Greenspan spoke slowly at this time: "Second, the Federal Reserve Bank will invest in acquiring all credit loan products in the secondary market. The conversion rate is 0.35, which is 100 US dollars of debt. The Federal Reserve Bank will invest 35
U.S. dollars for bailout purchases.”
"To this end, the Federal Reserve Bank will prepare 300 billion US dollars to implement this plan. This money will be put into the market immediately when the market opens tomorrow."
Greenspan's second exit shocked everyone present.
Although the conversion rate of 0.35 is very shabby, everyone understands that this is the biggest compromise the Federal Reserve Bank can make.
After all, this money is equivalent to being given free of charge by the Federal Reserve and the Central Bank to rescue the market. Since it is given away for free, then don't be picky.
Likewise, everyone understands why the Federal Reserve and Washington gave up on Lei Man.
Just imagine, the Federal Reserve and the Central Bank's rescue plan only used a total of 300 billion U.S. dollars. To pull Leiman out of this quagmire, Leiman's own liabilities alone will have to pay 200 billion U.S. dollars. Who will die if Leiman doesn't die?
Everyone looked at Doug with more and more sympathy.
They know very well that if nothing unexpected happens, Doug’s Leiman may have no chance of getting the US$300 billion.
Having a clear view of everyone's thoughts below, Greenspan remained expressionless as he announced the third piece of news meticulously.
"The third and most important one is that from now on, the Federal Reserve Bank will comprehensively review all credit housing loans across the federation, and work with the securities regulatory authorities and the tax and finance departments to thoroughly clean up all illegal lending practices."
Speaking of this, Greenspan's eyes swept across everyone present and said softly: "Don't take any chances. All the above terms have been approved by the top brass, so there is no room for refutation or bargaining.
.”
Closing the document and placing his palms on top of it, Greenspan said calmly: "These are the measures currently prepared by the Federal Reserve and the Central Bank. I hope everyone can understand that the current bad situation is not caused by Li Jin, but by the economic system itself.
reasons."
"So, more of us should look for the reasons within ourselves. The overheating economy and the disorderly rise in real estate values. You know better than anyone who is the real driving force behind the scenes."
"With that said, the meeting is dismissed."
After speaking, Greenspan's eyes fell on Buffett and said calmly: "Mr. Buffett, please stay for a while, and the others can leave."
Although there were many doubts and dissatisfaction in the stomach, Greenspan said so, and no one dared to challenge the authority of the dollar pope on such an occasion, and everyone stood up and left quietly.
After everyone left, only Greenspan and Buffett were left in the conference room.
The slightly obese Buffett seemed to be more talkative in front of the lean and serious Greenspan. He said with a smile: "You kept me here specifically because you have any inconvenience to say to me in front of them."
?”
Greenspan nodded and said: "Mr. Buffett, I know that the investment companies and funds under your name have just dumped US$2 billion in assets in the secondary market."
Buffett nodded and said: "Yes, and I gave the order. This incident made me realize that there are serious problems in the U.S. secondary market, and I need to be responsible to my investors."
Greenspan nodded and said: "Yes, so I understand your decision very well."
"Then can I leave?" Buffett asked.
Greenspan ignored Buffett's remark and asked, "Mr. Buffett, I need you to give me some advice. Do you personally think the situation in the secondary market is hopeless?"
"Yes."
Buffett's answer was so decisive that Greenspan found it difficult to accept.
"The real estate industry in the United States has continued to rise for 10 years. During these 10 years, too many economic derivatives have appeared. Personal credit contracts are sold as futures in the secondary market. This is only the most representative one, but it cannot