Chapter 1198: Annie's findings

Reached out and took the file that Annie handed him, and looked down.
[Survey on Bad Subprime Loans]
He raised his head and stared at Annie's eyes, "What? Did you buy subprime bonds?"
Annie smiled and shook her head: "No, I was short on this trash thing. To be safe, I also spent a huge amount of money to specially invite people to do a little research in various cities and states, and you have the results of the investigation."
Kim Hyun-tae nodded, put his gaze back on the document in his hand, and lowered his head and said to Annie: "It’s not just buying subordinated bonds. This thing is just like what you said, it’s just rubbish. Of course, shorting. It's a smart choice, but which level are you shorting?"
Annie smiled and replied: "B-grade, this is safer. If the subprime mortgage crashes as I guess, at least I will have three to six times the income."
"How much did you buy?" Jin Xiantai began to look through the documents, and at the same time asked casually.
A trace of complacency appeared on Annie's face and replied: "50 billion U.S. dollars."
US$50 billion is a lot, and Annie can make at least US$100 billion or more by then.
You know, Kim Hyun Tae took his own cash, even with his daughter's 20 billion US dollars, but only paid 70 billion US dollars, only 20 billion US dollars more than Annie.
But unlike Annie, Jin Xiantai bet on A-grade subprime mortgage bonds, which is a complete bet on the real estate market collapse. Therefore, if this happens, Jin Xiantai will earn more than Annie.
After all, Annie is betting on the relatively safe B-level subprime mortgage bonds, while Jin Xiantai bet on A-level bonds that no one thinks will be finished.
You should know that the structure of the subprime bond package sale portfolio is composed of AAA, AA, A, and B++, B+, B, C++, C+, and C mortgage bonds.
Therefore, A-level credit is absolutely excellent.
For the United States with a credit society system, no one thinks that anyone would be willing to bankrupt their credit, so subprime mortgage bonds are definitely a good thing.
Because once the loan is not repaid, then a person's credit will go bankrupt. This is not just a question of whether or not to get a loan in the future. Even people with credit problems are not looking for a job. This is absolutely related to personal survival.
Of course, under normal circumstances, subprime loans are no problem.
After all, this thing is a financial derivative made up of mortgages.
If you follow the normal procedures, of course no problems will arise.
But it can't hold the bank to let the people down for profit.
"Whiston Bank sold the subordinated bonds in its hands, and the approval procedures for loan issuance have become a lot more stringent. I am trying my best to make Whiston able to avoid this trend, although I don't know when will come."
While Kim Hyun Tae was reading the documents, Annie said to Kim Hyun Tae while watching TV.
Jin Xiantai still agrees and appreciates Annie's actions.
Because of subprime bonds, it was because of the random issuance of loans that eventually led to the real estate collapse, which led to the outbreak of financial crises all over the world.
This is because because the subprime mortgage bond market is too large, there are tens of trillions of dollars a year. I don’t know how many countries’ funds and banks use subprime mortgage bonds as a means of preserving value. Therefore, when subprime mortgage bonds become obscure , Of course, these holders have become lost, and all countries have suffered economic crises due to this problem.
It can be said that subprime mortgage bonds are a pit, and it is still a big pit.
On the surface, this pit may be caused by everyone's greed, but whether there is a conspiracy in it is not known.
After all, Americans are not good birds, especially the big capitalists on Wall Street.
Now, thanks to the birth of Kim Hyun Tae, Annie was able to see the problems in the subprime mortgage bonds, and also found that her Whiston Bank also had terrible loopholes in the mortgage business. Therefore, she is now trying her best to make up for it. Avoid the outbreak of the subprime mortgage crisis.
Otherwise, Whiston Bank might be dragged down by a mortgage default.
Of course, because the Plaza Accord made a windfall more than two years ago, it would not make Whiston Bank go bankrupt, but the amount of mortgage default that day would definitely make Annie painful.
Therefore, it is better to avoid the loss or avoid it.
This is a quality that a qualified capitalist must possess. You can't just because you have money in your hands, and you don't care if you know that you are losing money. That's something fools can do.
Kim Hyun-tae looked through the documents, his expression became more serious as he looked at it.
The investigation team hired by Annie was so careful that it had to be said that the huge investigation fee was not in vain.
In the document, it is obvious 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 had rented out the house. The tenant had paid the rent for several months, but the owner did not pay the mortgage on time. The tenant knew nothing about it, and the owner did not know anything about it. Know what to do with the money.
