Wall Street of the third generation chaebol

＜ The dissolution of Bethlehem. (1) >

“gibberish!”

Wharton of Bethlehem was furious.

Blood rushed to his head at the sudden utter nonsense of that young man. President of the Federal Reserve System and the Federal Investment Corporation.

‘What kind of crazy sound is this?’

The federal government’s economic policy-making power has been passed on to that young man? My brain started creaking as if it had stopped.

Isn’t that absurd?

“How can you be the chairman of the Federal Reserve and the head of a federal investment institution? You’re already a representative of private finance called a hedge fund!”

“You’re misunderstanding something.”

The young man tapped the handle of the chair with his finger.

“The Federal Reserve is ostensibly a private institution. It’s a central bank, but it’s a private bank with private banks as shareholders.”

“I mean that…”

“No. But please listen to the end. It’s important.”

Your eyes pierce the heart, and every word you say stings your heart.

“The Federal Reserve (FED) has transferred the issuing rights from the federal government’s Treasury Department, and 94% of the dividends from that money flowed into the Treasury. The notes are allocated to the Federal Reserve, but in effect it does not provide any revenue to the U.S. federal government. When it is vested, it looks like a public institution.”

I know that.

I don’t understand it because I know it. The young man in front of him knew that he even served as the chairman of the Japan Central Bank Committee.

‘Is it okay for power to be concentrated like this on one person?’

Common sense is shattered

The young man’s words were not yet finished.

“The Federal Investment Corporation is probably similar to the Federal Reserve system in its main idea. To establish a meaningful Federal Investment Corporation, private capital investment is also required. The risk is too high for the government to cover 100% of the federal investment corporation.”

“What nonsense that the Federal Investment Corporation and private banks are participating. If it is a public company, it is right for the federal government to take a majority!”

“Well, that’s right.”

youth. Detroit built a sculpture.

“The majority goes to the federal government. Of course.”

As if what I was aiming for was too obvious.

As the wolves on Wall Street hunt down and hunt a single foolish sheep, Detroit’s eyes didn’t even show a sense of pity.

“It’s natural, but you’re missing a few things.”

so natural.

Hunting for a meal for a wolf was so natural that he did not even think about the position of the lamb.

In his mind, he was already the target of ‘hunting’, not of ‘negotiating’ or ‘conversation’.

“As I said, I am the appointed president of the Federal Investment Corporation. I have the final decision on investment and I intervene in investment activities of a certain size or more. Because the federal government trusts my discretion and entrusts it to me.”

Detroit’s words were heard by Wharton.

Your Bethlehem’s right to rebirth depends on you, and you need my permission to make your Bethlehem come to life.

Wharton was horrified.

“Besides, private capital will have veto rights as a major shareholder of the FEB. It’s the second control I have with FFI.”

“Do you think that’ll be up to you?”

The United States does not tolerate the absolute power of one individual.

At least in the US where Wharton lived. There is no way the White House, which is closest to absolute power, will keep an eye on Detroit’s atrocities.

But it was another cold ridicule that came flying.

“I’ve reached an agreement with Roosevelt-elect, and the Federal Reserve’s legal advisors are struggling with the draft of the Federal Investment Act to propose to the Congressional Judiciary Committee. It will be.”

‘Roosevelt?’

Wharton panicked even more.

It was hard to believe that Roosevelt, who is called the vanguard of the anti-monopoly law, allowed such enormous economic monopoly power.

“Oh, by the way, I didn’t make the proposal for the Federal Investment Corporation or sovereign wealth fund head.”

“What?”

“This is a seat that President-elect Roosevelt was forced to sit in. I didn’t want a seat like this in the first place. So if you want to argue, ask him. I am also a victim.”

Detroit sighed with a genuinely regretful expression.

“That…what…”

Are you bullshit or crazy?

Wharton swallowed the swear words.

Even when the Bethlehem Shipyard was annexed, it was Roosevelt who interfered with the Naval Department’s agenda one by one. Did a human who grinded his teeth against monopoly like that, built a stronghold of the monopoly kingdom with his own hands?

For Wharton, this unbelievable reality felt like a joke.

“It’s no joke.”

The cool-faced young man slowly lowered his upper body.

“Don’t run away from reality anymore.”

“Escape from reality?”

“I’ll tell you for sure.”

This novel was posted at https://readwn.com

Only then did Wharton realize.

“Your company, the disposal of Bethlehem Steel is entirely in my hands, meaning that your negotiating target, wherever you go and how you evade, will end with me.”

Anymore.

There is no way out for yourself.

To live.

I have to pray to this young man.

“buy….”

dump.

Wharton trembled and knelt down.

“Just save me… Just save me.”

Wharton waved the white flag a while back.

Wharton, trembling, looked down.

Detroit got up and ruffled his shirt.

“It’s already too late.”

***

Melon Bank.

“Did you sell all your Bethlehem shares?”

New York Wall Street.

Mellon’s bank president asked his secretary. The secretary raised her glasses and handed over the report.

“According to the chairman’s order, I threw most of the stocks at a bargain price. It was almost delisted without being traded, but the New York Stock Exchange hasn’t listed it yet.”

