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Chapter 855 Dimensional Reduction Strike: Turning Public Opinion Around in 24 Hours!
"With the full strength of Citibank, we support Mr. Lin Haoran and stand on the same side as him. Who agrees and who disagrees?" Walter Riston said, his gaze sweeping across the entire conference room.

At this moment, Walter Riston truly decided to tie the entire Citibank to Lin Haoran's side.

He was completely convinced by John Reed's remarks today.

Yes, Lin Haoran was someone he had high hopes for.

He had known the other party for several years and had never discovered that the other party had experienced any investment failures.

He had never seen such an extraordinary investment genius before.

Even the renowned stock market guru Warren Buffett makes investment mistakes.

For financial giants like Citigroup, Goldman Sachs, Wells Fargo, and Morgan Stanley, investment losses are a common occurrence.

For example, in this US stock market downturn, according to Walter Riston, all the major US financial institutions collectively misjudged the situation and suffered significant losses in this investment!
In fact, Citibank is not even the one that lost the most money!
On the other hand, Lin Haoran has never seen the other party fail in either business competition or financial investment since he met him!

This is an exaggeration.

In any case, Walter Riston, who was already considering retirement, had never seen such a genius in his decades-long career.

From the moment Lin Haoran first collaborated with Citibank and the latter made a fortune in gold futures, Walter Riston had already been very optimistic about Lin Haoran.

Through repeated collaborations, he became increasingly impressed with this young man, even feeling a sense of familiarity with the legendary Wall Street tycoons of his youth.

That almost instinctive sense of trends, the ability to precisely balance risk and return, and the extraordinary courage to make big bets at critical moments.

Lin Haoran not only brought substantial profits to Citibank, but more importantly, he repeatedly proved the accuracy of his judgments with facts. In the ever-changing financial market, this is a quality more precious than gold.

Therefore, in July 1980, Walter Riston personally flew to Hong Kong for a formal meeting with Lin Haoran.

The purpose was simple: to transfer 3% of Citibank's shares to Lin Haoran at half the market price, making Lin Haoran a shareholder and ordinary director of Citibank.

This was a strategic visit for Citibank, aimed at strengthening its alliance with Lin Haoran.

This shows that Walter Riston had valued Lin Haoran highly from a very early stage.

Because of the many policies implemented by President Reagan, Walter Riston mistakenly believed that the US stock market was about to usher in another bull market, so he decided to have Citibank make early arrangements so that Citibank could make a fortune in this bull market feast.

Lin Haoran's remarks, however, became the only jarring but sobering dissonance.

Unfortunately, everyone, including himself, was blinded by the wave of optimism and chose to ignore or even resist it.

Today, the market has delivered a resounding slap to Citigroup with cold reality, but Lin Haoran's warning and his short-selling strategy implemented privately through John Reed have become Citigroup's only savior in this disaster.

A profit of $3.62 million, and that profit might not even be the final figure.

Because US stocks are still falling, only occasionally rebounding, but the overall trend is still downward.

Therefore, the profit of $3.62 million could potentially turn into $4.62 million, or even $5.62 million!
This stark contrast led Walter Riston, amidst shock and regret, to develop an unprecedented and almost certain understanding of Lin Haoran's value.

This young man may be the "prophet" of the financial field in this era.

With this in mind, Walter Riston's last concern about the potential management challenges of "reporting to higher levels" or "strategic concealment" completely vanished.

Faced with absolute power and near-prophetic accuracy, the flaws in the program seem so insignificant.

He even began to feel fortunate to have a subordinate like John Reed who was willing to take responsibility and was resourceful.

He was able to withstand the pressure and turn Lin Haoran's wisdom into real profits, saving Citibank's reputation amidst the devastation and preventing him from suffering the most painful setback of his career.

The room fell silent for a moment as soon as Walter Riston finished speaking, asking "Who's in favor and who's against?"

“I agree!” John Reed was the first to respond.

Chief Risk Officer Mark followed suit, his statement reflecting a rational acceptance following a risk assessment.

