Chapter 1225
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After so many years in the "river and lake", it is not difficult for Gao Xian to calmly sort out the places where he can be attacked. There are even traces to follow in the world. During the battle for power, the riot at the Ritz Hotel in London was an attempt to destroy Gao Xian's prestige foundation for holding public office; when it came to the transfer of benefits, for example, Gao Yili, who had been following Gao Xian's boss Ye Licheng, was invited to the ICAC for tea , trying to use this to discover Gao Xian's use of power for personal gain; even more so at the political level, the relationship with a certain party that is still being pursued and intercepted by open flames, such as the most prominent of the next generation of the Gao family, Ping An, "walking on the road" from time to time. A bumpy attempt to force Gao Xian into a corner in a roundabout way.
Similarly, after so many years of rolling in the "river and lake", Gao Xian is still standing tall, and naturally has a well-thought-out defense mechanism. In Gao Xian's view, the most fundamental principle is to reduce complexity to simplicity Capture the general trend and step on the drumbeat of the times, and the world will work together. Otherwise, the hero will not be free, and walking on the right foot first this morning is an excuse for crusade.
This trip to Washington is a way to accurately capture the general trend.
As for Hong Kong governor Wei Yixin will be replaced, it is not a general trend. The demand for Hong Kong governor has changed from diplomats to politicians, and Gao Xian has some ideas about this. People have emotions. There is still a short period of time before Yixin leaves the position of Governor of Hong Kong. Maybe he can use this gap to make some articles.
Of course, we have to wait for the opportunity when we return to Xiangjiang. Don't be in a hurry, let's deal with the affairs in front of us first.
Arriving at the Peanut Stew National Airport, Gao Xian soon saw Greenspan who came to greet him. As the chairman of the Federal Reserve, even if he came to pick up an old friend in private, it would inevitably surprise outsiders. During the "lost decade" between retiring from the chairmanship of the U.S. Economic Advisory Committee and serving as the chairman of the Federal Reserve, Gao Xian managed the friendship between the two very well, so much so that Greenspan himself regarded coming to greet Gao Xian in person as a blessing. Of course.
"I heard that the Xiangjiang Global Financial Leaders Investment Summit is very successful and has been widely recognized by international financial institutions. It will become an annual regular meeting in the future." Greenspan congratulated Gao Xian on the achievement of building a circle of friends.
Gao Xian also expressed condolences to Greenspan, "Recently, the relationship with the White House has become more and more tense, and the pressure must be great."
Greenspan inevitably snorted suspiciously, "It's okay, the Federal Reserve System is independent of the government, and I am only responsible to Congress."
Looking at the macro-control actions of central bank governors, since Greenspan took office as chairman of the Federal Reserve in 1987, monetary policy has been loosened first and then tightened.
After the global stock market crash broke out on Black Monday in 1987, Greenspan cut interest rates decisively, provided market liquidity, and saved the stock market. Naturally, he won applause from all sides including Wall Street and the White House. However, after the stock market crisis was resolved, Greenspan Pan made a 180-degree turn in his attitude and began to tighten monetary policy. Now the federal benchmark interest rate has reached 9.75%, which is about three times higher than before the global stock market crash on Black Monday in 1987. percent.
You should know that under normal circumstances, people often hear that the unit of the adjustment range is the basis point, that is, one ten-thousandth, one ten-thousandth one percent.
As far as the effect of this kind of loosening and tightening monetary policy is concerned, it is really hard to say. The economic recession in the world's major capitalist markets in the early 1990s and the regulation of the Federal Reserve are the cause and the effect.
It is not even clear whether a central bank was really active when it punctured a stock market bubble, or whether it was passive as a last resort under the influence of the Fed's regulation.
Greenspan's tightening of monetary policy naturally suppressed various indicators of economic development in the United States, which made Bush Sr., who was sitting as the president of the United States, very upset because he took over a mess.
One of the major policy features of the Reagan Administration was low taxes, but the Star Wars program was launched. Regardless of whether it was fooling the Soviet Union or not, objectively, the expenditures increased sharply, resulting in a huge fiscal deficit for the Federal Administration. As the successor, Bush Sr. We must rely on economic development to fill in the holes.
