The Chaebeol’s Youngest Son Chapter 287

[287]Pandemonium, pure family 3

These days, I almost go to work at the HW Group Chairman’s office. It was to check every day the funds being poured into Dubai, which would turn into a bomb and rain down on Vice Chairman Vibrator’s head.

“Dojun. Is this okay? “Isn’t the financial crisis originating in the U.S. weaker than we thought?”

Chairman Hakjae Lee threw away the morning newspaper.

“If the shock wave from the U.S. financial crisis is weak, it’s like putting wings on the shoulder of a vibrator. If there is no problem with liquidity, you can make a lot of money next year. “I will defend my current position even more firmly.”

When I opened the newspaper he threw, I thought my eyes would pop out.

How on earth do you know so little about what’s going on in the world?

Do the people who are said to lead Korean finance only have this much insight?

『Korea Development Bank is exploring the acquisition of Lehman Brothers, a major U.S. financial group.

Specific acquisition terms have already been proposed.

Proposed equity acquisition three times: $23, $18, and $6.4 per share.』

“Crazy guys. What are you going to do by taking over today and tomorrow with a respirator… .”

“Are you sure?”

“of course. Lehman Brothers does not even benefit from a bailout from the U.S. government. This place is truly beyond rescue. “I will soon be bankrupt.”

After Lehman Brothers went bankrupt, Nomura Securities, which aims to become a global investment bank, will only acquire Lehman Brothers’ Asian and European divisions.

The acquisition amount is only $2 for the European division and $225 million for the Asian division, subject to the transfer of all employees.

Nomura Securities, which has equity capital of 11 trillion won, could have invested that much of the acquisition amount generously because it viewed it as an opportunity to become a world-class investment bank.

Buying a company that can be acquired for only $2 for $23 per share means you’re either a fool or hiding something dirty.

The Korea Development Bank is not that stupid, so it is obvious what transactions are coming and going.

Korea Development Bank is a government-owned bank. It is obvious that if we take over Lehman Brothers, which is about to go bankrupt, we will incur huge losses, and those losses will ultimately have to be borne by the people’s taxes.

It’s none of my business if people’s tax money is being spent in the wrong place, but this is a very good opportunity.

“I need to hold a press conference.”

“what? Are you trying to block the Industrial Bank of Korea?”

“That’s an excuse, the real purpose is different. “It is a prophecy and warning that the U.S. financial crisis will turn into a tsunami and hit Korea.”

Chairman Hakjae Lee frowned.

“It’s not a warning; it’s an intention to explode a bomb in advance.”

“There are only a few days left. The moment Lehman goes bankrupt is a signal for the collapse of the world economy. “It makes no difference whether I post it or CNN News releases it, but I need to use this opportunity to increase my credibility.”

“Are you going to go into politics? “Where can we use the trust we build?”

“So that public opinion won’t take my side later when I expose the corruption in Sunyang Group’s succession process?”

“Anyway, one small head… .”

It’s a pointless scolding, as if he’s trying to hide his surprise at my plan.

“Hold a press conference in two days. A local apartment complex is currently in progress. Sunyang and Daehyun both have their feet in the mud, so I’ll push them in.”

I guessed it, but Chairman Hakjae Lee and I get along pretty well.

* * *

“The Bush administration is on the verge of investing hundreds of billions of dollars in public funds. More than 8 million homes were turned into ruins, and the entire United States was frozen as Bear Stearns was ruled unable to recover and its mortgage loans could not be recovered. “I assure you that Lehman Brothers cannot avoid bankruptcy.”

“Director Jin Do-jun. “The Lehman Brothers you mentioned is the same company that Korea Development Bank is currently negotiating an acquisition with, right?”

“That’s right. There is only one Lehman Brothers.”

“Can this be interpreted to mean that Korea Development Bank’s acquisition negotiations were flawed?”

“Even if it was wrong, it was wrong for a long time. No matter how much I think about it, I just can’t understand it. When a company goes bankrupt, its stock is worth zero. Paying $26 per share for a worthless asset? With that money, it would be better to buy rocks abandoned on the side of the road. “It’s more valuable because it can be a tool that you can throw with all your might when you’re angry.”

As the press conference progressed, I became increasingly angry, but I lowered my voice.

“Have you already forgotten what happened 10 years ago? As a result of the extravagant spending of dollars, the suffering was passed on to the people. The U.S. financial crisis has already cast a cloud over the global economy. “Spending dollars on a failing company when there are not enough preparations is tantamount to treason.”

“Are you by any chance comparing this financial crisis originating in the United States with the IMF?”

“It’s essentially the same. “The only difference is that the epicenter is the United States, not Asia.”

When the word IMF came out, reporters became excited. I knew that it was not the time to relax enough to cross the river and admire the scenery.

“Mr. Jin Do-jun, does this mean that a crisis like the IMF one will begin again?”

The IMF is also strong. It’s like a national trauma that can never be escaped.

“It will depend on how you respond. In particular, rigorous analysis of each institution is required. “You must never show any laxity.”

This is what young Korean Warren Buffett says.

Economic newspapers featured my face on the front page, JoongAng Newspapers featured my face on their economic pages, and sports newspapers, which were no different from entertainment magazines, also featured my face.

Broadcasting companies were no different.

They also know that the title of Young Genius Investor and Sunyang III is a sure card that guarantees viewership ratings.

