Malenko knows that the best way to defeat a high flying rookie speedster is to control his legs. Take away his speed which is the rookie's only advantage. Here Malenko has tied up Billy's legs, essentially grapevining them while pulling back on Billy's head. This rookie speedster is speeding nowhere. This is real wrestling, at which Malenko excels. Everything is going Malenko's way now.
Once again Malenko has the rookie suffering in a cross face lock with his legs grapevined to prevent his escape.
This young rookie looks really good suffering in this hold. He is under the veteran's complete control.
Malenko could probably get a submission from this hold if he applied it long enough with enough force, but he seems content to punish and dominate the young rookie. Perhaps he is enjoying it too much to end the match quickly.
Malenko continues to punish and play with his rookie.