560 Even if I jump off the building, I won’t ask Lu Fei (5k)
Lu Fei and John Paulson have a clear division of labor.
Morgan Stanley, Lehman, JPMorgan Chase and other investment banks belong to him. John Paulson, Bear Stearns, Merrill Lynch, and Goldman Sachs are the accomplices of the short-selling penguins and CDS short squeezes. Lu Fei personally greets them.
At this time, it was extremely embarrassing to meet again.
Lu Fei sat in the small private room of the Links Club with a cup of coffee in his hand, looking directly at the dark-faced Sonnier opposite.
I saw him grinning, showing his white teeth:
"Lu, you know me well. Merrill Lynch's price for CDO is the highest, and CDS is also the highest price on the market!
I dare say that no other investment bank can offer a more reasonable price than ours! Absolutely not!"
"Why should I sell it to you?"
Lu Fei put two sugar cubes into his coffee: "Can the money you pay compare with CDS's compensation of more than ten times? It can't be compared!"
He said, stirring slowly with a silver spoon, "O'Neal, you'd better give me an offer I can't refuse."
"Lu, don't you like Marvel superheroes?"
Sean O'Neill urgently needs a large number of CDS to hedge Merrill Lynch's backlog of CDOs, and tried his best to remain calm when he spoke:
"Merrill Lynch can transfer all the other IP mortgaged by Marvel to Trisolaris at a 50% discount. You only need to pay Merrill Lynch the equivalent swap contract. What do you think?"
"This is not a condition at all."
Lu Fei shook his finger: "Have you forgotten that the contract between us clearly states that once Merrill Lynch's rating is downgraded, it must pay collateral to Trisolaris. According to the terms, IPs such as Thor and Captain America
The mortgage right should belong to me!
Let me inform you now, remember to prepare for the handover."
"you!"
Signornier stood up suddenly, shocked.
When I first looked at the CDS premium, I didn't take the additional terms seriously at all. I didn't expect to dig a hole here, waiting for him!
In an instant, the surrounding guests all cast curious glances. Seeing Nico in a suit and tie lose his cool, he almost took out a gun from his arms and shot Lu Fei with a smirk on his face.
"O'Neal, sit down."
Lu Fei pressed his hand down: "Think, think again."
Sean O'Neill sighed: "Lu, just tell the truth. How do you want to sell CDS to Merrill Lynch?"
Lu Fei said lightly, Merrill Lynch was short Lehman.
"What?!"
Snow O'Neill was surprised that he let Merrill Lynch stab his ally in the back?
"I like to retaliate tooth for tooth, and repay you a hundredfold!"
Lu Fei shrugged, "Since you teamed up with Lehman to short Penguin, why can't you help me short Lehman?"
But all Wall Street veterans have flexible moral bottom lines. Sean O'Neill weighed the pros and cons and made up his mind——
Richard Fuld is my best friend and brother. If you short Lehman, you have to increase your money!
Want to talk to me about adding money?
Now you are begging me, not me begging you!
You are not qualified to stand in front of me and negotiate terms!
Lu Fei was not used to him and refused unceremoniously.
Sean O'Neill became gloomy, and his already dark face turned even darker and purple. He gritted his teeth and tried to struggle, saying not to bully others too much. It's not just you and Paulson who have CDS on the market, there are others too.
"Please."
The corner of Lu Fei's mouth curled up: "But I want to remind you that Merrill Lynch's recent acquisition of No. 1 Franklin seems to be in a similar situation to New Century Company, with a loss of more than 3 billion U.S. dollars."
Seeing the sudden change in Sean O'Neill's face, his cold tone was full of threats: "Of course, for a large company like Merrill Lynch with assets of 12 trillion U.S. dollars, 3 billion U.S. dollars is just a hair on the body, but to you
It’s different.”
"Haha, why am I different?"
Sean O'Neill took a sip of coffee to calm down.
"During the last round of financial crisis at Merrill Lynch, your large-scale layoffs had already caused dissatisfaction from the whole company. I heard John say that they all called you the 'Black Satan of Wall Street'."
Lu Fei smacked his lips and said, "Zizi, how many layoffs will be required due to the crisis caused by your aggressive advancement this time? Maybe you can prepare a statement in advance to express your sympathy for the unemployed."
"Sympathy?" Sean O'Neill frowned.
"Yes, you are about to join them."
