Rebirth of the Financial Crisis Sweeping the World

  Chapter 402 402 Silicon Valley Bank, lack of money

  At this time, Wang Guanxi spoke to the two people on the phone and said, “Didn’t you say that I borrowed less than US$100 million in credit? Now that I have borrowed US$300 million, you can slap yourself, haha”

  Gila Yuamin and Feroz Sanhavi will naturally not do it.

   "Hehe, 300 million U.S. dollars. I can borrow 3 billion U.S. dollars at any time by Feroz Sanhavi. You are also worthy to install X in front of me?" Feroz Sanhavi also boasted.

   "Wang Guanxi, don't think that you can bid for the shares of Silicon Valley Bank with me after a credit loan of 300 million US dollars!" Gilayu Amin also emphasized: "This Silicon Valley Bank is our Union Bank of India."

   "Hehe, 300 million US dollars, just stay and go!"

  Wang Guanxi smiled: "I have been in the photo for Silicon Valley Bank for a long time, and I will grab it."

  How could he cede Silicon Valley Bank to Union Bank of India? This Silicon Valley Bank is also a **** in his establishment of a consortium in the United States.

  Now the financial crisis is the best time to buy a bank. If this time is missed, the future will be difficult and more money will be needed.

  This is why Wang Guanxi spent US$750 million to acquire a 50% stake in Huntington Bank from AIG.

   "Haha, grab it? How do you grab it?" Gilayu Amin laughed.

  When Wang Guanxi was shorting Bank of America, he came to borrow stocks, and the money was not enough to mortgage the shares of Huntington Bank, and he borrowed US$500 million with them from Baroda Bank of India, Overseas Bank of India, and United Bank of India.

  Adding the original 320 million US dollars, the total debt is 820 million US dollars.

   "Wang Guanxi, sooner or later you will be insolvent. You don't have any extra funds now. Don't try to steal Silicon Valley Bank with me."

  Many customers of Silicon Valley Bank are high-tech companies, and they lend to high-tech companies. It is a well-known lending bank in the technology sector.

  His family is also a consortium in India, which not only owns Indian overseas banks, but also owns high-tech companies. It has invested in many companies in Silicon Valley in the United States.

  The acquisition of Silicon Valley Bank by the United Bank of India this time not only opens up the market in the United States, but also supports technology companies invested by the family.

  And Silicon Valley Bank has an international professional team in the field of technology, which is what they need.

  This Silicon Valley Bank, he is bound to win.

   "Wang Guanxi, I am bound to win, you have no money now, don't fight, I'm sleeping, that's it"

  Then the call ends.

  Wang Guanxi fell into deep thought, and now he really has no spare funds.

  He will not close short positions on Citibank, Wells Fargo, Bank of America, HSBC!

  But now I am short of money and have a lot of debt.

   still owes Wing Hang Bank HK$26.4 billion.

  The Bank of East Asia is US$750 million.

  Bank of Baroda, India Overseas Bank, United Bank of India, US$820 million.

  Tengxun Group’s equity was mortgaged to Saudi Prince Alwad.

  Huntington Bank’s equity is also mortgaged.

  Also, Amazon's equity has not yet been mortgaged.

  But this Amazon stock has other uses.

   Soon Wang Guanxi will go to the United States to set up.

  Investing in Twitter, Facebook, WeChat whatsapp, Uber, Tesla, SpaceX also requires a lot of money.

  But Wang Guanxi didn’t have any money, so he naturally needed a loan. He pledged Amazon’s stock to the bank, and then took a loan to invest in the United States.

   "There is no money now"

   "This Silicon Valley Bank is also very important to me, but I can't let the United Bank of India buy it."

   "You have to think of a way to continue borrowing money"

  "Get up tomorrow and give Feng Shaokun, Li Mingbin, let’s talk about it."

   Then Wang Guanxi took a bath and went to bed.

  January 18, Sunday, 1pm.

  Wang Guanxi woke up, glanced at the news, and found that data provider EurekahedgePte had released a report on the hedge fund industry.

  He looked at it carefully.

