Wall Street of the third generation chaebol

＜ The roar of monopoly. (3) >

Washington DC

Department of Commerce.

“Get some Carnegie Steel’s information documents right away. Bring them all out regardless of the confidentiality level! There’s probably not a lot of data that has been researched on Carnegie Steel!”

“Should we also get data on J&L Steel? It’s a recently acquired company.”

“Of course! Scrap them all. They were competitors of Carnegie Steel in Pittsburgh in the first place! Wouldn’t those guys have more information? Scratch it right away!”

“Yes!”

Department of Commerce.

It was one of several reforms that Roosevelt implemented as soon as he took office.

Along with the sovereign wealth fund, an economic department that will have a profound impact on the US economy was born.

derived from the Department of State.

It was originally planned to be newly established as a watchtower for monopolies, but due to Detroit Morgan’s track record and business spread internationally, it had to be derived from the State Department.

A new administrative department was organized with the State Department personnel as the basic framework.

Minister of Commerce.

George Bruce Cortellho.

In short, Minister Cortellhos raised his glasses and gave instructions everywhere.

“Always be aware that our Department of Commerce is basically an administrative body designed to supervise and monitor monopolies in industry!”

Roosevelt did not abandon antitrust laws.

In fact, the White House secretly prepared a blacklist and handed it over to the Department of Commerce, and the companies on the blacklist are still being monitored under Cortellho’s command.

“Secretary, there are too many documents on Federal Steel, so it is difficult to search. I think it would be better to get rid of Carnegie Steel first.”

Top of the blacklist.

It was occupied entirely by Detroit Morgan’s monopoly.

Detroit Morgan.

It is very difficult to determine the ownership structure of his monopoly companies. His companies, which he organized through third countries, had a privately-blocked equity structure, which was impossible to find out by ordinary means.

“Did the Swiss bank still say that it would not disclose information?”

“This is the policy of the Swiss bank. Even if the U.S. government steps in and requests to read the information, it does not hesitate. The term “black money” is not for nothing.”

Basically, the Department of Commerce is an administrative agency derived from the Department of State. The State Department is effectively the position of the foreign ministry of another country.

In short, the ability as an intelligence agency is outstanding.

Employees of the Department of Commerce?

Most of them were elite diplomats, so their intelligence-gathering abilities were excellent.

“Let’s get over that for now. The urgent thing is Carnegie Steel and Federal Steel. You continue to investigate.”

“Yes.”

“Oh, and couldn’t you read the equity structure of the German Investment Corporation?”

“Yeah, the German Investment Corporation was particularly picky. They created ghost companies in the City of London, but they can’t be read.”

City of London.

In fact, it should be considered a municipality. No, more strictly speaking, it’s England, but it’s not England.

Even the Queen of England has to go through the strict procedures when entering and leaving the area, just like other countries do.

It was an independent financial city, and it was a financial city that could be more demanding than Switzerland when it comes to information access.

autonomy.

They are governed by the mayors of the City of London.

In other words, it is correct to assume that Detroit Morgan’s information is never viewed.

It was the unwritten rule of City of London to not leak financial information as much as possible.

“Crazy. Even a corporation has been established in Switzerland. You can’t know the information of the German Investment Corporation.”

“The Prussian cabinet also rejected the request for equity information in the German Settlement Bank. In fact, it appears to have been rejected by the Kaiser of the Berlin Palace, the guardian of the German Investment Corporation.”

He knew that the German Investment Corporation was an investment institution established at the request of the Kaiser.

“That’s why Detroit Morgan is so scary.”

“Are you scared?”

“Have you ever discovered a single force that completely opposes him during your intelligence investigation?”

Even Belfour wants to keep their distance.

It’s not entirely Detroit Morgan. As long as the core of the UK economy is tied to Detroit Morgan in the first place, it is impossible to stop losing.

If they lose their loss, they must be prepared to return both arms.

“Does such a crazy person exist? In fact, he is the economic president of the United States. If he is hostile, he will never look good.”

“…The Empire of Japan.”

“ah.”

there is

The country name is now gone.

Japanese Empire.

“It’s terrible.”

“Yeah, I got my ear cut off and soaked a country. It must be an example of what it would be like to be hostile to Detroit Morgan. At the very least, Belfour would have been scared.”

Minister Cortellho shook his head.

“That crazy bird…there’s no way there’s still a human hostile to him.”

Silence fell for a moment.

“…Where should I start reading information about Federal Steel? There are too many informational documents. There are more than any other railway company.”

de facto city

Because railway companies are like a city by their nature, the amount of information goes crazy from the accounting books.

Cortellou was startled.

“Why so many?”

