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    Rebirth of an Industrial Empire 843_Read the full text of Rebirth of an Industrial Empire for free_Chapter 843: Partition from

    It¡¯s a pity that things got messed up in the end. The Koreans actually got into trouble at the last moment of the negotiations. Now Lehman was having a lot of fun.  //Baidu search to see the latest chapter//

    As early as August, after Morgan announced that it would no longer provide loans to Lehman Brothers, the situation at Lehman has not been very good, but Lehman is also a century-old store after all, and they have many other relationships, especially their  overseas relations.

    You must know that among the five major investment banks, Lehman has the most overseas relationships, especially in Asia. South Korea and Japan are both important supports for Lehman Brothers.

    So the top management of Lehman Brothers was not particularly worried at that time. They still had many allies in Asia. Even if they could not get money from the United States, they could still convince their allies in Asia and get a lot of financing through them.

    "It's a pity that their Asian allies are not strong this time. The Koreans are on both sides of the fence. They first agreed to them but then went back on their word. This made Lehman's side confused.

    After negotiations with the Korea Development Bank broke down on September 9, Lehman's stock plummeted on the stock market. It plummeted 45% from $14.15 to $7.79 that day, setting a new record in the stock market.  The company's latest single-day plunge.

    On the 11th, after a weekend, after the U.S. stock market opened, Lehman's stock continued their plummeting journey. It fell 42% that day and ended at $3.65. Think back to the time in 2000 when their stock price dropped.  The stock price is still at a high of one hundred dollars, and even a year ago, their stock price was still as high as $67.73 per share, but now compared to a year ago, their stock price has plummeted 95%.  Eight and a half lives have been lost, and only one breath left is still lingering.

    Even at this time, Lehman still believed that the U.S. government would never turn a blind eye to their misery, and was still having meetings with senior officials in Washington and Wall Street.

    As a result, by Friday, Lehman's stock was already in decline on the market. In just one week, its market value had evaporated by more than 10 billion, while other senior officials in Washington and Wall Street were acting indifferently.  He didn't even mention the idea of ??injecting capital to rescue the market.

    It was only then that many senior executives at Lehman understood.  The relationship itself had been sold by the Federal Reserve and other senior executives on Wall Street, so they had to bite the bullet and file for bankruptcy protection that day.

    Lehman Brothers filed for bankruptcy, which suddenly panicked the political and economic circles in the United States, except of course those with inside information.  But after the initial panic, everyone naturally accepted this fact.

    Bernanke, the head of the Federal Reserve, revealed his face and attended a press conference, saying that the U.S. economy still had a long way to go and that Lehman Brothers' filing for bankruptcy was inevitable. The government had no intention of wasting taxpayers' money on a company that was not worth it.  The same goes for the company that was saved.

    ? And many companies such as Morgan squeezed out a few crocodile tears.  He expressed regret for the mistakes made by his former little brothers, and once again expressed concern about the prospects of the US economy.

    At the same time, AIG also applied for a US$40 billion aid grant from the Federal Reserve, which immediately shut up other countries.

    After waiting for a few more days, Lehman Brothers announced that the company's total assets were US$639 billion, but the company's liabilities had reached US$613 billion. Taking into account various other expenses, the company was now insolvent.  So the company announced a formal filing for bankruptcy protection. At the same time, they also took Morgan to court, accusing Morgan of embezzling a healthy asset worth a total of US$9 billion in their bank in Baltimore.  However, after the complaint was submitted, it did not cause any waves. The U.S. High Court announced that it had accepted the lawsuit, but it did not cause any waves on Wall Street and other news media. Lehman Brothers' counterattack seemed very weak.  .  .

    At this time, Lehman's major creditors also showed up one after another to collect debts. Suddenly Lehman Brothers seemed to be in a state of distress and had no intention of litigating with Morgan.

    While Lehman was struggling, Jin Xiaoqiang was drinking and chatting with a group of Wall Street executives in New York. Today is a good day, and everyone is in a happy mood.  Today is a good day.  .  .

    This may be the festive song that best expresses Jin Xiaoqiang's mood in the past two days. A behemoth like Lehman fell to the ground so easily under the play of several major consortiums. This gave Jin Xiaoqiang a glimpse of the United States.  The power of big conglomerates.

    ??Actually, despite the media hype surrounding Lehman¡¯s collapse, it was actually very concerning to the domestic financial community in the United States.  In fact, the losses were not huge. The most serious losses were actually those creditors in Asia who invested in Lehman bonds.

      You must know that Lehman announced that its assets are US$639 billion, but Lehman is an investment bank, not a savings bank, so most of its assets are bonds issued by them and derivatives of bonds.

    Moreover, most of Lehman's customers are in Asia and Europe, but in the United States, their creditors are not particularly large. Therefore, for the United States, the collapse of Lehman will only lose their national credit.  In terms of real money, their losses were actually not very large.

