Chapter 1062: 1062
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$10 billion!
The hand touching his chin is slightly sluggish. Andy's eyes are shining brightly. His eyes are staring at the chief consultant of the think tank who is still indifferent. He is hesitant.
"Cough, let's put this matter aside for a while. Let's finish the acquisition of IndyMac federal bank first..."
Even if Andy covets this part of the fund, he will not give a definite answer at present. This kind of thing is a bit of a loser. Fortunately, he doesn't need to do it himself, but it will also attract some names.
For the first time, Andy's little Versailles Palace has become very busy because the final negotiations and details with FDIC are scheduled in the afternoon. After all, it will serve as a temporary office for more than 50 people.
After the meeting, Andy takes alvette to his luxurious study, sits on the chair, lights a cigar and frowns.
"Al, you gave me a big problem..."
Albright column light a smile, holding up the coffee slowly taste, for the young BOSS entanglement do not care.
"It's going to chill many Americans!" Andy's serious face, shrouded in cigar smoke, shows a touch of worry.
"There is no way to control the quantity and set a record, if not the worst, which is also one of the worst. The bank can only use this method to reduce the loss for those who can't repay the loan. You can't pay for it by the boss! The spirit of the contract must be carried out. Everyone is not a child. When the house price rises, when they make money, they don't pay the bank a dollar more!
Boss, your pity and sympathy are in the wrong place. It's business. It's business. It's not moral! "
the expression on alvette's face suddenly became serious, and he said calmly.
"Ha ha..." Andy shakes his head and laughs, but he knows that Al's words are correct. Indeed, he can't fail to repay the loan, let the bank lose money.
"Well, I'll leave it to you!"
Andy finally decided to deal with this matter in accordance with the practice of the United States, even if he knew that Al's deep meaning was to actively create foreclosure, let the court confiscate the property, and then sell it at a low price, trigger the loss sharing agreement of FDIC, and make up the loss from FDIC.
In the afternoon, in Pasadena, Los Angeles, in front of the headquarters Hall of IndyMac federal bank, Secretary of the U.S. savings administration Rick, head of the U.S. Federal Deposit Insurance Corporation, and a dozen bank executives looked at the huge convoy of more than a dozen SUVs and a black Rolls Royce coming from afar.
"Here they are!"
"Bang Bang Bang..."
The motorcade lined up in the square of the bank's headquarters, all the doors were opened, and a group of Wall Street elites with straight suits and dignified faces came down to quickly concentrate on the black Rolls Royce in the middle.
The tall and strong Kenny opened the door. Andy, who was also dressed in a stiff suit, got out of the car, stood in front of the car with a light smile, looked around, looked at the headquarters of IndyMac federal bank and the group of people who were walking down the steps from the front of the door. With a slight tilt of the corners of their mouths, he took the lead in greeting them.
Andy's huge team behind him makes the passers-by around IndyMac federal bank and the staff and customers in the bank hall look curiously. Everyone knows that something important is going to happen.
"Welcome, Mr. Smith. I'm Rick, Secretary of the savings administration. This is
"Hello..."
Andy shakes hands with the person in charge of the negotiation with a smile on his face. This is the first time Andy has met with them, and the last key Xing negotiation is to be held. In fact, there is nothing to talk about. It is mainly to confirm some agreement details, such as the staff problems of the bank, and some things that need cooperation.
After all, in the acquisition case of IndyMac bank, the bidding process was skipped directly, and it was not so "orderly", but there was no way to do it. At this time, only Andy Smith has the ability and the willingness to be the takeover man. FDIC would like to hand over the bank immediately.
A group of 780 people walked into the headquarters building of the bank, causing a lot of attention. They saw Andy Smith, the leader, and the people around him talking and laughing. At first, some customers worried about the problems of IndyMac federal bank could not help but think of a possibility. After all, FDIC had publicly stated in the early days that it would find a buyer for the bank.
"My God, Andy Smith is going to buy IndyMac federal bank..."
。。。。。。
Looking at the back of Andy's disappearance, all the people in the whole bank hall fell into a discussion, and the staff of the bank were also a little shocked. After that, they were worried. After all, no one knew whether they would be cut if they changed their new boss.
You should know that 3800 employees have been laid off before. Although there are not many real bank employees, most of them are loan Issuing Departments of the Ministry of housing and urban rural development, who can guarantee that the new boss will not cut them in order to reduce costs.In the conference room.
