Chapter 309 Attacks from Other Consortiums

There is no wall that is impenetrable.

What's more, Milo's efforts to win over and form an alliance with Texans and Californians are being carried out openly.

Others are not NPCs who only know how to cooperate.

They also have their own ideas.

Also has its own actions.

When I heard Milo Blackburn was trying to unite Texans and Californians.

When we want to create a "New America".

Washington was not in a hurry yet, and Morgan and Rockefeller had not reacted yet.

Mellon Group reflects unknown.

The Chicago consortium was the first to jump out.

"Okay, let's stop discussing the Wilson family's affairs for now."

Chicago.

It is the third largest city in the United States and one of the largest financial centers in the world.

It has many high-rise buildings and is known as the hometown of skyscrapers in the world.

When Chicago became world-famous, New York was just a small town that relied on factory owners to develop.

But times have changed.

Today, Chicago has fallen from the largest city in the United States to the third largest city.

Just like the Chicago consortium is destiny, they were once the most powerful consortium in the United States.

Now they can, to some extent, demonstrate the subordination of Rockefeller and Morgan.

It’s just that the autonomy is relatively high.

Coster Crown looked at the people in front of him and said, "The targets we wanted basically fell into the hands of Bostonians. Especially Milo Blackburn, he got the most."

"Why the Wilson family would do this is unclear to us."

"I think we should face this problem head on."

"My opinion is that you can't give up easily!"

After these words were spoken, the other people looked solemn.

The Kron family is a rising star among the core families of the Chicago consortium.

This consortium was originally formed by the local wealthy McCormick family and the Wood family.

Later, with the support of Morgan and Rockefeller, the Crown family, which was originally one of their vassal families, came from behind and took the lead.

Relying on being Morgan's largest tentacle in the Chicago consortium and having the support of the Morgan consortium.

The Crown family is one of the leaders of the Chicago consortium.

Basically, his words also mean the attitude of Morgan or Rockefeller.

Everyone present knew it very well.

Kenneth of McCormick and Douglas of the Wood family looked at each other.

Kenneth McCormick asked, "Coaster, do you mean to fight the Bostonians?"

Coster Crown said without hesitation: "That's right!"

"The Bostonians took our prey so easily. We can't just let it go."

"Just think about it, from the moment they took over, Boston became our most direct competitor."

"They have full control over Litton Industries and Northrop Corporation, which are the arms-industrial complex that we lack and have always wanted."

"Especially Litton Industries, which competes with our International Harvester and crawler tractor companies for business."

"If we don't take a stand, they will definitely push their own limits and squeeze our voice and market."

"Why not fight them while they are still struggling to gain a firm foothold? Let the people of Boston know how powerful we are."

“Even if we fail to buy these companies in the end, it will at least deter Bostonians from acting recklessly in the future.”

Ron Sears said without hesitation: "I agree with Coster. We really can't just let it go. We must make our position clear."

Ron Sears is the descendant of Ron Sears, the founder of Sears Company.

The Sears family was once the core family of the Chicago consortium.

But later it fell into decline and most of the shares were lost.

Gradually they became vassals of the Kron family.

There was no need for Coster Crown to signal anything after he made his attitude clear.

Ron Sears jumped out and charged: "You know, this time the California consortium got into trouble. We were the first to jump out, but we have gained nothing so far!"

“We have to do something.”

"Otherwise, our Chicago consortium will become a laughing stock."

"The Boston Consortium was defeated by us before, but now they are aggressive. If we don't do anything, they will trample on our heads!"

If the Boston Consortium is the first large-scale and systematic American consortium composed of chaebol families.

The Chicago consortium is the second one.

So before Morgan, Rockefeller, Mellon and others appeared.

The most intense fight was between the Boston Consortium and the Chicago Caitang.

However, both are now somewhat weak, and the Chicago consortium has become a subordinate of others.

If Blackburn had not emerged, the Boston consortium would probably have suffered the same fate as the Chicago consortium.

We agreed that we two brothers would sink together and stay at the bottom together, but now, Fuck the Shet, you are about to get ashore.

If anyone is unhappy, envious, jealous or resentful of the Boston Consortium's resurgence.