What's more, next year is the year of the general election, and Bush Sr. is still thinking about re-election, but the Fed doesn't cooperate with him to stimulate the economy to win votes. It's strange that he feels happy.
Gao Xian can understand Greenspan's current difficulties. The Fed really dare not say that it will simply cut interest rates. It is because of the superficial prosperity of the Reagan administration that left a mess.
The U.S. capital market in the 1980s was often associated with a label, that is, junk bonds. Bonds with extremely low credit ratings mean extremely high business risks, so this unrestrained speculative lending has caused the current US banking crisis.
International banks at the level of Chase Bank all ask Gao Xian for "financial skills", which shows the extent of the banking crisis in the United States. Even the big bosses on Wall Street cannot escape.
It needs to be pointed out that there are as many banks in Hong Kong as there are crucian carp crossing the river, and there are even more banks in the United States.
In addition to the well-known Wall Street giants such as JP Morgan, Chase, and Citigroup, the United States also has large and small commercial banks such as Ocean Miran Bank, which is wholly-owned by Huifeng Bank, as well as savings and credit banks. policy bank.
In the current banking crisis in the United States, the savings and credit banks are system-wide, and the losses are estimated to be between US$500 billion and US$1 trillion; For example, in the first year of Bush Sr.’s tenure, 206 companies closed down; in the second year of Bush Sr.’s term, that is, last year, 159 companies closed down; the final data for this year is not yet available. According to the statistics, there must be hundreds of them, and the momentum is unabated. It is about to set a record for the largest number of bank failures in a financial crisis.
In this situation where unrestrained speculative lending caused a banking crisis, Greenspan, the head of the Central Bank of the United States, still worked hard to provide liquidity, reduced the ratio of bank reserves, and took out about 120 Hundreds of millions of dollars in emergency relief, but with little success.
[Currently used, the app with the most complete and best audio for listening to books, integrated with 4 major speech synthesis engines, over 100 kinds of timbres, and an artifact that supports offline reading, huanyuanapp.com Source App]
Gao Xian revealed some mysteries in a joking way, "You don't need to worry too much about this banking crisis. As long as the international institutions on Wall Street don't collapse, it's not a real crisis. Maybe you'll be happy." See those failing banks being purged from the financial system to make room in the market."
Greenspan smiled, but didn't answer.
Gao Xian asked casually: "By the way, it won't be too difficult to acquire those bankrupt bank assets?"
"There is a specialized agency called the Liquidation Trust Company to deal with these messes. It shouldn't be too difficult for American banks to deal with it." share.
Gao Xian nodded, "Then I'll let Haimilan Bank of Huifeng Bank Group try it. While helping to solve this banking crisis, I will take this opportunity to expand my business network."
"So that's what you planned." Greenspan suddenly realized, "Let me just say, Gao Yimi is mainly engaged in the field of investment banking, and it is still unable to break through the firewall between commercial banks and investment banks."
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After so many years in the "river and lake", it is not difficult for Gao Xian to calmly sort out the places where he can be attacked. There are even traces to follow in the world. During the battle for power, the riot at the Ritz Hotel in London was an attempt to destroy Gao Xian's prestige foundation for holding public office; when it came to the transfer of benefits, for example, Gao Yili, who had been following Gao Xian's boss Ye Licheng, was invited to the ICAC for tea , trying to use this to discover Gao Xian's use of power for personal gain; even more so at the political level, the relationship with a certain party that is still being pursued and intercepted by open flames, such as the most prominent of the next generation of the Gao family, Ping An, "walking on the road" from time to time. A bumpy attempt to force Gao Xian into a corner in a roundabout way.
Similarly, after so many years of rolling in the "river and lake", Gao Xian is still standing tall, and naturally has a well-thought-out defense mechanism. In Gao Xian's view, the most fundamental principle is to reduce complexity to simplicity Capture the general trend and step on the drumbeat of the times, and the world will work together. Otherwise, the hero will not be free, and walking on the right foot first this morning is an excuse for crusade.
This trip to Washington is a way to accurately capture the general trend.
As for Hong Kong governor Wei Yixin will be replaced, it is not a general trend. The demand for Hong Kong governor has changed from diplomats to politicians, and Gao Xian has some ideas about this. People have emotions. There is still a short period of time before Yixin leaves the position of Governor of Hong Kong. Maybe he can use this gap to make some articles.
