Lehman loses lifeline from Britain.
This allowed Fang Zhuo to put down his last worries.
The economic downturn is not easy for anyone. Barclays Bank, please don't cause trouble.
Due to the time difference, in order to spend the last long time with Lehman, Fang Zhuo, accompanied by Huo Qigang, appeared at the Christie's auction house in Hong Kong on the weekend night, and spent 15 million to buy a painting of Wen Zhengming's "South China Sutra" in small regular script.
Later, he even appreciated the original work of Huizong of the Song Dynasty, "The Calligraphy of the Virgin Mary of Lintang Huaisu" that the Huo family specially invited from their friends. This is a copy of the calligraphy of the great calligrapher Huaisu by Song Huizong. It was auctioned in April this year. A sky-high price of HK$128 million.
Fang Zhuo really likes calligraphy.
When this love was expressed beyond words, "Lin Tang Huai Su's Mother's Notes" became a favor and was transferred at the original price.
Fang Zhuo hesitated for a while, but he still felt that it was enough to satisfy his eyesight.
Although Huo Qigang is a young man from the Huo family, he has socialized with him before, and they met frequently during the Beijing Olympics in August. He also has a girlfriend who is an Olympic champion, so communication with each other is more casual.
He could tell that Mr. Fang was really tempted, the kind of person who just bought it after saying it.
"Mr. Fang, if you regret it, I can still go in and help you take it out." Huo Qigang was still talking about this when he saw Mr. Fang out of the house.
Fang Zhuo sighed: "Oh, I really like it, but I have a principle when it comes to shopping."
Huo Qigang listened curiously.
"When the time I spent hesitating was not enough for me to earn the money to buy something, I would not buy it." Fang Zhuo was not without regrets. "Lin Tang Huai Su's Mother's Calligraphy" is clear, elegant and smart. It is really a treasure of calligraphy and is rare. .
Huo Qigang never expected that it would be such a measure. If he wasted Mr. Fang's time, a sports car would disappear.
Fang Zhuo glanced at Huo Qigang a little sadly. Maybe if he had seen this word a day or two later, the result would have been completely different.
Huo Qigang put aside the slightly weird feeling in his heart and made a joke that he never thought he could make with the richest man in the mainland: "Mr. Fang, that guy makes good money, and there will be opportunities in the future."
Fang Zhuo laughed loudly and said with emotion: "Yes, we still have to work harder to make money."
The car has arrived.
He said goodbye: "I am satisfied that I can see the authentic works of Emperor Huizong of the Song Dynasty tonight. If you have time, come to my place in Shencheng as a guest."
Huo Qigang responded and waved goodbye to Mr. Fang.
Fang Zhuo, who got in the car, was still thinking about the calligraphy treasures in his heart. He had been waiting for the latest information compiled by his secretary for a long time.
He flipped through it casually, but still struggled in various ways.
However, the reason why the acquisition of the British bank Barclays was rejected is also the reason for the concerns of various Wall Street institutions. If you step in to save Lehman at this time, is your own safety safe enough?
Even if one Rayman is saved, will there be Fengman, Yuman, or Dianman behind?
And, is there a great risk that financial markets with increasing turmoil will be ignited by "Taman"?
In the first half of this year, the unprecedented CDS termination reduced CDS trading volume by US$17.4 trillion, and American International Group, a large US insurance company, has been holding a large number of CDS positions, making various institutions extremely worried about CDS risk exposure.
The information in Fang Zhuo's hands came from different sources, including the New York Stock Exchange, the Big Short, and the MIGA Fund, all of which used different data and reasons to look down on Lehman's final struggle at this time.
This can be regarded as a small microcosm of market confidence.
Fang Zhuo was running through various financial data and analysis judgments in his mind along the way, but as he approached the hotel, he considered the deeper impact of economic changes.
It's September now, and the situation of this year's election in the United States has been laid out. It's either a Republican McCain or a democratic Olympics.
Although O'Brien defeated Hillary Clinton, he still trails McCain in this month's polls.
At this time, the turmoil caused by Lehman's death will undoubtedly intensify people's expectations for "change."
It is worth mentioning that McCain admitted during the pre-election that he did not understand the economy very well. He relied on his richer political experience. The economic team was Greenspan, whose reputation has been reduced. He complained that the public lacked confidence in the economy and resigned because of it.
Gram is Fiorina, the female CEO of Hewlett-Packard - the CEO who openly said on TV that McCain can be the boss but is not good at being a big company has also disappeared.
Xiao O's economic advisers... Rubin and Summers, who contributed to the economic prosperity during the Clinton era, and former Federal Reserve Chairman Paul Volcker, who have been fully recognized for their anti-inflation achievements in the last era,
They can all be called economists.