The Chicagoans, who were once brothers in distress, are probably the most unhappy.

Kenneth and Douglas looked at each other and nodded in agreement.

In addition to the Chicago consortium doing this, there is a high probability that it will get help from Morgan and Rockefeller in the end.

Also because they were indeed unhappy with what the Bostonians had gained this time.

"So what should we do?"

Kenneth McCormick took the initiative to ask Coster Crown: "The Bostonians are behind now, and they may be able to get some help from Texans and Californians."

"Well~" Coster Crown shrugged and spread his hands. "If Californians can unite, there will be no problem between us and Bostonians."

“As for the Texans…believe me, they can only fight with the wind in their favor, they are still waiting and watching!”

Douglas and Kenneth nodded again.

As for Milo Black's desire to create a "New America", the so-called big triangle.

Almost everyone is pessimistic.

The interests of so many families and so many companies are being compromised. Even Morgan and Rockefeller can't handle it! Can the weak Bostonians be dealt with even if a strong leader emerges? Not to mention the division of Californians. Although Texans are independent on the surface, there are too many Rockefeller colors behind them.

This cannot be accomplished easily.

Coster Kron suggested to everyone: "We can try to get Blackburn Financial Company, or Blackburn Bank, to spit out the company it swallowed first!"

Everyone immediately perked up and looked at him intently.

Coster Kron said slowly: "Although we don't know how much money Blackburn Bank spent, we can estimate the approximate amount!"

"According to our original assessment, both Litton Industries and Northrop are worth more than $12 billion."

"Chevron Oil is worth more than $25 billion."

"California Electric is worth nearly six billion dollars."

"Even if the Wilson family does not sell at a premium, Blackburn Bank will need to spend at least 30 billion US dollars to fully take over the shares held by the Wilson family!"

"At the same time, Blackburn Bank also took over a large amount of assets from the Wilson family. We conservatively estimate that these assets are worth more than 10 billion US dollars."

"So we can estimate that Blackburn Bank has taken out at least 40 billion US dollars!"

"This amount of money accounts for one-third of Blackburn Bank's assets!"

"One third of the liquid funds, this ratio is exaggerated to the point of being terrifying. Under normal circumstances, any bank of a consortium would not maintain such a high liquidity ratio."

"So can we guess that Blackburn Bank's capital chain is now tight?"

At the end of his speech, Coster Crown showed a sinister expression on his face.

Everyone else woke up in shock.

If you think about it carefully, this is really possible! "But I have a question." Douglas Wood said softly: "It is impossible for the First National Bank of Boston and other Bostonians not to provide funds. This is the action of all Bostonians, not just Milo Blackburn."

"Yes, Douglas, you are right." Coster Crown smiled. "But what if I say that when we start to take action against Blackburn Bank, Boston's banks and insurance companies will also be targeted?"

“We’re not the only ones upset with Bostonians!”

Coster Crown looked at the crowd and said, "No one wants to see Boston succeed."

When Kenneth and Douglas heard him say this, they immediately understood.

There is a high probability that Morgan, Rockefeller, Mellon and others will pull the Bostonians and Texans behind the scenes when the Chicagoans take action.

It is even possible that Morgan and his team actually wanted the Chicagoans to charge first.

Just like what happened to Canada last time.

"If that's the case, then we're causing trouble for Blackburn Bank, and maybe Blackburn Bank will spit out the assets it has taken in."

"We may even be able to get our hands on Blackburn Bank!"

Kenneth McCormick stroked his beard, and the more he analyzed, the bigger the smile on his face.

There’s more to Chicago than just Chicago.

There are also Morgan and Rockefeller, and even Mellon.

Then McCormick was really interested.

“If Blackburn Bank has problems, the Boston consortium will definitely be nervous.”

"We don't know how other financial groups will react, but Morgan and Rockefeller will definitely not miss the opportunity to strike at the Boston financial group."

"After all, the resurgence of the Boston Consortium has seized too many of their interests!"

In fact, Blackburn Bank does not always have more than $40 billion in liquid funds.

