My absurd experiences in North America over the years

The two had spoken on the phone many times, but this was their first time meeting in person.

Jackson stood up from behind his desk, walked around it, and shook hands with Li Fu, exchanging pleasantries.

"Mr. Li, it's our first meeting. I didn't expect you to be even younger and more handsome than in the photos," he said, patting Li Fu on the shoulder.

"Mr. Jackson, you're too kind. You're much more approachable and charming than I imagined a banker to be."

The two sides immediately began exchanging compliments upon meeting.

Jackson smiled and gestured with his chin towards the sofa area.

The two sat facing each other. The secretary brought in two cups of coffee, then left, the door closing silently behind her.

In a relatively private space, the two discussed public matters, such as the Trump Organization's progress in resuming municipal projects and the upcoming economic situation.

It wasn't until fifteen minutes later that the two got down to business.

Li Fu wanted to apply for a $5 million bridge loan from JPMorgan Chase's private banking division to cover the funding gap in acquiring a stake in Huawei's terminal business.

They had communicated before.

Given Li Fu's current reputation and his role as the de facto operator of Forrest Capital, he would have no problem borrowing this money from any bank.

He has ample assets that can be pledged.

The reason for choosing JPMorgan Chase is naturally because they have many business dealings intertwined.

The platform chosen for the foreign exchange account, the company's fund storage business, the equity in Huawei's terminal business, and by sheer chance, all became major creditors of Forum Media Group.

Or rather, the two largest creditors.

This "bondage" made Li Fu and JPMorgan Chase's private banking division tacitly "allies".

Jackson pulled a document from a drawer under the coffee table and pushed it in front of Li Fu. "This is a bridge loan plan that our private banking division has prepared for Forrest Capital."

Li Fu took the document and glanced at it.

It was a $500 million interest-free loan, with the collateral being any equivalent equity currently held by Forrest Capital. The difficulty of liquidating the collateral in the future and whether it would depreciate were not taken into consideration.

This back door seems far too obvious.

He couldn't help but look up at Jackson. "Why is it an interest-free loan? What are the conditions?"

No collateral or third-party guarantee is required.

Is it possible that free services are actually the most expensive?

Li Fu couldn't help but think of this; five hundred million US dollars was a huge sum of money!

“Of course,” Jackson nodded frankly. “The only requirement is that after the funds are received, Forrest Capital must maintain a deposit balance of at least $300 million in JPMorgan Chase’s private banking division over the next three years.”

Banks need sufficient deposits, and executives' performance should meet certain hard requirements. Forrest Capital is clearly a major client among major clients and the first choice to meet these requirements.

Li Fu tapped his fingers lightly twice on the sofa armrest; this condition was not too demanding overall.

He will indeed need to maintain a certain cash flow in the future. Three hundred million is not a huge amount, but then again, capitalists never do charity. Such a simple request, without interest, must mean there is something more expensive behind it.

"Mr. Jackson, is this really your only request?"

Or is this requirement actually a pretext?

A $500 million loan with no interest—they need a reason to explain this to the shareholders, right?

Jackson put down his coffee cup and leaned back on the sofa. Only then did he regain his banker's demeanor, his gray-blue eyes revealing the courage of someone who had spent most of his life navigating the brutal financial markets.

"To be honest, I actually want an opportunity. An opportunity to co-invest in the next big project with Forrest Capital, like the acquisition of Huawei's terminal business at the end of last year, a project that could change the industry landscape," he said frankly, making no attempt to hide his admiration and greed.

This requirement cannot be written into the contract, which is why he said earlier that the deposit was the only requirement.

He is now the second-in-command of JPMorgan Chase's private banking division. His boss is retiring in the next two years, and if he wants to take over the private banking division securely, he needs to have a stellar track record.

The young man in front of him is undoubtedly the best partner. He has witnessed the journey from six million to billions, and now to extensive investments.

Li Fu leaned back on the sofa and fell into a brief silence.

With a $500 million interest-free loan and a three-year term, JPMorgan Chase will lose at least tens of millions of dollars in interest income at current market rates.

This amount of money is not small, no matter where it is placed.

Jackson was gambling that his next high-value project would yield returns far exceeding interest.

He didn't know whether he should agree or not.

Frankly speaking, JPMorgan Chase is a relatively ideal partner, with enough influence on Wall Street. Continuing to be "deeply integrated" with it would undoubtedly be a powerful "moat."

However, he also feared the greed of capitalists.

What if the other party is planning to take advantage of you and then leave you for good?

"If you feel this plan is not suitable, we have Plan B," Jackson said, pulling another document from under the coffee table and pushing it towards him when he saw that Jackson had not answered for a long time. "This $500 million can also be used to invest in Forrest Capital. We can discuss the shareholding ratio in detail."

This is undoubtedly a bolder move.

Li Fu's brow twitched suddenly, and he instinctively refused, "The equity structure of Forrest Capital is not something I can decide alone. I cannot give you an answer to this proposal right now."

"I understand," Jackson said, knowing it was a polite refusal, but he didn't insist. "What about the first option?"

Li Fu thought about it carefully for a moment, then looked into Jackson's eyes and replied, "I can accept this plan, but there is one condition: JPMorgan Chase does not have a preemptive right to subscribe to Forrest Capital's investment projects... I can only promise that, under the same conditions, you will definitely be my first choice."

Jackson paused for a moment, then held out his hand. "Deal."

……

When I left JPMorgan Chase headquarters, it was already completely dark in Manhattan; New York winters have very short days.

Li Fu got into the car, took out his phone, found Cole's number, but hesitated for a moment, didn't dial, stared at the screen for a few seconds, and then silently put it back in his pocket.

The car entered the traffic of Manhattan.

The neon lights cast long trails of light on the car window, red, blue, and purple, overlapping like an abstract painting soaked in water.

Li Fu leaned back in his chair and closed his eyes.

The $500 million interest-free loan solved the funding gap for the Huawei project. Jackson wanted to continue the "deep integration." He agreed because he also needed JPMorgan Chase as leverage.

The Kushner family has temporarily laid low, and Goldman Sachs is busy with other businesses, but that doesn't mean these two enemies don't exist.

Most importantly, with the Obama administration taking office, the Forrest family's influence in Congress has significantly declined, and they definitely need a sizable ally.

JPMorgan Chase wants sufficient "profits," so it needs to take advantage of a powerful patron.

He knew he only had a year to prepare, after which a massive anti-China wave would erupt, a fact that the enemy would certainly exploit.