“Short sale the subprime market
completely and push the subprime
mortgage crisis to its peak. Today, the
four major investment banks will have to
lose something, which will serve as burial
offerings for the losses Somerland has
suffered.”
Jasper’s words destined that today would g
o down in the annals of history.
As soon as the United States financial
market opened, the market was turbulent,
even before JW Foundation could make a
move.
It was the age of information and news
could be delivered extremely fast. An
event in the northern hemisphere could b
e transmitted to the southern hemisphere
in an instant, much less the tragic
incident of Somerland’s stock and futures
markets being sniped by Wall Street
capital in the United States.
Therefore, the United States financial
market had long been psychologically
prepared to face the insane revenge
carried out JW Foundation. Even so, they did not expect the
determination and strength of JW
Foundation to be so great.
Five minutes after the opening, the
already crippled subprime market was
once again shorted by JW Foundation.
The sky-high empty orders filled the
subprime market with the smell of blood.
Falls, falls, and falls!
Everything was falling!
As long as it was a traded product, it was
falling.
Financial products shrunk dramatically,
and their market values were depreciating
with every passing minute and second.
Under such high pressure, a magical
scene appeared.
There were only sell orders in the
subprime market.
“Today JW Foundation will inevitably
launch bloody revenge. At this time, no
idiot will enter the market to take them on.”.
The president of Morgan Bank frowned
and said.
“But if this continues, the entire market
will crash,” the assistant said cautiously.
“Let it crash then. This is what we
expected anyway, and they have chosen a
bank as the sacrifice to calm Jasper’s
anger, isn’t it?”
The president of Morgan Bank had a half
smile on his face. It was a rather weird
expression.
He looked as if he was basking in
schadenfreude, but at the same time, he
looked as if he was having mixed feelings.
“I didn’t think there would come a day
where we would need to quell the enemy’s
anger with a sacrificial lamb.”
The first to bear the brunt of the collapse o
f the subprime market was Layman
Investment Bank, which had accumulated
a large number of assets in the subprime
market and could not escape because of
the lock-up.
Today, Layman Investment Bank
remained the same, but the people inside changed.
Dugg was no longer sitting in the
chairman’s office, but instead, it was Half
-the-Harbor Langdon.
At this moment, Half-the-Harbor
Langdon had a gloomy expression on his
face as he listened to Kayden’s report.
“Dad, if the market continues like this,
Layman’s net asset value will keep
dropping, and on the contrary, our debt
will grow higher and higher.
“I have read the financial reports of
investment banks. The entire investment
bank has tens of billions of dollars in the
subprime market that cannot be
recovered. The sunk cost of this alone is a
huge burden!
“What’s even more extreme is that nearly
a quarter of the credit products were
bought when the market price was at its
highest. There is still at least one year
before the expiration of the credit
products, but their value has shrunk by as
much as 70%.
“In other words, these assets have cost us
more than 6 billion US Dollars so far.”
Kayden became more frightened as he
spoke. Then, he gritted his teeth and
continued, “And once these credit
products are completely converted into
waste paper by Jasper, the tens of billions
of dollars in debt alone will be enough to
crush us.”
Half-the-Harbor Langdon spoke blankly
and calmly, “I have transferred 20 billion
Harbor Dollars from Fongroup. Use this
money to deliver Layman’s high-priced
contracts into the subprime market first,
and then we’ll think of other solutions.”
Kayden was taken aback.
Only the family members knew what was
going on in the family.
Both of them had already used up all of
their wealth to buy Layman Investment
Bank.
So, where did this 20 billion come from?
“Dad, did you…”
Before Kayden could finish, Half-the
Harbor Langdon answered, “I used the
family’s investment trust fund as
collateral.” Kayden’s heart trembled as he said, ” That’s our last escape route.”
“Kayden.”
Half-the-Harbor Langdon raised his head to look at his son and said seriously, Many times, we can’t
afford to leave escape routes for ourselves. Only by burning our boats can we get a chance of survival
during desperate situations.” ”
“Dad, what do you mean? Have we reached this point?” Kayden asked in a panic.
Half-the-Harbor Langdon did not answer immediately. Instead, he took out a few documents from the
drawer and threw them in front of Kayden. He said, “Take a look at them. You’ll understand after
reading them.”
Kayden looked at the seemingly unremarkable documents and suddenly got a bad premonition.
After forcibly suppressing his anxiety, he picked up one of the documents and opened it.
“Florida Douglas Bank Bankruptcy Claim Form.
“Arizona Angel Bank Bankruptcy Claim Form.
“St. Aegis Bank of Maine Bankruptcy
Claim Form.”
They were countless bank bankruptcy
claim application forms splayed on the table, and Kayden’s brains were almost boiling as he read them.
“What the hell is going on? Did these
banks go bankrupt together at an agreed
time?”
Kayden was not a fool. It could be seen from the date of application that these banks, which had long
been insolvent were just forcing themselves through this. Then, they all filed for bankruptcy claims
immediately after Kayden and his father bought Layman Investment Bank.
He would not believe anyone who claimed that this was not a trap.
“You see it too.” Half-the-Harbor Langdon was speaking i
na monotonous voice. He continued, ”
I’m afraid that we have fallen into a well
designed trap.”
“The claim of these three banks alone is a
s high as 74 million US Dollars. Dad, if
this goes on, the insurance contract alone i
s enough to suck our blood dry, let alone
Layman’s!”
Kayden gritted his teeth and said, “It’s no
wonder that these punks insisted that we
provide insurance to small and medium –
sized banks. They even agreed to make
concessions on the price just for the sake o
f this. It turns out they wanted us to take
the fall for this.”
“It’s too late to say that now.”
Half-the-Harbor Langdon looked at
Kayden seriously and said, “I give you the
right to use those 20 billion Harbor
Dollars. You must pull Layman out of the
quagmire of the subprime market.”
Kayden said bitterly, “Dad, it’s not
enough. It might help if we have 20 billion
US Dollars, 20 billion Harbor Dollars
won’t do anything in the current market conditions.”
“Go find Jasper.”
Half-the-Harbor Langdon said suddenly. He gritted his teeth and continued, “Use the property rights of
all our industries in the mainland in exchange for him releasing all of Layman’s position contracts. If he
is willing, the 20 billion will be enough.”
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