The Youngest Son Of A Rich Family Chapter 282

[282] Pandemonium, Wall Street 3

The Goldman Sachs Group Inc., an American investment bank and the largest company in the world’s financial market, started out as a bill trading company founded by German-Jewish Marcus Goldman and led the financial market in the 21st century. took over

A total of more than 30,000 employees in 50 offices in 23 countries sweep money regardless of borders and currencies.

In addition, during the days of Presidents Bill Clinton and George Bush, people from here served as Treasury Secretary and there was even a word called the US Treasury Secretary Academy, and they released all kinds of regulations and gave Goldman Sachs wings.

They fabricated financial books to allow Greece to join the European Union, and as a result, they are considered to be the main culprits of Greece’s bankruptcy and subsequent European financial crisis.

However, this company symbolizes the evils of neoliberalism and financial capital because it made huge profits in the process.

Finally, standing in front of Goldman Sachs headquarters on Friday morning, D-day, the future of the company came to mind.

Even if close to 10 million US citizens lose their jobs or close to 6 million US citizens lose their homes due to the financial collapse of the US, they collect hundreds of billions of won in dividends, collect bonuses, and pop champagne.

A collapsing company will be rebuilt with the people’s blood tax anyway, and again, it will sweep away money by creating derivative products that are no different from fraud.

I was going to spit at least once, but I gave up.

It was because I suddenly thought that I was the same person who took care of money, only in a different way.

“let’s go.”

The TFT team leader who followed me swallowed dry saliva and followed me. The billion-dollar contract made him nervous.

“These crazy bastards…”

As soon as I entered the lobby, I was swearing in Korean.

The lobby of Goldman Sachs was full of things more expensive than those of luxury furniture stores in Nonhyeon-dong.

The marble on the floor and walls was tolerable, but who would have thought of making even the reception desk out of marble?

The chairs prepared for those waiting in the lobby for a very short time are also luxury goods that cost more than 1 million won. Dozens of such chairs are lined up like a subway station.

It was the first time that I had to say money like this. As the curse was about to come out of my mouth once again, the team leader who came with me raised his hand and greeted someone.

When I followed him into the meeting room, three people were already waiting for us. One executive and two managers. Their eyes flashed and they flicked their tongues to swallow my money.

* * *

“I won’t stop you if you really want to, but I have something to tell you out of morals.”

The man who looks the youngest, but has already risen to an executive position, said with a smile.

“Please speak.”

“There are already swaps like this. I signed a contract two years ago…”

Rachel might be one of the people with a good eye.

“The difference is that the contract I signed two years ago pays a premium premium every month. At first, premiums were low, but as the price of mortgage-backed securities rose, premiums rose. Now it’s about to pay 9% of insurance premiums. We are taking a huge loss.”

“So you’re saying we want to do it on a monthly basis instead of a yearly basis?”

“no. I’m just informing you. If you believe the rumor that mortgage loans are insolvent, you will lose a lot.”

“Did you know that a variable interest rate will be applied to mortgage loans starting this year? Do you think there is no insolvency when the delinquency rate is already increasing?”

I wanted to see what they were thinking.

I wonder if he really believes it is safe or if he is trying to cover up his insolvency.

“Mr. Jin Securities is not a loan. AAA rating is basic, and there is a little bit of bad loans mixed in. So it’s a good product. The AAA level makes up for the loss of the B level. You wouldn’t throw away a steak just because it had a tough tendon stuck in it, right?”

“Right now, house prices are going through a bit of a correction because they are so high. There is no collapse.”

One of the managers also quietly opened his mouth.

“I understand what Goldman Sachs is thinking. But not to the point of recanting our thoughts. Oh sure, thank you for the information.”

The young executive shrugged and clasped his palms together.

“Then, shall we take a closer look at Miracle’s thoughts?”

The three opened the summary we had prepared and read it in an instant.

“The product analysis is excellent. After all, it is a miracle.”

“As long as we can agree on just two things, the contract will be fine.”

Seeing their satisfied faces, I slowly opened my mouth.

“Even if the insurance money is paid monthly, I will accept it. In addition, there is a precedent in which premium conditions have already been concluded, so we will follow that method.”

The team leader who came with me looked at me with a worried expression.

With a premium, when the value of a security rises, the premium to be paid rises sharply. Insurance premiums can soar to levels that may quickly become unaffordable.

I nodded lightly at him. It was a signal to be relieved, but the worry did not disappear from his face.

“Since you do what we have to say, it feels like it’s getting better, doesn’t it? haha.”

Another condition was said before the young executive’s laugh ended.

“Similarly, there is a precedent, so insurance is 4.8%.”

He smiled and showed his disapproval.

“The same conditions as two years ago? Would that be a bit difficult?”

“Why is it hard? If the value of the housing guarantee bond has fallen, the risk has risen, so the insurance money should also go up, but isn’t the value of the security steadily rising compared to two years ago? Doesn’t this mean the risk is reduced? Even if the conditions are the same, it seems like there is no problem…?”

The three people, who had been flicking their tongues, exchanged whispers among themselves after asking for understanding.

After a while, he cleared his throat with a clearing of his throat and said.

“How much do you think the swap amount is?”

“Sounds like you’re willing to accept my terms based on the amount?”

“That’s right. If it exceeds $100 million, I will sign it at 4.8%.”

done!

