Chapter 842: Lehman Crisis
    Actually, Morgan has been dissatisfied with Lehman for a long time, and the main reason is that some of Lehman's top brass have a close relationship with the current top Republican Party and the main presidential candidate, McCain.
    As we all know, the relationship between Morgan and the Democratic Party of the United States has always been very close, because in the most fundamental original purpose, the Morgan family is a Jewish family after all, and in the last few hundred years, the life of Jews in Europe has not been very good, but it was only after World War II that it was a little better, so the Morgan family is more appreciative of the Democratic Party that pursues tolerance, equality and charity.
    Although the Democratic Party was actually founded with the support of the Rockefeller family at the earliest, Morgan was the closest big consortium to the Democratic Party in the later period.
    Of course, they are not only betting on the side of the Democratic Party, but they also have a lot of investment on the Republican side, so they have been able to live forever in the political and economic circles of the United States for more than 100 years.
    In fact, the main reason for getting Lehman this time is related to the US presidential election that is in full swing this year.
    Since the outbreak of the economic crisis last year, JPMorgan's two banks, JPMorgan Chase and Morgan Stanley, have been seriously affected, especially Morgan Stanley, which is mainly engaged in investment.
    In fact, over the years, Wall Street has been playing the largest one of the initiators of subordinated debt is Morgan Stanley, as early as the thirties of the last century, this investment bank has been a monopoly on Wall Street, and then in the eighties Goldman Sachs relied on officialdom relations, began to rise rapidly on Wall Street, and only took a few decades to become the new favorite of Washington, which made Morgan Stanley very tasteful.
    But decades of business are not in vain, even with fierce competition from Goldman Sachs, but Morgan Stanley has always been an evergreen on Wall Street.
    Even among the so-called five major investment banks, there are two such as Merrill Lynch and Lehman with Morgan Stanley as the settlement bank, which shows the great influence of the Morgan consortium on Wall Street.
    After the outbreak of the financial crisis. Morgan Stanley bore the brunt of the blow and lost some of the most money among many investment banks, but they have close ties to the U.S. government, and they have been one of the black hands controlling the Fed. So they soon rushed to the Fed to get the corresponding bailout, and after getting sufficient financial resources, Morgan Stanley gradually recovered.
    But when he looked around, he found that Wall Street was already in a mess, and in order to get out of the quagmire as soon as possible and rectify the order of Wall Street, they had to resort to tough measures. Swallowed Bear Stearns, and also had an eye-to-eye with the Italians, intending to sell Merrill Lynch.
    In this way, Lehman Brothers, who have always regarded themselves as Morgan's younger brothers, can't sit still, and now it seems that the boss is very unreliable, so Lehman began to use his crooked brains, intending to stand on his own.
    They intend to defect to McCain, the Republican presidential candidate, and once McCain can take over Bush's position, they will benefit greatly from this political speculation. The most important thing is to get rid of Morgan's control over them.
    So shortly after being swallowed by Morgan at Bear Stearns in February this year, they began to flatter Republicans frequently, and repeatedly gave people a look. Whenever McCain made an important speech, they would always release some data in time to show their support for the candidate's arguments, which put McCain in a leading position in the polls against the Democratic candidate, Barack Obama.
    This is very annoying to Morgan, you must know that although Obama was nominated by the Democratic Party last year, some of his arguments, the Morgan consortium is very appreciative.
     In particular, Obama emphasized the elitist rhetoric, emphasizing that the US economy has not yet recovered from the subprime mortgage crisis, so the government needs to protect those companies, and health care needs to be reformed. Improving people's livelihoods, withdrawing troops from Iraq, etc., these slogans are very much to Morgan's taste.
    Especially the government has to escort the quotation of enterprises, so that the government can blatantly subsidize large conglomerates like Morgan with taxpayers' money, which is a good thing!
    In contrast to McCain's argument, that guy has been claiming that the U.S. economy is improving. The economy is getting out of the predicament, once he is elected, he will drastically reduce the government's support for major financial companies and enterprises, but also strictly control funds, and will also strengthen the supervision of financial management, the most important thing is that this guy not only does not want to withdraw troops from Iraq, but also wants to go to Iraq to recruit troops.
    Although this guy's argument made the vast majority of ordinary people who gritted their teeth on Wall Street happy, it undoubtedly angered Wall Street bigwigs, especially the major financial consortia led by Morgan.
