Chapter 75 The Great Counterattack (3)
At first, Mussolini heard that it was a local specialty in New York. He really thought it was an industrial product or souvenir. After the suitcase was opened, he realized what local specialty was. As a financial center of the United States, it was even basically the financial center of the world. Isn’t local specialty in New York just money? This metaphor is really funny.
In addition to the valuable local specialties that made Mussolini excited, Contini's statement also attracted him very much:
Contini said boldly, but only said that the Party and the government should better lead the financial industry, go deeper into the grassroots, guide the financial industry more realistically, and better allow the Italian financial system to serve the development of Italian industry and better benefit the Italian people. United Group decided to establish United Finance, including United Bank, United Trust, United Securities and United Insurance, and intend to develop into cross-industry and mixed-industry operations giants. United Group accounts for the majority of the shares, and other financial companies absorbed scatteredly retain 25% of the shares for the country without paying specific money. United Group will issue shares, as long as some other preferential conditions are given.
Contini said firmly: "Although United Finance is a public-private joint venture and commercial capital occupy a controlling position, under the management of the United Group, it is completely different from general commercial banks. First, it belongs to the Party and will truly fulfill the trust of the leader, effectively fulfill the party's main responsibilities, effectively safeguard the stability of the Italian financial system and the core social value of the society, and then other, general financial attributes."
This attitude made Mussolini very satisfied. He also felt that after a series of actions, fascist's prestige had gradually been established at the grassroots level, but in the business, financial, intellectual circles, there were not very good things. Many people sarcastic about the party and leaders, and there were also many people who slandered them. The previous time was the Socialist Party, and this time some banks jumped out. If this unhealthy trend was not severely curbed, they would shake the United Group, and the next time someone would jump out to challenge the party and the government, so he would bring the Finance Minister and the central bank president to tell them clearly: "The face of the United Group is the face of Mussolini!"
If the two still do what they want, he wouldn't mind changing the company. Now that the Great Fascist Committee has been officially established, he has full control.
Judging from the current actual situation, the Chancellor of the Finance Department and the Governor of the Central Bank can still obey the leaders.
The order restricted transactions issued by the United Group was a run-off call. The bustling crowds filled the banks with blacklisted. They were anxious to retrieve their own thousands and tens of thousands of liras... Although there were not many personal numbers, they could not resist the huge base. This trend has a demonstration effect. As more and more people join the withdrawal ranks, and small and medium-sized banks in Italy do have poor risk resistance. On the third day, news came out that a local bank suspended deposit payment on the grounds of technical problems. This torch that other people who were originally watching the fun woke up. Citizens who were originally indifferent also joined the same ranks. Everyone is not fools, and the bank's money is only so much. If they are taken away by the front, the self behind them will become victims.
On November 2, the Banking Association held a secret meeting to discuss solutions. The chairman of several blacklisted banks was anxious to hope that the big banks could lend a helping hand, but the news they received was completely cold and bitter. The big banks said that they also encountered liquidity problems and could not help for the time being.
In fact, all the major banks that have not been involved have received a window guidance, and those who dare to violate the funds will be allowed to do whatever they dare to violate!
The high-pressure order was jointly issued by the Ministry of Finance and the Central Bank. If these orders can be ignored, the order issued by the Ministry of Finance and the Central Bank on November 2 will quickly understand the intention:...As some banks are caught in a bank run, in order to understand the above-mentioned banks' risk resistance and guarantee the safety of depositors, the Ministry of Finance and the Central Bank will form a joint working group to go to the relevant banks for inspection to verify whether there are any violations.
Wouldn't it be crazy to dare to borrow money when the storm is at the forefront of this kind of moment?
Therefore, seeking assistance from the peer guild is destined to be a failure.
The hope of seeking support from Fiat was also dashed: Old Agnelli spoke, and the Minister of Finance also wanted to give him some face, but when he explained that it was Mussolini's direct order and the latter was preparing to form a public-private joint venture joint finance, Old Agnelli was also silent and finally could only slowly put down the microphone.
Everyone knows that Fiat and Fascist dislike each other, and Agnelli and Mussolini also did not deal with each other. Mussolini inspected so many industrial and commercial construction situations. Almost every joint group industry launched, he had to come to guide and inspect, but he had never been to Turin! Not to mention going to inspect Fiat's industrial base. Of course, Fiat and Agnelli's status is here, and Mussolini and Fascisti will not attack him casually, and everyone maintained a peaceful situation.
If it was a war period, Fiat, which mastered a large amount of military industry and equipment production, had a hundred ways to make the government bow down. But now without war, the government has no urgent need for Fiat. Instead, Fiat is counting on the government orders and asking Mussolini to give high hands. Wouldn't it be a scam with the tiger? How much benefit does it have to pay? Can it compare to the benefits Ziano Jr. gave Mussolini?
In terms of how generous he spent money, Old Agnelli thought he was far inferior to Ziano. Besides, what if he could compare, even if he gave Mussolini as much benefit, he would still favor the United Group in his heart how many problems did the latter help him solve? Ziano was Mussolini's knife. With this knife, he solved the Socialist Party without any blood. Is Fiat willing to give up his position and make this knife? It would be better to kill him.
"Father, don't you really mean it?"
"How do you mean it?" Old Agnelli glared at his son, "Tell the outside world that we have something to do with this?"
"But even if we don't say it, won't those bankers who are eager to jump over the wall say it?"
"They said it was theirs, just let's beat me to death and refuse to admit it. Isn't this the usual trick of Ziano and United Group?"
"But what will bankers think of us?"
"It doesn't matter how they think we are. Anyway, they can't keep those positions and shares immediately..."
Agnelli was shocked: "Why?"
"United Group will eat up all the nine banks involved in this time to form United Finance, covering four categories: banks, trusts, securities and insurance!"
"No wonder! No wonder!"
"The younger generation is terrifying! The younger generation is terrifying!" Old Agnelli sighed, "This matter has passed, cut off our connection with the banking industry, and stop asking about this matter."
He said that, but he knew very well: First, United Group would definitely know about this; Second, after Fiat did this, no one would respond if he wanted to call the banking industry to jump out in the future. This mentality of knocking off teeth and swallowing blood is really frustrating!
But Old Agnelli was very wise. It is impossible to restore the confidence of the banking system by relying on Fiat. Finance has a characteristic, and destroying it is much easier than rebuilding. To crack down on the reputation of the banking industry, just some bad news and hearsay rumors will be enough. It will take effect in a few days and weeks. However, it will take several years to rebuild reputation. Although Fiat is large, it is not enough to fill this bottomless pit.
Stop loss at the right time is the first choice of a business giant who knows how to advance and retreat.
On November 4, the banking industry, which was in the whirlpool, was still struggling, but the headquarters of United Group welcomed an unexpected banker. He sat in front of the assistant to the president and the chairman of United Group (Planning), and said in a bad tone: "I am Francesco, the president of the Italian Southern Bank. The bank decided to provide United Group with a loan of 100 million lira with an interest rate of 8%..."
Chapter completed!