Previously, we went long on currencies such as the Japanese yen and the British pound, and shorted international crude oil, and the funds entering the market were basically the principal.

The main purpose is just to preserve the value of funds.

However, this time, in order to take over the Wilson family's assets, they withdrew the funds in a short period of time and sought cooperation with other financial companies in the form of leveraged financing.

However, these businesses are relatively secretive, and partners will not publicize them, for fear of ruining their reputation and causing no company to dare to cooperate with them in the future.

Of course, Coster Kron and others were not clear about it.

And Blackburn Bank has acquired so many banks over the years.

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Blackburn Bank transferred all the assets originally held by the acquired banks to the bank's asset management department.

Milo had discussed Blackburn Bank's plans in detail with his advisory team, and the latter has been implementing them.

Therefore, over the years, non-performing loans have been sold at low prices to stop losses in a timely manner, while some lending partnerships that have no strategic significance have their loans reclaimed after they expire and will not be renewed.

Blackburn Bank's funds are mainly used to provide consumer loans and small loans to individuals, and then to provide financial support to companies under the Boston Consortium.

Before I knew it, just over two years had passed.

It has become the dual financial core of the Boston consortium together with the First National Bank of Boston.

This is also the main reason why Milo Blackburn is naturally regarded as the new leader of Boston.

In addition, he can lead everyone to discover new gold mines in the fields of media and the Internet.

As well as entering and exiting the energy field that the Boston consortium has never been able to touch before.

The most important thing is the existence of Blackburn Bank.

It directly gave the weakened Boston consortium a new heart besides the First National Bank of Boston.

Moreover, this heart-related area is not limited to the New England region and will not compete with the First National Bank of Boston.

It is based on the Boston Consortium's original 1.6-liter naturally aspirated engine.

A hybrid motor with its own large battery was added.

The Boston consortium has transformed its old fuel vehicles into new energy hybrid vehicles that are fuel-efficient, have long driving range and have superb acceleration.

People have long been eyeing Blackburn Bank because it would be great if they could gain control of, or even just influence, this newly emerging banking group.

That would not only give Milo Blackburn something to hold against him, but would also indirectly affect the Boston consortium.

It’s the best of both worlds.

However, most of the companies that Blackburn Bank participated in investing in were companies with great potential that Milo had discovered.

Without any mergers and acquisitions, these companies can generally form a virtuous internal cycle by simply providing the initial expansion funds.

So it is difficult for outsiders to intervene.

In order to prevent its funds from being idle, Blackburn Bank invested a lot of funds in its asset management department to increase asset investment profits.

It is involved in futures, stocks, bonds, etc.

This time, in order to take over the assets of the Wilson family and the California consortium, Blackburn Bank sold a lot of funds in advance and recovered a lot of funds.

Of course, there is no need to announce these operations to the public.

Therefore, this led Coster Crown and others to misjudge that Blackburn Bank's capital chain was really tight!

The Chicago people's methods were simple, crude and crude, but very effective.

That is to let the media question Blackburn Bank's capital chain problems and directly make the matter bigger.

This caused panic among depositors and put Blackburn Bank at the center of controversy! After all, banks in the United States have been failing since the collapse of the Bonham Plaza Bank in 1982.

The collapse of Continental Illinois Bank, one of the top ten banks in the United States, by Chicagoans twelve years ago pushed the bankruptcies to a peak, triggering a series of adverse effects:

It was also at that time that several core families of the Chicago consortium lost complete control of the consortium.

In particular, the failure of Ohio's savings and loan institutions in May of this year ultimately resulted in a loss of $185 million to the Ohio Deposit Insurance Fund and taxpayers.

Less than a month later, several banks in Maryland went bankrupt, which directly led to the bankruptcy of the Maryland Deposit Insurance Fund!

The banking situation in other states is also relatively corrupt.

As a result, the Federal Savings and Loan Insurance Corporation's original insurance fund of more than 20 billion US dollars is now reduced to only 4.6 billion US dollars.

So much so that George, chairman of the Federal Savings and Loan Insurance Corporation, is currently trying to gain support in Congress for a capital injection for the company!

Therefore, the nerves of many depositors have long been tense.