“。。。 There will be no layoffs for the time being. After all, before the bankruptcy, there were almost no layoffs. Moreover, the regulatory authorities also conducted a complete "autopsy". I believe that the current personnel composition is the most perfect state, which I have no problem with! "
Andy's words made everyone in the conference room show a strange expression, and American savings administration secretary Rick shook his head and smiled bitterly.
"Mr. Smith, if there is no objection, we can sign the agreement..." The head of FDIC hopes to throw away the hot potato in his hand as soon as possible. To be honest, taking over IndyMac federal bank is not good for FDIC at all. He not only has to constantly cash in the deposit compensation, but also faces the dilemma of being constantly withdrawn a large amount of cash every day.
"A purchase price of $1.5 billion plus an injection of $1.3 billion, right?" Andy smiled, looked at the other negotiation leaders, and confirmed again.
"No, no, Mr. Smith, I'm afraid you have made a mistake. The 1.3 billion yuan is the deposit of loss sharing agreement, which needs to be paid to our FDIC. The money injected by the bank is the money you support the operation of the bank."
Looking at the face of the head of FDIC, Andy said apologetically, "I'm sorry, maybe I'm wrong, Al, is that right?"
, everyone in the audience is not in the heart of a Tucao, Nima, make complaints about billions of dollars, fool will believe you understand wrong.
Secretary of the U.S. savings administration, Rick, was speechless, and even looked at Andy Smith, who was still teasing people. He knew that the young man in front of him had made $10 billion from the Federal Reserve to buy IndyMac federal bank.
But nobody expected that this deal involving 10 billion yuan would turn into a purchase case less than 3 billion yuan after three talks and two talks. NIMA, this is beyond many people's expectation.
But there's no way. IndyMac's main assets are $23.5 billion in commercial loans, mortgages and MBS. Many of these are highly toxic assets, almost many of which can't be recovered. Otherwise, how can they be called the subprime crisis? If they are also priced in the purchase price, I believe this bank can't sell them for a lifetime.
"Mr. Smith, we need to finish the transaction as soon as possible to boost the market. After all, the difficulties faced by the American banking industry are very arduous. The run cannot continue to spread. I believe that the terms of this transaction are very favorable for both sides, which I believe you know very well!"
Rick, the Secretary of the U.S. savings administration, who knows the truth, is not in the mood to continue to spend time with Andy Smith here. It is the biggest concession for FDIC to agree to sign the loss sharing agreement. At the same time, they are also worried about not making this guarantee. Andy Smith, after learning about its toxic assets and debts, directly puts on the hook.
"Well, that's it! The agreement can be signed immediately, and I hope you can cooperate with my people to take over the bank assets and avoid chaos. I don't want chaos again! "
Andy closes the agreement, looks serious, to be honest, there's nothing to say, everything has been settled in advance by alvert, even the idea of loss sharing agreement, which is the amulet to protect him from the most serious loss in the next few years, and there's no hesitation.
Moreover, he can save more than 7 billion dollars for the next bank merger and acquisition. He's so cool!
But I think Paulson and the Fed will be depressed!
Please report us if you find any errors so we can fix it asap!
$10 billion!
The hand touching his chin is slightly sluggish. Andy's eyes are shining brightly. His eyes are staring at the chief consultant of the think tank who is still indifferent. He is hesitant.
"Cough, let's put this matter aside for a while. Let's finish the acquisition of IndyMac federal bank first..."
Even if Andy covets this part of the fund, he will not give a definite answer at present. This kind of thing is a bit of a loser. Fortunately, he doesn't need to do it himself, but it will also attract some names.
For the first time, Andy's little Versailles Palace has become very busy because the final negotiations and details with FDIC are scheduled in the afternoon. After all, it will serve as a temporary office for more than 50 people.
After the meeting, Andy takes alvette to his luxurious study, sits on the chair, lights a cigar and frowns.
"Al, you gave me a big problem..."
Albright column light a smile, holding up the coffee slowly taste, for the young BOSS entanglement do not care.
"It's going to chill many Americans!" Andy's serious face, shrouded in cigar smoke, shows a touch of worry.
"There is no way to control the quantity and set a record, if not the worst, which is also one of the worst. The bank can only use this method to reduce the loss for those who can't repay the loan. You can't pay for it by the boss! The spirit of the contract must be carried out. Everyone is not a child. When the house price rises, when they make money, they don't pay the bank a dollar more!
Boss, your pity and sympathy are in the wrong place. It's business. It's business. It's not moral! "
the expression on alvette's face suddenly became serious, and he said calmly.
