Back To 1995: Chapter 364 Take the blame
Chapter 364 Taking the blame
Those people who went to the plane today, except for a few people from the Federal Securities and Exchange Commission, the rest, whether they are investment banks, brokerages or hedge funds, know that if they go to San Jose, they will basically be knifed. The difference is this knife A little deeper, or a little shallower!
The person who spoke actually wanted to give Double-Double some eye drops in front of the "fair" Federal Securities Commission officials this time.
The Federal Securities Commission actually acted as an intermediary this time, asking Double-Click to sit down with the group of people on the plane and talk about it.
It seems to be a peacemaker, but the attitude of the Federal Securities Commission personnel is also crucial. Of course, whoever is biased can take advantage of it.
This time, the person who was sent by Levitt was a person who had been with the Federal Trade Commission for nearly ten years. He was in charge of the legal affairs of the Federal Securities Commission before. He is the youngest senior lawyer in the history of the Federal Securities Commission and is now a director of the Federal Securities Commission. one.
The Federal Securities Commission, which has a close relationship with Wall Street, is also traditionally the territory of the Donkey Party, and most of the internal Donkey Party members, but this time Harvey Pete is not!
Harvey Pete is now basically the highest official in the Federal Securities Commission of the Elephant Party, and has a close relationship with the Cowboy family. If the Cowboy family or others from the Elephant Party come to power one day, then Harvey Pete is likely to be nominated directly for the Federal Securities Commission. The boss of the committee.
This is very possible. After all, if Xiangdang comes to power, unless someone who doesn't understand Wall Street is parachuted into the most sensitive position in the whole of America, there are only a handful of people who can be selected, unless he loses face. Choose someone from the donkey party to serve as...
Harvey Pete, who was sitting at the front of the plane, also heard the words from the brokerage. When he heard these words, Harvey Pete just frowned, but didn't speak again.
Everyone "knows" that the double-click operation did not manipulate the stock price, but it is not so easy to obtain evidence of the double-click in the federal court. Besides, Harvey Pete came this time, It's not that he really wants to stand up for the group of people on the plane.
Levitt can send Harvey Pete as the middleman instead of others, which means that he has no intention of suppressing Double-Click Company, not to mention, before coming, the party, including whip Tom Delay The cowboy families who have the closest relationship with Harvey Pete have all hinted to Harvey Pete that he should stand on the side of Song Yang, the patron of the elephant party.
Whether it is Tom Delay or Harvey Pete, they are actually members of the cowboy family circle, and the relationship is very close. Once the cowboy family gains power in America, they will follow the chickens and dogs to ascend to heaven. This time Harvey Pete is clear about whether he is helping these short sellers or helping Song Yang, the patron.
The moment the plane landed in San Jose and walked out of the airport, the media and reporters who had already heard about it frantically took photos of Dick Fuld, Spector and others. The crowd who came out of the plane faced On the camera, they all showed a forced smile.
Ken Griffin stood at the end of the crowd and lowered his head slightly to prevent himself from being the focus of the media. For Ken Griffin this time, he must have lost face. Ma, if Dick Fuld, Spector and Ken Griffin publish a memoir in the future, then today may not be the worst day of their careers, but it is definitely the most humiliating day...
"President Dick Fuld, may I ask how much the Lehman investment bank will lose this time?"
"It is rumored that Bear Stearns' loss this time will reduce the overall performance of this year. May I ask President Spector, is it true?"
"This time, everyone, can you let the double-click company release the outstanding shares?!"
The reporter caught a group of powerful people on Wall Street and asked them. In the past, they were the ones who made countless Americans and even the global investment industry tremble when they said a word. Ask whether this short-selling double-click event caused them heavy losses, how much money they lost, and whether they dare to short other companies in the future.
What kind of work does the media do, such as making a fuss out of nothing, sprinkling salt on a wound, making another knife, etc., the media does it most neatly, and this time is of course no exception.
Specter, who was a little annoyed by the question, pushed away the microphone that was about to hit his face, "We are here this time to express Wall Street's dissatisfaction with Double-click, and we will not accept blackmail-style stock prices!"
On TV, many people burst into laughter when they saw the annoyed faces of big Wall Street figures such as Dick Fuld and Spector.
And when they heard Spector's last sentence, that is, they did not accept the double-click company's current stock price of more than $150 to close their positions, the knowledgeable people shook their heads. At this time, these investment banks and brokerages They are still so blunt. It can be seen that they double-clicked the short-selling at the beginning, which actually contributed to the flames, or they never thought of losing at all, and they dared to cut their leeks...
Double-click Company attaches great importance to the arrival of Harvey Pete, and specially rented a luxury villa in San Jose for the residence of Harvey Pete's team. As for Spector's group, Double-click is not interested in entertaining anything , I didn't pay attention to it at all.
