Mediterranean hegemon

All the news about the press conference appeared in the newspapers early the next morning, and they were all full of sensational headlines. This day was September 5, which happened to be a day off. The stock market was closed, the Union Bank was closed, and Hoover did not go to the White House to work. He read the newspaper at home.

He thought that after his phone call with Contini yesterday, the other party responded in the affirmative, and that the content of today's press conference must be to calm things down and appease the market. However, after reading the newspaper, he became furious: Why did Contini appear on the news at night? There was such a sudden commotion during the press conference. Is this his attitude of minimizing big issues and trivial matters? They are escalating the war! This is forcing the palace! No matter whether the Fed has problems or not, no matter how wronged United Bank is, as a commercial bank, we should first respect management authority and not fight. Confrontation is not the way to solve the problem!

Frustrated, he wanted to immediately pick up the phone and call Contini to ask him why he made the situation worse. However, Hoover was the president of a country after all, and he should have the calm demeanor, so he held down the phone again and just said: If you continue to read, you must at least calm down a little bit. Otherwise, if you communicate with Contini with this momentum, you will definitely quarrel, and the quarrel will not solve the problem.

After reading the whole news, Hoover's mentality became a little calmer. After all, he also said good things to himself at the meeting yesterday: He ignored the Federal Reserve and the President of the United States very lightly, and also proposed to sponsor his re-election fund of US$3 million. It was really good. idea. He knows Contini's temper well. He usually doesn't make promises personally. Once he makes a promise, he will definitely fulfill it. If he says 3 million, it will be 3 million, and he will never lose a dollar. At this time, Hoover began to feel a little happy again. Unexpectedly, just after being president for half a year, some people expressed their intention to donate money to his re-election. This is hardcore!

Then Hoover saw the thing about the Bank of Siena, and he suddenly understood Contini a little bit: This guy was used to calling the shots in Italy, and people flattered him everywhere. It was really uncomfortable to suddenly be exposed to such a Federal Reserve. Even Hoover didn't understand why Union Bank and the Federal Reserve were at odds? It must have something to do with the CEO's personality. This kind of person can only be coaxed, not pressured, and something will happen if he is pressured. You can see in his statement that he still promised to solve the problem, but how bad is his attitude towards the Fed?

After figuring out this link, Hoover also considered the problem from Contini's standpoint. It was exactly as he said: The loans have been issued, how could they be withdrawn inexplicably? Even if United Bank does not care about the losses, will anyone still seek loans from United Bank after doing this? Won't! So he is also telling the loan customers.

In the end, he thought about it for a long time and thought that he had figured out the front and rear joints. Then he called Contini. He started with a few pleasantries as usual, and said half-jokingly and half-seriously: "You said at the press conference that you wanted to give I donated 3 million to the re-election campaign fund, can I take it seriously?”

"Of course, as long as you decide to be re-elected, I will donate a total of it!"

"Thank you so much."

Then he started talking about serious things, but Contini, who had been joking just now, couldn't help it when he heard Hoover's criticism of his too radical statement, and his attitude became very bad: "Your Excellency, please take a look at the Federal Reserve's statement first. "It's too late to get angry with me anymore!"

"Statement? What statement?"

At this time, the secretary handed over a copy of the statement just issued by the Federal Reserve: ...We are paying great attention to the credit and assets of United Bank. Although United Bank is a foreign bank, since it is listed in the United States, operates in the United States, and absorbs American funds, then It must serve the main body of the U.S. economy. The Federal Reserve expressed concern about the operation of the Union Bank and believed that there were huge risks. It reminded the market and the majority of depositors to pay attention to the risks and protect their assets!

Hoover was immediately furious: What kind of bullshit statement is this? The president is young and energetic and makes a statement, but your Fed is so ignorant? Why are you posting this? Lure depositors into a run?

He said angrily: "Let me investigate. I think there may be some misunderstanding here. Should we hold another press conference today to clarify it?"

"Your Excellency, I think we should open it again on Monday. At least this kind of rumor has spread, and depositors will definitely come to withdraw money. If we hide it, nothing will turn into trouble. It is better to withdraw it generously." I think I still have the coping ability..."

"That's okay, then we'll open on Monday, Calais. For my sake, don't talk too much... It's good for everyone. After all, the Federal Reserve is a quasi-official institution, and there are many other banks down there? What about you? If they are unable to step down now, how will they manage other financial institutions in the future?”

"Okay, I understand, let's see you on Monday!"

As soon as the call was hung up, Mellon's call came in, reporting the Fed's statement.

"Didn't I say it yesterday? You can't publish this news." Hoover's tone was very bad, but Andrew Mellon was a big shot, and he couldn't reprimand him at will, so he said, "This statement is intensifying conflicts!"

