After eting with Ha Myeonghun, I spent my ti busily moving from one matter to another.
“Manager Ma. Tell the loan sharks connected to us to start collecting their debts. Tighten the money flow for the ti being.”
“Yes. I’ll handle it.”
“You need to et them personally. Don’t send soone else. And the private lending market too.”
Manager Ma nodded and asked:
“Understood. What about today’s schedule?”
“Other than going to the Blue House, there’s nothing else today. That can be handled even without you there, so take care of this first. Even one year won’t be enough ti to pull money back from the loan companies and the private lending market. Recover as much as possible, but don’t squeeze them too aggressively.”
“Yes. I’ll pass it along.”
Just as Manager Ma turned to carry out my orders, Eva walked in.
The two exchanged brief greetings as they passed each other.
Eva quickly approached with a bright smile.
“Boss!”
“You’re here? Sit down first.”
For so reason, Eva couldn’t stop smiling today.
“Sothing good happen? You seem especially happy today.”
Instead of answering, Eva pulled a laptop out of her bag.
After typing for a mont, she turned the screen toward .
I pulled the laptop closer and began checking the emails.
“Are they all trustworthy?”
“Yeah. Plus, every single one of them has weaknesses we can hold over them, so betrayal won’t co easy.”
“And the trail leading back to ?”
“None at all. Well, if soone dug deep enough, they might eventually reach . But I twisted things enough that it’d take a deliberate investigation.”
As expected of Eva. She handled things thoroughly.
I nodded while reading through the emails.
As I carefully reviewed the ssages coming in from different places, the current situation beca crystal clear.
“You understand now why I’m smiling, Boss?”
Once I finished reading, I could guess why Eva was in such a good mood.
I t her eyes and smirked.
“Every single one of them thinks they found an easy mark.”
That was exactly it.
Whenever Michael Burry signed a new contract, the investnt firms Eva had set up would take turns approaching those sa institutions.
The banks, securities firms, and insurance companies that had already signed contracts with Michael Burry beca blinded by commissions and eagerly signed contracts with them too.
“By the way, Boss, where did you even find Michael Burry? That guy’s the real deal. The products he designed are going to make us an absurd amount of money. I still don’t understand how he structured them like that...”
Before then, products that bet against mortgage loan stability simply didn’t exist.
Michael Burry had been the first person to go around investnt banks and insurance companies asking them to create such products.
Signing a CDS contract worth one hundred million dollars didn’t an you paid the full hundred million upfront.
Even the monthly premium paynts alone for a one hundred million dollar contract were astronomical.
All we had to do was follow through the banks Michael Burry had already opened the doors ◆ Nоvеlіgһt ◆ (Only on Nоvеlіgһt) to and sign contracts ourselves.
“They don’t even realize it’s a poisoned chalice. They’re the ones begging for more contracts. They probably think they found suckers they can skin alive. Normally, I’d try to stop them.”
At my words, Eva let out a dark smile. But her eyes weren’t smiling at all.
“Our proxies aren’t famous nas on Wall Street, so that’s probably why. They’re supposed to explain the risks when selling these products, but they’re not even ntioning them.”
There was clear condemnation in Eva’s voice.
Whenever Michael Burry visited investnt banks asking for these products, the banks at least tried to persuade him for legal protection.
They told him there had never been a collapse in the Arican mortgage market in U.S. history and urged him to think carefully.
Internally, they may have been cheering, but at least they said the right things.
But they didn’t say a single word like that to the proxies Eva sent.
“Boss. We ended up signing way more contracts than you originally planned. Is that really okay?”
At Eva’s worried question, I closed the laptop and answered:
“It’s fine.”
If a single investnt company signed that many contracts, the Arican governnt might later step in and apply pressure once problems erged.
They might demand paynt deferrals or sothing similar.
But through Eva, I was dispersing the contracts across dozens of corporations.
Eva’s smile disappeared as she spoke seriously.
“Just the CDS contracts we already signed are costing us tens of millions of dollars every month in premiums. And that amount’s only going to grow over ti.”
