Bob. Dimon was very happy and set off from Heathrow Airport to New York early in the morning with a negotiation team of dozens of people, which is only the vanguard of the negotiation team, and there will be fifty or sixty people coming one after another, and the whole team may reach hundreds of people.

The reason why the Fed made a "request" was naturally that Barclays did not want to give the market the impression that it was taking advantage of the fire, but in fact they did so.

On September 7, three days before the Kaminari Brothers' press conference, Paulson announced that the government would take over Freddie Mac and Fannie Mae, and the rumors that had been going on since July were finally confirmed. This is a big event that has caused a stir in the entire market, because this is the first time that the U.S. government has directly bailed out the market, using the method of escrow (injecting national credit) to support a joint-stock company.

The market has been discussing this, and public opinion has also formed two camps with clear and opposing views. Whether or not the market needs to be bailed out has become a key point of debate, and Paulson is under intense pressure.

But for Dick. For Fude, this is a clear signal, that is, "too big to fail"! The government had to bail out because it feared that the collapse of large financial institutions would cause huge shocks in the market. If that were the case, the government would not have let the Kaminari brothers go unchecked.

So during this time he frequently called Geithner, Bernanke, and even Paulson, hoping to hear good news from them. Sure enough, Barclays from the United Kingdom also joined the bid for the Karemon brothers.

But deep down, Dick. Fude was still willing to make a deal with Bank of America, knowing that his connections were limited to Wall Street, and if Bank of America had bought Kaminhamon Brothers, he might still be a partner. But if the British bought it, he had no idea what his future would be.

He didn't know what was going on and even gave Ken. Lewis made a congratulatory phone call and asked Ken. Lewis couldn't stop laughing.

……

"Our men are already in New York, and they will be in contact with the Kaminari brothers to review their materials."

At the bustling JFK Airport, Bob. As soon as Dimon got off the plane, he couldn't wait to give it to Henry. Paulson called. "But Mr. Minister, Bank of America is said to have been involved in the Karemon Brothers' bid, which means that we at Barclays are not the only bidders, is that true?"

"Yes!" Paulson said bluntly on the phone. Bank of America was also interested in the Kaminari Brothers' assets, so it also participated in the bid for the Kaminari Brothers. Bob, I'm sure you already know about it from the newspapers. What, what's the problem? ”

Paulson, Bernanke, and others have the best knowledge of the current situation of the Kaminmen brothers. Willing. Lewis and Bob. Dimon contacted him directly and did not contact Dick Brown, the chairman of the Karemon brothers. Fude, this has to be said to be an aggressive thing. Paulson knew very well that they were all betting on the government's bailout of the Kaminmen brothers.

But Paulson is also well aware of the pressure he has been under during this time. The Speaker of Congress has made it clear that they will not approve any proposal to save Wall Street. That is, if the investment banks on Wall Street are in trouble, the government can only watch the fire from the other side, and will never hold custody again like the "two houses".

Speaking of the feud between Barclays Bank and Bank of America, it is needless to say that it is in the acquisition of ABN AMRO. Barclays sees Bank of America as a troublemaker for playing a dishonorable role in the acquisition. So after hearing that Bank of America also intervened in the Karemon brothers' bid, Bob . Dimon felt that the other party might be playing the role of price gouging.

"Is Bank of America really planning to buy the assets of Kaminhamon Brothers?" Dimon thought about it carefully, and asked in a calmer tone as much as possible, "Or is there something else going on?" ”

Although the question was very vague, it still caused Paulson's displeasure, and he said unhappily, "Mr. Damon, while you are talking to me, the people at the Bank of America are negotiating with the people of the Karest brothers. I think. Mr. Damon, should you speed up the process, and if the Kaminhamon brothers end up in the hands of the Bank of America, don't blame me for not warning you. ”

Bob. Dimon naturally heard Paulson's displeasure. His mind raced, and he thought about it, but he still couldn't tell if Bank of America was a trust or if it was really interesting to the Kaminari brothers. But now it is clear that he is unlikely to get more information from Paulson, and he decisively changed the subject:

"Dear Mr. Minister, because we had some business friction with Bank of America before, we don't want to lose to him this time. This time we are determined to win. But now there is a problem, although we are very interested in Kaminari Brothers, if the price of Kaminari Brothers is beyond what we can afford, we have figured out another model to trade. In short, we really want to buy Kaminari Brothers. ”

"What mode?" Paulson was very interested in Dimon's statement, but he did not let his guard down, and now there are too many people who want to use the Fed and the Treasury, "If we can, we will try to find a way to help you." ”

Paulson didn't say anything to death, and being able to broker a deal with the Reminmen Brothers at this time would be one less of a nuisance for him, and wouldn't cause too much shock to the market, which was the effect he was looking for.

"Bear Stearns, we want to trade the Bear Stearns way!"

Bob. Dimon was not polite at all, without any hesitation, and made a straightforward request.

It is important to note here that although Bear Stearns was eventually acquired by JPMorgan Chase for $10 per share (in fact, it was a swap), the fact is that the Fed injected liquidity into Bear Stearns to avoid Bear Stearns' eventual bankruptcy. It was also the first time since 1929 that the Fed provided emergency funds to non-commercial banking institutions.

