Chapter 480: United America

How to announce the role of the federal government? You have to know that Roosevelt has to use executive power. The three have already prepared the rhetoric for this. Such a financial system has two crucial characteristics, and these two characteristics may become the root cause of the financial crisis. First, the existence of a system means that difficulties can be transmitted. The difficulties of a financial intermediary can spread to other financial intermediaries.

Second, the complexity of the financial system means that it is difficult to obtain information about all the participants in the financial system. Complexity makes it difficult to understand what is happening and to understand the connections between things, which is what allows the crisis to spread.

Since the financial system is too complicated, we need to make it more transparent. The scope of transparency, of course, is the small banks spread across the country. These small banks make the financial system complicated and are the culprits of the financial crisis.

Now that they have begun communicating with the federal government, it would be inappropriate to say that the federal government is the culprit for the financial crisis. The three Sheffields also need to unify their rhetoric and find a new scapegoat, anyone, as long as it's not them.

Once the small and medium-sized banks across the country go bankrupt, the vacant market will become the driving force for the growth of the three parties. Only then will everyone have a good life, and this good life will at least last until the next crisis breaks out.

For this reason, Morgan Jr., Rockefeller Jr., and Sheffield happily decided that these small and medium-sized banks were the main cause of the financial crisis, not the federal government as previously mentioned.

"We changed our attitude because President Roosevelt calmly admitted his mistake after careful discussion." Sheffield bit his cigarette butt and took two puffs. He took the initiative to speak up, which was to give President Roosevelt a way out. This can save the face of both parties. The big companies are not wrong, the federal government is not wrong, and it can only be the small and medium-sized financial institutions that are wrong.

President Roosevelt fell into deep thought, trying to think of other solutions, but no, there really was none! Only the three people on the other side had the financial resources to restore confidence in the entire domestic market.

However, the demands made by the three people were unprecedentedly excessive. They used administrative power to interfere with the economy and close down banks across the country. This was a step further than using antitrust laws to deal with large companies. Even Roosevelt himself had never thought of this, but the three people on the other side actually thought of it.

"These are the big corporations that keep saying they want to put public power in a cage." Roosevelt's words were full of mockery.

"The key lies in who holds this public power. Anyway, I believe that the federal government serves the most important companies in our country." Sheffield said bluntly, "As long as it doesn't target us, it's a very good federal government. If it is an enemy of big companies, no matter how many good things the federal government has done, it is bad. How much money can the federal government give us to rescue the market? Tell us a number and see if it's enough for us to share."

"The federal government still has 30 million in national public funds. I know exactly where this money comes from." Morgan Jr. raised his eyebrows from the side. He knew very well how much wealth the United States had now.

"Thirty million dollars is not a lot, right? That means each of us has ten million dollars, which is a lot. Standard Oil only has one million dollars on its books." Rockefeller Jr. seemed to have let something slip, but he smoothed it over. "The economy is bad now, and big companies are having a hard time. I don't think the government will ask us to use the interest on this money."

"How could the federal government compete with private enterprises like us for profits? There will definitely be no interest." Sheffield echoed the sentiment and said it directly, there will definitely be no interest.

The three of them seemed to be suddenly inspired by the spirit of being masters of the country in the sacred White House. They were happily discussing the rescue plan and had already opened their gluttonous mouths, ready to swallow up the high-quality assets on the list.

Even Alice Roosevelt, who had been paying close attention, couldn't stand this disgusting attitude, but this time she didn't come out from behind the porch, because she knew her father would fight back.

"I wonder what you three want in exchange for what they want from the federal government." As a strong president, Roosevelt would never suffer unilaterally. He had made up his mind that even in exchange, he would not let these three disgusting bastards take unilateral advantage.

Before coming to the White House, the three had discussed this matter and knew that it would be very difficult for a president like Roosevelt to comply, so they had to give the federal government a suitable reason to cooperate. It could not be like what they had said before, that the federal government was the source of all crises.

That's why in the end small and medium-sized banks were pushed out as scapegoats. Rockefeller Jr. did not take the opportunity to get back the more than 20 million unpaid fines. This was also impossible. Sheffield himself also had his own way of exchanging.

