Chapter 582
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Sonny is a multinational integrated enterprise of Japanese electronic products industry across the fields of electronic 3C, games, finance and entertainment. It has brand awareness all over the world. It is one of the world's largest manufacturers of electronic products and one of the three giants of the world's electronic game industry. In 2000, Sonny's market value was as high as 125 billion US dollars.
But since 2001 the global recession and the network bubble; Published in 1994, PS1 has not published original products for 10 years since its development; In the electronic field, because the Walkman does not support mp3 format, Apple's iPod digital Walkman is selling well all over the world, replacing the original position of the Walkman; WEGA, which owns Autolite technology, independently developed high-definition image technology and miscalculated the development of LCD TV, which made sharp and Samsung with LCD technology obtain the leading position of TV image... A series of decision mistakes and the continuous compression of electronic product prices made Soni an unprecedented success in 2000, but it has been seriously frustrated since 2002.
In April 2003, Sony released its financial statements for fiscal year 2002. After the disclosure of the company's huge losses, the Sony crisis began to emerge, which shocked Sony. Sony's stock fell by 25% for two consecutive days, and induced high-tech stocks in the Japanese stock market to plunge one after another, driving the Nikkei index to fall sharply, which shocked the Japanese stock market, and the stocks of high-tech companies were sold off one after another.
Yasuhiro Inoue has been criticized for dreaming too long and neglecting his business. In the past, he has been rated as the most successful CEO to become the worst CEO. Yasuhiro Inoue in December 2003 shows that the network is like a meteorite falling, and the dinosaurs have been wiped out. Now Soni has such a crisis.
At this time, the film and television business group with the most stable income suffered a devastating blow and ended in a disastrous defeat, which led to the unprecedented decline of this once brilliant electronic empire.
Sonny, who used to call the wind and rain in the world electronic market, can only survive in the miserable wind and rain.
Who is Sonny's greatest enemy? Mm? Of course not.
When Howard Figg joined Sonny in 1997, Samsung Electronics, the then Korean TV maker, was in the midst of the Asian financial crisis. However, in less than 10 years, the market value of Samsung Electronics is almost twice that of sonny. There is no doubt that Samsung Electronics is now Sonny's biggest competitor.
However, not only that, apple computer also monopolized the entire portable digital music player market with its iPod. In addition, Silicon Valley companies also surpassed Sonny in portable digital products such as PDA and digital video recorder. Even in the field of digital cameras, Sony is facing strong challenges from Kodak and canon.
Now Samsung is very different from Sony. At present, sonny is full of management and bureaucracy, while Samsung still maintains a concise style. A quarter of its 88000 employees are R & D personnel.
There are many high-level factions, such as Kuo Ando, Nobuyuki Inoue, Liangji Nakai, Takahashi shengmei, and internal fighting, which makes the market share of this electronic Empire facing challenges from all directions shrink day by day.
However, he still has a certain appeal in the United States. The generation who witnessed Soni's brilliance is not old and is still the main consumer. However, it would be unwise to withdraw from the largest overseas market in the United States because of mm.
Did the Sonny board yield to the government? Of course not. They are also cruel people who lick blood with a knife. They need to be afraid of those politicians? They gave in to money.
David Ellison, executive vice president of mm, went to Tokyo, Japan to visit the headquarters of Soni in Tokyo. At the same time, he met with several bosses of Soni. He brought two plans.
Plan a, 21 cooperation plans involving US $4.2 billion, including the US $1.1 billion acquisition of the US headquarters in Sonny, which is US $1 higher than the highest bid at present.
In plan B, mm, apple and Oracle system tried their best to block sonny. Every day since then, the three groups will take Sonny as their own responsibility. So far, sonny has given up hostile publicity and targeting against mm, which means that the Japanese market has deviated from mm.
Cooperation is beneficial to both sides. Cutting each other is just hurting each other and stabbing each other's wallets. Therefore, investors on both sides do not resist cooperation.