Of course, we have to wait for the opportunity when we return to Xiangjiang. Don't be in a hurry, let's deal with the affairs in front of us first.
Arriving at the Peanut Stew National Airport, Gao Xian soon saw Greenspan who came to greet him. As the chairman of the Federal Reserve, even if he came to pick up an old friend in private, it would inevitably surprise outsiders. During the "lost decade" between retiring from the chairmanship of the U.S. Economic Advisory Committee and serving as the chairman of the Federal Reserve, Gao Xian managed the friendship between the two very well, so much so that Greenspan himself regarded coming to greet Gao Xian in person as a blessing. Of course.
"I heard that the Xiangjiang Global Financial Leaders Investment Summit is very successful and has been widely recognized by international financial institutions. It will become an annual regular meeting in the future." Greenspan congratulated Gao Xian on the achievement of building a circle of friends.
Gao Xian also expressed condolences to Greenspan, "Recently, the relationship with the White House has become more and more tense, and the pressure must be great."
Greenspan inevitably snorted suspiciously, "It's okay, the Federal Reserve System is independent of the government, and I am only responsible to Congress."
Looking at the macro-control actions of central bank governors, since Greenspan took office as chairman of the Federal Reserve in 1987, monetary policy has been loosened first and then tightened.
After the global stock market crash broke out on Black Monday in 1987, Greenspan cut interest rates decisively, provided market liquidity, and saved the stock market. Naturally, he won applause from all sides including Wall Street and the White House. However, after the stock market crisis was resolved, Greenspan Pan made a 180-degree turn in his attitude and began to tighten monetary policy. Now the federal benchmark interest rate has reached 9.75%, which is about three times higher than before the global stock market crash on Black Monday in 1987. percent.
You should know that under normal circumstances, people often hear that the unit of the adjustment range is the basis point, that is, one ten-thousandth, one ten-thousandth one percent.
As far as the effect of this kind of loosening and tightening monetary policy is concerned, it is really hard to say. The economic recession in the world's major capitalist markets in the early 1990s and the regulation of the Federal Reserve are the cause and the effect.
It is not even clear whether a central bank was really active when it punctured a stock market bubble, or whether it was passive as a last resort under the influence of the Fed's regulation.
Greenspan's tightening of monetary policy naturally suppressed various indicators of economic development in the United States, which made Bush Sr., who was sitting as the president of the United States, very upset because he took over a mess.
One of the major policy features of the Reagan Administration was low taxes, but the Star Wars program was launched. Regardless of whether it was fooling the Soviet Union or not, objectively, the expenditures increased sharply, resulting in a huge fiscal deficit for the Federal Administration. As the successor, Bush Sr. We must rely on economic development to fill in the holes.
What's more, next year is the year of the general election, and Bush Sr. is still thinking about re-election, but the Fed doesn't cooperate with him to stimulate the economy to win votes. It's strange that he feels happy.
Gao Xian can understand Greenspan's current difficulties. The Fed really dare not say that it will simply cut interest rates. It is because of the superficial prosperity of the Reagan administration that left a mess.
The U.S. capital market in the 1980s was often associated with a label, that is, junk bonds. Bonds with extremely low credit ratings mean extremely high business risks, so this unrestrained speculative lending has caused the current US banking crisis.
International banks at the level of Chase Bank all ask Gao Xian for "financial skills", which shows the extent of the banking crisis in the United States. Even the big bosses on Wall Street cannot escape.
It needs to be pointed out that there are as many banks in Hong Kong as there are crucian carp crossing the river, and there are even more banks in the United States.
In addition to the well-known Wall Street giants such as JP Morgan, Chase, and Citigroup, the United States also has large and small commercial banks such as Ocean Miran Bank, which is wholly-owned by Huifeng Bank, as well as savings and credit banks. policy bank.
In the current banking crisis in the United States, the savings and credit banks are system-wide, and the losses are estimated to be between US$500 billion and US$1 trillion; For example, in the first year of Bush Sr.’s tenure, 206 companies closed down; in the second year of Bush Sr.’s term, that is, last year, 159 companies closed down; the final data for this year is not yet available. According to the statistics, there must be hundreds of them, and the momentum is unabated. It is about to set a record for the largest number of bank failures in a financial crisis.
