Chapter 2222 Opening up Channels

When these young people heard that they could earn hundreds of thousands or even millions of dollars for this job, they were so happy!

They didn't even ask what the consequences were, they only cared about when to transfer the money.

Chen Mo pretended to be a passerby and asked a young man: "Aren't you afraid of being cheated?"

Young man: "What's there to be afraid of? Anyway, I have nothing. I get food and accommodation here, and I get money to spend. I don't have much to lose?"

Chen Mo: "What if the bank thinks you are a fraud and wants to take back your money?"

The young people all laughed: "When the bank finds out, I promise that the money has been spent. If they can get the money from me, it only shows that I am incompetent!"

Chen Mo: "You have to spend all the money as soon as you get it, so what will happen in the future?"

Young man: "In the future? Why care about the future? The most important thing is to live in the present! If you are happy today, don't worry about the troubles tomorrow, the day after tomorrow, and the day after tomorrow, understand?"

Chen Mo understood immediately.

It turns out that ordinary young people in the hegemonic country not only have a high illiteracy rate, but are also accustomed to "living in the present" and "hedonism".

The consumption concept of Baguo people is very different from that of Daxia people. They are used to spending tomorrow's money to do today's things and rarely save money. Many companies also pay salaries once a week.

Many young people don't even buy medical insurance because they think it's too expensive.

This also leads to many people not getting sick, but once they get sick, even if it's just a small disease like appendicitis or cholecystitis, they can return to poverty overnight and go bankrupt and become homeless.

In Baguo, having your credit blacklisted is much more serious than in Daxia.

In Daxia, if you don't pay back your loan, your credit will be blacklisted, which means you can't take airplanes, high-speed trains and other means of transportation, nor can you buy luxury seats or private cars. In addition, their children may not be able to enter key schools for education.

And you can't get a loan anymore.

Other than that, there's nothing wrong, and life is the same as usual.

But in Baguo, it's serious!

As we all know, Baguo is a country based on credit. Once your credit is blacklisted, you can't find a job, rent a house, stay in a hotel, and even the medical insurance you paid before can be cancelled!

If food, drink and shelter are affected, people can still bear it, but if even seeing a doctor is affected, then ordinary people will definitely not be able to bear it.

This is also why many people in Baguo would rather continue to pay student loans with interest rates of more than 6% in their 40s and 50s than default.

Once defaulted, it could really be fatal!

Of course, if Chen Mo wants to accomplish this, he can't do it alone.

He contacted the local bosses in various states of Baguo and shared with these big guys that he was going to train a large number of professional debtors.

And explained the profit margins and risks in detail.

Although these local bosses are big and strong, when they heard the profits mentioned by Chen Mo, their eyes sparkled!

"Bro, this is a really good business!"

"Yeah, the risk is so small, even if you get caught, you won't lose your head. At most, you'll be locked up for a few days. Isn't that equal to no risk?"

"Oh! My-God! Is the profit from this business so terrifying? It's more profitable than what I sell!"

"Do it, you must do it! If you don't do such a good business, you're a fool!"

"..."

Chen Mo chuckled and nodded.

How many people can he deal with if he runs an agency alone?

Only by uniting all the forces that can be united can we accomplish great things!

Chen Mo not only found local tyrants, but also spent a huge amount of money to buy off the middle-level employees in the top banks in various states of the Hegemony.

When these employees heard that it was related to mortgages and the kickbacks were so high, they immediately agreed.

For this matter, there are already very few people who borrow mortgages, and these people are worried that they can't lend out the floating rate loans in their hands!

This is good, Chen Mo's business just helped them a lot!

Anyway, now even a dog can get a loan, and there are so many subprime loans, who would mind whether the subprime loans in hand double or not?

Chen Mo has opened up all three parties: banks, intermediaries, and channels.

Now all that is left is to find a large number of professional debtors in Baguo and to package them.

If it is in Daxia, it will take at least three months to package professional debtors.

The process is roughly to find the target first. The primary target group of "debtors" is small city residents aged 25-45, with low education and unsophisticated. They select those who have no credit problems and are willing to cooperate, and provide 200,000 living expenses and accommodation within three months.

Then, within three months, a series of packages are given to the "debtors", such as transferring a house, setting up a company or giving a car, and paying social security and provident fund for them for a period of time.

Then, this is considered as the packaging is completed, and you can start to wander between banks and loan companies.

Those in this business will use transferred houses to obtain renovation loans, obtain commercial loans in the name of the company, use cars for mortgage loans, and also report all available loan channels such as credit loans, micro loans, and bank cards. On average, each "debtor" can borrow about 1.5 million yuan.

The intermediary will let the "debtor" take out a loan, transfer the money, and then disappear without a trace. The debtor only needs to sign and he can easily get 200,000. However, three months later, the money cannot be repaid. These debtors will become dishonest people, blacklisted by the bank, and their assets will be seized and frozen. Once there is money in the account, it will be used to repay the loan first.

Of course, that was in Daxia.

In Baguo, especially in early 2008, when mortgages and various loans were particularly loose, it didn't take three months at all.

Chen Mo estimated that half a month to one month would be more than enough.

And after Chen Mo's research in the past few days, the target of the search does not have to be 25-45 years old, low-educated, and unworldly small city residents.

Many hedonistic young people and low-level Baguo people are also very suitable to be professional debtors.

As for what will happen to these Baguo people after they lose their credibility...

It's none of Chen Mo's business?

Anyway, if Chen Mo doesn't use these Baguo people now, they will not be able to escape after the subprime mortgage crisis comes.

The economy of Baguo is still pretty good now. Even if you go bankrupt and become a homeless person, you can still get a lot of free meals.

Chen Mo just prepaid these people's credit and credit in advance, adding to the subprime mortgage crisis.

"Besides, when I open a shell real estate company in Baguo, I can unite local tyrants from all over the country, get some worthless real estate, and then use professional debtors to fleece Baguo Bank!"

Chen Mo's mouth curled up slightly, and he lay comfortably on the sofa.