Chapter 1146

She took the document from Annie and looked down.

Looking up, Jin Xiantai looked into Annie's eyes and said, "what? You bought subprime bonds? "

Annie laughed and shook her head. "No, I've shorted this junk, and I've spent a lot of money to get people to do a little research in cities and states, and you have the results."

Jin Xiantai nodded, put his eyes back on the document in his hand, and lowered his head to Annie and said, "it's not good to buy subprime bonds. It's just like what you said. It's just rubbish. Shorting is certainly a wise choice, but what level are you short?"

Annie replied with a smile: "B-class, it's more safe. If the subprime mortgage crash as predicted, at least I'll get three to six times the income."

"How much did you buy?" Jin Xiantai began to look through the documents and asked casually.

Anne's face showed a trace of complacency and replied, "50 billion dollars."

It's a lot of $50 billion, and Annie will be able to earn at least $100 billion or more.

You know, Jin Xiantai took his own cash, together with his daughter's $20 billion, but only $70 billion, only 20 billion more than Annie.

However, unlike Annie, Jin Xiantai bet on A-class subprime mortgage bonds, which is a total bet on the collapse of the real estate market. Therefore, once such a situation happens, Jin Xiantai will make more than Annie.

After all, Annie gambled on B-class subprime mortgage bonds that were relatively safe, while Jin Xiantai was betting on A-level that no one thought would be finished.

We should know that the structure of the package sale portfolio of subprime mortgage bonds is composed of AAA grade, AA grade, A-class and mortgage bonds with credit rating of B + +, B +, B, C + +, C +.

So grade a credit is absolutely excellent.

For the United States with a credit social system, we don't think that anyone is willing to let their credit go bankrupt. Therefore, subprime mortgage bonds are definitely a good thing.

Because once you don't pay back the loan, then a person's credit will go bankrupt. This is not only a question of whether you can get a loan in the future, but even if you have a credit problem, there is no one to ask for a job. This is absolutely related to personal survival.

Of course, under normal circumstances, there is no problem with subprime mortgage.

After all, it's a financial derivative made up of mortgage loans.

If the normal procedure is followed, of course, there will be no problem.

But we can't hold the bank. For the sake of the interests, we let the people down here behave foolishly.

"Wheatstone bank has sold its subordinated bonds, and the approval procedures for loan issuance have become quite strict. I am trying to make Wheatstone avoid this trend as much as possible, although I don't know when I will come."

While Jin Xiantai was reading the documents, Annie said to Jin Xiantai while watching TV.

For Annie's practice, Jin Xiantai still agrees and appreciates.

Because of the subprime bonds, it is because of the disorderly issuance of loans that eventually led to the real estate crash, which led to the outbreak of financial crisis all over the world.

This is because the sub-prime bond plate is too large, there are tens of trillions of US dollars a year. It is not known that many national funds and banks hold subprime mortgage bonds as a means of hedging. Therefore, when the subprime mortgage bonds become penniless, these holders will certainly lose their money, and all countries have economic crises due to this problem.

It can be said that subprime mortgage bond is a pit, and it is also a big hole.

On the surface, this pit may be caused by greed of all people, but whether there is a conspiracy or not is not known.

After all, Americans are not good birds, especially the big capitalists on Wall Street.

Now, due to the birth of Jin Xiantai, Annie can see the problems in the subprime mortgage bonds, and also found that her own Wheatstone bank also has a terrible loophole in the mortgage business. Therefore, she is making every effort to make up for it so as to avoid the outbreak of the subprime mortgage crisis.

Otherwise, Wheatstone bank will be dragged down by a mortgage default.

Of course, because of the windfall made by the Plaza Agreement more than two years ago, it would not have bankrupted Wheatstone bank, but the amount of mortgage default that day will definitely hurt Annie.

Therefore, it is better to avoid the loss.

This is the quality that a qualified capitalist must possess. It is a fool's job not to care about the loss because he has money in his hand.

Looking through the documents, Jin Xiantai looks more serious.

Annie's team was so careful in their investigation that they had to say that the huge investigation fee was not wasted.

In the document, it is clear that there are several examples that can be thought-provoking.

One of them is that the investigation team went to a community and found that the owner rented the house, and the tenant paid the rent for several months, but the owner did not pay the mortgage on time, and the tenant knew nothing about it. At the same time, the owner did not know what to do with the money.And this homeowner not only did not pay the mortgage, his mortgage has been several periods have not been paid, according to common sense, the bank should be to collect the house, but do not know how to do the homeowner still holds the property.

