The unparalleled talent of the country started from Harbin Institute of Technology

"Let's talk in the study."

Wang Duoyu spoke up, and Wang Yifei immediately stood up and walked towards the study villa across the street.

Liu Xiaoli, who was holding her grandson, couldn't help but say:

"That's enough! We're all family, can't we talk in the living room? Why do we have to go to the study? Are you afraid we'll leak the information?"

To everyone's surprise, Bai Doufu stepped forward:
"Mom, please stop talking. There's a saying: 'Things are accomplished in secret.'"

"You talk too much!"

Liu Xiaoli rolled her eyes. "You can't get involved either, can you? And you're still speaking up for your dad and the others? Whose side are you really on?"

"Mom, I'm on the side of reason!" Bai Doufu said, "Mom, just focus on taking care of the kids and stop making a fuss about these things. You don't understand these things."

Wang Yifei ignored her mother completely and left. Wang Duoyu gave Bai Doufu a thumbs up and also went out.

Inside the study of the villa, Wang Duoyu said:

"Don't worry about what your mother says. We have a lot going on in our family right now, so we'll keep it from her if necessary. It's not that we don't want her to know, it's just that the time isn't right yet."

"Alright, let's not talk about that anymore. Now we have news from the United States that JPMorgan Chase is about to block the Raptor Fund's acquisition of Morgan Stanley. What do you think our Want Want Group should do?"

He was setting a test for Wang Yifei and her three siblings to answer.

The five of them, father and sons, chatted for a while, and after a brief discussion, they were so shocked that they didn't know what to say.

Wang Yifei, in particular, felt as if she were witnessing history.

Suddenly, she asked:

"Brother Big Fish, why don't you tell us how you made money during the 1987 stock market crash? I'd love to hear your stories."

The ongoing 2008 financial crisis has already earned Want Want Group's financial companies over three trillion US dollars in profits.

Although this money is not all in cash, most of it consists of assets such as gold, real estate, antiques, bonds, and stocks. For example, Bear Stearns alone is worth several tens of billions of dollars.

But that's three trillion dollars! Earning that much money is truly astonishing.

Furthermore, this valuation is based solely on the current value, not on previous values.

For example, Bear Stearns, an investment bank, had assets of at least $500 billion before it went bankrupt.

It was only because it was insolvent and had to go bankrupt that it was acquired by Maple Capital.

If the history Wang Yifei is witnessing is already so terrifying, then Want Want Group must have made a lot of money during the stock market crash of 1987.

Even though it's all in the past, she still wants to hear it.

"It's all in the past, let's not talk about it anymore," Wang Duoyu said. "Alright, let's go eat."

"Big Fish Bro, you're doing this again~" Wang Yifei pouted, dissatisfied.

She finally got a vacation and came home, so why can't her curiosity be satisfied?
Then, she received a glimpse of her father's back.

The next day arrived in the blink of an eye, and everyone either went to work or took a vacation.

Summer vacation passed quickly, and on the second day of September, September 2nd, the sky over Wall Street suddenly darkened.

A torrential downpour suddenly arrived, as if foreshadowing something.

Lehman Brothers CEO Richard Fuld and President Warren Anderson are in Washington, D.C., negotiating with Treasury Secretary Paulson.

The latter took a hard line, stating that it would not save Lehman Brothers.

Richard and his team have contacted Paulson and the Federal Reserve multiple times over the past two months, hoping they can help Lehman Brothers weather this crisis.

Unfortunately, due to issues such as profit distribution, the bankruptcy and collapse of Lehman Brothers was inevitable.

The old Anglo-Saxon white financial groups did not want Lehman Brothers to continue to exist, or rather, to continue to be controlled by Jews.

Taking advantage of the current subprime crisis, old financial groups have been believing that Lehman Brothers should be eliminated.

Goldman Sachs is still holding on, but whether they can pull through depends on their individual fates.

But Lehman Brothers was destined to go bankrupt anyway.

On September 7, 2008, it was reported that Jeremy Isaacs, the long-serving head of Lehman Brothers’ European and Asian operations, would be leaving his post at the end of the year.

In addition, Lehman Brothers' Chief Operating Officer for Europe and the Middle East, Bernoit Savarette, and Head of Fixed Income, Andrew Morton, will also step down.

Both reports foreshadowed something, while Lehman Brothers' stock price continued to fall.

