Chapter 363: The gentlest revenge

As the news of the 15 billion dollars in non-performing assets of the Greatwood Bank was made public, the entire US financial community was in an uproar. You have to understand that that is 15 billion dollars! The Greatwood Bank is not a giant bank like Morgan or Citibank. As an ordinary large bank in the central region, the total amount of these assets already accounts for 5% of the Greatwood Bank's total assets.

Generally speaking, it is already very scary for a commercial bank to have non-performing assets that exceed two percent of the bank's total assets, because non-performing assets are already considered to be losses in the banking system and are almost worthless junk, or it would be more direct to do so through loans.

Loans are one of the most important profit-making tools for commercial banks, and it is impossible for loans to lend out all of the bank's total assets. According to this calculation, the loan ratio of these 15 billion non-performing assets is fiction, would already be over 10. In other words, one in every ten loans made by Daewood Bank would be a total loss, including principal and interest. How could such an investment bank guarantee profitability?

So On the afternoon of the day when the 15 billion in non-performing assets were made public, a consortium announced that it was withdrawing its investment from Daewoo Bank.

Affected by this news, Daewoo Bank's stock price plummeted by two percentage points in the last half hour of trading that afternoon. This may not sound like a big drop, but anyone with a discerning eye could see that if Daewood Bank cannot bring good news of sufficient magnitude to Daewood Bank in the 17 hours between the close of trading and the opening of trading the next day, then it is certain that it will face an even greater decline the next day.

But what news can actually eliminate the negative impact of these 15 billion in non-performing assets? I'm afraid even the Morgan family could not think of a solution.

The Daewoo D. family had not yet come up with a countermeasure, Zhou Ming's other arrangement also began. Also that morning, a group of representatives from the legal teams of 150 different companies in San Francisco, filed a lawsuit with the San Francisco District Court against Republic Insurance Company and Hanson Trust Company for insider trading.

So outside the courthouse, the San Francisco business lawyers' team spoke to the numerous reporters: 'Rogue companies like Liberty Insurance and Hanson Trust must be prosecuted because they undermine the fairness of the transaction and are a blasphemy against the law. In the pursuit of justice, we must make such companies pay the price they deserve for their actions!'

The said loudly, and finally waved his fist. He paused and continued, 'Our legal team is very confident in this lawsuit because we have already obtained the most crucial evidence in the case the most crucial evidence in the case, which is sufficient to prove that the Ruibo Insurance Company and Hansen Trust Company are guilty. However, due to the confidentiality of the evidence, we do not intend to make it public before the judicial investigation.'

Also with the prosecution of the case, investigators from the State of Michigan had to come knocking on the door. They took the managers of Liberty Insurance and Hanson Trust and investigated them for insider trading.

In fact, this was was a reaction by the state of Michigan to the public outcry, but the fact that it reached the media made it an even bigger story.

That evening, Chicago's top news programme devoted a special programme to the situation.

In the programme the TV station's dedicated commentator bluntly said: 'Perhaps the Dawood family is a special presence in Itely, but the FBI is directly under the Federal Department of Justice and is loyal to the law. Therefore, from the FBI's actions, it can be seen that Prudential that the Rube Insurance Company and the Hanson Trust Company are guilty of wrongdoing, so perhaps the lawsuits they face will include not only the class action lawsuit in San Francisco, but also a public prosecution by the Michigan State Attorney General's Office.'

As he spoke opened his notebook and continued: 'The shareholders of Liberty Mutual Insurance Company and Hanson Trust Company are the Greatwood Bank, so it is not difficult to guess that this is a left hook from the Down family. The Greatwood family did not have much protection against this heavy . I think they will have to pay a very painful price for their negligence or arrogance. I don't think the price will be just the front teeth.'

Watching the programme on watching the programme on TV, Tang Ran excitedly said on the phone: 'This is really the best news ever! Ming, I never thought that even the forces of Michigan would cooperate with us, not to mention the investors in the stock market and the media in New York and Chicago, they are all on our side!'

As things developing, Ming Zhou let out a sigh of relief himself. He and Ran Tang joked, 'So you can see that the goddess of fortune is fair. She favoured the Da Wud family for so long, but it was finally our turn.'

Ran Tang had her own opinion: 'In my opinion, the goddess of fortune is looking at the Wood family and thinking, 'They're really not cut out for this!

Zhou Ming scratched head, as if it really was the case. Previously, the alliance between the Daewood family and the Morgan family had almost exhausted all resources, and not only were their every move under their watchful eye, but even their thoughts are beyond their calculation. They can know the first thing about whatever happens to us. This situation can be said to be at a disadvantage, but now this situation is obviously going to turn around. No wonder Tang Ran despises them.

However, Zhou Ming but pretended to be angry and said, 'Ran, if you say that, I won't be happy. Why are they in the mud? It's obvious that we're the ones who have done well, isn't it?'

