My Age of Investment

The next day.

In the morning, Cuomo, dressed in a crisp suit, led a group of people into the 40 Wall Street building.

The Attorney General's face was cold, and he simply shook hands with Abel, who came to greet his group at the door, and said nothing else, with a business-like attitude.

The smile on Abel's face did not diminish at all, and he led Cuomo and his group into the company's conference room with a smile.

"Where's Mr. Xia?"

Cuomo raised his watch and glanced at the time. It was almost nine o'clock, but the other party hadn't shown up yet, which made him feel a little unhappy.

"Our boss usually comes to work late. Today he knew you were coming, Mr. Cuomo, and he has already rushed to the company in advance. He should be on the way by now."

After speaking, Abel called to the secretarial staff and gave each of Cuomo and other attachés from the Attorney General’s Office a cup of coffee.

In order not to be silent, Abel chatted enthusiastically with Cuomo and others while drinking coffee.

Although Cuomo felt unhappy, he couldn't act rashly.

At 8:59, Xia Jingxing arrived at the conference room against time.

"Sorry! I kept Mr. Cuomo and everyone waiting for so long. There is some traffic jam on the road."

As soon as he entered the room, Xia Jingxing smiled and shook hands with Cuomo.

Cuomo said calmly: "Mr. Xia, the time is just right, let's talk about business!"

Seeing that Cuomo had even skipped greetings, Xia Jingxing also put away his smile and sat down seriously.

Europe and the United States follow the law of the jungle. Now that Cuomo has targeted him, there is no need for him to play the middle-of-the-road approach.

Asking Abel to greet the other party while he arrived slowly himself was to express a clear attitude to Cuomo.

Trying to keep things quiet and stay humble is useless and will only be viewed as a soft persimmon.

Since Cuomo wants to gain political resources from him, let's give it a try.

Cuomo sat directly opposite Xia Jingxing with a serious face. He looked at Xia Jingxing, who had the same black hair as him, and asked: "Mr. Xia, we came to Vision Capital this time for a routine investigation. We will ask you questions later You just have to answer a few of your questions."

Xia Jingxing smiled and said, "As long as the issue does not involve core business secrets, I will fully cooperate. After all, I am also an honorary citizen of New York City."

The corner of Cuomo's mouth twitched, knowing that he had encountered a Wall Street gangster.

He originally thought that Xia Jingxing, who had only been on Wall Street for a few years, would not be as difficult to deal with as other old people who had been there for decades.

It seems that his judgment was wrong. The other party can gain a foothold on Wall Street at a young age, so he is naturally not an ordinary person.

But after you have come, you cannot return without success. At the very least, you must weigh the opponent's weight.

"Mr. Xia, as far as I know, Vision Capital made more than $5 billion in profits last year by shorting subprime mortgage derivatives, right?"

Like an old hunter, Cuomo began to skillfully lay the trap.

However, Xia Jingxing could not let the other party lead him by the nose. He smiled and spread his hands, "That was made up by Alpha Magazine. I protested many times, but they still refused to modify the rankings and profit figures."

"Then what should the real profit be?"

Looking at Cuomo, Xia Jingxing smiled brightly, "This involves LP's personal privacy, we cannot violate company regulations.

If legal provisions require interpretation, we can provide specific statements.

But if there are no corresponding regulations or procedures, we don’t dare to speak out randomly, otherwise we will be sued and abandoned by LP.

Mr. Cuomo, can you understand my difficulty? "

Cuomo was successfully amused by Xia Jingxing's pretentiousness. Of course, his smile was very weird and professional.

"Okay, let me ask another question, have you participated in short selling this year?"

When Xia Jingxing nodded slightly, Cuomo looked happy, but what he said next made him disgusted.

"Does Hong Kong Island count?"

Cuomo said with a dark face: "We are a judicial institution in the United States, so naturally we are asking about the American market."

Xia Jingxing nodded slightly and then smiled, "Mr. Cuomo, I'm sorry, I thought you were asking about the global market.

Vision Capital is a global multinational alternative asset management company. We have offices in New York, San Francisco, London, Hong Kong, Beijing, Shanghai, Singapore and other cities.

Our funds are globally mobile and we are also targeting global financial market opportunities..."

Cuomo interrupted Xia Jingxing's tirade angrily, "Mr. Xia, you just need to answer me whether you have shorted the US financial market."

Xia Jingxing smiled and said, "Mr. Cuomo, according to the Securities Investment Act, the SEC has no legal basis to require hedge funds to disclose investment information, right?"