"Ha ha..." Andy shakes his head and laughs, but he knows that Al's words are correct. Indeed, he can't fail to repay the loan, let the bank lose money.
"Well, I'll leave it to you!"
Andy finally decided to deal with this matter in accordance with the practice of the United States, even if he knew that Al's deep meaning was to actively create foreclosure, let the court confiscate the property, and then sell it at a low price, trigger the loss sharing agreement of FDIC, and make up the loss from FDIC.
In the afternoon, in Pasadena, Los Angeles, in front of the headquarters Hall of IndyMac federal bank, Secretary of the U.S. savings administration Rick, head of the U.S. Federal Deposit Insurance Corporation, and a dozen bank executives looked at the huge convoy of more than a dozen SUVs and a black Rolls Royce coming from afar.
"Here they are!"
"Bang Bang Bang..."
The motorcade lined up in the square of the bank's headquarters, all the doors were opened, and a group of Wall Street elites with straight suits and dignified faces came down to quickly concentrate on the black Rolls Royce in the middle.
The tall and strong Kenny opened the door. Andy, who was also dressed in a stiff suit, got out of the car, stood in front of the car with a light smile, looked around, looked at the headquarters of IndyMac federal bank and the group of people who were walking down the steps from the front of the door. With a slight tilt of the corners of their mouths, he took the lead in greeting them.
Andy's huge team behind him makes the passers-by around IndyMac federal bank and the staff and customers in the bank hall look curiously. Everyone knows that something important is going to happen.
"Welcome, Mr. Smith. I'm Rick, Secretary of the savings administration. This is
"Hello..."
Andy shakes hands with the person in charge of the negotiation with a smile on his face. This is the first time Andy has met with them, and the last key Xing negotiation is to be held. In fact, there is nothing to talk about. It is mainly to confirm some agreement details, such as the staff problems of the bank, and some things that need cooperation.
After all, in the acquisition case of IndyMac bank, the bidding process was skipped directly, and it was not so "orderly", but there was no way to do it. At this time, only Andy Smith has the ability and the willingness to be the takeover man. FDIC would like to hand over the bank immediately.
A group of 780 people walked into the headquarters building of the bank, causing a lot of attention. They saw Andy Smith, the leader, and the people around him talking and laughing. At first, some customers worried about the problems of IndyMac federal bank could not help but think of a possibility. After all, FDIC had publicly stated in the early days that it would find a buyer for the bank.
"My God, Andy Smith is going to buy IndyMac federal bank..."
。。。。。。
Looking at the back of Andy's disappearance, all the people in the whole bank hall fell into a discussion, and the staff of the bank were also a little shocked. After that, they were worried. After all, no one knew whether they would be cut if they changed their new boss.
You should know that 3800 employees have been laid off before. Although there are not many real bank employees, most of them are loan Issuing Departments of the Ministry of housing and urban rural development, who can guarantee that the new boss will not cut them in order to reduce costs.In the conference room.
“。。。 There will be no layoffs for the time being. After all, before the bankruptcy, there were almost no layoffs. Moreover, the regulatory authorities also conducted a complete "autopsy". I believe that the current personnel composition is the most perfect state, which I have no problem with! "
Andy's words made everyone in the conference room show a strange expression, and American savings administration secretary Rick shook his head and smiled bitterly.
"Mr. Smith, if there is no objection, we can sign the agreement..." The head of FDIC hopes to throw away the hot potato in his hand as soon as possible. To be honest, taking over IndyMac federal bank is not good for FDIC at all. He not only has to constantly cash in the deposit compensation, but also faces the dilemma of being constantly withdrawn a large amount of cash every day.
"A purchase price of $1.5 billion plus an injection of $1.3 billion, right?" Andy smiled, looked at the other negotiation leaders, and confirmed again.
"No, no, Mr. Smith, I'm afraid you have made a mistake. The 1.3 billion yuan is the deposit of loss sharing agreement, which needs to be paid to our FDIC. The money injected by the bank is the money you support the operation of the bank."
Looking at the face of the head of FDIC, Andy said apologetically, "I'm sorry, maybe I'm wrong, Al, is that right?"
, everyone in the audience is not in the heart of a Tucao, Nima, make complaints about billions of dollars, fool will believe you understand wrong.
Secretary of the U.S. savings administration, Rick, was speechless, and even looked at Andy Smith, who was still teasing people. He knew that the young man in front of him had made $10 billion from the Federal Reserve to buy IndyMac federal bank.
