Vol 6 Chapter 617: compromise
Because he has not received a clear reply from Blackstone today, a vice president of Goldman Sachs called his office at noon. The words were quite euphemistic, but the meaning was very strong.
What to plan out "During this time when everyone’s life is difficult, anyone’s patience is limited..." After these superficial meanings, his words can be summarized in one sentence, "If you toast without eating, then you can only take punishment. liqueur,"
This is the core meaning that Su Shiming personally summed up after listening to the secretary relaying it twice.
Is he scared if he is so threatening?
really worried.
Because he knows that a company like Goldman Sachs is by no means a mere intimidation, and recently, due to difficult circumstances, Goldman Sachs's behavior has become more radical.
The reason why I want to show them this meaning instead of doing it directly is probably because of the overall situation.
If Goldman Sachs personally end up against Blackstone when everyone is working hard to save the market, Paulson will not agree.
But if Goldman Sachs made up his mind, then he might really have no hesitation. Think about Bear Stearns and Lehman Brothers. The reason why they ended up in bankruptcy, Goldman Sachs is really hard work.
If Goldman Sachs really starts, can we stand it up?
If I hold on to Hilton, what will Goldman Sachs do?
No, now I have to count Feng Yiping.
was irritated to Feng Yiping, but he never dared to take it lightly. When Feng Yiping and Goldman Sachs joined forces, no matter what he thought, he was not very sure in his heart.
This evening, the lights in Su Shiming's office have joined the sleepless night on Wall Street.
It was almost at the power bank of Magic Workshop. When the group buying ended, his deputy broke into his office with a panic expression, "Stephen," the man shouted out of breath.
When Su Shiming saw his face, his heart couldn't help but feel tight, "What's the matter?"
"I just got the news," the man sat down and pulled off his tie fiercely. "They have decided to take over Washington Mutual Bank by force tomorrow."
"What?" Su Shiming stood up fiercely, "At this moment, they take over the mutual bank?"
The so-called forced takeover is actually announcing the failure of a mutual bank.
But Mutual Bank is one of the largest savings banks in the United States. Among the savings and loan banks in the United States, it has the most branches, total assets of more than US$300 billion, and tens of millions of customers.
Just when the rescue plan was being discussed intensively, they decided to let the mutual bank fail?
"Where did you get the news?"
"Xiao Mo," the deputy said, "The Federal Insurance Company and the Federal Reserve Bank, ask if they are interested in the subsidiary of Mutual Bank Commercial Bank."
"You know, in order to ensure the safety of depositors’ deposits, it’s best to divest this part of the mutual bank business completely,"
Of course, Su Shiming knows this, otherwise, not to mention how much the market will be affected by the failure of the mutual bank at this time of turmoil. Just say that if the deposits of mutual bank depositors are damaged, then I also don’t know what will happen.
Just like our country, if a commercial bank fails, the upper limit of compensation is 500,000. All countries have similar regulations in this respect. In the United States, the upper limit is 100,000 US dollars.
Therefore, after the collapse of a commercial bank, the biggest deposit losses will be large depositors, that is, rich people or rich institutions.
Who knows what will happen to those rich guys to suffer such losses when the rescue is already underway?
The important thing is that when depositors are damaged, the government also suffers.
The first to bear the brunt is the Federal Deposit Insurance Corporation, which is preparing to take over the mutual bank. The main responsibility of this company is to protect depositors in insured banks and savings institutions.
Mutual Bank failed, and it was it that had to compensate depositors for their losses.
The Federal Deposit Insurance Corporation, said to be a company, is actually a federal agency, so its losses are federal losses.
To say that this year, its losses have been large enough. They have already paid tens of billions of dollars just because of the collapse of Dimei. If there is another larger Washington Mutual Benefit, then this institution that did not need government funding before is afraid It also requires government funding to fill the holes.
For those people in Hua Peanut Tun, of course, it is best to separate this part and hand it over to a large stable bank.
