"I believe that all fair media friends will uphold justice and expose all the darkness to the sun. Pen Fun Pavilion wWw. ｂiquge。 infoLet God testify to how dirty things really are that I can't tolerate. Their wanton theft of assets that should belong to ordinary investors and bankrupt these people who were originally rich and prosperous is a shameful act that every American person resolutely cannot accept. ”

At the Lehman Brothers press conference, Richard Folder, the chairman of the company, shouted the above words in front of the mainstream media in the United States.

Subsequently, each reporter was given a document on Citigroup's suspected illegal debt transfer and data fraud, and according to the information disclosed in the document, every reporter present let out an exclamation.

"Damn, they dare to do that. But damn it, why couldn't Lehman Brothers privately hand over this news to the New York Times, it would be a big news that would shock the whole world. ”

This kind of public practice is simply an insult to our profession, you must know that this kind of big news is rare to see in a few years, I can't imagine that it will be announced by the public like this, and there is no sense of shocking at all. ”

The reporters present bowed their heads one after another, and of course, the reporters who took out their mobile phones in a panic to give orders to their investment brokers, "Quick, don't ask why, immediately sell all Citigroup-related stocks and securities in my account." ”

"Hi dear Jimmy, I'm James, and I'm at Lehman Brothers headquarters in New York. Listen, I'm just telling you one person, hurry up and sell all the Citigroup shares in your hand. What? Do you still expect Citigroup's stock appreciation to allow you to buy a car? Is it a bicycle, hehe, let me tell you, they are suspected of falsely reporting financial revenues, and the secret transfer of debts has been revealed, so sell them quickly, otherwise you will wait for these stocks to become a piece of waste paper. ”

In the United States today, when the financial crisis and subprime mortgage crisis are intensifying, no wind or grass can escape the eyes of those who are interested.

At the same time as the Lehman Brothers press conference was held, a strange scene was staged on the stock market, and Citigroup shareholders who received the news in advance sold their shares in the market almost at any cost.

Its shares quickly slipped from $36.65 at the morning opening to $33.72 per share.

This unusual move is expected to provoke a reaction from the market, but no one is surprised by the overall downward environment, especially the recent news that Citi has lost tens of billions of dollars in the third quarter.

Just a few minutes later, many traders who were supposed to stay in their company's separate office area hurriedly went out, and then a message exploded in the crowd.

"Citi's suspected non-performing loans and junk bonds of $160 billion were concealed, and their true loss in the third quarter was more than $20 billion, less than half of which was announced in the last announcement. ”

"The news of Citigroup's alleged covert transfer of losses to investors has been made public by Lehman Brothers, which has filed lawsuits with the Federal Reserve and federal court to demand an explanation of the $45 billion short-term bond swap treaty and compensation for Lehman Brothers' losses. ”

The two pieces of news swept through the New York Stock Exchange like a hurricane, and almost all those involved in it were so shocked that they were almost speechless.

Of course, they don't have time to speak, because at this time, Citigroup's stock price has plummeted from $33.72, and almost every time it is refreshed, you can see Citigroup's stock price diving.

"$32 too. ”

"$31. ”

"It's below $30. ”

"Oh my God, there's already been about $20 billion worth of Citi shares sold off in the whole market, and now it's all sells, not buys. ”

"What's the matter? Is a new stock market crash coming?" Investors who have just entered the stock market and are ready to trade look at the dazzling red color of the financial market, and some can't open their eyes.

Dragged down by both Citigroup and Lehman Brothers, the financial and banking sectors of the U.S. stock market began to plummet, and almost all investors began to frantically sell their related stock securities, lest the waste paper end up in their own hands.

But no one wants to take over anymore, because early reporters and media outlets who know the intensity of the news have updated the latest news in their news sections, and at the same time added the most conspicuous headlines, striving to make it available to readers across the United States as soon as possible.

"Now that the stock market is in a mess, affected by the bad news from Citi, almost all bank stocks have been sold off, they have stopped believing in anyone's promises, all the brokerages have been instructed about the sell-off, and if the US government does not react this morning, then I can imagine that the real Black Friday will be staged again. ”

October 13, the day of double darkness, in the Western world, 13 represents bad luck, and the stock market crash occurred on Friday, a special day, which terrified Americans.

They are already frantically selling any stocks related to the banking and financial industry, but what everyone didn't expect is that no one can take over now, and even if there is, in the hundreds of billions of dollars, there will be no waves.

Fed Chairman Ben Bernanke only heard the news from a subordinate who rushed into his office at 9:37 a.m., exactly seven minutes after the news spread.

In these seven minutes, the entire U.S. stock market evaporated about $40 billion in assets, and I believe that if he does not immediately give the most reasonable explanation, then this figure will become hundreds of billions in a day, and even drag the entire United States into the quagmire of stock market crash.

"What? How dare they!"

Bernanke's first reaction to hearing the news turned out to be anger, not shock.

The subordinate's face was anxious, "Sir, now the whole market is in a panic, Citigroup has not made any reaction to this matter, and it is estimated that they are also messing up." If the incident is allowed to spread, I fear that a real stock market crash will erupt on a large scale. ”

Bernanke didn't know, he immediately took out the special line and dialed the Federal Reserve Bank of New York directly, "Timothy Geithner, I need you to immediately use the funds of the Reserve Bank of New York for a tentative bailout, the stock market must not be allowed to plummet like this, it is not good for everyone." ”

Timothy Geithner, the president of the Federal Reserve Bank of New York on the other end of the phone, smiled wryly, "Sir, in fact, any tentative move cannot be reversed, unless we immediately use all our strength to carry out an unlimited rescue, otherwise we can only watch the stock market crash." ”

"Is the situation so urgent? Wait a minute, I'm in contact with the Treasury Secretary, Mr. Henry Paulson, to see what he thinks of this incident. Bernanke looked hurried and picked up another special phone.