“There are a lot of M&As. The initial name of Federal Steel is Illinois Steel, and there have been about 10 large-scale mergers and acquisitions.”

“Illinois, Minnesota, Pittsburgh, the Great Lakes… crazy. crazy.

is this a company?

In fact, I may have spelled the city wrong. If the headquarters of those companies and the steel mills were all gathered in one place to create a city, it would not envy any large city.

Is it a steel city?

“Federal Steel has a restructuring headquarters in New York, effectively acting as a control tower.

“Your name is bloody once.”

“Yeah, but not many people actually laid off. Rather, they’re hiring more.”

“You’re declaring that you’re going to monopolize it soon. It’s going to sweep the global steel market, but of course you have to hire additional workers. I’m worried that the US labor market will be eaten up.”

The labor market is eaten up.

It is close to saying that it will completely swallow the economy. It means that their employment status will change the US employment indicators.

It means that the American economy will be shaken by their board’s decision.

“US Steel.”

This is the name of the company that Detroit Morgan requested permission for the M&A. Mergers and acquisitions of Carnegie Steel and Federal Steel, No. 2 and No. 1;

Combined, the U.S. market share is 90%.

A final settlement was reached at the Waldorf-Astoria Hotel and is awaiting approval from the Ministry of Commerce.

The Department of Commerce was still small.

“You’re in a lot of trouble too.”

“No. Minister. I will roll up my arms for the sake of American industry.”

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Office of the Minister of Commerce.

Cortellho was speaking with the director of the Department of Commerce’s Business Bureau.

“I’m going to go in the direction of permission for now.”

“Yes? If it’s at the top of the blacklist, shouldn’t it be dismissed immediately?”

Cortellho pointed to the sky with his index finger.

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Oh

The business manager nodded.

“The White House’s orders.”

“It’s not just an order, it’s an order directly from the president. He told me to fully cooperate with Detroit Morgan, but be prepared to contain it.”

“Well, the US economy…”

“The moment Detroit Morgan goes out, the American economy is set back by about a decade or so.”

Nothing compares to England.

Anyway.

Minister Cortellho drooled.

“I’ll have to sign the US Steel M&A permit request. But I’ll never be lazy in collecting information. Got it!”

“I’ll take my diplomatic position and find out.”

“great.”

President Roosevelt’s philosophy.

Have a gentle and gentle conversation, but hold a ‘big club’.

The club of Great Detroit was the role of this Commerce Department.

“Have you already received autographs from the State Department and the Treasury Department? It’s thorough.”

Permission to establish a monopoly company.

signed by the Minister of Finance. It was already signed by the Secretary of State.

crispy – crispy –

Cortellho also scribbled his signature with a pen next to it. Then, I handed it over to the director of the Corporate Affairs Bureau.

“Take him up to the White House.”

“Yes! I’ll be right there.”

All that’s left.

It is the will of the White House.

***

Washington DC

US Capitol.

Presidential podium in the square.

“Everyone, please take a seat.”

Click click! Click click!

Many reporters’ cameras blew their shutters.

President Roosevelt personally appeared on behalf of the spokesperson and stepped onto the podium of both houses of the House of Representatives.

The reporters’ attention was focused on one place.

“Yesterday, I searched the Treasury Department, the State Department, and the newly established Department of Commerce to the White House, and an approval file was uploaded to the White House. It was an approval file that would change the future of the United States and the world.”

In Roosevelt’s hand was a light but luxurious file folder.

“I believe everyone knows what happened yesterday. Federal Steel, which monopolized 60% of US steel, declared aggressive low-cost competition. It is a declaration that it will push prices until there are only three steel companies left.”

The reporters held their breath.

Yesterday, the article was covered in New York, Washington and all over the United States. The American business world was divided into two factions and fought fiercely.

Anti-monopoly law?

Is it US hegemony?

Roosevelt was well aware of it.

“And America is split in two. Anti-monopoly and libertarian confrontation. Monopoly is also part of laissez-faire, who believe that if left unchecked, the invisible hand of the great Adam Smith can save you. “

held my breath

Those words came out of the mouth of Roosevelt, who was no different than the standard antitrust law.

Today, maybe a monopoly could be split. The reporters quickly shook their heads.

“The anti-monopoly logic is clear. If the steel industry is dominated by three companies as it is, would it be right? The tyranny will increase day by day, and since there is no one to compete with, the three companies will work together to raise the price of steel. will be!”

fierce tone.

The reporters got excited and clasped their pens tightly. Are you really tearing it up?

“Steel is the wheat of the industry. Without it, industrialization will starve to death. So, monopoly on steel should not exist. We need to split Federal Steel right away!” he said.

Roosevelt took a deep breath.

The reporters stared intently at Roosevelt’s mouth. Roosevelt chose the horse.

