As house prices in the United States have always remained high, this fund has also attracted various pension funds, education funds, financial products, and even banks in other countries to purchase them.

At this point, loan companies, investment banks, hedge funds, insurance companies, and such financial investment institutions have all been involved in this subprime mortgage crisis.

In the entire interest chain of subprime loans, as long as the US real estate market remains prosperous and housing prices continue to rise, all entities in the chain can enjoy the benefits brought by rising housing prices. However, as the Federal Reserve continues to raise interest rates and the real estate market continues to decline, the pressure on subprime lenders to repay the loans gradually increases, and the proportion of lenders defaults continues to increase, so the subprime loan interest chain begins to break from the source. The risk of loans also spreads with this chain, and is gradually transferred from real estate financial institutions to institutional investors in the capital market.

In July 2007, two hedge funds under the United States Bear Stearns were on the verge of collapse; in August 2007, Australia's Macquarie Bank announced that its two high-yield funds were facing a 25% loss; BNP Paribas, the largest bank in France, also announced that it would temporarily stop redemption of its three hedge funds, most of the global stock indexes plummeted, and the US subprime loan crisis spread in other countries.

The failure of the market has led the world economy to the brink of collapse, and the joint actions of governments in various countries to save the crisis also demonstrate the seriousness of the problem.

When authoritative economic personnel blamed Bernanke's predecessor Greenspan for the already-breaking subprime mortgage financial crisis, people discovered that the source of the crisis was not from economic development itself, but from government failure. This just shows that the failure of the market is not the reason for the market.

Human beings grow up in reason, but reason is limited to a certain period, not forever. Every time Greenspan saves the United States and the global economy, economists' worship of Greenspan has reached its peak. Now, when the economic crisis reappears, reason tells economists that Greenspan is not a god, but an elderly child who will make mistakes.

Whether it is the financial crisis that occurred after the mid-century or the financial crisis at the beginning of this century, the Federal Reserve and other Western countries have joined forces to resolve the crisis by using currency depreciation, capital injection, interest rate cuts and other methods to resolve the crisis and restore the stability of world economic growth. However, this crisis may cause the behavior of governments around the world to not be as good as before, because the background of this crisis is different from that of any financial crisis in the past.

By defining this difference, we will understand the root cause of this unprecedented economic crisis. Any economic crisis will take a process. This crisis will also have a process.

As the crisis deepens, the rescue behavior of governments in various countries will delay the crisis. In the process of global housing prices, especially in the decline of inflated housing prices in the United States, the economic recession takes time. Judging from the existing historical crisis experience, this time takes about three to six months.

The "subprime mortgage crisis" in the United States began to emerge in the spring of 2006. It began to sweep the major financial markets of the world in August 2007, such as the European Union and Japan. It is October 2005, so count the time. Jiang Feng must have gradually withdrawn most of the funds before 2007. At this time, Xiao Yongyin came to talk to him on behalf of the senior management, which gave him an excuse to withdraw from Hong Kong stocks openly. There is no need to worry that the Hong Kong Monetary Authority would think that there were any variables and adjust financial policies.

So Jiang Feng said to Xiao Yongyin: "Since the senior management doesn't want me to get too deep into the Hong Kong stock market, it's okay to withdraw, so okay. Before November, I'll withdraw these more than 20 billion US dollars."

Xiao Yongyin was drinking. After hearing Jiang Feng's words, he immediately squirted out a sip of wine. He coughed several times before he could recover. He said anxiously: "I said you were not meant to anger me, right? How many days will there be in November? How many US dollars will be withdrawn in such a short time? How much impact will you have on the Hong Kong stock market?!"

"What's your attitude? Let me stay in there? I've suffered a lot!" Jiang Feng said unhappily.

Seeing that Jiang Feng had complaints, Xiao Yongyin was also hesitant. So he waved to someone next to him and introduced him to Jiang Feng: "This is Charlie Dai, a senior adviser to the Hong Kong Monetary Authority. He came here to negotiate for this matter, so let him talk to you. I don't understand the things that are too professional."

Charlie Dai? Jiang Feng smiled in his heart, shook hands with the other party, and then asked, "What are Mr. Dai's suggestions?"

Since Charlie Day is a senior adviser to the Hong Kong Monetary Authority, he naturally had some ideas about this matter. Considering that Jiang Feng would not be willing to sacrifice his own interests, he made a suggestion: "The Administration hopes that Mr. Jiang can withdraw from the Hong Kong market in an orderly manner. In order not to have too much impact on Hong Kong stocks, he hopes that Mr. Jiang will gradually reduce his holdings in his stocks within one year."

