Chapter 36: Bailout failed
On September 25, the stock market was still falling uncontrollably. Just when everyone was selling wildly, five heavy-looking men were sitting in the office at 23 Wall Street.
Four of them are New York’s most famous bankers. Sitting across from them is the vice president of the New York Stock Exchange, Richard Whitney.
And sitting in the middle of the position, it was they who called them, the largest shareholder of the Morgan Consortium, Thomas Lamont.
They are also a group of people at the tip of the American pyramid, with a combined wealth of up to 6 billion US dollars.
"Mr. Lamont, things are getting more and more serious, people are losing confidence in the stock market, we can't let him continue." Richard Whitney's deep voice echoed in the office.
"Every hour, millions of shares are sold off. In this way, people not only lose confidence in the stock market, but even lose confidence in the overall economy." A banker looked worriedly at everyone.
Everyone knows what he is worried about, and that is also what they are worried about—crazy run.
"We must unite to rebuild confidence in the stock market." Thomas Lamont knocked on the table and said firmly.
The meeting ended at lunchtime. The bankers decided to take out capital of 250 million US dollars in total assets, inject it into the stock market, pull the market, and regain confidence.
Just after lunch time, Richard Whitney, the vice president of the New York Stock Exchange, returned to the exchange and shouted in front of the trading counter: "JP Morgan decided to buy 25 million shares of American steel."
Ranking at the counter, Richard Whitney turned to another trading counter again, shouting: "Mr. Rockefeller decided to hold 20 million shares of Ford."
In the cry of Richard Whitney, the market that was falling wildly showed signs of rebound.
Although this symptom only lasted for a moment, it finally stopped the downward trend.
Bankers and financial entrepreneurs are optimistic that all this will soon pass, including the optimistic American people who share this view.
"BOSS, the stock market stopped falling. Morgan and Rockefeller, including many bankers, jointly rescued the market, and the mass sell-off has stopped."
When news of the joint bailout came back to Chicago, Ben's mood became a little uneasy.
The think tank has a dispute. Jonny believes that the joint rescue of Morgan and Rockefeller will restore confidence in the market. These two names are equivalent to legends in the United States.
Meyton agrees with Ben's view that the financial bubble has come, and no one can stop this disaster, even Morgan and Rockefels.
Looking at the notebook in front of him, Li Zitao just asked him a sentence; "Are we losing money now? Or has it been liquidated?"
"Of course not." He looked at him in surprise.
"There is nothing hesitant about it, just keep reading." Li Zitao did not have confidence in himself, but chose between $5.57 million and hundreds of billions of dollars.
If he can't participate in this feast, then 5.57 million US dollars and penniless, it is no different for him.
"Things have happened. I can't believe what you can't do in your last life." After Li left, Li Zitao said fiercely with his fists clenched.
The time came quietly on October 1. The turbulent stock market seemed to be revitalized by the injected funds. The think tank tightened its nerves every day and stared at the phone on the table.
It was also on this day that a small merchant from the Bronx saw a piece of news in the newspaper about certain speculations about the Bank of the United States.
Picked up the newspaper and the small merchant quickly came to the New York branch of the United States. This is the second bank established since the independence of the United States.
Although for some reason, it turned into a state bank that can only operate in New York State, but no one can deny its glorious history.
The small merchant came to the branch counter and said to the bank clerk, "I want to sell my stock in this bank."
No one knows what they said afterwards, but after the small merchant left, a rumor spread in New York, "They refused to let me sell the stock."
Greater panic came, and within 1 hour, 25,000 depositors appeared in front of this sub-branch, until the bank closed, and the amount of the run was up to 2 million US dollars.
No one knows that the Bank of the United States has been losing money because of failed investment in real estate, and it is barely supported by making fake accounts.
Therefore, when the branches that belonged to Manhattan, Queens, Brooklyn and other places also faced a run the next day, the Bank of the United States with a glorious history went bankrupt.
As the news spread, people questioned the banking system in the United States.
Boom!
The stock market plunged again, but no one is paying attention to it at this moment, because the disaster is sweeping the American economy and the Great Depression officially kicked off.
The wealthy area, with its bright and splendid appearance, and villas with high-end furniture and ornaments in the house, beating and smashing things and the quarrel between husband and wife have become the new themes of life.
Every night, a new family will join them. This scene is staged in every city, not just a specific area.
boom!
When the famous economist Fair in his luxurious office, after drinking the last glass of red wine, put the muzzle in his mouth, despair became the only emotion.
And his suicide was only the beginning. The news of bankruptcy became the new darling on the news page. Every day, bankers chose to commit suicide because of bankruptcy.
