Chapter 1806: 2 Room Scandal

The Liangfang Group is already heavily in debt at this time, and a quarterly loss of billions of dollars like the Rayman Brothers is already very high, but compared with the Liangfang Group, it is really nothing.

The losses of Liangfang Group in July exceeded 70 billion US dollars, such a high loss in one month. The previous loss has not been counted, otherwise it will be even more terrifying.

At the beginning of July, the two companies raised US$5.5 billion and US$6 billion respectively by issuing additional shares in order to tide over the difficulties.

As a result, not only have the difficulties not been overcome, but the burden on enterprises has once again intensified.

Originally, the Federal Reserve hoped that the U.S. dollar would appreciate, and then it could absorb deposits, allowing banks to have more cash and reduce cashing, so that banks would have more funds to operate.

The two Fangfang Group also think so, so they borrowed a huge amount of money and invested in the US dollar interest rate swap transaction, hoping that through such an operation, they can make a lot of money back and tide over the difficulties.

But they never expected that even though the Federal Reserve has raised interest rates again, there are still not many depositors. Frankly speaking, people no longer trust banks so much.

Then Feng Yu, Kirilenko and others are still taking the lead in selling the US dollar, continuing to suppress the exchange rate of the US dollar, causing the exchange rate of the US dollar to continue to fall.

At this time, the banks in Europe also joined in, and they also saw the profits here.

For example, Barclays, UBS, Royal Bank of Scotland, Deutsche Bank, Credit Suisse, Rabobank, etc., and even the United States' own commercial banks such as Citigroup, JPMorgan, Bank of America, etc. have also joined them.

In the eyes of those capitalists, only profits are real, and they care about the life and death of other enterprises.

With the participation of these banks with huge assets, the exchange rate of the US dollar cannot be pulled up at all. Feng Yu's main selling of US dollars is also on the European side, through these commercial banks for lending and selling.

At that time, many of these banking giants were also speculating in crude oil. They believed that the decline in the dollar would make crude oil continue to rise, so it was in their best interest to sell the dollar, not to mention that they believed that this would stimulate financial markets such as stocks.

As a result, the investment of Liangfang Group once again lost money, and the loss was still very large.

Coupled with the continuous bankruptcy of insurance companies and financial companies during this period, the debts of the two groups have continued to increase, the value of securities has continued to decrease, and their losses have become larger and larger, and they will soon be unable to cover them.

At this time, those European commercial banks once again played a ruthless trick, which is to increase the interbank offered rate, that is, the lending interest between banks and other financial institutions.

This led to a sharp rise in the lending interest of the two housing groups, making their losses even bigger.

Of course, with the increase in interbank interest rates, Feng Yu and the others will lose more and more losses from selling dollars, but Feng Yu doesn't care.

This part of the loss can be earned back with investment in other markets, such as short-selling investment in the US stock market, which can allow them to make up for these losses.

What's more, Feng Yu's most profitable investment is crude oil futures.

At this time, crude oil futures are still falling, and Feng Yu and his short-selling contracts can see profits rising almost every day.

If a company loses too much, the stock price will naturally fall rapidly.

Last year, the stock prices of the two housing groups exceeded 60 US dollars, but they began to fall at the beginning of this year. At that time, Feng Yu also took the lead in short selling.

After the stock price was suppressed to about 20 US dollars, the US government began to inject capital, and it rose a little. However, as the investment of Liangfang Group continued to lose money, their operating losses increased, and the market continued to fall. Naturally, the stock price has also fallen all the way, and now it is only a little over one dollar.

In other words, the market value of the two companies has shrunk to one-sixtieth, and more than 98% of their wealth has evaporated.

Bank of Merrill Lynch and Lehman Brothers, whose fortunes have also evaporated greatly, have all gone bankrupt, but the two houses are still insisting, because they are the two houses and the largest sponsors of the US government.

The huge losses of listed companies have a great impact on the stock price. If the stock price is below one dollar for 30 consecutive trading days, then they will be forced to delist, and it will be difficult to turn around.

At this time, they chose the same path as ShiCom, Enron and other companies, that is, financial fraud. Fictitious profits and underreported losses so that investors will not completely lose confidence in them.

A few years ago, the two Fangfang Group also had a scandal of financial fraud, but at that time they concealed their profits. This was accepted by investors, which at least proved that the two companies were very profitable, and they just wanted to give less They are just investors. In fact, the concealed profit is not direct income, but book income.

But this time is different, this time it is to hide the losses, and do not want investors to withdraw their funds, otherwise they will be completely screwed.

As a result, the giants of the two Fangfang Groups have found someone to start accounting, increasing profits by 10 to 20 billion US dollars, and concealing some losses, so that they will look better financially.

Let investors think that the two rooms are only temporarily in trouble, and will soon get out of trouble, and once again give investors high returns.

Unfortunately, Feng Yu knew about this matter in his previous life, and after careful investigation in this life, he also found tangible evidence.

Then the next step is simple. If this scandal is exposed, the share price of the two rooms will inevitably plummet again.

[The two Fangfang Group jointly concealed losses, will the history of Enron, WorldCom, etc. repeat itself? 】

[Two Fangfang Group falsely reported profits, investors were deceived by them! 】

[Two Fangfang Group has reached the brink of bankruptcy, will mortgage interest rates rise sharply again? 】

[The bankruptcy of Liangfang Group will detonate the financial turmoil, and the US economy will suffer the heaviest blow! 】

Many pieces of news were reported on the Internet, newspapers, and TV, and quickly spread throughout the United States and the world.

For a while, this news even suppressed the limelight of the China Olympics. According to the period of the Olympic Games, the Olympic Games is the darling of the media, but this time it is different.

Xiao Bushi, who was being interviewed by the media, was still smiling and told the reporter that this time the athletes of the United States will continue their previous achievements and break many Olympic records, and even break many world records.

He likes a certain athlete very much, and he hopes that when the opponent is victorious, he can have dinner or something.

But at this time, he went to see the people in his office waving at him behind the reporter, which meant that something urgent had happened.

Someone stopped the reporter and interrupted the interview. Xiao Bushi walked over and asked, "What's the matter?"

He looked displeased. Today, a certain athlete from the United States broke the world record. It is rare that there is something that makes him happy during this period of time. He is very happy.

"President~Mr. Tong, take a quick look, there has been a major scandal in the Liangfang Group!"

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