Chapter 1636 Dish Cooking? Just a Joke!
"...Despite bailouts from the Treasury Department and the Federal Reserve, the U.S. banking sector remains under the shadow of a crisis.
Falling house prices, recession, financial and credit market turmoil, and a host of other factors have made our financial system extremely vulnerable. The liquidity of financial institutions is seriously insufficient, which has also led to a surge in the number of bankrupt banks. From January alone to the present, the number of newly bankrupt banks has reached 10, a record high in the past ten years. "
Facing the little fox who has no profit and can't afford to go early, MG Chase CEO Dimon made eye contact with everyone, and then said.
"Hehe, as the economy has been hit hard, examples of bank failures have long been common. Under this severe cold, it is a victory to survive."
Andy knew that the rouge was coming. The background of this group of veteran Wall Street crocodiles was beyond the reach of Yingtai Bank. From Bear Stearns to Washington Mutual Bank, Andy discovered that this group of guys had a very good taste. Ugly, not only greedy but also very domineering.
It’s just that as a newcomer in the banking industry, no matter how unwilling and unhappy Andy is, there is nothing he can do about it. The Smith family is very powerful, but the family power represented by these bank predators is not vegetarian. You can really do whatever you want in the United States, and the United States is not an independent CI, Jun government country.
As of February 13 a few days ago, since the outbreak of the subprime mortgage crisis in 2007, 35 banks in the United States have closed down, and Andy even bought five of them, and established the current Yingtai Afterwards, the bank expanded outward by annexing some small banks with assets of tens of millions or 100 to 200 million, increasing the radiation range of Yingtai Bank in the United States.
However, established giants like MG Chase and Bank of America eat up either Washington Mutual or Merrill Lynch. It is impossible not to envy and hate them.
However, Andy is also very helpless about this situation. After all, the size of the bank that was acquired and merged really looks down on a medium-sized commercial bank like Yingtai Bank. Even if Yingtai Bank wants to annex them, they are not happy, TM That's embarrassing.
"In such a short period of time, Yingtai Bank can make a small profit in such a financial environment. Is it true that you can make money like magic?" Bank of New York Mellon CEO Kelly flashed in his eyes. After a touch of splendor, he smiled and joked.
Everyone present couldn't help chuckling, but they were really envious of Andy Smith's ability to make money.
Especially the Bank of America and Goldman Sachs, who have cooperated with Andy and made a lot of money from it, all laughed loudly, only the CEO of MG Stanley smiled reluctantly, with a constipated expression,
They were killed by Andy Smith, but they haven't forgotten.
"They only saw that I made money, but they didn't see my investment that lost money. Gales clothing, Starbucks, and major newspapers are all losing money. Fortunately, I still have some capital, otherwise, I would have lost money. Then At that time, you will not see the media touting me, but being ridiculed by everyone."
Andy picked up the red wine, gestured to everyone, raised the corner of his mouth, took a sip, put down the wine glass, and cried poorly, not without self-deprecating.
"Park Avenue Bank has total assets of approximately US$520 million and deposits of US$494.5 million. It is the second New York bank to be closed this week.
line, mainly serving the Jewish communities in Manhattan and Brooklyn.
The total assets of OldSouthern Bank reached about 310 million US dollars, and the total deposits absorbed were 319.7 million US dollars.
Stateide Bank has total assets of approximately $240 million and total deposits of $208.8 million.
. . . . . . "
MG Chase CEO Dimon looked at Andy sitting across the table with a smile on his face and introduced them one by one, "The total assets of the 7 banks are 3 billion U.S. dollars, and the total deposits are 3.1 billion U.S. dollars. It is of great help to develop business outlets across the country, and if you have an idea, everyone here is willing to help with a little effort."
"Wow, I really want to thank you all for your generosity." Andy raised his eyebrows and smiled lightly. He reached for a clean white napkin, wiped off the soup on his mouth gracefully, and put the napkin aside casually, with a half-smile Looking at Dimon and the other smiling people, these banks here are already fully supported. The financial crisis has created extremely favorable conditions for them to annex other opponents. Now it is not good for them to use some leftovers to win over their allies. Distressed and familiar with the road.
"Everyone is so generous, I think there must be some conditions? Tell me, but if the matter is too troublesome, I can only helplessly refuse your kindness. After all, I am still young, and I don't want to be too reckless and aggressive. Yes. For me, there will be plenty of time and opportunities in the future, so it's better to be more stable, don't you think?"
Hearing Andy's words, the financial giants present all laughed and shook their heads. To be honest, they all had a very good understanding and analysis of Andy Smith, a young man, and knew that he was a mature man with a personality that was extremely inconsistent with his youth. Cunning, strong control, suspicious personality, just like a little fox.
They knew that if there was nothing tangible to impress this little fox, no matter how much he said, he probably wouldn't stand with them.
"Within three days, all deposit accounts of the above-mentioned seven banks will be transferred to Yingtai Bank, and their original business outlets will be reopened as branches of Yingtai Bank." Lewis from Bank of America said to Andy with a smile, However, as if thinking of something, the smiling face slowly turned into a sneer.
"Since he said with a righteous face that "to limit the salary of Wall Street executives", everyone's fate began to change. In order to get the rain of life-saving, we silently endured his "fat cat" and other humiliating scolding. Now the economic stimulus The plan has been passed, and everyone’s hard days are almost over, but now, he actually wants to reform the financial system, trying to make Wall Street thinner and the poor richer, can Wall Street let him do whatever he wants?”
"We feel that we should give him some color - give the money to others! In the mid-term elections next year, we decided to turn to the Xiang Party. Their political proposition of "small government, low taxes" is more beneficial to us. Wall Street needs a stable Environment and time to recover, not turmoil, hand over the leadership of Congress to the Elephant Party, use the Elephant Party to balance and restrict him, and let him wake up from the naive democratic anesthesia!"
Goldman Sachs CEO Blankfein had a sneer on the corner of his mouth, holding a knife and fork, and said in a mocking tone while cutting the steak vigorously with the knife.
"Hehe, then, what do I need to do?" Andy asked with a light smile.
"To be honest, we didn't expect that your interpretation of 'Roosevelt's New Deal' would cause such a big reaction, and even cause controversy, and Mr. President, who has been fantasizing about surpassing Roosevelt's New Deal with an Austrian-style flashy stimulus plan, was very annoyed. According to polls, half of the voters feel uneasy and questioned his new policy. We think that you should make better use of your influence. Of course, support the Elephant Party. I think Mr. Old Smith and Mr. Oston Smith will both I am very happy, what reason do you have to cooperate?"
MG Chase CEO Dimon's eyes were a bit gloomy. No one thought of Ao Guanhai's quick choice and Wall Street's breakup. He had to be taught a lesson and let him understand that if he could play the role of a "good dog", his Political life may be saved, otherwise, he will be abandoned and wandering.