Manhattan Reborn 1978

A corner of Bonini's restaurant.

The applause of David and others attracted people's attention, and they all turned their heads and looked at them.

Richie smiled and continued chatting with a few people. David motioned to the waiter who was constantly looking in the distance and asked him to help them get another drink.

The waiter brought everyone a glass of wine on a tray, then turned and left.

Then he asked Rich: "After you left DEA, did you still have contact with your former colleagues? Do you know how they are doing now?"

"I recruited all my old guys myself."

"Now, some of them have quit DEA after helping me get rid of Lucas, choosing to find other ways out. After all, this job is too dangerous.

Others have left the east and gone to Miami. I heard that they now have to be pulled by their wives to pray before going out every day. "

hehe~

good guy~

Does this mean that every time you leave for work is the last time you see each other?

At this time, a round-faced, slightly fat, middle-aged man with curly hair and glasses walked in from the door of the restaurant.

He was looking around, looking for something.

Pine noticed Lewis walking in at the door and looking around. He spoke to David, got up and walked towards him.

David turned around and saw that Pine and the middle-aged man had a few words.

Then he was introduced to Polly and George.

It seems that he should be Lewis Ranieri.

"Ludi, please talk to Rich about our security company's development plan and cooperation with the DEA."

"Guys! You guys chat first, I'm going to meet Pine and my friends we made an appointment with in the afternoon."

Everyone nodded and asked David to go ahead and do his work.

David walked towards Lewis holding his own glass of wine, thinking about the details of the project in his mind.

Pine saw David walking over and introduced Lewis to him.

"This is the Lewis Ranieri you are looking for."

"Lewis, he is David, the boss of da company, my partner!"

When David looked closer, Lewis's figure looked even more bloated. I guess he had successfully gained weight after becoming middle-aged!

"Hello! Lewis, I'm David Coleman! Just call me David."

"Hello! Mr. Coleman, I'm glad to meet you. Just call me Lewis.

In the afternoon, Mr. Pine found me. I have been in meetings. I'm sorry that I didn't come to see you until now. "

David smiled and waved his hand: "It's okay, Lewis, you haven't had dinner yet, right? Sit down and eat something, try the authentic Italian food here, we can talk later."

Lewis smiled and patted his belly: "Thank you David, I had already eaten pizza during the meeting just now. It's okay now. Let's just talk about things directly."

"Okay! Then let's go sit over there."

David invited Lewis and Pine, walked to the other corner of the restaurant, then found Giles and Andy in the crowd, and called them over.

The five of them sat down, and David and Lewis chatted about interesting stories about his work at Salomon Brothers and interesting things that happened on Wall Street.

"I thought, David, you would be like those bankers, asking as soon as we met: Are you interested in buying national debt funds or stocks of a certain company? I have a good one here, let me introduce it to you? god!"

"Their way of greeting gives me a headache every day!"

"Who on Wall Street doesn't know that the current stock market is like a stinky puddle that no one wants to get near?"

"You asked me to buy stocks as soon as we met?"

"Oh, shit~"

haha~

Giles smiled and clapped his hands: "Do you usually say hello like this when we meet?"

David also smiled and shook his head: "Haha~, most of my big companies are engaged in industry. Those bankers, their business is also very bad now, right?"

When Lewis heard this question, his expression was full of joking: "Of course! It is an absolute waste industry now!"

"I bet that if you walk on Wall Street for half a day and shout to the crowd: I have money! There will be insurance salesmen and bankers carrying briefcases and wearing suits surrounding you."

"After those bastards see you, they will compliment you exaggeratedly for half an hour, try every means to trick you, and then sell you all kinds of bonds, stocks, and funds that you don't understand."

"He gives you all kinds of guarantees by beating his chest, so that your money will eventually enter his account."

"And those people from some damn accounting firm who do the accounting."

"These guys are even more hateful!"

"For a simple tax return of a few pages, they dare to ask you for tens of thousands of dollars!"

"These **** bastards!"

Well, it seems that for people who work on Wall Street, scolding their peers and accountants is the best way to bring them closer to each other.

Ok. . .

If there were a ranking list for these topics, then scolding Congress and the President might be ranked higher~

In fact, in a broad sense, Lewis Ranieri should also be regarded as a banker.

But even if I beat him to death, he wouldn't admit it~

David smiled and replied: "Yes, if bankers become useless, those companies related to securities now will be a place where people are in a vegetative state!"

