The Kyoto Bubble Era: Starting from the Sale of Hundreds of Millions of Properties

Chapter 404 Sudden bankruptcy declaration

On June 1991, 6, summer was coming, and the dreaded heat was quietly spreading in Tokyo.On this day, the Cosmo Credit Portfolio in Tokyo finally fell into an unresolvable cash flow crisis after several failed attempts at cash flow.

In addition, there are also so-called Erxin Groups, which are two major financial institutions, the Concorde Credit Portfolio and the Safe Credit Portfolio, which are also in crisis.

The funding problems of the three credit portfolios were actually discovered years ago, but at that time all eyes were on the banking industry, and not many people paid attention to these financial institutions, so the funding problems of the credit portfolios were ignored.

The presidents of the three credit combinations naturally do not want economic problems to affect their resumes, so they forcibly borrow funds from each other, conceal the real business situation, and continue to try some venture capital while deceiving customers, in an attempt to return their capital in this way .

However, this wave of domestic financial crisis that swept across Japan and started from the banking industry was beyond their imagination.

Any seemingly promising investment opportunity will eventually lose money. What is terrible is that the yen is still appreciating, and the expansion of overseas business cannot be realized at all. Their idea of ​​expanding profits through overseas investment is also shattered by the appreciation of the yen.

Instead, one after another investment funds disappeared without a trace.

On June 6th, the president of the Cosmo Credit Portfolio held a press conference, bowed 20 degrees and apologized, and then claimed that he was ashamed of the trust of the people and the expectations of investors. The real debt ratio of the Cosmo Credit Portfolio was as high as 127%. The amount exceeds 5000 billion yen, and there is nothing that can be done.

"It's too difficult to rebuild independently, we can't get help, so we can only suspend all business!" The president who is over [-] years old said, "I am guilty, I am ashamed of the staff and the public, and I am announcing my resignation!"

The debt ratio of the Cosmo credit portfolio is too high, and the amount of debt is jaw-droppingly large. Moreover, before the press conference, Kitahara Sosuke had sent someone to investigate the actual situation of this credit portfolio, and decided not to carry out the merger after a comprehensive analysis. Let him die.

Not long after the press conference was held, the four branches of Cosmo Credit Portfolio in Tokyo encountered an unprecedented run-on storm. The people were extremely angry because they could not withdraw money, and demanded an explanation from the Financial Services Agency and the Ministry of Finance.

People queuing up to withdraw money did not return day and night, and set up tents in front of the four branches of the Cosmo credit combination, with the attitude of "if you don't pay me, I won't leave".

The problem is that the Cosmo Credit Portfolio’s own treasury has long been short-lived. Where did the money come from for these people?

However, if the nationals' money is not paid out, the country will have to bear an unimaginable credit crisis, and the financial industry may completely collapse as a result.

Tomiichi Murayama held an emergency cabinet meeting at the prime minister's residence, and the Diet is expected to send someone to urge inquiries soon.

The cabinet members looked at each other, somewhat helpless.

The treasury is also empty.

Yasushi Mie, the president of the Bank of Japan, is now like a mute, standing there without saying a word.

Tomiichi Murayama glanced at Ryutaro Hashimoto, the chief minister of the Ministry of Finance and Financial Services Agency. He is equivalent to the prime minister of the cabinet and controls the economic power.

Hashimoto Ryutaro knew that Tomiichi Murayama was his own, so he had to help him solve this problem, otherwise the banking industry would collapse under his hands, and without anyone saying anything, Tomiichi Murayama himself would ask to step down.

"I think it's safer to let Tokyo Kyodo Bank take over." Hashimoto Ryutaro sighed, "At present, it is the only one that can eat this plate."

Everyone knows the answer, but no one dares to say it.

Who is in control of the Tokyo Kyodo Bank?
The presidents of the six major metropolitan banks under the six major consortiums, as well as the president of Hiraga Nobu, and the newly-emerged Sosuke Kitahara.

None of the eight people is easy to mess with.

Whoever opens the mouth will be unlucky.

"Will they agree to this? Didn't the Beiyuan executive say that the loss of Cosmo's credit portfolio is too serious, and the acquisition is not meaningful?" Nishimura Yoshimasa asked with a frown, "They are bankers and businessmen. It is hard to say that they have no interests. Get them to do it."

"Nishimura-kun, according to Article 20 of the Bank of Japan Act, the unsecured and unlimited 'BOJ Special Loan' must be activated immediately in this case, and as the only bank under the Bank of Japan to deal with bankrupt financial institutions , Tokyo Kyodo must become the receiving bank for this bankruptcy.”

Hashimoto Ryutaro's voice is thick and powerful,
"The so-called Bank of Japan's special loan refers to the Bank of Japan's rescue of financial institutions that have suffered from insufficient funds due to poor management. Now that Tokyo is a part of the Bank of Japan, it is natural to assume this responsibility."

Everyone was silent again.

It is true to say so, but who will force Tokyo Kyodo Bank to do this?
Whoever does it, don't even think about getting benefits.

Probably aware of their thoughts, Hashimoto Ryutaro lowered his voice, and said lightly: "I will personally communicate with Kitahara's manager about this matter, so you don't have to worry."

With his feedback, everyone heaved a sigh of relief, anyway, it's not easy for me to say.

That night, Kitahara Sosuke was still watching with great interest the people sleeping on the streets, setting up tents and eating picnics in political centers like Chiyoda Ward, Tokyo, and all the TV stations were scrambling to broadcast the news.

The crisis of the Cosmo credit combination and Erxin group has become a new hot spot in current affairs. Beiyuan Entertainment, which is well versed in the way of hot spots in later generations, raged wildly, completely igniting the anger of the public.

At this moment, the cell phone beside him rang.

"Cangsuke, call." Chino Rin, who just came out of the bathroom, only wrapped in a snow-white bath towel and still tied her hair, walked over and took a look, "It's Uncle Hashimoto calling."

"No, I'll pick it up the third time." Kitahara Sosuke reached out and picked up a bunch of grapes and stuffed it into his mouth. He didn't need to think about the intention of Hashimoto Ryutaro's call.

Hehe, the Cosmo Credit Group has gone bankrupt, and the Erxin Group is coming soon. Do you want Tokyo Kyodo Bank to take over?

None of these politicians are really reliable.

But he can also understand Hashimoto Ryutaro's intentions and difficulties.

Chino Rin said "Yes", she is now extremely obedient to her fiancé, and she is doing her best to play the role of the palace.

No one answered the phone, and sure enough, the second call came.

It wasn't until the third time that Rin Chino, who had just dried her hair, picked up her phone and walked towards Sosuke Kitahara.

Kitahara Sosuke glanced at the new phone, feeling a little helpless, used to the very high-end smart phones of later generations, this old style flip phone looks so awkward, speaking of it, should it be time to get in touch with Jobs?

The apple is not bad, what about the idea of ​​being bitten by a northern wolf?

"Moshi Moshi, I'm Kitahara Sosuke."

(End of this chapter)