Mr. Lu Xun said it well: If you come out to fool around, you will have to pay it back sooner or later.
Goldman Sachs and Morgan Stanley made a lot of money last year, but now they are miserable.
There are also three major credit rating agencies. It seems that when they cooperate with Wall Street to make money, they have not realized that their actions have aroused public outrage.
Because now is different from the previous life. One shocking thunder after another has been superimposed in the last half year of the last century. Even if it is as big as the subprime mortgage crisis, apart from the vast number of leeks, the fat sheep will only suffer a partial loss. .
But one big news after another does not give investors any time to breathe, and makes them be cut over and over again. Even pigs should know that they are pigs.
Let’s look back at the performance of the three major credit rating agencies in these big news.
Looking down on the Southeast Asian countries in an all-round way, a group of hot money was cut off and they were in a state of ecstasy.
Some companies, such as Enron and WorldCom, were rated triple-A, and then were exposed to have falsified accounts, and Fat Sheep's stocks were completely locked up.
Madoff's fund has always had a triple-A credit rating, and it is a Ponzi fund. . .
Not to mention the subprime mortgage crisis, there are still a lot of people who have turned from billionaires to billionaires because of a bunch of AAA contracts in their hands.
Anger has been slowly building up in the hearts of a large number of fat sheep and leeks. Before, they had just kept it in their hearts temporarily and did not know who to vent to. Wall Street has become the target of everyone's anger and venting, but at most it is verbal. Cursing, no one has actually implemented what they said - bombing Fifth Avenue in Apple City.
But now that ASEAN has set three credit rating agencies as targets, announced that it no longer trusts any of their ratings, and is preparing to attack a bunch of branches of Wall Street financial institutions on its own territory, it has reminded all the leeks that have been cut. There are also three little transparent people who have been sitting on the Diaoyutai and quietly making a fortune.
Can this be tolerated? !
Ever since, after ASEAN completely ignited everyone's emotions, legion began to take the lead in the fire, and within the next three days.
Board members of a number of legions, including Italian Shenra Group, Gallic Edge Fund, Franc Machine MH Group, New World Group, Majia Company, and Dawn Society, began to announce that they would no longer recognize all evaluations from the three major credit rating agencies.
The four major banks in the mainland and some state-owned enterprises have also announced that they will use the information disclosed by legion as a standard to significantly lower the credit ratings of the three major credit rating agencies that have repeatedly made mistakes in recent years.
A number of players from Eastern Europe, Central Asia, and West Asia also issued relevant statements shortly afterwards, abandoning S&P, Moody's, and Fitch and embracing legion.
Many banks in Western Europe that were bombarded by Wall Street also launched a timely attack on the three major credit rating agencies and stated that they would no longer regard the three major credit rating agencies as authoritative and would refer more to some information disclosed by legion.
The leeks and fat sheep who had been cut more than once in the past six months also reacted and directly began to question the authority of the three major credit rating agencies.
Because now Blue Star's credit consulting market is no longer monopolized by the three Wall Street-based companies, but now has a legion spread throughout Blue Star.
A group of people on Wall Street quickly stopped all plans for Europe. Now they finally realize that they have provoked public anger, and too many people have been cut off this time.
But the three major rating agencies were also angry in their hearts, and they started to fight back.
On February 10, S&P, Moody's, and Fitch issued a unified statement that day.
“Ou Meng, who has previously had a long-term credit rating of AAA, will be placed on the negative watch list and the ratings of relevant Southeast Asian countries will continue to be downgraded.
Against the background of the worsening political, financial and currency problems in Dongmeng and Oumeng, the future bond financing capabilities of relevant regions and countries will be greatly impacted. "
This is a method that has been tried and tested by the three major credit rating agencies, because at this time, the sovereign country credit rating machine issued by the three major rating agencies is related to a country's treasury bond sales. Simply put, it is the difficulty of a country raising funds.
If the rating is low, others will not have confidence in the national debt, and fewer will subscribe. The issuance of national debt can only attract more investors to buy by raising interest rates, but in the long run this will be a loss and quite cut off. Chinese chives.
Finance relies on nothing else but reputation. This reputation is related to whether you can borrow money from others, how much you can borrow, and what the interest rate is.
Chen Yi doesn't care much about these ratings now, because the things he creates will not disappear if others don't believe him. But the big guys in the financial industry don't have this ability. If others believe you, you will have money. If they don't believe it, you will have money. You have no money, it’s that simple.
But this time the three major evaluation agencies seem to have miscalculated, because all the people in Blue Star who have been harmed by them have a fire in their hearts that needs to be vented.
This resulted in a continuous increase in the subscription rate of government bonds of various players in Europe and Southeast Asia, and a sharp rise in the stock market.
A group of people on Wall Street were completely shaken, but it was impossible for them to admit their mistakes, because now Wall Street's authority and credibility in Blue Star had been challenged, and they had to hold on.
As a result, the Blue Star financial community started a war of words, with major media outlets, publishers, and social software complaining fiercely.
Almost all the melon-eating people in Blue Star began to participate, and they continued to scold each other for a month before they gradually stopped.
A group of people on Wall Street all looked like they were dead mothers. Now that the legion has gained a firm foothold, they can no longer comment on anything arbitrarily, because now they have someone who has the ability to speak against them.
In the past, the Blue Star credit consulting market was monopolized by them. Even if players criticized the information they released as untrue, they still had to pinch their noses and use theirs as a reference. But now everyone has one more choice, which means the three major credit The importance of rating agencies has plummeted, and related plans in Europe have been greatly affected.
At this time, a group of people turned their attention back to ASEAN, the initiator in the first place. However, after seeing ASEAN's actions, a group of people took a breath of cold air.
Almost the entire Southeast Asia has become a big construction site.
"Where did they get so much money?!"
. . .
In the Goldman Sachs conference room, a group of people looked at a series of information on Southeast Asia with heavy faces.
In the past, Southeast Asia has always been a poor and backward place in their minds, but the soil there is fertile, rich in various resources, and cheap labor is abundant, otherwise they would not be interested in harvesting these leeks.
You have to find a good target to cut leeks. For example, in Heizhou, no one on Wall Street would be interested, because this is not cutting leeks but giving subsidies.
But now there seems to be something wrong with Southeast Asia, and all economic activities have nothing to do with them.
The financial crisis seems to be a tragedy, but this is a financial crisis, not a food crisis. The physical assets of the entire country have not actually changed, and have become only the values labeled by the outside world for these physical assets.
Many people may have much less money in their pockets than usual, but as long as they don't owe banks or various institutions any money, they have just lost part of their wealth, and it's not to the point where they can't survive.
Even in Southeast Asia, most of the working-class people who have not gambled in the stock market have not felt the negative impact of the financial crisis on their lives.
But this is not the case for those who have been playing the money-making-money game.
According to statistics from the Qinglong Study Group, since the Southeast Asian financial crisis, a total of 50,000 people have committed suicide in Southeast Asia, and more than 95% of them have borrowed money from banks or various financial companies to speculate in stocks.
Regarding this bloody figure, Chen Yi didn't feel the slightest bit disturbed in his heart.
I am willing to admit defeat. It is very fair. Everything is the choice of these gamblers.
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