    But the most serious losses this time were undoubtedly the United Kingdom, Japan, South Korea, Thailand and China.

    Many banks in the UK have always had a close relationship with Lehman. Lehman Brothers also has considerable influence in Europe, not to mention Japan and South Korea.

    Lehman has always had a close relationship with the Korea Development Bank, and the Korea Development Bank is still one of their shareholders and creditors. This time, the Korea Development Bank suffered a lot when Lehman collapsed.

    The relationship between Lehman and Japan is even more profound. As early as 1905, Lehman was the first agent to underwrite Japanese bonds. During the great earthquake in Japan in 1925, Lehman even helped Japan sell bonds in the United States.  purchased 150 million Japanese government bonds.

    Later, they even formed alliances with consortiums such as Mitsubishi. Therefore, the collapse of Lehman had a considerable impact on Japan. Especially large consortiums like Mitsubishi were severely hit. You must know that they are Lehman's major creditors.  .

    And it¡¯s even worse in China. Bank of China invested 50 million Lehman in unsecured bonds, China Merchants Bank invested 70 million US dollars, and ICBC invested.  .  .  .

    These are all Lehman's creditors, as well as Lehman's financing projects in China. Now that they have announced their bankruptcy, these creditors are the most unlucky. According to preliminary estimates, just the collapse of Lehman  The major banking companies in China suffered direct losses of more than 3 billion U.S. dollars, and indirect losses of more than 30 billion U.S. dollars.  .  .

    Jin Xiaoqiang didn't know about these relationships earlier. These were all told to him by Morgan later. Although he felt a little guilty, he quickly put them behind him, even if he was not involved in this matter.  , in the end, people like Morgan will do it. If they participate in it, they can help China recover a sum of money from the collapse of Lehman. After all, the money they make from Lehman will still come back to China.  use.  .  .

    Lehman fell to the ground like this, but it really made Asian and European countries very angry, because these countries were all big creditors of Lehman's 613 billion debt. How could the Americans let Lehman fail like this?  Isn¡¯t it very disrespectful to the country¡¯s credibility?

    Originally, everyone wanted to ask the US government for an explanation, but as soon as the news came out that AIG was asking for 40 billion in aid from the Federal Reserve, everyone immediately shut down.

    AIG American International Insurance Company has business in other countries around the world, especially in Europe and Asia. They have a lot of business and many projects.

    For example, in Tianchao, he has had projects involving insurance, finance, and investment in seven major cities including Puhai, Jingcheng, and Yangcheng. After more than ten years of operation, their various business management skills in Tianchao are hundreds of years old.  billion.

    And in other parts of the world, they also have many such projects. You must know that this is a behemoth with a market value of up to 1.05 trillion US dollars.

    Now that they are asking for $40 billion in aid from the Federal Reserve, they are sending a signal to other governments around the world that Lehman's account is going to be held up. If you dare to ask for the account, I will make AIG bankrupt immediately.

    Jin Xiaoqiang doesn¡¯t know what the consequences will be if AIG goes bankrupt elsewhere, but as a Chinese person, he knows that China¡¯s stock market will definitely be directly destroyed.

    And the situation in other countries around the world is not the same, so everyone can only hold their noses and admit it. If Lehman collapses, it will collapse. Everyone has nothing to say, and what they say is in vain.

    As for the money that was stolen by Lehman in the past, we can only accept it with a blank stare!

    The excitement on Lehman's side was mainly due to the rush to find a new home. Barclays and Lehman were originally in good talks, but in the blink of an eye, the U.S. government was unwilling to give the green light to Barclays' acquisition.  Barclays acquired credit guarantees for Lehman.  .  .

    The Wall Street consortium is really aloof and ruthless, and it stopped Barclays from acquiring Lehman in one fell swoop.

    ¡°And the U.S. government is also demanding a sky-high price. Barclays wants to acquire Lehman, but you have to help Lehman repay the US$44.5 billion in aid it owed us. Isn¡¯t this nonsense?

    Which bank is willing to carry the burden?

    So the sensational news that Barclays took over Lehman quickly sank in. In this life, they are facing more stringent conditions than in the previous life. SuchThe conditions are undoubtedly unacceptable to the Red Shield family.

    And just a few days later, in a very inconspicuous corner of the Wall Street Journal, a piece of news appeared. Thunderbird will accept Lehman Brothers' investment banking business in North America for US$1.75 billion. It is reported that  Thunderbird Ventures will acquire Lehman's North American investment banking business for $250 million in cash, and will also acquire Lehman's headquarters and two data analysis centers in Manhattan for $1.5 billion.  .  .

    Rebirth of an Industrial Empire 843_Read the full text of Rebirth of an Industrial Empire for free_Chapter 843: The partition update is complete!

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