rebirth against the times

By the way, with the conclusion of the Olympics in China, everything has gradually returned to calm. The eyes of the world have turned to the United States again. In the past period of time, the subprime mortgage crisis in the United States has not stopped because of the Olympics.

If it was said that the storm was coming before, now it feels like the building will collapse. However, there are always many people in this world who will not shed tears without seeing the coffin. Even so, many people still firmly believe that the building will not collapse, even if their

The reason is just a stick for support, a thread for pulling is so fragile.

Since August, Liu Shu has been talking to Bai Shuo, Liang Ying, and Zhong Pengcheng almost every day. All the U.S. economic data have been messed up. Non-Bart is preparing to invest in Lehman Brothers, and the U.S. is discussing the "Brand and Freddie" rescue plan... this

Liu Shu felt a little overwhelmed by all the major events. He had a premonition that the decisive battle was getting closer and closer, and it might suddenly break out someday, although he had made arrangements according to Bai Shuo and Liang Ying's arrangements.

He made all preparations, but he knew that he would never be the commander in chief to command this decisive battle.

Bai Shuo and Liang Ying only stayed in Shudu for two days before setting foot on the land of the United States again. Wall Street is already a very familiar existence to them, but when they come here again this time, it is different.

feeling, because they all knew that a big drama was about to take place.

After Bai Shuo, Liang Ying, Liu Shu and the team studied the recent situation together, Bai Shuo and Liang Ying lamented that they had indeed missed a lot of wonderful foreplays in the past few months after returning to China, the most important of which was not

Bear Stearns, one of the world's top 500 companies, the fifth largest investment bank on Wall Street, is facing bankruptcy and being acquired. Because Bear Stearns holds a large number of CDOs, investor confidence in it has declined, and a run has occurred, and Bear Stearns has lost a large amount of cash.

, the cash reserve was basically zero, and it was facing bankruptcy. Through repeated deductions, the US government found that Bear Stearns would have considerable systemic risks if it went bankrupt, and after some consideration, decided to rescue Bear Stearns.

Around April, after the United States took emergency action and agreed to "guaranteed" 30 billion yuan in loan support, JPMorgan Chase immediately announced that it would acquire Bear Stearns at a price of 2 yuan per share. The acquisition price was only Bear Stearns.

When it went public in 1985, the stock price was one-third of the price, and less than a year ago Bear Stearns' stock reached 159 yuan.

As soon as the news came out, everyone was stunned. Later, JPMorgan Chase and Bear Stearns jointly announced the "revised acquisition agreement": According to the revised terms, each share of Bear Stearns' common stock will be exchangeable for one share of JPMorgan Chase common stock.

The purchase price was equivalent to an increase of 10 million yuan. At the same time, JPMorgan Chase and Bear Stearns reached a share purchase agreement. According to the agreement, JPMorgan Chase will subscribe for 95 million shares of Bear Stearns' newly issued common stock in cash, which is equivalent to

For the enlarged 39.5% stake in Bear Stearns, each new share was priced at NT$10. The amount will be used as emergency funds to support Bear Stearns to cope with the financial crisis.

Afterwards, several parties went through a series of operations, and Bear Stearns finally got through the danger temporarily. This acquisition is of great significance. Not only did Bear Stearns' more than 30 billion yuan of non-performing real estate assets have been preserved, it also allowed many companies to

Seeing hope in the crisis has also made many people more convinced that this crisis is not that terrible. So many big names have come forward to claim that the most difficult moment of the crisis has passed, and the market even showed signs of recovery.

The U.S. dollar also showed an upward trend. However, the U.S. government’s rescue of Bear Stearns has also become a public criticism. People accused the government of using taxpayers’ money to rescue private capitalists. This also paved the way for the U.S. government to want to rescue Bear Stearns again in the future.

There is a tightrope in rescuing bankrupt companies.

This incident happened to happen during Bai Shuo's visit to Silicon Valley and his return to China for earthquake relief. Although it seems as calm and calm as watching a documentary now, the outcome has long been doomed. But everyone knows that the course of this incident must have had some ups and downs.

Behind it are many unknown secrets such as political trade-offs, economic games, intertwining interests, and control of the macro situation.

After the Bear Stearns incident, just as everyone was rejoicing, many people did not know that some companies that were larger and more influential than Bear Stearns were also at a critical juncture. One of them was the No. 1 company on Wall Street.

