Reborn in America: Starting as a California Resident

Chapter 130 The Tilted Axis of the Conglomerate

It is noteworthy that three of the four Supreme Court justices nominated by Nick Kinney voted to hand over the tapes, one recused himself due to a conflict of interest, and none of them showed favoritism towards Kinney.

In the constitutional system of separation of powers, the position of Congress as the primary authority is inviolable.

The House Judiciary Committee passed three articles of impeachment between July 27 and 30: obstruction of justice, abuse of power, and contempt of Congress.

By August 5, when the White House released tapes showing that on June 23, 1972, five days after the Firegate incident, Nick Kahn discussed with his staff how to instruct the FBI to stop the investigation into the Firegate incident, the evidence was conclusive that Nick Kahn had been planning from the beginning to cover up the truth and obstruct justice.

Evidence shows that the illegal intrusion that was caught red-handed by the police on June 17, 1972, was the third attempt by Nick's team to install eavesdropping equipment at the Democratic Party headquarters. The first two attempts failed due to technical problems.

Finally, on August 7, 1974, facing an increasingly dire situation, three heavyweight Republican figures—Arizona Senator Barry Goldwater, Senate Minority Leader Hugh Scott, and House Minority Leader John Rhodes—went to the White House to deliver a clear message to Nick: he had lost the support of Republican members of Congress.

At that time, the House of Representatives consisted of 242 Democratic members, 192 Republican members, and one member from another party.

The Senate consists of 56 Democratic senators, 42 Republican senators, and 2 members from other parties.

Three Republican leaders revealed that at least 117 Republican members of the House of Representatives support impeaching Nick, while at least 27 Republican senators are prepared to support his conviction.

Realizing the situation was beyond repair, Nick announced his resignation on August 8 and boarded a helicopter the following day at noon to leave the White House, ending his term as president.

Henry's views on the Firegate incident in his previous life were largely the same as those reported by the outside world.

He also believed that Nick's downfall was due to greed.

However, as Henry's rebirth continued, he gradually gained access to more inside information!

It turns out that this globally shocking event was actually just a counterattack launched by the Eastern conglomerate, which was unwilling to be suppressed.

Since World War II, the federal government has been injecting huge sums of money into the West, totaling around $700 billion.

And more than $400 billion of it will be used to build factories, military bases and urban redevelopment.

California thus became one of the biggest beneficiaries.

The defense industry has boosted the local economy and accelerated the pace of industrialization.

Companies such as Boeing's factory in Seattle, and Douglas and Lockheed in Southern California, have dominated the aerospace industry.

The population west of the Mississippi River surged rapidly after 1945, growing from 3200 million to 4500 million by 1960.

California thus overtook New York to become the most populous state in the United States.

This change also reshaped the economic landscape of the United States, leading to the relative decline of the traditional old industrial states in the Northeast and Midwest.

Meanwhile, emerging financial groups in the West, represented by California, and the South, represented by Texas, rose rapidly, creating a counterbalance to the traditional financial groups in the East.

The once-powerful Kuhn-Loeb financial group (one of the eight major financial groups in the United States before the modern top ten financial groups) has declined into a local financial group.

Ayu also became a parasite on National City Bank, which broke away from the Rockefeller Group and transformed into the independent First Citibank Group.

Thus, the eight major conglomerates that dominated the economic lifeline before the war have evolved into ten major conglomerates through various changes.

In 1968, the total assets owned by these ten financial groups accounted for more than 60% of the GDP of the United States.

By 1974, this proportion had climbed to a staggering 80%.

(Although the relative strength of the Eastern financial groups centered on Wall Street has declined, their absolute influence remains solid.)

The combined assets of the Morgan and Rockefeller financial groups even exceeded the total assets of the other eight financial groups, and Wall Street continues to play a pivotal role in the economic and even political arena of the United States.

This shift in the power of monopolistic financial groups has also significantly influenced the composition of the Washington government.

From the early postwar period until the early 1950s, the influence of the Morgan and Rockefeller financial groups remained dominant.

Harry S. Trudeau's election was a manifestation of the political power of the Morgan financial group.

The subsequent Dwight D. Eisenhower is seen as the result of a compromise between Morgan and Rockefeller.

By the time of John F. Kennedy, although he himself belonged to the Boston Group, his election also reflected the growing power of the Rockefeller Group.

However, since President Lyndon B. Johnson took office, the influence of emerging conglomerates in the South and West has become increasingly significant.

Since 1964, most presidents, including Lyndon Johnson, Richard Nixon, and Jimmy Carter, were born in the West or South, or claimed to be residents of the West or South.

The only exception was Gerald Ford, who also came from a Midwestern financial family and was elected president after the Firegate scandal, having served as vice president.

In the 1970s, with the decline in global population growth and the slowdown in consumer market demand, the profit margins of capitalism were greatly compressed, and internal competition among capital groups became more intense.

Against this backdrop, major financial groups not only faced challenges from domestic and international markets, but also had to deal with the issue of internal profit distribution. These changes further propelled the adjustment of the US economic structure and the evolution of its social structure.

The phenomenon of western and southern financial groups joining forces with central and western financial groups to counter eastern financial groups has begun to emerge.

For example, Richard Nixon (who came from a California financial group) increasingly considered the interests of western, midwestern, and southern financial groups in personnel arrangements and policy-making during his tenure in Washington.

In 1972, military orders from the U.S. Department of Defense showed that California received the most orders, accounting for 18.7% of the national total. The four major western and southern states (California, Texas, Florida, and Washington) received a combined 33% of the orders, while the six eastern states (New York, Massachusetts, Connecticut, Pennsylvania, New Jersey, and Virginia) accounted for only 29%.

Lockheed, a California-based conglomerate, successfully became the largest arms supplier to the U.S. Department of Defense during President Nixon's term.

Faced with this situation, the Eastern conglomerates are naturally unwilling to be suppressed.

This led to a serious power struggle in American politics.

The "Firegate Incident" was the key point of the counterattack created and orchestrated by the Eastern Consortium.

Relying on its profound heritage, it has once again regained dominance in the United States.

Nelson Rockefeller, the leader of the Rockefeller Group, was nominated as Vice President, while Henry Kissinger, Rockefeller's advisor, was re-elected as Secretary of State.

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