"Asia has opened, and we don't have much time left, gentlemen."

In the conference room on the highest floor of the Kaminari Brothers headquarters, all the directors sat upright in their places in suits, waiting for the final "judgment" with grim faces. As the chairman of the board of directors of Dick. Fude's face was already like ashes, and he seemed weak to speak.

In the past two days, the Federal Reserve and the Treasury Department have gathered the most powerful CEOs on Wall Street to discuss the Kamison Brothers, but they have excluded the management of the Karemon Brothers. Fude was furious. But no matter how big the relationship is, they have no choice but to find out the latest developments in the meeting through Barclays Bank and other acquaintances.

When Consortium Gate finally reached a rescue agreement, they briefly celebrated, but when the news of Barclays' acquisition plan was rejected by the British Financial Services Authority, the entire Kamison brothers fell into a deathly silence, and negotiations with Barclays came to an abrupt end. Now, these well-dressed bigwigs are gathered and waiting for the Fed to give a final answer.

So far, the financial situation of the Kaminari brothers can still support for a while, but it is only for a while, and if there is no injection of foreign funds, sooner or later it will run out of oil. But there is a glimmer of hope in the hearts of those here that the Fed will be able to pull them up at the last minute, just as they did with the "two rooms".

Because once bankruptcy is declared, the market value of the stocks of everyone here will be wiped out in an instant, and these are all units in tens of millions or even billions of dollars, and no one will give up so much wealth lightly.

It's just that they don't know that in the eyes of Paulson and others, their behavior has become a sign of outright greed. Because their president, McDaunt, knew the proceedings best, Paulson had in Paulson's mind if the Kaminmen brothers were interested. It has now been declared bankrupt.

It's just that Paulson didn't think that McDart had lost ground in the company's infighting. Fude put all the blame for the Kaminari brothers' exclusion on the president, so much so that the people on the board didn't believe what he was saying now.

Left and right, the Kaminari brothers have not yet declared bankruptcy. Paulson had to order Cox, the chairman of the SEC, to make a phone call and order him to enter bankruptcy proceedings immediately. Because on the side of the Federal Reserve and the Treasury, the relevant press releases have already been drafted, and even the negotiations between Merrill Lynch and Bank of America are coming to an end.

"Bell bell bell ......"

The call that the Kaminarimon board had been waiting for finally came.

The call came to the conference room on the conference phone and turned on the speakerphone, except for Dick. Everyone outside of Fude listened with bated breath, waiting for the Fed and Treasury Department's final verdict on the Kaminari brothers.

"Hello Chris, I'm Dick. Fude. "Dick. Fude greeted first, and then introduced the situation here. "The board of directors is in session, every director is there, the company's advisors and lawyers are there, and we are waiting for an official answer."

"The official answer? Isn't the official answer an early warning to you? "Chris. Cox was a little surprised that he didn't answer the question, but he reacted immediately and said lightly, "Gentlemen." Since you still have questions, I repeat them on behalf of the Treasury and the Fed. The bankruptcy of Kaminarimon will help stabilize the Dìng market and be beneficial to the country's financial system as a whole. The SEC, the Treasury Department and the Federal Reserve have all agreed that Kaminmen Brothers should file for bankruptcy protection. ”

"Why does letting Kaminari Brothers go bankrupt helps stabilize the market?"

As soon as Cox's words fell, a director of Kaminari immediately jumped out and asked, "I really can't see where the dìng market can be stabilized?" Opposite. I think if Kaminari Brothers declares bankruptcy, the whole market will be violently shaken. ”

"The market is already in a violent turmoil!" Cox did not hesitate to deny this question, "The government has to take a qiē into account, and the Kaminarimon bankruptcy is one of them." As you should know, we have done our best to rescue you. In the event of no success in the rescue. It is the consensus of Wall Street that allowing Kaminmen Brothers to enter bankruptcy protection can stabilize the market in the shortest possible time and to the greatest extent. ”

A vague answer doesn't explain the problem at all. But Cox revealed an important message, that is, in the current situation, Wall Street institutions want Rehman Brothers to go bankrupt.

This means that they have lost most of their counterparties.

The directors discussed and then asked a few more questions, but all they received were specious answers. Although they are tempted to ask Cox, what do the Fed and Treasury think, and why sacrifice the Kaminhamon brothers? But where will Cox dwell on these issues, all he needs to do is officially inform the Kaminari brothers that you are finished!

As for why, don't ask! It's a vain question to ask!

"Can I understand that this call is the government instructing us to go bankrupt?" Dick, who was silent for a long time. Fude finally spoke, and the sentence hit Cox directly, "If that's the case, we'll execute it immediately." ”

As a standard politician, how could Cox give the other party a handle in such a place, knowing that between the two outcomes of the Kaminhamon Brothers' board of directors deciding to go bankrupt or the U.S. government's request for Remonbrothers to go bankrupt, although both are bankrupt, the impact on the outside world is very different. Naturally, it is impossible for him to let the government carry this black cauldron.

"It will be up to the board of directors of the Kaminari brothers to decide whether to go bankrupt or not, and the government can't help you make such a decision!" Cox flatly denied it, his tone full of dissatisfaction and indifference, "But the government and the Fed have already expressed their position to you, and the specific decision will be up to you." ”

"So, you're not here to force us into bankruptcy?"

Dick. Fude is still unrelenting, as the largest individual shareholder, he naturally will not compromise on this matter, because the relationship of interests makes him hot-headed, and even uses a threatening tone.

"I'm done with what I'm going to say, so be it!"

