The final facts proved that it was not that Duqi was crazy or that Su Ze had a problem with his ears. It was that Duqi, who had seen from a teenager to a young man a few years ago, successfully became a billionaire that 99% of Americans needed to look up to in just half a year.

The experience Duqi said seemed legendary to Su Ze, but some of the information Duqi brought, especially Duqi's certificate of deposit, made Su Ze know that all this was true and made Su Ze quickly choose to agree to Duqi's employment.

In the next two days, with the attorney's certificate, Su Ze and Duqi signed an employment contract, and then began to issue an acquisition invitation with the bank where he had worked before according to Duqi's instructions.

William Jenkins, the owner of this bank, was already overwhelmed by the deficit caused by investing in junk bonds not long ago. Now, he has found that bankruptcy is the only result of the bank. So when Su Ze, his original subordinate, said he would come to buy it, he directly offered a price of one million US dollars, just to get the bank out of stock soon and return part of the funds so that he would not lose all his money.

However, Su Ze has been working in this bank for eight years and is very familiar with all aspects of it. He directly refuted William Jenkins' offer and showed the bad situation the bank faced, explaining to William Jenkins that he had no other choice, and should not think about the lion talking.

William Jenkins quickly realized that with Su Ze's existence, the bank had no secrets to the emerging buyers, so the other party would never become a sucker.

In the end, William Jenkins had to grit his teeth and agreed to Su Ze's conditions. He sold this small bank with only six business halls in Los Angeles and had just over ten million US dollars in management, and was renamed by Duqi to Shengshi Bank. The name of this bank seems to be a bit of a bad street in many online novels.

For Duqi, the name is not important to a company or a bank. Just like Apple, people's first impression is a company that sells fruits, not a computer company. Relatively speaking, the name Shengshi Bank is even more inspiring. Duqi believes that the reputation of the bank will become increasingly greater in the future and become a world-renowned bank.

The fastest way to expand the reputation of banks is to acquire mergers and acquisitions. In the last life, Duqi once read some information online and knew that since the early 1980s, many industries in the United States had set off a merger and acquisition frenzy, just like the media industry. There were more than 300 various media outlets in the early 1980s, and only seven or eight large media groups were left 20 years later.

The banking industry is also an industry with frequent mergers and acquisitions, because the US's booming banking industry encountered a long-term economic crisis, and many small and medium-sized banks are now unable to support it.

From 1980 to 1994, banks in the United States encountered a crisis, with a large number of bankruptcies and a disorder in the financial system. In recent years, 9.14% of banks went bankrupt, and more than 60% of banks were in the states where some bank crisis hit hardest, and California where Duches is now located is the hardest hit area.

A large number of banks have been concentrated in bankruptcy or merged and acquired in the past two or three years. Duqi now wants to use the capital in his hands to take advantage of this ride-hailing trip, acquire some capital-friendly banks, and absorb customer funds as much as possible. At that time, with enough funds in hand, it will be much more convenient to do many things in the future.

For this reason, Duqi is ready to spend a total of 100 million US dollars in the money earned through the silver crisis and invest it in Shengshi Bank, allowing Su Ze to find high-quality banks, and then Duqi decides whether to conduct mergers and acquisitions.

100 million US dollars is nothing to those big banks, but it is enough to do a lot of things. The current dollar is very valuable. If these funds are operated properly, they can at least expand Shengshi Bank to the entire California area.

The reason why we choose to directly acquire banks is to make the customer resources of these banks, and only by having enough customer resources can we have enough deposits and enough funds to form a sufficient scale, so that banks can play more roles.

The most important thing for banks is to increase assets, it is to absorb funds from depositors. Having a reborn gold finger, it is not too difficult for Duqi to increase assets. He has many methods. In order to absorb funds from customers, Duqi specially designed a set of solutions, which is also the inspiration Duqi got from Alipay, and the principle is also extremely simple.

In the United States, banks prefer large customers because the capital capacity brought by a large customer will even exceed one thousand ordinary customers.

But as a small bank, its scale and financial strength are limited, Shengshi Bank is obviously impossible to attract enough large customers. At least those billions and millionaires will not regard Shengshi Bank as their first choice. After all, there will be no gap between their own assets and Shengshi Bank.

So at the beginning, Shengshi Bank could only try its best to attract enough small customers, gather sand to form a tower, increase the scale of funds, and attract small customers' funds. Duqi chose the way to cooperate with money funds by deposits.

Due to the economic crisis, the Federal Reserve regulates bank deposit interest rates, and residents' deposit interest rates are lower than the inflation rate, and deposits have been depreciating.

In order to attract funds, banks launch large-rated time deposit certificates with interest rates higher than inflation. However, the starting amount of such time deposit certificates is relatively large, often with a minimum investment unit of 100,000 or million US dollars. Only a few institutional investors have enough cash to make such investments, and small depositors obviously do not have this qualification.

At the same time, there are also many small banks that use super high interest to attract customers' idle funds to deposit for more than three years. These long-term deposits are often attached to contracts and cannot be withdrawn in advance during the period, or the withdrawal must be made one month in advance, and they will also pay a serious price. In contrast, the interest rate for bank short-term deposits is still very low.

At the beginning, some people were indeed greedy for these high interest rates and chose to deposit long-term deposits, but in recent years, who is not short of money at hand? But when they need to use money, they are told that they cannot withdraw it, or they need to pay a price to delay withdrawing it. When they withdraw it, it is very likely that things can no longer be recovered.

After seeing the people you know around you suffer losses, ordinary people will become more cautious about the funds that are not much at hand, and it will be difficult for these methods to absorb enough funds.

Duqi's plan was to learn Alipay. Shengshi Bank directly established a money fund, called Shengshi Money Fund, which is specially invested in money market tools with low risk. It is different from other types of open-end funds. It gathers funds from depositors and invests in and purchases high-interest-rate regular savings products from large banks, thereby obtaining stable returns.

Banks recommend Shengshi Money Fund products to depositors, and use money funds similar to Yu'ebao to attract depositors to put money at Shengshi Bank and purchase Shengshi Money Fund.
Chapter completed!