An internal employee of Lehman sighed: "The American media has been stationed here for 3 days, and we have to wait and see how Lehman falls."

In a nearby cafe, many of the employees of Lehman Brothers are drinking coffee here, and some people come out to smoke and discuss the future of their company.

At the same time, Wall Street, during lunch breaks and afternoon after get off work, employees wearing tie, formal attire or shirts were invited to a restaurant or discuss on site.

The reporter next to him was holding paper and pen and making records quickly. American business newspapers have recently opened multiple pages to report on the company every day.

There were also many people calling on their phones, "It's all over", and an employee who had just walked out of the building said while walking.

Another employee was wandering around the corner of the building, "relax, relax, nothing happened." He still looked serious, "Have you relaxed?"

Now that Lehman Brothers' stock price has fallen to around $3, 24,000 Lehman employees have lost about $10 billion in paper wealth.

If Lehman cannot quickly stabilize investor confidence, his stock price will further sink.

The risk of Lehman Brothers' bankruptcy is getting greater and greater, making Wall Street more and more panic!

Because the Lehman crisis hit not only the company itself, it caused huge panic to the entire Wall Street.

Some people compare Lehman with the already bankrupt Bear Stearn, but if Lehman really cannot continue to survive independently, the impact will be far greater than Bear Stearn.

Lehman is four or five times the size of Bear Stearns, and many New York financial figures believe it is a company that is very close to Goldman Sachs in terms of efficiency and management.

At the same time, Lehman plays an important role in many markets, and Lehman's safety is related to the safety of these markets.

For example, Lehman is the largest underwriter in the US mortgage securities market.

Most of the securities of this type currently traded on the market are issued by Lehman, with more than US$600 billion.

If Lehman suddenly goes bankrupt, it will bring huge uncertainty to the prospects of the mortgage market.

The U.S. government announced last Sunday that it would take over mortgage giants Fannie Mae and Freddie Mae, and decided to buy two-bedroom mortgage securities to support the housing market and save the U.S. economy.

The Lehman crisis has added to the injustice of the fragile mortgage market and the U.S. housing market.

If the company goes bankrupt and clears its remaining mortgage-related assets, it is likely that the U.S. government's measures to rescue two houses will be ineffective.

On the evening of the 13th, traders from financial companies gathered in restaurants of all sizes on Manhattan Island to discuss the current market situation and Lehman issues, and exchange information with each other.

A hedge fund person who has worked on Wall Street for nearly 20 years told our reporter that night: "This is the most panicking moment I have seen on Wall Street in nearly 20 years."

This was the toughest week for Lehman Brothers!

In recent months, rumors about Lehman have been flying all over the world, but no deal has finally come true to save the precarious company, and investors have gradually lost patience.

Just recently, on the 11th, before the morning market opened, analysts from Goldman Sachs, Merrill Lynch and Citigroup respectively lowered their evaluations of Lehman, who were worried that the evaluation company would lower the evaluations.

Merrill Lynch analysts adjusted Lehman's rating from "neutral" to "no comments", leaving Wall Street speechless, and traders slammed "What does the hell 'no comments' mean?"

The reduction of the three companies is a step further for Lehman Brothers' stock price.

Previously, when news of the breakdown of the negotiations between South Korean Industrial Bank and Lehman's shares reached the market, Lehman's stock price plummeted by more than 45% that day, the decline created a historical record of the company's single-day decline.

Lehman then urgently announced that he would release the third quarter financial report and a series of self-rescue plans in advance the next day. This was a week ahead of the original planned financial report time.

Previously, Lehman said it had carried out an asset write-down of up to $7.8 billion, causing the company to lose $3.9 billion in the third quarter, far exceeding previous expectations.

This data also set a new record of loss in 158 years.

Lehman also announced his self-rescue measures: a large number of assets with poor liquidity such as mortgage loans, commercial real estate, etc.

In 2009, commercial real estate assets were divested from the company and placed into another new company.

And will sell most of its shares in its asset management department.

On this day, Lehman fell sharply again, and the market was dissatisfied with the fact that it had not yet reached a specific financing plan.

