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Chapter 172 The idea of ​​subprime mortgages

The next morning, Locke came to the farm manor and said hello to Damon.

"Have everyone been found?"

"Of course." Damon nodded: "A total of thirty-two people, all of them were caught."

"There are quite a lot of people." Locke smiled. The team of liars that Jesse joined was a complete chain.

This has also been shown in the movie. At least seven or eight people gathered in the secret base to sort out the stolen goods and cash obtained by various means, and this does not include those who cooperated with the operation.

Damon told Locke the results of the overnight interrogation in detail. Jesse randomly looked for targets in the bar, and Barney, who was wearing a high-end custom-made suit, was naturally noticed. As a result, a series of things happened.

If it was just cash, watches, credit cards, etc., it would be really difficult for Damon to trace it. He was able to catch people thanks to the sports car that Barney lost.

Damon found a local gang that sold stolen cars, then focused on several main members, and then found their strongholds and wiped them out.

"That Jesse started walking around the streets of New York when he was a teenager. He easily discovered Mr. Barney's lame stalking, and then..."

Damon shrugged his shoulders. These people were indeed veterans. After discovering Barney, they quickly had a follow-up plan.

"Okay, bring these people to see me." Locke said to Damon: "Although such people cannot see the light of day, they might be useful someday."

Damon nodded. Since Locke recently asked him to transfer the manpower received from Mexico to a mysterious person, he guessed that Locke would probably not arrange for him to do some work such as dealing with gangs in the future.

In other words, next he will completely transform into a manager of a security company.

This is actually not a bad thing. After all, no one will choose to do shady things if they can take an aboveboard path.

In the parlor of the farm manor, Locke met the core members of the gang. Jesse and Nick were familiar faces, as well as the fat man Feld with messy hair, an expert in credit cards.

Since his good looks cannot make him a protagonist, he can only rely on his ability to earn a living.

"I think one night is enough for you to understand some of my situation." Locke said to the three of them with a smile.

"That's right, Mr. Rock Lee, the hottest billionaire in New York now. Although you have always kept a low profile, I have heard a lot of rumors about you on some occasions." Nick said.

"Then how do you think a person like me would deal with the guy who cheated on my friend?"

Locke said and gave Damon a look. Damon took out his gun knowingly, opened the safety with a click, and pointed it at the back of Nick's head.

"Sir, please give me five minutes." Nick said quickly: "I have an idea. If you are not satisfied after hearing it, I am willing to take them to apologize to your friends."

"No problem, I'm not in a hurry." Locke looked at Nick leisurely.

Nick hesitated and looked at Jesse and Falder: "I'm sorry, what I'm going to say involves the secret of one of my brothers, so please give me some private time."

Jesse and Falder didn't react much. After all, although they were collaborators in a team, there was no real life-and-death relationship between the liars.

After finishing speaking, Nick looked at Locke.

"Okay, Damon will take two friends to visit the manor." Locke said.

"Okay." Damon nodded and took Jesse and Fald away.

"So what exactly do you want to say?" After the two people left the reception room, Locke poured two cups of tea from the teapot, pushed one to Nick, and then asked.

"Thank you." Nick felt more confident after seeing this. It seemed that although Locke was born in Texas, he obviously did not have the habit of discriminating against black people there.

"Sir, I wonder if you have ever heard of Gary Bernard and Joel." Nick asked.

"Of course I have heard of them two. They did a big thing in Texas more than 20 years ago." Locke said: "Do you have any relationship with them?"

The two people Nick mentioned reminded Locke of a movie he had seen before called The Banker, in which the protagonist was Gary Bernard.

He is a black man born in Texas. With the money he saved, he cooperated with another black man, Joel, in California and made a fortune from real estate. Then after returning to Texas to visit relatives, he came up with the idea of ​​helping black compatriots. idea.

So he arranged for a white man to act as a representative and acquire a bank to provide loans to black compatriots so that they could buy houses in good neighborhoods.

It went smoothly at first, but then some problems occurred. The white representative wanted his own career and did not want to be a puppet, so he encouraged two people to acquire a second bank controlled by him.

But the white representative messed up in the end. There were problems with the bank's loan accounts, and federal agencies began to intervene. As a result, the acquisition of the bank by two black men was exposed.

At the time, such things were not allowed under the unspoken rules, especially in the more conservative Texas.

This incident caused a great response, and because of problems with their bank accounts, both Gary and Joel were imprisoned for three years and all their property was confiscated.

"Are you related to them?" Locke didn't expect Nick to be related to the two of them, but the focus movie didn't say Nick's specific origin.

"To be exact, it has something to do with their son Garrett." Nick said: "After what happened that year, Mr. Bernard and Mr. Joel left the United States.

But ten years ago, after they made money, they came back here and came to New York, which also gave me the opportunity to meet Mr. Bernard's son Garrett, who helped me a lot.

Now Garrett wants to develop in real estate, but has been unable to implement it due to financial problems. His idea is this..."

After hearing what Nick said, Locke thought to himself, isn't this a subprime loan? This thing is no longer new. It was the thing that brought about the subprime mortgage crisis more than ten years later. But if you really want to count it out, this thing is indeed very profitable. potential.

Use banks to issue loans, and then you can package and sell subprime mortgage contracts to Wall Street at 30% for high-quality loans and 70% for subprime loans.

In this way, banks can not only earn loan interest from high-quality customers, but also attract a large number of borrowers with poor credit and low income to become customers.

You can even quickly get back the loan money from Wall Street and earn another handling fee.

This is the same as many financial games. It's essentially just a matter of beating the drum and passing the trick. As long as you don't become the last one to take over, you won't lose anything.

However, this kind of thing is not suitable for Locke to do by himself. It is too cumbersome and may cause some trouble in case of thunderstorms in the future.

The very thoughtful young man introduced by Nick might be the best candidate. The reason why subprime mortgages cannot be maintained is not only because they spend too much money, but also because housing prices no longer rise.

As long as you pay more attention and notice the danger in advance, exiting will not be a problem. It is not certain whether this young man will be able to resist the temptation and exit.

In the face of greed, too many smart people have failed.

"Your friend is a very ambitious man, just like his father." Locke thought for a moment and said, "He wants to work for me?"

"To be precise, he has been looking for a partner." Nick said carefully.

"I will arrange for someone to discuss cooperation with him. The next thing I want to talk about is your problem." Locke said slowly:

"I have a sum of cash in my hand. You choose a few trustworthy people in your team and follow my requirements to go around with the money.

If it is done well, the matter this time will be forgotten, and there will be a bonus, but your current business will not be touched in the future. "

The money Locke was talking about was the cash from the Cordis family. Because he had been busy with the pound crisis, Locke had only laundered part of the money and gold for such a long time, and most of it was used to pay Damon and the others. .

There is still US$100 million in cash left. Locke is planning to invest in Dongguo and purchase some fixed properties in advance. As for Nick and others, Locke contacted Katalia. With her watching, he is not afraid of Nick and others' little thoughts. .

It's not that Locke looks down on Nick and the others, the liar is not a desperado after all, and Katalia's mind is delicate enough to deal with them.

Nick heard now that Locke was planning to let him work with him, and he agreed without hesitation.

For people like them, having a backer can reduce their sentence to the greatest extent even if something goes wrong and they go to jail. This is a good thing that many colleagues can only dream of.

And at this time, he couldn't help but refuse to agree.

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