Siheyuan (courtyard house): My name is Shazhu!
Chapter 369 The bank run has been quelled!
The bank run at the three major banks was not actually difficult to handle. The key issue was that the attitude of their board members was stuck decades in the past, and they were unwilling to bow down to depositors in Hong Kong!
They've got it wrong. Your Qing Dynasty is long gone. You need to see that times have changed!
Boss Mai's guarantee for Niu Feng Bank went smoothly at first, and then our "Fengyun" tabloid published a supplement.
"Besides our tax revenue, what other money do they have to guarantee Niu Feng Bank? That's our hard-earned tax revenue. What right do you have to use it so carelessly?"
Instead of properly developing the infrastructure here, you're wasting our money. What are you doing here? Are you here to help your companies plunder us?
If you don't have money for public works projects, but you have money to guarantee private companies, are you referring to all private companies or just your Niu Zi Company?
What about your policy of active non-intervention?
Depositors withdrew all the money from Niufeng Bank, leaving a shortfall of 1.5 billion yuan. How big are you to guarantee that you can use your annual tax revenue of 2.46 billion yuan?
First, disclose what you did with your tax revenue for the year. This is still a mess; tell me where the money went...
The tabloid "Fengyun" devoted an entire page to the guarantee issue, presenting a well-reasoned and evidence-based account, exposing the true nature of Boss Mai and his associates.
This infuriated Mr. Mai, who was internally screaming, "Brother, things are almost over, let's stop making a scene, okay?"
"We're the bosses here. Aren't you afraid we'll shut down your newspaper? You're a tabloid, not a financial newspaper."
Unfortunately, there's no way to shut down this tabloid now, and if people find out about it, it'll be a huge problem.
At this time, the board members of Niufeng Bank received some news that they had raised another 1.5 billion yuan within three days, and Niufeng Bank would solve everything itself.
The matter of Niufeng Bank came to an end, but what they did not expect was that the number of depositors leaving the bank would be alarmingly fast.
This was something they never expected!
The percentage of depositors holding deposits plummeted from 11% to 1.3%, a drop of 8.46 times. This rate of decline far exceeded their predictions, which had expected it to be between 4% and 5%.
This will cause great trouble for future business operations. Their annual deposits do not exceed 800 million yuan, so they dare not make large loans, and their income will drop significantly.
Companies lay off employees too!
"Our board of directors has raised another 1.5 billion, bringing the total to 2.3 billion, which should be enough to keep the company running smoothly. We also have 32.9 billion in loans available. Everything will be alright."
Good heavens! We have over six billion in deposits, and we can borrow over ten billion from our peers for emergencies. But who dares to lend to us now?
Having depositors makes a difference. We are not Dongda Bank; we don't need depositors. We have 500 billion in deposits on our own. We suffered a huge loss ten years ago because we didn't get Hang Seng Bank.
They suffered a huge loss, and Hang Seng Bank staff were all smiles. In just a few days, they gained another 7.7% of depositors.
With over 30% of its total depositors, it is the bank with the largest number of depositors.
Dongda Bank still only accepts depositors with deposits of over one million yuan and employees of its own group companies; it does not handle deposit or withdrawal services for anyone else.
The board members of Niu Zha Bank replenished the 4 billion deposit amount, and nothing else happened. The number of depositors decreased to 2.1%, and the losses were much better than those of Li Ru Bank.
They ultimately failed to account for the 1.1 billion yuan debt owed to depositors, and all members of the board of directors were killed by the enraged depositors.
There were four families here, and they were all wiped out!
Boss Mai knew who was behind it, but he didn't dare to tell anyone. He had a large family to support, and he was afraid.
The other families are also unsafe, as the elderly are not safe either. That old man might go back to his hometown one day, and then they will all be wiped out!
I'm so scared my legs will cramp!
The Liru Bank building and the nearby land were privately owned by their bank. A month later, it was auctioned off for a high price of 8.3 million, which was then distributed to all depositors by Mr. Mai according to a certain ratio.
On average, all depositors received back 75.45% of their deposits, losing a quarter of their principal and earning no interest whatsoever. They had no choice but to accept this situation with a sense of helplessness and misery.
"The issues with Niufeng Bank and Niuzha Bank have been resolved these past few days, but what about the debts owed to Liru Bank?" Zhou Songyu asked about a week after the bank run.
"What else can we do? Auction off the land and buildings, and distribute the proceeds according to the depositors' savings ratio. That way, we'll lose less."
How big is their territory? How much can it fetch at auction?
"I don't know, I haven't paid attention to their bank."
"You don't care about them again. I don't know what you care about every day?"
"I care about you and the children. As for business, I care about changes in the world. Am I still a threat here? Different identities require different perspectives."
"Zhu Zi is very good at taking care of his family. Some small business owners are even busier than him; I wonder what they're doing all day?"
"Hmph, our Comrade He Yuzhu is busy taking care of that woman from Niu Niu's hometown. It seems she has a different perfume scent now. Who is it?" "What a sharp nose."
"Nobody's here, just a friend who came with me. There was no water or electricity there, and she couldn't stay there any longer, so she came along. You might smell her scent. New Year's is in a few days, are you all ready?"
"There's still a problem."
The Iron Woman finally took the stage. There were too many people who felt powerless to change the situation, so they had to re-appoint some people. The Iron Woman reached the position she wanted four years and four months ahead of schedule.
The arrival of Masha and Lily made He Yuzhu very happy before the Chinese New Year. He spent time with his children, family, and the two women, and his days were very fulfilling.
Upon hearing that the Iron Woman had officially taken the stage, Martha was asked to call back and ask if anything had happened.
Private ownership, private ownership, and more private ownership—the Iron Woman has been using the concept of private ownership to deceive everyone since she came to power.
The Iron Women caught a good opportunity. They were severely short of money. Private money came in quickly, and they had taken out many loans, but it still wasn't enough.
The private ownership route offers a great opportunity to earn money, which is excellent.
The Iron Woman did something a human being would do: she announced that no taxes would be increased, stabilizing public sentiment and addressing concerns that wealthy people might leave to do business overseas.
In that case, they're really finished!
This woman is more pragmatic than some people who are obsessed with 'glory'; she understands that some things are not worth doing.
The city government did not raise taxes or take further action against the Dongda Group; she had many things to consider while on the stage.
With security as the top priority, reconstruction has begun, and equipment and raw materials have arrived in several locations.
He Yuzhu was still busy accompanying Niu Niu and didn't care about Niu Niu's situation.
The company's finance department is making investments for Martha around the world in an orderly manner. Students will start school at the end of February, and she has less than 200 million Niu Niu coins in cash.
The two women, who had stayed in the port city for more than a month, returned to their hometown!
Two women were gone, but another woman appeared: Zhao Yazhi, who was placed second in the Miss Hong Kong pageant two years ago (originally fourth) and was also the Miss Photogenic that year.
She couldn't escape the 'right hand of God' two years ago, and she can't escape it again two years later. Come on, let's play cards and drink together.
This woman in her youth doesn't seem as captivating as she was in "The Legend of the White Snake" more than a decade later, when she was over thirty-five.
"Riding the Waves" was her first drama filmed at Dongda TV Station, and she was still very green.
However, her willingness to stay is a step forward; she has completely come to terms with it. Under He Yuzhu's arrangement, she secretly received double pay.
The era of Xia Yufang's red and beautiful life is almost here. I've waited for over twenty years. I miss Zhang Bingqian and another woman named Guan Zhilin!
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