Sonny's glory is yesterday's yellow flower, and looking forward to the future is the most important. In those days, in order to compete for control of the Pacific region, the United States and Japan came out of the dog's head. Isn't it a happy cooperation now? Therefore, win-win cooperation is the king, parents are not as good as money, and everyone's joint efforts to grab money is the king.
Since then, mm has ended the cold war with Sonny for nearly four years, and MM's capital has been able to enter Japan, making its global TV network chain stronger and stronger. Bijing is one of the G7 countries and the world's second largest economy (temporarily). Mm can't enter here. Mm can only sell the distribution right to Warner, making tens of millions less every year. In addition, their world's first blockbuster library can't get copyright protection here, Lose more money, Japanese people's money, do not earn in vain.
Moreover, for Japan, a secondary country, film and television peripheral products have always been popular. As a multinational company engaged in film and television cultural industry, this is a big market.
MM's entry here is mainly due to Soni's promotion of government restrictions. Their vigorous promotion of anti rice publicity is the main obstacle to MM's entry. Now an agreement has been finally reached, which makes mm series products unimpeded here.
David negotiated with Sonny in Japan, while mark stayed at home, mainly to accompany Giselle and little Martin. Giselle's second child was about to be born, and the due date was these days. Mark didn't want to miss his son's birth like last time.
Although there is a huge company to manage, Mark decided not to interfere in the company's affairs after September. He will spend these two months with his wife and son. This is Mark's second child (strictly speaking, the third). Its arrival is a sign of the prosperity and growth of the family. Little Martin began to babble, which brings so much fun to the family.
Mark and Giselle are both tall and strong, with an average height of 1.87 meters. They are called by the media and have the strongest genes. This little Martin inherited the excellent genes of his parents and is much taller than his children of the same age. As the heir of the 10 billion Empire, he automatically has the right to inherit property of no less than US $1 billion at birth. He is one of the rare billionaires on the planet, Really born with a golden key.
A rich family like mark, of course, is prepared to have family doctors. When the due date is approaching, they also hired several nurses and set up a team at home, which can complete production at home. Of course, in order to ensure safety, it is better to produce in the hospital.
With Giselle's due date approaching, all relevant information about the child has become one of the most concerned topics, which has naturally become the object of paparazzi. They booked delivery rooms in five hospitals and were found out by the powerful paparazzi. Unexpectedly, paparazzi reporters applied to be cleaners and waited here.
Mark is so angry that he scolds his mother. The paparazzi is God. If federal agents had such a collar, they would have caught * * long ago. They had to book the hospital again. As a public figure and a big family, mark will publish relevant information about people in the family, but he hopes to publish it by himself, not others. This is the trouble of popular public figures.
Like many superstars, they are tired of reporters when they are popular. They think that journalists have violated their privacy and disturbed their lives, but they miss the benefits of journalists after they are out of breath.
A new life is coming. The whole family is jubilant and the family business is booming. In just a few years, the capital controlled by the family fund is as much as tens of billions, which is not inferior to the leishidong family and Meiyi family. Moreover, they are younger, more energetic and have three Killers: Guge, Pingguo and mianshu. It is only time to surpass the Gates family, which makes them more confident.
In addition, the financial tsunami is coming, and Mark's family fund should also be prepared. This family fund has entered the formal track. It is an industrial fund, not a hedge fund. Mark doesn't want to make money by relying on the sword, but he doesn't want the fund to shrink.
Therefore, with regard to the attitude towards the crisis, his instruction to Sophia is to sell short futures immediately once the government decides to give up any of the five investment banks.
The loan bubble can be said to be a big launch out of five big investment banks, which can not be tidied up today. When they make big money, their luxury houseboats and private aircraft are lavishly wasted. Now they are in a huge loss that they can not extricate themselves from. They hope that the government will rescue the market, that is, taxpayers can be buried.
