Chapter 465: National run

"Anyway, we have nothing to lose!" Morse immediately stated that he must pull all financial institutions into the water, whether it is a trust company or a bank.
As Blair said, people like Heinzer and Morse still talk, because people are still listening, but after a few days, they are no longer able to speak. No one will believe a banker who is bankrupt. Heinze's tragic glory at the last bullet can only touch himself, and no one can touch him.
"Okay, there is a dominance of financiers." Sheffield smiled and praised the microphone. "In fact, Nick Burke Trust and Investment Company fell down by itself. The empty market is far from enough, and other trust companies should not be loose. In a breath, those bankers obviously came to all trust companies. This is a battle between banks and trust companies. But this is just what bankers think, and in the eyes of the citizens, they do not need to distinguish between banks and trust companies. It's all financial institutions, it's just a matter of who comes first and who can't run away. "
Bankers think this is only a problem for trust companies, and this is just what they think. Citizens do n’t think so, so they can understand why the crisis has spread to the banking industry, but it does n’t matter to Sheffield. The outbreak of the financial crisis will eventually be transmitted to the real industry, but it must have been affected in the end.
For Heinze and Morse, a one-million-dollar acquisition is not a huge sum for them, but now they have no choice, and once the crisis spreads across the country, As the slave owner said, maybe a million dollars in cash, acquired stocks, property rights, and so on when the economy returns to normal, let them restore their strength, so someone wrote a check and died, why don't they agree?
At the time when Nick Burke Trust & Investment was in the most need of support, the New York Clearing Center, with the chaotic management of Nick Burke Trust & Investment, would stop providing liquidation for the trust company. This move is tantamount to falling into the ground, directly causing Nick Burke Trust and Investment Company to become the first victim to fall under the running tide. However, due to the currency panic that has lost control, the run of money has spread from trust institutions to banks and has spread to the whole country. Even mainland banks have begun to withdraw money from New York, which has caused tight money supply in New York and the National Bank as a central reserve bank has also generally fallen into. Dilemma.
Historically, after this crisis, trust companies lost nearly 40% of their deposits, while the National Bank of New York's deposits increased by 8%. The reason for this is that the trust institutions can only borrow from the National Bank at a high interest rate or sell assets to the National Bank in order to cope with the run, and some depositors will also transfer to the National Bank after withdrawing deposits from the trust company. "Due to the run by depositors, the assets of the trust institutions and the financial market have shrunk sharply, and the deposit business of the National Bank has increased relatively.
Killing the trust company and allowing New York bankers to grow is the result of Wall Street's hopes, until Morgan comes back to rescue the market, but in fact Sheffield remembers that this run eventually spread across the country, which shows that Morgan's rescue is only for New York's banking industry. Useful, or he just wanted to save New York banks.
Heinze and Morse chose to work hard to expose the darkness of Wall Street. Sheffield raised her hands in favor. They should all die together, and they should be killed. This is the trait that financial giants should have.
"I'm waiting for the good news over there!" Sheffield hung up the phone with satisfaction. Morgan hoped that the trust company and the banks in other places would go bankrupt. The New York banker is the only one in the financial industry, so he adopted that kind of bailout.
The slave owner's side is simple. He wants to be fair. New York bankers, like banks across the country, are closed. Everyone is a banker, so do n’t distinguish between three, six, nine, etc., it ’s fair to go bankrupt.
"William, what the do you want?" Edith Rockefeller had never seen Sheffield anxious, but even if she was not anxious about this situation, would it be abnormal, "There might be a lot of bankruptcy in this way. "
"Is it just the bankruptcy?" Sheffield asked, tilting his neck. "A bank's reserve has a quarter of the book depositors' deposits, which is already very healthy. Many are 5%, that is, He said that after a good bank is run into bankruptcy, three-quarters of the depositors will lose their lives. Almost a bank will make 95% of the depositors bankrupt. Haha, I do n’t know how many people will jump.
"That was really a tragedy, it was terrible." Even Edith Rockefeller was terrified when he heard this ratio. "Do you expect this result?"