As the chairman of the SEC, where can Cox put up with this threat? What's more, he was originally a microphone character, even if the other party questioned it, he asked the wrong person. At this time, the displeasure in his heart had piled up to the peak, and he no longer had the heart to chirp with these profit-hungry people. Hung up the phone bluntly.

"Doodoo ......"

Hearing the voice on the phone, the directors of the Kaminari Brothers looked at each other and were speechless. And at the moment when the phone was hung up, Dick. Fude also came to his senses completely, he was dumbfounded, and his head hung deeply.

It seems that bankruptcy is inevitable?

It's clear to all. The government has unparalleled influence in this matter. If they don't do what the government says, God knows what will happen. If nothing else, let's just talk about the funds lent by the Fed to the Kaminari Brothers, as long as the Fed withdraws the funds, the Kaminari Brothers will immediately fall into a paralyzed situation.

It seems that the only way left is to vote on whether to decide to go bankrupt, and the government's warnings cannot be ignored.

"We screwed up!"

After a long time, Dick. Fude came to his senses from his frustration, and when he looked up at the directors who were obviously depressed, his eye sockets were already red. "Thank you, gentlemen, for working with me for many years. Now, let's go to the poll and decide if Kaminari Bros. needs to file for bankruptcy. ”

After saying this, the tears in his eye sockets could no longer be held, and they dripped down his face.

This company condenses his profession, his youth, his qiē. From a newcomer to the final chairman. From an independent investment bank to being acquired and then spun off on its own, Dick. Fude is with a lot of people here. I have been working hard for this company for decades, and today, this qiē is coming to an end.

Just a few hours ago, the Kaminari brothers had the last chance to redeem themselves, but unfortunately the British government denied this opportunity, and so the Kaminari brothers came to the last desperate situation.

Although the directors present had been similarly prepared. But after all, when it comes to this moment, there are still people who can't accept it. However, they naturally do not cry like a woman, but many people still secretly shed tears.

Agree to go bankrupt!

The result of the voting was not surprising, and after everyone gave a testimonial, the meeting entered the voting session. All voted to agree to go bankrupt. It's close to the early hours of the morning, and the rest of the matter will be sent to the court by the bankruptcy lawyer, who will send the application for bankruptcy protection overnight, and early tomorrow morning, the whole world will know that the Kaminami brothers have declared bankruptcy.

At about the same time, negotiations between Merrill Lynch and Bank of America came to an end, and Bank of America will acquire 100% of Merrill Lynch's shares in a share swap, at a price of $29 per Merrill Lynch at the price of the most recent trading day.

On Monday, September 15, 2008, the news of the Kaminari Brothers' bankruptcy shocked the world with the news that Merrill Lynch had been acquired by Bank of America. Wall Street's investment banks instantly reduced the number of independent two.

Compared with the acquisition of Merrill Lynch, the news of the bankruptcy of Kaminman Brothers hit the global market like a nuclear bomb, because it was the first major financial institution to go bankrupt, breaking the rumors that had been circulating in the market that it was too big to fail.

On the same day, affected by the news of Kaminarimin's bankruptcy, financial stocks in the global market were generally lower, and the Dow Jones Industrial Average fell 504 points, or 4.42%. The Nasdaq fell 81 points, or 3.6%. The S&P 500 fell 59 points, or 4.71%, its biggest one-day drop since the September 11 terrorist attacks. The Financial Times index fell 212 points, or 3.92%.

The subprime mortgage crisis was also well known to the general public on this day, and the resulting crisis also reached a new level on this day. This qiē has to be attributed to the previous work done by the Federal Reserve and the US Treasury, including becoming a leveling fund, issuing statements to stabilize the market, etc.

But even so, the adverse effects of the Kaminmen Brothers bankruptcy inevitably affected the entire world economy: oil prices fell in response, as investors worried about the prospects of the US economy were long-standing and strong; As the price of oil fell, so did the commodities of other commodities; CDOs and CDSs are beginning to enter the public eye, and there is a lot of noise about the re-evaluation of the value of these derivatives, which in turn will lead to a re-evaluation of the value of stocks in the market, which will directly affect the cost of financing, and with it, a re-estimation of profitability, as the stock market will also face a new round of reshuffle.

On this very day, the President of the United States had to speak out because of the Kaminmons Brothers, making a statement about its bankruptcy, declaring that it would have a severe impact on investors, the American economy and employees in the short term, but it would help the long-term adjustment of the American market. But his words did not help the confidence of investors in the slightest, and the panic in the entire market reached a new height.

Deutsche Bank plunged 8.12%, Barclays plunged 14.7%, Royal Bank of Scotland plunged 11.34%, and UBS crashed 17.92%. These commercial banks have fallen victim to the Kaminari bankruptcy, and the market is speculating about who will be next?

So far, only two of the five major investment banks on Wall Street have been independent, Goodman & Co. and Stanley & Co., will they be next? (To be continued......)

PS: PS: This July has passed so quickly, and looking back on the book, the situation of this month is really miserable...... There will always be some annoying things in life that affect the state of writing a book, this month's effect is not very good, it may be caused by the author's own state is not good enough, maybe everyone's enthusiasm is not high enough because the author's enthusiasm is not high enough, the author should adjust the state is, continue to work hard next month! I would like to thank all the book friends such as Romantic Snail, linhuang_200, Light Fish, 9316 National Day, Brother Zhao, Prodigal Son Xuanshao and so on for voting for the monthly ticket! Thank you for another reward from the book friend Xiaoqi Civilization Miracle! At the end of the month, everyone's support in the past few days is very strong, thank you very much~ I hope the results of this book will improve next month!