American Fortune Life

For a long time, the Federal Deposit Insurance Corporation (FDIC) of the US government has two basic goals when disposing of bankrupt banks. One is to convince depositors and lenders that the banking system is sound, and to minimize the cost of insurance funds managed by the FDIC.

The second is that the regulator will conduct an "autopsy" on the failed financial institution, and publish its assets and liabilities on an internal website, while other banks and interested investors can bid on the website. The FDIC selects the winning bid based on what it calls an objective criterion of "least cost" to the insurance fund.

After the article "The Blatant Highway Robbery Continues" was published, it naturally attracted the attention of other media. After all, the article involved the bankruptcy acquisition of many banks, and the accusation was not Yingtai Bank. The media did not have too many scruples, but the FDIC was unlucky. Questions about the acquisition of various bankrupt banks were rampant, and questions about whether there was insider trading appeared in various media.

The FDIC public information officer had to stand up and affirm the FDIC's standard for disposing of bankrupt banks, "99.9% of the time, this is an orderly process."

Watching the scene on TV where the FDIC public information officer struggled to deal with the tricky questions of the reporters, he could not help chuckling and shaking his head, although in the IndyMac case, the bidding process was not so "orderly". He should be worried, and shouldn't laugh out loud easily. However, in this feast of annexing bankrupt banks, Andy Smith's appearance is still good-looking. Companies such as MG Chase and Goldman Sachs are simply crazy, and the sky is falling. With these tall people supporting him, he wasn't worried at all.

Since IndyMac fell into a liquidity crisis in June 2008, depositors withdrew nearly 8 percent of their total deposits by the end of July. The FDIC then took control of IndyMac, and it didn't take long for it to seek a hand. The main reason is that IndyMac Bank not only sells a large number of subprime housing loans, but also provides a large number of similar housing loans for Fannie Mae and Freddie Mac. The securitized mortgage loans issued by the latter have plummeted in price, and the FDIC Will lose to death.

At that time, Andy Smith appeared, bid $1.5 billion, and used the method of loan minus deposit to evaluate the assets of IndyMac Bank to $13.9 billion and propose an acquisition intention. It is undoubtedly a 'big favor' to the FDIC!

And under the "friendly help and negotiation" between the Federal Reserve and the Minister of Finance, the FDIC agreed to Andy's acquisition proposal, agreed to hold some assets with more serious problems, and agreed to sign a risk sharing agreement.

According to the agreement, once the total loss of IndyMac Bank's loan portfolio exceeds 30%, the FDIC will bear 95% of the losses.

In the face of doubts from the media, former FDIC chairman William Isaac said helplessly and angrily, "There was no fixed price at that time, the financial market had stopped, and everyone didn't want to buy anything. The FDIC had to sign a risk-sharing agreement, but That doesn't change the fact that the acquirer took a huge, significant risk. Now that someone is making a fuss about it, I want to ask them what they were doing then!

We're also more inclined to sell IndyMac to a bank than to a private individual like Andy Smith. But in 2008, all the big banks couldn't insure themselves. Who else would take over a mess?

To be fair, buying IndyMac was not an appropriate strategy for many banks at the time.

As for the loss sharing agreement. This morning, the FDIC has issued a statement in response, and the FDIC has never paid any loss-sharing compensation to Yingtai Bank! The allegations made by the two financial bloggers were based on a misinterpretation of the loss-sharing agreement.

. . "

"I can say responsibly that as of today, Yingtai Bank has not received any compensation from the FDIC for the loss of IndyMac Bank's assets!"

On the TV, Stephen Nuby, the CEO of Yingtai Bank, faced the swarm of reporters, and said sonorously under the protection of the bodyguards with a calm expression.

"Haha..." Andy in front of the TV laughed and shook his head, complaining, "Damn, I almost believed it! These guys' survival skills are really strong."

Wearing a pink suspender pajamas dress, with a big belly and an amazing career line looming, she walked to the sofa unsteadily, pursed her lips and said with a coquettish smile: "You are so gloating, I don't know, it really makes people think It has nothing to do with you."

"To be honest, I'm really reluctant to part with Stephen Nuby. Although this guy is vain and extravagant, he is indeed capable, and he is ruthless enough to represent the face of a banker. It would be a good idea for him to help me take the helm of Yingtai Bank. Candidate." Andy stretched out his hand to hold Ivana's arm, helping her to sit slowly on the sofa.

"Then you give him a chance. After all, you don't have many skills. You still need this kind of talent to manage your assets. Moreover, you don't hesitate to throw him out as a shield. It will inevitably cast a shadow on other professional managers." Ivana suggested.

Andy smiled faintly and took Ivana into his arms, kissed her on the forehead and said: "It's up to him, if he can turn the bad situation around or get through it safely after attracting all the firepower , I don't mind continuing to hire him, if I screw up, I can only say sorry, there is a proverb in the heavens, it is called "Dead Dao Friends Don't Die Poor Dao", which means..."

"Giggle..." Hearing the explanation, Ivana's smile trembled wildly, showing a fierce look, she reached out her hand coquettishly and tapped Andy's nose, "You are so insidious, who would have thought that you would dig such a deep hole. "

"This is not a hole I dug, it's all Al's idea, so the most correct thing I did was to form a top think tank early on, and the annual cost of tens of millions is definitely worth it " Andy raised his eyebrows triumphantly, and looked back, causing Ivana to be coquettish for a while.

Ivana is also very envious of her man's well-known think tank, and also admires Andy's generosity. After all, not everyone is willing to spend a lot of money to set up a think tank company to provide him with personal services.

"By the way, dear, when will your guest arrive?"

"It should be noon, and I need to trouble you, the hostess, to prepare for the reception." Andy smiled at Ivana after checking the time.

"Hehe, don't worry, the Hawaiian special dinner, I believe the guests will like it, and I am also looking forward to the meeting with the eldest daughter of the Four Star Group, Li Fuzhen, I have heard some information about her before, I still remember the Four Star Group Years ago, the heiress of the Four Star Group committed suicide in New York, and the family grievances of the Four Star Group were like a novel." Ivana said with beautiful eyes.

Andy laughed, caressed her arm, and said softly: "Li Fuzhen is a professional strong woman who is similar to you. This time, the casino hotel project cooperation in Jeju Island, with the participation of local forces, can operate better. Also invited this time is the daughter of the gambling king of the Ao family. She is also a very influential professional woman. I believe you will have a common language. By the way, Li Fuzhen seems to be getting a divorce. You should pay attention. "

Ivana rolled her eyes at Andy coquettishly and said: "I have read the information of the guests, don't worry, there will be no problems, but, two very influential women in Asia came here all of a sudden, it is really impressive We look forward to the next meeting and exchange.”

Andy looked at the excitement and anticipation on Ivana's face, chuckled and shook his head, but thinking of Li Fuzhen, the little flame in his heart could not help but swell again, he really missed her taste, although the two had made an appointment long ago, but because of Li Fuzhen The return of Li Jianxi made her unable to make the trip, and this power change made Li Fuzhen fully realize the degree of eccentricity of her father Li Jianxi. No matter how well-behaved and obedient she was, she could not change the fact that she was not destined to be a four-star ruler.

Coupled with her wolf-like brother Li Jae-rong, she did not dare to stay away from South Korea easily, fearing that he would reap the rewards from the bottom of the pot and calculate her assets, so the two people's "date" was delayed again and again until this time Hawaiian party. ...

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