"That's right buddy! Haha~"

"Everyone knows what securities are like. You can use the stocks in the stock market as a gift to your child. Maybe when he is 30 years old, you can sell them and get double the money~"

"What he's doing is the junk stocks sold to his clients by those vegetative people~"

Lewis was very talkative and made several people laugh with his unique sense of humor.

After a few people made a few more jokes.

David smiled and turned the topic to the topic of today's meeting: "Lewis, do you know MBS? Can you introduce it to us in detail?"

"mbs?"

A trace of doubt flashed behind Lewis's wide glasses.

He is having a meeting in the company this afternoon, and everyone is discussing topics related to MBS.

"David, you know when we have a meeting in the afternoon..."

David waved his hand and said: "Don't get me wrong, buddy! We were supposed to meet a week ago to talk about MBS."

"It's just that I've been home to see my parents this week, so I delayed this matter."

"I don't know the specific content of your meeting this afternoon. I came to you just because I think your understanding and research on MBS are the most professional. I have some questions here that I want to ask you for advice, that's all! "

After listening to David's explanation, Lewis looked normal on his face, but in his heart he sneered at the words.

Did someone at Salomon leak the information?

It is possible!

However, if this is the case, the person sitting here talking to him today should not be this boy David!

"Okay, buddy, maybe you know something from the people in the Morgan family. Do you have anything to ask? Just ask! But regarding the things discussed at our company meeting, please forgive me, I can't tell you any news."

Pine and Giles looked at each other and laughed.

Giles raised his right hand and said, "Lewis, we don't know the purpose of David coming to you, and we don't know what your company is studying at the meeting or what plans it has."

"David had never told us about this meeting before Pine called you this afternoon."

"So, you can feel free to answer David's questions and have a relaxed chat."

"Because there is no need for us to lie to you about this matter!"

"That's it~"

When Giles spoke, he imitated the way old Morgan usually spoke, speaking slower and slower, and lowered the speed of the last two sentences to half of his usual speaking speed.

Then at the end I added what Forrest Gump likes to say: That’s it~

After this kid once listened to Forrest Gump telling stories at the Wildfire Bar, he chatted with Pine. He felt that Forrest Gump's catchphrase was very cool~!I will definitely use it when I find an opportunity in the future.

Unexpectedly, he actually added this sentence this time~

Pine watched Giles' performance, pursed his lips and raised his eyebrows at David.

David scratched the stubble that had just sprouted on his chin, a little speechless.

This~. .Who should I learn from?

Why do you have to be like Silly Forrest Gump?

Lewis raised his hand to adjust his glasses and retracted his gaze from Giles. It seemed that this Morgan boy was not lying~

He began to look at the boy David in front of him again.

Could it be that he also happened to come up with that new idea about mbs?

"David, can you introduce the da group company you just mentioned to me?"

"No problem! Da Group Company is..."

David briefly explained the company's affairs to Lewis.

"Giles and Pine are my partners and best friends."

"I had a phone call with Giles' father a few days ago, and we discussed setting up a new investment fund company."

"Didn't I just say that? Before I talked to old Morgan on the phone, I already wanted to talk to you."

"That's the way it is, Lewis, if you have any questions, just ask~"

amount. .

David's frankness made Lewis' face feel a little embarrassed~

He thinks he knows a lot of people!

But I have never met David like this. . .The person who tells everything when they first meet.

Pine and Giles, looking at Lewis's expression, listening to David's words, and feeling the familiar routine, couldn't help laughing and muttered in their mouths: "This damn bastard!"

Lewis raised his glass, and while he was drinking, he thought about it quickly in his mind.

"Sorry! David, if you have any problems with MBS, I will tell you everything!"

David crossed his legs: "Okay Lewis, then tell us about the development of MBS over the years~"

"Ok ~ MBS is the earliest asset securitization type. It was born in the mid-60s."

"MBS, that's mortgage-backed bonds or mortgage securitization."

"The MBS products we can encounter now are generally bond securitization, physical asset securitization, etc."

"Of course, there is another type of MBS, which is the mortgage-backed securities first issued by the National Mortgage Association (Fannie Mae) of the US government in 1970, with a portfolio of mortgage loans as the underlying assets - mortgage-backed securities!"

David shouted in his heart: Here comes the drama!

During the subprime mortgage crisis in 08, the largest secondary mortgage loan company in the United States was almost declared bankrupt.

If it really arrives at that time, it will be an unpredictable and terrifying disaster~!

During this period of time, David had not yet had time to understand in detail the current development status of Fannie Mae.

