America 1919 Chapter 1350 - Capítulo 1350: 462: California's Changing Lan

Capítulo 1350: Chapter 462: California’s Changing Landscape

In a single day, the situation changed dramatically!

No one expected the turn of events to happen so quickly, so quickly that people simply had no ti to react.

When the people on Wall Street learned the details, everyone was dumbfounded.

However, so imdiately began to analyze the matter—it was an unprecedented business battle for them.

Initially, Morgan, on suspicion of monopoly, prompted the New York Federal Reserve Bank to sue the Italian Bank.

This led to a sharp decline in the stock prices of two of the Italian Bank’s listed banks.

Subsequently, the head of the Italian Bank, Amadei Giannini, upon returning to Los Angeles, imdiately conceded and expressed his willingness to sell shares of the Italian Bank.

Under such circumstances, Wall Street had a first illusion that the Italian Bank had given in, and everyone thought that was the end of the matter.

However, Amadei Giannini’s words were rely superficial; what he was truly doing was twofold: Firstly, he persuaded Morgan’s ally, the Rothschild family, and secondly, he went to Washington to lobby the White House, the Treasury Departnt, and Congress to pass a policy for nationwide networking of comrcial banks.

In Washington, Amadei Giannini was fortunate to et Donnie Block, who was also lobbying the White House, the Treasury Departnt, and Congress on the matter.

Then all of Wall Street thought that perhaps this ti the Italian Bank might really turn the tables, after all, the collaboration of Block, Gianini, and Rothschild posed a formidable force.

Evidence also showed that everyone thought it would take at least half a year to push through a policy, yet it was completed in under two months.

But to everyone’s surprise, Morgan also played a part in this; they were actually promoting the policy, and as a result, Morgan borrowed the power of the three families to achieve it.

Then the situation developed to a reversal, sothing that seed impossible happened.

The New York Federal Reserve Bank’s lawsuit against the Italian Bank astonishingly disrupted the efficiency of the U.S. Governnt’s actions, giving the Italian Bank only a week’s ti to prepare a defense.

One must know that such things usually require a long waiting period.

The nationwide networking of comrcial banks policy, however, was awaiting the signatures of the Treasury Departnt and the White House.

Which ant that as long as the Treasury Departnt and the White House did not sign the bill, the failure of the Giani family was a foregone conclusion!

At the sa ti, the incident also allowed Wall Street to see the various entanglents of upper-level power.

Morgan first united with Rothschild against Giannini.

Then Giannini persuaded Rothschild, collaborating with Block!

As it turned out, Block and Morgan had already reached a consensus unbeknownst to everyone.

However, everyone agreed that in these unpredictable tis, the Block Family’s Breton Bank could undoubtedly be considered the biggest winner, as Breton Bank would not only beco one of the major shareholders of the Italian Bank, but also inexplicably completed the acquisition of the San Francisco Freedom Bank.

Amadei Giannini returned to Los Angeles, and at this mont, he suddenly seed much older.

In Washington, he had not accepted Donnie’s advice; he did not want to simply concede, he wanted to fight the Federal Reserve Bank in court; he did not believe he had already lost.

However, upon returning to Los Angeles, he received shocking news.

That was, the board of the Italian Bank had stabbed him in the back!

This was always a hidden danger of the Italian Bank. In founding it, Amadei Giannini recruited ten partners besides himself to secure enough early funds, and his father’s death cast a shadow over him, leading him to dilute the Italian Bank’s shares significantly.

Under these conditions, if the Italian Bank continued to develop well, these board mbers would naturally support Amadei Giannini.

But now, the Italian Bank was at a life-or-death juncture, one step forward would be a precipice.

Amadei Giannini had the courage to fall off the cliff with the Italian Bank, but those board mbers did not.

To them, the worst outco was just replacing a chairman; maintaining their shares and preserving the value of those shares was their expectation.

Now, under Amadei Giannini’s control, the Italian Bank could no longer ensure these board mbers could protect their interests.

So they betrayed Amadei Giannini, giving their voting rights to Breton and Morgan.

Upon receiving this news, the aged Amadei Giannini could not bear such a blow, spat blood, fainted, and was taken to the hospital!

Amadei Giannini’s collapse exacerbated the situation, and young Crea Gianini could not manage the bank’s board. Ultimately, the board resolved to remove Amadei Giannini from his position as chairman, while Crea Gianini could still serve as the general manager of the Italian Bank, but everyone knew that when the new chairman assud office, Crea Gianini’s position would also beco untenable!