This kind of party is like this, in fact, it is mainly a place to socialize, no, Li Feng began to get to know people from all walks of life and expand his network resources in the United States.

Today's Li Feng naturally has the qualifications that no one can underestimate, and in the same way, watching the young man who has just turned 18 in front of him talking and laughing with himself still provokes a group of old guys to look sideways, which is really too conspicuous.

It is estimated that they are all feeling in their hearts, why can't the descendants of their own family produce such a character. After all, whether it is many bigwigs before or a group of Wall Street bigwigs now, this group of people is considered old, and the younger ones are at least 4 or 50 years old, and the older ones are all 7, 80 or even close to 90.

When you are older, you still have to run your own family business, not because you don't have outstanding descendants, if your children and grandchildren have outstanding abilities, it is estimated that the old guys would have let them inherit the business a long time ago.

It's really that the children and grandchildren can't do anything, so they can only let a group of old guys come out to support it, and it's no wonder that a group of old guys are envious, jealous and hateful to Li Feng, and even fantasize that if their sons and grandsons have half of St. John Lee's ability, then they can enjoy their old age in peace.

Now that he has taken over PNC's stake in BlackRock, it can be regarded as officially entering Wall Street, and he is really a big man on Wall Street today, and BlackRock controls hundreds of billions of dollars in assets, which can be regarded as a small success.

Larry Fink pulled Li Feng over to get acquainted with everyone on Wall Street, obviously to expand his network on Wall Street, and Li Feng also had an attitude of making friends with him, so Li Feng chatted very happily with several big bulls.

……

What kind of people did Larry Fink introduce to himself this time, not to mention Fidelity Investment, the financial investment group that can be compared with BlackRock in later generations, controls assets in trillions, and others such as Bridgewater Fund, known as the first hedge fund, Blackstone Group, the world's first alternative asset management group, etc., are all in the presence of Wall Street.

Today's U.S. financial industry is in the midst of unprecedented changes, since the establishment of the Glass Steagall Act in the banking industry in the 30s, the U.S. financial giants have suffered a heavy blow, the most well-known is naturally the core of the Morgan consortium Morgan Bank was split in two, becoming today's JP Morgan Bank and Morgan Stanley.

The former is a commercial bank, the latter is an investment bank, and the Glasssteagall Act is also known as the Antitrust Act of the American Financial Bank, which stipulates that financial bank holding groups cannot operate commercial banks and investment banks at the same time, and the two are completely separated.

With the passage of time, the implementation of the law has led to a sharp decline in the profits of commercial banks, and non-bank corporate groups have invaded the lending business of commercial banks, which is not in line with the financial development situation and is the main obstacle for banks to expand into other financial fields.

In the 80s, it began to encounter opposition from many commercial banks, and as early as 88 years, it tried to repeal the banking anti-monopoly law for the first time, although it was unsuccessful, but it increased the proportion of investment banks in commercial banks to a higher and higher level.

From the initial complete separation to the increasing proportion of investment banks in the holding banking group, from 5% to 25% to 50% today, especially this year's merger between Citibank and Travelers Group, Citigroup once again became the first financial group in the United States to integrate all financial products, and the bill is effectively extinguished.

……

This time, Li Feng befriended all the bigwigs on Wall Street, and finally talked about the current financial industry in the United States, and the monopoly law closely related to the financial banking industry was naturally the focus, and after a while, he talked about the government's possible abolition of the anti-monopoly bill, which was closely related to himself.

"It is true that the Glasssteagall Act played an important role in the recovery of the American economy, the regulation of the financial and banking industry, and so on, but as time goes by, it is true that the bill is becoming less and less applicable to today's era, and it is time for radical change. Paul Walker, the former Fed bigwig, said with a smile.

"Paul, are you sure, guys, in this way, should we celebrate, I think the spring of the financial banking industry in the United States has come again. ”

"What is still uncertain, the current banking merger wave, and the merger of Citi and Traveler in the first half of this year, does this show that the Glasssteagall Act has died in name only!"

"yes, damn Glasssteagall, I think it's time for it to be completely finished. ”

"The new century is a new situation, and this is good news for all of us. ”

“…”

"It's a pity that JP Morgan and Morgan Stanley's big guys can't see this day, which is a day they never dreamed of. ”

Bloomberg, the Wall Street bigwig, interjected with a smile at this time, making everyone speechless for a while.

"Uh..."

"Hehe..."

"Haha... , really...!"

……

Speaking of Bloomberg's last words, when the Glasssteagall Act was established, the core of the final famous Morgan consortium - Morgan Bank was forced to split in two, and in the end Morgan Bank could only choose between commercial banks and investment banks, and the Morgan consortium chose to retain Morgan Bank's commercial bank, which is now JP Morgan Bank.

Unexpectedly, Morgan Stanley's development is faster than that of commercial banks, and the investment banks that were spun off have become the new bigwigs on Wall Street.

The time is ripe for this day, but unfortunately, it is almost impossible for JP Morgan and Morgan Stanley to re-merge into the Morgan Group, after all, Morgan Stanley's Morgan family shares are almost gone.

And Wall Street, by all accounts, would not want another institution like JPMorgan Bank. It's no wonder that Michael Bloomberg's joke at the end made everyone laugh and be speechless for a while.

It can be said that Citi is the first bird on Wall Street to Washington, and the five major investment banks that Wall Street has called for the wind and rain have declined one after another, in addition to the fact that the investment banks' ability to resist financial risks is weaker than that of commercial banks, there is also no new natural adjustment of Wall Street itself to the abolished financial anti-monopoly law.

In the 90s, the assets controlled by large financial institutions were still at most 100 billion yuan, but at the beginning of the new century, many large financial institutions have rapidly entered the trillion ranks through the merger and reorganization of various parties.

Ten years after the new century, the assets controlled by financial institutions such as BlackRock and Fidelity have crossed into trillions of dollars in assets and are moving towards the order of magnitude of 10 trillion.

……

As a reborn person, Li Feng is now on the side of Wall Street, and he is even more closely related to it.

Thinking of the scale of those super financial giants in later generations, and then thinking about the changes in the financial banking industry since the 8th and 90s, Li Feng can only feel in his heart that his CSCB cannot be left behind.