No matter whether you bury them, you can make trouble and toss around. There is no better fat difference, but the taxpayer's wallet and patience are limited. Once you don't give blood to these vampires, it will be unsustainable immediately and everyone will be finished.
Since the outbreak of the subprime housing credit crisis, investors began to lose confidence in the value of mortgage-backed securities, leading to a liquidity crisis. Even if the central banks of many countries have repeatedly injected huge amounts of funds into the financial market, they can not prevent the outbreak of the financial crisis.
On Sunday, September 14, Lehman Brothers filed for bankruptcy after the American Federal Reserve refused to provide financial support assistance, and Merrill Lynch announced that it was acquired by Bank of America on the same day.
These two events marked the prelude to the global stock market crash in September 2008 in the following week. The market value of the global stock market plummeted on Monday, September 15 and Wednesday, September 17. On September 16, American International Group (AIG) was downgraded because it held many expired contracts with defaulted credit, The insurance group itself was also in a liquidity crisis. When AIG confirmed that it could not find a lender willing to provide loans to it and save it from bankruptcy, the Federal Reserve provided AIG with interbank credit financing facilities of up to US $85 billion at the request of AIG, on the condition that it obtained 79.9% of AIG's equity capital, And have the right to suspend the distribution of dividends or shares on the previously issued ordinary shares and preferred shares.
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Sonny is a multinational integrated enterprise of Japanese electronic products industry across the fields of electronic 3C, games, finance and entertainment. It has brand awareness all over the world. It is one of the world's largest manufacturers of electronic products and one of the three giants of the world's electronic game industry. In 2000, Sonny's market value was as high as 125 billion US dollars.
But since 2001 the global recession and the network bubble; Published in 1994, PS1 has not published original products for 10 years since its development; In the electronic field, because the Walkman does not support mp3 format, Apple's iPod digital Walkman is selling well all over the world, replacing the original position of the Walkman; WEGA, which owns Autolite technology, independently developed high-definition image technology and miscalculated the development of LCD TV, which made sharp and Samsung with LCD technology obtain the leading position of TV image... A series of decision mistakes and the continuous compression of electronic product prices made Soni an unprecedented success in 2000, but it has been seriously frustrated since 2002.
In April 2003, Sony released its financial statements for fiscal year 2002. After the disclosure of the company's huge losses, the Sony crisis began to emerge, which shocked Sony. Sony's stock fell by 25% for two consecutive days, and induced high-tech stocks in the Japanese stock market to plunge one after another, driving the Nikkei index to fall sharply, which shocked the Japanese stock market, and the stocks of high-tech companies were sold off one after another.
Yasuhiro Inoue has been criticized for dreaming too long and neglecting his business. In the past, he has been rated as the most successful CEO to become the worst CEO. Yasuhiro Inoue in December 2003 shows that the network is like a meteorite falling, and the dinosaurs have been wiped out. Now Soni has such a crisis.
At this time, the film and television business group with the most stable income suffered a devastating blow and ended in a disastrous defeat, which led to the unprecedented decline of this once brilliant electronic empire.
Sonny, who used to call the wind and rain in the world electronic market, can only survive in the miserable wind and rain.
Who is Sonny's greatest enemy? Mm? Of course not.
When Howard Figg joined Sonny in 1997, Samsung Electronics, the then Korean TV maker, was in the midst of the Asian financial crisis. However, in less than 10 years, the market value of Samsung Electronics is almost twice that of sonny. There is no doubt that Samsung Electronics is now Sonny's biggest competitor.
However, not only that, apple computer also monopolized the entire portable digital music player market with its iPod. In addition, Silicon Valley companies also surpassed Sonny in portable digital products such as PDA and digital video recorder. Even in the field of digital cameras, Sony is facing strong challenges from Kodak and canon.
Now Samsung is very different from Sony. At present, sonny is full of management and bureaucracy, while Samsung still maintains a concise style. A quarter of its 88000 employees are R & D personnel.
