At this time, Lehman Brothers had a market value of less than US$18 billion. The representative of the South Korean Development Bank wanted to occupy 30% of Lehman Brothers' shares with US$6 billion and become the largest shareholder of Lehman Brothers.

Faced with this no premium equity acquisition, Richard Fould flatly refused.

So, the two sides parted unhappily for the first time.

Although Lehman Brothers is in a difficult situation and has many internal crises, Richard Ford, who once led Lehman Brothers to a market value of over 100 billion US dollars and became the five major financial group giants on Wall Street, does not think Lehman Brothers is only worth $18 billion, and he cannot accept his low selling of Lehman Brothers' equity.

Of course, at this moment, he can still be so arrogant.

It is also because of the precedent of the Federal Reserve and the government that successively rescued Bear Stearns, Indymac Bank and Elter Bank, that Lehman Brothers is so large that even if the debt problem is ultimately unsupported, there will be funding from the government and the Federal Reserve to help support the bottom line.

In his heart, he had great expectations for Treasury Secretary Precost and Fed Chairman Bernanke.

Of course, I also hope that its hedge funds can win all their speculation in crude oil futures and make large profits to make up for the group's lack of cash flow and poor financial situation.

"President, Mr. Bradley of Citibank, has called you back."

As soon as he saw off the representative of the Korean Development Bank, the secretary received a call from Citibank and hurriedly reported.

Richard Ford hurriedly took the microphone and said with a smile: "Old guy, you finally called me back. I'll wait for your phone call, but I've been waiting for you for a while!"

"Sorry, Mr. Foulder, you have been waiting for a long time," said Bradley. "You ask me for your business... I submitted it to the board for discussion, but there is no way."

"You also know that we, Citibank, have already held various bonds of your Lehman Brothers, totaling $76 billion."

"This is already a very large scale. Even if I try my best, I can no longer persuade all the members of the board of directors to continue to increase your bonds."

"Besides, our Citibank has been greatly affected by the 'sub-prime mortgage crisis'."

"I'm currently on the verge of profit and loss, and I'm really powerless. Sorry, old friend, think of other ways about interbank lending and financing!"

Richard Ford sighed inwardly and said, "You have tried your best, understand, I'll think of other ways!"

After saying that, Richard Ford hung up the phone and frowned deeply.

This was the fifth call he called for help through his personal relationships and connections. Unfortunately... the final result was not satisfactory.

Faced with the current difficulties of Lehman Brothers.

And the initial disclosure of huge debts of more than US$500 billion and the capital of various departments that still have spare energy, no one wants to be the "white knight".

"President……"

When Richard Ford was thinking about who to call next and how to continue asking for help, and when financing, Lehman Brothers Chief Investment Officer Mellon Nickles broke in and looked very bad: "We stepped on the mine. Several bonds of the Fairy Real Estate Group that we held on a large scale were completely defaulted. They collapsed and plummeted today. I am afraid that they would have to add 600 million to 800 million impairment losses on the books."

"Why don't you appear early?" Richard Ford asked in anger.

Millen Nickles said embarrassedly: "No one expected that Fairy's debt would collapse. Our focus on exit was on the CDO and CDS trading business, and some risks on the bonds were ignored for a while."

"Silly, stupid..." Richard Ford cursed, "What are your reactions? When the 'sub-prime mortgage crisis' is becoming increasingly unavoidable, you should withdraw from all real estate investments."

"Mellen Nickles, can you give me good news?"

"How much money have you lost? Can you have an accurate number? How much will you lose in the future? How many more times will you lose in the loss like this happen?"

"Sorry, the president..."

"I'm trying to reduce my losses and exit all venture capital," said Millen Nickles.

"When you withdraw, the entire group will be dragged down by you." Richard Ford said angrily, "Collection of all the investment projects that can be sold for me, and I will find a buyer myself."

"As soon as possible, as soon as possible, do you understand?"

"I don't want us Lehman brothers to be run by investors. The paper can't keep the fire in it. In this difficult time, we have to face the difficulties."

Millen Nickles nodded and quickly left in Richard Ford's angry gaze.

"Hey..." Richard Ford rubbed his temples, and he had a headache. "Bol Orib, please help me contact the representative of the Korean Development Bank. I think it is necessary for us to talk about it."

Secretary Poll Orib responded quickly and quickly went to contact him.

However, as soon as Poll Orib finished his phone call, news about the default of Lehman Brothers' bonds, losing at least hundreds of millions of dollars, has already filled the entire network.

The stock price of Lehman Brothers, which was originally rare to rise, also plunged straight again in this negative light, turning green against the trend.

It will reduce its market value by at least $600 million to $800 million.

When I received another call from a representative of the South Korean Development Bank, the other party not only did not intend to increase the price, but instead reduced it by 300 million US dollars on the basis of the original $6 billion.

Richard Ford is a big shot in Wall Street.

During such a call, I felt that I was insulted.

With a bad temper and arrogant temper, he scolded the other party without hesitation, completely cutting off his intention to continue negotiations with the South Korean Development Bank.

I noticed the consecutive negative outbreaks in Lehman Brothers' market and the abnormal movements in the stock price.

In the New York branch of Bentayga Capital, marketing manager Cui Xianshi keenly noticed that this Wall Street financial giant company is very likely to be standing on the edge of a cliff and can no longer independently resolve the internal crisis, and is likely to become a nuclear bomb that triggers the global credit crisis.

So, all the staff of the marketing department were quickly instructed to dig deep into all the information about Lehman Brothers.

All the risk points and internal actual situations of this giant must be dug out.

Stimulated by the continuous news of the market, the fluctuations of both the stock market, bond market, futures market, and foreign exchange market have become increasingly fierce.

While the "subprime mortgage crisis" continues to deepen, the economic recession appears.

On the one hand, the government and the central bank are actively rescuing the market, constantly sending out positive signals and stimulating the nerves of the market.

At this fundamentals and policy aspects affect each other, it is hard to say whether it is the turning point of the crisis in full swing or the turning point of the market bottoming out.

Investors are very nervous.

We are paying attention to the wti crude oil futures market, waiting for the decisive battle between long and short.
Chapter completed!