Chapter 776 - Launching a General Attack on Goldman Sachs (II)

Fund X's strategy against Goldman Sachs is very simple, that is, to constantly put pressure, pressure, and pressure! Under such heavy pressure, as long as Goldman Sachs is careless, and then X Fund seizes the opportunity, then it will be a loss.

Let's put it this way, Goldman Sachs is a spring in the eyes of X Fund and Su Chenyu, as long as the strength is enough, sooner or later this spring will be completely crushed and deformed!

From the beginning of the attack on Chanel to Goldman Sachs, until now, X Fund has carried out several "bombardments" against Goldman Sachs back and forth, so to speak, Goldman Sachs is on the verge of collapse.

As one of the four major investment banks on Wall Street, Goldman Sachs is definitely the penultimate existence, no way, whether it is Morgan Stanley, Citibank or Merrill Lynch, they are much more awesome than Goldman Sachs. You know, behind Morgan Stanley and Citibank, there are the terrifyingly large Morgan consortium and Citigroup, and they can't compare to these two goods by killing Goldman Sachs. As for Bank of Merrill Lynch, hehe, Bank of Merrill Lynch in this era is not a "waste material" of later generations, now they are the most powerful investment bank in the world, ranking first among the four major investment banks, besides, behind them there is a "boyfriend" Bank of America who has always had a good impression of him.

Therefore, among the four major investment banks, Goldman Sachs in this era is definitely not as famous and awesome as later generations, and it is really just a small character among the four major investment banks. After all, in the dangerous industry of the financial circle, there is no super "capital father" behind it, and there is a danger of destruction at all times.

This is really not a joke, just look at the Bank of Bahrain, no one is behind their backs, and in the end there is only a dead end of bankruptcy and liquidation. Now Goldman Sachs is in the same situation as the Bank of Baring, without the support of big capital behind it, as long as the investment loss is slightly larger, then it can be regarded as a complete break.

The simplest example, take the present, Goldman Sachs was dragged into the quagmire by Fund X and couldn't extricate itself for a long time, but if a super bank dad behind them was supported, Goldman Sachs would definitely not be in the current situation - they didn't dare to show their heads when they were pressed by Fund X.

I have to say that Fund X's slow cooking of Goldman Sachs is really powerful, because Fund X deliberately stares at Goldman Sachs' investment to crack down, so their losses continue to increase. In the case of Qualcomm this time, Goldman Sachs felt that he was inexplicably involved, and then his losses were a little unstoppable.

Goldman Sachs, which has been losing money, may really not be able to stand it this time, and the Qualcomm affair is like the last straw that broke the camel's back, directly crushing Goldman Sachs.

You must know that Goldman Sachs is not a corporate enterprise, but a partnership enterprise, which means that all partners of Goldman Sachs must bear unlimited joint and several liability for Goldman Sachs' losses - unlimited joint and several liability. Hehe, unlimited joint and several liability is very easy to understand, that is, once Goldman Sachs loses money and goes bankrupt and liquidates, it is not just bankrupt, all the partners of the company have to pay money to paste it in, even if you have no money - you have to sell yourself and pay back the money.

Therefore, this time, the partners of Goldman Sachs really can't stand it, the most important thing is not that they are not capable, but that the enemy's blow is too powerful. Besides, what is the purpose of partnering together to do investment banking, isn't it just to make money? This is good, but the money is not earned, and if you don't do it, you have to lose money in it, and Nima is not something that only the brain-dead can do?

Therefore, when Fund X found these Goldman Sachs partners again, many people had changed their original attitude of resistance and began to greet each other with a smile - people were under the roof and had to bow their heads.

The goal of the partners of Fund X is simple, that is, they hope that these partners can agree to the transformation of Goldman Sachs from a partnership company to a joint-stock company, and Fund X will launch a bona fide acquisition of the restructured Goldman Sachs, and can bear all the current losses and debts of Goldman Sachs.

Yes, Su Chenyu's attack on Goldman Sachs is quite simple, first turning into a joint-stock company, and then launching an acquisition of Goldman Sachs - one ring after another, interlocking!

Besides, Fund X has privately reached an agreement with some people in the Goldman Sachs Asset Management Committee that as long as they can push Goldman Sachs to complete the corporate transformation, then their shares will be acquired at a premium by Fund X.

Yes, that's insider trading, but so what?

Do you think that insider trading is only in China, hehe, don't be funny, there are many in the United States, but China's insider trading is too blatant and unscrupulous. Insider trading, as long as there is no real evidence, then even if you know, even if the Ministry of Justice intervenes in the investigation, then what is the use of chicken feathers?

