novelones Chapter 418 Dominoes, Bankruptcy Wave
Chapter 418 Dominoes, Bankruptcy Wave
Bankruptcy protection means that Huanyu Real Estate has been taken over by creditors.
Who are the receivers of Universal Real Estate?
The commercial bank of the beautiful country, the leading bank of Switzerland, the Eagle Country, the Cherry Blossom Country, France...
You can imagine that the banks named are on the list of creditors.
If it were left for two or three years, they would feel that this was a gift from God and cry with joy.
But now I just feel that this is a poison that accelerates their slow death.
Countless projects under development have been halted, workers are on strike, and investors are protesting.
In order to prevent Huanyu from completely closing down, they have to supply blood to Huanyu every month.
The United States Commercial Bank, which received hundreds of billions in aid, is also having a hard time.
The most critical reason is that Cayman Capital has never stopped pursuing claims.
Citibank suffered huge losses due to subprime mortgages and was exposed to huge claims. The stock price suddenly fell to almost nothing, and its market value dropped from a world-class bank to a regional bank.
Citibank was the first to file for bankruptcy protection amid claims from Cayman Capital and major banks.
The news caused an uproar in the banking community.
Both the fiscal department and the Federal Reserve have nothing to do with the short sellers led by Cayman Capital.
Because many banks have also purchased a large number of default replacement credit insurance contracts, everyone is hedging legally.
If one bank doesn't pay claims, the other bank will fail.
It's like an infinite loop.
Cayman Capital has taken full control of Citibank as a creditor.
After this news came out, Lehman Brothers also reached the end of its rope.
In fact, when Huanyi collapsed, Lehman Brothers entered a countdown to bankruptcy.
Fuld began to save himself, trying to cut Lehman Brothers into two parts.
Divide into good parts, such as long-term fixed assets and small-life part real estate.
And the bad parts, the bad subprimes and the junk mortgage contracts of the day.
But people who are interested in acquisitions are not stupid. In their eyes, the good parts of Lehman Brothers are not much better.
Coupled with Fuld's unwillingness to yield, all negotiations collapsed.
The financial department is also unwilling to bail out Lehman Brothers like it bails out other companies.
Fuld had to declare bankruptcy directly, all employees had to be forced to leave, and Lehman became a mess.
Once Lehman collapsed, Merrill Lynch, Bear Stearns, Goldman Sachs, and Morgan Stanley were all gone.
Their share of bad subprime mortgages and small livelihoods have made the situation far worse than it has been historically.
Wall Street's four major investment banks filed for bankruptcy protection one after another.
Only then did the Federal Reserve and the Treasury Department realize the importance of the problem.
The key is that the development of things has been out of their control.
Banks in the United States also began to file for bankruptcy protection one after another, and the Federal Reserve had to start printing money at full capacity to assist the banks.
When things got to this point, all the officials in the beautiful country began to mess up.
Our beautiful country has ushered in an unprecedented wave of unemployment, with zero-dollar shopping and demonstrations happening every day.
Crime rates began to skyrocket.
The prisons began to become overcrowded.
Most crimes go unchecked and people are robbed just walking down the street during the day.
Even at home at night, it is not always 100% safe.
Because the police are also on strike, the call to the police may not go in. Even if the call is made, there is a half chance that they will not call the police at night.
The courts are busy with endless work every day. Some lawless gangsters have bribed them, and the righteous police can do nothing about them.
Rich areas also began to be affected, because rich people also began to go bankrupt on a large scale, and many of them became criminals.
The most popular in the beautiful country are criminal groups and security companies.
What criminals study every day is where to kidnap money and which bank will have cash.
The U.S. dollar began to depreciate rapidly as officials printed more money.
As the masterminds behind the scenes, Wang Lei and Cayman Capital further got involved in the financial industry and some core industries of the beautiful country.
Behind all large listed companies are two controlling parties, Cayman Capital and White Dragon Consortium.
His arms company can even buy the most advanced weapons and blueprints of the beautiful country from the corrupt military.
Of course, all of this is for later.
Back in November 2007.
A secret scientific research center in Shen City.
Several big guys from Sanshi Group and Biyadi Company gathered together.
A four-door sports car slowly drove out of the basement.
With a gunshot, the sports car ejected like a rocket and ran wildly on the runway.
The bosses in the stands could not help but feel their hairs stand on end and their hearts beating faster.
Under the control of professional technicians, this four-door car powered by electricity ran around the track twice.
After the car stopped, everyone came over to greet it.
Wang Lei, who was slightly fatter, took off his helmet.
He sat in the passenger seat and personally felt the pushing feeling of the test vehicle.
Ni Pingnan's face was full of pride:
"How was your experience boss?"
"Very good. Since all the data has passed the test, let's give priority to the mass production of the three-stone electric flagship version."
"Launch conference..."
"Schedule it for early next year, and strive to have it fully launched before the Olympics, and then replace all taxis in Kyoto with low-end versions of electric vehicles!"