One of Yahoo's most important executives voted under Feng Yiping, who had no room for action with him, which immediately made Masayoshi Son a little furious.

how so?

What he didn't know was that at this time there was a man on Wall Street almost shouting the same words as him.

New York, Manhattan.

At the intersection of Seventh Avenue and Forty-Ninth Street, there is a building that looks like a tower with a castle. Like Times Square not far from it, the exterior wall of this building also has a huge LCD screen. The screen scrolls on it and displays various beautiful and tall patterns. Of course, the one that appears the most is the green logo of Lehman Company.

Because, this building is the headquarters of Lehman Brothers.

At this time, in the spacious office on the first floor of the building, Lehman Brothers president Fulder was staring at the press conference on TV, listening to Paulson saying to the camera, "...The reason for this historic measure is that Fannie Mae and Freddie Mae are so large and have such close relationship with the financial system that any of them will lead to great turmoil in the United States and global financial markets..."

After Paulson, Lockhart of the Residential Credit Agency further added specific measures, "...the two companies account for eight hundred,...the repayment level of our capital injection, after the debt claims..."

Hearing this, he couldn't help but scold, "hrfk,"

The wine glass in his hand was heavily slapped on the table, "Why is this happening?"

Because the reason why the two houses are today is really unrelated to his company.

The reason why the two houses, which were not as famous as the five major investment banks on Wall Street, has made their mark in the subprime mortgage crisis is related to a research report on two houses released by Lehman on July 7 this year.

The arguments in that report were very pessimistic. They believed that there were two major problems with the two houses: one, the profits were falsely reported before; the other, now the huge losses were concealed.

Therefore, there is actually a huge funding gap between the two houses. The report and rigorous data have drawn the figure of the funding gap between the two houses: 75 billion US dollars!

This is an amazing number, especially when the data disclosed in their authoritative financial documents at the end of 2007, that is, the net capital of the two companies is more than 80 billion US dollars, which is even more a terrifying number.

It was from then on that, the two houses entered the public's sight and the eyes of many short-selling institutions...

It can be said that Lehman made an indelible contribution to the reason why the two houses fell to their current state.

To be honest, Lehman released the report at that time, and also had the purpose of refusing his attention to two houses. After Bear Stearn was acquired by Moxford at a low price, Lehman, who owns many mortgage assets, became the focus of everyone's attention.

But if he had foreseeed what happened today, Fulder vowed that he would send the employees who wrote the report to Africa to expand the market.

The federal government takes over the two houses, which has too much significance. One of them is that the US government has publicly admitted the credit problem of the mortgage market, and it has reached a point in being terminally ill.

So, how good can Lehman, who still has a large number of mortgage assets that cannot be processed?

What's even more fatal is that the specific plan announced by Paulson and others actually had only one meaning. The shareholders, that is, equity investors, almost lost all of them. You see, they only paid $1 billion to acquire shares of Fannie Mae 80, or preferred shares, which naturally means that the shares in the hands of the original shareholders have been greatly diluted.

One direct consequence of this is naturally that starting from today, not only will investors not buy stocks of financial companies, but investors holding stocks of financial companies will also desperately sell their stocks.

Because, who knows if the next financial company will have the same ending as two houses?

That is, financial companies, especially companies like Lehman Brothers that are heavily influenced by subprime mortgages, their stocks may also become waste paper that is worth little at all.

So why do you buy it? Why do you keep it?

The impact this press conference has on Lehman is not only that. Fuld knew that it will directly affect Lehman's other major plan.
Chapter completed!