“If the fees are that massive, it just ans the money we’ll collect later will be even bigger. Keep going as long as they’re willing to sell us contracts.”
“Got it, Boss. But this really is going to collapse, right?”
A trace of unease flickered in Eva’s eyes. It seed she still couldn’t completely believe my words.
“The only reason I’m doing this is because it’s you saying it, Boss. If anyone else had said sothing like this, I would’ve laughed in their face.”
“Exactly. That’s why I’m pushing this hard. The money we’re throwing out as bait alone is already one billion dollars.”
Eva let out a quiet sigh.
“Well then. There goes the Dreamhigh success myth.”
“A success myth is nothing more than an illusion. And with ti, you’ll realize those losses are nothing.”
I began discussing China with Eva.
“By the way, how’s the atmosphere in China?”
“What’s there to say? It’s booming.”
“This Arican financial crisis is going to beco a huge opportunity for China. They’ll wobble together with everyone else at first, but the Chinese governnt will aggressively push real estate policies — the exact opposite of Arica.”
“So you’re telling us to prepare too, Boss?”
“Yeah. You’re almost done reorganizing things, right?”
“I think we’ll recover most of the investnt funds by the end of this year.”
“That’s enough. Keep watching China closely.”
While adjusting detailed schedules on her PDA, Eva suddenly asked:
“By the way, Boss, did you hear how the Eurasian Railway project is progressing?”
“The Eurasian Railway? Ah, leave that alone. That’s for the Chinese and Russian governnts to sort out themselves.”
It still wasn’t ti for to step in.
Unlike my indifferent reaction, Eva sounded fairly serious.
“Hu Jintao’s being more aggressive than expected when it cos to persuading other governnts.”
“Really? I’d heard bits and pieces, but enough for you to put it that way?”
“I heard China’s pressuring its companies to invest in Southeast Asia. Supposedly as gifts to persuade those countries.”
“Really?”
Well, that worked out better for .
It ant President Hu Jintao was genuinely committed.
After thinking for a mont, I said:
“For now, just watch. Don’t interfere. This’ll naturally resolve itself later. Besides, we still don’t know how the Arican governnt will react.”
“Okay, Boss. Oh, and you know the iPhone launched in Hong Kong, right?”
So it finally launched.
I pulled one corner of my mouth upward in a grin.
“I heard the response is good?”
“Good? It’s insane.”
The iPhone released in Hong Kong, Macau, and Japan was causing a sensation.
Apparently supply shortages had already created a resale market with massive markups.
“China launch is next month, right?”
“Yeah. That’s what I heard.”
“Are you attending?”
“I got an invitation. Are you thinking about going too, Boss?”
“Who knows.”
“You’ll probably get one too. The Chinese governnt invited , so maybe Apple plans to contact you directly. It’d be nice if you ca.”
“Well, if I have ti.”
After speaking, I glanced at my watch.
When did it get so late already?
“For now, head back and keep monitoring the situation. Let know if anything unusual happens.”
“Okay, Boss.”
After sending Eva away, I almost called for Manager Ma before stopping myself.
I rembered he had left to carry out my instructions.
When soone who was always beside you suddenly wasn’t there, the emptiness really stood out.
After thinking briefly, I called another employee and ordered them to prepare for my visit to the Blue House.
Even after giving the instructions, there was no ti to rest. Until preparations were complete, I continued finishing my work.
The President welcod warmly.
We exchanged the usual pleasantries about how long it had been.
“So, I heard you handled sothing important in xico?”
“Yes. Things happened, and my stay ended up lasting longer than expected.”
“I heard the rough outline. You unified the xican criminal organizations?”
“Yes. I structured them similarly to Korea.”
When I answered calmly, Yoon Changho clicked his tongue in amazent.
“Incredible. To unite the very people the Arican governnt desperately wanted eradicated.”
“It was possible because I acted as an individual, not a governnt. I didn’t have to worry about appearances.”
“Still, involvent with the drug trade can’t be good for you either, can it?”
