Chapter 289: Dechong goes bankrupt and Milken goes to prison

The Cadillac sedan sped away.

Tang Bao leaned back on the comfortable back seat with his head tilted slightly, his eyes slightly closed, without saying a word, and without showing any expression. Kate didn't know if Tang Bao was simply closing his eyes and recuperating at this time, or whether he was thinking about something quietly, and he also remained silent and didn't dare to disturb. And Natalia was just concentrating on driving the car, and Ray, who was sitting in the passenger seat next to her, was also cautiously staring ahead.

For a moment, there seemed to be only a slight sound of breathing left in the car, which was a little depressing.

Tang Bao, who had his eyes slightly closed, was naturally unaware, he was thinking about the problem of East West Bank. Although he had only stayed at East West Bank for less than half a day, he knew from what he saw and heard with his own eyes that East West Bank was far from meeting his psychological expectations.

Suddenly.

Tang Bao opened his eyes, turned his head to look at Kate, who was bowing her head, and asked, "Kate, did you go to the headquarters of East West Bank like this before?" Chatting and scurrying around in the office area during working hours...... And that's just what I've encountered, and there may be more that I haven't encountered. Although Tang Bao did not ask Poulter how to deal with the slackness of the staff afterwards, it does not mean that he does not care about it at all, and in many cases, the mental outlook of the employees can often determine the future of a company.

The company's future depends on people to work hard, and if the employees of East West Bank are as slack as he saw at first, then no matter how much money Tang Bao invests, he will have to play out.

"Hmm. Compared to other companies, East West Bank's staff is indeed a bit laid-back. But I think it has something to do with East West Bank being in a consolidation period. Kate said.

"No wonder I asked you what your impression of East West Bank was, and you were silent? Yes, if East West Bank had done a little better, you wouldn't have been. Silence means that you are not satisfied with their performance. Tang Bao said generously.

"It's normal for the integration period to be a little chaotic." Kate Road.

"Yes, there will be all kinds of chaos during the consolidation period. But East West Bank's headquarters are like this, but what about the outlets below? ”

There was a moment of silence.

Tang Bao's face sank again, and he said, "I have to criticize you here, since you know that East West Bank's performance is so unbearable, why don't you tell me." Do you still care about those messy workplace rules, afraid of offending people? You are my personal assistant. You only need to be responsible for me, you don't need to look at other people's faces! ”

"Oh."

Kai nodded in response.

In fact, she also has difficulties, as Tang Bao's personal assistant, she is an important link between Tang Bao and his company, and she gets along well with the senior management of major companies, and her work will be much better. On the other hand, if you offend a senior executive of a company because of a small report, you will not tear your face in the future. will also secretly hate her, and her work will be difficult to do.

"Boss, I usually follow you, but occasionally I go to East West Bank, Phoenix Investment Group and other companies, and what I see is not necessarily comprehensive. If you want to have a comprehensive and clear understanding of your company, I think it is better to hire a professional regulatory team. Kate suggested.

Well.

Tang Bao nodded lightly, feeling that there was some reason. He has more than one company, and people are a bit lazy. It is certainly difficult to understand the details of the company under his command in a timely manner. If there is a professional supervision team, instead of him to inspect the companies from time to time. He will be able to see the status of all the companies in real time.

But.

To form a professional supervision team, the right person is very important, and it is necessary to take care of the emotions of the senior management of major companies, and not to rush for a while.

Saying.

After inspecting East West Bank, Tang Bao stopped running around. Instead, he lived a relatively leisurely and closed life, except for the occasional business dinner. The rest of the time is basically staying in the villa, studying various materials, planning a more reasonable asset allocation.

Today, he has more than $60 billion in cash and $100 billion worth of Japanese yen government bonds that can be quickly realized.

Tang Bao naturally couldn't tolerate the long-term idleness and waste of these funds. He was looking for new investment opportunities...... This time, his perspective is no longer limited to the United States. It's about looking globally. In addition to the United States, there are actually very rare investment opportunities around the world.

For example, Latin America!

Vinnieburg went to Mexico to snatch a piece of the cake from the bank's privatization. This is a timely reminder to Tang Bao that in addition to Mexico, Brazil, Argentina, Peru and other Latin American countries are also promoting the process of privatization, and they are full of countless opportunities.

Tang Bao knows very well that Latin American countries are very rich in mineral resources. So he's thinking about a business trip to Latin America.

It was during this time.

A big event happened in the United States, that is, the struggling Dechong Securities finally stepped into the bankruptcy court. I don't know what the reason is, the bankruptcy of Dechong Securities was more than three months later than in history.

Before bankruptcy.