The three of them were not surprised at all by President Roosevelt's request. Starting with Morgan Jr., they spoke up one after another, "Like I said, it was the chaos in the financial institutions that led to the crisis. Combined with the previous problems, I invite the federal government to demonstrate its authority and close all banks across the country. At that time, I will announce to the public that all of these banks that have disappeared from the country are insolvent and can no longer open after liquidation."

"After this crisis, Standard Oil will pay a fine to the federal government." Rockefeller Jr. said with a cold face, "The citizens like to see the rich get into trouble. I can give them such an opportunity."

"As for the United Corporation, I will dissolve the canned food trust and the beef trust after the crisis." Sheffield then gave his own guarantee. With the establishment of the United Grain Company of America, these two trusts can withdraw from the market, and their members can appear as grain traders in the future and be tied to the United Corporation.

The three men proposed to admit that financial institutions were the root cause of the financial crisis, pay a huge fine, and take the initiative to dismantle the trusts. After hearing this, President Roosevelt finally breathed a sigh of relief.

If there were any other way, President Roosevelt would definitely not accept the blackmail of the three bastards, but there was really no other way. This time he had to temporarily endure the devil's blackmail, just for the glory of God to finally come.

He was just comforting himself. In the eyes of the three Sheffield people, after this crisis, the advantages of large enterprises would be further consolidated. Compared with the losses they would suffer if they admitted their mistakes, accepted the penalties and dissolved the trust, the profits they would soon gain would be truly unimaginable.

On the surface, Sheffield's concession was the biggest and most sensational, a sacrifice made entirely for the sake of the overall situation, the joint rescue of private enterprises and the federal government. Of course, ordinary citizens may not have this awareness and realize this, but it doesn't matter. The slave owners are ready to let their newspapers brag about their own situation.

If you do things without marketing, then it would be a waste of time. The Republic has already recognized those who make a fortune in silence, but it is different in the United States. Since you are saving the market, you must be treated as a savior, otherwise it is better not to do it.

After laying out the terms of exchange between the two sides, the next issue becomes details. From the sharp confrontation at the beginning to sitting together in the end, the question of who is the winner is, for the sake of Alice Roosevelt, the slave owner is willing to admit that he is the loser on the surface.

Sheffield no longer even cared about the specific details. All he wanted now was for Alice Roosevelt to use her unique tenderness to soothe his wounded heart and fallen body.

While others were happily preparing to rescue the market, Sheffield was distracted, thinking about what was to come. For example, after the crisis, would Roosevelt seek a third term? Normally, he would not, but what if the president was just lip-service? He would have to discuss this with J.P. Morgan and Rockefeller. If that was the case, it would be best if Roosevelt could not pass the primary election.

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Strictly speaking, Roosevelt only had one year left in his term. After the New Year, it would be the election year. The national election and midterm elections were held every now and then, which made the slave owners very upset. Let's not talk about the Republicans first. Even if it was their turn, it should be the Democrats' turn, so that they could have a taste of the wonderful collusion between officials and businessmen.

He was less than 20 years old the last time the Democrats came to power. Now he is almost 30. How many decades of his life can he waste?

The slave owner took the opportunity to relieve himself. He had seen the little head behind the porch several times. When others were busy rescuing the market, he came out to get some fresh air. "Stop it, this is the White House, there are so many people!"

Seeing that the man was about to hold her head and bite it, Alice Roosevelt was the first to angrily denounce this behavior. She still didn't dare to let herself go in the White House and asked about the progress of the matter.

"It should be about the same. On the surface, I suffered the most by dismantling two corporate trusts." Sheffield said, then changed the subject and stared into Alice Roosevelt's eyes and said, "If it weren't for you, I wouldn't have done it at all. Even if the trusts are not dismantled, the goal can still be achieved this time. Forget it, you only remember the image of me and them as two greedy capitalists."

"They are both really greedy. You are still a man of integrity, but sometimes you speak without thinking." Alice Roosevelt was busy comforting them. The two trusts successfully made Alice Roosevelt forgive the slave owner's slip of the tongue. At least this man was sincere to her.

"Now it seems that there is some reward." Sheffield nodded tacitly and returned to the negotiation site. In times of crisis, private enterprises and the federal government face it together and must present a united image of the United States to the outside world.

It was so heartbreaking that anyone who heard about it would cry! On that day, the White House spokesperson officially announced that the meeting had produced very good results, and the specific content would be announced later.

(End of this chapter)