At this moment, as Jasper increased his efforts in short-selling, the confidence that had just been boosted in the subprime market began to collapse. It would inevitably take a certain amount of time for Quantum Fund to withdraw funds from the stock market to save it.
What was terrible about this was that the
market would not give them time at all!
As he thought about this, Rogers picked u
p the phone.
“I’m asking to speak with the chairman of
Layman Investment Bank.”
“I’m sorry, the chairman is currently in a n emergency meeting and can’t come to the phone. Do you need me to inform him of your request after he’s done?”
As he listened to the voice on the other end of the phone, Rogers gritted his teeth and hung up.
After this short call, Rogers saw that the entire market had begun to collapse like a n avalanche when he looked up at the screen again.
The speed of this collapse was almost
faster than the speed of the stock market
crash.
“What’s going on?”
Rogers yelled in disbelief.
Someone barged in through the door of the office and Rogers saw the manager who had just left run in again with a pale face. “Sir, the country’s largest real estate investment trust, Public Storage, announced that it will completely clean up
the company’s bad credit loans and they
will not accept any new loan applications.
“In addition to this, funds will be gradually collected for the loans that have already been issued. Then, the company will begin to clean up the inventory funds that they had invested into the subprime market.”
As soon as he said this, Rogers felt his chest getting heavier and his vision suddenly went black.
He fell back on his chair and gritted his teeth, then said helplessly, “The thing I fear the most eventually happened. The
crisis in the subprime market is too big. If there are any movements, there will be a chain reaction. If we lose this time, it’s not Jasper who defeated us, on the contrary, it’s us that defeated us!”
“Sir, what are we going to do now that we can’t get ahold of the chairman?”
The manager’s face turned pale, and he said hurriedly, “The market has already reacted to this news and we saw that there is countless capital from institutions and retail investors fleeing the market. The whole market is full of sell offers, and we simply can’t follow them all.
“Even if… Even if we do follow all of them, we’ll only be faced with liquidation at the end of the day unless we have the power t o devour tens of trillions of debt in the subprime market…”
“Tens of trillions of debt…
Rogers looked at the manager like he was a fool. Then, he roared, “Those damned businessmen and banks that are ruthless and lacking in conscience! They should have expected this when they sold a loan debt as a high-quality asset package to
the market.
“We… shouldn’t do anything.”
Roger closed his eyes slowly and said
painfully, “We can’t control the current
situation now. We can only wait for the
decision of the Feds.”
“However, don’t we still have Wall Street
and other capital as backup?” The
manager suggested.
“Other capital?”
Roger opened his eyes to look at the manager. He said challengingly, “Which one of those capital pools didn’t already invest huge amounts of funds in the subprime market? Once this market collapses, all of them will perish. So, do you think they’re still in the mood to care about this right now?
“It’s good enough that they didn’t withdraw their funds immediately to add fire to the fuel. Only the Feds have the ability and qualification to get everyone together to rescue the market-we don’t!”