"But Your Excellency, it was United Bank that instigated the conflict in the first place. Didn't you see today's newspapers? They are overwhelmingly filled with their statements and statements. The first one asked the Federal Reserve to apologize and the person in charge to step down. This is a naked attempt to force the government to oust someone. ...This kind of behavior cannot be tolerated! I am also united in the Fed's counterattack." Mellon was also in a bad mood. He became angry after reading the newspaper this morning, thinking that Contini was lawless and did not take the US government seriously. inside.

"In addition, this statement was drafted yesterday and was given to some reporters for review...Originally, we could not have published it, if this guy had restrained himself a little. However, he actually said this at a press conference, early in the morning Many reporters called me. If we don’t dare to uphold the majesty of the administrative agencies under his threats and pressure, how will we manage the country in the future? So I agree with them when they issued this statement!”

Hoover was speechless. Of course he knew Mellon's personality. He was also a leader of consortia and the financial community. Contini's criticism of the Federal Reserve was tantamount to criticizing Mellon! That's why he agreed, it was a challenge. Moreover, from the Fed's perspective, Union Bank has simply turned a deaf ear to supervision and remained unmoved. It would be unreasonable not to make such a statement.

There is no need to call Contini again, because the other party will definitely argue: you drafted the statement a long time ago. You drafted the statement first, and I counterattacked later, not the other way around. What? You said you hadn't issued the statement at that time? But what do you mean by showing it to reporters? Doesn’t this mean it’s announced? Do you think I'm stupid?

Hoover could only wait anxiously for the news on Monday. He decided that if the situation continued to escalate on Monday, he would have to intervene. Otherwise, it would be bad for either party if the situation continued. Contini is not a simple leader of the consortium, he is the current leader of Italy. Son-in-law, the future leader of Italy. If the relationship deteriorates, will the relationship between the United States and Italy get better in the future? Although Italy is not strong and the United States is not afraid, the United States is currently suppressed by Britain and France in Europe, and Germany cannot hold up the wall. Italy is the only export for the United States. It will do little good to the United States to mess up the relationship between the two.

On the night of September 5, the top management of United Group held a meeting at United Bank. Francisco asked Contini with some worry: "President, do you really plan to stay open all night tomorrow?"

"We are working 24 hours a day, all windows are open, all other work is stopped, all staff's vacations are cancelled, and we are going all out to deal with this trend."

"What about the pressure of the squeeze?"

"There will be no problem." Contini smiled, "Union Bank has a total of 48 business outlets in the United States. Each outlet has as few as 4 and as many as 9 business windows. On average, we calculate it by one, which is 300. indivual."

"The actual number is 304."

“What is the average amount of deposits made by individual customers now?”

"More than $700."

"Calculated based on 800 U.S. dollars." Contini said, "The window is fully equipped to cope with the run. Each round of transactions can withdraw 240,000 U.S. dollars. I pressed 4 minutes for one round at the fastest, and 5 rounds can be completed in one hour, that is one hour. US$300,000 was withdrawn in one day..."

While he was still pondering, Aquilani beside him had already calculated that 8.4 million US dollars needed to be slipped away.

"Calculated as if it were US$100 million...can our cash flow keep up?"

Francisco thought for a while: "I can catch up within 3-5 days. There will be gaps in the follow-up. I hope I can make it in time."

Contini smiled: "There won't be so much pressure in the future. The most difficult part is the first three days, so everyone must..."

Enzo, who was in charge of security, thought he was going to say "stand it", but he didn't expect Contini to say: "Let everyone act like they can't stand it, but in fact we can stand it!"

Francisco nodded: "I will issue a statement in due course to appease the morale of the military..."

Got it!

Enzo, who had always been unable to understand, finally understood it all: the president deliberately angered the Federal Reserve in order to induce a run on the market. Once a run occurs, the entire financial crisis will be ignited. At that time, there will be enough reasons to reduce holdings or go short.

"Enzo, your people must be well prepared for security and do not allow anyone to take the opportunity to make trouble. If someone makes trouble or causes a dispute, they will be sanctioned immediately. If someone is armed and making trouble, you can fire a warning shot, but you can not shoot. Just don’t shoot.”

After Contini gave his explanation, he added murderously: "If an armed group approaches and shows hostility, no matter who it is, shoot to death! The tank will be filled with oil. When the time comes, you and I will have one, Mr. Francisco and Aquilani "

"In the event of a major incident, remember to kill Livermore first and be smart! Then send a message to the fleet, prepare the naval guns, and keep the boilers in optimal condition! If the Americans dare to use their troops and are allowed to open fire, I will take responsibility for anything. !" Contini said, "This is a crucial battle for whether the United Group can gain a foothold and gain something in this storm. You must show your courage! There is no enemy that is invincible, and the same is true for the Americans! ”

"Long live Italy!"