The world outside is wailing. Unemployment, bankruptcy, alcoholism, complaining, and even suicide, life still needs to continue.
Alcohol consumption has risen one after another during this period. On the streets at night, drunks carrying bottles are everywhere.
They wear high-end suits hand-crafted and a pair of leather shoes is the income of ordinary people throughout the year, but the spirit of once was completely gone.
Area 22, lying in the room where the wall was falling off, Li Zitao put his feet on the squeaky bar and hummed a little song leisurely.
"BOSS, Nucky's call." Huang's call came from outside the house.
"Come." Li Zitao answered the phone, and Nucky's exaggerated complaint immediately came: "Li, you **** capitalist, I'm almost emptying my pocket."
"Well? It seems that I'm going to find a new buyer for the beer in the warehouse." Li Zitao ignored him, this guy always likes to complain, just like a complaint.
No one cares about the prohibition order anymore. Those former members of the Prohibition Association will sympathize even if they see someone carrying a bottle on the street.
Even the Prohibited Alcohol Detective has no time to manage these people because they are worried about their wages and the future of their families.
"FK, Lee, if you dare to do this, I will definitely kick your ass." Nucky shouted angrily, of course it was a joke.
Nuki already fell in love with Li Zitao after discovering that his friend was very reliable and could provide him with a reasonable and legal'gunman'.
"How is your committee?" Li Zitao asked casually.
"We are having a carnival." Li Zitao sneered, and believed your evil!
Nuki, who is in Atlantic City, seemed to see his expression through the microphone and pondered: "It will take some time, and the separation of interests is not that simple."
"Are you really not interested in participating?" Nucky asked again. This was the first time that Li Zitao had forgotten.
"No, I want to start my own business, Nucky, wait and see!" Li Zitao laughed heartily.
"Okay! I'm looking forward to sending my wine quickly, bastard." Hanging up the phone, Nucky looked down at the Tyvek outside the window.
"If they were mine, the meeting should have ended." Nucky thought.
Li Zitao, of course, does not know how envious Nucky feels to him in his heart, and even more envious of the loyalty of these people to him.
But he also did not know that Li Zitao used real gold and silver to provide huge insurance for this loyalty.
When the first $20 million knife was put into his pocket from the stock market, Li Zitao turned into a wealthy boy and cried while holding his pocket.
The'Overnight Riches' team, Li Zitao paid them $100,000 each, so that their family members can remain calm in a panic, and will not affect the genius' follow-up plan.
District 22, 126 Chinese families, as long as there are people in the family serving in SHIELD, each family is 50,000 US dollars.
Jamie Tang, a Chinese teenager who lost his life in the Royal Nightclub, in addition to the compensation of US$1,000 previously paid to his family, Li Zitao once again gave US$100,000.
Samood, although his present sense of existence is a little low, but since he turned to Li Zitao, he has always performed very well.
The small disputes and small troubles encountered by the Chinese family are all brought to him to solve. He never complains. He is very prestigious in the heart of the children, and Li Zitao can not be favored by others.
"Money is a bastard. If we spend it, we can make it again, woo..." With a big wave, more than 5 million dollars was gone.
My little money~www.wuxiaspot.com~ liao flew away (liao)......
After such a circle of money, Li Zitao's pocket was almost clean.
What makes him happy is that SHIELD has recently ushered in explosive business volume. Every day someone will come to consult and take away the bodyguards that satisfy them.
The current situation is a bit chaotic. Some bankrupt gamblers who have lost money in the stock market have red eyes and guns in their hands, wandering around the rich who want to get rid of their money.
This is a dangerous signal. Rather than expecting the city to be in peace, it is better to buy yourself insurance and money, which is never as important as life.
No matter what year and month, even in the Great Depression or the financial crisis, there will always be a class gap between local tyrants and local turtles.
In this disaster, he was not the only one who made money. Li Zitao got a positive answer from Ben, such as his old club, JP Morgan.
It is only in such an environment that everyone keeps a low profile to avoid being caught by people with red eye and causing unnecessary trouble.
The content about the meeting has been revealed. It doesn’t matter who leaked it. Anyway, everyone who was present at the time was full of prestige.
Thinking of Morgan joining Rockefeller and the bankers, throwing 250 million yuan to save the market, Li Zitao couldn't help but want to scold ‘Don’t force my face. ’
They all came up with such a shameless method. The capitalists' brains were turning fast, and they even took themselves out of the accusations by smashing their money, doing a beautiful job.
Know that they are giants, giants represent huge capital, but at the same time, they also attract the attention of society and people with red eye disease.
If the Great Depression comes and they have no action at all, those who are forced to go out of business after bankruptcy will have a hundred reasons to press the source of this disaster on them.