Looking at Harvey Pete and others who were picked up by the person who double-clicked as soon as they left the airport, the rest of Dick Fold and the others all looked at each other in blank dismay, and their faces became even more ugly. They didn't expect that double-clicking was really embarrassing It's gone, and I don't save any face. It is conceivable that tomorrow's negotiation will never go smoothly.
As for Harvey Pete, as soon as he arrived in San Jose, Song Yang called Harvey Pete on the phone, double-clicking was also very cooperative. Before Harvey Pete could speak, he sent a lot of materials in advance , although they are all "our own people", but the attitude of double-clicking makes people like Harvey Pete feel very satisfied!
The location of the negotiation is in the ICQ office building. Spector, Dick Fold and the others are unwilling to come here, but as a party of the alliance under the city, they have no right to choose at all.
In the ICQ office building, double-click here Whitman, Marcus, Greck and others all rushed over, plus Kravis from KKR Group, Edison from Deutsche Bank Investment Bank and others, people from both sides entered Once there, the conference room is packed to the brim.
The enemies were extremely jealous when they met, not to mention that they lost billions of dollars. As soon as they met, the two sides were at war.
Specter and Dick Fold looked at Edison even more unkindly. The so-called two devils are more hated than devils. Deutsche Bank is also an investment bank on Wall Street. They hate Deutsche Bank Investment Bank even more than they hate Double-Click.
Regarding the purpose of Spector's threat, Edison was not afraid, just snorted coldly, what did this kind of threat mean to him? Damn, if the position is changed today and the investment bank of Deutsche Bank has been tricked, I am afraid that Spector and his gang will attack even more ruthlessly!
Song Yang and Harvey Pete shook hands, didn't say much, just nodded to each other, everything was kept silent, on this occasion, the more you talk, the easier it is for someone to catch you, and you can't look at one Man, what he said depends on what he did!
After sitting down, Harvey Pete calmed down the two sides who were at war with each other. There was no such thing as Spector and others expected, to launch an investigation on the double-click, and even accused the double-click and the like.
"Before the settlement date of this month's options, brokers, investment banks, hedge funds, and DoubleClick should reach a liquidation agreement. This is Levitt's intention!"
Harvey Pete just said something indifferently, and after finishing speaking, he sat aside and kept silent, as if he had nothing to do with this negotiation.
Harvey Pete’s attitude made even the few other members of the Federal Securities Commission who came this time helplessly look at the presidents of hedge funds, investment banks, and securities firms, expressing that they could not help.
No way, as the two most powerful people this time, Spector and Dick Fold naturally became the leading brothers, and the others could only follow behind them.
"Double-clicking the current stock price is abnormal. We all know that double-clicking cannot maintain such a high stock price. Neither Lehman Investment Bank nor other Wall Street companies can accept liquidation at such a stock price!"
Dick Fuld said, obviously not wanting to admit it, and Spector on the side also said, "We request that, at the double-click stock price of a week ago, at a price of $19, Double-click, KKR Group, and Deutsche Bank Investment Bank release the circulation shares, or transfer a part of the shares to us!"
Hearing this, the people on the double-click side couldn't help but glance at each other. For this reason, these big Wall Street investment banks are really aggressive. The current stock price of Double-click is more than $100. Investment banks and brokerages still want to let Double-Click transfer equity to liquidate at such a low price, which shows how domineering they are on weekdays!
Addison couldn't help but sneered, and looked at Dick Fuld and Spector, "It should be you who need to close the position now, right now, the double-click stock price has reached 120 U.S. dollars, no, it should be one hundred and fifty U.S. dollars..."
While negotiating, the double-click stock price was still performing the last crazy performance. The stock price hit a record high again, and began to sprint towards the stock price of 150 dollars at the height of the atmosphere, and carried out the final carnival!
At this time, the general manager of a hedge fund couldn't help standing up, and said indignantly, "Double-clicking is manipulating the stock price. This is not a normal price at all. No one will accept such a price!"
"If everyone agrees with this, then there is no need to talk about it. When the time comes, everyone, you can close your positions yourself!"
Just as the quarrel was raging, Song Yang said suddenly, causing the whole scene to be silent for a moment. The reason why Spector and others were so tough was that they were right. Dare to demolish the platform, but now Song Yang not only demolished the platform, but also directly smashed the house.
What will happen if the hedge funds are unable to liquidate and settle options this time? This is probably the first breach of contract in the history of Wall Street and America. Not to mention the amount of default, but the reputation of the entire Wall Street will go bankrupt. The financial order that the world has painstakingly built may also be impacted. Spector and Dick Fold looked at Song Yang dumbfounded, thinking that Song Yang would dare to smash the table like this!
(end of this chapter)