After Zhou Ming remarks, Tang Ran suddenly came to her senses: 'You're right, Ming is just too clever. No matter how much advantage the Greatwood family has expanded, they will never be Ming's match!'

Zhou Ming laughed and scolded Tang Ran for being a brown noser, and then said, 'Yes, Ran Ran, Muqing, the Morgan family and the Daewood family have not fallen out yet, they are still allies. Now that we are taking such revenge against the Daewood family's revenge, the Morgans may not react immediately, but by the day after tomorrow, they will definitely react and help the Daewood family against us.'

Lin Muqing nodded and nodded, saying, 'That's true. Zhou Ming, are you saying that we should ignore him and pretend to be tacit allies with the Morgan family, targeting only the Daewood family?'

Zhou Ming shook his head and shook his head. 'If we do that, it'll look like we're trying to hide something. I think we should find a better way.'

That night, George returned to his study very tired. He dialed the number of Jack Morgan, the head of the Morgan family.

The phone was connected, and Jack's voice came through the phone: 'Dear George, I feel very sorry for what the Greatwood family has suffered. I never expected their revenge to come so quickly and so fiercely. It seems that they have lost their minds.'

'If really lost their minds, that would be a very happy thing, because then I could really get hold of their balls!' George said viciously, and then added, 'But apparently their sanity is greater than we had expected. At least the situation is very troubling right now.'

George said and said, 'But Jack, I didn't call you specifically to discuss the impulsiveness of the Down family.'

Jack said said, 'Dear George, please be assured that I understand my responsibilities. It's just that today's events happened so quickly that I wasn't prepared at all. However, starting tomorrow, the Morgan family will stand shoulder to shoulder with the Bigwood family!'

'I'd like to believe you, Mr Jack,' George said.

So on the the following day, Kelvin Risk Capital Management, a company wholly owned by the Morgan Trust, announced that it would spend 15 billion US dollars to buy all the non-performing assets of Daewood Bank in a package deal.

This piece of news has undoubtedly given Daewoo Bank a much-needed lifeline. Anyone with half a brain knows that the so-called non-performing assets of a bank are in fact assets that are basically impossible to cash in on, which is why banks generally sell them in packages at very low prices.

Of course, sometimes, some companies that specialize in handling non-performing assets will artificially raise the price in order to acquire them first, but no matter what, they will never be able to acquire them at the original price, because it is simply impossible to redeem them.

However, regarding this transaction, no one said that the Morgans had lost out, because it was obvious to anyone with half an eye that this was a sign of the Morgans' support for the Wood family behind the scenes.

In addition to giving money to the Daewoo family to stay alive, the investment banks controlled by the Morgan family also joined Daewoo Bank in selling the shares of the Tang Dynasty Bank and vigorously suppressing some companies controlled by Tang Dynasty Bank, which caused the stock price of Tang Dynasty Bank to continue plummeting.

Originally, the Securities and Exchange Commission had decided to temporarily resume trading in Tong Bank at 1 pm, but the stock price plummeted again half an hour later, this time reaching a terrifying high of 8. As a result, the US Securities and Exchange Commission had to once again suspend trading in Tong Bank's stock.

'Damn Morgan family, I never thought they would actually get involved. Not only did they give us money, they also went out of their way to target us. It's so annoying!' Tang Ran said angrily on the phone said Tang Ran angrily on the phone, 'If it wasn't for you, Ming, telling me not to act rashly, I would have wanted to get even with them too!'

'If Ran really wants to get back at the Morgans, then go ahead. I didn't mean for you to get angry when I said not to act rashly,' Zhou Ming said with a smile.

Tang Ran heard Zhou Ming said, she hurriedly shook her head and said, 'How can that be? Ming, I'm just a little angry, but I don't really want to take revenge on the Morgans that much. After all, we're already struggling with the Wood family, and if we add the Morgans...'

Zhou Ming interrupted Tang Ran, Zhou Ming interrupted and said, 'I'm not saying that we should force the Morgan family to go against us. What I mean is that we want to take revenge on the Morgan family, but not in the same way as we dealt with the Daewood family, an eye for an eye and a tooth for a tooth. Instead, we want to use a gentler approach.'

'Ming brother I'm confused by what you're saying. Isn't it just about revenge? How can there be a gentle way?' Tang Ran asked curiously.

Lin Muqing, who was standing next to her, however, responded, 'Zhou Ming, are you saying that we should avoid the important things and focus on the less important ones when dealing with the Morgans? Although we want to get revenge on them, but it's not about dealing with the important things, it's about picking insignificant things to get revenge on, or just making a lot of noise but not doing anything. It looks like we're getting revenge on the Morgans with a lot of noise, but in reality we're not doing any damage to them. family's retaliation seems to be loud and strong, but in reality it has not caused them any harm. Is that so?'

'Yes, that's how gentle we are with Morgan!' Zhou Ming said.