It is true that over the past decade or so, banks that would never have gone bankrupt before have been going bankrupt at a rapid pace.

At its peak, there were more than 15,000 banks in the United States, but now there are only more than 8,000 left.

Fuck the Shet, it went bankrupt and I can’t even withdraw my money.

Who wouldn’t be nervous?

Early in the morning of August 15th.

The Chicago Courant, the largest newspaper in the Chicago area, published a news article questioning the huge operational risks of Blackburn Bank.

The report is not groundless, but seems to be well-founded.

The report also listed a series of recent acquisitions by Blackburn Bank, which consumed as much as 40 to 50 billion US dollars and had very chaotic asset investments.

Moreover, Blackburn Bank, the seventh largest bank in the United States, is still not listed. The author questions the operating conditions of Blackburn Bank...

The entire article is written in a tone of deep concern for the country and the people, and is extremely inflammatory and infectious.

That morning, many readers in Chicago were bewitched after reading the newspaper.

Some relatively cautious depositors or companies began to apply to withdraw funds.

The newspaper's reporters also took special photos of a crowded scene at a Blackburn Bank branch in Chicago.

That evening, the Chicago Evening Post put the photo on its front page and wrote extensively about the phenomenon.

At the same time, some newspapers outside Illinois also reported the news under artificial promotion.

And in order to avoid responsibility as much as possible, these evening papers cleverly reprinted the reports directly from the Chicago News.

This set of little actions is done.

Things quickly escalated!

In fact, when the Chicago Courant reported the negative news about Blackburn Bank, the branch manager in the Chicago area reported the news upward.

At around 9 a.m. on the 15th, Hector Cabrera, president of Blackburn Bank, received the news.

Yes, Hector became the president of Blackburn Bank last year.

When the Boston Consortium opened itself up to welcome Milo's entry.

Of course he couldn't have said nothing.

Holding shares together is one thing, and private family alliances and friendships are another.

The sharing of talent and management is also a necessary condition for the existence of a consortium.

Blackburn Bank was important, and Milo didn't trust the other Bostonians.

Finally, he was polite and asked Hector's best friend and one of their own to come and hang the head.

Anyway, this guy has been working in the banking system all this time.

He was once a senior executive at the First National Bank of Boston.

With Hector around, communication between Blackburn Bank and Boston First National Bank became smoother.

Even the Blackburn Bank was able to grow so fast because it absorbed a large number of elites from the First National Bank of Boston.

After this happened.

For this purpose, Hector specially convened his subordinates to discuss the matter.

The result of the discussion at that time was to temporarily let other branches in Illinois transfer funds to the branch in Chicago, while keeping things under control in the Chicago area.

Blackburn Bank head office will not specifically refute the rumours to avoid actively escalating the matter.

The matter was not that serious, but you took the initiative to attract the attention of media from all over the country.

Milo is in the media industry.

Hector knew the nature of the media. Sales volume was their top priority and they wanted to make a big deal out of everything. Anyway, the consequences had nothing to do with the media.

Of course, he didn't do nothing.

While Hector asked people to keep a close eye on the development of the situation, he also went to the asset management department and asked the department's staff to increase asset sales that day, and recovered more than 5 billion US dollars in funds.

This is the safest way. After all, liquidity is the greatest confidence!

Wait until banks in the Chicago area are forced to close that afternoon.

After a statistical analysis, it was discovered that the entire city of Chicago, including the districts and cities below, had a total of 17 branches, and a total of more than 54 million US dollars in deposits were withdrawn on that day!

After seeing this statistic, Hector's face became very serious.

As the evening progressed, evening newspapers in other regions also reprinted the news. Hector Cabrera knew that things were out of control!

Hector Cabrera asked the bank's top executives to discuss countermeasures.

On the other hand, they went directly to the home of Milo Blackburn, the new leader of the Boston Consortium.

Now it is clear that the trouble is targeting the entire consortium. How to deal with it can only be decided at the consortium level!

However, Blackburn Bank is headquartered in New York.

Milo was not in New York at this time.

Hector had no choice but to board a plane and go to San Francisco to look for Milo himself.

(End of this chapter)