Barclays' wishful thinking is that if the Fed can inject liquidity into Barclays as it did with JPMorgan Chase, then they will go all out to buy Kamison Brothers. Because with the backing of the Federal Reserve and the Treasury, Barclays' liquidity will never be questioned by the market, which is very beneficial to them.

It's just that Barclays' wishful thinking has mistimed, and if the U.S. government has managed the "two houses", maybe this strategy will still work, but at present, the voices questioning Paulson's bailout are at an all-time high, and the parliament has put strong pressure on the Treasury Department and the Federal Reserve.

"No, it can't be!"

Paulson categorically vetoed. But the next moment, he probably realized that his tone was too harsh, and softened his tone and said, "Mr. Damon. It's no longer possible to figure out how to get liquidity in this way. But we'll help you figure it out and help you find some outside help. ”

Although not too satisfied, Bob. Dimon knew that was the only way to go. As long as you have access to liquidity, it doesn't matter where you come from.

……

Paulson, who hung up the phone, immediately dialed Geithner, who was now in Louisiana. Deal with the Fed branch over there.

"Timothy, we're in trouble." Paulson's voice was quick, with a hint of helplessness in his tone, "Barclays asked the Fed for liquidity, but I refused. Counting Bank of America, the two only market buyers have already made one request after another, which really annoys me. ”

"They ask for liquidity?" Geithner was silent for a long time, and he was also very troubled, and the media was still holding on to the "two rooms" issue, even if he could get the support of parliament in this case. Paulson and Bernanke are unlikely to inject liquidity into the Kaminmen brothers, let alone the current situation, "So, Henry, what are you going to do?" ”

"I'm going to form a consortium of consortia, and each family will take out a part of the liquidity, and the funds to rescue the Kaminari brothers will be spent from this." Paulson thought and thought about it, and came up with such a solution, "Only in this way can we get liquidity." It's just that this plan requires the consent of all parties. I guess this one will be a bit of a hassle. ”

"This ......," Geithner hesitated for a moment, "are we going to scare the investors away?" So far, the only two institutions are counting on the will of the government and the Fed if they learn that the government may not do it. They will run. If the bidding is not satisfactory, then in the end the Kaminari brothers ......"

"No, we can't save the city again!" Paulson put it bluntly, "They have to know that if they can't save themselves, the market is going to be a mess." Wall Street needs to save itself. Instead of waiting for the government to come and help. We can't afford to take the political risks, and I don't want to be called 'Mr. Rescue'. ”

Geithner knew he couldn't change Paulson's opinion, so he could only say, "Okay, I'll call those guys on Wall Street and see what they think." On Friday, I will convene them for a special meeting in New York to discuss the details and proposals. ”

……

In the evening, as Paulson expected, he received a message from Ken. Lewis's phone. The CEO of Bank of America has always been so well informed.

"We have carefully reviewed the Kaminari brothers' situation. Without the government's support, it would have been difficult for us to move forward. "We can't do it, their assets have shrunk too harshly, and it's hard to reach an agreement on the price with the people on the Kaminmen brothers." If we insist on acquisitions, it will put our American banks at great risk. ”

Paulson was well aware of the purpose of the call, but by this time he had already decided not to use government funds, so he was not moved at all, but only considered the latest situation and gave Ken a call. Lewis put it another way.

"If you have any problems with assets, and we can help, don't bother to sue me now, and I'll figure it out for you." Finally, Paulson said.

"What?" Willing. Lewis was very surprised, and he didn't know if it was true or not, "Henry, I remember you said that the government's funds would not be involved in this transaction. Now, what's going on now? ”

"It won't be government money!" Paulson said lightly, "We intend to form a consortium to provide to the institutions that acquired Kaminari Brothers." If Bank of America is going to buy Kaminmen Brothers, this funding is our support for you. ”

"Will there be such a good thing?" Willing. Lewis wanted to laugh, but he didn't dare to laugh out loud because it was a great disrespect to Paulson, "Henry, this plan is not what we want. ”

In fact, similar programs are not without prior knowledge, as was the case with the 98 plan to save Long-Term Capital Management. But Ken. Lewis could see at a glance that the current situation was still different from the original. What started out as a way to absorb the position of a long-term capital management company to avoid shocks to other consortia is now an attempt to save an investment bank with the aim of acquiring it. So for the bidder, Bank of America, this is a deal that enriches itself. And other consortia will never stand idly by and watch Bank of America do such self-serving things with their own funds. Although the will of the Treasury and the Federal Reserve is not to be violated, they will certainly put forward some harsh conditions.

But again, Ken. Lewis wouldn't have said anything to death, "But Henry, if this plan works, we'll still make a bid on the Kamina brothers." (To be continued.) )

PS: Thank you to the book friend Nanquan 99, Xiaoqi Civilization Miracle, Zhou Shao, and rest assured that they voted for the monthly ticket! I'm sorry it's late, I hope you'll forgive me, for the sake of the author's hard work on such a hot day, I hope you understand the author's difficulty, and be able to support this book more, the author is grateful~xh118R1052