  At this time, the phone rang. It was from Dusty Franco, the head of Asia Pacific of Legg Mason.

   is connected.

  On the phone, Dusty Franco said: "Mr. Wang, the United Bank of India intends to acquire the Silicon Valley Bank of our Legg Mason Group. I will call you specifically to talk about it."

  "At present, they have communicated with our chairman, but I also told the chairman before that you plan to buy Silicon Valley Bank, so this time you bid with Union Bank of India."

  Wang Guanxi asked: "How much did they offer before?"

  Dusty Franco: "They gave the market price, and our chairman, Mr. Bill Miller, thought of you."

  Wang Guanxi said in a somewhat displeased tone: “If it weren’t for Gilayu Amin who told me that they were buying Silicon Valley Bank by Union Bank of India, I didn’t even know that you were going to sell the shares of Silicon Valley Bank.”

Dusty Franco said apologetically: "Mr. Wang, I also only found out last night. It was very late at that time and I didn't interrupt you to rest. I will call you as soon as possible today and tell you this. Things"

  Wang Guanxi asked again: "Why do you suddenly want to sell Silicon Valley Bank?"

Dusty Franco sighed: "Recently, the losses have been very miserable. Just now, a few large customers requested to redeem their funds. In addition, our own self-operated assets have also suffered huge losses, so our Legg Mason Group is not allowed to Don’t sell assets."

   Then he said: "Mr. Wang, did you know that the global hedge fund industry has suffered heavy losses now"

  Wang Guanxi smiled and said: ‘Of course I know, I read the report of the data provider EurekahedgePte. ’

An industry report just released today shows that in 2008 the global hedge fund industry suffered the largest loss in history, reaching 350 billion U.S. dollars. The reason was that the worst financial crisis since the Great Depression caused a sharp drop in returns and led investors to withdraw. funds.

  Data provider EurekahedgePte released a preliminary report today, stating that about 90% of the above-mentioned US$350 billion was lost in the three months ended at the end of November last year.

  From a regional perspective, hedge funds that invest in North America have the most serious losses, about 183 billion U.S. dollars.

  At the end of 2008, the total amount of the global hedge fund industry fell by about one-fifth from the previous historical high of US$1.9 trillion, to US$1.5 trillion!

  Hedge funds under Legg Mason Group have all suffered investment losses, and investors have withdrawn their capital.

  Affected by the credit crisis, hedge fund lenders were forced to withdraw their loans, and some funds had to sell their assets at low prices.

Dusti Franco: "The global economic growth rate is now slowing down, leading to the overall decline of the hedge fund industry. Everyone has fallen into a liquidity crisis. Our Legg Mason Group has also suffered huge losses and investors have redeemed them Back"

  Wang Guanxi nodded: "Yes, especially the Wall Street scam Bernard Madoff defrauded $65 billion. The scandal has made many investors more doubtful about the reliability of hedge funds."

Dusty Franco sighed: "Our Legg Mason Group invested in Bernard Madoff and lost more than one billion U.S. dollars, and then a company we invested in invested in Bernard Madoff. 80%!"

   "This time we were scammed by Bernard Madoff this time."

   "Plus the large number of redemptions from major customers, now we have to sell assets."

  Wang Guanxi heard it and asked, “Do you have any good assets besides Silicon Valley Bank for Legg Mason Group to sell?”

  Dusty Franco replied: "Not for the time being. If yes, Mr. Wang, I will let you know as soon as possible."

   Then he said: "By the way, Mr. Gilayu Amin from the Union Bank of India came to us to bid tonight. Are you free to come over?"

   "Well, I will be there then" After finishing the call, Wang Guanxi opened the stock price chart of Silicon Valley Bank.

  Silicon Valley Bank’s stock price is at $22 per share, and its total share capital is 54 million shares, and its market value is currently $1.188 billion.

  If you want to acquire 50% of the equity, based on the market price, it would cost about $600 million.

  Now there is Union Bank of India to bid, and more money is needed.

  This TM, Wang Guanxi has no money now.

  There is nothing that can be mortgaged.

  (End of this chapter)