"It's nothing but the difference between the whole country except New York, or whether it includes New York." Sheffield said blankly. "There's nothing to expect or expect. I'm a slave owner. The slave owner's eyes are only Slaves, as for the skin color of slaves, sometimes need to be distinguished, most of the time do not need to be distinguished. Citizens should understand the difficulties of the country, should n’t it be the case to sacrifice for the country? Have n’t you learned the theory of evolution? "
With the normal development of this storm, without interference, Morgan will arrive in New York as soon as possible in late October. After a half-month voyage, he returned to join the New York bankers to save the United States. However, Sheffield believes that the banker who has never retired from the bright side and has never actually left in October cannot be seen.
The domestic speed of overthrowing dominoes has to be accelerated, as far as possible to promote this run to spread throughout the country. This requires borrowing the power of the media. A free country should already be open and transparent, and it is not allowed to tell the truth.
Why did Morse and Heinze dominate them when they were doomed, and they were even willing to pay for their shares, although this was also a complete robbery. Robbery and help do not conflict, can be regarded as robbery help.
Without a slave owner, the two banks will be liquidated, and the stocks in their hands will fall into trash and be delisted. It might as well be handed over to the slave owner now in exchange for a breathing space.
The purpose of helping the two is to let the two publicize this Wall Street civil war and put the bankers' ills in the dark when the Nick Burke Trust and Investment Company just closed down and there is still a lot of attention.
Why do you want to do this? The advantage of this is that you can determine the nature of this matter before the run spreads across the country. By then, most depositors will be angry at Wall Street bankers because of bankruptcy. Too.
Before the crime was committed, the slave owner was ready to dump the pot. Let Wall Street connect the black pot firmly before he went out to rob. Anyway, all this is true, not slandering.
Newspapers everywhere have received orders to reprint, according to the time difference, California's time difference is six hours later, set a time to reprint the New York Daily for this run-off reprint.
When Nick Burke Trust and Investment Company went bankrupt within less than twelve hours, Heinzer and Morse took the initiative to make an appearance, hoping to get an exclusive interview with the New York Daily News. , Because of the bankruptcy of Nick Burke Trust & Investment Corporation has received tremendous attention.
In the face of the reporter ’s interview, Heinze continued to throw bombs, pointing out that this run-off was hit by competitors, and also said, "The reserve of Nick Burke Trust and Investment Company is no more than that of any trust. Companies and banks are low, other trust companies are as low in reserves as banks, and their debts are terrible. This was originally the status quo in the banking field. Because the status quo is so, when United Bank called on all banks to jointly cut interest rates, many The mouthpiece of the bank accuses Union Bank, saying that Union Bank's claims are destroying the market. "
"Does all banks and trust companies have huge debt ratios? The funds inside are not enough to run?" The reporter asked solemnly, "Is it true?"
"A lot of banks are just an empty box, and the banks of Heinze and I are very healthy." Morse said categorically. "Crisis will come sooner or later, but some banks choose to let trust companies bear all this. The run by the big trust company is a conspiracy. "
The following morning, a special report on the truth called Wall Street was sold in the streets of New York, and the newsboy shouted in a childish voice, "The banking industry is already in crisis. The reason for the run is because of the civil war on Wall Street, Morse and Heinze accused other banks of setting traps against trust companies. "
Under such selling, the people of New York stopped and bought a newspaper. They saw the figures above. Many banks have less than 5% of the reserves. The banking industry is already in crisis. If you see it, you can't help but see a cool breath.
The depositors running at the gates of major banks have not dispersed. The report of the New York Daily News made the situation even worse. Desperate long lines and anxious depositors seem to let major banks Seeing the arrival of hell, the depositors who were usually regarded as God appeared at the same time, but many banks felt that they had never felt so disgusting.
Now the run is no longer limited to trust companies, no matter what kind of bank, there is a long line at the door, everyone does not go to work, but to protect the safety of their property, the banker ’s words are just a placebo, It was completely useless. From New York to Los Angeles, from Boston to New Orleans, this run-up storm began to spread across the country, and no one can stop this run.