Credit rating agency Moody's warned that it could downgrade Lehman's credit rating unless Lehman can quickly find a buyer. Previously, another rating agency, S&P, also included Lehman on the monitoring list for possible downgrades.

Who will be the buyer?

Traders say Lehman is overconfident about the situation of his company.

In addition to Korean investors, they also contacted CITIC Securities and several major private equity funds in the United States, but these investors eventually left because Lehman's quotes were too high.

During the trading session on the 11th, information came from the market that Goldman Sachs would acquire Lehman. Some traders believe that only Goldman Sachs in the current market can understand Lehman's account book and have the ability to acquire it.

But these two companies, which were originally founded by Jews, had a gentleman agreement and did not attack each other. "If Goldman Sachs bought Lehman, it would be equivalent to kill Lehman.

Unless Lehman takes the initiative to say, you can save me, Goldman Sachs will not be able to take action,” said a Wall Street person.

Lehman Brothers internal employees said that if Lehman does not find a buyer within 24-48 hours, the company is likely to go bankrupt.

Before the market closed that day, people began to count one by one, and who still has the possibility of taking action.

****The acquisition of Bear Stearns is still being digested.

Options such as Deutsche Bank and HSBC have also been gradually eliminated.

As the day approached the closing, it was reported that Bank of America would finally take action!

But a head of Bank of America said that after the company acquired the mortgage lender trywide, financial, the latter's account was only 80%.

Lehman's $600 billion balance sheet must be extremely cautious for any company.

Asian time, September 15th, 5 a.m.

Wall Street Journal: UK's Barclays Bank of America has successively abandoned Lehman Brothers, and Lehman Brothers is facing bankruptcy

As Bank of America and Barclays in the UK successively gave up acquisition negotiations on the 14th, Lehman Brothers, the fourth largest investment bank in the United States, will face bankruptcy.

Starting from the evening of the 12th, U.S. government officials and banking giants held an emergency meeting to discuss the future of Lehman Brothers and try to restore market confidence.

As the US government refused to provide guarantees for the acquisition, potential acquirers including Bank of America and Barclays successively withdraw from negotiations on the 14th, and Lehman Brothers, with a history of 158 years, face bankruptcy.

According to the online version of the Wall Street Journal, Bank of America is negotiating a merger with Merrill Lynch after giving up the acquisition of Lehman Brothers.

Industry insiders pointed out that if Lehman Brothers goes bankrupt, Merrill Lynch may become the next victim.

This news has brought great panic to the market again.

As for Dafu Securities, Lin Yongfu looked at the news with a pale face. If Lehman Brothers goes bankrupt, Dafu Securities will suffer huge losses this time.

Previously, Dafu Securities spent HK$2.5 billion to buy Lehman Brothers' shares, with an average purchase position of US$7.00 per share, and 46 million shares!

Now Dafu Securities Company has lost US$184 million on the books, which is HK$1.426 billion. Lin Yongfu has become very scared and afraid!

Dafu Securities Company borrowed 40 million shares to short Lehman Brothers for Blackshirt Investment Bank. If you want to close the position, Blackshirt Investment Bank had to close the position first and return the 40 million shares to Dafu Securities Company!

Thinking of this, Lin Yongfu hurriedly called Wu Zhanhai from the Black Shirt Investment Bank.

Wu Zhanhai also happened to wake up very early, went to the bathroom, then answered the phone and asked, "What's wrong with Mr. Lin?"

Lin Yongfu said on the phone: "Mr. Wu, I hope you will close the short orders of Lehman Brothers, so that the settlement price is easy to negotiate."

Wu Zhanhai smiled and said, "It's impossible. We won't close the position. Mr. Lin, this is nothing to be discussed. After we close the position, Lehman Brothers' stock will be automatically returned to you. Don't worry."

"Okay, I still have some rest"

The boss told him before that there was no way to negotiate!

Before, Indians also wanted to negotiate, but were directly rejected.

After the call, Lin Yongfu's face turned extremely gloomy and cold sweat broke out on his back!

No one wants Lehman Brothers this time. If it goes bankrupt, then Dafu Securities will be absolutely finished.

Thinking of the stock of Dafu Securities Company being shorted by the Blackshirt Insurance Company.
Chapter completed!