American Fortune Life

$10 billion!

The hand touching his chin couldn't help but hesitate slightly, and Andy's half-closed eyes sparkled brightly, and he looked at the chief consultant of the think tank who was still calm, and he couldn't help hesitating.

"Ahem, let's put this matter aside for now, let's finish the acquisition of IndyMac Federal Bank first..."

Even if Andy covets this part of the funds, he won't give a definite answer at the moment. This kind of thing is a bit degrading, but fortunately, he doesn't need to do it himself, but it will also attract some infamy.

Because the agreement with the FDIC was to conduct final negotiations in the afternoon to discuss the final details, Andy's Little Versailles Palace became extremely busy for the first time, after all, it was to be used as a temporary office for more than 50 subordinates.

After the meeting, Andy took Alvetrie to his extravagant study room, sat on a chair, lit a cigar by himself, and frowned a little depressed.

"Al, you're giving me a big problem..."

Alvetrie smiled faintly, picked up the coffee and sipped it slowly, not caring at all about the entanglement of the young boss.

"This will chill the hearts of many Americans!" Andy's stern face shrouded in cigar smoke showed a hint of worry.

"There is no way to control the amount and create a record that is one of the worst, if not the worst. Banks can only use this method to reduce losses for those who cannot repay the loan. The boss cannot pay the bill. Let’s go! The spirit of the contract must be implemented. We are not children. When housing prices rose, when they made money, didn’t they pay the bank an extra dollar?

Boss, your pity and sympathy are in the wrong place. This is a commercial behavior, a business, and has nothing to do with morality! "

The expression on Alvetrie's face suddenly became serious, and he analyzed it calmly.

"Hehe..." Andy shook his head and laughed, but he knew that Al's words were correct. Indeed, he couldn't repay the loan and let the bank lose money.

"Okay, let's leave this matter to you!"

Andy finally decided to deal with this matter according to American practice, even though he knew that Al's deep meaning was to actively create foreclosure, let the court confiscate the property, and then sell it at a low price, triggering the FDIC's loss sharing Undertake the agreement and make up for the loss from the FDIC.

In the afternoon, in Pasadena, Los Angeles, in front of the lobby of the headquarters of Indy Mac Federal Bank, Reich, the director of the U.S. Savings Administration, the head of the U.S. Federal Deposit Insurance Corporation, and more than a dozen bank executives watched solemnly from A huge convoy of more than a dozen SUVs and a black Rolls Royce drove in the distance.

"They are coming!"

"Bang bang bang..."

The motorcade was lined up in the square of the bank's headquarters, all the doors were opened, and a group of Wall Street elites in well-fitted suits and dignified faces descended, all walking quickly towards the black Rolls-Royce in the middle.

The tall and strong Kenny opened the car door, and Andy, who was also in a neat suit, got out of the car and stood in front of the car with a slight smile on his face. The group of people who walked down the steps, the corners of their mouths slightly curled up, and they were the first to greet them.

The huge team behind Andy made the passers-by around IndyMac Federal Bank, as well as the employees and customers in the bank lobby watch curiously. Everyone knew that something big was about to happen.

"Welcome, Mr. Smith, I am Reich, Director of the U.S. Thrift Administration, and this is..."

"Hello..."

Andy shook hands with the main persons in charge of this negotiation with a smile on his face. This was also the first time that Andy met them, and what was going to be the last crucial negotiation. In fact, there was nothing to talk about, the main thing was to confirm Some protocol details, such as staffing issues at the bank, and things that require collaboration.

After all, in the acquisition of IndyMac Bank, the bidding process was directly skipped, and it was not so "orderly".

But there is no way around this. At this time, only Andy Smith has the ability, funds and willingness to be the taker. The FDIC can't wait to hand over the bank immediately.

A group of 70 or 80 people walked into the bank's headquarters building in a mighty way, attracting a lot of attention. They saw Andy Smith, the leader, talking and laughing with the people around him, and the customers who were a little worried about the problems of Indy Mac Federal Bank I can't help thinking of a possibility. After all, the FDIC has publicly stated that it will find a buyer for the bank.

