Chapter 643: Turning Point
The US$700 billion rescue plan mainly includes the first authorized US$250 billion that can be used when the plan is approved by Congress and put into practice. The other US$100 billion can be used when the President deems it necessary. The remaining three The US$150 billion must be approved by Congress before it can be used.
Eligible assets include residential or commercial mortgage loans and related financial instruments issued or issued on or before March 14, 2008. Other financial instruments can be included on the premise of notifying Congress and negotiating with the Federal Reserve Board Come in.
In order to guarantee the rights and interests of taxpayers, there are also a series of binding clauses. For example, the Ministry of Finance has the power to decide how to purchase assets, and foreign central banks or foreign government-owned institutions cannot participate in this plan. This is equivalent to saying that investors like Zhou Ziye cannot compete with the US government. As long as it is a project supported by the US government, no one else can compete.
In addition, the government will hold part of the shares in financial companies that have received government assistance so that taxpayers can share their profits after these companies regain a foothold. Except for companies with less than US$100 million in non-performing assets purchased by the government. If the financial company that received the government's rescue eventually goes bankrupt, the government will be one of the investors whose interests are protected most.
When the Ministry of Finance holds shares in a company, the salary and benefits of the company's senior management will be restricted. After the government purchased more than US$300 million in non-performing assets in a company, those hired as senior managers of the company did not meet the conditions for obtaining a "golden parachute" (a great financial security after losing the job). Allowing the Fed to pay interest on bank reserves from October 1st is another means to ease the credit crunch.
The federal government can stop the foreclosure process for home loans purchased under this program. In addition to this plan, the Ministry of Finance will consider implementing an alternative insurance plan, that is, providing insurance for the company's problem loans and obtaining company shares. If the government still loses money five years after the implementation of this plan, the Ministry of Finance will draw up a plan to levy taxes on companies that have received government assistance to compensate taxpayers for their losses.
To be sure, this rescue plan is quite sincere and effective, but at such a time, the use of such a large sum of funds puts a lot of pressure on the overall economy of the United States.
The two main questions here are, where does the money come from? ! What will the result be? ! Former Fed Chairman Alan Greenspan pointed out that the financial rescue plan only reduced the destructiveness of the financial crisis, but there is no way to fundamentally contain the financial turmoil. He pointed out that for the financial rescue program itself, because the specific details of the implementation are not clear, the market's expectations are not high, and the rescue program cannot completely eliminate the negative impact of the bursting of the US housing market bubble. He also believes that it will take a long time to rebuild market confidence.
The new fiscal year of the United States begins on October 1. Only three days after the beginning of the new fiscal year, the passing of the rescue plan will set a historical record for the fiscal deficit of the United States government-this fiscal year is expected to reach $480 billion.
Who will buy US treasury bonds? The two largest creditor nations of the United States, Japan and China, both claim that their most important figure is to ensure the financial stability of their own countries. The Organization of Seven Nations has also made it clear that it will not provide support to the United States. , This makes the United States simply unable to come up with 700 billion US dollars at a time.
Unable to spend money, and the effect is uncertain, all these worries make the American people have no confidence in the rescue plan. On the morning of October 3rd, the U.S. stock market soared by 3%, but in the afternoon, the stock market continued to fall sharply.
Both the Fed and the Treasury Department have criticized Congress for its procrastination, thinking that Zhou Midnight is holding more than 200 billion U.S. dollars in his hands. However, because of their drag, the current investment in the U.S. market is less than 20 billion U.S. dollars. The help is minimal.
Under such pressure, the audit committee is like a fake, relaxing the review of Zhou Ziye's investment and speeding up the review and approval. In order to avoid touching the sensitive nerves of the Americans, Zhou Ziye deliberately left the United States and returned to China to deal with the second phase of post-disaster reconstruction work.
Since you can take advantage of the Americans, then don't scream in front of them. Seeing the sky stimulates their nerves, who knows what demon moths will make them. Zhou Ziye is still in the country and is still watching every move of the Investment Committee. All investment plans must be authorized by him.
On the contrary, although returning to China was nominally for post-disaster reconstruction, Zhou Ziye did not point fingers in this regard. He has no idea about planning and construction. As long as the reconstruction work is within the framework of their planning, he will not show the limelight in front of people in government departments.
