Revisiting Future Path

After the 221st political and economic division at eight o'clock in the evening, the details of the acquisition of 40% shares of Lehman Brothers by Rose Fund, China Investment and CITIC continued to come. Netizens were surprised to find that the Spring and Autumn Group stood behind the strange-sounding Rose Fund. From security steward to Xinbao, from Chunqiu Internet to Chunqiu search, there is always a Chunqiu product that will become the daily companion of netizens. The influence and topicality of Spring and Autumn on the Internet far exceeds that of China Investment and CITIC. Chunqiu's intervention not only relieved the pressure on China Investment Corporation and CITIC, but also made the acquisition slightly overshadowed the time of Sanlu Group's melamine milk powder, which became the hottest topic on the Internet that day. Wei Dongsheng's video speeches to Lehman Brothers investment clients also spread quickly in the form of text and pictures. Fuld's retrospective introduction of the results of the Rose Fund aroused an unclear applause; Wei Dongsheng recites "Bian Que meets Cai Huangong" in English, and all forums covered the tall buildings; Wei Dongsheng's "Sell not for short", quickly It has become a buzzword on the Internet; it wasn't until Wei Dongsheng talked about big data that there was more discussion in the atmosphere of onlookers and joking. Many netizens are not clear about the hidden rules of Wall Street investment banks, and take the analogy of buying investment banks to buying ordinary companies. Netizens looked at the acquisition with such a mentality. They could not help but feel optimistic that the huge acquisition of the famous Lehman Brothers was the first sign of China Capital's entry into Wall Street. They misunderstood that the acquisition of Lehman Brothers would have a place on Wall Street. CIC and CITIC did not explain, and Chunqiu Search did not explain, because everyone's optimism overestimated the value of this acquisition. Generally speaking, Chinese public opinion tends to support this acquisition. International capital is also optimistic about this transaction. After the opening of the U.S. stock market, Lehman Brothers' share price first fell and then rose against the backdrop of financial stocks, and became the only financial stock that rose on that day alongside Merrill Lynch. Benefiting from the association of the Rose Fund and the concept of big data, the stock price of Chunqiu Search, which was constantly falling due to the economic crisis, soared by 19.96% that day, and its market value soared from US$27.47 billion on September 12 to US$32.95 billion on September 15. . Of course, the financial crisis cannot end so easily. Just as Wei Dongsheng recites "Bian Que Meets Cai Huangong" repeatedly, Bank of America's acquisition of Merrill Lynch and Rose Fund's joint acquisition of 40% of Lehman Brothers' shares are both a symptom and not a permanent strategy. The longer the delay, the more severe the damage caused by the financial crisis. The lifting of the crisis between Merrill Lynch and Lehman Brothers paralyzed the judgment of Wall Street giants to a certain extent. Facing the more serious American International Group AIG, Secretary of the Treasury Paulson and Fed Chairman Ben_Shalom_Bernanke decided to perform another 48-hour emergency rescue miracle by Merrill Lynch and Lehman Brothers, pushing other buyers to take over AIG. Unfortunately, there is no second rose fund in this world. From September 15 to September 19, Paulson and Bernanke realized that AIG, a monster that was too big to fail, could not be rescued by similar buyers such as Bank of America, Rose Fund, Mitsubishi, etc. of. At the same time, Putnam Investment (Putnam_Investments) was forced by investors to run on their capital and distressed to announce the liquidation of a US$12 billion monetary fund under its umbrella, which immediately brought more chain crises. Lehman Brothers and Merrill Lynch’s September 15 stock price hikes bucked the trend and became short-lived erections, which followed the trend and fell endlessly with other financial stocks. The poor performance of Lehman Brothers dragged down the performance of the Rose Fund. Many high-end clients ignored the provisions of the two-year no withdrawal contract and demanded the redemption of funds. The chain reaction of the decline in the credibility of the Rose Fund further dragged down Spring and Autumn Search. The 19.96% surge on September 15th, and the decline soon disappeared in just a few days. The market value of Spring and Autumn Search calculated at the closing price on September 23 was only US$25.66 billion. Mo said that the surge on September 15 has evaporated US$1.81 billion compared to the US$27.47 billion market value before the Rose Fund’s joint acquisition of Lehman Brothers. . The US stock market fell, the Japanese stock market fell, and the Russian stock market fell... Japan made an emergency injection of 2 trillion yen, and Russia made an emergency injection of 475 billion rubles... The crisis from September 15 to September 21 caused Merrill Lynch, which had just received financing. , Lehman Brothers, Morgan Stanley (Japan’s Mitsubishi acquired 20% of Morgan Stanley’s shares for US$9 billion), Goldman Sachs (Buffett’s Berkshire Hathaway bought Goldman Sachs’s US$5 billion preferred stock), and they quickly grew overturned risks of. At this time, various financial institutions are living like years at all times. Due to the increasing embarrassment of the current situation, the Fed had to temporarily approve emergency rescue measures late at night on September 23, authorizing the Federal Reserve Bank of New York to provide AIG with an emergency loan of 80 billion U.S. dollars; to approve Goldman Sachs, Morgan Stanley and Ray Man Brothers turned into a bank holding company in order to accept greater rescue operations; provide 100 billion US dollars to commercial banks through short-term loans to ease the credit crunch; the largest government-government rescue plan in history with a total of 750 billion US dollars, the fastest Start the process. At this point, the