    What do you mean? We want to cut off our food and grass, and we have to strengthen our supervision, and the most thing is that you don't want to withdraw your troops from Iraq yet, who doesn't know that you Texans have a close relationship with the arms conglomerate, and you have a fart advantage for you to beat up us in Iraq?
    So the people of the Morgan consortium are annoyed, and some other consortiums on Wall Street are also annoyed by the rhetoric of this Republican candidate, what do you mean, are you going to declare war like the whole Wall Street?
    But the key is that at this time, Lehman actually jumped out to support McCain's argument, the most odious thing is that this is not once or twice, whenever McCain's bastard gives speeches in various states, saying that the U.S. economy is improving, Lehman's gang of bastards will release some data in his favor, such as today's XXX index has increased slightly, tomorrow's XXX industry is recovering, etc., These arguments put McCain ahead in the polls by a fraction of Obama's.
    You must know that Obama is the elite that Wall Street admires, and it will not do Wall Street any good if he continues to do it like this.
    So Morgan had the idea of getting rid of Lehman, but unfortunately Lehman's side wanted to get rid of him and it was not particularly easy to deal with, and this matter needed a very strong foreign aid to do.
    After all, Morgan has swallowed Bear Stearns alive, and Goldman Sachs is now struggling with the prosecution of Bear Stearns and Merrill Lynch, so there are not many people who can afford to take over Lehman now.
    Those foreign banks, Morgan thought about it or forgot it, after all, now those capable European banks are also in dire straits, among which Barclays wants to take over Lehman, but considering its Barclays background, Morgan still thinks forget it, how can they let the people of the Red Shield family reach into the United States again.
     Then now you need a clean and wealthy partner, and finally choose to choose, they fell in love with the company Thunderbird, this subprime mortgage crisis This company is not only not damaged in the middle, but is making a lot of money, such performance can be hidden from others, but how can it be hidden from Morgan?
    And the most important thing is that the person who talks about this company seems to be a new member of the Republican Party who supports Obama, so Morgan contacted Alice several times, and finally decided to meet Jin Xiaoqiang behind Alice.
     Now Huayang Power is amazing, with the success of the World Games, their reputation in the automotive industry is getting louder and louder, and the Celestial Empire government has a close relationship, who doesn't know if you want to get rich if you have to go to the Celestial Empire?
    So Morgan's people got in touch with Jin Xiaoqiang, and finally everyone agreed that everyone had a responsibility to clean up Lehman's affairs this time, and the cooperation was pleasant.
    If Thunderbird's acquisition of Lehman is successful, then Morgan will give up Lehman's market in North America in the future, and on the other hand, the two sides will form a new investment institution to enter the Celestial Empire and invest in projects......
    In 1994, Lehman Brothers was officially listed on the New York Stock Exchange through IPO and became a public company, in 2000, Lehman Brothers was in high spirits, and on the occasion of the 100th anniversary of their company's establishment, their stock price exceeded 100 US dollars per share, officially becoming an upstart in the S&P 100 index, and in 2005, their total assets reached 175 billion US dollars, not only was the S&P adjusted its credibility to A+, It was also named Investment Bank of the Year by the European Central Bank.
    But it is precisely because of the previous arrogance that they lost today, and in 2007, because of the large number of subordinated bonds, their assets have expanded to 800 billion at the peak, but after the subprime mortgage crisis broke out last year, their assets shrank rapidly, and after losing more than 100 billion US dollars, there are only 639 billion US dollars left, which is still a large part of toxic assets. That's some of the subordinated bonds that are maturing for repayment.
     They got $45 billion in bailout from the Federal Reserve last year through Morgan's connections, and they regained a foothold in the market, but if they can't afford to repay these bonds, then what awaits them will be the end of bankruptcy.
    So recently Lehman needed a $4 billion loan, but their big brother Morgan was silent, and they went to the Fed with an ambiguous attitude, and the top management of Lehman Brothers certainly knew what the problem was.
    It is obvious that they have some collusion with Republican candidate McCain, which has angered the big brothers on Wall Street, but they have already gotten on the Republican thief ship, where can they go back, the cowboys and rich people in Texas are not so easy to offend.
    So at this time, Lehman Brothers is looking for their major shareholders to raise funds, and most recently the Korean Industrial Bank, they hope to get a sum of money from them for emergency ...... (To be continued.) If you like this work, you are welcome to vote for recommendation and monthly passes, and your support is my biggest motivation. )