So, every morning, he is sleeping, and he plays with the children during the day, helping to take care of a few little guys who are shaking when they cry. Although Tian Ai is arrogant, but now she is also afraid of those little guys. As soon as she heard the children cry, she ran away. The same is true for Hengyuan. The two of them have always liked to stay in the West Yard and would not easily come to the East Yard.
But in the evening, he got busy, held online meetings with American personnel, handled various official duties, and lived a life turned upside down day and night.
However, due to a stable life and proper care of several wives, Zhou Ziye not only did not lose weight, but on the contrary there was a tendency to gain weight. But now he has a great internal strength, and his body's metabolism is under his own control, so let alone being thin, it's hard to get fat.
This is especially admired by a few wives. Jiang Yue and the other oriental women are a little better. Although they are all mothers, they are in the most glamorous age of their lives and become more attractive. But Amela and Bobby were envious. Western women, no matter how they take care of them, after getting older, their skin and body will age quickly. So I pestered Zhou Ziye every day to clean up their bodies, and now I have begun to practice internal martial arts to delay my aging.
On November 3rd, Zhou Ziye finally obtained approval for its equity investment in Google through the investment company. This is Zhou Ziye's re-investment in the United States after it officially withdrew from the US market in June 2006. The equity investment in the United States was still poor. It took two months to reach the contract period with the Rothschild family, so the official signing time for this investment was placed on January 1, 2009.
After Nathan Rothschild heard the news, he was the first to call Zhou Ziye to transfer his Google stock to Zhou Ziye, and on behalf of the Rothschild family, he reiterated his request to invalidate the previous contract. .
Because of this contract, the Rothschild family has become the object of almost everyone's complaints, and because of this contract, they have become the enemy of almost everyone. This contract was originally a restriction on Zhou Ziye, but now it has become a rope tied to their necks, which they never expected before.
Zhou Ziye used this contract to stay away from the US financial market, evading all risks in the past. Now, in turn, they use this as a bargaining chip and use this as a condition for negotiation, which keeps the Rothschild family on the cusp. This is something that the low-key Rothschild family cannot accept.
Nathan suffered heavy losses in the subprime mortgage crisis this time. Just to make up for the six billion losses, he now needs at least three billion U.S. dollars in cash to fill this hole. Coupled with other losses, the American Rothschild family can be said to have suffered a serious injury.
The downturn in the stock market makes it difficult for them to obtain ideal returns. Some stocks entering the market at a high level make them suffer unbearable losses. If it were not for the rescue of the British branch, their branch would not escape the fate of bankruptcy.
Now they have to ask Zhou Ziye to breach the contract. This is the fact that Nathan is most embarrassed, but he also knows that, let alone him, the entire Rothschild family cannot directly interact with Zhou Ziye, who is in full swing. Against him, not to mention that the British branch is still seeking to re-establish a strategic partnership with him.
This time, Zhou Ziye did not pretend to be reserved anymore, and happily arranged for the staff to sign a letter of understanding with the Rothschild family, ending the previous contract terms, two months in advance, and forbidding that 18 months The contract to enter the U.S. market is voided.
As soon as the news was announced, it was immediately welcomed by the United States. The U.S. government highly appreciated it and believed that Zhou Ziye, as a super rich man, should play a greater role in the crisis in the United States.
As the general manager of Guangbo Investment and deputy general manager of the Bank of East Asia, Wu Danyang held a press conference at the original headquarters of Lehman Brothers in New York. It was officially announced that the time for Guangbo Group to fully enter the U.S. market is ripe. Guangbo Group will fully enter the U.S. infrastructure industry, resource industry, high-tech industry, real estate industry and much-anticipated finance within the scope permitted by the U.S. government. industry.
Once the news was released, it immediately evoked a comprehensive response. The New York Dow Jones and Nasdaq markets immediately rose in response. Everyone knows that the decline of the U.S. market is not the decline of basic industries, but the decline of public confidence. The entry of Zhou Midnight gives everyone strong confidence, which is more conducive than the US government's $700 billion rescue plan. People feel at ease.
After a year of long-term recession in the stock market, no one knows where the stock market will fall. In the original history, it will take another three months before the stock market really bottoms out. But Zhou Ziye obviously can't wait until that time to enter the market, because a huge investment like him can't go through the layers of formalities in a short period of time.
But he himself did not expect that just because of his entry into the market, he could bring such a strong confidence to the U.S. stock market. From the end of the press conference to the closing of the stock market, the stock market rose by more than a hu
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