Time flew past 1980 and entered 1981. The first half of the new year was calm for Duqi. He spent most of his time at Stanford University, but he would pay attention to the development of Shengshi Bank when needed and give some instructions.

Last year, the 100 million US dollars spent almost all through mergers and acquisitions and expansion, but it has also successfully expanded Shengshi Bank's outlets to the eleven western states of the United States. Of course, there are more outlets in each state, such as California, and more outlets, and more outlets, and more outlets, and fewer outlets, and more than ten outlets. Now Shengshi Bank has become a well-known bank in the western United States.

Through the cooperation model between banks and money funds, Shengshi Bank has attracted a large number of ordinary customers. As the scale of the bank expands, some wealthy people with assets of millions or even tens of millions have also seen the strength of Shengshi Bank. Most of them are on the wait-and-see attitude, and a few have put some funds on Shengshi Bank. They don’t like money funds like Yu'ebao, and they are fond of some funds with higher returns.

Shengshi Bank and Shengshi Money Fund are one in Duqi's view. In the final statistics in June 1981, the money fund now manages more than one billion US dollars, and the management fee of Shengshi Money Fund exceeds 10 million US dollars every year. Most of these will become the bank's net profit. This is not the traditional income of the bank. With these profit support, Shengshi Bank now stops to expand and conducts internal rectification and adjustments, and has enough confidence.

Rapid expansion will inevitably bring a lot of problems, so Duqi directly agreed with Su Ze's idea of ​​temporarily stopping the expansion of outlets and making internal adjustments to the system and personnel. Another important point is that there is a lack of sufficient funds for continued expansion. Duqi is not a person who likes to play with risks, and has always left enough funds for banks to deal with them.

However, the reform of the bank management system, the expansion of outlets, and personnel adjustment and assessment are one thing, and the expansion of banking business is also essential. In June, Duqi found another money-making idea for Su Ze.

Since the end of the 1980 election and President Reagan came to power, it has become inevitable that the relaxation of financial controls has been caused by indirectly causing a large number of people to invest in the banking industry, and at the same time it has also contributed to the merger and acquisition frenzy of the banking industry itself. At this time, whether it is developing or retreating, so while internal reforms, Duqi must ensure that Shengshi Bank's business continues to expand, expand so many outlets and develop so many customers. Now a wealthy customer has begun to choose Shengshi Bank. This is a good sign. Now it is time to start tapping its business potential, so Duqi is ready to let banks start entering the securities industry.

"The risk of junk bonds is relatively high, and I don't think it is suitable for Shengshi Bank to maintain stability." When he heard that Duqi said his first idea, Su Ze directly denied that he was a steady or conservative manager.

Therefore, when Duqi proposed the idea of ​​combining money funds with banks, this safe fund investment method was the first to think that this was a genius method. He spared no effort to promote it in the past year, which also made Shengshi Money Fund develop extremely rapidly.

However, Su Ze instinctively chose to refuse high-risk things like junk bonds.

Of course, Duqi was not too angry, and proposed junk bonds purely because he saw the current junk bond king Milken making a lot of money, and he was a little moved. However, now junk bonds have been monopolized by Milken. If Shengshi Bank participates, it can only choose to cooperate with the other party.

According to Milken's personality, it is very likely that Shengshi Bank will put the most effort and take the biggest risk, but can only get a little bit of soup. So after Su Ze refused, Duqi did not continue to mention it.

Duqi proposed junk bonds to bring up the next topic: "If so, I have a more acceptable money-making idea than junk bonds. The returns may not be as good as junk bonds, but the prospects are broad and they are safe."

"Oh?" Su Ze suddenly became interested: "What are you talking about?"

? "Money loan." Du Qi smiled slightly.

"Money loan?" Su Ze was a little disappointed after hearing this. After all, mortgage loans are now just a normal business of the bank, and it is not surprising: "Asset securitization has begun in 70 years, so mortgage loans are naturally OK. Mortgage bonds should be sold, but the profits will not be too much. They can only be luxury houses. Although there are many luxury houses with good credit, they cannot do a few businesses."

Of course, his next words made Su Ze understand Duqi's idea, and if anyone who came to the 21st century later heard Duqi's next words, he would be shocked: "It is not about promoting bonds for a single mortgage. We can put several mortgages together and package them into a kind of securities promotion."

Duqi smiled and said, "The profit of a mortgage is indeed very small, but many mortgages are gathered together, and that's a lot, and no one will not repay the mortgage, right?"

Then, without waiting for Su Ze to speak, Duqi continued: "I have heard of some high-end restaurants playing a trick. Those high-end ingredients cannot be sold in one day. For example, Greenland cod. If it is put on the next day, it will definitely not be new, and even if the price is reduced, it may not be sold.

So the chefs thought of a solution, they mixed a few fresh cod with most not-so-fresh cod and cooked a pot of soup. So when the guests arrived, the cod soup they ordered was fresh."

"You mean..." Su Ze began to gradually understand Du Qi's words, and then heard Du Qi say: "Of course, this is just a small means, and there are only so many mortgages. Even if you add a bad mortgage, you will have a day of completion. But we can still package the mortgage securities again at the appropriate time, make new products, and sell them to other investors. After these securities are completed, we can continue to concentrate and package them and continue to sell them to new investors."

In his previous life, Duqi was deeply impressed by the subprime mortgage crisis, so he naturally understood the root cause of it. At this time, he also said some of the comments he saw: "It's like a gambler playing cards at the table at 10 o'clock. He can win every time, so the onlooker began to bet with another person, betting that the gambler sitting would definitely win. Then the person next to him saw it, and also betting with the people around him, betting that the gambler sitting would definitely win..."

At this time, Su Ze also took over the topic: "Then the remaining people continue to bet on the previous person who can win, joining round by round until everyone present is over. As long as the gambler sitting keeps winning, they will continue to win..."
Chapter completed!