Group 1 - The establishment of fund subsidiaries was initially profitable due to fewer capital constraints, allowing them to assist banks and trusts in issuing loans, leading to a period of easy earnings referred to as "lying win" [2][4] - The financial industry has seen a decline in the viability of fund subsidiaries as regulations have tightened, particularly with restrictions on non-standard financing, making it difficult for these subsidiaries to operate [5][6] - Many professionals in the industry have shifted back to secondary markets as a result of the challenges faced by fund subsidiaries, although the secondary market is also not as lucrative as it once was, with increasing defaults impacting profitability [6][8] Group 2 - Fund subsidiaries are recognized as a product of a specific period in the financial industry, and as that period has ended, the responsibilities and consequences for their operations have not been fully addressed [8] - The motivations for investing in stocks are questioned, with a suggestion that investors often seek external rescue when they incur losses, highlighting a lack of accountability in the investment process [8]