"Anyway, we have nothing to lose!" Morse immediately stated that he must drag all financial institutions into the water, whether it is trust companies or banks.

As Blair said, people like Heinze and Morse are still listening to what they say now because the heat is still there, but after a few days they can no longer speak. No one will believe a banker whose bankruptcy is a foregone conclusion.

The tragedy of Heinze firing off the last bullet can only move himself, but no one else.

"Well, he has the domineering attitude of a financier." Sheffield praised into the microphone with a smile on his face, "In fact, the Knickerbocker Trust Investment Company collapsed on its own, and the market that was vacated was far from enough. Other trust companies should not let go either.

In one breath, those bankers are obviously targeting all trust companies. This is a battle between banks and trust companies. But this is only what the bankers think. In the eyes of the citizen class, they do not need to distinguish between banks and trust companies.

But all financial institutions, it’s just a question of who comes first and who comes last, they can’t escape.”

Bankers think this is just a problem for trust companies, and that's just what they think. Citizens don't think so, which explains why the crisis still affects the banking industry, but for Sheffield, it doesn't matter. The financial crisis broke out

, it will eventually be transmitted to the real industry, but it will definitely be the last to be affected.

For Heinze and Morse, an acquisition fee of one million US dollars was definitely not a huge amount of money for them originally, but now they have no choice, and once the crisis spreads across the country, it will

As the slave owners said, maybe one million US dollars in cash, acquired stocks, and property rights will allow them to regain their strength when the economy returns to normal. So if someone writes a check and everything goes wrong, why don't they agree?

When the Knickerbocker Trust Investment Company is in greatest need of support, the New York Clearing Center will stop providing liquidation services to the Knickerbocker Trust Company due to the chaotic management of the Knickerbocker Trust Investment Company. This move is tantamount to adding insult to injury and directly causing

Knickerbocker Trust and Investment Company became the first victim of the run. However, as the currency panic got out of control, the run spread from trust institutions to banks and spread across the country. Even mainland banks began to withdraw funds from New York.

, causing a tight money supply in New York, and the National Bank, as the central reserve bank, was generally in trouble.

Historically, after this crisis, trust companies lost nearly 40% of their deposits, while the deposits of the National Bank of New York increased by 8%. The reason for this situation was mainly because trust institutions in order to cope with the run

, they had no choice but to borrow money from the National Bank at high interest rates or sell assets to the National Bank. Some depositors would also transfer their deposits to the National Bank after withdrawing their deposits from the trust company. "Due to the run on depositors, the assets of the trust institutions and the financial market have sharply

While the deposit business of National Bank has shrunk, the deposit business has relatively increased.

Killing the trust companies and allowing New York bankers to grow was the result that Wall Street hoped for until Morgan came back to rescue the market. But in fact, Sheffield remembered that the run eventually spread across the country, which shows that Morgan's rescue was only for New York's banking industry.

Useful, or in other words, he only wanted to save the banks in New York.

Heinze and Morse chose to go all out to expose the darkness of Wall Street. Sheffield agreed with both hands, so they should die together, and they should die together. This is the characteristic that a financial giant should have.

"I'm just waiting for the good news over there!" Sheffield hung up the phone with satisfaction. Morgan wanted the trust company and other banks to collapse. In the financial industry, New York bankers were the dominant one, so he adopted that rescue method.

The slave owner's side is simple. He hopes to be fair. New York bankers, like banks across the country, all went bankrupt. We are all bankers, so don't distinguish between 3, 6 and 9. It's fair if they all go bankrupt.

"William, what do you want?" Edith Rockefeller had never seen Sheffield anxious before, but she was not anxious even in the face of this situation. Isn't it a bit abnormal, "If this continues, many banks may go bankrupt.

"

"Is it just bank bankruptcy?" Sheffield tilted his neck and asked, "A bank's reserves are already a very healthy situation if its reserves are one-quarter of the depositors' deposits on the books. Many are 5%, which is

It is said that if a good bank is run and goes bankrupt, three-quarters of its depositors will lose all their money, and a bad bank will make 95% of its depositors bankrupt. Haha, I don’t know how many people will jump off the building."

"That's really a tragedy, so terrible." Even Edith Rockefeller was so frightened that she lost her voice when she heard this ratio. "You expected this kind of result?"