There are many high-level factions, such as Kuo Ando, Nobuyuki Inoue, Liangji Nakai, Takahashi shengmei, and internal fighting, which makes the market share of this electronic Empire facing challenges from all directions shrink day by day.
However, he still has a certain appeal in the United States. The generation who witnessed Soni's brilliance is not old and is still the main consumer. However, it would be unwise to withdraw from the largest overseas market in the United States because of mm.
Did the Sonny board yield to the government? Of course not. They are also cruel people who lick blood with a knife. They need to be afraid of those politicians? They gave in to money.
David Ellison, executive vice president of mm, went to Tokyo, Japan to visit the headquarters of Soni in Tokyo. At the same time, he met with several bosses of Soni. He brought two plans.
Plan a, 21 cooperation plans involving US $4.2 billion, including the US $1.1 billion acquisition of the US headquarters in Sonny, which is US $1 higher than the highest bid at present.
In plan B, mm, apple and Oracle system tried their best to block sonny. Every day since then, the three groups will take Sonny as their own responsibility. So far, sonny has given up hostile publicity and targeting against mm, which means that the Japanese market has deviated from mm.
Cooperation is beneficial to both sides. Cutting each other is just hurting each other and stabbing each other's wallets. Therefore, investors on both sides do not resist cooperation.
Sonny's glory is yesterday's yellow flower, and looking forward to the future is the most important. In those days, in order to compete for control of the Pacific region, the United States and Japan came out of the dog's head. Isn't it a happy cooperation now? Therefore, win-win cooperation is the king, parents are not as good as money, and everyone's joint efforts to grab money is the king.
Since then, mm has ended the cold war with Sonny for nearly four years, and MM's capital has been able to enter Japan, making its global TV network chain stronger and stronger. Bijing is one of the G7 countries and the world's second largest economy (temporarily). Mm can't enter here. Mm can only sell the distribution right to Warner, making tens of millions less every year. In addition, their world's first blockbuster library can't get copyright protection here, Lose more money, Japanese people's money, do not earn in vain.
Moreover, for Japan, a secondary country, film and television peripheral products have always been popular. As a multinational company engaged in film and television cultural industry, this is a big market.
MM's entry here is mainly due to Soni's promotion of government restrictions. Their vigorous promotion of anti rice publicity is the main obstacle to MM's entry. Now an agreement has been finally reached, which makes mm series products unimpeded here.
David negotiated with Sonny in Japan, while mark stayed at home, mainly to accompany Giselle and little Martin. Giselle's second child was about to be born, and the due date was these days. Mark didn't want to miss his son's birth like last time.
Although there is a huge company to manage, Mark decided not to interfere in the company's affairs after September. He will spend these two months with his wife and son. This is Mark's second child (strictly speaking, the third). Its arrival is a sign of the prosperity and growth of the family. Little Martin began to babble, which brings so much fun to the family.
Mark and Giselle are both tall and strong, with an average height of 1.87 meters. They are called by the media and have the strongest genes. This little Martin inherited the excellent genes of his parents and is much taller than his children of the same age. As the heir of the 10 billion Empire, he automatically has the right to inherit property of no less than US $1 billion at birth. He is one of the rare billionaires on the planet, Really born with a golden key.
A rich family like mark, of course, is prepared to have family doctors. When the due date is approaching, they also hired several nurses and set up a team at home, which can complete production at home. Of course, in order to ensure safety, it is better to produce in the hospital.
With Giselle's due date approaching, all relevant information about the child has become one of the most concerned topics, which has naturally become the object of paparazzi. They booked delivery rooms in five hospitals and were found out by the powerful paparazzi. Unexpectedly, paparazzi reporters applied to be cleaners and waited here.
