Rebirth

This kind of party reception is like this. In fact, it is mainly a place for socializing. No, Li Feng began to meet various people and expand his network resources in the United States.

Today's Li Feng naturally has the qualifications that no one can underestimate. Similarly, watching the young man who has just turned 18 in front of him chatting and laughing with him, still provokes a group of old guys to look at him, it is too conspicuous.

It is estimated that I feel in my heart, why can't the younger generation of my family have such a character.After all, whether it is a group of bigwigs before or a group of Wall Street bigwigs now, this group of people are counted as old, and the younger ones are at least 4 or 50 years old. If they are older, they are even 7, 80 or even older. It's close to 90.

It’s not because you don’t have outstanding descendants to take care of your family business when you are older. If your children and grandchildren have outstanding abilities, it is estimated that the older guys would have let them inherit the business long ago.

It is true that the children and grandchildren are not able to work hard, so they can only let a group of old guys come out to support. It is no wonder that a group of old guys are envious and jealous of Li Feng, and even imagine that if their sons and grandsons have half the ability of St. You can enjoy your twilight years.

Now that I have taken over PNC’s shares in BlackRock, I am officially stationed on Wall Street. I really want to say that I am now a bigwig on Wall Street. BlackRock controls hundreds of billions of dollars in assets, which is considered small. Make a difference.

Larry Fink brought Li Feng over to get to know everyone who is on Wall Street. Obviously, he expanded his contacts on Wall Street. In this regard, Li Feng also holds the attitude of making friends. Therefore, Li Feng and several big cows We all had a very pleasant chat.

...

What kind of people Larry Fink introduced to himself this time? Fidelity Investment will not say anything. The financial investment group that can be compared with BlackRock in later generations controls assets in units of trillions; others such as Bridgewater Fund , Known as the No. 1 Hedge Fund; Blackstone Group, the world's No. 1 alternative asset management group, etc., all exist on Wall Street.

The financial industry of the United States today is said to be undergoing unprecedented changes. Since the establishment of the Glass Stigl Act of the banking industry in the 1930s, the financial giants of the United States have suffered a heavy blow. The most well-known is naturally Morgan The core of the consortium, Morgan Bank, was divided into two, becoming today's JP Morgan Bank and Morgan Stanley.

The former is a commercial bank, and the latter is an investment bank. The Glass Stigl Act is also the famous American Financial Bank Antitrust Act, which stipulates that financial bank holding groups cannot operate commercial banks and investment banks at the same time, completely separating the two To operate.

With the passage of time, the implementation of the bill has caused the profits of commercial banks to decline sharply. Non-bank corporate groups have invaded the loan business of commercial banks, which is inconsistent with the financial development situation and is the main obstacle for banks to expand into other financial fields.

In the 1980s, it was opposed by many commercial banks. As early as in 1988, it was the first attempt to abolish the banking antitrust law. Although it was unsuccessful, it increased the proportion of investment banks where commercial banks were located.

The initial complete separation of investment banks continued to increase the proportion of holding banking groups from 5% to 25% to 50% today. Especially with the merger of Citibank and Traveller Group this year, Citigroup once again became the number one in the United States. A financial conglomerate that aggregates all financial products has made the bill exist in name only.

...

This time I met with Li Feng, all of the bigwigs on Wall Street. After speaking, they finally talked about the current American financial industry. The issue of monopoly law, which is closely related to the financial and banking industry, is naturally the focus. Speaking of the government's possible cancellation of the anti-monopoly bill, this is a major event closely related to itself.

"Indeed, the Glass Stigl Act played an important role in the recovery of the American economy and the supervision of the financial and banking industry. However, with the passage of time, the Act has indeed become less and less applicable. It’s time for a complete change.” Paul Walker, the former Fed leader, said with a smile.

"Paul, are you sure? Everyone, in this case, should we celebrate? I think the spring of the American financial and banking industry has come again."

"What is uncertain and certain. Now the banking industry is undergoing mergers, and the merger of Citigroup and Traveller in the first half of this year, doesn't this mean that the Glass Stigl Act is dead in name!"

"Yeah, the damn Glass Stigl Act, I think it's time to come to an end."

"The new century is a new situation. This is good news for all of us."

"..."

"It's a pity that the big guys at JP Morgan and Morgan Stanley can't see today this day, it can be regarded as a day they never dreamed of."

Bloomberg, the Wall Street tycoon, interrupted and joked with a smile, leaving everyone speechless for a while.

"Uh…"

"Ha ha…"

"Haha..., really...!"

...

Speaking of Bloomberg’s last words, it’s true that when the Glass Stigl Act was established that year, the core of the famous Morgan Consortium, Morgan Bank, was forced to split into two. Eventually, Morgan Bank could only be in commercial banks. Choose one of the two investment banks, and the Morgan Consortium chose to retain the commercial bank of Morgan Bank, which is now JP Morgan Bank.

Unexpectedly, Morgan Stanley's development was faster than commercial banks. The investment bank that was spun off became the new bigwig on Wall Street. When Morgan was just spun off, whether it was JP Morgan or Morgan Stanley. The big guys in China are all dreaming about the day when the two Morgans can reconsolidate.

The time for this day is now ripe. Unfortunately, it is almost impossible for JP Morgan and Morgan Stanley to merge into the Morgan Group. After all, Morgan Stanley has almost no shares in the Morgan family.

And in every respect, Wall Street would not want an institution like Morgan Bank to appear again.No wonder, in the end, Michael Bloomberg’s jokes made everyone laugh and speechless.

It can be said that Citi is the leading bird of Wall Street against Washington, and the five major investment banks that Wall Street calls for trouble have declined one after another. In addition to investment banks' ability to resist financial risks compared to commercial banks, it is not without Wall Street itself targeting cancellation. The new natural adjustment of the financial antitrust bill.

The assets controlled by large financial institutions in the 1990s were at most 100 billion yuan, but at the beginning of the new century, many large financial institutions have rapidly entered the trillions through mergers and reorganizations of all parties.

After 10 years of the new century, the assets controlled by financial institutions such as BlackRock and Fidelity have reached trillions of dollars in assets and leaped toward the order of 10 trillion.

...

As a rebirth, Li Feng is now a side of Wall Street, and he is even more closely related.

Thinking about the scale of the super financial giants of later generations, and thinking about the changes in the financial and banking industry since the 1980s and 1990s, Li Feng can only feel in his heart, and his CSCB cannot lag behind.