v3 Chapter 871： The position of the Federal Reserve and the Treasury Department (1/2)
”The situation has reached the terrible point it is now, and I don't think the government would want to see us go bankrupt.”
For a long time, the words of a director broke the silence.
The corner of the mouth of Tendler Wells, who was sitting above him, raised slightly, and glanced at the person who spoke vaguely.
Kester Phillips lifted his spirits and immediately said: ”Yes, now the government has finally managed to curb inflation. Our company's bankruptcy has the greatest impact on the government. I suggest to see G. William Miller immediately.”
What he called G. William Miller is the current Secretary of the Treasury of the Carter Administration.
Not only that, G. William Miller also served as the only non-Jewish chairman of the Federal Reserve from 1978 to 1979. Although he only served for one year, he also has a lot of close relations with the Federal Reserve.
Since the Hunter family's speculation in silver futures is about to go bankrupt, the Fed can be forced to borrow 1.1 billion US dollars to tide them over. Why can't Philip Brothers?
Thinking of this, Kester Philip was ready to move, his eyes swept across the faces of several bank directors.
In particular, the directors assigned by Bear Stearns are the focus of Kester Phillips.
If you want the U.S. Treasury Department and the Federal Reserve to help, it is best to let a group of investment banks come forward. This probability is the greatest.
Bear Stearns is a Jewish company. Although Philip Brothers is also a Jewish company, its internal forces have been mixed and its strength is far inferior to the former. It is certainly not as good as Bear Stearns.
Bear Stearns has borrowed more than one billion U.S. dollars to Philip Brothers. If Philip Brothers goes bankrupt, in addition to the Philip family's biggest loss, the second largest company is definitely Bear Stearns.
Feeling the eyes cast on him, the directors of Bear Stearns turned black, and his eyes swept across the faces of the people coldly, and said in a righteous voice: “You don’t need to look at me. It’s a good idea to find the Ministry of Finance or the Federal Reserve The solution, but Bear Stearns alone is absolutely impossible to solve, everyone must come forward together!”
After speaking, he looked at the headed Tendler Wells and said: ”Wells, the company also has large-scale lending business with other investment banks. I suggest you let them come with us.”
Tendler Wells, who achieved his goal, smiled and nodded and said, ”No problem, I don't think they will refuse.”
”Then don't waste time, discuss the specific steps and act as soon as possible.”
Kester Phillips urged impatiently.
The people who reached a consensus immediately discussed it, and soon a complete implementation plan was formed in the mouth of this group of elites.
After the meeting, many people rushed to their company immediately, intending to report the real situation of the meeting.
Looking at the empty conference room, Tendler Wells looked worried, came to the floor-to-ceiling windows, looked at the New York Mercantile Exchange in the distance, and muttered: ”I have done what I can do last. If none of this can be resolved, then Philip Brothers will really have to go bankrupt.”
...
”Miller, long time no see.”
”Volcker, it looks like your spirit is great.”
After greeting each other, G. William Miller followed Paul Walker to the living room and brewed coffee.
”Miller, they have already looked for you? Did you come as a lobbyist?”
Paul Walker said with a smile.
He knew that the Treasury Department hadn’t made any big moves near the most critical period of the general election. Now G. William Miller came to visit him suddenly, except for the Phillips Brothers company, he couldn’t think of anything else. .
”It seems that they have looked for you too.”
G. William Miller smiled faintly, then asked with concern.
”Volcker, what are you going to do?”
Paul Walker smiled, did not answer directly, and asked, ”You came with the idea of the White House?”