Reinventing the Millennium.

Chapter 921 Business affairs (4k)

Lehman lost a lifeline from Britain.

This made Fang Zhuo let go of his last worries.

The economic downturn is not easy for anyone, Barclays Bank, don't make trouble for you.

Due to the time difference, in order to spend the last long time with Lehman, Fang Zhuo, accompanied by Huo Qigang, appeared at Christie's Hong Kong auction house on weekend nights, and bought a piece of Wen Zhengming's "Nanhua Jing" in lower script for a small price of 1500 million.

Later, he even appreciated the original work of Song Huizong "Lin Tang Huaisu Madonna" specially invited by the Huo family from a friend. This is the work of Song Huizong's imitation of the great calligrapher Huai Sufatie, which was auctioned in April this year. The sky-high price of 4 million Hong Kong dollars.

Fang Zhuo really likes calligraphy.

When this love is beyond words, "Lintang Huaisu Madonna Post" has the favor of original price transfer.

Fang Zhuo hesitated for a while, but he still felt that it was enough to have an eye addiction.

Although Huo Qigang is a young man from the Huo family, he has socialized before. He met more frequently during the Beijing Olympic Games in August. He also has a girlfriend who is an Olympic champion. They communicate more casually.

He could see that Mr. Fang was really tempted, the kind of tempted to buy it when he said he would buy it.

"Mr. Fang, if you go back on your word, I can still go in and get it out for you now." Huo Qigang was still talking about this when he sent Mr. Fang out of the house.

Fang Zhuo sighed: "Oh, I really like it if I like it, but I have a principle when it comes to shopping."

Huo Qigang listened curiously.

"When the period of my hesitation is not enough for me to earn the money to buy something, then I won't buy it." Fang Zhuo is not without regrets. .

Huo Qigang never expected that such a standard of measurement would mean that a sports car disappeared after he delayed Mr. Fang's meeting.

Fang Zhuo looked at Huo Qigang a little sadly, maybe a day or two later when he saw the words, the result would be completely different.

Huo Qigang put away the slightly weird feeling in his heart, and made a joke that he never thought he would be able to play with the richest man in the mainland: "Mr. Fang, then make money well, and there will be opportunities in the future."

Fang Zhuo laughed loudly, and said with emotion: "Yes, we still have to work harder to make money."

The car is in front of you.

He said goodbye: "Tonight I can see the authentic works of Emperor Huizong of Song Dynasty, and I am already satisfied. When I have time, I will visit my place in Shencheng."

Huo Qigang responded and waved off Mr. Fang.

Fang Zhuo, who got into the car, was still reminiscing about the treasures of calligraphy in his heart. He had been waiting for a long time for the latest information compiled by the secretary.

He flipped through it casually, still struggling in various ways.

However, the reason for the rejection of the Barclays Bank acquisition is also the reason for the scruples of various Wall Street institutions. Is it safe enough to rescue Lehman at this time?

Even if one Lehman is saved, are there still Fengman, Yuman, and Dianman behind?
And, does the financial market with increased turmoil also have a great risk of being ignited by "Taman"?

In the first half of this year, the unprecedented termination of CDS reduced the trading volume of CDS by US$17.4 trillion, and the large US insurance company AIG has been holding a large number of CDS positions, which makes various institutions extremely worried about CDS risk exposure.

The information in Fang Zhuo’s hands came from different sources, including NYSE, Big Short, and MIGA Fund. They all used different data and reasons to look down on Lehman’s last struggle at this time.

This can be regarded as a small microcosm of market confidence.

Along the way, Fang Zhuo was thinking about various financial data and analysis and judgments in his mind, but instead he considered the more profound impact of economic changes in the nearby hotel.

It is now September, and the election situation in the United States this year has been revealed. It is either the Republican McCain or the democratic O'Neill.

Although O'Neal beat Hillary, he still trails McCain in this month's polls.

At this time, the turmoil brought about by Lehman's death will undoubtedly intensify the public's expectations for "reform".

It is worth mentioning that McCain admitted in the primaries that he did not know much about economics. He relied on his richer political experience. The economic team was Greenspan, who had a lower reputation. He complained that the public lacked confidence in the economy and therefore resigned. Graham is the female president of Hewlett-Packard, Fiorina, who openly said on TV that McCain can be the boss, but can't be the president of a big company. She has also disappeared.

The economic advisors on Xiao Ao’s side... Rubin and Summers who contributed to the economic prosperity during the Clinton era, former Federal Reserve Chairman Paul Volcker, who has been fully affirmed for his anti-inflation achievements in the last era, They're all economists.