Dechong Securities ran around, begging grandpa to sue grandma, but no one was willing to help. The government believes that what Dechong has done is a crime, so it is unwilling to help. The peers on Wall Street are also very indifferent, and none of them have granted credit to Dechong, because Wall Street generally believes that junk bonds have entered a freezing period, and Dechong's junk bonds are "toxic", and Dechong Securities has dominated the most profitable junk bond market for a long time, and has long been hated by its peers. Dechong Securities, which was abandoned by the world, could only be forced to go bankrupt and liquidate.

The day after the bankruptcy of Dechong Securities.

Milken also pleaded guilty to the court, agreeing with prosecutors on six counts, including covering up stock positions, concealing accounting records, and tax evasion, but did not mention serious crimes such as stock manipulation, insider trading, and accepting bribes. Because many key witnesses have either disappeared or died mysteriously, much of the evidence has also been destroyed. Although the prosecutor was very unwilling, he was helpless.

Ultimately.

Milken was sentenced to 18 months in prison, restitution and fines of $1.6 billion, including $400 million in back taxes to the government, $500 million in civil damages, and a fine of up to $700 million to the Justice Department and a 10-year ban on securities.

Milken's prison sentence was much shorter than his history, and he was not banned from the securities industry for life, but he paid a far more fine to the Justice Department, $500 million more than he would have paid in history. This may be that the Ministry of Justice is unwilling to pursue Milken for several years but has not been able to get Milken, so it has increased the fine, let's talk about comfort.

After the sentence was over, Tang Bao went to visit Milken in prison. His mental state was fine, he didn't collapse, and he also thanked Tang Bao for his timely reminder. Although Tang Bao felt that Milken was very lucky, Milken himself was a little unhappy that he was sentenced so severely. Not only was his family property confiscated and he almost went bankrupt, but he was also banned from engaging in the securities industry he was proficient in for ten years.

Tang Bao and Milken talked for more than two hours before leaving.

With Milken's energy, even in prison, he must be more comfortable than many ordinary people. So Tang Bao didn't have much to do.

……

After returning from visiting Milken, Tang Bao happened to meet Winnieberg, who had arrived.

"Boss!"

"Go in and say." Tang Bao greeted with a smile, Winnieberg came at this time, he must have heard that Tang Bao went to inspect East West Bank some time ago.

Just taken a seat.

Tang Bao smiled and asked, "Have you rectified East West Bank?" ”

"Hmm."

Winnieburg nodded awkwardly, he was actually very angry when he was caught up in the company's chaotic situation by his boss when he was not in the company. After returning, he quickly launched a vigorous rectification, and severely punished a group of thorns who refused to change their ways, and the methods were not ruthless.

But in Vieniberg's view, he was merciful not to fire people in the face of a deteriorating employment environment.

"Well, boss, please rest assured, there will never be a similar situation in East West Bank in the future." Vieniburg assured.

"Hehe, it's just a small thing, you don't need to be so serious." Tang Bao said with a smile. "By the way, you went to Mexico for an investigation, what was the result?"

"Hmm. The results are very good. The Mexican government is very determined to promote privatization of banks, and I have talked to senior members of the Mexican government about its willingness to participate in privatization. The other party did not agree, but did not refuse. The chances should be great! Vieniburg explained the situation.

Well.

Tang Bao nodded, and reminded, "I heard that the integration problem of East West Bank has not been completely solved, so you have to be concerned about this." We must lay a solid foundation. ”

"I understand, boss." Vieniburg replied.

"You came just in time, I just went to visit Milken and talk to him about starting an investment bank. Due to the restrictions of U.S. law, investment banks and commercial banks must operate separately. But I think that over time, sooner or later this restriction will be broken. Therefore, you also need to be involved in the formation of an investment bank so that the investment banking business and East West Bank can merge smoothly in the future. Tang Bao said his plan.

"Creating an investment bank?" Winnieburg was surprised.

"Yes."

Tang Bao smiled and nodded in confirmation. After a pause, he reminded: "However, East West Bank is in a critical period of development, and your energy must be concentrated on East West Bank." When it comes to setting up an investment bank, you just need to help you, and I already have the right investment bank CEO in mind. ”

"Understood."

Winnieberg nodded.

Alex is a senior vice president of a Texas auto insurance company. You come forward to contact him and win him over. Tang Bao said.

"Eh, is this the ideal candidate for the boss?"

"That's right!"

Tang Bao smiled and nodded. Alex was just one of three candidates that Milken introduced to him, but he felt he was the best candidate.

……

Veneberg, who accepted the mission, did not stay any longer, returned to East West Bank to prepare, and headed straight for Texas. (To be continued......)