"Based on our comprehensive understanding of Mr. Lin's past performance and his outstanding judgment once again demonstrated in this incident, we support his decision as being in line with Citibank's long-term interests and risk control principles."

“I agree,” Li Guowei followed suit.

Lin Haoran is his boss, so even if everyone else disagrees, he will still agree.

As these individuals announced their decisions, a wave of approval swept through the entire conference room:

"Agreed! It's time for Citibank to show its strength!"

"I second that! We must stand with Mr. Lin through thick and thin!"

"I completely agree! This is the right choice!"

"There is no reason to object! Mr. Lin is our pride and an important pillar for Citibank's future!"

“Mr. Walter is right. It’s easy to add flowers to brocade, but difficult to provide charcoal in the snow. It’s time for us to offer Mr. Lin this pot of the hottest charcoal!”

……

Soon, the statistics came out, and everyone agreed to stand on the same side as Lin Haoran.

Not a single person objected!
Seeing the scene, John Reed breathed a sigh of relief.

His goal has finally been truly achieved.

As Lin Haoran's true ally in Citibank, he was the one who was truly tied to the other side.

Therefore, in his view, Forbes' targeting of Lin Haoran was a targeting of him.

He was also very grateful to the other party for convincing him to ultimately conceal his initial plan to short US stocks from Citigroup headquarters.

Now, being able to get the entire Citibank executive team to "send charcoal in snowy weather" for Lin Haoran is not only helping him resolve a public opinion crisis.

This further solidified and enhanced John Reed's influence, strategic vision, and special bond with this "prophet of the future" within Citibank.

At the same time, he successfully transformed a potential cover-up and internal struggle into enormous political capital and strategic achievements.

Walter Riston was filled with mixed emotions as he looked at the unanimous vote.

This demonstrates an unprecedented level of unity and consensus within the entire Citigroup.

The last thing in his heart was finally settled.

He knew that he was not just pushing for a resolution, but also ushering in a new era for Citibank.

From this moment on, the relationship between Citibank and Lin Haoran will enter a new and irreversible era.

Walter Riston slowly stood up, placed his hands on the table, leaned slightly forward, and concluded this historic meeting with his final, summarizing words.

"Very good. Passed unanimously."

Walter Riston's voice carried a calm that had settled down, as well as a solemnity that indicated the beginning of a new journey.

"Then, the 'Rock Solid Alliance' takes effect immediately. This is not just a slogan; it will become one of the highest principles for all of Citibank's future actions. John, this matter is entrusted to you. The entire group supports you unconditionally. The rest is up to you."

I want to see the power of Citibank demonstrated in the most direct and impactful way.

"Rest assured, Mr. Walter, I will absolutely not let you and the board members down!" John Reed said solemnly with a smile.

"Alright, guys, meeting adjourned. Go back and enjoy your vacation!" Walter Riston said with a smile, trying to ease the overly tense atmosphere in the meeting room with a lighthearted tone.

The board members stood up one after another, their faces showing relief and a hint of excitement at participating in such an important decision.

They nodded to each other, talked in hushed tones, and left the conference room one after another.

The previous tension, doubts, and reflections have now transformed into expectations for the future of the "Rock Solid Alliance" and trust in John Reed's abilities.

Soon, only Walter Riston and John Reed remained in the conference room.

The afternoon sun streamed in through the huge floor-to-ceiling windows, casting long shadows on the smooth tabletop.

Walter Riston walked to the window, turned his back to John Reed, and gazed at the Manhattan skyline outside, remaining silent for a moment.

Then he turned to his successor, whom he had personally promoted. “John, you did an outstanding job today, not only because you brought in $3.62 million in profit for Citigroup, but also because you demonstrated an extraordinary ability to manage complex situations and turn crises into opportunities.”

You handled the Richard Miller matter decisively, although your methods were unexpected. But that's how a successor should be. A leader should have this kind of courage and skill.

Wall Street doesn't believe in tears; it only reveres the victors and the rule-makers.

Walter Riston's words, like a final pardon and coronation, completely dispelled the last trace of lingering fear in John Reid's mind about the possible effects of his past "methods".