“In conclusion, our White House has admitted that US Steel is a monopoly. They are a monopoly and must be a hurricane that will wreak havoc on the US steel industry. But.”

However.

You have to listen to what people are saying.

“Our White House has decided not to interfere with that monopoly.”

Silence descended.

antitrust law.

A huge bomb fell from Roosevelt’s mouth.

“We, the White House, understand the specifics of the steel industry well. Unlike other industries, it has a deep connection with the national key industry, and we have determined that if the monopoly is properly operated, nothing is more beneficial to the national interest of the United States than this.”

Roosevelt lifted the payment folder.

“Now, this payment file that I mentioned earlier. I will reveal what it is.”

A thick hand opened the payment folder and spread out toward the crowd.

“This is a request for permission to merge with Federal Steel, the No. 1 steel company in the United States, and Carnegie Steel, the No. 2 steel company in the U.S.”

“…!!!”

A horrifying silence fell in the roaring square. The silence, as if there were no ants, represented the astonishment of the current crowd.

Some reporters eventually dropped their pens.

breakage.

The camera also fell.

Roosevelt’s speech was not over.

“Federal Steel has a 60% market share and Carnegie Steel has a 30% market share. Combined, one company will take 90% of the US steel market share.”

“Well, isn’t that a huge monopoly! Isn’t that the antithesis of President Roosevelt’s philosophy!”

Roosevelt nodded.

Not at the antithesis of your own philosophy.

“That’s right. It’s an unprecedented monopoly, and if it’s done, the company’s value is expected to be around $3 billion.”

But the problem is that.

The sovereign wealth fund, as a major shareholder of Carnegie Steel, could indirectly interfere with the management rights of US Steel.

Above all, by acquiring 100% of common stock, it is possible to eat dividends sweetly.

Detroit Morgan, president of the Sovereign Wealth Fund, said.

If it succeeds as a global steel monopoly, its market capitalization could increase tenfold.

‘How can I give up on this? Detroit.’

giant child.

I like it.

Roosevelt smiled inwardly.

“Our White House!”

bang-!

Roosevelt’s hand, the size of a cauldron, smashed the desk so hard it broke.

“We are monitoring the global steel market through the State Department, Carnegie Steel and Federal Steel. I dare say that US Steel, which will be created through the merger of these two, will bring hegemony to this steel market!”

Make America Great Again.

Roosevelt’s slogan.

When the reporters remembered this, they regained their consciousness and focused on Roosevelt.

“How long will we, America, listen to the Yankees and be despised by the European powers? How long do we have to be excluded from their inner circles by listening to these f*cking idiots as second-rate powers!”

this moment.

The crowd gathered in the Capitol Square felt their hearts warm.

The first was anger at the complex.

“It’s time for America to enter the ranks of first-class powers! The United States has acquired a steel monopoly called US Steel, which is a proud American company. And to us, America! The best elites to pay tribute to the global steel market!”

Second.

The aspiration in the crowd’s hot eyes was a yearning for a first-class power.

At the same time, hopes surged that they would be able to enter the ranks.

“We, the United States, have finally obtained the qualifications to become the standard bearers of the Industrial Revolution! The days of struggling as second-rate powers, lagging behind Britain, Germany and France, are now over with the plating age. Now we are! It is time to take a step forward for the era of hegemony! Fellow Americans! Do you want your country to become great!”

boiling public opinion.

The crowd swallowed their hot tears and vomited out their mouths as they pounded their hearts with hammers.

“””wish!!!”””

“Do you want the United States to lead the world by becoming a standard of the Industrial Revolution as the vanguard of hegemony!!!”

“””I want it!!!”””

“Then now.”

Roosevelt looked around the crowd with a burning gaze.

“Now we are joining the ranks of first-class powers with the birth of US Steel.”

bang-!

Roosevelt smashed the podium again.

“Our White House fully supports the merger and acquisition of Federal Steel and Carnegie Steel! We fully support the birth of US Steel, which will become a beacon of hegemony in the American industrial revolution!!!”

“””US! US! US!”””

“””Roosevelt! Roosevelt! Roosevelt!”””

“””STEEL! STEEL! STEEL!”””

“Let’s go together.”

Roosevelt reached out to the crowd.

“Towards a new America.”

“””Waa!!!!””””

A loud roar erupted as if the square was about to leave.

***

“It was an honor to be able to host Deutsche Bank and Philip Holzmann (railroad construction company).”

Essen.

Headquarters of Krupp.

Moltke’s deputy was seeing off the Imperial Railway officials who had come out of negotiations.

However, the executives who came out of the negotiation did not know how to open their eyes with a frown.

“I see, Lieutenant.”

“Yes, sir.”