Four investment banks - Lehman Brothers.

In fact, the crisis of Lehman Brothers was not big in the first place. The only reason to blame is that Lehman’s boss, Mr. Lei, made wrong judgments about the direction of the real estate market but was too conceited. He always believed that American real estate would continue to grow.

Continuing its brilliance, at the beginning of the crisis, he boldly entered the market to buy bargains and acquired a large number of mortgage securities. As the crisis deepened, Mr. Lei showed his "confidence" and continued to buy bargains and lose money.

Lehman Brothers, which did not have much crisis in the first place, turned into a victim. As early as March this year, Lehman Brothers had already begun to have a crisis, its stock price plummeted, and it also implemented large-scale layoffs. Later, "Mr. Lei" saw that it was relying on

It was true that he could no longer save Lehman Brothers, so he actively coordinated with the US government and the Ministry of Finance, and arrogantly asked the government for rescue. However, this "Mr. Lei" usually relied on his wealth and arrogance, and offended many people.

, this also deeply affects the corporate culture in the company, and Bai Shuo has seen it before. Although everyone did not directly reject Mr. Lei’s arrogant request, there were not many people who really wanted to help Lehman.

indivual.

Especially after the government rescued Bear Stearns, "Mr. Lei" became even more confident. He thought to himself: "Hey, you guys have saved the fifth-ranked guy, and I'm the fourth-ranked guy, so there's no reason not to save him."

"So I often find the American government to quarrel: "Bear Stearns' 30 billion in non-performing real estate assets are nothing. I have much more than him. If you don't save me, I will explode on time. Then, with a "bang" sound, everyone will play.

over."

But this seemingly funny operation actually works in the United States. The entire ZF in the United States is panicking. They just saved the fifth child. Now if something happens to the fourth child again, the people will be really scattered. The team will be dispersed.

But it's not easy to lead. If the team can't lead it, then I'm afraid the entire American government will have to change. It seems that if we don't give him some comfort, if the boss suddenly turns into an "Angry Bird" and starts to self-destruct that day.

, that is really incredible. At this time, the sentence "the American government is run by these capitalists" was well reflected. Although the American government had just rescued Bear Stearns and was criticized for not directly intervening in the operation of Lehman again,

However, Finance Minister "Lao Cai" still tried his best to find a way, and finally pulled the stock god Feibart over and transformed into a white horse knight to protect Lehman. "Hey", with the help of Feibart, this has nothing to do with our government.

Feibart is a good stock god, but he is not a philanthropist. The capital market is full of blood and cruelty. After some research, Feibart came up with a very good plan, at least he himself looks very good. Feibart

It plans to inject capital into Lehman at a unit price of 40 yuan per share and obtain preferred shares with a total price of 4 billion yuan. These preferred shares will pay an annual dividend of 9%.

Lao Cai was very happy to see that Fei Bart was willing to take action, and immediately told Mr. Lei: "Brother, I have already taken care of your matter for you. You can talk about it yourself, and I will not participate, otherwise the people will blame me again."

Already."

Mr. Lei happily took the plan, 4 billion yuan, um, not bad, should be enough for me to play until the crisis is over. Once the crisis is over, I will be a good man again, hey... wait, every year

You want a 9% dividend, what the heck? Doesn’t that mean that the Patna old boy will take away 360 million yuan from Lehman every year? Damn it, is this investment or loan sharking? You city people really know how to play.

Besides, with Lehman’s brand name, how can it be only 40 yuan per share? This is simply an insult.

Mr. Lei directly rejected Fei Bart's plan, thinking: "Hey, brother, you better play with yours, and I'll play with mine." However, he did not contact Fei Bart and directly threw the plan aside.

It was as if nothing had happened. He still firmly believed that the real estate market would recover soon, and he felt that Lehman Company was still very marketable. As long as he was willing, there would be a lot of people lining up to negotiate. Non-Bart

There was no reply from this guy. Well, since you "pretended to be deaf", I would also "pretend to be dumb" and the investment matter became nothing. According to Feibart's recollection a long time later, he was traveling with his wife outside at that time.

He sent the plan to Mr. Lei, but because he didn’t see a reply, he forgot about it. After all, while his health was still okay, his wife was the most important thing.

