Chapter 1806

LiangFang group is already heavily in debt at this time. Those like Leiman brothers who lost billions of dollars in a quarter are already very high. But compared with LiangFang group, they are really insignificant.

The loss of Fannie and Freddie in July exceeded 70 billion US dollars. In one month, there was such a high loss. The previous losses have not been included, otherwise it will be more terrifying.

At the beginning of July, the two companies raised $5.5 billion and $6 billion respectively by issuing additional shares in order to get through the difficulties.

As a result, not only did the difficulty not pass, but also the burden of the enterprise increased again.

Originally, the Federal Reserve wanted the dollar to appreciate, so that it could absorb reserves, let banks have more cash, reduce cash, and let banks have more money to operate.

LiangFang group also thinks so, so they borrowed a huge amount of money and invested it in the US dollar interest rate swap, hoping that through such operation, they can make a large amount of money and get through the difficulties.

But they never expected that the Federal Reserve would raise interest rates again, but there are still not many depositors. Frankly speaking, people don't believe that much about banks.

Then Feng Yu, Kirilenko and others are still taking the lead in selling the US dollar, keeping the US dollar down.

At this time, the banks in Europe also joined in, and they also saw the profits in it.

For example, Barclays, UBS, Royal Bank of Scotland, Deutsche Bank, Credit Suisse, Rabobank, etc., and even the American commercial banks such as Citigroup, Morgan delta bank, Bank of America, etc. have joined in.

In the eyes of those capitalists, only profits are real, and they are responsible for the survival of other enterprises.

With these big banks joining in, the exchange rate of the US dollar can't be pulled up at all. Feng Yu's main selling behavior of US dollar is also on the European side, through these commercial banks to carry out lending selling.

At that time, many of these banking giants were also speculating on crude oil. They believed that the decline of the US dollar would keep crude oil going higher, so it was in their best interest to follow the selling of the US dollar, not to mention that it would stimulate financial markets such as stocks.

As a result, the investment of LiangFang group lost money again, and the loss was very large.

In addition, during this period of time, insurance companies and financial companies continued to go bankrupt, which made the debt of LiangFang group continue to increase, the value of securities continue to decrease, and their loss gap is also growing, which is about to be covered.

At this time, the European commercial banks once again played a fierce game, that is, to raise the inter-bank interest rate, that is, the inter-bank interest rate between banks and other financial institutions.

This has led to a sharp rise in the interest rates of the two housing groups, making their losses even greater.

Of course, with the increase of inter-bank offered rate, Feng Yu's loss of selling US dollar is also increasing, but Feng Yu doesn't care.

This part of the loss can be earned back by investment in other markets, such as short selling investment in the US stock market, so that they can make up for these losses.

What's more, their most profitable investment is crude oil futures.

At this time, the crude oil futures are still falling. Feng Yu's short selling contracts can see profits rising almost every day.

The loss of a company is too big, so the natural stock price is falling rapidly.

Last year, the stock price of Fannie and Freddie was more than $60. It began to fall at the beginning of this year. At that time, Feng Yu also took the lead in short selling.

After the stock price was suppressed to about $20, the government axe of the United States began to inject capital, which increased a little. However, as the investment of Liangfang Group continued to lose money, their operating losses became more and more, and the overall market continued to fall, their stock price naturally fell all the way, and now it is only a little more than $1.

That is to say, the market value of the two companies has shrunk to 1 / 60 and their wealth has evaporated by more than 98%.

Similarly, Merrill Lynch and Leiman brothers, which have lost a lot of wealth, have all gone bankrupt, while Fannie and Freddie are still insisting, because they are Fannie and Freddie, the biggest sponsors of American political axe.

The huge losses of listed companies have a great impact on the stock price. If the stock price is less than one dollar for 30 consecutive trading days, they will be forced to withdraw from the market, which will be difficult to turn over.

At this time, they chose the same way as WorldCom, Enron and other companies at the beginning, that is to make false financial statements. Make up profits and hide losses so that investors don't lose all confidence in them.

A few years ago, LiangFang group also broke out the scandal of financial fraud, but at that time they lied about their profits, which can be accepted by investors, at least proving that the two companies are very profitable, just want to give less to these investors. In fact, the concealed profit is not the direct income, but the book income.

But this time it's different. This time it's a loss concealment. I don't want investors to withdraw their capital, or they'll be completely ruined.

So the giants of the two housing groups began to find people to make accounts, increase profits by 120 billion dollars, and conceal some losses, so that it would be much better in finance.

Let investors think that Fannie and Freddie are only temporarily in trouble, and will soon get out of trouble and give investors a high return again.Unfortunately, Feng Yu knew this in his previous life. After careful checking, he also found practical evidence.

Then it's easy. If the scandal is exposed, the share price of Fannie and Freddie is bound to fall again.

[will the history of Enron and WorldCom repeat when the two housing groups jointly conceal losses? ]

[Fannie and Freddie lied about their profits, and investors were cheated by them! ]

[Fannie and Freddie are on the verge of bankruptcy. Will the interest rate of housing loan rise sharply again? ]

[the bankruptcy of LiangFang group will set off a financial storm, and the economy of the United States will suffer the most! ]

many pieces of news were reported on the Internet, newspapers and TV, and quickly spread to the United States and the world.

For a while, the news even put the spotlight on the Chinese Olympic Games. According to the Olympic Games, the Olympic Games are the favorite of the media, but this time it's different.

Xiaobushi, who is being interviewed by the media, also told reporters with a smile that this time, the athletes of the United States will continue their past achievements, breaking a number of Olympic records, or even world records.

He is very fond of such and such athletes. He hopes to have dinner or something when they win.

But at this time, he went to see the people in his office waving at him behind the reporter, which is to show that something urgent happened.

Someone stopped the reporter and interrupted the interview. Xiaobushi went over and asked, "what's the matter?"

He looks unhappy. Today, a certain American athlete has broken the world record. It's rare that he can have a happy thing in this period of time. He's just happy.

"President ~ Mr. Tong, please have a look. There is a major scandal in the LiangFang group!"

……