At the same time, after investigation, the mortgage that the homeowner didn't pay back for half a year was packaged as a mortgage with good qualification. Even after the credit rating was a + rating, it was openly combined with other mortgage bonds to sell to investors.

Seeing this, Jin Xiantai felt that it was really shocking, and this was just a drop in the ocean at the tip of the iceberg.

If even such a mortgage can be rated as a +, then Jin Xiantai can hardly imagine how rubbish those AAA rated mortgage bonds will be.

At the same time, lower than A-level credit portfolio bonds, and what kind of garbage road.

The second example is very painful.

It's totally illogical that a stripper can repeatedly borrow money and get several properties under her name.

After investigation, it was found that the dancer did loan, but she did not borrow to buy a house, and the money she borrowed never paid back.

Therefore, the housing loans of these houses, also known as a non-performing asset, were packaged again and sold to investors in the name of subprime mortgage bonds.

The adjustment team found that the reason for this situation is the collusion of real estate agents and strippers.

Because of a successful loan, the intermediary can get a commission of $3000 or $4000, and a stripper can also get $2300.

As for where the loan went eventually, you need to ask the bank.

And the investigators also found that most of the bank loans were not even checked by the special Niang. The occupation and income gap in the application column can also be approved to get the mortgage, and the speed of approval is very fast.

Therefore, a large number of seemingly high-quality real estate are actually garbage assets without repayment of loans, but no one knows the inside information.

Everyone is deluded by the hype of the stimulus bond market wrapped up in junk home loans, so they ignore the hidden threat.

The interest rate of subordinated bonds is higher year by year, and it has reached 9% this year. Therefore, anyone who holds subprime bonds is considered to be able to make a lot of money without worry.

You know, the Federal Reserve has negative interest rates, and now business is not easy to do, and those who can make money are monopolized by big alligators. Therefore, sitting at home and holding subprime mortgage bonds can stabilize the amount of money in hand by 10%. Who doesn't want to.

It is precisely because of the high interest rates that a large number of funds and banks around the world are attracted to buy.

At one time, Anne also held many subordinated bonds.

However, because of Jin Xiantai's relationship, Annie sold all her subprime mortgage bonds to others, and made a small profit, avoiding the fate of those subprime mortgage bonds that were worthless in the future.

It is true that the interest rate of the next grade bond is high, but the price to invest is also high.

Last year, it was more than 100 dollars a piece, but this year it has become more than 300 dollars a piece. The admission threshold has been raised a lot, but even so, many people still flock to it, waving money to buy.

Major banks claim that the non-performing loan rate of housing loans is less than 2%, but the data given by Annie's survey team is as high as 13%, and there is an upward trend over time.

What does that mean?

This shows that the subprime mortgage bond market is about to collapse.

But at present, those capital tycoons still cover the lid very well, and continue to create false prosperity, in deceiving those investors.

Looking at it, Jin Xiantai couldn't help but guess.

Is this a financial conspiracy played by Morgan? ]

indeed, after all, in the subprime bond market, there is wealth from all over the world, otherwise this plate would not have been made so big.

And the foundation of this plate is based on people's understanding of the U.S. real estate market and the credit default system.

After all, Americans go out without cash, and a credit card is enough.

Even if you want to buy a ten dollar commodity, you can get a loan and pay it back slowly.

It can be said that the system has worked well in the United States, and it has been running for decades without any problems. Therefore, the United States is very confident.

In the credit society, who doesn't care about their own credit.

But people have ignored a fatal problem, that is, when people are unemployed, full of fraud, financial chaos, the whole subprime bond market will collapse completely.

Jin Xiantai breathed a sigh of relief, knowing that there was no problem with his daughter's investment. This survey report has given an obvious answer.

Putting the finished documents on his side, Jin Xiantai turned to look at Annie and said, "it seems that those credit rating agencies are deeply involved, among which they are at least playing a role in aiding tyranny. Without their help, how could these junk housing loans have such a high rating?"Hearing this, Annie takes her sight back from the TV and looks at Jin Xiantai.

"Yes, those credit rating agencies are rotten, so I'm going to replace them later."

When she said this, Anne's eyes twinkled, indicating that she had strong ambition for this

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