But nobody expected that this deal involving 10 billion yuan would turn into a purchase case less than 3 billion yuan after three talks and two talks. NIMA, this is beyond many people's expectation.
But there's no way. IndyMac's main assets are $23.5 billion in commercial loans, mortgages and MBS. Many of these are highly toxic assets, almost many of which can't be recovered. Otherwise, how can they be called the subprime crisis? If they are also priced in the purchase price, I believe this bank can't sell them for a lifetime.
"Mr. Smith, we need to finish the transaction as soon as possible to boost the market. After all, the difficulties faced by the American banking industry are very arduous. The run cannot continue to spread. I believe that the terms of this transaction are very favorable for both sides, which I believe you know very well!"
Rick, the Secretary of the U.S. savings administration, who knows the truth, is not in the mood to continue to spend time with Andy Smith here. It is the biggest concession for FDIC to agree to sign the loss sharing agreement. At the same time, they are also worried about not making this guarantee. Andy Smith, after learning about its toxic assets and debts, directly puts on the hook.
"Well, that's it! The agreement can be signed immediately, and I hope you can cooperate with my people to take over the bank assets and avoid chaos. I don't want chaos again! "
Andy closes the agreement, looks serious, to be honest, there's nothing to say, everything has been settled in advance by alvert, even the idea of loss sharing agreement, which is the amulet to protect him from the most serious loss in the next few years, and there's no hesitation.
Moreover, he can save more than 7 billion dollars for the next bank merger and acquisition. He's so cool!
But I think Paulson and the Fed will be depressed!
$10 billion! The hand touching his chin is slightly sluggish. Andy's eyes are shining brightly. His eyes are staring at the chief consultant of the think tank who is still indifferent. He is hesitant. "Cough, let's put this matter aside for a while. Let's finish the acquisition of IndyMac federal bank first..." Even if Andy covets this part of the fund, he will not give a definite answer at present. This kind of thing is a bit of a loser. Fortunately, he doesn't need to do it himself, but it will also attract some names. For the first time, Andy's little Versailles Palace has become very busy because the final negotiations and details with FDIC are scheduled in the afternoon. After all, it will serve as a temporary office for more than 50 people. After the meeting, Andy takes alvette to his luxurious study, sits on the chair, lights a cigar and frowns. "Al, you gave me a big problem..." Albright column light a smile, holding up the coffee slowly taste, for the young BOSS entanglement do not care. "It's going to chill many Americans!" Andy's serious face, shrouded in cigar smoke, shows a touch of worry. "There is no way to control the quantity and set a record, if not the worst, which is also one of the worst. The bank can only use this method to reduce the loss for those who can't repay the loan. You can't pay for it by the boss! The spirit of the contract must be carried out. Everyone is not a child. When the house price rises, when they make money, they don't pay the bank a dollar more! Boss, your pity and sympathy are in the wrong place. It's business. It's business. It's not moral! "the expression on alvette's face suddenly became serious, and he said calmly. "Ha ha..." Andy shakes his head and laughs, but he knows that Al's words are correct. Indeed, he can't fail to repay the loan, let the bank lose money. "Well, I'll leave it to you!" Andy finally decided to deal with this matter in accordance with the practice of the United States, even if he knew that Al's deep meaning was to actively create foreclosure, let the court confiscate the property, and then sell it at a low price, trigger the loss sharing agreement of FDIC, and make up the loss from FDIC. In the afternoon, in Pasadena, Los Angeles, in front of the headquarters Hall of IndyMac federal bank, Secretary of the U.S. savings administration Rick, head of the U.S. Federal Deposit Insurance Corporation, and a dozen bank executives looked at the huge convoy of more than a dozen SUVs and a black Rolls Royce coming from afar. "Here they are!" "Bang Bang Bang..." The motorcade lined up in the square of the bank's headquarters, all the doors were opened, and a group of Wall Street elites with straight suits and dignified faces came down to quickly concentrate on the black Rolls Royce in the middle. The tall and strong Kenny opened the door. Andy, who was also dressed in a stiff suit, got out of the car, stood in front of the car with a light smile, looked around, looked at the headquarters of IndyMac federal bank and the group of people who were walking down the steps from the front of the door. With a slight tilt of the corners of their mouths, he took the lead in greeting them. Andy's huge team behind him makes the passers-by around IndyMac federal bank and the staff and customers in the bank hall look curiously. Everyone knows that something important is going to happen. "Welcome, Mr. Smith. I'm Rick, Secretary of the savings