There, Henry Paulson, the current cabinet treasurer, was anxiously waiting to talk to him, and as soon as the phone was connected, the treasurer's anxious roar came directly from the other side, "Damn, what the hell is going on?!"

"I also want to know what is going on, but what we have to do now is to bail out the market immediately, and wait and see, two options. Mr. Treasurer, decide for yourself. Bernanke immediately threw out his thoughts.

On the other side of the phone, Timothy Geithner also said, "Please tell Mr. Treasury Secretary that we have just used $50 million in reserves, but we haven't held on for even a second, and according to the emergency figures, we have to save the market to more than $50 billion, or even more." This requires the Treasury and the Federal Reserve to immediately intervene to stabilize investor sentiment, otherwise even if this number is doubled, it will not be able to prevent the outbreak of the stock market crash. ”

Henry Paulson could also hear Timothy Geithner on the phone, he pondered for a moment, and after a moment of serious consideration, he said, "The president's call has arrived, and I don't have much time to find out what the hell is going on, but I hope that in five minutes, you can come up with a practical and effective way to calm the situation, otherwise we are all in big trouble, you know?!"

After saying that, he cut off the call directly, leaving Bernanke, who was anxious, at a loss, and he didn't feel a little calm until the people below reported the whole thing.

"Sir, if this is the case, I think it would be better for Citigroup to come forward at this time, and we will help, otherwise, a lot of federal funds will be spent in such a useless place. Timothy Geithner is not in favor of using the federal reserve funds immediately to bail out the market, because this is the trouble that Citigroup has made on its own, and it is better to let the latter take the trouble on its own.

Bernanke doesn't see it that way, he has his own unique opinion, "Hey, you have to understand that Lehman Brothers has evidence that Citigroup's actions violated the Fair Trade Act and federal law, and if they bite the bullet, this problem will not be solved by us." ”

"But you have to understand that this damn thing is all Citi's own shit for profit, and we can't fight it for him. Timothy Geithner couldn't have known what Bernanke didn't mean.

This is the Fed to overturn the previous decision, on the one hand, to invest a lot of money in the stock market, to save the situation, to avoid the stock market crash.

On the one hand, it is necessary to immediately re-examine the rescue plan for Lehman Brothers, even if it is only temporary, and it is necessary to take a posture to appease Lehman Brothers, so as to prevent the latter from jumping over the wall and revealing more top-secret information.

At this time, Bernanke had no choice but to compromise, and he had no other way to settle the matter, but hoped that Citigroup would make its own efforts and Lehman Brothers would stop exposing the inside story to save the situation.

"We've got to make a choice, and I'm going to have a good talk with Richard's Biao son and get him to stop this stupid behavior, or I'd rather use twice as much money to save the city than give Lehman Brothers a rescue. I'm sure he's a smart guy who knows what works best for him. Bernanke cursed viciously on the phone, but it didn't help, and in the end he could only helplessly tell Timothy Geithner on the phone, "Apply for the funds, make a statement for me immediately, even if we don't have to save the market, we must have a last resort." ”

"Well, good luck. Timothy Geithner could only passively accept the order, because only the Federal Reserve Bank of New York could come up with enough cash to bail out the market at this time.

As for Citi, they themselves are not guaranteed, and now depositors all over the United States are beginning to question Citi's credibility, not only in the stock market, but also outside the major business outlets, ordinary depositors waving their bank cards and clamoring for Citi to die.

"Richard, you've gone too far this time. The first thing Bernanke's phone call was an angry question.

But what he didn't expect was that Richard Fuord, who had whispered to him a day ago and prayed for help, now had a different face, and he pretended to be surprised, "What made you so angry, did you forget to take your medicine in the morning?"

Richard Furder sneered inwardly, before today, you all regarded me as an outcast, and now as soon as I expose the news, you are in a hurry, it can be seen that you have never thought about saving me, but only want to cut the flesh from me, and now it is time for you to cry.

Bernanke was momentarily overwhelmed by his ridicule, but reason told him that he had to compromise, otherwise, once the stock market crashed, all of their interests would suffer huge losses, and no one could afford the consequences.

Thinking of this, he could only forcibly suppress his anger and said slowly, "Richard, you have to know that there is nothing good in doing this. You have offended them, and you will not be rescued. ”

"I don't care, haven't you noticed? The fixed assets of many of Lehman Brothers' subsidiaries have been treated as debts and are no longer under Lehman Brothers' control, and even if I get your handouts, so what? In the end, I am nothing more than insolvent garbage that is about to fall into bankruptcy. Richard Forde snorted coldly, and then said viciously, "Now everyone is satisfied! Let's die together, I will never let the company that I have grown by myself be easily divided by you like this, let's finish it together, haha." ”

"You're just crazy. Before Bernanke threw out the conditions of the rescue in exchange for the other party's absence from exposing the inside story, he heard Richard's almost crazy laughter, and his mind gradually sank to the bottom, because the other party already had the same intention of ending up, and it was likely that the next wave of inside stories would be discarded to the public.

When the time comes, God himself will not be able to save Citigroup.

"What the hell are you going to do!" Bernanke was dumbfounded, he no longer knew how to face such a crazy opponent.