Including Indy Mike Bank, five US banks have closed down from December last year to this year.

who is the next?

There are rumors that Freddie Mac and Fannie Mae, the two largest US home loan financing companies, have actually gone bankrupt because of insolvency.

In the days that Indy Mike Bank closed, Freddie Mac and Fannie Mae stock prices have plummeted by nearly 50%.

According to media reports, Fannie Mae and Freddie Mac have written off $ 408 billion in capital due to the subprime mortgage crisis in the US real estate market.

Fannie Mae and Freddie Mac have insolvency problems, and may eventually need government help.

Also likely to be the next victim is Lehman Brothers, the fourth-largest investment bank in the United States, which also specializes in mortgage securitization products. It is facing similar problems to Bear Stearns, which was acquired in March this year.

On May 14th, Lehman Brothers' share price fell 24% in a week, hitting its lowest price since 2000. Since this year, Lehman Brothers' share price has fallen by 75%.

In fact, Washington and all economists understand the truth that the blood of Indy Mack Bank cannot catalyze the US housing market rescue bill because the White House wants the government to rescue greedy capitalists.

Perhaps it is not Freddie Mac or Fannie Mace or Lehman Brothers that needs to be rescued most, but investor confidence in the US economy.

When the crisis involves confidence, profit, value, and liquidity are no longer of much value. If confidence collapses, disaster will inevitably follow.

It was at this time that Andy Smith and his huge private team appeared at the headquarters of Indy Mike Federal Bank. In the evening, fdi officially announced that it would sell Indy Bank to Intimebank for $ 13.9 billion.

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

The reason that fdi can't wait for the public announcement is that it needs good news to boost confidence. There are signs that the banking industry has become unsafe, and the run-up under panic has made the Anb Financial National Association Bank of Arkansas Both Minnesota and First Integrity Bank are facing a crisis of bankruptcy.

The US Savings Administration and fdi hope to use the news of Andy's acquisition of Indy Mike Commonwealth Bank to dispel doubts and panic among savers and let people know that it is still safe to put money in the bank, and the insurance depositors are protected. You won't lose a penny of deposit.

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

The news of the acquisition spread quickly throughout the United States, and the results were also very obvious. Bank stocks, which have been mourning all over the world, no longer continued to fall on the second day of the news, and the stock prices of some large banking institutions rose slightly.

The slightly exhausted Andy walked into the headquarters of Indy Mike Federal Bank again with his own think tank in a reporter's containment question and a flash of light.

Last night, his big boss didn't make a shopkeeper, but used his unforgettable ability to check the information of Indy Mike Federal Bank.

Running a bank is extremely strange to him. Although he can find an experienced professional manager to take care of him, there are certain things he must do well, because ignorance will be blinded and fooled, which is unacceptable to him. .

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

A lot of the work is done by his staff, and a principal like Andy needs nothing more than a signature to pay.

When Andy smoothly signed his name on the agreement document with the beautiful badge, the group of executives who belonged to fdi and the bank were all relieved, and their faces were relieved.

The people at fdi are relaxed because they finally have a takeover man, and the management of the bank is happy because they have welcomed a boss of tui king da tui. The operation is difficult and turbulent, and the future cannot be seen.

Slap

When the responsible persons of the two parties exchanged documents and completed their last signature, there was a warm applause in the entire conference room, shaking hands to celebrate each other, especially the senior executives of FDI and the bank, some even embraced and celebrated.

To be honest, in this bank failure incident, the fdi department has left a deep impression on both the bank and the outside world. It has a very serious working attitude and is very responsible. It is also very fast. To be honest, this has to Admiring the country's financial system and emergency response system is really relatively complete.

Andy's mood at this moment cannot be said to be so excited and excited, perhaps because of less than 3 billion US dollars of expenditure, so that he does not have the sense of gain and loss of such a huge transaction.

However, he finally has a good-sized bank, his own fund settlement center, and his own savings pool. In this way, as long as the continuous expansion of Yingtai Bank and the normalization of operations are completed, he can use himself Huge funds backstage, launched his largest merger and acquisition plan.

At the press conference, the heads of the US Federal Reserve Administration and fdi successively spoke, expressing their own opinions on the conclusion of this transaction, and to put it plainly, they endorsed each of them.

After all, very few buyers currently have the strength or willingness to acquire problem banks.

Andy looked at the press conference. The group of audiences stared at their media reporters with a calm expression, saying calmly: "After experiencing a long period of prosperity, the banking industry is facing increasing pressure.

Banks and savings institutions are struggling to cope with the increasing number of non-performing loans. Obviously, some lenders may be more bad than bad.

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

This tragic situation is unavoidable, but it will also lead to a series of acquisitions, eliminating some of the worst performing banks.

Savers are becoming more and more concerned about the operating conditions of banks. Many customers now say they are nervous and want to transfer their money to a safe place.

So now, I can responsibly say to all our old and new customers that the new intimebank will provide you with the most secure protection!

Our new bank will still offer higher interest rates than other banks and provide more friendly services, so that old customers who have left us due to concerns will return, because our bank is more confident to weather this winter!

Starting tomorrow, the Indy Mike Commonwealth Bank will be the main body, merged with the former Miami Valley Bank, the former Douglas National Bank of Missouri, and the former Hume Bank of Missouri, officially renamed as Yingtai Bank, the number of branches increased from 33 to 82 ... "

Wow

There was an uproar at the scene. I thought the Indy Mike Federal Bank's transaction was unexpected. I did not expect Andy Smith to quietly complete the merger and acquisition of four bankrupt banks, and set up a multi-state bank. Large banks have to admire the courage of this young man.

And more people saw Andy Smith's unwillingness and loneliness. 82 branches, alas, a new banker was born!