In this situation where unrestrained speculative lending caused a banking crisis, Greenspan, the head of the Central Bank of the United States, still worked hard to provide liquidity, reduced the ratio of bank reserves, and took out about 120 Hundreds of millions of dollars in emergency relief, but with little success.
[Currently used, the app with the most complete and best audio for listening to books, integrated with 4 major speech synthesis engines, over 100 kinds of timbres, and an artifact that supports offline reading, huanyuanapp.com Source App]
Gao Xian revealed some mysteries in a joking way, "You don't need to worry too much about this banking crisis. As long as the international institutions on Wall Street don't collapse, it's not a real crisis. Maybe you'll be happy." See those failing banks being purged from the financial system to make room in the market."
Greenspan smiled, but didn't answer.
Gao Xian asked casually: "By the way, it won't be too difficult to acquire those bankrupt bank assets?"
"There is a specialized agency called the Liquidation Trust Company to deal with these messes. It shouldn't be too difficult for American banks to deal with it." share.
Gao Xian nodded, "Then I'll let Haimilan Bank of Huifeng Bank Group try it. While helping to solve this banking crisis, I will take this opportunity to expand my business network."
"So that's what you planned." Greenspan suddenly realized, "Let me just say, Gao Yimi is mainly engaged in the field of investment banking, and it is still unable to break through the firewall between commercial banks and investment banks."
After so many years in the "river and lake", it is not difficult for Gao Xian to calmly sort out the places where he can be attacked. There are even traces to follow in the world. During the battle for power, the riot at the Ritz Hotel in London was an attempt to destroy Gao Xian's prestige foundation for holding public office; when it came to the transfer of benefits, for example, Gao Yili, who had been following Gao Xian's boss Ye Licheng, was invited to the ICAC for tea , trying to use this to discover Gao Xian's use of power for personal gain; even more so at the political level, the relationship with a certain party that is still being pursued and intercepted by open flames, such as the most prominent of the next generation of the Gao family, Ping An, "walking on the road" from time to time. A bumpy attempt to force Gao Xian into a corner in a roundabout way.Similarly, after so many years of rolling in the "river and lake", Gao Xian is still standing tall, and naturally has a well-thought-out defense mechanism. In Gao Xian's view, the most fundamental principle is to reduce complexity to simplicity Capture the general trend and step on the drumbeat of the times, and the world will work together. Otherwise, the hero will not be free, and walking on the right foot first this morning is an excuse for crusade.This trip to Washington is a way to accurately capture the general trend.As for Hong Kong governor Wei Yixin will be replaced, it is not a general trend. The demand for Hong Kong governor has changed from diplomats to politicians, and Gao Xian has some ideas about this. People have emotions. There is still a short period of time before Yixin leaves the position of Governor of Hong Kong. Maybe he can use this gap to make some articles.Of course, we have to wait for the opportunity when we return to Xiangjiang. Don't be in a hurry, let's deal with the affairs in front of us first.Arriving at the Peanut Stew National Airport, Gao Xian soon saw Greenspan who came to greet him. As the chairman of the Federal Reserve, even if he came to pick up an old friend in private, it would inevitably surprise outsiders. During the "lost decade" between retiring from the chairmanship of the U.S. Economic Advisory Committee and serving as the chairman of the Federal Reserve, Gao Xian managed the friendship between the two very well, so much so that Greenspan himself regarded coming to greet Gao Xian in person as a blessing. Of course."I heard that the Xiangjiang Global Financial Leaders Investment Summit is very successful and has been widely recognized by international financial institutions. It will become an annual regular meeting in the future." Greenspan congratulated Gao Xian on the achievement of building a circle of friends.Gao Xian also expressed condolences to Greenspan, "Recently, the relationship with the White House has become more and more tense, and the pressure must be great."Greenspan inevitably snorted suspiciously, "It's okay, the Federal Reserve System is independent of the government, and I am only responsible to Congress."Looking at the macro-control actions of central bank governors, since Greenspan took office as chairman of the Federal Reserve in 1987, monetary policy has been loosened first and then tightened.After the global stock market crash broke out on Black Monday in 1987, Greenspan cut interest rates decisively, provided market liquidity, and saved the stock market. Naturally, he won applause from all sides including