Mark is so angry that he scolds his mother. The paparazzi is God. If federal agents had such a collar, they would have caught * * long ago. They had to book the hospital again. As a public figure and a big family, mark will publish relevant information about people in the family, but he hopes to publish it by himself, not others. This is the trouble of popular public figures.
Like many superstars, they are tired of reporters when they are popular. They think that journalists have violated their privacy and disturbed their lives, but they miss the benefits of journalists after they are out of breath.
A new life is coming. The whole family is jubilant and the family business is booming. In just a few years, the capital controlled by the family fund is as much as tens of billions, which is not inferior to the leishidong family and Meiyi family. Moreover, they are younger, more energetic and have three Killers: Guge, Pingguo and mianshu. It is only time to surpass the Gates family, which makes them more confident.
In addition, the financial tsunami is coming, and Mark's family fund should also be prepared. This family fund has entered the formal track. It is an industrial fund, not a hedge fund. Mark doesn't want to make money by relying on the sword, but he doesn't want the fund to shrink.
Therefore, with regard to the attitude towards the crisis, his instruction to Sophia is to sell short futures immediately once the government decides to give up any of the five investment banks.
The loan bubble can be said to be a big launch out of five big investment banks, which can not be tidied up today. When they make big money, their luxury houseboats and private aircraft are lavishly wasted. Now they are in a huge loss that they can not extricate themselves from. They hope that the government will rescue the market, that is, taxpayers can be buried.
No matter whether you bury them, you can make trouble and toss around. There is no better fat difference, but the taxpayer's wallet and patience are limited. Once you don't give blood to these vampires, it will be unsustainable immediately and everyone will be finished.
Since the outbreak of the subprime housing credit crisis, investors began to lose confidence in the value of mortgage-backed securities, leading to a liquidity crisis. Even if the central banks of many countries have repeatedly injected huge amounts of funds into the financial market, they can not prevent the outbreak of the financial crisis.
On Sunday, September 14, Lehman Brothers filed for bankruptcy after the American Federal Reserve refused to provide financial support assistance, and Merrill Lynch announced that it was acquired by Bank of America on the same day.
These two events marked the prelude to the global stock market crash in September 2008 in the following week. The market value of the global stock market plummeted on Monday, September 15 and Wednesday, September 17. On September 16, American International Group (AIG) was downgraded because it held many expired contracts with defaulted credit, The insurance group itself was also in a liquidity crisis. When AIG confirmed that it could not find a lender willing to provide loans to it and save it from bankruptcy, the Federal Reserve provided AIG with interbank credit financing facilities of up to US $85 billion at the request of AIG, on the condition that it obtained 79.9% of AIG's equity capital, And have the right to suspend the distribution of dividends or shares on the previously issued ordinary shares and preferred shares.
Sonny is a multinational integrated enterprise of Japanese electronic products industry across the fields of electronic 3C, games, finance and entertainment. It has brand awareness all over the world. It is one of the world's largest manufacturers of electronic products and one of the three giants of the world's electronic game industry. In 2000, Sonny's market value was as high as 125 billion US dollars.But since 2001 the global recession and the network bubble; Published in 1994, PS1 has not published original products for 10 years since its development; In the electronic field, because the Walkman does not support mp3 format, Apple's iPod digital Walkman is selling well all over the world, replacing the original position of the Walkman; WEGA, which owns Autolite technology, independently developed high-definition image technology and miscalculated the development of LCD TV, which made sharp and Samsung with LCD technology obtain the leading position of TV image... A series of decision mistakes and the continuous compression of electronic product prices made Soni an unprecedented success in 2000, but it has been seriously frustrated since 2002.In April 2003, Sony released its financial statements for fiscal year 2002. After the disclosure of the company's huge losses, the Sony crisis began to emerge, which shocked Sony. Sony's stock fell by 25% for two consecutive days, and induced