"Ladies and gentlemen, I want to make a point that the Citigroup matter is definitely not the problem of our Rockefeller family, but the entire American financial circle, and it is obvious that certain competitors are using Lehman Brothers to target Citi, and then the entire American financial industry, and want to make huge profits from it. Pen & Fun & Pavilion www.biquge.info"

Walker, who represented Rockefeller, said categorically, and then looked at John Jr., the Morgan consortium opposite, his eyes full of disdain.

Philip Ward, the representative of the Bank of America, who had a conflict with Rockefeller in the financial industry, was a little dissatisfied, "Hey, please don't expand your own troubles, we have no obligation or need to rescue Rockefeller's Citigroup, because you are able to solve all external troubles with your own ability, and now is the meeting to discuss the rescue of small and medium-sized financial institutions and banks." ”

Walker sneered and threw a stack of materials on the conference table, "I think you should take a look at this." I am not addressing any one of the specific people present, but I must explain that in the past half month, the securities market and the stock market have a total of more than 70,000 secret accounts and a huge amount of more than $80 billion in funds that have secretly shorted all the companies related to the financial industry. Their purpose, I'm sure all of you here are very clear, but what I want to say is, who can have such a lot of energy and be sure that there will be money here?!"

At the moment of the outbreak of the financial crisis, short selling has become the preferred investment method for many people, because everyone knows that financial institutions are losing money, stocks are falling, and the outlook is bleak.

However, according to the details disclosed by Walker, this part of the short funds are concentrated in the last half a month, and the time of maturity and delivery is concentrated in the end of 2007 and January and February 2008.

You must know that in many cases, the unstable nature of the financial market is the most troublesome, after all, a sudden good news may make your original calculated profit deviate, or even lose.

Although many people can calculate the general environment, when it comes to the specific delivery time, not many people can be sure.

Now that such a large amount of money has suddenly entered the stock market and shorted the financial industry, and the time has been recognized, it makes people wonder, why do they believe that such a huge amount of money into the stock market can still make high profits as they expected?

Little John of the Morgan Consortium didn't care about Walker's eyes on the other side that wanted to eat people, and he sneered in his heart, "Even if you know that I did it, what can you do, can you come up with evidence to prove that it's me?!"

The people of other consortia also tacitly knew that the part of the funds investigated by Rockefeller was far lower than the funds they jointly invested in the stock market, because every consortium was crazy about shorting, but a few of them got the exact news, and they knew that Citigroup was facing huge difficulties, so under the cover of the consortium, Citigroup could actually receive very little news.

Bernanke was also well aware of this, but he did not dare to allow Walker to continue to stir up disputes in such a serious setting, because that would cause a lot of trouble, and even affect the national policy of the entire Federation.

Thinking of this, he immediately interrupted the latter's continued denunciation, "I'm sorry, Mr. Walker! I have to remind you that this is a meeting for the rescue of financial institutions, and Citigroup's affairs are also among them, and if you insist on delaying, then the rescue work will be delayed, and each of us will bear the loss." ”

Of course, Walker will not take the initiative to delay, although he is angry, he will not turn his face in person, which shows that a number of American consortia are working together to trap him, in order to snatch benefits from the mouth of the Rockefeller consortium. The reason why he took the lead in throwing this question was to have more say in the rescue plan later.

Everyone else knew, but no one wanted Citi to get the biggest slice of the feast of the rescue.

Federal Treasury Secretary Paulson coughed and said, " According to our distribution plan, the first phase will be funded by each of the 12 Federal Reserve Banks of 15 billion US dollars, and then by the Ministry of Finance and the federal insurance industry each 10 billion US dollars, a total of 200 billion US dollars, the final shortfall, 30 billion US dollars will be provided by the major consortiums, together with 230 billion US dollars, with the 25 financial institutions that suffered the most losses to share 180 billion US dollars, and the remaining 300 financial institutions to share 50 billion US dollars in rescue funds, the specific distribution plan will be determined in this meeting and subsequent meetings。 ”

"It seems that the Federation is determined to preserve these large and medium-sized financial institutions, didn't we originally plan?" said Jamie Dimon, chairman of JPMorgan Chase & Co., who attended the meeting with John Jr., in a low voice.

The latter nodded imperceptibly, "It seems that our plans for Bear Stearns are going to be advanced." ”

"However, their current stock price is still at an inflated position, and if we rush forward, it will lead to a significant increase in our acquisition costs. Jamie Dimon thought for a moment and said, "But now is a good opportunity to use this stock market crash that has affected financial institutions in the United States to suppress Bear Stearns, expose their debt, cut off their external financing channels, and force the latter to file for bankruptcy." ”

"Okay. But you'd better act quickly, I estimate that the first phase of the rescue fund will come to fruition within half a month, and if we do it again, we may not be able to receive federal funding, and at this point, you have to pay special attention to the fact that the company must maintain a high level of cash flow reserves at all times. Although John Jr. has the intention to eat the most cake in this frenzy of carving up the financial industry, Citigroup's experience is firmly there, as long as it is not stupid, everyone will set aside huge cash reserves for their companies to deal with targeted strikes that may come at any time.

Just as the two of them were talking secretly, Walker spoke, his appetite was obviously so big that he shocked everyone as soon as he opened his mouth, "Gentlemen, it's not that I'm greedy, but because in the current form, rescuing Citi is rescuing the entire financial industry, so I'm here to apply for $120 billion in rescue funds for Citigroup to ensure that the overall industry is not subject to additional shocks." ”

"What? The first phase of the fund is only 230 billion US dollars, and 25 financial institutions share 180 billion US dollars of it, and you alone will take 120 billion US dollars, so what will the remaining 24 of us eat? Are they all waiting for bankruptcy?" The West Texas consortium could not sit still, although their business mainly involved the industrial and energy industries, in this crisis, the global oil and natural gas prices are rising, they are not short of funds, and they are not at risk of bankruptcy runs.

