Half an hour later, Solomon was sitting in the main seat of the conference room. At this time, the last member opened the door and came to his seat. When he saw that everyone had arrived, Solomon said something.
"Let's start the meeting now."
After the words were finished, a table was projected on the large screen on the projection screen.
The table shows the fiscal deficit data of European countries. Obviously, when the subprime mortgage crisis is in full swing, Goldman Sachs is eating from the bowl and looking at the pot, and has found a new job to do.
"Everyone, Hans Industrial Bank (ikb) is close to bankruptcy. I believe that in a while, European banks will set off a wave of bankruptcies. It seems that we are also entering the harvest season in Europe."
In fact, the problem in Europe has been around for a long time. Because the banking market is highly saturated, the competition is not as great as usual, and the lending business is difficult to do. This has led to low long-term interest rates and less money, so most banks Banks are looking for projects with low risk and high returns.
There is no way. In the highly competitive market, banks have no business and can only invest heavily in securitized assets. However, CDOs also belong to the category of securitized assets. . .
Then the subprime mortgage market in the United States came into everyone's eyes, and now, haha.
By the way, European financial institutions are also the main ones taking over the blame. Among other things, Zurich alone lost more than 100 billion U.S. dollars. How many gambling contracts did other financial institutions sign when a group of people in the United States ran away? Too many to count.
The ikb mentioned by Solomon just now has been supported by many investment banks on Wall Street for more than half a year. Because the other party is their major customer, it is coaxed by a group of people on Wall Street to buy subprime bonds every day, and now this group The investment bank that always claimed that "the customer is God" has long since disappeared.
"In the past five years, labor costs in Eurozone countries have been stable except for Niuguo and Hans, fluctuating only around 3%. The average wage level in other countries has increased significantly, with Italian profits at 37% and Franchise at 45%. %, Ayr Blue 48%, Grape 49%, Syrah 61%.
Moreover, Ou Meng no longer has his own central bank! "
After this explanation, everyone's eyes lit up. After the euro was issued, a great contradiction emerged between decentralized fiscal policy and unified monetary policy. After all, the development of various players in Ou Meng was uneven and unified. Monetary policy will only make the contradiction between strong countries and weak countries more and more prominent.
The euro's monetary policy may complement the strong players, but the weak players cannot use currency depreciation to form an external surplus, because it is not up to them to decide whether the euro depreciates or not. However, this will increase the fiscal deficit and widen the gap with the strong players. .
In the past, these problems were covered up by the rapid economic growth, but now under the global financial tsunami caused by subprime mortgages, all kinds of problems have been exposed. Weak players want to free ride on the strong players and rely on Ou Meng's internal Strong players come to the rescue, which is also an opportunity for Goldman Sachs.
They had already made arrangements among Ou Meng's weak players. For example, Sheila has been using the "currency swap transaction" tailor-made for her by Goldman Sachs, which can cover up large debts and make herself satisfied on the books to enter Ou Meng's market. standard, but Goldman Sachs knew it was always a ticking time bomb that would explode after the swap term expired.
But Solomon raised a new question.
"Gentlemen, there is a problem before us now, that is, the swap period will expire in two years. The early outbreak of the subprime mortgage crisis has completely disrupted our plans, so we have to re-plan!"
"It doesn't matter, we can also make this bomb explode in advance!"
Originally, according to the plan, the subprime mortgage outbreak was supposed to happen at the end of next year, and then the global economy went down and some European countries had debt problems. If there were no external shocks, it would be slow to rely on strong countries such as Niu Guo, Hans, and Gaul to provide relief. The milk will come back slowly, but at this time, Sheila's currency swap period has expired, and it will explode all of a sudden.
However, even if the plan is disrupted, a group of people at Goldman Sachs don't care much. They just want to do more things. They have joined forces with the three major credit rating agencies, S&P, Moody's and Fitch, to directly seize the currency and seize the time bomb of the swap period. black.
Although the effect may not be as good as when it matures, this is just a primer. As long as Sheila has this business, the debt problem she has concealed will be exposed and cause market panic.
At this time, Goldman Sachs has purchased a large number of CDS contracts anchoring Sheila's debt from many banks in Hans, Niu, and Gaul, and is waiting to reap the profits after the bomb explodes. They can even join forces with other Wall Street people to sell Sheila. Various physical assets of this country are used to pay debts.
"Very good, now start paying full attention to Ou Meng's various information, as long as Sheila has something..."
But before Solomon could finish his sentence, someone suddenly interrupted him.
"Wait a minute, Solomon, I think you should read the latest news from Asia!"
Everyone saw the person who made the noise holding his smartphone with an incredible expression on his face.
Solomon made a sound and quickly took out his Love Crazy-2.
Well, after nearly half a year of integration, Cook finally integrated the second-generation product of Ai Feng with the support of a group of people in Silicon Valley.
Although it still cannot be compared with the configuration of the prehistoric universal version, at least it will not be a big generation gap. With this foundation, the American smartphone industry is on the right track, and subsequent upgrades will not be necessary. It was as rushed as this time.
With the support of the North American market, they have stabilized their position for the time being.
However, a group of people at Goldman Sachs did not know the sad experience in Silicon Valley. They just wanted to know what big news was happening in Asia. As a result, after seeing a few headlines, a group of people suddenly became furious.
“Due to the subjective and unfair ratings of subprime-related financial derivatives by the three major credit rating agencies S&P, Moody’s and Fitch, ASEAN stated that it will conduct a thorough credit assessment by the three major credit rating agencies S&P, Moody’s and Fitch. "
"ASEAN has accused Quantum Fund, Goldman Sachs, Morgan and other Wall Street financial institutions of 'irregular transactions', and plans to conduct a thorough investigation of these financial institutions' domestic branches in ASEAN countries. These financial institutions will face suspension of business within ASEAN." Licensing Dangers.”
"Hua Tian, the CEO of Legion, Blue Star's largest third-party service organization, announced at 8 o'clock this morning: Legion will open a new financial credit blacklist section, aiming to avoid related transaction risks to the greatest extent for all customers.
The three major rating agencies, S&P, Moody's, and Fitch, are prominently listed, as well as more than two dozen financial institutions on Wall Street, including Goldman Sachs and Morgan.
Huatian also said that in the future, companies on the financial credit blacklist will affect legion's scores for all companies, and some score adjustments will be made depending on the degree of contact between each company and the institutions on the credit blacklist.
ASEAN officials stated that they will carefully consider the blacklist given by legion, and at the same time stop some ongoing business cooperation projects involving relevant companies and institutions. The relevant details can be viewed on the official website of legion. "
"Affected by the official accusations from ASEAN, Ou Meng also issued relevant attacks on the three major credit rating agencies, Standard & Poor's, Moody's, and Fitch, and stated that he would evaluate the role played by the three major rating agencies and reserve the right to take harsh measures. .
Many investors have expressed support for the actions of Eastern and European parties. After the Southeast Asian financial crisis, Enron's false accounting incident, Madoff fraud and the subprime mortgage crisis, a large number of investors who lost money are no longer optimistic about the three countries. A-level or above evaluation projects from major evaluation institutions. "
There was a sudden silence in the Goldman Sachs conference room. Everyone was stunned and didn't know what to say when they saw these four pieces of news.
It took a long time before a word rang out in the conference room.
"We...were sanctioned?"
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