“Detroit, your friend.”

“Yeah, I think so too. We sold everything and started the delisting process.”

It’s like riding the last train.

Melon Chairman smiled in vain. New York’s Top 10 Banks were like a group of New York’s most powerful people. Neither city nor state governments could touch them.

It is a matter of living a long life to see that he is riding the last train thanks to whoever he is.

“J.P. Morgan must have sold out, too. I’m envious of the children’s farming business.”

“The president is also a successful successor. Didn’t you elevate small and medium-sized banks to New York’s top 10 banks?”

New York Wall Street.

The person who symbolized the first generation of New York finance was John Pierpont Morgan, while the person who symbolized the second generation of New York finance was Andrew Mellon.

His achievements in raising a small and medium-sized bank to one of New York’s top 10 banks were without blemish to say that he was a self-made man.

“It’s embarrassing to be wrinkled in front of Detroit.”

Detroit Morgan.

He ate the American economy with a lower capital than himself. Is it just the US economy? It even swept the Far East economic bloc.

And what if he inherits New York No. 1 JP Morgan?

He will reign as the emperor of Wall Street in a democratic system.

Comparing yourself to yourself is embarrassing.

“The top 10 New York banks also sold all of their shares in Bethlehem Steel. Most institutions took them in block deals.”

“There is another organization that buys this.”

“It’s almost cheap. If you just take the legal risks, you seem to think that when Bethlehem Steel is revived, you can make huge profits.”

“Crazy guys.”

A vague hope that it will be revived if only the federal government’s mace is dealt with. will not be

Perhaps it was the intention to go on a corporate hunt after mitigating the risk somehow with lobbying.

They are vultures that eat corpses.

There are no good investors on Wall Street.

“There was quite a lot of demand, so we sold at a higher price than expected.”

“Good.”

With this, the chains bound with Bethlehem were untied.

Bethlehem was no longer directly responsible for whether Bethlehem was being investigated, charged, or disbanded.

Melon now only had to wait for the collection results of the collection agency.

“The federal government? Since Congress also passed the White Color Special Crimes Punishment Act, it would be quite active.”

New legislation covering trust companies.

In effect, the bill liquidated all Bethlehem shares.

“It’s still confusing, but it’s clear that the acting president is in Roosevelt’s hands. The acting president is from the legal profession, so he said he’s familiar with Attorney General Taft. They say that he and Roosevelt are having a meeting with three people.”

“Where are the sources of information?”

“This is a Waldorf-Astoria hotel.”

“Then I’m sure.”

Chairman Melon shrugged.

“From now on, the wind of blood will blow.”

***

Federal Court of New York, New Jersey.

ground ground.

“I approve the suspension of the executive order of Standard Oil.”

Suspension Judgment.

After McKinley was assassinated and assumed the presidency, courts in New York and New Jersey approved the suspension.

White House.

“Our administration respects the judgment of the New Jersey, New York federal courts and will not file an appeal.”

A White House spokeswoman nailed it.

With this, the decommissioning order for Standard Oil was officially withdrawn.

“and….”

However, there was still a case in progress for the White House, so they turned their eyes on and prepared to rush in to restore their honor.

“The White House deeply regrets this incident that caused injustice at Bethlehem Steel and Bethlehem Shipyard, and foreshadows the ‘appropriate’ action of the Administration to follow.”

He drew his sword toward Bethlehem.

[Bethlehem Steel, designated as the target of the second white color special criminal punishment law after New York trust companies. Notice of indictment by the White House.]

[Congress, Bethlehem Board of Directors and Bethlehem Major Shareholders Announced Hearings.]

[Hedge fund admits that there is an error in the credit rating of Bethlehem. Prior to the collection, we plan to re-conduct the accounting audit and internal audit. Rating downgrade under review.’]

[Actually the default. The bankruptcy petition in Bethlehem was also dismissed under the White Color Act.]

[Federal government is working to extinguish the concerns of minority shareholders. ‘The White Color Act is a law that only applies to major shareholders. There will be no harm to minority shareholders.’]

– The Wall Street Journal.

🥳

grabbed the newspaper.

“Today, the knights are gorgeous. That’s what the United States is like. How come the accidents don’t stop.”

“…..Is that so.”

“What’s with those eyes? You seem to have a lot to say.”

“no.”

It’s all the mastermind….

James, who had a lot to say, shut his mouth to preserve his lifeline.

‘Really, I’ll have to give it a shot later and explain it on my own.’

I messed up my hair.

For some reason, it seemed that Detroit, which James saw gradually, was changing to the feeling of the great demon king who opened the demon world rather than the wolf of the financial world.

No, this is the average monthly price.

say it’s real

“By the way, it seems that a subpoena has been issued.”

“A hearing?”

“Yes. Bethlehem sank the dreadnought, so in addition to investigating the insider corruption or embezzlement, they are summoning investors. They are the major shareholders. Of course, the board of directors has been summoned.”

“The federal government grinded teeth to restore honor.”