Therefore, in the case of Goldman Sachs' loss, the promise of the X Fund's acquisition is simply too "heartwarming"; besides, isn't it just for money that everyone has come together to become an investment company? Now that Goldman Sachs has lost money on such a large scale and has no money to make, now some people want to take over, although they are Goldman Sachs' enemies, so what can they do? As long as they can get benefits, then they will be fine!

Therefore, the people of the Goldman Sachs Asset Management Committee have all become "slaves of interests" one by one, but they also have conditions, that is, they need Fund X itself to carry out public relations with Goldman Sachs' partners.

As a result, this is the move of the Goldman Sachs partner of the X Fund's crazy public relations, which is the last step to complete the general attack on Goldman Sachs.

Now, the X Fund is almost done!

Goldman Sachs currently has a total of 189 partners, and most of these people have basically been handled by Fund X, so they can only wait for the final blow of Goldman Sachs' asset management committee.

In fact, the support rate within Goldman Sachs has always been very high for converting Goldman Sachs into a joint-stock company, after all, the 90s was a financial manic era with the sound of bull's hooves. Once Goldman Sachs goes public, based on the previous valuation of about $5 billion, at a general book value of 4 times, that is to say, Goldman Sachs' market value is likely to reach $20 billion!

Yes, $20 billion, don't think it's a small number, it turns out that this number is really big, you know, the market value of Goldman Sachs in later generations is only about 90 billion. It can be seen that in this era before crazy inflation, the market value of $200 is really high.

However, after this battle with Fund X, Goldman Sachs, which has been losing money, can have $10 billion burning. Again, the financial thing, if you don't do it well, it's likely to be a catastrophe, which is okay, look at Lehman Brothers in the subprime mortgage crisis in 2008, which was directly bankrupt and liquidated.

It's really good to have 10 billion, but if you get tough with X Fund for a while, it's estimated that there won't be 5 billion. Therefore, this is the reason why these partners of Goldman Sachs have become so good, otherwise, how can this group of "financial vampires" be so good?

After receiving good news from Fund X, the Goldman Sachs Asset Management Committee informed John Weinberg to convene a gathering of all the firm's partners – a gathering that should not have taken place at this time.

John Weinberg couldn't help but be a little confused about the sudden meeting request of the Goldman Sachs Asset Management Committee, what kind of moth was this going on? However, John Weinberg didn't have time to figure out what kind of moth they wanted to do, because the recent Qualcomm incident had made him anxious.

Oh, John Weinberg didn't know, there was another thing waiting for him soon.

At Goldman Sachs' New York headquarters, a total of 189 Goldman Sachs partners gathered together to discuss a major event related to the fate of Goldman Sachs - partner reform!

When Henry Goldman, the chairman of the committee, put forward a proposal for a partnership restructuring on behalf of the Goldman Sachs Asset Management Committee, John Weinberg was a slap in the face, and he didn't know what was going on? Damn, what's going on? Can anyone tell me!

It's not that John Weinberg opposes Goldman Sachs' partnership restructuring, because the partnership system is also a lot of risks for him, a senior partner, but he feels that there is a big cat behind this matter. Nima, now Goldman Sachs is full of "external troubles", and it actually has created an "internal worry", which really makes John Weinberg worried.

"Goldman Sachs' partnership system is no longer suitable for the development of this era, and if we want to grow, we must change to a corporate system, and we must also think about the future of public offerings. ”

This is the speech of Lawrence, a senior partner at Goldman Sachs, who was undoubtedly taken down by Fund X, just to be a trustee at the partners' conference. You know, in order to succeed in the restructuring of this partner meeting, X Fund has put trust in these partners, but they have all promised heavy profits.

Therefore, after Lawrence's speech, another Goldman Sachs partner stood up and shouted for the Goldman Sachs partner restructuring, and one after another. At this moment, John Weinberg can see that it is difficult for Goldman Sachs to be better if the restructuring of the partner is not decided today.

In this case, in the case of such a large loss at Goldman Sachs, the partnership restructuring seems to be beneficial to him John Weinberg himself, at least he does not have to bear unlimited liability. Therefore, John Weinberg directly chose to push the boat and agreed with the proposal of the Asset Management Committee. Now that John Weinberg agreed, White Head had no reason to object.

As a result, no one expected that Goldman Sachs would complete the resolution of the partnership restructuring so smoothly under such circumstances!

It seems that the total offensive of Fund X has been successful, and next, it is time to ......