The U.S. government had no choice but to fall out with Mr. Lei. The Ministry of Finance and the Federal Reserve Bank of America discussed it again and felt that Lehman could only find a buyer who understood the current situation to take over. After some discussions, they decided to find the right Lehman.

The British Empire's Barclays Bank and the Bank of America were interested in taking over, but the matter had to be kept secret. If the market knew that Lehman was ready to be sold, it might immediately become Bear Stearns' second. So,

The U.S. government stepped forward and began to carefully bring together Barclays and Bank of America to take over "Lehman Brothers."

Time waits for no one. After the results of Lehman Brothers were released in the second quarter, it showed another loss of 2.8 billion yuan. Under this situation, Lehman's stock price went from bad to worse. Investors and customers in the market obviously became more and more dissatisfied with Lehman.

Losing confidence, if this continues, once there is a large withdrawal of funds, Lehman will really be doomed. But Mr. Lei is really powerful, and he will even attack himself if he is ruthless. He directly punched three times: First,

Shifting the blame, he openly accused Goldman Sachs of manipulating stock prices, disrupting the market, and trying to bring down Bear Stearns and Lehman Brothers, which caused an uproar in the market. This clearly means: "It's not me, Lehman, but someone who is messing around.

If we can get rid of the messy people, we will still be very good." However, although this trick was bad, it still played a certain role temporarily and diverted the market's attention. The second was to directly fire the company's CEO and

The chief financial officer has adopted a new attitude of positive reform to win public trust. The third move is to prepare to sell the company's assets of about 40 billion yuan to obtain funds to survive the crisis.

The new CEO of Lehman is also very powerful. He immediately found Korean buyers for negotiation soon after taking office. In their eyes, these Korean stickmen are just stupid young people who know nothing but follow the United States and lick the dog.

.The early negotiations were relatively smooth, but the Korean stickmen looked stupid but were not stupid at all in their hearts. After the talks, they were only willing to buy high-quality assets, and were not interested in the real estate assets with the biggest problems, and demanded that these non-performing assets be divested. Regardless of Lei

They were like fools and couldn't understand how Man explained and guided them. The conceited Mr. Lei couldn't bear his anger and felt that the progress was too slow, so he decided to personally come forward to negotiate with the Korean people. Mr. Lei's sudden appearance did not help.

He didn't get enough respect from the Korean stickmen, but Mr. Lei didn't care, because he felt that he would soon be able to make the Korean stickmen willingly spend a lot of money. During the negotiation, Mr. Lei still showed a arrogant look:

What? As long as high-quality assets, not real estate assets, I want you to eat shit, you still want to eat only meat, no way. If you re-evaluate the value of real estate assets for me, we must eat them. It is better to just digest them.

Forget about real estate assets and other high-quality assets.

When the Koreans saw this posture, what was going on? They were planning to buy and sell by force. Who should I be afraid of if I have money? Mr. Lei felt that the Koreans were too ignorant, and his hot temper came back, and he stared at him in annoyance.

Korean people.

The Koreans didn't show any weakness when they saw this, and slapped the table: "What are you looking at?"

Mr. Lei also slapped the table: "What are you looking at?"

Korean: "Try another one."

Mr. Lei: “Just give it a try!”

Just when Mr. Lei's momentum reached its peak, the Korean waved his sleeves and walked away. "Gently, I left. I waved my sleeves and didn't take away a single cloud."

Yeah, isn't that how the script works? Come back here. Mr. Lei, who has always been pampered and accustomed to being respected and cared for, looked at his subordinates in confusion: "What's going on, man? I used to face financial problems

The Ministry of Finance and the Federal Reserve Bank of America are all like this. People don’t dare to let go of anything. Why are these Korean sticks like this? The world has really changed."

The new CEO shrugged his shoulders and spread his hands with a helpless expression, "It has nothing to do with me, you are the one who committed suicide..."

Mr. Lei became angry and said, "Okay! You have discovered such a shameful thing about me, so you can get out. So the top management of Lehman changed one after another. As Mr. Lei's "

Lehman is also sliding towards the edge of collapse step by step.

(The following plot will be changed according to the needs of the plot on the basis of drawing on historical facts. The time, process, details, etc. of some events may be different from what everyone knows. I hope everyone will not take it for granted)?