Even if it was 5% or 6%, I would have accepted it. There are few places that digest large amounts of money at once like Goldman Sachs.

“The remaining problems are solved at once.”

Seeing my bright smile, the three of them made puzzled faces.

“Since it’s 1 billion dollars, wouldn’t it be possible to arrange the entire amount and insurance rate at once?”

Their expressions were truly worth seeing.

I was surprised at the huge amount, and I was also delighted that a huge amount of free money, 4.8% of 1 billion dollars, or 48 million dollars, was rolling in.

And just a little bit, as if holding an ace four card on a poker board, there was also a weak figure shaking in a pungka.

“Can I interpret your absence as a good thing?”

“Oh, excuse me. Of course, you can interpret it well. No should we ask? haha.”

The team leader who came with me constantly sent and received text messages. We are checking the situation of employees visiting other financial institutions in real time.

I wrote the number on the blank of the thick contract.

4.8% and $1 billion.

The moment I finished signing the contract, I and they all smiled.

How common are contracts where both sides are so satisfied?

I pushed my chair and got up and shook hands one by one. Power comes into your hands automatically.

At this time, the team leader who came with me whispered in my ear.

“All 26 locations, including London, have signed contracts.”

Looking at my even brighter smile, a young Goldman Sachs executive said.

“Looks like you have some good news.”

“yes. The good news is that we have signed a very nice contract.”

“Oh, congratulations. Could you give me a hint of what it is about?”

“You will find out soon. It’s hard to hide this anyway. Doesn’t Wall Street have walls that hide secrets?”

There are two things that spread word of mouth quickly. Either someone hit the jackpot or kicked the jackpot.

“You should keep your ears wide open. Isn’t Miracle famous as a successful investment?”

He doesn’t realize how big of a contradiction he is.

I even signed the contract, so now it’s irreversible. I gave him some hints.

“Our Miracle is famous for its successful investments. Then, wouldn’t the contract we signed here today be a success?”

I lightly shook the thick contract.

Our success means their failure. A successful deal that satisfies both sides is… very rare.

Then the smiles disappeared from their faces.

Humans are reluctant to think about bad things. So the possibility is reduced.

They must be feeling the worst nightmare of a collapse in the US housing market, a possibility that has been reduced to a minimum, as if it would never happen.

“Well, time will tell who this deal will be successful for. Then…”

Leaving the frozen people behind, he left the conference room.

The sunny New York sky is even more beautiful today.

“Shall we go to lunch? How about a delicious hot dog and hot coffee?”

I took the team leader with a still anxious expression and walked to the food truck on the corner.

* * *

That afternoon, all employees of Miracle were given a generous bonus and let them leave early.

I wanted to share my happy heart even a little bit, and I know that the best way to do that is to spend money I never thought of and a leisurely time to spend that money.

Wanting to celebrate alone, I went to the bar I went to with Rachel.

As I sipped my beer and laughed, I heard gossips from all over the bar.

“Have you heard that Miracle has been doing crazy things all day today…?”

“of course. Is there anyone who doesn’t know about it?”

“How much did you sow?”

“I don’t know the exact amount, but thanks to Miracle, it must have been a money feast, right? I heard that our Deutsche Bank alone is worth 12 million dollars.”

“Damn the executives must have got bonuses again.”

“Aren’t you anxious? If Miracle’s madness works, they’ll have to pay $240 million. All the departments that signed the contract are mothers.”

“Have you seen crazy work? I have to pay huge insurance money from now on… Miracle seems to be closing its doors too.”

But they couldn’t laugh at my madness.

If you think about one place, it is true that Miracle did something crazy. However, everyone assumes that the amount of money poured into Wall Street is staggering. If you make a few phone calls, you’ll find out that it’s billions, and when you’re crazy enough, everyone starts to think seriously.

Because of this, there were worried whispers from all over the bar, but no laughter.

“Did you know they did the same thing in London?”

“London? The City?”

“okay. I heard you pitched a $600 million credit default swap contract to the Bank of England. Couldn’t it have been a real tens of billions of dollars swap?”

“If it really is. What if Miracle’s bet is correct?”

“How is it? Fuck all of Wall Street.”

It’s Friday evening. Two days from now until Monday.

Those who read the warning light quickly will gather their minds and have an emergency meeting and busily work, and those who still think I’m crazy will revel in the fact that they caught a big one.

“Hey Son.”

The gray-haired middle-aged bartender put a beer bottle in front of me and said.

“Didn’t you and Rachel do $70 billion or something here last time?”

“It was. Do you know Rachel?”

“of course. She’s a regular here. My daily routine is to have a couple of my favorite cocktails and go home from work.”

“okay.”

“I know Rachel is the boss of Miracle. So, does the Miracle madness that goes around here and there have anything to do with that 70 billion dollars?”

The bartender couldn’t hide his curiosity and asked with his eyes shining.

I wanted to have a drink in peace, but the excitement was broken.

I pulled out a hundred dollar bill from my wallet and put it up.

“Have you bought a house with a loan?”

“no. I have no debt.”

“I’m glad I did. Then sell this bar before it’s too late.”

“what?”

The bartender, stunned, didn’t even think to take a hundred bucks.

“You sell alcohol on Wall Street, where only unemployed people run, and you go bankrupt.”

I smiled lightly at the bartender with a blank expression and left the New York night streets.

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