“It has been over 30 years since I worked at my Deutsche Bank, and 40 years have passed since I was in the finance business in Berlin.

“……”

“But it’s the first time I’ve seen a person like Brigadier Moltke.”

Deutsche Bank’s director frowned.

“Why on earth is he making so many accusations without understanding the imperial railway project? I know that my Brigadier Moltke is a favorite of the Berlin Palace. But why is he so reckless?”

Deutsche Bank’s pouring annoyance.

The deputy recalled the contents of the negotiating table to see what the problem was.

– Do you know that this imperial railway project is a large-scale railway construction project linking Baghdad and Berlin? There must be a shipping cost to transport the steel, isn’t it too expensive? Let’s not dig in the ground and raise steel prices.

– Ttt. Personally, as it is the Berlin Palace business, I would like to try my best to finish it quickly and accurately… Don’t you guys also do banking? Since I’m creating my personal account… I think you know what it roughly means.

– The businesses run by my family are running fairly well. That’s why I’m not saying, can you help me with the Berlin-Baghdad railway project? I’ll speak to my Berlin Palace and the Prussian military.

‘…..shit.’

The lieutenant ruffled his hair violently.

I wondered if Moltke was interfering with management rights, which he was not interested in for some reason these days, but he was getting in the way and was interfering with his work. It got worse after I went to the Detroit president’s social club president.

The lieutenant’s expression was awkwardly sullen.

“I’m sorry… I have nothing else to say.”

“It’s okay. As an imperial citizen loyal to my Berlin Palace, I am thankfully continuing my business under the guidance of His Majesty Kaiser, but today, for the first time, that glorious heart almost shattered.”

Poison followed by poison.

Doachebank, who had a lot of it, had a hot face.

“I am well aware that the Prussian Junkers have their own feet in the business of the Empire. But this is not too bad!”

bang-!

An angry fist smashed a stone wall.

“Those of the Philip Holzmann railway builders from Frankfurt, please tell me. Am I the only one who thinks so?”

“We will only say one word.”

Philip Holtzmann.

A representative construction company in West Germany with headquarters in Frankfurt.

They stared at Moltke’s lieutenant with piercing cold eyes.

“If this continues in the future, we, Holzmann, will formally protest at the Berlin Palace against Krupp’s exclusive right to operate the Imperial Railway.”

The lieutenant’s pupils shook violently.

“Yes?”

Bagdadbahn

Berlin-Baghdad Imperial Railway Project.

It is an imperial core railway project that involves diplomatic relations with the Ottoman Empire, and is the essence of the 3B world policy that the German Imperial Family puts great effort into.

Moltke’s Krupp started to creak from the first shovel.

Woodang-!

“Wow, that’s a big deal!!!”

Then a secretary from Krupp’s office ran madly down the hallway.

He exhaled heavily, as if he was about to die.

Whoops! Whoops! Whoops!

“what happened?”

“Heo Eok! Heo Eok! A big deal… A big deal.”

“Yes, take a deep breath and speak.”

The directors of Deutsche Bank and Holzmann also looked at the secretary with serious faces.

They felt it too.

That there was a major accident that would shake Krupp.

“Federal Steel of the United States joined hands with Carnegie and declared a chicken game! It has monopolized 90% of American steel! It is a declaration of war against the global steel industry!”

“…..!!!”

“Heh Eok…I have a will to continue until 30 years… and I will push the price down to the break-even point first… Declare…

“Wait a moment.”

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One of the Deutsche Bank directors was silent.

“What are you talking about. You. President Roosevelt of the United States is a well-known anti-monopoly. He can’t allow that…”

“Now, what kind of big day are you talking about? If I had, I wouldn’t have jumped like this!”

🥳-

The secretary bit her lip and pushed the outside in front of the Deutsche Bank director.

[President Roosevelt, ‘I fully support the acquisition of US Steel, and the US federal government is fully willing to provide any support it can to this end.’ ]

“That Roosevelt allowed it!”

Moment.

With a shivering shiver throughout the body.

A creepy silence fell in Krupp’s hallway.

“…Oh my God.”

despair looms

***

Federal Steel.

New York Restructuring Headquarters.

“I hope it will come out like this.”

🥳

Heh, I sighed in admiration and folded the newspaper.

“He was a hotter person than I thought. Roosevelt Lee Yangban.”

I smiled bitterly.

“So you’re saying I don’t have a problem with that anymore?”

The chains of the federal government that were fastened to my ankles.

The lock was released.

“It’s exciting!”

Woodduck.

He got up from his seat and stretched out loudly. both arms wide open

“ha ha ha!!!”

It was good.

It was the first time in my life that I felt so liberated.

＜ The roar of monopoly. (3) > end