Wall Street and the White House. However, after the stock market crisis was resolved, Greenspan Pan made a 180-degree turn in his attitude and began to tighten monetary policy. Now the federal benchmark interest rate has reached 9.75%, which is about three times higher than before the global stock market crash on Black Monday in 1987. percent.You should know that under normal circumstances, people often hear that the unit of the adjustment range is the basis point, that is, one ten-thousandth, one ten-thousandth one percent.As far as the effect of this kind of loosening and tightening monetary policy is concerned, it is really hard to say. The economic recession in the world's major capitalist markets in the early 1990s and the regulation of the Federal Reserve are the cause and the effect.It is not even clear whether a central bank was really active when it punctured a stock market bubble, or whether it was passive as a last resort under the influence of the Fed's regulation.Greenspan's tightening of monetary policy naturally suppressed various indicators of economic development in the United States, which made Bush Sr., who was sitting as the president of the United States, very upset because he took over a mess.One of the major policy features of the Reagan Administration was low taxes, but the Star Wars program was launched. Regardless of whether it was fooling the Soviet Union or not, objectively, the expenditures increased sharply, resulting in a huge fiscal deficit for the Federal Administration. As the successor, Bush Sr. We must rely on economic development to fill in the holes.What's more, next year is the year of the general election, and Bush Sr. is still thinking about re-election, but the Fed doesn't cooperate with him to stimulate the economy to win votes. It's strange that he feels happy.Gao Xian can understand Greenspan's current difficulties. The Fed really dare not say that it will simply cut interest rates. It is because of the superficial prosperity of the Reagan administration that left a mess.The U.S. capital market in the 1980s was often associated with a label, that is, junk bonds. Bonds with extremely low credit ratings mean extremely high business risks, so this unrestrained speculative lending has caused the current US banking crisis.International banks at the level of Chase Bank all ask Gao Xian for "financial skills", which shows the extent of the banking crisis in the United States. Even the big bosses on Wall Street cannot escape.It needs to be pointed out that there are as many banks in Hong Kong as there are crucian carp crossing the river, and there are even more banks in the United States.In addition to the well-known Wall Street giants such as JP Morgan, Chase, and Citigroup, the United States also has large and small commercial banks such as Ocean Miran Bank, which is wholly-owned by Huifeng Bank, as well as savings and credit banks. policy bank.In the current banking crisis in the United States, the savings and credit banks are system-wide, and the losses are estimated to be between US$500 billion and US$1 trillion; For example, in the first year of Bush Sr.'s tenure, 206 companies closed down; in the second year of Bush Sr.'s term, that is, last year, 159 companies closed down; the final data for this year is not yet available. According to the statistics, there must be hundreds of them, and the momentum is unabated. It is about to set a record for the largest number of bank failures in a financial crisis.In this situation where unrestrained speculative lending caused a banking crisis, Greenspan, the head of the Central Bank of the United States, still worked hard to provide liquidity, reduced the ratio of bank reserves, and took out about 120 Hundreds of millions of dollars in emergency relief, but with little success.Currently used, the app with the most complete and best audio for listening to books, integrated with 4 major speech synthesis engines, over 100 kinds of timbres, and an artifact that supports offline reading, huanyuanapp.com Source AppGao Xian revealed some mysteries in a joking way, "You don't need to worry too much about this banking crisis. As long as the international institutions on Wall Street don't collapse, it's not a real crisis. Maybe you'll be happy." See those failing banks being purged from the financial system to make room in the market."Greenspan smiled, but didn't answer.Gao Xian asked casually: "By the way, it won't be too difficult to acquire those bankrupt bank assets?""There is a specialized agency called the Liquidation Trust Company to deal with these messes. It shouldn't be too difficult for American banks to deal with it." share.Gao Xian nodded, "Then I'll let Haimilan Bank of Huifeng Bank Group try it. While helping to solve this banking crisis, I will take this opportunity to expand my business network.""So that's what you planned." Greenspan suddenly realized, "Let me just say, Gao Yimi is mainly engaged in the field of investment banking, and it is still unable to break through the firewall between commercial banks and investment banks."
