The other six major chaebols in Japan were shocked by the sexual manipulations of Nozawa's group.
I went to Southeast Asia with a safety fund to speculate in stocks and made a lot of money, and then I seized this perfect opportunity to put the blame for those bad debts on Arthur Andersen, which suddenly gave life to these doomed financial institutions.
Now that Nozawa and his group have successfully rescued themselves, others can no longer let them declare bankruptcy on their own initiative. Therefore, the Ministry of Finance of Japan also began to cooperate with their performance and directly began to investigate the business of Andersen's Japanese branch.
Other players in Asia and Europe seemed to have been inspired by Japan. After seeing Japan's performance, they also began to investigate Arthur Andersen in their own territories, mainly checking Arthur Andersen's audit documents. At this time, no one dared to do anything. Arthur Andersen speaks, otherwise it will be easy for others to understand that he also has a share.
European players and Japan's stock market are in a bleak situation of "dark clouds are threatening to destroy the city". Many senior leeks also lament over and over again - now everything is falling! fall! fall!
At this time, all the Blue Star players looked at Yingjiang with something wrong.
The essence of Enron is actually that the company itself has low profitability. However, in order to raise the stock price and deceive Leechi into investing, it made a series of false accounts. This is not only the case for Enron, but also for many large companies in the United States. This is also the case for the group of geniuses on Wall Street. masterpiece.
Compared with other affected regions, the situation in the United States is even worse. A large number of banks, even time-honored names like Morgan Stanley and Citigroup, are no exception, because they also lent billions of dollars to giants such as Enron and WorldCom. Some state pension funds that had invested in the stocks of these companies were also cut off.
In less than a month, Enron fell from a price of more than 100 US dollars to 25 cents. Its market value of 80 billion US dollars is now less than 200 million US dollars. WorldCom has also shrunk by 90%. Both It directly declared bankruptcy, and some senior executives were sued to court by the U.S. Securities and Exchange Commission.
Well, as a scapegoat, it is estimated that this time it will be at least a hundred years old. . .
Arthur Andersen was fined $500,000 by the Houston District Court and banned from engaging in related business for five years, making it the first major accounting firm in the United States to be convicted.
When Andersen was formally convicted, more than 3,000 customers directly announced that they were leaving Arthur Andersen, and overseas branches around the world were punished by U.S. departments in order to avoid being punished.
Many partners who relied on this big tree for development have abandoned Arthur Andersen and joined other Big Four accounting firms, and a considerable number of branches have been canceled or acquired.
Arthur Andersen, a century-old store, was directly dismembered within a month, and the top five Blue Stars have since become the top four.
Andersen was found guilty and thrown into the street. This was a heavy blow to the United States, because Andersen had acted as an agent for the auditing of more than 2,300 listed companies in the United States, accounting for almost 17% of the total number of listed companies in the United States. , the impact of this is huge.
The past two months have been a critical blow to the U.S. stock market, but the subprime mortgage market has continued to become abnormally hot.
Because the leeks now find that except for those real estate contracts that they can't understand are still appreciating, other things in the financial market have no room for appreciation at all, but they know that house prices are still rising. This accelerated the expansion of the subprime mortgage bubble.
On September 26, just three days ago, New Century Financial Corporation, the second largest subprime mortgage lender in the United States, declared bankruptcy.
It can be said that New Century was completely affected by the black swan incident of Enron's false accounting scandal, because New Century is also one of Arthur Andersen's major customers. . .
This did not attract the attention of a group of financial groups, because New Century was completely dragged down by Arthur Andersen. All they had to do was to mobilize public opinion to make everyone think that New Century's bankruptcy had nothing to do with the real estate market.
In the past two months, New Century's stock price has continued to fall. According to relevant documents released by the U.S. Securities and Exchange Commission, New Century Financial Company must repay nearly 10 billion US dollars in debt within one month, so New Century directly announced If I don’t play anymore, it means I have no money, and everyone just wants to do whatever I want, so I just go bankrupt. . .
However, the collapse of New Century also sounded the alarm to a group of consortiums in the United States. They found that they seemed to have less time to make money from subprime mortgages.
Not to mention the big news in Malvern last year that can be recorded in the history of Blue Star, there were too many black swan events in 1999.
First, the prehistoric camp emerged and massacred all parties, leading to Gang Leader Qiao's suicide in despair, which in turn triggered the collapse of Nasdaq, causing the U.S. economy to begin to deteriorate again after it had just taken a breath and recovered some blood. For this reason, Wall Street had to harvest Southeast Asia in advance. In this way, a wave of blood fills the hole.
Unexpectedly, Soros collapsed in Southeast Asia and now committed suicide by taking a gun.
Southeast Asia hadn't been quiet for a month. The meddling Anonymous organization, who was so idle, directly exposed a series of insider information about Enron and Arthur Andersen, completely triggering a series of chain reactions. Several giant companies, led by Enron and WorldCom, rushed to the street.
Everyone looked at Yingjiang with a sense of distrust. Overseas funds began to withdraw in large sums, and New Century Financial Company was finished.
Now, even if it is said that real estate is the economic backbone of the United States, it is not wrong at all. Almost all the holes have been covered up by the hot real estate market. In addition, the United States continues to use the US dollar to suck blood from the world. At least it can survive for a while.
The reflection in the financial market is that the subprime mortgage market in the United States has become more popular. Basically, not many people in the United States have deposited money in banks. Those subprime mortgage contracts have been snapped up after the market appeared, and even formed In many underground trading markets, even syndicates have many orders for subprime mortgage contracts.
Only a small number of people discovered that the Federal Reserve Bank of America has started to raise interest rates, but the action has been very low-key. The news was covered up by other big news after it was announced. This situation is actually very abnormal. After all, the Federal Reserve Bank of America did not adjust interest rates that time. Everyone knew about the commotion, but this time it didn't cause any waves at all.
All of this has attracted the attention of a few people. Of course, in their opinion, they just feel something is wrong. It may be a sign that a group of predators is about to start harvesting, and the harvest period is about to come.
Various signs in the market do indicate this trend, but they don't know that this is just a small prelude that will eventually develop into the most serious economic crisis since the start of Blue Star Financial Trading.
This is because the time of the subprime mortgage crisis has been greatly advanced after Chen Yi superimposed many black swan events. Among the predatory plans that have been hiding behind the scenes and preparing to harvest, after there are not so many black swan events this year, it is estimated that only It can take about a year and a half to harvest.
One and a half years means that they desperately mobilize their own energy. Even if housing prices begin to fall, a series of financial products derived from subprime mortgages can still be popular.
But now, an embarrassing situation has arisen, because many smart people feel that something is wrong, so these oligarchs in the United States have something to do again.
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