In addition to Indymack Bank, five banks in the United States have gone bankrupt from December last year to this year.

Who is the next one?

There are rumors that Freddie and Fannie Mae, the two largest mortgage financing companies in the United States, have actually gone bankrupt due to insolvency.

Freddie Mac and Fannie Mac stock prices plummeted nearly 50% these days after IndyMac Bank closed.

According to media reports, Fannie Mae and Freddie Mae have written off $400.8 billion in capital due to the subprime mortgage crisis in the US real estate market.

Fannie Mae and Freddie Mae have problems with insolvency, and the government may eventually need to rescue.

Perhaps the next victim is Lehman Brothers, the fourth largest investment bank in the United States, which also focuses on mortgage securitization products as its main business. It is facing similar problems as Bear Stearns, which was acquired in March this year.

On May 14, Lehman Brothers' share price fell 24% in a week, hitting a new low in 2000. Since the beginning of this year, Lehman Brothers' share price has fallen 75%.

In fact, Washington and all economists understand one thing: Indymike Bank's blood cannot give birth to the US housing market relief bill because the White House hopes the government will rescue those greedy capitalists.

Perhaps what needs to be saved most is not Freddie or Fannie Mai, nor Lehman Brothers, but investors' confidence in the US economy.

When a crisis involves confidence, profit, value and liquidity are no longer worth much. If confidence collapses, disaster will inevitably come.

It was at this time that Andy Smith appeared at the headquarters of Indy Mac Federal Bank with a huge private team. In the evening, FDI officially announced that it would sell Indy Mac Bank to intime bank for $13.9 billion.

Yingtai Bank is a newly established bank created by Andy Smith...

The reason why FDI can't wait to announce it is that it needs good news to boost confidence. There are signs that the banking run under the panic that everyone thinks the banking industry has become unsafe, which has left Arkansas ABC Financial National Association Bank and Minnesota First Integrity Bank facing a crisis of bankruptcy.

The U.S. Savings Administration and FDI hope to use the news that Andy's acquisition of Indy Mack Federal Bank to dispel depositors' doubts and panic, so that people know that it is safe to put money in the bank, and that the covered depositors included in the insurance will not lose a penny of their covered deposits.

Of course, fdi will not interpret the details of the transaction agreement in detail to the outside world.

The acquisition news spread rapidly throughout the United States, and the results were very obvious. Bank stocks, which had been wailing all over the country, no longer continued to fall the day after the news was released, and the stock prices of some large bank institutions rose slightly.

Andy, who was slightly tired, asked questions from reporters and flashed in a circle of reporters and walked into the headquarters of Indymike Federal Bank again.

Last night, he, the big boss, did not act as a hand-off manager, but used his ability to remember everything and checked the information of Indymike Federal Bank.

Running a bank is extremely unfamiliar to him. Although he can find experienced professional managers to help him manage, he must do some things as he wants, because ignorance will be deceived and fooled, which is something he cannot accept.

The atmosphere of the meeting between the two sides was much more relaxed. Everyone chatted in the conference room for a few words. After Andy's huge think tank checked all the asset data, the two sides started the transaction.

A lot of work is done by his subordinates, and a person like Andy needs only signing and paying.

When Andy held a pen and signed his name smoothly on the agreement document with a beautiful badge, the executives who belonged to FDI and the bank all felt relieved and showed relief on their faces.

FDI people relax because they finally have a takeover man, while the bank management is happy because they welcome a Jindatui boss. The operation is difficult and turbulent, and the days that cannot see the future are finally over.

Papa

When the heads of the two parties exchanged documents and completed their last signature, warm applause rang out in the entire conference room, shaking hands with each other to celebrate, especially FDI and bank executives, some even hugged and celebrated.

To be honest, during this bank bankruptcy incident, the FDI department left a deep impression on both the internal and external people of the bank. Its work attitude is very serious and responsible, and its speed of doing things is also very fast. To be honest, I have to admire the fact that the financial system and emergency system of the United States are really perfect.

Andy was in such a state of excitement and excitement at this moment. Perhaps it was because of the less than 3 billion US dollars that he had lost the feeling of gains and losses of huge transactions.

However, he finally had a bank of good size, his own fund settlement center, and his own savings pool. In this way, as long as the continuous expansion and normalization of Yingtai Bank's operations are completed, he can use his huge financial backend to launch his largest merger and acquisition plan.

At the press conference, the heads of the US Reserve Administration and FDI spoke one after another, expressing their opinions on the conclusion of the transaction. To put it bluntly, they endorse each other.

After all, there are very few buyers who are capable or willing to acquire problem banks.

Andy looked at the press conference, and the group of media reporters staring at him with a bright look, and said calmly and calmly: "After experiencing a long-term prosperity, the banking industry is facing increasing pressure.

Banks and savings institutions are struggling to cope with the increasing number of non-performing loans, and it is clear that some lenders may be in trouble.

Although the number of bankrupt banks is not expected to exceed 834 between 1990 and 1992, it may take years for troubled financial institutions to resolve non-performing loans and supplement their capital shortages.

This tragic situation is inevitable, but it will also lead to a series of acquisitions that eliminate some of the worst-performing banks.

Depositors are becoming increasingly concerned about the bank's operating conditions. Many customers are now saying that they are nervous to transfer their money to a safe place.

So now, I can say to all our old and new customers very responsibly that the new intime bank will provide you with the safest guarantee!

Our new bank will still give higher interest rates than other banks and provide more intimate services, so that old customers who leave us because of concerns will come back, because our bank is more confident in experiencing this cold winter!

Starting tomorrow, IndyMac Federal Bank will be the main body, merged at the former Miami Valley Bank, the former Douglas National Bank of Missouri, and the former Hume Bank of Missouri, and officially renamed Yingtai Bank, with branches ranging from 33 to 82..."

Wow

There was an uproar at the scene. I thought the transaction of IndyMac Federal Bank was unexpected, but I didn't expect Andy Smith to quietly complete the merger and acquisition of four bankrupt banks and use it to form a large interstate bank. I have to admire the courage of this young man.
Chapter completed!