In addition, Fang Zhuo is very sure that Geithner is also a member of O'Neill, and Paulson on the stage has a lot to do with these names.
If Lehman hadn't died at this point in September, could Xiao Ao have successfully counterattacked and debuted in November?
Fang Zhuo thought about this problem and felt that it was a factor to some extent. As for what kind of smooth flow and taking advantage of the situation, it would be difficult to piece together the outline.
He just suddenly had a deeper understanding of "the economic base determines the superstructure".
"I found that being able to make money is a really valuable skill."
Seeing the hotel, Fang Zhuo put down the documents and thoughts in his mind and let out a sigh.
Secretary Liu Zonghong heard the boss's sudden voice and echoed with some surprise: "Of course, Mr. Fang."
Fang Zhuo smiled and said, "Did Austin call?"
Liu Zonghong shook his head and said: "No."
I don’t know whether Geithner suddenly felt unwell or fell into a more busy state. After the previous hung up call, not only him, but also Austin, his spokesman who is keen on conveying front-line news, also stopped moving.
Fang Zhuo doesn't have any extra worries about this. In the next period of time, making money is a valuable ability, and having money is also a rare resource.
Geithner had previously had good ideas about Lehman's toxic assets.
With this change in the situation, I will soon have the opportunity to help with money to detoxify.
"Don't disturb me before noon tomorrow. I want to study Wen Zhengming's calligraphy." Fang Zhuo calculated the time difference between the two places and told his secretary.
Liu Zonghong knew what his boss was waiting for, so he just nodded silently.
The night is dark.
I don’t know how much information is being transmitted around the world, and how many people are in panic, anger, and fear.
When a new day arrived in Hong Kong, the head of Lehman stood at the door of the Lehman headquarters building at 1 o'clock in the morning on the 15th in New York. Facing the media who arrived, he announced the board of directors' resolution. Lehman Brothers Investment Company reported to the federal government File for Chapter 11 bankruptcy protection.
From this moment on, Lehman became the largest investment bank bankruptcy in U.S. history.
Shocking news has the world buzzing!
Because it was still early morning in the U.S. time, it was China A that was in the afternoon and gave an immediate response.
Big A plummeted 4.5%, approaching 2000 points... Huh?
2000 points mark??
That’s right, before the financial crisis caused by Lehman hit, Big A had already almost fallen due to the global economic situation.
Last year, Big A once reached 6124 points. This year, it reached the highest point of 5499 points in January. Then it fell all the way, breaking 5, looking at 4, and looking at 3 to 2.
Even if a financial crisis breaks out, it will only fall by a few hundred points at most.
In contrast, Hong Kong stocks, which fluctuated with the US stocks, plummeted 6%, making various institutions howl!
Lehman files for bankruptcy!
The US authorities did not come up with a solution! They just sat back and watched Lehman go bankrupt!
From south to north, from west to east, Fuld's official announcement shattered the general belief that the U.S. government would not let it go! Market concerns have intensified extremely! All major rating agencies have begun to evaluate this unexpected incident. !
Fang Zhuo, who was in Xiangjiang, could no longer appreciate Wen Zhengming's calligraphy.
He carefully put away the words and began to work on Lehman's bankruptcy filing.
Kong Yu’s call was the first to come in after the official announcement. It was still early in the morning over there and he was not going to sleep tonight. Lehman’s wave was not only within the consistent short-selling logic, but it also came to an unexpected end. The step of bankruptcy.
The MIGA fund has finished investing in Fannie and Freddie, while Lehman is waiting until the end.
Kong Yu implored his boss to consider whether he could fly to the United States.
He is both making money and being afraid. Although he has used various nesting methods, mortgage guarantees, and customer relationships to cover up the direction of funds, it is difficult to penetrate the relationship between different companies and funds, but the scale involved is too large and there is really no sense of security.
"Don't worry, your clients will protect you." Fang Zhuo is sure of this. Moreover, everyone is now busy dealing with the impact of Lehman's bankruptcy, as well as those who are like John Paul on the surface. Sen's short-selling fund is blocking it, and the little bit gained by the MIGA fund will not attract too much attention.
He added: "After a few days of stability, I will go to the United States. Let's see what happens first."
There is a time difference between Xiangjiang and the United States, so sometimes it is really inconvenient. It is better to go to the scene in person, so as not to miss the opportunity to be a vulture.
Kong Yu took a deep breath. The boss is not afraid of danger, right?
The call with Kong Yu ended, and soon I received a call from Geithner.
Calculating the time, Geithner's indifference lasted for a full 32 hours, which is really not short.
His call was very simple and had only one purpose, which was to get Mr. Fang to come to the United States.