"Can you guess how much Xiao Mo and the others are going to bid?" The deputy asked and replied again, "They said that the maximum amount was only $1.9 billion."
"1.9 billion?" As an outsider, Su Shiming couldn't calm down either.
He probably knows the size of Mutual Bank's commercial bank subsidiary, which includes more than 5,000 branches all over the country. How do you calculate the assets? There must be 100 billion US dollars, only 1.9 billion?
Although Xiaomo must also guarantee the deposits of those over 10 million depositors, no matter how it counts, it is a cost-effective business, because it means that they have directly added more than 10 million customers.
How can you sell so cheaply?
The point is that it sells so cheaply at such times.
Because, it is very likely that in a week or two, the rescue plan will be passed and the crisis will be resolved.
Damn the White House, **** Congress, **** the Treasury, **** the Federal Reserve, **** the Federal Deposit Insurance Corporation... how can you do this?
Looking at the bright lights outside the window, Su Shiming's heart was as cold as ice.
If we don't compromise on Goldman Sachs and Feng Yiping, can we hold it?
"Wait, wait until tomorrow," he said, his voice hoarse.
…………
The next day, early Thursday morning, this news has become an open secret, and before the opening of the market, the Federal Deposit Insurance Corporation and the Federal Reserve announced the news.
They also announced that Xiao Mo took over Mutual Bank’s commercial banking subsidiary at a cost, as Su Shiming knew, US$1.9 billion!
and only need to guarantee the deposits of reciprocal depositors, without burdening reciprocal debts.
As soon as the news came out, the market was in an uproar.
And this news completely dispelled the trace of luck in Su Shiming's heart. When the rescue was in full swing, they could really do something to let such a large bank fail.
Bad news always followed. At noon, another heavy news spread quickly. Under the supervision of regulatory agencies, although the scale of the outlets is not as large as the mutual bank, the assets are higher, with total assets exceeding US$500 billion. Midland, a commercial bank, capital management, asset management, and corporate and investment bank, is in contact with Citigroup to discuss mergers and acquisitions.
It is said that in order to protect the interests of depositors, the Federal Deposit Insurance Corporation hopes to use the same plan to transfer Midland's commercial banking business to Citi, and the price of this part is also only about 2 billion US dollars!
Regardless of whether the final agreed price is above or below 2 billion US dollars, Su Shiming knows that Midland will also fall.
At this point, he no longer has any hesitation, and immediately called Lauder himself, very enthusiastic, "Hehe, Lauder..."
…………
Silicon Valley, Feng Yiping is attending a YouTube conference, smiling like a Maitreya Buddha.
But not only Ma Ling, all the participants, including many people who have met Feng Yiping in the park, knew that he was in a good mood now.
Because when I see him, his smile is always brighter than the sun, and it is warmer.
Who made his harvest so rich this autumn?
Android finally got a large-scale application ~www.wuxiaspot.com~ and the response was particularly good.
Tesla, which has been in research and development for many years, finally launched its first complete vehicle, which also received widespread praise and recognition.
Just because the date of mass production is still uncertain, they do not accept reservations at present, otherwise, Tesla will receive a deposit of hundreds of millions of dollars casually.
Because of the participation of the π department, the development process of many products of Magic Workshop has been greatly accelerated, and the two products that have been launched have been in the limelight.
Of course, I have to say that because he knows the trend of international crude oil prices, the current declining oil prices have provided him with a steady stream of returns.
There are also successful shares in Bloomberg and Goldman Sachs... and, Sun Zhengyi, who has been veiled behind him, was brought into a huge pit by him.
So that in the past two days, he had some urge to yell "I love you" into the sky like Collins.
When he saw the caller ID on the mobile phone that Wu Qian handed over, he immediately knew that this was probably good news again. Sure enough, Raul German excitedly said, "Feng, Su Shiming just called me, haha, That guy bowed his head!"
"You guys did a good job," Feng Yiping tried his best to put on a calm look, but the raised eyebrows perfectly betrayed him.
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