high-tech stocks in the Japanese stock market to plunge one after another, driving the Nikkei index to fall sharply, which shocked the Japanese stock market, and the stocks of high-tech companies were sold off one after another.Yasuhiro Inoue has been criticized for dreaming too long and neglecting his business. In the past, he has been rated as the most successful CEO to become the worst CEO. Yasuhiro Inoue in December 2003 shows that the network is like a meteorite falling, and the dinosaurs have been wiped out. Now Soni has such a crisis.At this time, the film and television business group with the most stable income suffered a devastating blow and ended in a disastrous defeat, which led to the unprecedented decline of this once brilliant electronic empire.Sonny, who used to call the wind and rain in the world electronic market, can only survive in the miserable wind and rain.Who is Sonny's greatest enemy? Mm? Of course not.When Howard Figg joined Sonny in 1997, Samsung Electronics, the then Korean TV maker, was in the midst of the Asian financial crisis. However, in less than 10 years, the market value of Samsung Electronics is almost twice that of sonny. There is no doubt that Samsung Electronics is now Sonny's biggest competitor.However, not only that, apple computer also monopolized the entire portable digital music player market with its iPod. In addition, Silicon Valley companies also surpassed Sonny in portable digital products such as PDA and digital video recorder. Even in the field of digital cameras, Sony is facing strong challenges from Kodak and canon.Now Samsung is very different from Sony. At present, sonny is full of management and bureaucracy, while Samsung still maintains a concise style. A quarter of its 88000 employees are R & D personnel.There are many high-level factions, such as Kuo Ando, Nobuyuki Inoue, Liangji Nakai, Takahashi shengmei, and internal fighting, which makes the market share of this electronic Empire facing challenges from all directions shrink day by day.However, he still has a certain appeal in the United States. The generation who witnessed Soni's brilliance is not old and is still the main consumer. However, it would be unwise to withdraw from the largest overseas market in the United States because of mm.Did the Sonny board yield to the government? Of course not. They are also cruel people who lick blood with a knife. They need to be afraid of those politicians? They gave in to money.David Ellison, executive vice president of mm, went to Tokyo, Japan to visit the headquarters of Soni in Tokyo. At the same time, he met with several bosses of Soni. He brought two plans.Plan a, 21 cooperation plans involving US $4.2 billion, including the US $1.1 billion acquisition of the US headquarters in Sonny, which is US $1 higher than the highest bid at present.In plan B, mm, apple and Oracle system tried their best to block sonny. Every day since then, the three groups will take Sonny as their own responsibility. So far, sonny has given up hostile publicity and targeting against mm, which means that the Japanese market has deviated from mm.Cooperation is beneficial to both sides. Cutting each other is just hurting each other and stabbing each other's wallets. Therefore, investors on both sides do not resist cooperation.Sonny's glory is yesterday's yellow flower, and looking forward to the future is the most important. In those days, in order to compete for control of the Pacific region, the United States and Japan came out of the dog's head. Isn't it a happy cooperation now? Therefore, win-win cooperation is the king, parents are not as good as money, and everyone's joint efforts to grab money is the king.Since then, mm has ended the cold war with Sonny for nearly four years, and MM's capital has been able to enter Japan, making its global TV network chain stronger and stronger. Bijing is one of the G7 countries and the world's second largest economy temporarily. Mm can't enter here. Mm can only sell the distribution right to Warner, making tens of millions less every year. In addition, their world's first blockbuster library can't get copyright protection here, Lose more money, Japanese people's money, do not earn in vain.Moreover, for Japan, a secondary country, film and television peripheral products have always been popular. As a multinational company engaged in film and television cultural industry, this is a big market.MM's entry here is mainly due to Soni's promotion of government restrictions. Their vigorous promotion of anti rice publicity is the main obstacle to MM's entry. Now an agreement has been finally reached, which makes mm series products unimpeded here.David negotiated with Sonny in Japan, while mark stayed at home, mainly to accompany Giselle and little Martin. Giselle's second child was about to be born, and the due date was these days. Mark didn't want to miss his son's birth like last time.Although there is a huge company