“It was arranged with the Arican governnt, so there shouldn’t be any problems. And my role ended once the unification was complete. I won’t be involved with that side anymore.”
“That’s good then.”
Yoon Changho smiled in relief.
He joked that growing older had made him much more fearful lately.
“So, what brings you here today? Every ti you visit, I get nervous wondering what you’re going to say.”
I explained the general state of the Arican economy.
By the ti I finished, a groan escaped Yoon Changho’s lips.
“So Korea should prepare in advance as well.”
“This isn’t really sothing I can publicly speak about.”
“I know. But economic policy should be designed with the possibility of this happening in mind. It won’t beco another IMF crisis, but if the Arican economy stumbles, Korea’s economy will inevitably stumble too.”
“That’s true, but...”
Concern and worry lingered heavily in Yoon Changho’s voice.
“For now, avoid real estate stimulus policies and announce conservative asures instead. That way, if problems arise later, you’ll at least have room to defend yourselves.”
Yoon Changho nodded.
“I’ll have an in-depth discussion with the Deputy Pri Minister for the Economy. But are you certain Arican real estate will collapse?”
“Yes. I’m certain.”
“If you’re this certain, then I suppose it truly will happen.”
Yoon Changho narrowed his eyes.
For a mont, I noticed how exhausted his shadowed face looked compared to before.
“President Kim. I’m already heading into the latter half of my term.”
“Yes. I know.”
“The reason I still have the people’s support is because of the economic boom that followed the IMF crisis.”
“That’s true. You can’t deny it. What matters most to ordinary people is making a living.”
As I nodded, Yoon Changho spoke bitterly.
“If the Arican financial crisis affects us too, I don’t know what’ll happen in the next presidential election.”
“That’s exactly why I’m telling you to prepare in advance. We can’t completely stop the damage, but we can reduce it. Isn’t there a saying that crisis is opportunity?”
“I don’t even know how to persuade the economic bureaucrats. Do you think they’ll believe if I repeat what you just said?”
“Invite Chairman Ha Myeonghun of Taesan Financial to the policy etings.”
Yoon Changho’s eyes widened.
“Chairman Ha?”
“Yes. He’ll lend weight to your opinion.”
“That’s a good idea.”
“And invite the chairn of other financial holding companies too. Listen to their opinions.”
“But the conclusion will end up exactly as you said, won’t it?”
“You don’t necessarily have to follow my advice. I’m only offering suggestions. I simply want your ending as President to be a beautiful one.”
“I understand. I’ll rember it deeply.”
That was all the advice I could give.
Now all I could do was hope Yoon Changho made wise decisions.
After letting out a long sigh, Yoon Changho changed the subject.
“President Kim. You know there’s a local election this year, right?”
“Yes. I know.”
“And that the internal party situation is complicated?”
“...To so extent.”
“Then why aren’t you doing anything?”
While I was in xico, the dostic political situation had changed significantly.
Myeongsoo had completely taken control of the Centrist Party.
Although they hadn’t formally rged with the opposition party fighting outside the system, they had agreed to cooperate in this election.
An overwhelming victory for the Centrist Party was expected in the April elections.
“Lee Myeongsoo, the floor leader, and Secretary-General Jang Seokhyeon are fiercely struggling over control of the nomination committee chairmanship.”
“I heard about that too.”
“Then why are you staying silent?”
“I plan to leave this election to Myeongsoo. What good cos from constantly interfering?”
Though I answered firmly, Yoon Changho’s expression remained grave.
“President Kim. Representative Lee was only able to seize control of the party at such a young age because you stood behind him. The weaknesses you handed him regarding those lawmakers helped too. But this ti is different. Not only the existing lawmakers, but many new people are entering.”
“I know exactly what you an. But this ti, I don’t intend to interfere.”
Yoon Changho asked as though he truly couldn’t understand.
“Why?”
“Because I want to see Myeongsoo's ability. Myeongsoo isn’t my puppet. Mr. President, I want to see Lee Myeongsoo as a mber of the National Assembly in his own right.”
With this election, I wanted my na to disappear from behind Lee Myeongsoo.
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