financial crisis officially broke out. Compared with 30 years of memory, the current financial crisis came a little later, and the intensity increased slightly because of the delay. The financial crisis is global, and China cannot escape it. On September 24, the Shenhai Securities Index broke through 2,000 points, plummeting 4.5%. This is helpless. The Chinese government cannot isolate the impact of the financial crisis, and Wei Dongsheng has no such ability. This is a historical journey. Wei Dongsheng didn't bother to think about the financial crisis. As the Shenzhou VII manned spacecraft revolved around the earth, Wei Dongsheng packed up and saluted and returned to Panyang City. Unexpectedly, as soon as the wheels were walking on Jinjin Street, Secretary Wu suddenly called, "Mr. Wei Dongsheng, can I stay in Yanjing for a few more days?" Wei Dongsheng stroked his forehead in distress, "What are you talking about." Secretary Wu said: "The first assistant and cabinet elders are curious that Rose Fund's big data analysis predicts the financial crisis. Can Spring Search expand on the topic of big data analysis of economic crisis?" Wei Dongsheng did not recklessly refuse. Regardless of political and economic division, whether it is the development of enterprises such as Chunqiu, Zhiyu, Zhixing, and Zhuwei, or the development of the quantum wave circle in the future, they cannot leave the support of national policies. Those policies that you feel have nothing to do with you will actually affect you quietly and indirectly. For example, products such as Yu'ebao Wealth Management cannot be launched by Chunqiu if they want to launch it. We must first have a policy release before the credit treasure under Chunqiu can launch Yu'ebao Wealth Management. Lifting the policy of restricting Yu'E Bao's financial management is the ruling idea of ​​the next cabinet's first assistant. No matter how advanced and complete the technology of Spring and Autumn Credit Bao is, it will not be launched before 2012. After the first assistant of the next cabinet takes office, the slogan of financial innovation will be shouted, and products similar to Yu'ebao Finance will become products that comply with regulations. Of course, policies have their pros and cons. By then, a bunch of high-yield variants of Internet finance and campus naked loans will also emerge in endlessly. The similar effects are numerous. The bigger the enterprise, the more it cannot do without policy support. Therefore, the news from Secretary Wu is actually good news. Secretary Wu's so-called extension, if it can be passed to the thirty-two cabinet elders for discussion, Wei Dongsheng may be able to influence the cabinet's collective decisions through his discussion and formulate some policies that are beneficial to Wei Dongsheng. Wei Dongsheng accepted this task decisively: "What are the main extensions?" Secretary Wu: "The intensity and scope of this round of financial crisis, what crises or opportunities it will bring to China? Faced with this round of financial crisis, China What measures should be taken? Wait. The first assistant said that you should not be taboo, just say what you think. In the face of a crisis, you need to break the old ideas and innovative thinking." Wei Dongsheng: "How long will it take?" Secretary Wu: The sooner the better." Wei Dongsheng: "Good." Wei Dongsheng stopped leaving Beijing and immediately returned to the Beihai Courtyard to prepare a report. Wei Dongsheng would not believe that Secretary Wu "say whatever he wants to say". Instead, he carefully considered the thinking of the current cabinet and put forward his own opinions with reference to thirty years of memory. Perhaps because of the hindsight Zhuge Liang learned from 30 years of memory, Wei Dongsheng’s report has unexpectedly received a high degree of attention from the cabinet. After submitting this report, Wei Dongsheng was invited by cabinet elders to the south of Aoyu Bridge to further expound his ideas; Wei Dongsheng did not have time to be surprised and took advantage of this rare opportunity to wander around the cabinet elders against the storm brought by the financial crisis. between. During the period, Wei Dongsheng witnessed the introduction of many policies. For example, the cabinet was not eager to promote the construction of high-speed rail. Now, in order to expand domestic demand and promote stable economic growth, the cabinet has decisively announced that “focus on the construction of a number of passenger dedicated lines, coal transport corridor projects and western trunk railways, improve the expressway network, arrange the construction of central and western trunk airports and branch airports, and speed up the city. Grid transformation” and other measures to speed up infrastructure construction. Among them, the Beijing-Guangzhou high-speed rail project, after the State Council approved the "Medium and Long-term Railway Network Plan" in 2005, the Minister of Railways based in Wuhan, and finally pushed the southern section of the Wuhan-Guangzhou high-speed rail into construction. Now that the financial crisis is encountered, the country has decided to invest heavily in infrastructure. All problems are no longer a problem. The Shiwu high-speed railway and the Beijing-Shijiazhuang high-speed railway in the northern section were announced at the same time in early October. Wei Dongsheng actively exerted his influence, using the rhetoric of developing the central and western regions and guaranteeing the optimistic prospects of Panyang City, he struggled to persuade the cabinet to use Panyang City as a pilot. On the basis of the existing horizontal and vertical high-speed rail plan, Panyang was connected to the Beijing-Guangzhou high-speed rail. At the same time, Wei Dongsheng persuaded the cabinet to raise funds to build two slash high-speed rails, one connecting Panyang City to Shenhai City and the other connecting Panyang City to Qingdao City. . In this way, Panyang City can establish simpler and more convenient economic exchanges with coastal areas such as Guangyang, Yanjing, Shenhai and Qingdao through high-speed rail.