Feng Yiping wanted to ask for rescue, but frankly, the situation he is facing is purely self-defeating and not worthy of sympathy.

Not only is it not worth sympathizing, if we tell the situation we are facing now, many people will immediately say, "Can you stop showing off?" or, "Let me go!"

However, the other person who is a little like a helper at this time is really worthy of sympathy.

It was at this time that he replaced Greenspan as chairman of the Federal Reserve at the beginning of last year, Ben Bernanke.

Before serving as head of the Federal Reserve, he had actually served in the Federal Reserve Bank in many cities in the United States. At the same time, he had been teaching economics at Princeton University until 2002. Before leaving, he was the director of the Department of Economics at Princeton University.

Of course, the situation this scholar-born Fed Chairman was still somewhat similar to Feng Yiping. Both of them can be said to be somewhat like Ye Gong.

Because looking at Bernanke's academic career, it is not difficult to find that his research direction is mainly focused on the Great Depression.

In 2000, he published an academic monograph called The Great Depression through Princeton University Press, which included nine papers he co-written with others from 1983 to 1996.

As the name suggests, these papers are all related to the "Great Depression", so in the American folk and academic circles, they are down to the Great Depression, inflation, and the masters in monetary economics.

The so-called "Great Depression" is the United States' title of the great capitalist economic crisis in the 1930s.

It is very instructive that the crisis not only declared the end of free capitalism, but also showed the first time that the planned economy pursued by the Soviet Union, the only socialist country at that time, was a financial crisis that had certain advantages over the unregulated free capitalism.

During that crisis, the US Roosevelt New Deal drew on some practices of the socialist planned economy to adjust and regulate the US economy, forming an intervening capitalist economic system that has continued to this day.

In short, to the outside world, letting Bernanke serve as the current chairman of the Federal Reserve is like letting some guys who like Japan serve as yellow appraisals.

Because, they finally found a job that suits their interests very much.

But for Bernanke at this time, he had no chance to apply what he had learned, and he felt very happy.

He just felt depressed, very depressed.

Everything was done by Greenspan, the old guy who only knew two tricks, either lowering interest rates or raising interest rates.

In the two years after the bursting of the Internet bubble in 2000, he cut interest rates 27 times in a row, lowering interest rates to 1%. It is such low interest rates that have gained momentum for the real estate market to rise and ultimately promoted the prosperity of the US real estate market.

Then, given the overheating of the real estate market, he felt that such an extraordinary housing boom was undoubtedly unsustainable. Therefore, since 2003, he used another of his only two tricks to use, hike interest rates.

From 2003 to 2006, he raised interest rates 17 times in a row, and eventually increased the benchmark interest rate from 1% to 25%.

But what this guy with just name did not expect was that the sharp rise in interest rates increased the burden on home buyers to repay loans, and mortgage defaults continued to appear, which accelerated the bursting of the US housing bubble. As a result, there was a situation where he was very imminent.

So, why did the old guy who caused such a situation at the moment wear various crowns and enjoy his comfortable retirement life safely, but asked me to clean up the mess he left behind?

The key is that he is still praised, but now he is being scolded everywhere?

Bernanke has been asking aloud many times recently, and he has wanted to ask loudly, is there any reason for this?

Because of his professionalism, this time, the pressure he faces is actually dual. If he cannot deal with this seemingly difficult crisis, people will not only question his ability to control the Federal Reserve, but also deny his academic achievements.

A master who studies the Great Depression but cannot solve a similar crisis is as ironic as a famous general who cannot win a battle.

To put it directly, if he does not respond properly to this crisis, then not only will the Federal Reserve not be able to stay there, but he will want to retreat and build a net and develop in the academic community, that is, this time, he has no way out at all.

Looking at the various news compiled by his subordinates, none of them would make him feel optimistic. He had managed it very smoothly, but he always looked messy recently. "Contact Paulson and Geithner (Chairman of the New York Fed), it seems that we have to prepare to inject capital into the financial system again,"

…………

Paulson, who is an old friend of Feng Yiping, is now the US Treasury Secretary. If he appears in front of Feng Yiping, Feng Yiping will probably be very surprised.

This former Wall Street emperor, known for his energy, now looks bloodshot in his eyes, and his dark circles are really comparable to our national treasure.

After receiving the call from Bernanke, Paulson's face became a little colder.

He had the answer in his mind. If the capital injection this time is less than US$20 billion, it will not have any effect at all.

These days, he always remembered the situation when he took over his current position, and in July last year, he was the first time he attended that meeting at Camp David as an important member of the Bush administration's economic team.

He remembered that he talked a lot at that time, from welfare reforms to economic surplus, opacity of financial derivatives, and the scale of hedge funds, but he did not talk about the real estate market.

What impressed him most was the question the president asked at the end of the conversation, "Hank (Paulson's full name is Henry "Hank" Merritt Paulson Jr.), what would cause the financial crisis?"

He still remembers his answer at that time, "I don't know, sir, but when it happens, everything will be clear."

Now, it happened!

But it seems that everything is not clear.

As for the subsequent development of the crisis, he still has no definite view.

However, it is obvious that some people have a better understanding of this issue than everyone else.

He looked at a magazine on the table. Some of the pages in the magazine looked very obvious different from those next to it. They were much deeper and had rough edges.

That's because, recently, he has always been involuntarily looking through those pages.

That magazine is the January issue of Frontier magazine this year, and those pages are also the signed article published by Feng Yiping.

Feng Yiping!

Paulson remembered several meetings with Feng Yiping and some of the dealings between Goldman Sachs and his company. He had to say that he was really a surprising young man. Goldman Sachs served as a financial consultant for his American company several times and helped him complete the acquisition plans. The process was very amazing. Moreover, his acquisitions were all set up for him and served his existing and long-term plans.

His vision is indeed unmatched.

Wait, thinking of this, and looking at the magazine again, Paulson suddenly felt that he might have made a serious mistake when he was at Goldman Sachs.

Because Feng Yiping's vision is unmatched, he agreed so readily to accept the shares of Alibaba held by Goldman Sachs and later heard that he simply acquired Alibaba. So, will Alibaba's future development be very strong?

Probably, it's impossible to make a mistake!

Then... Paulson's head hurt even more. He felt that the proposal of transferring the shares of Alibaba he held to Feng Yiping might be the most wrong decision in his entire career.

…………

At the same time, in the place where Paulson once fought and worked, there was a man in Wall Street in New York who was also worried about Feng Yiping at this time.

He is the co-founder and head of Blackstone. In China, he has a very Chinese name, Su Shimin.

Today, he finally knows who was behind the sovereign fund that ruined China's money and his $3 billion deal.

"Yiping Feng!" At this time, because of this crisis, Mr. Su, who was also a little worried, gritted his teeth when he mentioned Feng Yiping's name.

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