Greenspan's eyes were still squinting, and it was hard for anyone to guess his thoughts from his expression and the look in his eyes.

As soon as Greenspan heard about the Cowyce Fund, he already knew who the medium-sized, smiling tiger-looking man in front of him was.

Managing Director and CEO of the Cowyce Fund, Blankefen.

Although 1998 is not even half of the year, everyone believes that by the end of the year, Fortune magazine's list of the top 10 news on Wall Street will definitely have Coyce's name.

This company is the first securities dealer in history to truly monopolize the market-making market of the U.S. stock exchange by virtue of its technological superiority one era ahead.

Monopoly in any industry can bring high profits, let alone the financial industry!

That's a profit of $15 million to $25 million a day!

Every day!

A money printing machine has a comprehensive printing efficiency of 2 bills per second, even if it prints a large bill of 100 US dollars, it can print 720,000 US dollars in an hour, and it can be printed 24 hours a day, and it can produce a denomination of 17.28 million US dollars.

Cowyce, the speed of making money is really faster than the money printing machine!

There has always been no shortage of legends on Wall Street, but it is rare to see legends to this extent. Countless Wall Street elites are digging to find out what is going on inside Coyce, but this fund is too mysterious and low-key than LTCM, which requires no redemption of assets for three years.

This fund does not disclose the rate of return, the list of investors, the size of the fund, and the operation strategy, and everything about this fund seems to be in a fog.

And today, the company actually broke the veil of mystery and took the initiative to come forward to buy LTCM for $175 million, which was completely unexpected by everyone.

Greenspan, of course, is no exception.

"The cash flow position of the Cowyce Fund should be very good, and I am not opposed to this acquisition. But I would like to remind you that the Fed's purpose is to revitalize LTCM, and in order to achieve this, the acquirer will inject at least $3.85 billion into LTCM's assets, Mr. Berlankefen, are you sure?" asked William MacDonald, President of the Federal Reserve Bank of New York, with a look of surprise on his face.

For the Federal Reserve, the New York branch is the most important part of its overall system. Because of its location on Wall Street, it serves as the eyes and ears of the Fed's governing body in Washington.

William McDonald, the president of the New York branch, is a man of great talent who regularly interviews executives at major banks and securities firms to stay up-to-date on industry developments, especially those that could destabilize the market or endanger the entire financial system.

He was the first Fed to discover the risks behind LTCM's losses. William MacDonald persuaded Greenspan to convene the financial tycoons for this meeting to discuss how to rescue LTCM.

Throughout the meeting, the negotiation process did not go smoothly, and Merrill Lynch's Kemansky, Goldman Sachs' Henry Paulson, Citigroup's Sandyvae and Morgan Stanley Tim Hui were the most implicated, and there were a large number of related party transactions with LTCM, so they urged the major banks to bail out LTCM.

The clearing bank, represented by Bear Stearns, has publicly stated that it will not participate in the plan to bail out LTCM and is ready to sell its LTCM bonds.

James Kane, the CEO of Bear Stenden's maverick, even blatantly declared that he would not sponsor a dime to LTCM, and that it was best for this hedge fund to die.

Even a few giant crocodiles who agreed to the bailout proposal quarreled endlessly over the proportion of capital contributions and the share of equity in exchange, and it was difficult to reach an agreement.

But the current situation is that LTCM's cash flow has fallen to less than $500 million, and if no follow-up investors can be found to make additional deposits for LTCM within three days, LTCM will be liquidated by Bear Stearns, completely rolled out of Wall Street, and bankrupt.

In this kind of emergency, it is not surprising that an organization has taken the initiative to stand up and take over the mess of LTCM, and this agency is still in full swing on Wall Street.

Could it be that there are any other interests in the wreckage of LTCM that no one else has discovered?

This room is full of the brightest minds in the world, and these brilliant minds can't figure out what Cowes wants to do and why he would take such a big risk to save LTCM.

After receiving Belankefen's affirmative reply, a cold glint seemed to flash in Greenspan's dim old eyes: "Mr. Belankefen, I admire Coyce's courage very much, everyone here, is there anyone who opposes Coyce's proposal?"

Frank Ford, Bear Stearns, Chase Manhattan, Goldman Sachs, Morgan, Lehman Brothers, Merrill Lynch, Morgan Stanley Tim Whitney, Citigroup。。。。。。 The bigwigs present looked at each other and did not make a statement.

"Well, since there is no objection, on behalf of the Federal Reserve, I agree to Coyce's acquisition of LTCM. Greenspan was about to make a final decision, when a middle-aged man in a suit and leather shoes whispered a few words in Greenspan's ear, Greenspan's eyes flashed, and he nodded slightly.

There was a creak, and the heavy wooden door of the conference room was pushed open.

"When will the Fed be the owner of the private sector!?What qualifications do you have to sell LTCM at such a low price!?" a proud voice came from the door.

The voice was so familiar that there was no one sitting there who did not recognize the owner of the voice.

Merry Weather.

"Finally, who can tell me what is the rationale for you to hold a meeting about the LTCM behind closed doors and not invite the LTCM?" Meriweather unceremoniously pulled one of Merrill Lynch executives out of his chair and sat down on his own.

"Mr. John Merryweatherer. William MacDonald said with a dark face, "Do you think you've not gotten into enough trouble? We're wiping your ass! First Coyce is willing to take over for $175 million, what are you not satisfied with? If you don't get another injection of funds, LTCM will go bankrupt in three days! Do you really want to be finished so much?"

"Hahaha. Merrywether let out a maniacal laugh, "It's over? haha! Of course I wouldn't want to be alone if it were just me, but 。。。。。。 The smile on Merryweather's face became more and more hideous, "If you can pull so many people into the water and finish with me, I don't mind this ending!"

"You !!" William MacDonald's eyes widened angrily, and Greenspan waved his hand to stop the two from arguing: "John, what do you mean?"

Meriweather grinned, "What do you mean? I will never accept a purchase price of $175 million." ”

Greenspan was expressionless: "How much do you want?"

Merryweather's face smiled like a sunflower: "4 billion, 4 billion dollars." ”

At its peak, LTCM only had $4 billion in its own assets, and in just three months, 90 percent of LTCM's assets have disappeared, and if it is not bailed out, it will go bankrupt.

"$4 billion? Why?" someone couldn't contain his anger and scolded.

"Why?" Merweser touched his chin, "Let me think。。。。。。 Oh, and if LTCM goes bankrupt, the US financial system will collapse. ”

"If you're brave enough, of course you can't pay for it. If you're not brave enough, you'd better do what I say. Otherwise... Let's liquidate, you can liquidate LTCM now. ”

(End of chapter)