However, the financial institutions controlled by them took advantage of this time to buy bankrupt banks across the United States, and naturally inherited many junk loans in the real estate industry.

As soon as they heard the request of the Rockefeller consortium, the entire venue burst into a buzzing exclamation, and no one expected that the other party would open his mouth and take away so much money in one go.

"Mr. Walker, you have to understand that all the leaders of the American corporations are watching you, and I want you to be accountable for what you say. Cousins of the U.S. Securities and Exchange Commission was also taken aback, he never thought that Citigroup would open its mouth and shut up to ask for $120 billion in aid, if the other party successfully got the money, and then put it into the market to save investors' confidence, wouldn't it mean that the $100 million he invested in the stock market to short Citi would be wasted?

Whether he is speaking for the sake of the consortium behind him or for his own interests, he must clarify his position and resolutely oppose it.

With Cousins in the lead, there were even more voices in the room that criticized Citi's hubris.

"That's right! If Citi had been given $120 billion in relief funds, then we would have just canceled the aid without having a meeting. We don't want all the money we have worked so hard to raise for Citigroup. ”

"Citigroup now at least has a huge fixed assets and a stable source of income, and my seven investment institutions have reached the point of insolvency, if Citi can apply for $120 billion in rescue funds, then I ask for twice as much rescue funds according to the proportion of damage. Unless the entire Coordination Committee agrees with my application, I will refuse to provide this funding to Citi. ”

For a while, all kinds of dissatisfied voices came out, and no one agreed with Citi's plan.

Seeing this, Fed Chairman Ben Bernanke tilted his head and talked to Paulson, "What do you think?"

Paulson shook his head and then nodded solemnly, "Although I don't agree with Citigroup's application for $120 billion in relief funds, I want to make a fact. That is, in the current market, Citigroup has become the vane of the entire financial industry, whether we admit it or not, we must face up to this problem. If Citigroup's share price collapses completely, then the entire financial sector will also collapse along with it. ”

Bernanke nodded approvingly, "That's true, but $120 billion is too exaggerated, unless we agree to apply to Congress to expand the total amount of relief funds, and we can also double the total amount of the first phase of rescue funds to meet Citigroup's needs." ”

After receiving Paulson's affirmative answer, Bernanke banged on the table and shouted, "Ladies and gentlemen, please be quiet. Let's listen to Mr. Walker's explanation of his application for this funding, and then slowly review it. In addition, I have decided to seek congressional approval to expand the amount of relief funding when necessary, and we will make sure that every business that needs it is taken care of. ”

After saying that, he made a gesture of please to Walker, who straightened his collar, coughed, and said, "According to the agreement reached by all of our parties before today, the Federal Reserve Bank of New York will independently authorize the loan limit of $50 billion for Citigroup, which is independent of this rescue project." According to the market assessment of Citigroup and a number of banks, Citigroup has inevitably become a target in the overall situation of the current financial sector. In other words, for every $1 drop in Citigroup's share price, the entire financial industry loses more than $10 billion. If Citi's stock price is allowed to fall to the limit, then the entire financial industry will have a sharp recession even if it does not collapse, and I believe that everyone understands this truth. ”

Although I don't want to admit it, but this is a reality, and even Little John can only smile wryly and nod in approval.

After seeing that no one explicitly refuted his words, Walker added, "The reason why Citigroup is asking for $120 billion in rescue funds is because we have come up with the most scientific calculations." According to the data available so far, the total amount of money that is bearish on Citi and the entire financial industry in the entire market is about the same, about $110 billion to $130 billion. If we can bring Citi's share price back to $35 from $25 now, then the entire financial industry will also be able to pull up the stock price. This would require more than $80 billion or more, depending on the actual share price of Citigroup at the time of the bailout. ”

Bernanke continued, "That's true, this plan has been approved by all our members of the Federal Reserve, and it is true in terms of the amount of money, but Citigroup must raise a large part of its own funds, otherwise it will be difficult to get final approval for this plan." ”

Walker shook his head, "I'm sorry, I'm not done yet. Because this plan was submitted to the Fed half a month ago, and now the situation has changed, according to our internal statistics, in the past half a month, we have lost 2.6 million new depositors, that is, Citigroup is now actually in a stage of extreme recession. It's not that I'm alarmist, but I'm telling you a real fact, that is, if the first bailout doesn't come in on time and doesn't reach the figure I'm talking about, then everyone will have to wait for a new disaster after the collapse of Citi. ”

"Are you kidnapping us?" Little John felt that something was wrong the more he listened, and finally understood that this guy must have understood early in the morning that it was a number of consortiums that teamed up to play Rockefeller, and after the counterattack was ineffective, Walker simply chose to sit idly by, and even was willing to bear part of the loss, to create a situation where Citigroup was crumbling and could not save itself, forcing the Federation to come to the rescue.

"No, I'm just stating a fact. Walker sneered and said, "Now Citi, we are powerless to save ourselves, if we want to maintain the status quo of the financial industry as a whole without collapsing, then the federal and major reserve banks must inject more than $400 billion in rescue funds into Citi, and at the same time, the federal government must come forward to provide all guarantees for debt restructuring!"