"It's just a matter of whether the whole country is like this except New York, or whether everything including New York is like this." Sheffield said expressionlessly, "It's not about having expectations or not. I am a slave owner. In the eyes of slave owners, there is only

Slaves, as for the skin color of slaves, sometimes it is necessary to distinguish, but most of the time there is no need to distinguish. Citizens should be considerate of the country's difficulties. Isn't it right to sacrifice for the country? Have you never learned the theory of evolution?"

According to the normal development of this crisis, if there is no interference, Morgan will arrive in New York as soon as late October. After half a month's voyage, he will return and join forces with New York bankers to save the United States. However, Sheffield believes that it will be possible to see the outcome within October.

Missing is this banker who appears to be semi-retired but actually has never left.

The pace of toppling dominoes in the country will continue to accelerate, and the run will spread throughout the country as much as possible. This requires the power of the media. A free country should be open and transparent, and the truth should not be told.

Why did Morse and Heinze help them when they were destined to disappear from everyone, and even offered to pay to acquire their shares, even though this was an out-and-out robbery. Robbery and help do not conflict, and it can be regarded as robbery-style help.

.

Without slave owners, their banks would be liquidated, and the stocks in their hands would turn into junk and be delisted. It is better to hand over your hands to the slave owners now in exchange for a little breathing space.

The purpose of helping these two people was to make this Wall Street civil war public to the public at a time when the Knickerbocker Trust Investment Company had just collapsed and was still attracting huge attention, and to bring out the dirty deeds of bankers in the dark.

Why do we do this? The advantage of this is that we can determine the nature of the matter in advance before the run spreads across the country. By then, most depositors will be able to get angry at the Wall Street bankers because the bank went bankrupt and lost all their money.

Already.

Before the crime was even committed, the slave owner was already ready to take the blame and let Wall Street take the blame first before he could go out and rob. Anyway, all this is true and not a slander.

Newspapers everywhere have received orders to prepare for reprinting. According to the time difference, the time difference in California is six hours later. They have set a time to prepare to reprint the New York Daily News' reprint of the run incident.

Less than 12 hours after the Knickerbocker Trust Investment Company went bankrupt, Heinze and Morse took the initiative to show up, hoping to get an exclusive interview with the New York Daily News. From the outside, this was very normal, and the New York Daily News' response was very normal.

, because the bankruptcy of the Knickerbocker Trust Investment Company received huge attention.

When Heinze was interviewed by reporters, he dropped bombs one after another, pointing out that the run was caused by a sniper attack from his competitors. He also said, "The reserves of Knickerbocker Trust Investment Company are no greater than those of any trust."

The reserves of companies and banks are low. The reserves of other trust companies and banks are also very low, and the liabilities are horribly high. This is the current situation in the banking field. Because the current situation is like this, when the United Bank calls on all banks to join forces to cut interest rates, many

The bank's mouthpiece accused United Bank of destabilizing the market by saying that the bank's statement was damaging."

"Do all banks and trust companies have huge debt ratios? The funds in them are not enough for a run?" the reporter asked solemnly, "Is this really the case?"

"Many banks are just empty boxes, and Heinze and I's bank is considered very healthy." Morse said decisively, "Crisis will occur sooner or later, but some banks choose to let trust companies bear all this. Now for all

The run on big trust companies is a conspiracy."

The next morning, a special report called The Truth on Wall Street was sold in the streets of New York. The newsboy shouted in a childish voice, "The banking industry has fallen into crisis. The cause of the run is the civil war on Wall Street. Morse and

Heinze, accusing other banks of setting traps for trust companies."

Under this kind of hawking, New Yorkers stopped and bought a newspaper one after another. They saw the figures above. The reserves of many banks were less than 5% of their accounts. The banking industry was already in deep crisis.

If so, everyone who sees it can't help but take a breath of cold air.

The rush of depositors at the entrances of major banks had not dispersed in the first place. The New York Daily News' report only added fuel to the situation. The desperate long queues and anxious-looking depositors seemed to have caused major banks to panic.

Seeing hell coming, the depositors who usually regard them as gods appeared at the same time, but many banks felt that they had never felt so disgusting.

Nowadays, runs are not limited to trust companies. No matter what bank it is, there is a long queue 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. Now
Chapter completed!