This is not just recognition, but also positioning him as a future leader capable of setting rules and managing complex situations.

John Reed felt a surge of warmth, but he remained respectful and composed: "Thank you for your understanding and trust, Mr. Walter."

Given the circumstances, I had to ensure that the right strategy could be implemented and to eliminate internal interference.

Going forward, I will pay more attention to methods and approaches, but my determination to defend Citibank's core interests will never change.

“I believe in you, and I know that everything you’ve done is for the future of Citibank. That’s why I’ve always groomed you as my successor. Through this incident, I’m even more confident in handing Citibank over to you in the future!” Walter Riston said with a smile.

This straightforward and weighty recognition made John Reed's breath catch in his throat slightly.

Although it was expected, the impact was still enormous when the word "successor" was so explicitly uttered by Walter Riston.

He knew that this was not just verbal encouragement, but that Walter had officially paved the way for him to reach the highest power, thanks to today's thrilling performance at the board meeting and Walter's support in standing on the same side as Lin Haoran.

“Mr. Walter, I… I don’t know how to express my gratitude. I will always remember your trust and guidance. I will do my best to live up to your expectations and lead Citibank to a brighter future!” John Reed’s voice was filled with heartfelt gratitude.

"Do a good job. I believe you will do a great job. I'm going back now. I hope that within 24 hours you can completely reverse the negative public opinion situation and demonstrate our unwavering commitment to the alliance!"

For Walter Riston, if Citibank stands up for Lin Haoran and Forbes can hold out for 24 hours, it will be a failure for Citibank.

The difference in strength between the two is enormous.

“I understand, Mr. Walter. Twenty-four hours is enough for Forbes to realize they’ve messed with the wrong people,” John Reed said solemnly.

Walter Riston nodded, said nothing more, but patted John Reid on the shoulder one last time, then turned and walked out of the conference room with steady steps.

The door closed gently behind him, leaving John Reed standing alone in the center of the spacious conference room, bathed in the afternoon sun.

The other party's meaning was clear: he would not interfere with any of John Reed's actions in this matter.

This is not just a test of him, but also an effort to increase John Reed's influence within the group and pave the way for his future succession.

Undeniably, Forbes holds a certain position in the American business world and has an extensive network of connections.

After all, the other party's magazine is one of the symbols of American business, and even Walter Riston himself was a frequent cover figure and in-depth interviewee of Forbes magazine.

But at this moment, in Walter Riston's heart, the scales had completely tipped.

Compared to a prophetic ally capable of consistently creating miracles and foreseeing the future, Forbes' so-called status, influence, and connections seem both outdated and insignificant.

Moreover, this time it was Forbes that provoked us, using despicable methods that crossed the line of business credibility.

Citibank's counterattack was not only for Lin Haoran, but also to defend the most basic principles of fairness and fact in the business world.

John Reed stood in front of the whiteboard, a black pen in his hand, his brow furrowed.

He needs to figure out how to completely reverse public opinion within 24 hours.

Originally, Lin Haoran had been enjoying great success in the United States recently because of his prediction of a decline in Chinese and American stocks.

However, this Forbes article did indeed cause many Americans to have doubts about Lin Haoran, especially some conservatives who already viewed successful people from the East with prejudice and some loyal readers of Forbes.

This kind of doubt spreads like a virus, especially in an era when information was relatively one-way.

But John Reed knew that the virus was spreading rapidly, and the effective treatment needed to work even faster.

He needs a strong remedy to not only dispel doubts but also to completely reshape Lin Haoran's image, transforming him from a "mysterious tycoon under scrutiny" into a "visionary of the times endorsed by top financial institutions and proven by facts and data."

The core of the counterattack cannot be a simple "denial" or "defense," otherwise it will lead to a pointless war of words with Forbes.

The counterattack must be a decisive blow, using a higher platform, a more authoritative voice, and more irrefutable logic to redefine this discussion.

Ideally, Forbes' authority should be completely undermined to solve such problems once and for all.