administration. This is "Hello..." Andy shakes hands with the person in charge of the negotiation with a smile on his face. This is the first time Andy has met with them, and the last key Xing negotiation is to be held. In fact, there is nothing to talk about. It is mainly to confirm some agreement details, such as the staff problems of the bank, and some things that need cooperation. After all, in the acquisition case of IndyMac bank, the bidding process was skipped directly, and it was not so "orderly", but there was no way to do it. At this time, only Andy Smith has the ability and the willingness to be the takeover man. FDIC would like to hand over the bank immediately. A group of 780 people walked into the headquarters building of the bank, causing a lot of attention. They saw Andy Smith, the leader, and the people around him talking and laughing. At first, some customers worried about the problems of IndyMac federal bank could not help but think of a possibility. After all, FDIC had publicly stated in the early days that it would find a buyer for the bank. "My God, Andy Smith is going to buy IndyMac federal bank..." Looking at the back of Andy's disappearance, all the people in the whole bank hall fell into a discussion, and the staff of the bank were also a little shocked. After that, they were worried. After all, no one knew whether they would be cut if they changed their new boss. You should know that 3800 employees have been laid off before. Although there are not many real bank employees, most of them are loan Issuing Departments of the Ministry of housing and urban rural development, who can guarantee that the new boss will not cut them in order to reduce costs.In the conference room. There will be no layoffs for the time being. After all, before the bankruptcy, there were almost no layoffs. Moreover, the regulatory authorities also conducted a complete "autopsy". I believe that the current personnel composition is the most perfect state, which I have no problem with! " Andy's words made everyone in the conference room show a strange expression, and American savings administration secretary Rick shook his head and smiled bitterly. "Mr. Smith, if there is no objection, we can sign the agreement..." The head of FDIC hopes to throw away the hot potato in his hand as soon as possible. To be honest, taking over IndyMac federal bank is not good for FDIC at all. He not only has to constantly cash in the deposit compensation, but also faces the dilemma of being constantly withdrawn a large amount of cash every day. "A purchase price of $1.5 billion plus an injection of $1.3 billion, right?" Andy smiled, looked at the other negotiation leaders, and confirmed again. "No, no, Mr. Smith, I'm afraid you have made a mistake. The 1.3 billion yuan is the deposit of loss sharing agreement, which needs to be paid to our FDIC. The money injected by the bank is the money you support the operation of the bank." Looking at the face of the head of FDIC, Andy said apologetically, "I'm sorry, maybe I'm wrong, Al, is that right?" , everyone in the audience is not in the heart of a Tucao, Nima, make complaints about billions of dollars, fool will believe you understand wrong. Secretary of the U.S. savings administration, Rick, was speechless, and even looked at Andy Smith, who was still teasing people. He knew that the young man in front of him had made $10 billion from the Federal Reserve to buy IndyMac federal bank. But nobody expected that this deal involving 10 billion yuan would turn into a purchase case less than 3 billion yuan after three talks and two talks. NIMA, this is beyond many people's expectation. But there's no way. IndyMac's main assets are $23.5 billion in commercial loans, mortgages and MBS. Many of these are highly toxic assets, almost many of which can't be recovered. Otherwise, how can they be called the subprime crisis? If they are also priced in the purchase price, I believe this bank can't sell them for a lifetime. "Mr. Smith, we need to finish the transaction as soon as possible to boost the market. After all, the difficulties faced by the American banking industry are very arduous. The run cannot continue to spread. I believe that the terms of this transaction are very favorable for both sides, which I believe you know very well!" Rick, the Secretary of the U.S. savings administration, who knows the truth, is not in the mood to continue to spend time with Andy Smith here. It is the biggest concession for FDIC to agree to sign the loss sharing agreement. At the same time, they are also worried about not making this guarantee. Andy Smith, after learning about its toxic assets and debts, directly puts on the hook. "Well, that's it! The agreement can be signed immediately, and I hope you can cooperate with my people to take over the bank assets and avoid chaos. I don't want chaos again! " Andy closes the agreement, looks serious, to be honest, there's nothing to say, everything has been settled in advance by alvert, even the idea of loss sharing agreement, which is the amulet to protect him from the most serious loss in the next few years, and there's no hesitation. Moreover, he can save more than 7 billion dollars for the next bank merger and acquisition. He's so cool! But I think Paulson and the Fed will be depressed!
