Oh, it should be Chapter 80.

…………

As soon as the sky was dawn, Amanda ran all the way to the master bedroom. "Hehe," she turned to bed with a familiarity, and then was stunned. Where is Dad?

Before going to bed last night, my father was obviously at home.

She woke Huang Jingping up, "Mom, where is Dad?"

"Hmm?" Huang Jingping, who was awakened by her, said subconsciously, "Dad has gone to exercise,"

"But, it's less than six o'clock," Amanda said.

Huang Jingping touched the alarm clock at the head of the bed and saw that hey, it was only 5:20?

Thinking about what happened last night, she got up with disheveled hair and hugged Amanda. Sure enough, she found Feng Yiping in the living room, hugged a pillow, and slept soundly on the sofa.

What happened to him last night?

She turned off the desk lamp next to her and was about to enter the room to take out the quilt, but Feng Yiping woke up, "Hi, it's so good,"

"Oh, why am I sleeping here?"

"Dad," Amanda slipped down from her mother and looked at Feng Yiping with her eyes wide open, "Did you have a fight with her mother?"

Looking at her serious appearance, Feng Yiping and Huang Jingping were both amused and laughed. Where are they?

"Baby, it was Dad who thought about the problem after calling last night, and then fell asleep."

"Is it a difficult question?" Amanda asked with his big eyes flashing.

"It's not a problem," Feng Yiping pulled her to the sofa and waved to Huang Jingping again.

Huang Jingping had to lie down on the sofa, otherwise Amanda would have thought they had a quarrel last night.

"Would you be fine if you sleep for a while? I'll think about where you want to go today,"

Amanda immediately called out, "Great Wall,"

This is not difficult. The Great Wall is so long, and it is still easy to find places with few people to climb.

…………

For Feng Yiping, the situation is already very obvious, but for others, the situation at this time is still difficult to see clearly, and there is some meaning of seeing flowers in the fog.

It was also this morning that President Zhou also received relevant news when he was having breakfast at home.

New Century Financial Company went bankrupt.

The information he received was even more complete.

According to bankruptcy documents handed over to Wilmington federal court by New Century Finance, the second largest subprime mortgage supplier in the United States plans to sell most of its assets within 45 days and fire about 3,200 employees.

They agreed to sell some of the loans it issued, as well as its remaining interest in certain securitized trusts, to Greenich Capital Corporation for approximately $50 million.

And with court approval, it will sell its service assets and service platforms to Carrington Asset Management and its affiliates, with the acquisition price of about US$139 million.

This platform, the company's core asset, consists of 57,000 independent mortgage brokers responsible for finding loan clients, as well as handling loan application and approval matters.

The platform also includes computer software and equipment for analyzing loan applications, as well as 262 retail outlets and 34 regional operation centers in 20 states.

For companies like New Century, the most fierce competition between them and their competitors is the competition for these independent brokers, because these independent brokers can bring business to them.

Of course, according to the information that President Zhou received before, it was the 57,000 independent brokers on this platform that brought New Century Company to its current level.

These brokers will try to get loans for interested clients, even if they know that those clients do not seem to have the relevant loan conditions.

But so what? Only by applying for more loans can they have more processing fees.

New Century Financial Company rarely makes re-examination requirements for these brokers to issue loans.

President Zhou can understand the reason for this, because New Century Financial Company, like most companies in the United States and the people, firmly believes that American housing prices will continue to rise.

In fact, including at this time, Governor Zhou himself is not sure about the next trend of US real estate prices.

Yes, although the US real estate market has cooled since the end of 2005, until last year, many Americans were indeed upset about real estate.

But they are not upset because of the trend of housing prices, but because they have not bought a house in time or bought a house in less.

Because many of the houses they bought before have increased by at least twice as much as now, so why didn’t they buy two more units at that time?

It is New Century Financial Company, which announced bankruptcy yesterday. In the past year, the loans issued were as high as 60 billion US dollars.

This shows that the American people's willingness to buy real estate is still very strong.

So, even if there are more and more real estate advertisements on the roadside than before, who can firmly deny it? This is just a short-term adjustment. The real estate market may resume its upward trend next month?

He also knows more about some of the policy factors after this than ordinary people.

Since 2000, in order to stimulate the economic downturn caused by the bursting of the Internet bubble, the Federal Reserve has cut interest rates 27 times in a row, finally lowering interest rates to 1%. Low interest rates have given the housing market momentum to rise and also allowed the US economy to get rid of the possibility of a sustained recession.

Of course, they also paid attention to this issue next, so in order to curb inflation, from 2003 to last year, they raised interest rates 17 times in a row, and were about to increase the benchmark interest rate from 1% to 5.25%.

The sharp rise in interest rates has increased the burden on home buyers to repay loans, and has also led to the continuous emergence of mortgage defaults, which has also made the US mortgage market somewhat sluggish.

So, will the Fed use interest rate cuts in time to ensure growth?

Although Greenspan had stepped down last year, Governor Zhou was too aware of the Fed's means, and when the economy was sluggish, he cut interest rates and lowered the economy to a better position.

On the contrary, when you tend to overheat, try hike the interest rate. If the rate hike does not respond for the first time, then continue until there is a reaction.

These are the two common tricks they use.

Judging from the information received by President Zhou, the American economic community is also discussing this issue at this time, is the bankruptcy of the New Century Financial Company, which will lead to a domino effect?

This has led to other real estate mortgage companies with higher credit ratings being collected, thus endangering the entire US mortgage market and even the US economy?

The current mainstream view of the American economic circle is still impossible to happen. First of all, because Wall Street companies that provide financing support to New Century Finance have limited losses and their loans are guaranteed by other New Century assets.

More importantly, most people, like President Zhou, believe that the Fed will cut interest rates in a timely manner.

But President Zhou also knew that Feng Yiping firmly believed that the US real estate market would not improve.

For him, Feng Yiping's fund is not difficult to find out about purchasing real estate securities CDs.

On the one hand, there is the mainstream economic circle in the United States, who believes that the real estate market is still improving, while on the other hand, Feng Yiping, who thinks that the US real estate market will collapse in the future.

To be honest, he was also a little uncertain, which side's view was correct.

In particular, he also learned that before the bankruptcy of New Century Financial Company, the investment banks on Wall Street actually proposed solutions, but the conditions of the two parties were not agreed upon later.

This fully demonstrates Wall Street's confidence.

So, this question is really hard to understand.

He kept thinking about this problem all the way to the office, but when he arrived at the office, he threw the problem aside.

The bankruptcy of New Century Financial Company is also a warning to the country, because the same situation may also happen in China.

In recent years, the amount of fake mortgage loans involved in the domestic banking industry has also increased year by year.

According to statistics, from 2004 to last year, the domestic mortgage loan non-performing rate has increased from about one thousandth to about eight thousandth, which has increased by more than seven times.

He quickly held a special meeting and asked the management to pay close attention to real estate credit risks. After that, he called Feng Yiping, "Yiping," he heard the news over there, "Are you not in the company?"

"It's okay," Feng Yiping gestured to Amanda and walked to the other side of the beacon tower, "Teacher Zhou, is it related to New Century Company?"

"Oh, yes, you must know, what do you think about it specifically?" asked President Zhou.

"I'll still stick to my original view," said Feng Yiping.

"Since you have such a flat floor, can you provide a written view?"

“Written view?”

"Yes, I think I should use it when I report to the above," said President Zhou.

"That's it," Feng Yiping looked at the undulating mountains in front of him, and looked at the Great Wall winding forward on the top of the mountain. "No problem,"
Chapter completed!