"Holy shit, Andy Smith is buying IndyMac Commonwealth Bank..."

. . . . . .

Seeing the disappearance of Andy and his group, everyone in the bank hall fell into discussion, and the employees of the bank were also a little shocked. cut off.

You must know that 3,800 employees have been laid off before. Although there are not many real bank employees, most of them are departments that issue loans like the Ministry of Housing and Construction, but who can guarantee that the new boss will not use them to reduce costs.

In the conference room.

"...There will be no layoffs for the time being. After all, before the bankruptcy, almost all layoffs have been made, and the regulatory agency has also conducted a complete "autopsy" on it. I believe that the current staff composition is the most perfect state. I believe that No comment!"

Andy's words made everyone in the conference room show strange expressions, and Reich, the head of the U.S. Savings Administration, even shook his head and smiled wryly.

"Mr. Smith, if there is no objection, we can sign the agreement..." The person in charge of the FDIC hopes to throw away this hot potato as soon as possible. To be honest, taking over IndyMac Federal Bank is a little bit for the FDIC. There are no benefits. Not only must the deposit compensation be continuously cashed out, but also the dilemma of being continuously withdrawn a large amount of cash is faced every day.

"The purchase price is 1.5 billion US dollars, plus 1.3 billion US dollars of capital injection, right?" Andy smiled slightly, looked at the negotiators on the opposite side, and reconfirmed.

"No, no, Mr. Smith, I'm afraid you made a mistake. The 1.3 billion is the loss sharing agreement deposit, which needs to be paid to our FDIC. The bank injects funds, which are your funds to support the bank's operations."

Seeing that the person in charge of the FDIC looked anxious with a pale face, Andy couldn't help apologizing and said: "Sorry, maybe I misunderstood, Al, is that so?"

Everyone in the audience couldn't help complaining in their hearts, damn, it's about more than a billion dollars, and only a fool will believe that you got it wrong.

Reich, the head of the U.S. Savings Administration, was quite speechless, and even looked helplessly at Andy Smith, who was still teasing everyone. He knew that the young man in front of him had obtained 10 billion dollars from the Federal Reserve to acquire IndyMac. of the Commonwealth Bank.

But no one thought that this big transaction involving tens of billions of dollars would turn into an acquisition case of less than 3 billion after a few discussions. Nima, this is simply beyond the expectations of many people.

But there is no way around that, as IndyMac's main assets of $23.5 billion are commercial loans, mortgages and MBS. Many of these are highly toxic assets, and almost many of them are irrecoverable. Otherwise, what is the subprime mortgage crisis? If these assets are included in the purchase price, I believe the bank will never be able to sell them.

"Mr. Smith, we need to complete the transaction as soon as possible to boost the market. After all, the U.S. banking industry is facing a very difficult predicament, and the run-on trend cannot be allowed to continue to spread. I believe the terms of this transaction are very beneficial to both parties. , I believe that you are also very clear about this!"

Reich, who understands the facts, has no intention of continuing to waste time here with Andy Smith picking out words. You must know that the FDIC agreed to sign the loss sharing agreement, which is already the biggest concession. At the same time, they are also worried that they will not do this. Guarantee, after Andy Smith learned about its toxic assets and debts, he directly dropped the pick.

"Okay, so be it! The agreement can be signed immediately, and I hope you can cooperate with my people to take over the bank assets to avoid chaos. I don't want chaos to happen again!"

Andy closed the agreement with a serious expression on his face. To be honest, there was nothing left to say. Everything was settled in advance by Alvetrie, and he even thought of such a brilliant idea as the loss sharing agreement. A talisman against the worst losses for years, what is there to hesitate about.

And it can also save him more than 7 billion US dollars for the next bank merger and acquisition, which is so fucking cool!

However, Paulson and the Federal Reserve will be depressed to death!

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