In fact, Hong Kong is also worried that Jiang Feng’s sudden withdrawal of investment would be too destructive to Hong Kong stocks, with more than 20 billion US dollars, plus the amplification of leverage, the funds have exceeded 50 billion US dollars. At this time, since the two sides have negotiated, they can reach a consensus and properly resolve the matter.

Seeing that Jiang Feng was hesitant, Charlie Day said: "The current trend of Hong Kong stocks is just right, and it is rising steadily. Mr. Jiang withdraws his investment within one year and will definitely not lose any losses, and he can even have certain returns. This is also our sincerity."

"Since that's the case, I won't be able to say anything more." Jiang Feng thought about it for a moment, then raised his head and smiled, "Let's do this, from now on, withdraw 2 billion US dollars a month, and how about withdrawing all the funds before New Year's Day next year?"

After hearing this, Charlie Day felt that although the period was different from one year, it was only two months longer. The most important thing was that Jiang Feng was willing to cooperate. This was the first priority. Even if his task was completed, he agreed.

Jiang Feng also contacted the company executives in charge of this business in Jiang's Consortium and spoke to Qu Tingshao, asking him to choose stocks to withdraw from the market as appropriate to reduce his holdings in an orderly manner.

After all this, Charlie Day was very happy and said that the Hong Kong Monetary Authority was very grateful to President Jiang for his cooperation and sent Jiang Feng the invitation to celebrate the 10th anniversary of the return of Hong Kong.

"This is definitely something I have to go there. At that time, I may have to bring a few people there, which is more disturbing." Jiang Feng said with a smile, "In order to celebrate the tenth year of Hong Kong's return, I specially bought a few villas on Hong Kong Island. This shouldn't be refunded, right?"

"Where is where, if President Jiang is willing to develop in Hong Kong, we are the most welcome. We are worried that you will learn from the typhoon and leave after passing by." Charlie Day immediately expressed his attitude.

In fact, if Jiang Feng really plans to take root in Hong Kong for construction and development, they will not have time to be happy, so how could they chase people? But it would be different to make money in the stock market. If you make money from others, you will be jealous of others.

After seeing off Charlie Day and other relevant financial authorities, Xiao Yongyin said to Jiang Feng: "To be honest, I don't want to come this time, so I can't take on this job."

Xiao Yongyin also complained about the snobbish Hong Kong forces, thinking that the senior management's policies towards them were too relaxed, and this practice of damaging the interests of others for their own selfishness is despicable.

Jiang Feng smiled and said, "When doing business, you must pay attention to your territory. The crossing of the river is naturally strong, but now the tigers suddenly have a backer to rely on, so they naturally need to make good use of it."

Everyone is just using each other. Mainland leaders hope that Hong Kong's political situation is stable and economically stable, so they need active cooperation among major families, so they cannot ignore their interests. All major families are arrogant because of their favor. With this good opportunity, how can businessmen not take the opportunity to make money?

In fact, even if Jiang Feng doesn't agree to this matter, it's okay. If the major families join forces to short, it will only be a loss. Through other channels, the losses can still be made up, but this great opportunity has been wasted in vain.

You should know that it is rare to have time and energy to gather popularity in the stock market. It takes a long time to suppress the market and then lift it up again. None of the big families do not have the mood to waste time, so it is the best result to reach a reconciliation with Jiang Feng.

It seems that Jiang Feng still gives them face, to be precise, to be precise, giving face to the high-level mainlanders.

But for Jiang Feng, isn’t this a good opportunity? If you withdraw your investment, someone will automatically cover it up. With someone taking over, it will be much easier to withdraw.

Since you have made money, why do you have to wait until the collapse before quitting?

"It's not good for you to monitor me all the time." Jiang Feng was still dissatisfied with Xiao Yongyin.

Xiao Yongyin shrugged and said, "Do you think I am willing? As a key figure and a public figure, you basically have no freedom or privacy!"

The work of the Ministry of State Security is inseparable from surveillance and secret investigations, which also include infiltration and espionage. For national security, some necessary means of shame can be taken to achieve the goal, which is also an internationally recognized practice.

Therefore, when Jiang Feng asked this question directly, Xiao Yongyin did not have any awkward expression. Instead, he continued to eat with peace of mind. Seeing that Jiang Feng was itchy, he couldn't find any problems.
Chapter completed!