American Fortune Life

Including IndyMac, five U.S. banks have failed from December last year to this year.

who is the next?

Rumor has it that Freddie Mac and Fannie Mae, two of the largest mortgage financing companies in the United States, are effectively bankrupt because of insolvency.

During the days that IndyMac was closed, the stock prices of Freddie Mac and Fannie Mae plummeted nearly 50%.

According to media reports, Fannie Mae and Freddie Mac have written off $400.8 billion in capital due to the subprime mortgage crisis in the US real estate market.

Fannie Mae and Freddie Mac are insolvent and may eventually require a government bailout.

Lehman Brothers, the fourth largest investment bank in the United States, which may become the next victim, also makes mortgage securitization products as its main business. It is facing similar problems to Bear Stearns, which was acquired in March this year.

On May 14, the stock price of Lehman Brothers fell by 24% within a week, setting a new low for its stock price since 2000. Lehman Brothers shares have fallen 75% this year.

In fact, Washington and all economists understand the truth that the blood of IndyMac Bank cannot give birth to the US housing market rescue bill, because the White House hopes that the government will rescue those greedy capitalists.

Perhaps what needs saving most is not Freddie Mac or Fannie Mae, nor Lehman Brothers, but investor confidence in the US economy.

When a crisis involves confidence, profitability, value, and liquidity are of little value. If confidence collapses, disaster will inevitably follow.

It was at this time that Andy Smith showed up at the headquarters of IndyMac Federal Bank with a large private team. In the evening, the FDIC officially announced that it would sell IndyMac Bank to the bank (Yingtai Bank) for US$13.9 billion.

Yingtai Bank is a newly established bank, founded by Andy Smith. . .

The reason why the FDIC can't wait to announce it is that it needs a good news to boost confidence. There are signs that everyone believes that the banking industry has become unsafe. and First Honest Bank of Minnesota are facing bankruptcy crisis.

The U.S. Savings Administration and the FDIC hope to use the news of Andy's acquisition of Indy Mac Federal Bank to dispel the doubts and panic of depositors, let people know that it is safe to put money in the bank, and the depositors who are covered by insurance are protected. You will not lose a penny of your deposit.

Of course, the FDIC will not interpret the details of the transaction agreement in detail to the outside world.

News of the acquisition quickly spread across the United States, and the results were obvious. Bank stocks, which had been wailing all over the place, stopped falling on the second day after the news was released, and the stock prices of some large banking institutions rose slightly.

Andy, who was slightly exhausted, led his think tank into the headquarters of Indy Mac Federal Bank again amidst reporters' questions and flashing lights.

Last night, he, the big BOSS, did not act as a hand-off shopkeeper, but used his photo memory to check the information of Indy Mac Federal Bank.

Running a bank is very strange to him. Although he can find experienced professional managers to help him manage it, he must know some things well, because ignorance will be deceived and fooled by others, which is unacceptable to him. .

The atmosphere of the meeting between the two parties was much more relaxed this time. Everyone chatted a few words in the conference room. After Andy's huge think tank checked all the asset data, the two parties started the transaction.

A lot of work has been done by the subordinates, and all the principals like Andy need is to sign and pay.

When Andy took a pen and smoothly signed his name on the agreement document with a beautiful badge, the group of executives belonging to the FDIC and the bank felt relieved, and their faces showed expressions of relief.

The people in the FDIC were relaxed because they finally had a receiver, while the management of the bank was happy because they welcomed a golden TUI boss.

The days of tough, turbulent operations and no future in sight are finally coming to an end.

slap

When the heads of the two parties exchanged documents and completed the last signature, the entire conference room burst into warm applause and shook hands to celebrate, especially the executives of the FDIC and banks, and some even hugged and celebrated.

To be honest, in this bank failure incident, the FDIC department left a deep impression on both the inside of the bank and the people outside the bank. I admire the financial system and emergency system of the United States, which is really relatively perfect.

Andy's mood at this moment can't be said to be how excited and excited, perhaps because of the expenditure of less than 3 billion US dollars, he no longer has the sense of gain and loss of the huge transaction.

However, he finally has a good-sized bank with its own fund settlement center and its own savings pool. In this way, as long as the continuous expansion and normalization of operations of Yingtai Bank are completed, he can use his own With the huge capital background, he launched his biggest merger and acquisition plan.

At the press conference, the heads of the U.S. Reserve Administration and the FDIC spoke successively, expressing their respective opinions on the conclusion of this transaction. To put it bluntly, they each endorsed each other.

After all, there are currently very few buyers who are capable or willing to acquire troubled banks.

Andy looked at the media reporters who were staring at him at the press conference, and said calmly: "After a long period of prosperity, the banking industry is facing increasing pressure.

Banks and thrifts are grappling with rising bad loans, and it's clear that some lenders could be in trouble.

Although the number of bank failures is not expected to exceed the 834 between 1990-1992, it may take years for struggling financial institutions to resolve bad loans and replenish capital shortfalls.

Such a dire situation is inevitable, but it will also lead to a series of acquisitions that will weed out some of the worst performing banks.

Depositors began to care more and more about the operating conditions of banks. Many customers are now saying they are nervous about moving their money to a safe place.

Now, I can responsibly say to all our old and new customers that the new bank will provide you with the most secure guarantee!

Our new bank will still give higher interest than other banks, provide more friendly services, and let old customers who left us because of worries come back, because our bank is more confident to survive this cold winter!

Starting tomorrow, IndyMac Federal Bank will be the main body, merged with the former Miami Valley Bank, the former Douglas National Bank of Missouri, and the former Hume Bank of Missouri, and officially changed its name to Yingtai Bank. The number of branches increased from 33 to 82 . . . "

Wow

There was an uproar at the scene. I thought that the transaction of IndyMac Federal Bank was unexpected, but I didn't expect Andy Smith to complete the merger of four bankrupt banks quietly and form a transstate bank. Large banks have to admire the courage of this young man.

And more people have seen Andy Smith's huge ambitions, 82 branches, tsk tsk, a new banker was born!

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