So, on September 21, 2008, Morgan Bank and Goldman Sachs announced that they had obtained the permission from the Federal Reserve to transform from an investment bank into a commercial bank, and could directly absorb deposits from society. Everyone should deposit money directly into my bank and then use it to fill the holes in the subprime mortgage crisis!!!

This incident sounds very fantastic, because it was exposed from Morgan Bank that it would also be affected by the subprime mortgage crisis. It has only been less than half a month since the banking nature has been converted.

In just half a month, the two banks actually completed the most difficult procedures in history, which was to transform from an investment bank into a commercial bank.

This requires countless complicated procedures, requiring permission from dozens of relevant departments in the United States, and finally the commander nodded and approved by the parliament.

Logically speaking, such a tedious process is impossible to complete without two or three years, and this is God's blessing, and everyone will give you a green light. Anything that does not agree with one or two links is impossible.

But the two banks only took half a month to get it done, but the problem is that even if they transform from an investment bank to a commercial bank, it would be impossible to absorb $800 billion in deposits in a short period of time.

After all, the American people are now scared by the news of the bankruptcy of various large banks. They instinctively grabbed the small amount of money in their hands and wanted them to deposit the money in a bank that had already exposed their debt of 800 billion US dollars. This is impossible to think about it like this.

Fortunately, Rector Morgan also knew this, so he never expected to absorb $800 billion in deposits from ordinary people. Deposits naturally have other ways of origin and are very fast.

On September 23, it was only two days after Morgan Bank was transformed into a commercial bank. The US Ministry of Finance announced that it would deposit part of its budget to Morgan Bank, which was famous for its name. In order to ensure the safety of funds, the funds were distributed among various banks to avoid being affected by one bank.

So Morgan Bank directly obtained a huge deposit of up to $900 billion in the Ministry of Finance. Overnight, all the funding problems of Morgan Bank were solved, and the Ministry of Finance seemed to have forgotten the $900 billion problem. Until more than a decade later, there was no intention of withdrawing the $900 billion.

Well, the budget of the Ministry of Finance has always been a mess, and even the Minister of Finance can't figure it out...or the Minister of Finance is the person who is the one who is the most unclear in the Ministry of Finance.

After all, the Minister of Finance is one of the members of the cabinet, and the replacement of cabinet members is faster than the president. Almost every American president has to replace the Minister of Finance two or three times. The average working time of each Minister of Finance is only less than two years.

Are you likely to expect a Finance Minister who is born on elections and has nothing to do with mathematics to sort out the complex financial relationship and figure out all the current funding issues in the Finance Department within two years?

Even if there is really a talented person who has done this, the two years have arrived and they will basically have to move and change their careers. So the people who understand the finance department best are those civil servants in the finance department.

According to the American civil service system, these people basically have to stay in the Finance Department for the rest of their lives. They are those who know all the funds of the Finance Department. These people are friends of the Morgan Consortium, or they simply sent it directly to the Morgan Consortium. This is why Morgan Bank was able to quickly get a deposit of US$900 billion.

"I actually want to go to war with these monsters in the United States. I am really a lunatic!" Boss Jia, who came back from the disaster area and almost turned bronze in his body, looked at the latest news from the United States and exclaimed.

Seeing Rector Morgan turn his hand into clouds and turn his hand into rain, he gets $900 billion in funds in just a few words, and it is completely in line with the laws and regulations of the United States and there is no legal risk. At the same time, the entire US government is working together, as if Rector Morgan is their father, Boss Jia couldn't help but sigh whether he was stupid and actually wanted to confront Rector Morgan in the United States.

After all, I still have to work hard to make money, but Rector Morgan can transport money directly from the printing factory. Apart from not having the central bank's right to issue money, Morgan Bank is really no different from the central bank.

In fact, if we consider the countless pairs of eyes that the central bank is subject to at all times, Morgan Bank, which can directly obtain deposits from the Ministry of Finance, will have a much better life than the central bank in the United States.

"But in this way, our battery swap station can always be built with peace of mind!" He Xigua, who was also in bronze, sighed.

"Yes!" Boss Jia smiled and nodded. "God is still very kind to us. Rector Morgan's trouble is not over yet. They should not take care of us for the time being!"

Reckett Morgan's trouble is indeed not over. Although the Morgan Bank crisis was lifted, a bigger crisis has come. General Motors, Ford Motor and Chrysler announced almost at the same time that the government must save us, otherwise we will go bankrupt collectively.

These three automobile companies can be said to be the leading companies in the US automobile industry. They account for 80% of the US automobile industry and are also the three mountains in Detroit.

Among the top 500 companies compiled by Fortune Magazine, these three companies have never fallen from the top 10 companies. But in the blink of an eye, these three companies announced that they were going bankrupt. What the hell is this?

The answer is very simple, because the bank has collected the money.

In fact, these three automobile companies have long been insolvent because of their bloated corporate structure and declining market share, which has led to the three major automobile companies, GM, who almost relied on bank loans to live.

If they had no bank loans, they would have gone bankrupt 10 years ago, but they had been relying on blood transfusions from various investment banks and commercial banks to make them survive.

But this is also normal. Most domestic companies in China rely on various loans to survive. The more they involve physical industries, the more they are. That is, the two weird ones, Daqian and Apple, can achieve the point where the company has more cash to no financial management channels.

The US government is actually aware of this. Considering that the three major automobile companies have millions of employees, if these three companies go bankrupt, the US Congress will collapse instantly. Therefore, these loans were instructed by the US government to let banks not care about the repayment ability of these three companies, and just give money, as long as the government pays it.

This further made the three major automobile companies become arrogant. Anyway, with the government's guarantee, there is no problem no matter how much I want to waste money. For example, the giant crystal chandeliers on the lobby of General Motors, which claimed to be worth US$300 million, were installed proudly when General Motors lost tens of billions of dollars a year.
Chapter completed!