Three days later, financial reports showed that Lehman Brothers lost more than $8 billion in the second quarter, the worst quarterly loss in its history.

At the same time, Richard Fuld decided to sell 55% of his asset management division and spin off $80 billion worth of struggling real estate assets to Sun Investment Corporation.

However, Lehman Brothers remained insolvent and unable to repay its debts.

Because at this time, Lehman Brothers' debt had soared to more than $800 billion, an increase of more than $200 billion compared to the original $600 billion.

It is indeed an extremely terrifying number.

Morgan Stanley and Goldman Sachs are also heavily indebted, with their combined debt certainly exceeding or matching that of Lehman Brothers.

Among the six major investment banks in the United States, Goldman Sachs and Morgan Stanley are the two largest giants. In particular, over 80% of Goldman Sachs' trillions of dollars in assets are mortgage-backed securities, real estate, and stocks, while cash and other assets account for a relatively small proportion.

We are now at the peak of the subprime crisis, nearing the point when the global financial crisis will erupt. Goldman Sachs' debt is definitely more than $800 billion higher than Lehman Brothers'.

If Goldman Sachs were to collapse, the resulting financial tsunami would be even more devastating.

However, Wang Duoyu will not let Goldman Sachs collapse; he only needs to let Lehman Brothers develop according to the original timeline.

Paulson represented the white Anglo-Saxons and their group, and would never bail out Lehman Brothers.

And even now, most people still believe that the subprime crisis is just a minor adjustment, and few people realize that it will trigger a very large financial tsunami.

"Professor, according to the intelligence we just gathered, the Federal Reserve has decided not to bail out Lehman Brothers, and the company is bound to go bankrupt!"

In New York, at the headquarters of Maple Tree Capital, Hela O'Brien was in her office having a video call with Wang Duoyu to communicate in real time.

Meanwhile, Zheng Baoyin, Wang Jianchao, Xue Lisheng, Lu Qingsong, Liang Shengzhi, Wei Ruolai, Qu Haiping, and others were also in video calls; to be precise, the senior executives were all having video conferences.

Recently, due to the financial crisis, Wang Duoyu has been spending half an hour to two hours almost every day paying attention to the US subprime mortgage crisis.

"Yes, as long as Lehman Brothers goes bankrupt, that will be enough. Only then will the financial crisis truly erupt!"

Wang Duoyu nodded. He didn't yet feel that much of a mission to stop the Americans from facing a crisis.

Even if he were to acquire Lehman Brothers now, it wouldn't make a difference, because investment banks like Morgan Stanley and Goldman Sachs are still there, and they are also heavily indebted.

We can't expect Want Want Group's financial company to use all its profits to cover these debts, can we?

Don't say that Wang Duoyu isn't America's master. Even if he were, look at how JPMorgan Chase and others have done things.

So he can't help the native Americans who are suffering in dire straits. After all, they live in a free country with clean air and sweet tap water, and they don't need Wang Duoyu to save them.

The meeting ended the following day, September 12th, local time in the United States, when U.S. Treasury Secretary Paulson announced before a press conference that the U.S. would not provide aid to Lehman Brothers.

The company's stock price plummeted another 15.6% that day, closing at $2.89, a new low in twenty years.

The last time a stock was valued this low was during the 1987 US stock market crash, when Lehman Brothers' stock price fell to $2.45.

Since 1987, Lehman Brothers' stock price has never fallen below three dollars.

But Paulson's words caused Lehman Brothers' stock price to plummet so dramatically.

Including the short selling by companies like Maple Tree Capital, Lehman Brothers' market value had now fallen by 96 percent compared to the beginning of last year.

The following day, as a last resort, Bank of America, representing the will of the Federal Reserve, rejected Lehman Brothers' acquisition offer.

At this point, the fate of Lehman Brothers was sealed.

Richard Fuld, Warren Anderson, and other Lehman Brothers executives all sat dejectedly in the company's rooftop conference room, their eyes bloodshot, clearly having not had a good night's sleep for several days.

Lehman Brothers was at a critical juncture; without support, it was destined to collapse.

The old white Anglo-Saxon financial tycoons just want to watch this Jewish conglomerate go bankrupt and refuse to help it!
"Gentlemen, let each of you accept your fate," Richard said, then got up and left the conference room, his back view appearing lonely, desolate, and forlorn.

Anderson remained silent.