The corners of Lu Fei's mouth turned up: "Do you think you can still find another job on Wall Street?"
"Uh uh uh……"
Snowy O'Neill was tongue-tied, feeling that his soul was immediately hit by a hundred thousand critical blows, and cold sweat was flowing down his cheeks.
"It's not easy for a Nico, a Nico with a successful career, to become the CEO of one of the top five investment banks on Wall Street, right?"
Lu Fei's joking tone was somewhat mocking.
"Gulu, Gulu~"
Signor O'Neill hurriedly drank the coffee in one gulp, and said bitterly: "Lu, please, help me!"
"We Chinese like to help our friends."
Lu Fei smiled broadly, "And he likes to turn enemies into friends. Although you instigated Merrill Lynch to go against me, I can give you a chance. O'Neal, are you willing to be my friend?"
"Yes, of course I do!"
Si O'Neill said excitedly: "Pay Ruan Ende for it!"
"But you have no respect for my friend."
Lu Fei glanced at him. He had been talking about the knife from just now to now. He didn't even say a word of "I'm sorry" to me. He was so arrogant!
"Lu, Sao Rui, I was wrong, I was really wrong."
Snow O'Neill apologized repeatedly, and at the same time vowed to abandon the dark side for the bright side, and was willing to switch sides and stab Lehman in the back.
"Very good, these are friends."
Lu Fei smiled and handed over his business card, "As a friend, I know that Merrill Lynch is short of cash right now. It just so happens that China has formed a financial syndicate that may be able to save Merrill Lynch."
"Really!"
Looking at the "CICC Financial" written on the business card, Sionnier was overjoyed: "Lu, I will immediately ask someone to hand over the mortgage rights of the remaining 8 Marvel heroes! There is also shorting Lehman. You tell me how to do it, and I will do it."
Whatever we do, Merrill Lynch will try its best to cooperate."
"cheers!"
Lu Fei drank coffee instead of wine.
Snow O'Neill cares about neither Lehman nor Merrill Lynch. He is only thinking about how to maintain his current position as Merrill Lynch's talker.
In one morning, the two parties reached a $300 million CDS deal, and good news came from John Paulson.
It is true that Wall Street’s demand for CDS is too strong.
Basically, selling dishes and CDS is also selling favors.
Coupled with the liquidation of short positions on the ABX index, the two of them pocketed US$2 billion in one day alone.
In the evening, the setting sun shines on the window table of Martha's Restaurant.
David Solomon, who was sitting opposite Lu Fei, appeared on behalf of Goldman Sachs and brought Treasury Secretary Henry Paulson to show his sincerity.
He is supporting the Goldman Sachs Group, especially because——
"Lu, are you sure you still want to short Lehman?"
"Of course, Richard turned down our offer."
Lu Fei said disapprovingly: "John wanted to invite him to dinner, but he didn't agree. If we can't be friends, then we are enemies."
"As I understand it, Richard went to Asia."
David Solomon smiled and said: "It's either neon or a stick."
"No matter where I go, I don't want to have this meal with Fuld anyway, not because of money, but because of my mood."
Lu Fei cut a piece of beef tartare dipped in caviar.
"Well said! You must retaliate tooth for tooth, blood for blood!"
Henry Paulson looked at him meaningfully, I am very happy if you can help Goldman Sachs, and I am even happier if you can help Goldman Sachs take revenge on Lehman. In short, no matter who is doing Lehman, he will definitely help the situation.
"But……"
David Solomon was in trouble. Although Lehman's stock fell by more than 30%, when the first-quarter financial report was released in a manner that was better than market expectations, with earnings of $81 per share, it promptly saved the stock price that had plummeted continuously, and it rose that day.
46%.
Lu Feidao: "I very much doubt the credibility of this report. Lehman did not fully disclose subprime-related assets."
“It is impossible for an investment bank’s core financial data to be made public, but I support your suspicion!”
David Solomon raised his glass high. It took Goldman Sachs more than two months to completely turn from long to short. Naturally, it had to strike hard at Lehman, the main force in the subprime mortgage bulls.
Moreover, there is still deep hatred!
“What about Lehman-insured CDS?”
Lu Fei clinked his glass.
"$600 million is $600 million!"
David Solomon and Henry Paulson looked at each other. Although Goldman Sachs was also selling CDS, giants like Bear Stearns, Merrill Lynch, and Lehman held most of the CDS in their hands.