“Not only that, but also subpoenas for congressional hearings, but also subpoenas for the Federal Attorney’s Office.”

“I’m trying to get Bethlehem very well.”

But it didn’t matter.

Anyway, the federal government needed a scapegoat to hang to revive McKinley’s damaged reputation, and it was a matter of human resources, not material resources.

As a collection corporation, we needed material resources.

“How’s the collection work going?”

“First of all, we seized a large shipyard at Bethlehem Shipyard. The Newport News Shipyard will take over the Bath Shipyard and Union Shipyard. We will start working as soon as we get the federal court’s approval.”

“The size of the Newport News shipyard is going to grow tremendously, but can President Huntington control everything?”

Newport News is currently under the jurisdiction of President Huntington.

Although it was suspended this time with a veto, the dreadnought construction program originally planned by the Portsmouth Company was scheduled to be conducted at the Newport News Shipyard.

Wouldn’t that be enough for two large shipyards?

“President Huntington readily nodded. I have a lot of acquaintances involved in the private shipbuilding industry, so they tell me to take over as much as I want.”

“Well, we also continue to send personnel from the naval shipyards who have been discharged from our side. We can’t be filled with only Huntington’s people. It’s stagnant.”

“Yes.”

Huntington’s reasons for attracting private shipbuilders were obvious.

The war that once engulfed the Pacific is over.

As soon as Congress draws its sword and begins disarming the U.S. Army and Navy, warships will be scrapped or exported abroad, with the exception of dreadnoughts for maritime security.

The era of private shipping is coming.

Bases were established in the islands of the Pacific, and the opening of the Pacific supply line, Hillline, opened up a great sea route through the Pacific Ocean.

“I heard that private shipping companies are already pouring in orders for ships as Japan is fully opened up by the free trade agreement, right?”

“Yeah, it’s the shipowners, not the shippers to be exact, but orders are pouring in.”

“Newport News will turn to the black now.”

2 years.

It was a long time.

Eventually, Bethlehem was dismantled and the Newport News Shipyard ate it.

I felt the passage of time again.

“Ah, Master. The personnel of the Naval Ordnance Bureau are also replaced. They say that the Federal Prosecutor’s Office discovered a double ledger of the Naval Ordnance Bureau while investigating a white-collar crime.”

“Haha, really?”

It’s a bone

And yet, the whistleblower bomb handed over to me by former Navy Secretary John Long is still alive and well, and I’m out of luck.

“It’s the Naval Weapons Bureau…”

Not right now though.

Suddenly, the torpedo scandal came to mind.

As far as I know, the rotten result of the Naval Ordnance Agency’s cartels and dead people from the early days exploded in the worst form of a torpedo scandal.

If it’s water change once now.

Will the torpedo scandal be a thing of the past?

‘This whistleblower was handed over by former Navy Secretary John Long. Do you see the time and try to blow it up?’

He swept his nose, repeating the thought of being startled if James had heard it.

It is also worthwhile to be patriotic.

***

A month later, the Korean Empire.

Gyeongbokgung.

“Dr. Allen, what is this letter? It’s written in English.”

Gojong and Lee Hyung picked up a stiff and clunky paper bag. A total of two envelopes, which were quite thick, were sent sealed with seals.

– United States Congress

– US Attorney’s Office

Allen was sweating profusely.

Two envelopes sent to the address of the offshore company established when Bethlehem Steel of the United States invested in, flowed into Gyeongbokgung Palace by the hand of the investment agent.

– Public hearing Subpoena.

– Prospector Summons.

Allen looked at Lee Hyung, who was reading the summons with curious eyes, sweating.

There seemed to be a limit to interpretation because legal terms and technical terms were mixed.

“that…..”

“Well?”

ruined.

Prince Allen swallowed his saliva.

How can I tell the truth that the investment destinations that he has encouraged and invested are being entangled in embezzlement and corruption, and even the major shareholders are being summoned?

In the first place, would he be able to understand the system of the United States even if he told the king of Joseon?

Right now, even myself is confused about how the board is running because it’s complicated.

But Allen was determined to speak.

He is his homeland.

America was more afraid.

“This is a summons.”

His movement stopped suddenly.

Naksaeng-myeon, Gwangju-gun, Gyeonggi-do.

Lee Wan-yong’s mansion.

“Your Majesty has issued a teaching paper.”

Lee Wan-yong accepted the book that was given to him. He tore open His Majesty’s teachings, written in secret letters, and read them.

“USA?”

“Yeah, you’ve made a decree that you’re going to appear as a proxy in the summons from Mi-ri-gyeon.”

“Why me?”

“Well, isn’t it because you’re the first U.S.-American minister and pro-American faction? There is no pro-American faction in the palace that knows Mi-ri-gyeon as well as you.”

Lee Wan-yong looked down at the letter again.

Lee Wan-yong, who was pushed back to Jeolla Province due to a conflict between the Independence Association and the imperial family, and was dismissed from office due to negligence and embezzlement of public money, instantly realized that this might be his last chance.

“Is that so.”

his eyes gleamed.

＜ The dissolution of Bethlehem. (1) > end