And this homeowner not only hasn't repaid the mortgage, his mortgage has not been repaid for several installments. According to common sense, the bank should have come to collect the house, but the homeowner who doesn't know how to do it still holds the property.
At the same time, after investigation, the mortgage that the homeowner had not repaid for half a year was packaged into a good-qualified mortgage, and even after the credit rating was actually A+, it was combined with other mortgage bonds and sold to investors.
Seeing this, Jin Xiantai felt it was shocking, and this was just an example of the tip of the iceberg.
If even such a mortgage can be rated as A+, then Kim Hyun-tae can hardly imagine how those mortgage bonds with a credit rating of AAA will be.
At the same time, housing loan portfolio bonds with lower than A-level credit will be garbage.
The second example is also very painful.
It is totally illogical for a striptease girl to keep repeating loans and get a few properties under her name.
After investigation, it was discovered that the dancer did take a loan, but she did not take the loan to buy a house, and the money she borrowed was never repaid.
Therefore, the mortgages for these houses are also called a piece of non-performing assets, but these non-performing loans were once again packaged and sold to investors in the name of subprime mortgage bonds.
The adjustment team found that the reason for this situation was entirely the result of a collusion between the real estate agent and the stripper.
Because of the successful loan of a mortgage, the intermediary can get a commission of three or four thousand dollars, and the stripper can also get two or three thousand dollars.
As for where the loaned money ends up, you need to ask the bank.
And the investigators also found that most bank loans were not even reviewed by Te Niang, and the application column for occupations and income blanks can also be approved to obtain mortgages, and the approval speed is very fast.
Therefore, a large number of seemingly high-quality properties are actually junk assets that have not been repaid, but no one knows the inside story.
Everyone is stunned by the enthusiasm of the bond market packaged by mortgages, so they ignore the hidden threat.
The interest rate of subprime bonds has been higher year after year, reaching a height of 9% this year. Therefore, anyone who holds subprime bonds is considered to be able to make a fortune without worry.
You know, the Federal Reserve has negative interest rates, and the business is not good at the moment, and the profitable ones are monopolized by the predators. Therefore, sitting at home and holding subprime bonds can steadily increase the banknotes by 10%. Who doesn't want it? .
It is precisely because of high interest rates that it attracts a large number of funds and banks from all over the world to buy.
At one time, Annie also held a lot of subordinated bonds.
However, because of Jin Xiantai's relationship, Annie sold all the subprime mortgage bonds in her hand to others, and also made a small profit, avoiding the fate of those subprime mortgage bonds worthless in the future.
And right now the subprime bond interest rate is high, but the price tag to invest is also high.
Last year, it was more than one hundred dollars, but this year it has become more than three hundred dollars. The entry barrier has been raised a lot, but even so, many people still flock to it, waving banknotes to buy.
Major banks claim that the rate of non-performing mortgage loans is less than 2%, but the data given by Annie's investigation team is as high as 13%, and it is on the rise over time.
What does this show?
This shows that the collapse of the subprime bond market is imminent.
It's just that the capital predators at the moment have kept this cover up well, and they continue to create false prosperity to deceive the investors.
Looking at it, Kim Hyun-tae couldn't help but speculate secretly.
[Is this a big financial conspiracy played by Morgan? 】
Indeed, after all, in the subprime bond market, wealth from all countries in the world is gathered, otherwise the plate would not be so big.
The foundation of this dish is based on people's perception of the US real estate market and the credit default system.
After all, Americans do not carry cash when they go out, a credit card is enough.
Regardless of housing loans, there are various kinds of loans, such as school loans and car loans. Even if you want to buy a ten-dollar commodity and the money is not enough, you can take a loan to solve it, and then slowly repay the loan.
It can be said that this system works very well in the United States ~ EbookFREE.me ~ has also been operating for decades without any problems, so everyone is very confident in the United States.
Credit society, everyone doesn't care about their credit.
But people have overlooked a fatal problem, that is, when people are unemployed, everywhere is full of fraud, and financial chaos, the entire subprime bond market will completely collapse.
Kim Hyun-tae took a sigh of relief, knowing that there was no problem with his and his daughter’s investment. This survey report has already given clear answers.
Putting the finished documents to his side, Kim Hyun-tae turned his head and looked at Annie and said,
It seems that those credit rating agencies are deeply trapped, and among them, they are at least a helper. Without their help, these mortgages, why? It may have such a high rating."
Upon hearing this, Annie took her gaze back from the TV, and looked at each other with Jin Xiantai.
"Yes, those credit rating agencies suck, so I am going to replace them in the future."
When she said this, Annie's eyes flickered, indicating that she has strong ambitions...