Vol 6 Chapter 378: Ugly
On the 13th in Washington, the weather was fair.
On the way back from the National Press Club to the Ministry of Finance, the air pressure in Paulson's car was somewhat low.
Part of the reason is the effect of the speech in the club just now.
Let's put it this way, let alone in the cabinet, even among all the well-known political figures in Washington, Paulson's speech level is also very average.
His voice is a bit hoarse and sharp, and when he becomes impatient, he will stutter a little, because there is no outstanding eloquence. When answering reporters' questions, his response is generally not too brilliant.
What's more, from the fact that he didn't care much about the speech, his assistants could see that his attitude towards today's speech was quite perfunctory.
Therefore, everyone did not have any expectations for the effect of this speech.
They were very indifferent to such things.
Because Paulson's image in the minds of Washington people is still a strong-sounding executive, not a slick politician.
The impressive achievements he has made in the past are all made in reality, rather than speaking out with a single mouth.
And when everyone is unreliable, such a practitioner who is not good at speaking, but has the first-class ability to solve and deal with problems, it is easier to get the trust and support of the people.
But even so, it doesn't mean you can say the wrong thing in front of so many reporters, and it's still such an unforgivable mistake.
In the speech just now, the Minister suddenly said "want to be responsible to taxpayers" as "do not want to be responsible to taxpayers."
What if you say "don't want to be responsible to Wall Street"?
Although he tried his best to explain, but I believe that the reporters present will not let go of such an unexpected surprise.
Paulson had been looking down at the file, as if he had made such a serious verbal error just now.
Because he didn't even intend to become a politician from now on, so he was wrong when he said it wrong.
He has more urgent things to worry about now.
Last night, together with Geithner, he has screened many possible takers for Bear Stearns-including Deutsche Bank. Finally, they reached an agreement on this issue.
They also discussed some of the challenges they will encounter in the implementation process, and put them together, there are two points, one is the valuation of Bear Stearns; the other is to get the New York Federal Reserve Board to agree to their loan agreement.
But the most critical question now is what time to choose to implement this plan.
Because they don't know how much cash Bear Stearns has in his hands, and when Bear Stearns has not reached the point of being irreversible, they obviously don't directly intervene.
Otherwise, it would be like forcing Bear Stearns to sell the company.
Therefore, the problem has returned to the two difficulties in the implementation process.
He was looking through the papers and meditating, when the phone rang in the car.
A few seconds later, where the **** phone continued to make noises, Paulson looked up and saw the assistants put the phone back in their pockets, and one of them pointed to his pocket.
Paulson touched it. "Sorry."
He took out his BlackBerry, looked at the call on the screen, and quickly answered, "Feng,"
"Hank, that slip of the tongue just now will be a little troublesome," Feng Yiping said.
Paulson didn’t ask Feng Yiping how he learned about the news so quickly, “I’ve got enough trouble now, I don’t care about this one more.”
"Then I think, when the relevant plan is released, someone will definitely attack this, saying that you didn't think about being responsible to taxpayers from the beginning," Feng Yiping continued.
Paulson naturally thought of this.
That is to say, when he proposed that unprecedented amount of rescue plan, someone will definitely make a fuss about his slip of the tongue today, saying that he is only responsible to Wall Street and not to taxpayers.
"Feng, no matter what, I will definitely be attacked by all kinds of attacks at that time. I just need to make sure that my plan can pass."
Feng Yiping heard the confidence in his words.
He also believes that Paulson will surely pass his plan, because an outstanding CEO like him must be a master at solving problems.
Feng Yiping estimated that Paulson would not be unprepared in this regard. He had already done some key figures on Capitol Hill early.
From the point of view of a qualified CEO, this is nothing surprising. As most of us open a small store, don’t we all know that we need to have a relationship with industry and commerce and taxation in advance?
"As for taxpayers, I think they will naturally understand why I did this in the future,"
It's just that although the words are free and easy, Feng Yiping heard his helplessness.
Because they all know that the plan is bound to be a very controversial plan, and Paulson, as the main advocate and implementer, must be at the center of the dispute.
Or put it straight, he will be criticized by then.
Because for most Americans, helping Wall Street is irresponsible to taxpayers.
But in fact, such a scheme that shows that it is not responsible for taxpayers is actually responsible for taxpayers...
"I appreciate your dedication," Feng Yiping said.
Paulson didn't care much about Feng Yiping's jokingly affirmative, "Feng, it just so happens that I have a question..."
"Hank, I also happen to have a question, can you let me speak first?" Feng Yiping interrupted him.
He used the expensive satellite phone to make calls on the plane, mainly not to confuse Paulson.
"Oh well, it's your call after all," Paulson said.
"That's right, we all know that Bear Stearns' days are only these two days," Feng Yiping said.
"Fon, Bear Stearns is in a difficult situation, but their mobility..."
"Come on, Hank, if you are still so optimistic at this time, you are deceiving yourself and others," Feng Yiping said. "It's not today or tomorrow. Anyway, I think within this week, their problems will burst out, right?"
Today, Thursday, tomorrow Friday, Paulson's heart is actually so expected.
"That's why I rushed to the front to ventilate you," Feng Yiping said, "I'll tell you the truth. As you know, our fund signed a credit default swap with Bear Stearns for a total of 530 million US dollars last year. protocol,"
"Just at the beginning of this month, we also paid premiums to them, so no matter who Bear Stearns was finally sold to by you, I demand that the income of our fund must be guaranteed."
"You know, in my fund, there are also the two founders of Google and Jobs. There is a problem, and I can't explain it to them."
"But I know the principles of Wall Street. I don't want to have a pile of **** when it's our turn, or just leave us aside."
Although he had asked Lauder of Goldman Sachs and Xia Jinheng of Morgan Stanley to notify him in time, he also knew that those two guys were definitely not reliable on such matters.
Paulson is still reliable.
"So, at that time, I may have to take some actions..."
"Wait for Feng," Paulson interrupted ~www.wuxiaspot.com~According to your agreement with Bear Stearns, how much should they pay you? "
"2,743 million, wait, I will send you the numbers,"
"Okay," Paulson gestured to his assistant, and took the pen. "I'll write it down first."
He was actually envious in his heart. He invested 530 million yuan and earned nearly 2.75 billion yuan. Even after removing the expenses, there was a 5 times return. This business!
"In this way, Feng, I will feed back your opinions to key parties, so can you not take the planned actions?"
He understood that since Feng Yiping had spoken to him in advance, the actions he planned to take would definitely not be peaceful.
"Hank, I can believe your promise," Feng Yiping leaned back in the seat easily, which was exactly what he wanted.
"Think about your partner, can I still perfuse you?" Paulson said.
Neither Feng Yiping nor the two Googlers, just rushed to Jobs. He would not let the two situations Feng Yiping said.
Can they still not understand Jobs' combat effectiveness?
"Well, I will tell them your attitude, thank you Hank,"
Feng Yiping smiled secretly, if it weren't for the three partners, what would I do?
"Don't thank me, I have to thank you, thank you for not taking any action," Paulson said gruffly.
Think about the background of the four members of their fund. It really annoys them. How can there be good fruits?
"Oh, you're welcome," Feng Yiping said with a smile.
Paulson felt panicked, because this "you're welcome" is not an idiomatic expression, it's really you're welcome.
But what can be done?
"Goodbye," he hung up, but then he remembered, the question I want to ask, haven't I asked it yet?
