Chapter 283: The Victor Is Singing
On January 22, the global stock market evaporated $5 trillion in one day, and 38 stock exchanges around the world fell into a bear market, and the United States was the hardest hit area.
On this day, countless small and medium-sized enterprises in the United States were delisted, and the collapse of the upper financial market directly caused the unemployment of people in the downstream of the industrial chain, and the evil consequences of the economic crisis were shown to everyone for the first time. The United States, which has always acted as the world's policeman and regarded itself as the center of the world, felt that it was not so pleasant to be the center of the world for the first time.
The next day, the news spread throughout North America, and then caused a sensation around the world, but some people were happy and some were worried.
JPMorgan Chase, Dimon looked at yesterday's stock market close, and his joy was palpable. But he has been in a high position for many years, and he knows that joy and anger are invisible, and he can only show his feelings by pacing constantly. He guessed right, he really guessed right, but he was even more surprised, he didn't expect that it was not a stock that would plummet, but the entire market was plummeting, which was definitely God's help!
"Call right away and convene the board!"
Dimon's decision was quickly responded, and an hour later, there were eight people seated in the room. In fact, JPMorgan Chase is still the property of the Morgan family, and even though they have lost a lot of shares, they are still the largest shareholder.
Dimon's majestic gaze scanned the room, reminding everyone of the board meeting two weeks ago: "Directors, I have a premonition that a great storm is coming, like the whirlwind of World War II, the great storm of politics that caused JPMorgan Chase to rise rapidly. Now we are about to encounter a major storm blowing from the economic sphere....... I don't think we can afford to wait in vain in this storm, we have to get our benefits......
A middle-aged man sitting first on his right hand spoke, "Damon, it turns out that your guess is correct, so do you want to stick to your opinion?"
"Of course!" Dimon said firmly, in keeping with the image he had always shown at JPMorgan Chase, "since I have proved my guess right, I have to do it, and Mr. Morgan invited me to be CEO." I promised him to take JPMorgan Chase forward. ”
"But the object we want to buy is Bear Stearns, which is a behemoth that is not much smaller than JPMorgan Chase, even if the stock price is falling, can we eat it? Even if we can eat it, Bear Stearns has too many bad debts and debts, and this is an uneconomical acquisition. "Some people questioned it.
But looking at Damon's expression, he was still very calm, and he had already considered all these doubts.
"I'm sure there's a black hand working on Bear Stearns, even against Lehman Brothers, and Bear Stearns' decay is just the beginning, he's almost finished. ”
"Your results are too arbitrary. ”
"What if Goldman Sachs makes a move?"
The conference room was speechless, Dimon looked around, he didn't care if anyone had learned the news and chose not to report it, Goldman Sachs has Morgan people, Morgan can't have Goldman Sachs, Wall Street is deep.
"This is a self-help operation, the five major investment banks on Wall Street have all had crises, Merrill Lynch and Bear Stearns have changed CEOs one after another, internal instability, and Lehman Brothers is even more busy taking care of itself. If these three companies close down, will the Treasury Department sit idly by? Will they watch Goldman Sachs fall again? The answer, of course, is no, the government will certainly increase its support for Goldman Sachs, and if Goldman Sachs falls again, the damage to the US economy will be immeasurable. ”
Some of the directors at the bottom are whispering: Morgan Stanley has completed the banking, separating the investment banking business, and Goldman Sachs is really in a hurry.......
"Goldman Sachs brought down two investment banks, one would get the only government bailout, and the other would eliminate competitors. But that's where our opportunity lies, as the Big Five investment banks on Wall Street, the government won't let Bear Stearns fall easily, and if there are companies that can pull Bear Stearns, maybe the government will pay for it. ”
I have to say that Dimon is definitely an excellent banker, and the U.S. government has historically provided JPMorgan Chase with an interest-free loan of $30 billion for its acquisition of Bear Stearns, and has personally guaranteed JPMorgan Chase.
"Damon, I have to say that the prospects you have described are very good, but will the government pay for us? ”
"My good friend Timothy Geithner, chairman of the Federal Reserve Board of New York, has reported to the Fed that Bear Stearns' bankruptcy has a considerable systemic risk, and we will hear good news soon, and we should now consider what kind of plan we are prepared to come up with to get the Fed's support." ”
The conference room burst into applause.......
As Dimon guessed, Goldman Sachs President Frank Fan was indeed rejoicing, but Frank Van, who was not carried away, was the first employee in Goldman Sachs' history to become CEO from the bottom staff, and it was this experience that made him not arrogant or discouraged.
Under his leadership, Goldman Sachs has always ranked first among the five major investment banks, but this economic crisis came so suddenly, so suddenly that many people were too busy to take care of themselves. He must lead Goldman Sachs out of the quagmire, he does not want to be engraved on the pillar of shame of Goldman Sachs, and more importantly, the annual salary he received at Goldman Sachs last year was nearly $70 million in cash, which is definitely the highest annual salary of a CEO.
And not only does Dimon have good friends, Goldman Sachs and the Treasury are far closer than JPMorgan Chase and the Treasury, because the current Minister of the Treasury is none other than Henry Paulson, the former CEO of Goldman Sachs, and all he has to do is create an excuse for Henry to help, and now it seems that he is doing well, maybe God is helping him.......
If these two were still happy, Xie Ai was shocked. As early as last year, Lin Fan predicted that there would be a small stock market crash this year, and Xie Ai had been looking forward to it, but when the prediction became a reality. He suddenly found that he couldn't accept it, is Lin Fan really still human?
Although he had been obeying Lin Fan's orders before, it was more of a habitual obedience, and he knew that his stock trading skills were much better than Lin Fan's. But the facts left him speechless, and God is nothing more than that?
However, he is still a competent trader, and his first reaction is to report good news to Lin Fan, "Mr. Lin, we have a bumper harvest." Now our money has ballooned to $20 billion. ”
Even if Lin Fan had been prepared, he was taken aback by this number, but thinking about the market value that evaporated yesterday, as long as someone chooses to short, I am afraid that there will be a bumper harvest.
"JPMorgan should buy Bear Stearns in the next month or two, which is our last chance to make a big profit, and when we're done, let's get it done. ”
Xie Ai hesitated for a moment, but still chose to speak, "Then what is the price at which we are shorting?"
"Two dollars. ”
The phone had hung up, but Xie Ai's mind was still roaring, knowing that Bear Stearns' current stock price was still around forty dollars......