very standard "Feng", he vaguely heard someone shouting "Ms. Feng,"

Glancing in that direction, I found that it should be a reporter from CCTV stationed in Peanut Tun. He couldn't hear what they said. Just looking at them should be a sign of concern and condolences.

Feng Yiping nodded at them.

In fact, the Chinese media that came here were not only CCTV, because of Feng Yiping’s identity and because he was the first of the well-known domestic entrepreneurs to testify in the U.S. Congress. The country also attached great importance to this hearing. The big portal has also sent people, and the text live broadcast has been opened at this time.

In China, where it is already more than ten o'clock in the evening, many people are watching this hearing on the other side of the ocean through their live broadcast.

At this time, in the White House, spent a small vacation, playing a few rounds of golf, the little O’Hare, instructed the secretary Katie, “Call me when it’s exciting.”

Today's hearing is planned to be 3 hours, so he can't pay attention to it.

…………

At 9:20, Feng Yiping arrived at the hearing.

The venue, which can accommodate about a hundred people, was already full at this time. Seeing one of the protagonists coming in, it suddenly became a sensation. Someone shouted, "Feng, we support you!"

Feng Yiping walked in with a smile, and Cummins asked again in his ear, "Do you really want the lawyers to accompany you?"

Feng Yiping shook his head and walked to his seat.

It was a lonely table in front of the auditorium. Opposite it was a high platform. On the stage, there were three rows of arc-shaped long tables equal to the length of the conference hall. That was the seats of the deputies. At this time, there were already some assistants. People are busy on it.

Feng Yiping hopes that the guys above will be there soon, because there are so many long guns and short cannons that are shooting at him at close range, some of them are just in front of his nose-is this a close-up of my nose hair?

At 25 minutes, the congressmen entered the stage one after another. Feng Yiping immediately saw Barney Frank. The hair was almost completely white. He was probably too busy to take care of it. So now the old gentleman with a beard is holding a thick When his folder walked to the middle of the front row and sat down, when he met Feng Yiping, he did not forget to smile and greet him.

An old gentleman who looks very kind.

It should be said that after the subprime mortgage crisis broke out, Barney Frank's work was really fruitful.

For example, no one can remember his nickname, "Member from Fannie Mae".

The reason for this nickname is that he had long prevented the reform of the "two housing estates". He said in 2003, "I don’t want the Office of the Comptroller of Currency and the Office of the Savings Commissioner (two major financial institutions under the U.S. Department of the Treasury but operated independently). Regulators) emphasized safety and stability. I would like to roll the dice farther in terms of subsidized housing."

Therefore, many people, including Feng Yiping, are aware that this congressman who is now actively preparing to liquidate the responsibility of subprime mortgages, in fact, like those on Wall Street, bears an inescapable responsibility for subprime loans.

He has been endorsing the two housing estates in the past, and obstructed related supervision and reforms, which greatly increased the real estate bubble, which also increased the power of subprime mortgages.

But now, most ordinary people would never think of this ~www.wuxiaspot.com~ This is a very skilled politician.

By 9:30, all the MPs who attended the hearing were already seated. This is a very impressive lineup. The Financial Committee of the House of Representatives has 60 members, and 47 of them attended today.

Xiao Ohei, who was in a meeting with Chief of Staff Emmanuel, knew this number when he signed the document handed by the secretary. He mumbled, "This is very important!"

Of course, such a lineup really pays special attention to it. Generally, there are only a dozen or twenty people. So many people are present today, naturally because, on the other side, Feng Yiping.

The host of the hearing stood up, "Next, I would like to introduce the witness, Mr. Yiping Feng, chairman of Jiasheng Group, founder of NEXTDOOR,"

Feng Yiping smiled and greeted the audience.

"Sir, our committee has such a custom that all witnesses must take an oath," the host said to Feng Yiping, "please raise your right hand and take the oath with me."

Feng Yiping stood up and raised his right hand, "I swear that everything I say is the truth, all the facts, without any concealment."

As soon as Feng Yiping sat down, Barney Frank, who was the chairman, began to speak, “First of all, we welcome our witness, Mr. Feng. We know that you are participating in this hearing voluntarily. This also demonstrates your importance and financial importance to this hearing. Taking security seriously, thank you very much for volunteering to participate in our hearing,"

Feng Yiping smiled and looked at Barney Frank, who was behaving very mildly at this time, come on, don't rectify these falsehoods.

Barney Frank was very cooperative and asked in the next sentence, "Mr. Feng, accepting Madoff’s US$5 billion investment, you said it was to preserve the property of those who were deceived. Is that really the case? You have no other ideas, such as, Revenge for Madoff who tried to lie to you?"