Wall Street has always been "too big to fail".
Just like the thunderstorm of Evergrande Real Estate, once it declares bankruptcy, it will cause systemic risks to the entire real estate market. It may be like the subprime mortgage and the entire real estate collapse.
Therefore, even if zhengfu is not saved, he will be saved!
That’s why they were so emboldened, spawning a horrific financial bubble that combined subprime mortgages and P2P.
"As a friend, I put my words here. If Goldman Sachs encounters a stock price crisis like Lehman, you can come to me at any time."
Lu Fei said sincerely: "I will not sit back and watch my friends suffer."
"good, very good!"
Henry Paulson smiled with satisfaction and said: "Cheers!"
With a ding, the wine glass made a crisp sound.
At the harmonious dining table, the three of them looked at each other, their eyes flickering, and they almost invariably thought of -
We will drink from the golden cup together, but we will not spare each other with the white sword.
………………
April 12, Bangzi Shilla Hotel.
Richard Fuld has stayed for five whole days, waiting all the time for news from Bangzi Industrial Bank.
The world's top financial circles are only so big, and it is simply delusional to expect local banks to escape this short subprime mortgage winter.
Nowadays, everyone is in danger and thinking about how to survive.
With no choice, we can only place our hope in the East.
The reason why the first stop was Bangzi was because the president of Industrial Bank, Min Yusheng, used to be his subordinate at Lehman.
"How about it? Are there still so many protests at the door?"
He frowned and asked his secretary feebly.
"As soon as the quarterly report was released, some people dispersed, but there were still many, many people who gathered early in the morning, so the police had to suppress them."
The secretary's voice on the phone was very weak: "Richard, in order to produce eye-catching financial statements, we now rely entirely on bonds No. 105 and 108. The current cash reserves are no longer enough to fight on the third front. If the stock price continues to fall, Lei
Mann's stock will collapse and we will be screwed!"
"Min is already persuading the board of directors of Industrial Bank to buy our convertible preferred shares, which can raise US$3.5 billion!"
Richard Fuld then asked about CDO sales.
Today's CDOs have become poisonous sugar pills, and investment banks such as Lehman are trying their best to sell them to investors in Europe and Asia.
"We can't sell Goldman Sachs and Morgan Stanley in Europe."
The secretary breathed out and said: "Fortunately, the middle-class idiots in Xiangjiang are willing to inhale these toxic assets, and there are also many celebrities and businessmen who bought our accumulated options..."
"No matter how big Xiangjiang is, how big can it be!"
Richard Fuld said anxiously: "The key is the mainland!"
"No, according to reliable internal information, China's government strictly prohibits any financial institution from privately purchasing CDOs. Goldman Sachs plans to sell it to China's state-owned enterprises, but it is simply not feasible."
"Fake, it must be Lu Dao's fault!"
"Richard, I think we should agree to Lu and Paulson's invitation. If we can reconcile..."
"No way! No way!
"
Richard Fuld said angrily: "Even if I jump from the Lehman Tower, I will never bow to this bitch!"
At this moment, there was a knock on the door.
Min Yusheng and his secretary both appeared at the door, bringing good news. The Industrial Bank was secretly in contact with Bangzi Chaebol and financial groups to form a financial group to save Lehman.
"Really! Then let's go!"
Richard Fuld was so surprised that he immediately set off for the Industrial Bank of China with his fellow Lehman executives.
As soon as they entered Seoul Street, everyone in the group was dumbfounded.
The road has been blocked, and the streets are full of angry people shouting, holding candles and holding banners.
"What are they protesting about?"
Looking out the window, Richard Fuld's face was filled with confusion. Although he didn't understand what they were shouting, he still had a feeling of trepidation all over his body.
"American cow, get out!"
Min Yusheng's secretary said something coldly from the side.
Suddenly, the atmosphere in the car became awkward.
Damn it, Lu, a Chinese, just wants to deal with me!
How dare you guys be so rude to me, Zhengxingqi?
Richard Fuld's face was gloomy. According to his previous fiery temper, he had to make this secretary kneel down and admit his mistake!
Unfortunately, now, the situation is stronger than the people.
He wanted to seek help from others. Although Min Yusheng was his subordinate before, he is now Lehman's great savior.
Richard Fuld shook his head and sighed. As a Jew, he wrote down the account of his secretary, and even put the account on Lu Fei's head.
If it weren't for damn Lu Fei, I would be in such a mess!