He combined the plan he had been working on that morning and began to refine the specific tactical actions for the next 24 hours:

First, contact at least two top international auditing and consulting firms, such as PricewaterhouseCoopers, to initiate an emergency investigation into “Mr. Lin Haoran’s publicly verifiable business activities and assets.”

They were required to produce a "summary of facts" as quickly as possible, based on publicly available data from the Hong Kong government's bailout fund, publicly available financial reports from relevant listed companies, and publicly reported investment cases such as Apple and Japan.

This summary need not be a full report, but rather a list of key data points and preliminary corrections to obvious misrepresentations.

As for Lin Haoran's collaborations with Citibank, some details that the other party had requested not to be disclosed remain confidential, such as his performance in gold futures, which has always been a secret transaction between Citibank and Lin Haoran.

Then, after obtaining the key points of the preliminary verification by a third-party organization, the strongest public statement was immediately issued in the name of Walter Riston and the Citigroup board of directors.

The publicly stated content is also very simple.

1. We strongly condemn the Forbes report for seriously violating basic principles of fact-checking;
2. Attach a summary of the key points of the third-party verification and a timeline chart to let the facts speak for themselves;
3. Citigroup announces that, based on its independent judgment of publicly available facts, it holds the highest respect and confidence in Mr. Lin Haoran's business acumen, integrity, and leadership.

4. This suggests a reassessment of partnerships with any media outlets that publish false reports.

These public statements must be published in major media outlets across the United States.

For example, The New York Times, The Washington Post, The Wall Street Journal, USA Today, The Los Angeles Times, The Boston Globe, Silicon Valley Today, and so on.

As one of the leading financial giants in the United States and even the world, Citibank has always maintained a very good relationship with major mainstream media outlets.

Once Citigroup releases its public statement, Forbes will be in an unprecedentedly passive position.

In addition, they also brought in some of Citibank's affiliated forces to specifically target those who questioned Forbes' authority!
In addition, he will personally engage in "informal communication" with his counterparts at allies such as Goldman Sachs and Morgan Stanley to share Citigroup's statement and fact summary, and to discuss the "brand reputation risk" that Forbes' parent company may pose due to its editorial policies and the potential impact on its stock price.

Do not ask them to take action, just send a signal of “attention”.

If Citibank were to announce its full support for Lin Haoran, Forbes would be in a very awkward position.

Suppressing a Forbes magazine requires very few resources.

Especially when the evidence is conclusive.

Forbes' article on Lin Haoran contains far too many logical flaws and factual errors.

Once Citigroup reveals these things, anyone can see that it's not just a matter of rashness, but more likely involves biased or even malicious sources.

Forbes may have wanted to create a big story, attract attention, and solidify its image as a "business whistleblower," but they chose the wrong target and used the wrong method.

John Reed's thinking became clearer and clearer: the core of the whole plan was to use Citibank's century-old unparalleled credit and authority to provide Lin Haoran with the highest level of "credit endorsement".

Once this endorsement is completed, it will directly offset or even overwhelm the negative impact of the Forbes article, which was based on speculation and prejudice.

After all, Citibank's status in the American financial world is incomparable to that of financial media outlets like Forbes.

If Forbes is the "chronicler" and reporter of the business world, then Citibank is one of the "power cores" that participate in writing history and can even influence its course at certain times.

When the "core of power" speaks out to defend the "rules" and "partners" it deems worthy of its voice, its weight and impact far surpass that of a single media outlet.

John Reed quickly gathered his thoughts, left the conference room, returned to his Citibank vice president's office, and promptly made calls to his team members.

Although suppressing Forbes was not a big deal for Citibank, Chairman Walter Riston demanded that the matter be handled perfectly within 24 hours, which was essentially a performance review for him.

Therefore, John Reed would not let his guard down.

He didn't plan to tell Lin Haoran either, because he felt that giving him a surprise might be more effective and would strengthen their relationship.

Lin Haoran, far away in Hong Kong, had no idea that while he was planning to deal with Forbes, someone had already launched a thunderous counterattack before him.

(End of this chapter)