And, Fang Zhuo is sure that Geithner is also Xiao Ao's person, and Paulson on stage has a lot to do with these names.

If Lehman hadn't died at this point in September, could Xiao Ao have successfully counterattacked and appeared on stage in November?

Fang Zhuo pondered over this issue, and felt that it was more or less a factor. As for what kind of smooth sailing and making the best use of the situation existed, it would be difficult to assemble the outline.

He just suddenly had a deeper understanding of "the economic base determines the superstructure".

"I've found that being able to make money is a really valuable ability."

Seeing the hotel, Fang Zhuo put down the documents and thoughts in his mind, and sighed.

Secretary Liu Zonghong heard the boss's sudden voice, and echoed in surprise: "Of course, Mr. Fang."

Fang Zhuo smiled and said, "Has Austin called?"

Liu Zonghong shook his head and said, "No."

I don't know whether Geithner suddenly felt unwell or fell into a more busy state. After the previous hung up call, not only Geithner, but also his spokesperson Austin, who is keen to deliver first-line news, did not move.

Fang Zhuo didn't have any extra worries about this. In the next period of time, making money is a precious ability, and having money is also a rare resource.

Geithner had previously thought well of Lehman's toxic assets.

With this change in the situation, there will soon be an opportunity to help get money to detoxify.

"Don't bother me until noon tomorrow, I want to study Wen Zhengming's calligraphy." Fang Zhuo calculated the time difference between the two places and ordered the secretary.

Liu Zonghong knew what the boss was waiting for, so he just nodded silently.

The night was dark.

I don't know how much information is being passed around the world, and how many people are in panic, anger, and fear.

When the new day of Xiangjiang arrived, the head of Lehman Brothers stood at the gate of the Lehman headquarters building at 15 o'clock in the morning on the 1th in New York, and faced the rushing media and announced the resolution of the board of directors. Lehman Brothers Investment Company submitted to the federal government Filed for Chapter 11 bankruptcy protection.

From this moment on, Lehman became the largest investment bank bankruptcy in U.S. history.

The amazing news made the world boil!

Because it was still early in the morning in the United States, it was Huaxia Big A who was in the afternoon and gave an immediate response.

Big A plummeted 4.5%, close to 2000 points big...huh?

2000 mark? ?

That's right, before the financial crisis caused by Lehman hit, Big A had almost fallen first along with the global economic situation.

Last year, Big A once rushed to 6124 points, and this year it reached the highest point of 1 points in January, and then fell all the way, breaking 5499 to see 5 to 4 to 3.

Even if the financial crisis hits, it will only drop a few hundred points at most before it can't fall.

The Hong Kong stock market, which fluctuated with the U.S. stock market, plummeted 6%, causing various institutions to cry!
Lehman files for bankruptcy!

The US authorities have not come up with a solution!To sit back and watch Lehman go bankrupt!

From south to north, from west to east, Fuld's official announcement broke the common perception that the US government would not let it go!Market worries are extremely intensified!All the major rating agencies began to assess this emergency in unison!

Fang Zhuo, who lives in Xiangjiang, can no longer appreciate Wen Zhengming's calligraphy.

He carefully put away the letter and started to work after Lehman filed for bankruptcy.

Kong Yu's phone call was the first to come in after the official announcement. It was still early in the morning, and he didn't plan to sleep tonight. Lehman's current wave was in the logic of short-selling, and it really came to an unexpected end. Bankruptcy step.

The MIGA Fund's funding for the two companies has already been closed, while Lehman's has waited until the end.

Kong Yu begged his boss to consider whether he could fly to America.

He is both making money and being afraid. Although he uses various nesting, mortgage guarantees, and customer relationships to cover up the direction of funds, it is difficult to penetrate the relationship between different companies and funds, but the scale involved is too large, and there is really no sense of security.

"Don't worry, your clients will protect you." Fang Zhuo is very sure of this, besides, everyone is busy dealing with the impact of Lehman's bankruptcy now, and there is a bright face like John Paul Sen's short-selling fund is in the way, and the MIGA fund will not attract too much attention.

He added: "Wait for a few days to stabilize before I go to the United States, first let us see what happens."

There is a time difference between Xiangjiang and the United States, and sometimes it is really inconvenient. It is better to come to the scene in person, so as not to miss the opportunity to be a vulture.

Kong Yu took a deep breath, isn't the boss also afraid of danger?

The call with Kong Yu ended, and soon I received a call from Geithner.

Calculating the time, Geithner's indifference lasted a full 32 hours, which is really not short.

His call was very simple, and he had only one purpose, which was to get Mr. Fang to come to the United States.

