[Chapter 505: Adding to the trouble]
A group of old-timers still held onto their dreams. They had already made a lot of money but wouldn't mind making even more. Of course, they also despised William White. You don't work hard, but you still want to get benefits.
However, it didn't take long for their laughter to fade.
Restrictions on short selling weren't a big deal; the money they made in recent days was measured in billions. But restricting loans for land and property? That was terrifying. How would they recover their funds in time?
Someone suggested, "Just sell off your holdings. The policy isn't in effect yet."
"Oh please, if it were that easy, anyone could be a financial shark. As soon as the word gets out, small financial institutions would back down in a hurry. And the big ones? They've already seen the writing on the wall. A 60% discount is fine, but a 30% premium?
What were they thinking? This loan would never get approved.
Inside Goldman Sachs, things were naturally far from harmonious. At least, this department that wanted to monopolize everything made a lot of people grind their teeth in frustration. Everyone was partners, so why should they get the meat while others were left with scraps? That made no sense.
Goldman and Morgan Stanley were very selective, not keen on sharing profits. When trouble arose, nobody was around to lend a hand.
William White was deemed unworthy to join the fray and he didn't see eye to eye with the Federal Reserve. People like Buffett and Soros didn't become the center of attention for this event either.
Was it due to their lack of qualifications? Perhaps, but they hadn't reached the levels of Morgan Stanley and Goldman Sachs.
Morgan Stanley wouldn't even be mentioned; it was a miracle in American finance. No matter how great the storm, they stood tall.
As for Goldman Sachs, their most successful feature wasn't the dual CEO system. It was their partner system.
Yes, just like those law firms, once you became a partner, you still had to look out for your own interests though you were mindful of Goldman's too; Goldman just provided a platform.
This policy looked good on the surface; it appeared Goldman was stirring the pot, but in reality, just one department was responsible for it.
The project could operate smoothly; you reaped the big rewards while Goldman earned a management fee. But if things didn't go as planned, you could bow out yourself.
"Sir, it seems Goldman is starting to budge. Now there's news that limits will be put on loans for assets related to land."
"Heh, now they want to take cover. Why didn't they give me a heads up earlier? Tell them the risks are too great, and I'm having a little trouble with my funds. Considering that the economic crisis in their region might affect America, NBC might do a special segment. Ask if they can cooperate."
Filson was taken aback; what was the boss up to?
Was this taking unfair advantage?
"Sir, the general topic is..."
"When a massive stock market crash happens, one can't underestimate the role of government policy. Some temporary regulatory measures are certainly necessary. Looks like I need to read up on Keynesian economics."
"I got it, sir. You're supportive of the upcoming regulations in their region."
"Ha ha, for now, I'm cautiously optimistic. What comes next? I still need to step up my learning."
Filson understood that the boss was not only ungrateful but also planning to kick them while they were down. How far he pushed them would depend on their performance.
Once the news got out, the expressions on the old-timers' faces would tell the story.
Of course, that so-called exclusive interview was nonsense. As long as William White wasn't insane, he would never go through with it. If he did, he would offend too many powerful forces.
Sabotaging from behind the scenes was hardly a problem. Maintaining a facade of unity was still necessary.
William White knew very well that what he was playing at amounted to harming others without gaining anything for himself; it made no sense.
...
"Boss, are you planning to retire?"
"Ha ha, I'd like to retire. But someone's gotta keep earning to support the kids!"
"Stop talking nonsense. They say you have a hundred billion bucks to raise a kid. You can't possibly need that much money to roll around!"
"If my kid only knows how to spend money, then there's no hope. All I can do is ensure they're well-fed and clothed; nothing more."
"Geez, no wonder you're setting up so many family funds. I see how it is."
"Ha ha, earning money isn't easy, but squandering it is. Just because things look rosy now, if the next generation doesn't rise to the occasion, then what good is all the money in the world?"
Jason thought about it; he had just gotten married. William White's issues were also his concerns.
"Alright, I guess I need to start preparing too. Enough about that. Boss, my family has decided to move to Melbourne to develop. I saw a high-end apartment and am ready to purchase it."
"An apartment? You're going to live in an apartment in Australia? What were you thinking? A villa would be much better."
"Don't I know villas are nice? That apartment building is by the Yarra River, and the commercial area nearby is decent too. Besides, isn't an apartment safer?"
"I'm telling you, gun control in Australia is stringent. This isn't San Francisco. Safety isn't an issue."
"Boss, are you sure? There's a casino nearby, and I was looking out for the building's security."
"Don't even sweat it. Melbourne isn't Vegas; they're just playing around, not professionals. There's a big difference. I recommend your family can move there and test the waters first."
"Right, that's a good idea. Melbourne's not too humid; no real need to live in a high-rise."
*****
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