Vol 6 Chapter 190: Get together

Chapter One Hundred and Seventy Get Together

To be honest, Feng Yiping didn't know that this second wave of agitation actually started with European banks.

The child got into trouble, and the child’s father was fine, but the old man couldn’t hold on to it. What do you call this?

He didn't expect that the initiator, Wall Street, at the center of the storm, could actually be so suffocated.

But apparently, after the German Industrial Bank made its head start, and for the first time to let the central bank of an established power like Germany intervene, some Wall Street companies, after finally finding a replacement for the dead, the sigh that had been strained finally dissipated.

On August 6, the tenth largest mortgage lending institution in the United States, the U.S. Home Mortgage Investment Corporation, formally filed for bankruptcy protection in the court, becoming another large mortgage lending institution that filed for bankruptcy after New Century Financial Corporation.

However, compared with the New Century Financial Corporation, the American Home Mortgage Investment Corporation, it can be said that the defeat was more thorough.

New Century Financial’s core business and assets, as well as company acquisitions, did not have such good luck. Before declaring bankruptcy, it had tried its best, but its experience was similar to that of Chief Yang. I wanted to pack up the company and sell it at the price of jumping off the property, but no one took over.

Before they released the bankruptcy announcement, their stock price successfully hit a new low of 50 cents.

Along with the announcement, there was also an email sent by the company’s CEO Mike Strauss to all employees. The central content of the email can be used in the variety show that was broadcast from 04. In "Flying Yellow Tengda", Ivanka’s To sum up Dad’s mantra, "You\\are\\fired!"

However, Strauss's courage is obviously greater this time. He fired 7,000 employees in the company in an email.

Bear Stearns, worthy of being the fifth largest investment bank in the United States, still needs to be more able to carry it. They just held back on August 8 before announcing the closure of the two funds under it.

At the same time as the announcement, Bear Stearns’ CFO, Molinaro, said in front of all reporters, “This is the most miserable credit market environment since the Great Depression of 1933.”

But on that day, his words were used by many people on Wall Street as a rant under pressure and emotional out-of-control. Traders in the bar surrounded by beautiful women laughed after a few drinks. "How can the current credit environment be so bad?"

The next day, on August 9th, in Europe across the ocean, after Germany, another member of the old Europe, France, also experienced a similar situation. The largest bank in France, BNP Paribas, announced the freezing of its three funds.

The reason is also because of the huge losses incurred by investing in US subprime bonds.

On the day the news came out, the London Interbank Offered Rate soared and the European interbank market collapsed.

European stock markets, a heavy setback!

After that, it was the Asian banks' turn to join in the fun.

On August 13, the Mizuho Group, the parent company of Mizuho Bank, Japan's second largest bank, announced that the losses related to subprime mortgages in the United States were about 600 million yen.

But this is only the tip of the iceberg. According to estimates by UBS Securities Japan, the nine largest banks in Japan hold subprime mortgage-backed securities in the United States, totaling more than one trillion yen.

When Feng Yiping saw this news, he couldn't help but ridicule. Perhaps this is the self-cultivation of a dog leg?

South Korea, another American younger brother in Asia, is naturally unlikely to be spared. According to statistics, five Korean banks, including Woori Bank, hold nearly US$600 million in US subprime mortgage-backed securities.

However, these two countries are somewhat similar in their roots. Regardless of how much MMP wants to say to the American boss and the rating agencies on Wall Street and Wall Street in the United States, it is very hard to say, "The secured debt of our investment Most of the certificates have the highest credit ratings. The impact of the subprime mortgage crisis on us is very limited!"

if not? Asking American dad for compensation? ——What daydreaming!

Then, one of the largest banks and financial institutions in the world, the first financial group in the United States that integrates commercial banks, investment banks, insurance, mutual funds, securities trading, and many other financial service businesses. A kind of tonic, so Citigroup, who feels a little kind inexplicably, also followed suit.

Well, in July, we calculated that the related losses caused by subprime mortgages amounted to about 700 million US dollars.

Because it didn't affect us much, and because we didn't want to make colleagues nervous, we didn't say it at the time.

When they talk about this, they are still a little emboldened. After all, their single profit in 2006 exceeded US$20 billion.

When Feng Yiping saw the news, he only thought of another thing. American ginseng is a good thing, but it also has its drawbacks. For example, there was a period of time when the American ginseng lozenges were very popular in China. If you eat more After a few pills, it's easy to do that-exhaust.

It can be embarrassing in public places such as elevators.

Hope that Citigroup will not be like American ginseng.

…………

On Saturday, August 18, in a brunch shop on Dune Road, Feng Yiping had just picked up Peppa and Brin at the door, and Jobs' car happened to arrive.

"Hi," he greeted the three at the door from a distance.

It looks obviously thinner, but at least he is energetic.

As soon as the four of them entered the door, instantly, whether it was the executives of the nearby venture capital company, the entrepreneurs nearby, and some teachers and students of Stanford, whether they were talking or having meals, their voices dropped by several eight beats.

For many people here, it is difficult to meet one of the four of them in a restaurant in Silicon Valley, let alone meet four at a time?

If Jobs is not there, someone may come up to talk to him, but since Jobs is there, no one wants to get in front of them and get in trouble.

Only the boss was a little overjoyed, he thought secretly, humming obediently, maybe by tomorrow, my store will rise to fame, but he is a little entangled.

Jobs is famous for his pickiness, even among these restaurants in Silicon Valley.

As for the previous Buck’s, it can be called the most legendary restaurant in Silicon Valley, not one of them.

From Netscape, Yahoo, Paypal to Google... They all got venture capital investment there and became legends.

So even the restaurant has become a legend in Silicon Valley. Big bosses will patronize, entrepreneurs will dream, tourists will worship...

Only Steve Jobs said clearly that he would never patronize.

Because the owner of that restaurant was an architect, and Jobs was quite dissatisfied with Buck’s decoration style and thought it was quite bad.

The boss felt that the decoration of his restaurant, in any case, did not meet Jobs' requirements.

But maybe today is his lucky day. He could see that Jobs was quite sneer at the decoration of the store, but until his meal was ordered-it was still mainly fruit, without sarcasm in person.

For the remaining three, he was a little bit wondering who to greet first~www.wuxiaspot.com~ Brin spoke first, "I want fried eggs, bread, coffee,"

"Blueberry muffin, orange juice," Peppa ordered.

Feng Yiping looked at the tiredness of the two of them, "Is this working late last night? Or until now?"

Brin rubbed his eyes. "Just got off work..."

But Feng Yiping was just polite, he was also hungry, "Steak, fried eggs, french fries, orange juice, thank you,"

"Eat so much?" Even Jobs said.

"Brunch," Feng Yiping said with a smile.

Although he didn't work overtime last night, he also worked very hard last night.

"Wait, mine is the same as his," Brin seemed to be aroused by Feng Yiping.

"Then make three copies," Peppa also said.

"Okay," the boss was immediately happy.

That's great. The three of them actually ordered the same meal, so this set meal will definitely be the most popular one in their restaurant in the future.

Especially, there is a higher value-added dish like steak, which is really good!

The meal ordered by four people was quickly brought up. Although they had brunch outside for the first time, it was because of the situation that made them more and more happy recently, but during the meal, it seemed to be tacit. No one talked about this.

However, the joy made everyone very relaxed during the dinner, so that those who quietly followed their table were a little confused. What is it that makes these four of them so happy at the same time?

But they never found the answer.

Because the four of them didn’t seem to say anything nutritious before they left the restaurant. Could it be that these four big guys gathered together on the big weekend, just like those housewives who had beauty in addition to shopping, just to eat once Brunch?