“Man, can you tell us more about this Fannie Mae?”

Lewis frowned deeper and deeper, and he felt certain in his heart: This boy David must have thought of that idea too!

He lowered his head and hesitated for a while, then slowly said: "Fannie Mae was founded in 1938."

"At that time, due to the lack of continuous supply of mortgage funds, millions of families in the United States were unable to own their own homes or were at risk of losing their homes. Therefore, the US government established the National Mortgage Association, referred to as Fannie Mae."

"The main purpose of establishing it is to increase the liquidity of mortgage funds, reduce the cost of home purchase, and ensure that mortgage banks and other lending institutions have sufficient funds to lend to home buyers at low interest rates."

"Fannie Mae's mission is to provide lenders with a steady flow of mortgage funding."

"Although Fannie Mae does not directly provide loans to home buyers, it does support home loan financing by purchasing mortgage contracts from lenders that lend to home buyers."

“Here, the home mortgage loan contract is a variant of derivatives of physical asset securitization.”

"Originally, Fannie Mae, as a government agency, was only authorized to purchase FHA-insured mortgages."

"When Fannie Mae became a private company in 1968, its rights expanded to purchase mortgages that were not insured by the Federal Housing Administration."

Having said this, Lewis stared at David with burning eyes: "You have thought of it too, right David?"

"what?"

David was listening intently, and was a little confused by Lewis's sudden rhetorical question.

Andy, an expert and transparent person, had some vague guesses about what was going on.

He looked at Lewis and David, with a smile on his lips.

This David seems to be causing big trouble~!

Lewis was not going to let David go. He asked: "You thought of it too! That idea we talked about during the meeting at the company in the afternoon!"

David hesitated for a moment: "You mean... securitizing mortgage loans?"

"fxxx! Damn! You really guessed it!"

amount. .

David scratched his head: "Man, this is what you said when you introduced Fannie Mae just now. I just said it following your introduction!"

"Nonono! Fannie Mae has been privatized and established for ten years. Almost most people on Wall Street know about its situation. Why can't they figure it out? You are the only one who has figured it out?"

"Lewis, a home mortgage loan contract is a variant of derivatives of physical asset securitization. This is what you just told me! Man~"

"Did I just say that? No! Absolutely not! I just..."

Giles looked at the two people from the side, and he was confused: "Guys, can you speak more clearly? Who can explain to me what are you arguing about?"

Pine's eyes stared at David, and he felt that what this kid said next would not be simple!

David waved his hand to Giles, then looked at Lewis, who was starting to get excited, and made a pressing gesture with his hands.

"Dude! Don't get excited!

Yes, I did think of the idea you wanted to say! "

"It's just because I thought about it that I wanted to consult you, a professional, for advice."

"It seems we have the same idea, Lewis!"

"Then let's stop playing charades, okay?"

"So, now, should you explain it to everyone, or should I?"

Lewis gritted his teeth, breathing heavily and said two words between his teeth: "You come!"

"Ok!"

David picked up his wine glass, took a sip, paused and then said: "Wall Street bankers are so idle right now that they don't know what to do."

"And people in the banking industry also spend all day wandering between accounts and statements."

“So I thought about Fannie Mae, and I thought about securitizing mortgage contracts.”

Giles still didn't understand what David said: "Just say it directly, bastard!"

David spread his hands innocently: "I said it! It's very direct! Securitize the housing mortgage contract!"

Lewis’s excitement and gnashing of teeth at this time were all fake.

In fact, he was quite nervous! ! ~

His heart began to beat faster, hoping that the word would not come out of David's mouth.

Pine looked at David: "You mean securitizing them, and then what?"

"Then?"

"Then gather them together and make a pool, and that's it!"

When Lewis heard the word pool, he was like a deflated rubber ball, completely soft in his chair.

Giles looked at Lewis and muttered: "Concentrate, pool!"

"You're talking about some mortgage contracts..."

David continued what Giles said: “Loans that meet certain conditions among some residential mortgage loans are gathered together to form a pool of mortgage loans.

Then, securities are issued using the regular cash inflows of principal and interest from the loan pool, and the securities are guaranteed by government agencies or government-backed financial institutions. "

"Plop!~"

As soon as David said these words, Lewis's little heart completely fell to the ground!

Lewis's mind was in a mess right now, and the last remaining trace of luck in his heart was wiped out by David.

This boy David really knows!

He really thought of it too!

damn it! !

fxxx! !