Chapter 156 (1/2)

”No, you can't do that.” In San Francisco, at Wells Fargo's headquarters, shareholders gather and roar at the people in the audience.

”Of course I can. My boss now holds 52.5% of the shares of Fumin bank and has settled down on Wall Street. The decision to reopen will not change.”

Ben, who has been a think tank for many days, is sitting at the head of the meeting room and politely smiles to inform shareholders of this sudden news.

”We have a lot of depositors in San Francisco. What should these people do?” One shareholder protested.

The interstate banking bill has not changed. If they want to get a foothold on Wall Street in New York, they have to close down.

”The branches will be closed and temporarily closed, informing all customers that they can choose to take their money or wait for Wells Fargo to open.”

as like as two peas, the answers given are exactly the same as they guess.

”Their family, career and life are all here. Do you want them to go to New York every time they withdraw money?” One shareholder clenched his teeth and banged his fist on the table.

”I said, they can take their own money.” Ben kept smiling.

”I will not agree with such a ridiculous decision. I will protest to the Federal Reserve that you are destroying this bank and our efforts.”

The Fargo family, the founder of Wells Fargo, the first largest shareholder of Wells Fargo, the third generation of William Fargo, yelled with a blush.

”This resolution will not change. As for Mr. Fargo, what you want to do is your freedom.”

Ben shrunk his smile, stood up and closed the document without delay. His eyes were wry: ”I also want to inform you that Wells Fargo will receive a capital injection of up to $1 billion. I hope you have enough money in your pocket to keep your existing shares.”

The think tank's acquisition of Wells Fargo began when Li Zitao and Juliana started negotiations.

Wells Fargo's share price plummeted to 80 cents, and at a time when no one was going to touch the banking industry, shareholders were relieved to let a large number of shares remain in the market.

So the think tank spent a week quietly absorbing 45% of its shares without attracting anyone's attention.

Then he opened his mouth and swallowed 7% of the shares in one fell swoop.

By the time Wells Fargo's board reacted, he already had 52.5 percent of the shares.

After Ben left with his bodyguard, shareholders in the meeting room were limp in their seats, thinking about the future.

With $1 billion of capital injection, Wells Fargo's current market value is less than 20 million, which clearly does not give them a way to survive!

With such a huge capital injection, how many shares can they keep? 0.05 percent, or 0.1 percent?

……

Money, money, after all the details have been finalized in New York, Li Zitao should worry about money.

He doesn't have $400 million in capital reserves. There is only one way he can think of now, which is to pledge shares for loans.

”Aiken, I bring you a big business.” The first thing li Zitao did when he returned to Chicago was to invite Aiken to dinner.

“……” When he knew that Li Zitao wanted to borrow $400 million, Aiken almost dropped his fork on the table.

”What are you going to do?”

Aiken's first reaction is that Li Zitao is going to run away.

In this situation, what kind of business can use 400 million dollars? Is he going west to buy Los Angeles?

Li Zitao's favor for Los Angeles is clear to anyone who pays attention to him.