Chapter 506: Detroit Bankruptcy (Happy Birthday)

The resurgence of Black Monday has not only caused the stock markets of these countries to be hit hard, but also caused several smaller investment banks to collapse and go bankrupt.

In addition to evaporating more than half of the assets in the hands of most shareholders, the most worrying thing for the United States happened when the stock market reopened on Friday.

"Dangdang!"

On this day, the stock exchange on Wall Street rang the bell for a new round of listings.

After a week-long stock market crash, premised on the massive injection of funds by the Federal Reserve of the United States and the listing of several promising technology and industrial stocks on Friday, all the top executives of the United States who do not want the stock market to collapse intend to use Friday as an opportunity to recover the decline of the stock market downturn.

After all, if the stock market is evaporated like this, it is not just the numbers on the books that will be lost.

The assets in the hands of the people have shrunk sharply, a large number of middle-class people have gone bankrupt to the sea, coupled with the soaring prices and housing prices, it is very likely that the economy of the United States will go back for another 0 years.

0 years!

Since the financial crisis in 08, the United States has relied on the dollar status of the international hegemon to finally break the national economy out of the quagmire of the subprime mortgage crisis.

It's good now, let's go back in another 0 years, I don't know how many people in the United States want to stand on the high-rise buildings on Wall Street and take a leap of faith.

As a result, the Federal Reserve, the National Taxation Bureau, the Parliament, and the top leaders of all parties began to intervene, and a large amount of money began to be injected into the bailout.

It's just that after watching the Dow Jones index rise back by hundreds of points, an untouchable green halving downward trend once again shattered the dream of these bigwigs in the United States to save the market.

"What's the situation?"

"Why did it fall again?"

"Obviously, a large amount of money was injected into the stock market within 2 hours after the market opened, and the stock index also rose back some...... Why...... Why on earth is that?" A Wall Street securities tycoon smashed the newly opened champagne to pieces in disbelief.

“BSS…… Oh no...... Detroit ......"

"Just 3 minutes ago, Detroit declared bankruptcy!" A blonde secretary exclaimed as he covered his mouth as he stared at a news pop-up on a computer screen.

You know, this Detroit is an industrial city that symbolizes the rise of the United States' industry.

At the beginning of its heyday, giant companies such as General Motors and Ford Motor in the United States settled their production bases here.

In addition to a series of parts manufacturers in the upper, middle and lower parts of the automobile industry in the city, such as during World War I and World War, the processing of aircraft, tanks, and metal industries in the United States was gathered in the huge satellite city of Detroit.

But with the decline of the machinery industry and several economic crises, Detroit, the former automobile city, has long been overwhelmed. In addition to rising unemployment, the proliferation of gangs in the city, coupled with the presence of several large casinos, has accelerated the decline of the old auto industry city.

No, the stock market crash that has been set off in the United States for nearly a week directly caused the already overwhelmed city of Detroit to declare bankruptcy. This is also the largest city bankruptcy in the history of the United States so far.

When it comes to the bankruptcy of this city, let's first take a look at the federal system of the country.

In addition to allowing local governments to have certain financial and legal freedom, the biggest advantage of the state and county autonomy of the United States is that the United States Congress gets rid of the economic dependence of its subordinate states and counties.

Well, now an old industrial city with a population of almost one million people suddenly announced that it had filed for bankruptcy protection, which directly made the Federal Assembly dumbfounded!

Because as soon as Detroit files for bankruptcy protection, the federal government will have to take over the city's finances.

And it will only be a few years, if not decades, when Detroit's economy is on the brink of bankruptcy, that the city's finances can be returned to the city of Detroit.

Fuck it!

This is just a huge amount of money to save the stock market!

Before he could relieve his anger for a few hours, he was stabbed in the back by the news of "Detroit bankruptcy", and any leader of the United States would jump angrily!

Because, as soon as the news of Detroit's announcement of protection spreads, it not only causes a financial burden on the United States federal government, but also exacerbates the distrust of shareholders about the economic trend of the United States.

This sudden wave of Dow Jones index diving is the best proof!

Good guys, it's not just the shareholders who are selling like crazy, but even some investment banks that are going to protect themselves are also selling like crazy.

Within half a day, a new round of circuit breakers rang again in the New York stock exchange market.

As for how many people lined up to jump from a high-rise building on Wall Street that day, it is estimated that only the senior officials of the Ministry of Health and Human Services of the United States know.

……

"Detroit is bankrupt?" When Chen Hao learned the news, he was still accompanying his roommates of 348 to take art appreciation, a must-learn course in architecture.

As for his hands, at the moment, he was tinkering with a mobile banking app in the gap between his desk.

"yes!"

"If you say bankruptcy, you will be bankrupt, and this week's stock market crash in the United States is in an uproar. ”

"Several relatives in my family who love to speculate in stocks are said to have withdrawn their funds. The boss Wen Biao whispered on the side. The rest of the roommates also echoed a few words, and there was a lot of momentum to talk about the discoloration of "shares".

"By the way, Fourth Brother, you've been pressing it down for a long time. What kind of mobile game are you playing? The fifth Chen Wei looked puzzled.

"It's not a game, I'm transferring money to someone else. ”

"It's all the money borrowed before, and I have to pay it back with interest. Chen Hao pursed his lips and showed a strange smile.

As for his eyes, there was a hint of flesh pain.

"Flower rub!"

"Fourth, did I hear you right?"

"Your family is so rich, and you still have to borrow it from others?"

"Come! Hurry up and let the brothers open their eyes and see how this rich second generation pays back. The second Zhou Jun joked with a surprised face, but as for Chen Hao's hand, it was stretched out into the table and bucket.

Then a bumpy scramble came out of the table, and waited until Chen Hao's [Future Phone] was coaxed out by 348's roommates.

The transfer information displayed on the mobile phone screen directly short-circuited the brains of the little teases present!

Because, even the smallest transfer amount has reached the amount of 5 million yuan.

Even Jiang Zesheng, the third elder who couldn't believe that this was true, was rubbing his fingers at this time, and one of the transfer records was pointed out one by one.

"One, ten, hundred, thousand, one hundred thousand, million...... Wait a minute...... What about the two zeros after the decimal point?"

"The third child, you're not blind, are you? What decimal point, don't you see that it's all zero? This string is enough for a string of sugar gourds!"

"Oh my god......! Five million?"..

"Fourth, which bank did you rob?"