Fang Zhuo said the same thing even when facing Geithner—let's see what happens first.

what will happen...

New York time, on September 9, the Dow Jones Industrial Index plummeted more than 15 points, a drop of more than 500%, and other stock markets around the world were also affected by the decline.

Soon, all major rating agencies downgraded the credit rating of AIG, which held a large CDS position, and these rating downgrades triggered large collateral demands from counterparties in AIG's financial products department and caused additional contracts to be terminated early.

A storm sweeping the world is inevitable.

Fang Zhuo didn't sleep well at night in Xiangjiang, and frequently received calls from different directions.

When the U.S. stock market experienced the first round of shocks, it was already the morning of the next day here in Xiangjiang.

Fang Zhuo ate breakfast, thinking about his itinerary.

At 7 o'clock, a phone call came in from Luo Jianhua, the head of Qimonda.

"Mr. Fang, Mr. Fang." Luo Jianhua's tone was rather anxious, "Mr. Xiong doesn't know what's going on, but all the conditions discussed earlier have been overturned, saying that there is no need to talk again! Isn't this playing tricks on us Qimonda? !"

"Can you communicate with Boss Xiong? It's easy to discuss anything!"

"Our side is in urgent need of funds, Mr. Fang, can you help out first!"

Luo Jianhua's series of words ranged from a ruthless accusation against Xiong Xiaoge to a desperate call for help.

Fang Zhuo sighed, how could this old bear react so quickly?How did Mr. Luo know the impact of Lehman's bankruptcy?
He said slowly: "Mr. Luo, Lehman went bankrupt, the stock market plummeted, and the economy went down. It is understandable for Mr. Xiong to overthrow the cooperation. I also have to evaluate the operation of all funds here. I really can't get the money out."

"Mr. Fang! We both agreed!" Luo Jianhua couldn't help but growl in his voice, "Why are you making trouble like Mr. Xiong!"

"It's not that it's worse, it's that the landlord's family has no food left." Fang Zhuo said flatly, "You cut off the order from my Lin'an factory and owed the OEM fee. Now that Lehman is bankrupt, I really can't afford the money, so we will treat it as One size is worth one size."

Luo Jianhua heard Mr. Fang's voice without emotional fluctuations and those arrears of fees, the roar disappeared, and he murmured vaguely: "What about Qimonda, what should we do now?"

Fang Zhuo's colder heart has not been warmed recently, he answered the question calmly: "Mr. Luo, it's business."

Luo Jianhua hung up the phone silently and resolutely. The surname Fang was not soft-hearted at all. He couldn't waste time here, so he had to rush to find the next one to murmur. With the sudden bankruptcy of Lehman, the attitude of the funders must be cautious.

Qimonda is in danger!
Fang Zhuo didn't put down his phone, he was going to read online comments on Lehman's bankruptcy filing.

But before opening the browser, a call came in from Wei Boyun, Senior Vice President of Morningstar Semiconductor.

"Mr. Fang, Lehman went bankrupt. Several customers in the mainland called to cut off some orders. Our stock price fell by 6% yesterday." Wei Boyun said in a helpless tone, "What should we do now?"

Morningstar Semiconductor has had no good things since it went public. First it broke, then it was hit by a financial black swan, and then it was cut off by a big customer.

On the first day, there was still a market value of 156 billion Hong Kong dollars, but now it is less than 140 billion!

Once the customer information is disclosed, the stock market will inevitably perform worse.

Fang Zhuo's colder heart has not been warmed up recently, he calmly answered the question: "Mr. Wei, it's business."

Wei Boyun: "This..."

How can you, a shareholder, speak such cold words!
"I didn't cause Lehman to go bankrupt. What can I do? The customer judged the situation and cut the order. What can I do? My own fab has been cut. Who can I tell me what to do?" Fang Zhuo Emphatically, "Business!"

Wei Boyun reluctantly ended the call.

After a while, several consecutive phone calls came in, including but not limited to loans from some unfamiliar people.

Fang Zhuo couldn't help it. With the current financial shock wave, everyone has to be cautious and must do business first.

At ten o'clock in the morning, a piece of news suddenly came from the United States.

Freescale, a world-renowned semiconductor company, announced a 15% layoff, and did not rule out a larger layoff plan in the future.

Fang Zhuo's cold heart suddenly warmed up a little.

what happened?

How is Freescale so fast?
I'm not ready yet!

Lehman just declared bankruptcy yesterday, and you are laying off 15% of the workforce today!
This... Freescale, you understand the economic crisis!

(End of this chapter)