American Fortune Life

At 7 a.m. on October 1, 2007, the then United States Treasury Secretary, Hank Paulson, was eager to drive to the Fed. He missed his weekly breakfast meeting with Fed Chairman Bernanke because of his business trip last week, which was a troubling time for a subprime mortgage crisis.

UBS suddenly released a report on the day that bank losses amounted to more than 4 billion Swiss francs, about 30. $100 million.

Before Paulson arrived, Bernanke received an email from a Fed employee with a preliminary understanding of the latest market developments. Bernanke knew it would be a bad day because of jet lag, Europe's trading day was coming to an end, and the US market had not yet begun.

Thought it would be a good start in October, after a calm recovery in the market and a modest recovery in house prices in the previous month, the financial crisis seemed to have passed, with economic output in the United States increasing by nearly 4 per cent in the second and third quarters of 2007 and unemployment remaining low.

As a result, Bernanke also concluded to the media that "the impact of inquiries in the subprime mortgage market on the wider economy and financial markets seems likely to be under control. ”

When Paulson and Bernanke sat opposite each other in the restaurant, Bernanke looked at the financial page of the latest Wall Street Journal and couldn't help but laugh: “This Andy Smith really... ”

Paulson shook his head and smiled bitterly. He also understood the embarrassment of his old friend Bernanke. After all, he had just come to the conclusion of the interview. The next day, the media took out the words of Andy Smith, the most prominent financial prodigy, and hit him in the face. He really couldn't hurt himself.

“In fact, Bernanke's judgment was wrong, it was only a brief tranquillity before the storm struck.” - from Andy Smith Facebook

“Every time I see this Andy Smith story, I feel really old. Look, there are beautiful women everywhere I go. The Italian goddess swims with her children in Paris. What an enviable kid.” Paulson didn't want to embarrass his best friend, and he looked at the entertainment version with a tone of voice.

Bernanke just smiled, well, the vast majority of men envy that young and more gold kid. After all, Americans are really very interested in Andy Smith's gossip. Even with a girlfriend, the beauty around them has never been less, and at any age, but jealously, it's all goddess grade, many people are not malicious guesses, Andy Smith's fantastic mouth.

Especially now in Paris, a senior beauty like Monica Belucci, cough, if the two of you are really having an affair, then this is the right Edips love knot!

“Seriously, I don't care about his rebuttal, but I really hope I'm right, and if he's right, the subprime mortgage crisis will turn into a financial storm, and the U.S. economy will be the first to hit Wall Street... ”

Bernanke didn't finish his speech, but Paulson, the treasurer, naturally understood that he couldn't help but gloom, thinking about Andy Smith's dominance in the financial markets for more than a year and all his current prices, he really hasn't missed a single time.

The two people looked up at each other with the same eyes and saw the worry from each other's eyes. After a brief silence, Paulson began by saying: "We cannot ignore what he said, just as he made his people's media report before the crisis began. Prepare early and do not ignore the risks as market participants and regulators did! ”

Bernanke nodded with a bitter smile and said, "Now who can ignore this young man's words and look at the gold, really... As far as I can tell, he bought $4 billion in gold, 174 tons, $648 an ounce at Bank of America, and now he's up to $750 an ounce, making $600 million to lie down for three months! This young man's making too much money. ”

“The most important thing when the crisis comes is to see how investors change their minds. When the stock market plummeted, hedging sentiment rose so high that gold with monetary attributes entered the upward path. Only because the market now sees an increase in the likelihood of another rate cut by the United States Federal Reserve Commission, the depreciation of the United States dollar and the fall in crude oil futures, albeit high, remain high at $81 per barrel, both factors driving up the price of precious metals. ”

Paulson picked up the messenger's breakfast, unfolded the napkin, drank with a cup of high feet filled with water, held the knife and fork, cut the food and said.

“Even with the fear of inflation fuelled by zero interest rate easing in the market, and frequent rate cuts by the Fed this winter to unleash the pressure of the financial crisis, my biggest concern now is whether it will be counterproductive, after all, in a state of panic, anything could happen. ”

Bernanke's eyebrows have been wrinkled into the river, and he has stated his intentions and fears. This is not his lack of purpose. There are already too many such examples. Sometimes, in panic, the more the city panics, the more it fails to save, the disk will collapse, and the vicious circle of firefighting can only continue until it survives.

The same is true of the fact that, after the passing of winter, frequent interest rates have fallen, but house prices have fallen unexpectedly, causing more mortgage-type securities losses, weakening financial units, and the subprime mortgage crisis has turned into a financial crisis, entering its peak.

“Panic...” Paulson also frowned, mumbling in his mouth, his brain spinning rapidly, the market panic was often the biggest enemy of saving the market, mainly people's hearts and minds, and thinking about it, he looked at Bernanke and said, "If one Warren Buffett isn't enough, then we'll set up another Andy Smith, and then the two of us will come out and maybe play a key role in stability. ”

Bernanke's eyes were full, but soon he shook his head with a bit of disappointment, saying, "Buffett can mobilize a lot of money, but it's not personal, and Andy Smith's money is entirely personal, and most importantly at his age. Do you think he would look at wealth lightly at his age? ”

“It's nothing more than profit, and Buffett won't do it for nothing. Whenever it comes to a critical moment, pull him into the plan and put it in front of him. I don't think this greedy young man will give up his chances, if he wants to, he will listen to our arrangement!” Paulson's eyes squinted slightly and his mouth curled slightly.

“His appetite is not too small, look at the previous foot basin, the bank crowd in France, especially in England, and this Andy Smith has never had a soft hand... Well, when a backup plan is good, after all, we don't know how far things will go, so let the mainstream media promote his image. ”

Bernanke said, eventually shook his head and laughed at Paulson. After all, Warren Buffett was too old and America needed a new idol.

And in Paris, Andy, who was walking around the toy store with a beautiful little BABY, didn't know that a lot of people in the United States were thinking about him.

“This? Wow, little Deva, you have such a good eye!” Andy stood in front of a giant two-metre-tall teddy bear with a three-year-old, finger-eating chick, Deva.

Little Deva looked at the big bear and laughed straight at him, stretching his little finger to grab it, "Bear, yes. ”

Monica in a black suit stood behind her with a faint smile on her face and did not care for the puppies photographed on the door glass. The waistline of the suit coat was deliberately retracted to give her a softer, fuller ni figure.

She was happy to see the big boy who could bring her to life drowning in her daughter, and the baby room in her Paris home had been filled with toys Andy had swept away for two days.

Seems Deva likes him very much, too, well, after all, an uncle who can satisfy all her requirements can easily take pleasure in any child.

Deva lay on the tui of the teddy bear and smiled happily, mumbling the Italian bear in her mouth, looking at the big teddy bear more than two meters tall, Monica couldn't help but rip the corner of her mouth and heard Andy's voice, "Is there a new one? Well, send one to this address... ”

“Andy, Deva's room has been filled with toys...” Monica slowly walked forward and said softly.

“Then you should enlarge the room for us, right? Deva.” He squatted down with Deva, laughing at Andy, looked up at Monica and said with no concern.