to manage, Mark decided not to interfere in the company's affairs after September. He will spend these two months with his wife and son. This is Mark's second child strictly speaking, the third. Its arrival is a sign of the prosperity and growth of the family. Little Martin began to babble, which brings so much fun to the family.Mark and Giselle are both tall and strong, with an average height of 1.87 meters. They are called by the media and have the strongest genes. This little Martin inherited the excellent genes of his parents and is much taller than his children of the same age. As the heir of the 10 billion Empire, he automatically has the right to inherit property of no less than US $1 billion at birth. He is one of the rare billionaires on the planet, Really born with a golden key.A rich family like mark, of course, is prepared to have family doctors. When the due date is approaching, they also hired several nurses and set up a team at home, which can complete production at home. Of course, in order to ensure safety, it is better to produce in the hospital.With Giselle's due date approaching, all relevant information about the child has become one of the most concerned topics, which has naturally become the object of paparazzi. They booked delivery rooms in five hospitals and were found out by the powerful paparazzi. Unexpectedly, paparazzi reporters applied to be cleaners and waited here.Mark is so angry that he scolds his mother. The paparazzi is God. If federal agents had such a collar, they would have caught * * long ago. They had to book the hospital again. As a public figure and a big family, mark will publish relevant information about people in the family, but he hopes to publish it by himself, not others. This is the trouble of popular public figures.Like many superstars, they are tired of reporters when they are popular. They think that journalists have violated their privacy and disturbed their lives, but they miss the benefits of journalists after they are out of breath.A new life is coming. The whole family is jubilant and the family business is booming. In just a few years, the capital controlled by the family fund is as much as tens of billions, which is not inferior to the leishidong family and Meiyi family. Moreover, they are younger, more energetic and have three Killers: Guge, Pingguo and mianshu. It is only time to surpass the Gates family, which makes them more confident.In addition, the financial tsunami is coming, and Mark's family fund should also be prepared. This family fund has entered the formal track. It is an industrial fund, not a hedge fund. Mark doesn't want to make money by relying on the sword, but he doesn't want the fund to shrink.Therefore, with regard to the attitude towards the crisis, his instruction to Sophia is to sell short futures immediately once the government decides to give up any of the five investment banks.The loan bubble can be said to be a big launch out of five big investment banks, which can not be tidied up today. When they make big money, their luxury houseboats and private aircraft are lavishly wasted. Now they are in a huge loss that they can not extricate themselves from. They hope that the government will rescue the market, that is, taxpayers can be buried.No matter whether you bury them, you can make trouble and toss around. There is no better fat difference, but the taxpayer's wallet and patience are limited. Once you don't give blood to these vampires, it will be unsustainable immediately and everyone will be finished.Since the outbreak of the subprime housing credit crisis, investors began to lose confidence in the value of mortgage-backed securities, leading to a liquidity crisis. Even if the central banks of many countries have repeatedly injected huge amounts of funds into the financial market, they can not prevent the outbreak of the financial crisis.On Sunday, September 14, Lehman Brothers filed for bankruptcy after the American Federal Reserve refused to provide financial support assistance, and Merrill Lynch announced that it was acquired by Bank of America on the same day.These two events marked the prelude to the global stock market crash in September 2008 in the following week. The market value of the global stock market plummeted on Monday, September 15 and Wednesday, September 17. On September 16, American International Group AIG was downgraded because it held many expired contracts with defaulted credit, The insurance group itself was also in a liquidity crisis. When AIG confirmed that it could not find a lender willing to provide loans to it and save it from bankruptcy, the Federal Reserve provided AIG with interbank credit financing facilities of up to US $85 billion at the request of AIG, on the condition that it obtained 79.9% of AIG's equity capital, And have the right to suspend the distribution of dividends or shares on the previously issued ordinary shares and preferred shares.