Cuomo was scolded and his expression became even uglier, but they did have no legal basis to require Vision Capital to disclose position information or investment information in the past few years.

The U.S. Securities Investment Act has been repeatedly revised, bringing banks and investment banks under strict supervision, but hedge funds and family offices have slipped through the net.

If there is no case filed or legal action against Vision Capital, let alone them, even the SEC, the client, is not qualified to do so.

This is the United States, and everything must be done according to royal laws and correct procedures.

"Mr. Xia, this financial crisis was caused by your hedge funds. Do you think you can still escape supervision in the future?"

Cuomo said coldly: "Now the SEC has required hedge funds with assets under management of more than $100 million to disclose short positions!

Next, there will be a new regulatory plan, and the scope of disclosure will no longer be just short positions, but all investment portfolios! "

Xia Jingxing said nothing. In fact, Cuomo was right. There will be fewer and fewer opportunities to fish in troubled waters in the future.

However, there are policies from above and countermeasures from below.

Financial innovations on Wall Street are endless and cannot be controlled.

Perhaps only when the empire declines and financial hegemony is gone will we truly be honest.

Xia Jingxing pushed back without hesitation, "Mr. Cuomo, you said it was a matter of the future. Let's be realistic and live in the present."

Cuomo glanced at the entourage around him and found that everyone was looking at him.

He also realized that he was being taken advantage of. How could his majestic New York State Attorney General, the nemesis of Wall Street giants, be afraid of these capital giants.

Thinking of this, he immediately stopped suppressing his already overwhelming anger and yelled: "Mr. Xia, this crisis has caused huge damage to the U.S. economy, and the losses are measured in trillions of dollars.

What we want to uncover now are the criminals who are really harming the U.S. economy. We will not unjustly accuse financial practitioners who are responsible for running companies.

If you don't cooperate or even resist our work, then we will have to spend more time with you.

If you cooperate with our work, we will go to the next one after the investigation. "

Xia Jingxing nodded slightly, "Mr. Cuomo, what you said is very good. I also support New York State in uncovering those criminals and restoring Wall Street's good business environment in the past."

Seeing Xia Jingxing's unrepentant look, Cuomo completely gave up the idea of ​​going soft.

"Mr. Xia, behind the crises of Bear Stearns, Freddie Mac, Fannie Mae, and Lehman Brothers, there were a large number of hedge funds making trouble.

No matter how hidden it is, it will leave some traces. "

Cuomo stared at Xia Jingxing, "And these traces are evidence of crime. If they are dug out, it will no longer be as simple as cooperating with the investigation. All illegal gains will be confiscated, and the former financial tycoons will be reduced to subordinates." prisoner."

Xia Jingxing and Cuomo looked at each other for a few seconds, then smiled and said, "I am an honest businessman and I don't need Mr. Cuomo to educate me on the law."

Cuomo also laughed, "I hope so! Well, that's the end of today's investigation!"

After speaking, Cuomo began to stand up and leave the table, and his entourage followed suit.

When he walked to the door, Cuomo suddenly turned around and looked at Xia Jingxing, pointing to the coffee on the table with a smile on his face, "This coffee tastes good. When I come back in a while, I hope it will still taste as delicious as today."

Xia Jingxing smiled and said, "Mr. Cuomo, don't worry, the taste will not change!"

Cuomo's eyes turned cold, turned around and left with the people.

Xia Jingxing didn't get up, and Abel didn't bother to send these people off. They had already broken up with each other anyway, so there was no need to let them have any more illusions.

The others left the meeting one by one and closed the door. Xia Jingxing and Abel were the only two people left in the conference room.

"Dylan, Cuomo will definitely not give up. Next, we must pay more attention to avoid being bitten by this mad dog."

Xia Jingxing smiled lightly, "Just wear it out slowly, who is afraid of whom?"

Abel nodded lightly. It was not uncommon for Wall Street giants to be targeted by the New York State Attorney General's Office.

Judging from past results, there is basically no possibility of compromise.

Either you can’t find anything and just give up, or you may be attracted by bigger fish;

Either you find some evidence and start a lawsuit, settle out of court, or one party loses the lawsuit.

Showing weakness, trying to please, and cooperating will only be regarded as a guilty conscience.

And Blankfein's prescription for Xia Jingxing was to be tough to the end, to be strict if he resisted, and to go home for the New Year.

Even if all short-selling activities of Envision Capital are legal and compliant, if a hole is opened at this stage and leaked, it will become a scapegoat for everyone.

The total global short position is 75 billion US dollars, which is equivalent to approximately 600 billion Hong Kong dollars. It is an extraordinary punishment!