Although it was not the first topic, my interview was covered with great importance.

So far, the conglomerates have never sent a warning to state agencies. He mostly only served in this role at universities or economic institutes.

Since it was a very rare event, I succeeded in attracting the public’s attention, and public opinion was favorable to me.

Korea Development Bank appeared to give up on acquiring Lehman Brothers in just one day. He took a step back, saying it was just a review and there were no specific plans.

I got the results I really wanted.

Economics professors at universities who had been keeping quiet opened their doors all at once, and many economic research institutes also published research papers warning of a bleak future.

Moreover, on September 14, 2008, the fact that Lehman Brothers filed for bankruptcy with an astronomical amount of 700 trillion won was made into urgent news through major foreign media outlets, and my name came up again.

Thanks to this, additional benefits were obtained.

“Chief. The press conference was truly divine. haha.”

Vice President Jang Do-hyung burst out in a happy laugh.

“Have you seen the press article?”

“A prophet?”

“yes. Investment genius, prophet… . Now, the manager is being given this nickname. And while social leaders always talk about a rosy future and only talk about money-saving things like buying stocks and houses, the director is the only person who talks about the crisis and tells people to close their wallets.”

“Praise is useless. “There must be something to gain.”

“A company with the most conscientious management. That is what Sunyang Financial Group has benefited from. Stock prices rise and customers flock. It had a greater effect than running hundreds of TV commercials. haha.”

The bankruptcy of Lehman Brothers also sent Korea’s financial market into a state of panic.

The combined market capitalization of the KOSPI and KOSDAQ markets evaporated 51 trillion won in one day, and stock prices in the securities industry plummeted by more than 12%, but Sunyang Securities was the only financial company that showed a miracle of rising stock prices.

Vice President Jang Do-hyeong smiled brightly but glanced at me secretly.

“Reporters want to do follow-up coverage. What do you think? Shall we schedule an interview?”

“no. If you say more, you will be exposed. That’s just the right amount. The public must remain curious so they will continue to listen to me. What about Korea Development Bank? “Have you followed my instructions?”

“yes. We treated the president and executives to a meal and also gave them some gifts. Enough so that I don’t get carried away with this.”

“Well done. Now we have to be on our guard. The dominoes of global economic downfall begin. Make every investment decision carefully.”

It is predicted that the unemployment rate in the United States will immediately increase by at least 10%, and Europe is no exception.

There was also an article that said the number of homes in real estate foreclosure in the U.S. has already exceeded 9 million. The U.S. domestic economy will completely freeze.

If the United States, the world’s largest consumer, freezes, China, known as the world’s factory, will also suffer a huge blow.

There are already signs that China’s manufacturing industry is collapsing. The number of unemployed exceeded 10 million.

These unemployed workers are workers who only earn $70 to $80 a month.

When upstream waterways are shaken like this, the poorest people always suffer the most in the end.

Engineers built computers and spaceships.

Financial engineers created the dream of becoming rich and in return received salaries dozens of times higher than those of engineers.

However, when a dream turns into a nightmare, the person who bought the dream is ruined. The person who sold his dream suffered no harm.

On October 4, financial technologists on Wall Street, the cause of this tragedy, held another wild party with George Bush’s $700 billion government subsidy.

The U.S. government purchased AIG Life Insurance’s shares for $160 billion, becoming its largest shareholder, and gave $15 billion to Goldman Sachs.

Morgan Stanley paid $14 billion in bonuses to executives as soon as it received government support, and Goldman Sachs divided the entire government money between executives in the name of bonuses.

Lastly, Rachel from Miracle in New York took a photo of an account with a huge number of $56 billion and sent an email. With just one line of message.

Congratulations! World’s Richest Person!

* * *

The United States, ahead of the presidential election, has already invested more than 7 trillion dollars to extinguish this financial crisis and was planning to invest more in the future.

Although its status as a reserve currency was shaken, the tsunami of crisis seemed to stop in Europe.

When it became clear that it was nothing more than a strong typhoon in Asia, everyone breathed a sigh of relief and revealed their hidden greed again.

As always happens when a crisis occurs, the rich get richer and the poor get poorer.

The new government implemented a large-scale tax cut policy and relaxed reconstruction regulations to overcome the economic slowdown and shrinking domestic demand.

Thanks to this, conglomerates began singing flower songs again.

“Maybe I ruined your plan. “If we continue like this, Sunyang Construction will only become rich.”

Chairman Hakjae Lee looked at the status board anxiously.

“It’s about taking out debt and doing credit transactions. If you don’t get the credit, it’s over. Don’t worry, just do whatever Sunyang Construction or Daehyun Construction wants. “If you want to build an apartment complex, put it up, and if you want to build a shopping center, build it.”

“Dubai is fine! “Didn’t you say that America would fall in crisis?”

“It’s festering. “It still needs time for it to rot and crumble.”

“The money we owe to the two companies alone is about to exceed 3 trillion won. “It might be 5 trillion next year.”

“With that money, Sunyang Group’s heavy industry division and Daehyun’s construction division may be purchased. “It’s cheap.”

I showed my composure to Chairman Lee Hak-jae, who was shaking with anxiety. We need to spend more and distribute more. Money is plentiful. I met with commercial bank presidents one after another to spend, or rather, deposit, money again.

As soon as they saw me, they bowed their heads as if they had met their savior.

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fantasy, modern,