George Whitney replied coldly: "Quinn Shack, didn’t you hear what I just said?"
You have only three days left for Hawke Financial Group. This is my final advice to you!"
After saying that, George Whitney hung up the phone directly.
At this mont, George Whitney was in no mood to pay attention to Quinn Shack’s pleas.
Because he had more important things to do.
There were a few docunts in front of George Whitney.
In Wall Street, in financial company locations in other cities of the United States.
Several cases similar to Hawke Financial Group have erged.
Their loans are about to mature, but the current stock market shows no signs of improvent, making it clear that even if these companies’ loans mature, they won’t be able to repay them.
If stocks, futures, and bonds lose their ability to be exchanged for cash, then they are just a pile of waste paper.
This situation gave George Whitney only one thought.
"Could Donnie Block’s fear of a financial crisis really be coming true?"
We must rember that behind every financial securities company are thousands of shareholders. If these companies can’t survive this period, it won’t just be the companies that suffer.
It’s thousands of shareholders and their families.
This situation has a high likelihood of forming a chain reaction that could lead to the entire stock market collapsing.
Taking a deep breath, George Whitney held his analysis report and headed to Jack Morgan’s office.
At that mont, Jack Morgan had just hung up a call.
Seeing George Whitney co in, Jack Morgan spoke before George could even open his mouth.
"George, I just received a call from Charles Mitchell, who said that Citibank is already experiencing issues with financial securities companies failing to repay their loans. Do we at Morgan have such situations?"
Charles Mitchell, the current president of Citibank.
George Whitney imdiately replied: "Mr. Morgan, I ca to report this matter to you!"
Then, George Whitney explained the situation he discovered and the results he analyzed to Jack Morgan.
After listening, Jack Morgan frowned.
"Is the situation serious?"
George Whitney explained: "It’s not exactly serious. Compared to the overall stock market in the United States, the situation is still within a controllable range."
If it weren’t for Mr. Block’s prediction, I would simply consider this as a normal market adjustnt, as it’s impossible for everyone to be making money.
But with Mr. Block’s prediction now, I’m personally unsure of how things will turn out!"
George Whitney was extrely cautious about the situation.
Jack Morgan also fell silent; in fact, just as George Whitney said.
If it weren’t for Donnie Block’s prediction, he wouldn’t be taking this matter to heart now.
But now...
"Wait for !"
Jack Morgan picked up the phone and called Donnie Block’s office in Atlantic City.
"Block, has Venus Bank recently encountered any issues....."
Jack Morgan explained the situation Morgan was facing to Donnie.
After listening, Donnie Block smiled and said: "No, actually last year, Venus Bank stopped policies like stock, bond, and futures collateralized loans."
This matter caused quite a stir at Venus Bank at the ti!"
Jack Morgan fell silent; he was initially surprised by the result, but upon recalling Donnie’s previous actions, it seed reasonable.
Donnie was certain that a financial crisis would co, so he naturally stopped any behaviors that might put Venus Bank in a predicant.
But...
"Block, are you really sure that a financial crisis will erupt this year?"
Though Jack Morgan had already chosen to believe Donnie, he wasn’t fully convinced—he was just leaning toward Donnie after weighing the pros and cons.
But now, the situation left Jack Morgan feeling uncertain.
"I’m not worried about the current situation; I’m concerned about the subsequent impact that this will cause, what will it be like?"
Facing Jack Morgan’s question, Donnie laughed and said: "Morgan, I always believe one thing; in a market economy, it’s impossible for everyone to keep making money continually. Every market should have its ups and downs."
An avalanche starts with the first snowflake falling!"
Jack Morgan pondered for a mont and asked: "So you think the crisis is about to happen?"
Donnie confird: "That’s right, I believe it’s coming soon, and right now, I can almost see the scene of an avalanche!"
Jack Morgan hung up the phone and fell into silence alone.
In tis of difficult decisions, Jack Morgan would often think about how his father would handle such situations.
After a long ti, Jack Morgan’s expression turned serious, and he said: "George, your most important task now is to take comprehensive control of those financial securities companies with loans about to mature."
Once their loans mature and aren’t repaid, imdiately take legal action to sell all their stocks, futures, and bonds to first cover the bank’s losses."
No financial securities company only borrows from one bank—they typically borrow from multiple banks.
At this mont, the test lies in the banks’ responsiveness.
It’s like soone having six or seven credit cards, but with no source of inco anymore, living solely off cash advances.
When their credit card balance reaches a critical point, the bank will notice.
Then, there will be a bank lowering or directly blocking the card’s limit.
The chances of lowering the limit are higher.
After the limit is lowered, if the cardholder still shows repaynt ability, banks will mainly just keep them under supervision.
But if after the limit is lowered, the cardholder can no longer repay the credit card.
At this point, it depends on the banks’ responsiveness—they’ll investigate your financial situation or auction your house, auction your car.
Ultimately, they aim to minimize their own bank’s losses.
As for repaynts to other banks, that’s not their concern anymore.
A hundred years ago in the United States, they were already doing this.
George Whitney knew Jack Morgan had already decided to trust Donnie’s words.
"Alright, I’ll get on it imdiately!"
George Whitney knew that there was no longer ti to discuss these matters with Jack Morgan now.
After George Whitney left Jack Morgan’s office, the phone in Jack Morgan’s office rang again.
But this ti, Jack Morgan didn’t answer it, knowing that his office phone would keep ringing afterward.
George Whitney ca to the floor-to-ceiling window of his own office.
Morgan Tower isn’t tall in Wall Street, but no one would underestimate Morgan because the building isn’t high enough.
Every building on Wall Street has to look up to Morgan Tower.
George Whitney stood in front of the floor-to-ceiling window, with Wall Street in his view.
Every person on the street appeared rushed, but their faces were smiling.
He didn’t know whether Donnie’s prediction would be accurate.
But George Whitney understood one thing very well, if Donnie Block’s prediction was accurate, soon he wouldn’t see smiles on anyone’s faces on Wall Street.
.
Atlantic City!
Donnie knew about Wall Street’s situation even earlier than George Whitney.
"It seems that soon Wall Street will turn into hell, Robert, we need to add fuel to the fire in hell!"
Donnie similarly stood at the floor-to-ceiling window of his top-floor office in Venus Tower, but in Donnie’s view was the vast Atlantic in the distance!
The Atlantic under the sunlight, shimring and scenic!
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