In contrast, on the other side of New York, the Rockefeller family's drawing room was filled with many important figures.

"Clayton, long time no see. How have you been?"

David Rockefeller smiled and hugged Brighton Morgan on the cheek, a common greeting in Europe and America.

Their ancestors migrated from Great Britain to America hundreds of years ago and have since retained many of the etiquette and customs of the British aristocracy.

They even dreamed of becoming nobles like their ancestors, the kind of nobles that existed in Great Britain in the past.

However, their attempts to imitate others were not recognized by European royalty and nobility.

So now it's actually just two separate circles.

“I’m fine, David. You look great too! You’re ninety-three years old and still so energetic, it’s amazing.”

Clayton's face wore a sincere, but actually insincere, smile.

Who doesn't know that David Rockefeller survived to this day because he had a heart transplant?

This old fellow was born in 1915, so he's 93 years old this year.

The loess had already buried his nose, but in the original timeline, this guy didn't die until 2017.

After exchanging a few pleasantries, the two quickly sat down and began chatting.

In the year 2000, Chase Manhattan Bank and JP Morgan officially merged to form JPMorgan Chase & Co., integrating investment banking, commercial banking and asset management businesses.

After the merger, its assets reached $1.12 trillion, making it the second largest bank in the United States.

At that time, the largest and most diversified bank in the United States was Citigroup, which expanded rapidly through multiple mergers and acquisitions before the millennium, eventually becoming the top bank in the United States.

JPMorgan Chase is a giant corporation jointly owned by the Morgan and Rockefeller families, and is a pillar industry of these two families.

Amid the subprime crisis, David Rockefeller and Clayton Morgan sat down together to discuss how to deal with the situation and how to confront the Jewish groups.

In fact, Clayton had already discussed this with members of the Morgan family beforehand, and they all agreed that this was a very good opportunity to suppress the Jewish group.

Let Wall Street once again become the backyard of their white Anglo-Saxon old financial groups.

In the drawing room, David Rockefeller and Clayton quickly exchanged their opinions.

Both sides agreed to make Jewish groups like Goldman Sachs and Lehman Brothers take the blame, while the old Anglo-Saxon financial groups would take the opportunity to acquire more assets.

"Morgan Stanley is yours to take over, Merrill Lynch is ours, no problem, right?" David Rockefeller laughed.

Clayton nodded, indicating that there was no problem.

The two made a decision in just a few words.

However, it might not be so easy for them to swallow these two companies.

Because financial institutions such as Velociraptors Fund are eyeing the market covetously, and some have even already taken action.

It all comes down to individual ability!

The European consortium behind the Velociraptor Fund is certainly not to be underestimated; they have both money and power, and the real power behind them has always remained behind the scenes, effectively achieving a state of retirement!
On September 14, the International Swaps and Derivatives Association announced that it would allow investors to cancel credit derivatives associated with Lehman Brothers to avoid being caught in the huge vortex triggered by Lehman's bankruptcy.

At 1 a.m. the following day, Lehman Brothers was forced to announce that it had filed for bankruptcy protection under Proposition 11.

Lehman Brothers' bankruptcy surpassed that of Drexel Burnham Lambert in 1990, marking the largest investment bank bankruptcy in U.S. history.

However, there is a difference between filing for bankruptcy protection under Bill 11 and filing for bankruptcy directly.

The latter means that the company will immediately die completely without any room for maneuver, leaving only liquidation and closure as its only option.

However, filing for bankruptcy protection under Bill 11 means that the company can try to revive its business in the coming months, even if it's a last resort, and strive to become profitable again.

The world was in uproar after Lehman Brothers filed for bankruptcy.

Meanwhile, Barclays, the UK's third-largest bank, Nomura Holdings, Japan's largest securities firm, and EDF Trading, a subsidiary of the French power giant EDF, all rushed in, ready to divide up Lehman Brothers' assets.

However, they were all a step too late. A subsidiary of Want Want Group had already begun negotiations with Warren Anderson and others to acquire Lehman Brothers' Asia-Pacific business, Igor Locke Energy, Lehman Brothers' New York headquarters, two data centers, and other assets.

At this point, the once glorious and invincible Lehman Brothers was dismantled and completely transformed in less than three days.

At this point, Lehman Brothers had finally fallen to rock bottom and could never see the light of day again.

But the real challenges for the Want Want Group have only just begun!!! (End of Chapter)