It’s all Lu Fei’s fault!
Min Yusheng glared at his secretary, rubbed his hands, not wanting to embarrass his old employer, and explained embarrassedly that he was demonstrating.
The co-author is to resume the import of American beef. Because of the history of mad cow disease, the Line platform launched an online petition.
Unexpectedly, the anger spread from online to offline, and more than 40,000 people crowded into the streets of Seoul, all the way from Hyoja Street, Gyeongbokgung Palace, and straight to the Blue House, forcing the police to form a human wall.
In an instant, a melee broke out.
"Line?"
Richard Fuld wondered.
"Yes, it is a very, very powerful social networking site that has covered 11 countries and regions in Asia and has hundreds of millions of users. We have always wanted to invest in it, but it is a pity."
Min Yusheng sighed.
"Are there any companies that refuse your investment?"
"Of course, the founder of Line is Li Yinxin, the third lady of Samsung, and the largest shareholder behind it is Penguin!"
"penguin?!"
Richard Fuld's expression changed.
Damn it, Lu Fei, why are you everywhere!
Min Yusheng smiled and said: "But fortunately, we have found a new cooperation opportunity. Industrial Bank will join Line's online payment, called 'Caifubao', 'Tenpay'..."
"Ding Lingling, Ding Lingling~"
Just when the traffic was heavy, Richard Fuld received a call from the vice president of Lehman. He was in a panic and urgent——
Traders such as Merrill Lynch, Goldman Sachs, and Morgan Stanley are spreading rumors that Bleiman has falsified his financial reports.
They even cooperated with Lu Fei and John Paulson to short Lehman. Many small and medium-sized funds, such as Greenlight Capital, immediately followed the footsteps of the "god of short-selling" and "god of investment".
Whoever wins, who do they help?
There is a strong tendency to fight until Lehman is overthrown!
"Watt! Falk!"
Richard Fuld completely broke his guard and cursed loudly.
We are from the same roots, so why are you so anxious about fighting each other? They are both global giants of Jewish origin. You don't help your own people, but you all help Lu Fei?
A Chinese?
"Richard, has Industrial Bank agreed to buy my Lehman shares? We need money! We need to save the stock price!"
Listening to the shouts of the vice president, Richard Fuld couldn't sit still at all. The Industrial Bank of China is now the savior.
As if I was in jail, I finally arrived at the bank by car.
However, what made his heart instantly freeze was that the Industrial Bank’s plan was almost exactly the same as that given by China CITIC——
I don't care about worthless stocks at all.
You can ask for money, but you have to exchange it for high-quality assets!
For example, 20% of Bloomberg.
"Min, didn't you say you would buy Lehman shares?"
Richard Fuld's eyes were wide open and he was full of anger.
"There's nothing I can do."
Min Yusheng smiled bitterly.
"You are the president, why can't you do anything?"
In Richard Fuld's eager eyes, he looked forward to his old subordinate and now savior being able to show mercy.
"Sauri, I can't decide whether to buy assets or stocks. This is the collective will of the financial group."
Min Yusheng's face was full of helplessness, "Unless you can convince the bank that proposed this proposal to change their mind."
"which bank!"
"Industrial Bank and Hansung Bank."
"Then you hurry up and make an appointment with their bank manager..."
"It is useless to invite them. We must invite Chairman Li Jianxi or Ms. Li Fuzhen."
Min Yushengzhi said that the biggest backer behind the two companies is Samsung, and about half of the financial group has joined Caifubao, the online payment network woven by Tenpay.
"This this……"
Richard Fuld couldn't help falling silent.
Lehman needs money, but as a last resort, this money must not be exchanged for valuable assets. Even if it is exchanged, it will not be from Bangzi's financial group, but from a banking group established by China.
The price offered is higher!
Opening conditions are better!
Somehow, he seemed to be forced to sell it to China at a low price.
Isn't this too much of a coincidence?
"Sauri, I'm sorry."
Min Yusheng felt like a light was shining on his back, and he didn't know how to deal with it.
"American cow, get out!"
Accompanied by the roar of the parade, Richard Fuld's face twitched, full of pain and disappointment:
"Tell Paulson that I will treat them to dinner when I return to China."
them?
Whether it was Min Yusheng or the Lehman executives, they all thought of the same person. Perhaps not saying the name "Lu Fei" was Richard Fuld's last stubbornness.
