Mark sat in the driver's seat, annoyed as he listened to the phone hang up. Fine, if they wouldn't give it to him, he had at least a twenty-pound voucher. He fastened his seatbelt and sat still in the car, feeling increasingly frustrated. He earned so little money at work every day and still got scolded. Compared to Jiafeng, the difference was too great.
At least here no one criticizes me; everywhere I look there are praises and affirmations. Even successful people like Lu Feng say that I have unlimited potential and just need an opportunity.
To these people, Lu Feng was like a scumbag, constantly telling them that they were great and that it was the bosses who were too bad and didn't see their good qualities. Those who were unemployed thought he was right, while those who were employed went back and saw their own bosses' behavior and felt that Lu Feng was even better.
Siemens, Beko, and Hale have completely stopped paying much attention to Jiafeng. Japan and the United States, apart from keeping a close eye on Jiafeng's R&D company, have not paid much attention to Lufeng, which is located in Europe.
The R&D company has completely shut down its talent center in the United States, resulting in significant losses. However, it has launched laboratory collaborations globally. As long as you have enough money, there will always be people willing to do the work for you. Some people don't care about enemies or friends.
Especially with the addition of several shrewd and capable young men from the marketing department to the R&D company, and some important figures having a blast in Thailand!
Divides have also begun to emerge within Goldman Sachs. Some executives believe it's unnecessary to focus on Jiafeng Electronics, a global financial group, and to be led by the nose by a small company. They argue that it's overestimating Lu Feng by having a bigwig like Lambert instead of looking for value companies to invest in globally.
The two sides fought fiercely at several high-level internal meetings. After all, it was inappropriate for such a large company to keep an eye on Jiafeng. Lambert could only focus on his own business. Jiafeng, which was originally a hot topic of discussion, had become a trivial matter that no one cared about in just one month.
There was a knock on the office door, and Eisen walked in, holding a survey form about Samsung. He placed it on the table and said, "There are also two documents about Jiafeng Electronics. Do you want me to bring them over?"
Lambert waved his hand, looking somewhat helpless, and said, "There are already disagreements within the company. If Jiafeng can't take another big step forward, this matter will probably come to an end."
Eisen took a deep breath and said, "I think this is about the best he can do. Five years to achieve this much, he should be proud enough. Our current information indicates that his progress in Europe is not going smoothly, after all, Europe is not China."
"I hope so, but I feel that when he reappears on the international stage, it will be earth-shattering!" Lambert was very confident in Lu Feng's abilities.
The World Trade Organization was formally established in 1995, and the European Union included several Swiss countries. The world moved rapidly towards integration, and international trade entered a peak period. For companies like Goldman Sachs, this was where they could make big money.
The global landscape has undergone tremendous changes. It can be said that some international events of this year have laid the foundation for the international order for the next few decades. At this moment, Lu Feng is still busy organizing his conference with several hundred people.
John introduced Lu Feng to the CEO of Schroders' financial group, who presented him with a loan agreement. They were unwilling to take any risks, but were happy to act as a middleman.
They contacted a local small bank, the main issuer of the loan, while Schroders Financial Group acted as the guarantor, doing insurance business. After the money passed through their hands, they would charge a 1% fee. Then, these insurance products were packaged into wealth management packages, mixed with stable wealth management products, and sold through the bank.
Jiafeng Group was the second responsible party for the subprime mortgages. Although Jiafeng was the one that ultimately issued the loans, the primary responsibility did not lie with Jiafeng.
You can think of it simply as finding a small bank to lend money, Schroders insuring the loan and charging a fee. For example, if the annual interest rate of the loan is 5%, they take 1%, and of the remaining 4%, 2% goes to the bank, and the 2% return is packaged into a wealth management product.
These financial products are comprehensive, combining government bonds, corporate bonds, and private bonds.
Jiafeng Group does not enjoy any profits; it is the company that issues loans to the end users. If these loans default on a large scale, Jiafeng can stand up and say that it is just a signatory and has nothing to do with it. Schroder will say that it is an insurance company and is only responsible to the bank!
As the debt collector, the bank will pursue Schroder for the debt. The wealth management products that Schroder packaged and sold will be deemed to have suffered losses. Although the buyers of the wealth management products will not bear all the losses, the risk involved is diluted to a very small extent.
Moreover, it contains a lot of liability-free clauses and legal risk-avoidance clauses, so they are absolutely guaranteed to make that one percent commission.
In the VIP reception room of Schroder Financial Group, Lu Feng looked at the three-finger-thick contract in front of him, glanced at John beside him, and said, "This is such a thick document, I'm afraid even if I hire a legal team, it might not be enough to finish reading it in a few days."
“There’s no need to look at these. They’re just sample contracts and explanations. You can trust that,” John said to Lu Feng.
"When can the loan be disbursed?" Lu Feng asked.
"The contract was signed quickly. If we expedite the process and the bank cooperates, it can be done tomorrow!"
"Okay, I'll have a lawyer take a look. If there are no problems, we'll sign it today."
Lu Feng wasn't stupid. Being abroad, he had to be careful about the legal provisions. If they said they were not liable, then they weren't liable. This was a big deal, and he couldn't treat it lightly.
A local law firm was temporarily brought in to review the contract. They worked until after 4 p.m. After confirming that there were no problems, Lu Feng signed the contract and officially obtained the qualification to act as an agent for issuing loans. Lu Feng also gave this loan a nice name: 'Turning Point Loan'.
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