Fang Zhuo used the same rhetoric even when facing Geithner - let's see what happens first.
What will happen...
On September 15, New York time, the Dow Jones Industrial Index plummeted by more than 500 points, a drop of more than 4.4%. Other stock markets around the world were also affected by the decline.
Soon, all major rating agencies downgraded the credit ratings of American International Group AIG, which held large CDS positions. These downgrades triggered large collateral requirements from counterparties in AIG's financial products unit and led to the early termination of additional contracts.
A storm sweeping the world is inevitable.
Fang Zhuo didn't sleep well at night in Xiangjiang and received frequent calls from different directions.
By the time the U.S. stock market experienced the first round of shocks, it was already the morning of the next day here in Xiangjiang.
Fang Zhuo was eating breakfast and thinking about his itinerary.
At 7 o'clock, a call came in from Luo Jianhua, the head of Qimonda.
"Mr. Fang, Mr. Fang." Luo Jianhua's tone was more anxious, "I don't know what happened to Mr. Xiong. All the previously negotiated conditions were overturned, saying that there was no need to talk anymore! Isn't this a trick on us, Qimonda?
!”
"Can you communicate with Mr. Xiong? Everything can be easily discussed!"
"We are in urgent need of funds right now, Mr. Fang, can you help save the money first?"
Luo Jianhua's series of words included both a ruthless accusation against Xiong Xiaoge and a desperate call for help.
Fang Zhuo sighed, why did this old bear react so quickly? How come Mr. Luo was so aware of the impact of Lehman's bankruptcy?
He said slowly: "Mr. Luo, Lehman went bankrupt, the stock market plummeted, and the economy declined. It is understandable that Mr. Xiong would overturn cooperation. I also have to evaluate the operation of all funds. I really can't get the money out."
"Mr. Fang! We all agreed!" Luo Jianhua couldn't help but growl in his voice, "Why are you adding insult to injury like Mr. Xiong did!"
"It's not to add insult to injury, it's because the landlord's family has no surplus food." Fang Zhuo said calmly, "You cut off the order from my Lin'an factory and defaulted on the OEM fee. Now that Lehman is bankrupt, I really can't pay, so we just
A yard’s worth a yard’s worth.”
Luo Jianhua listened to Mr. Fang's emotionless voice and the arrears of fees, the roar disappeared, and he vaguely murmured: "What should we do with Qimonda? What should we do now?"
Fang Zhuo's colder heart has not been warmed up recently. He answered the question calmly: "Mr. Luo, business is business."
Luo Jianhua hung up the phone silently and decisively. Mr. Fang was not soft-hearted at all. He couldn't waste time here and had to rush to find the next one. Lehman's bankruptcy was sudden, and the attitude of the financial parties must be cautious.
Qimonda is in danger!
Fang Zhuo did not put down his cell phone, preparing to read the comments on the Internet about Lehman's filing for bankruptcy.
But before I opened the browser, a call came in from Wei Boyun, senior vice president of Morningstar Semiconductor.
"Mr. Fang, Lehman is bankrupt. Several customers in the mainland have called and want to cut off some orders. Our stock price fell by 6% yesterday." Wei Boyun said in a helpless tone, "What should we do now?"
Morningstar Semiconductor has been in trouble since its listing. First, it suffered a break-up, then suffered a financial black swan impact, and then was canceled by a major customer.
On the first day, the market capitalization was HK$15.6 billion, but now it is less than HK$14 billion!
Once customer information is disclosed, the stock market performance will inevitably be even worse.
Fang Zhuo's colder heart has not been warmed up recently. He answered the question calmly: "Mr. Wei, business is business."
Wei Boyun: "This..."
How can you, a shareholder, say such cold words!
"I didn't cause Lehman to go bankrupt. What can I do? Customers have considered the situation and cut orders. What can I do? My own fab has been cut off. Did I ask anyone to tell me what to do?" Fang Zhuo
Emphasized, "Business matters!"
Wei Boyun reluctantly ended the call.
After a while, several more calls came in, including but not limited to loans from some unfamiliar people.
Fang Zhuo has no choice. In the current financial shock wave, everyone must be cautious and do business first.
At ten o'clock in the morning, a piece of news suddenly came from the United States.
Freescale, a world-renowned semiconductor company, announced that it will lay off 15% of its employees, and does not rule out larger layoff plans in the future.
Fang Zhuo's cold heart suddenly felt a little warmer.
what happened?
Why is Freescale so fast?
I’m not ready yet!
Lehman just declared bankruptcy yesterday, you are going to lay off 15% of your employees today!
This... Freescale, you understand the economic crisis!
This chapter has been completed!