"But if this continues, the entire market will collapse." the assistant said cautiously.
"If it collapses, just collapse. This is what we expected, and we have chosen to sacrifice a bank as the price to calm Li Jin's anger, right?"
The president of Morgan Bank seemed to be smiling but not smiling, with a very strange expression.
It's a bit schadenfreude, but also a bit complicated and inexplicable.
"I didn't expect that there would come a time when we would have to sacrifice ourselves to appease the enemy's anger."
The first person to bear the brunt of the collapse of the secondary market was Leiman Investment Bank, which had accumulated a large amount of assets in the secondary market and was unable to escape because of being locked in at a high level.
Today's Leiman Investment Bank has long since changed.
The person sitting in the chairman's office is no longer Doug, but Li Bancheng.
At this moment, Li Bancheng's expression was gloomy and he was listening to Li Kai's report.
"Dad, if the market continues like this, Leiman's net asset value will get lower and lower, and in contrast, our liabilities will get higher and higher."
"I have seen the financial reports of investment banks. The entire investment bank has tens of billions of dollars trapped in the secondary market and cannot be solved. The accumulated cost of this fund alone is a huge burden!"
"What's even more exaggerated is that nearly a quarter of the credit products were purchased when market prices were at their highest. Now there is still at least one year before maturity, but their value has shrunk by as much as 70%.
."
"In other words, these assets have caused us to lose more than US$6 billion so far."
Li Kai became more and more frightened as he spoke. He gritted his teeth and continued: "Once these credit products are completely turned into waste paper by Li Jin, the debt of tens of billions of dollars alone will be enough to bring us down."
Li Bancheng had an expressionless face and said calmly: "I have transferred 20 billion Hong Kong dollars from Huanghe Industrial. I will use this money to deliver Leiman's high-priced contracts in the secondary market first. I will think of other ways later."
Li Kai was stunned for a moment.
My family knows their own affairs.
In order to buy Leiman Investment Bank, their father and son had basically emptied their entire family fortune.
And where did this 20 billion fall from?
"Dad, you?"
Before Li Kai could finish asking, Li Bancheng said: "I used the family's trust fund as collateral."
Li Kai's heart trembled and he said: "This is our last retreat."
"Ah Kai."
Li Bancheng raised his head and looked at his son and said seriously: "Many times, we cannot leave ourselves a way out. Only by burning the boat can we get a chance to survive in a desperate situation."
"Dad, what does this mean? Have we reached this point?" Li Kai asked in a panic.
Li Bancheng did not answer immediately. Instead, he took out a few documents from the drawer and threw them in front of Li Kai. He said, "Take a look and you will know after reading them."
Li Kai looked at the seemingly ordinary documents and suddenly had a premonition that something bad was going to happen.
Suppressing his inner uneasiness, he picked up one of them and opened it.
"Douglas Bank of Florida Bankruptcy Claim Form."
"Arizona Angel Bank Bankruptcy Claim Form."
"Maine Shield Bank Bankruptcy Claim Form."
Li Kai's brain was almost boiling when he saw the bank bankruptcy claim forms one after another.
"What the hell is going on!? These banks have all agreed on a time to collapse together!?"
Li Kai is not a fool. It can be seen from the application date that these banks, which have been insolvent for a long time, just endured it. After his father and son bought Leiman Investment Bank, they immediately filed for bankruptcy claims.
If this wasn't a trap, he wouldn't believe it even if I beat him to death.
"You can see it too."
Li Bancheng's tone still had no ups and downs, and he continued: "We may have fallen into a carefully designed trap."
"The claim amount from these three banks alone is as high as 74 million US dollars. Dad, if this continues, let alone Lei Man, this insurance contract alone will be enough to suck our blood!"