The time for the exchange was short, and all the influential bankers in the United States gathered here not for the sake of the mountains.

After everyone was seated, the meeting quickly cut to the chase about the enactment of the Bank of America bill and the strengthening of the Federal Reserve's authority to formulate and implement monetary policy.

"Roosevelt's tightening of capital's grip on America was about to begin. Li Zitao kept smiling, but he was thinking about the benefits of this matter to him.

Roosevelt was a representative of the big capital consortium, and he was a member of it, so there was nothing wrong with seeking welfare for capital.

Moreover, to drag America out of the quagmire, without these capitalists, it may be easier to dream of a Washington that cannot run any business.

Now he wants to strengthen not only the Fed, but also the president, and Marina Coles is his partner.

The enactment of the Banking Act also represents the end of the era in which banks operate multiple businesses, and the boundaries between commercial banks and investment banks are demarcated.

"The current banking law is not clear about whether banks can operate other financial businesses other than deposits and loans, securities, insurance and other businesses, the Ministry of Justice and the Ministry of Finance are in dispute, and the Federal Reserve is under the supervision of all parties, so it is completely unable to play its due role, and we should ...... for the healthy development of the banking industry."

Marina Ikos's language was forceful, and the occasional wave of his hand between his speeches strengthened his insistence and affirmation of his words.

However, everyone present is also an old fox who has been cultivating for many years, squinting their eyes one by one, as if they are enjoying a nap in the afternoon sun.

The division of management rights is not intended to harm the interests of everyone, but it also creates new market vacancies, makes competition more intense, and new institutions spring.

This is good for the whole market, but no one wants to make a first bird.

In particular, there are a few companies that have set their sights on Morgan Jr., and the most affected of them is naturally JP. Morgan, and no one is more complicated than its business.

Over the years, JP Morgan has avoided being forcibly broken up by Congress, and for no reason, it is not because once the split, there will be a gap in the original market, so that some institutions or lucky people who have seen the seams can get the benefits that should belong to them.

At the same time, it will also increase their operating costs, and the overall operation of the company will not be as smooth and seamless as it is now.

Li Zitao also remained silent, he was the youngest and the youngest in the scene.

Look at the people here, advisors to the Treasury Department, advisors to the Department of Justice, the president of the New York Stock Exchange, the president of the American Stock Exchange, Goldman Sachs, JP. Morgan, Merrill Lynch, Lehman Brothers...

Lehman Brothers is now in the limelight, helping to establish the New York Cotton Exchange, gaining a trading seat on the New York Stock Exchange, underwriting stock offerings, managing the first RB government bond offering, underwriting $1.5 RB Treasury bonds, preparing funds for the Great Kanto Earthquake, etc., Lehman Brothers is thriving in the international market, especially RB.

Who would have imagined that this investment bank, which has a strong capital and a long history, would be forced to file for bankruptcy in the future due to various complicated reasons.

Regarding the bankruptcy of Lehman's later generations, there are many opinions on the Internet, and experts also appear to say it twice in three days, but how it is, Li Zitao now thinks that it is not so simple.

There must be other reasons why the Fed didn't fund it, why Washington allowed it to go bankrupt, and why Morgan contributed to it.

It can't be that everyone looks at Lehman and then sits back and watches it die, right?

This time, it is necessary not only to redefine the scope of business of banks, but also to abandon the gold standard and establish a federal deposit insurance system to prevent the recurrence of the run.

This matter cannot be solved in a day or two, Li Zitao lowered his profile and decided to be a good student, listen more, watch more, and never speak.

Fortunately, no one at the scene asked him questions, and even little Morgan, who he was most worried about, did not have time to deal with him now, and was busy trying to find a way to avoid the birth of the new law on business division.

Li Zitao is happy to be relaxed, it would be great if he could have a glass of wine and a plate of fresh sashimi.

At 10 o'clock in the evening, the meeting ended on time, Li Zitao and Little John walked out together, and were talking about their respective opinions, when little Morgan caught up.

"Charlie, what do you think of the bill that the chairman is talking about today?" asked Morgan Jr. bluntly.

"What can I think, there are many banks under the name of Li Holdings, and the division of management rights can allow those small banks to go further. Li Zitao smiled casually.

"Then you are in favor, aren't you worried about the rich country?" asked little Morgan with squinted eyes, a little anxious in his heart, he needed to gather all his strength as soon as possible.

"That's a bit of a problem, right. Li Zitao turned his head to Little John and smiled: "Uncle John, Chase's business is all about savings, right?"

"According to the new wording in the bill, it should be commercial banks. Little John would smile and make little Morgan's face darker.

"I hope you don't regret it. With that, Morgan Jr. hurried away, he needed to contact the others to see if he could win over collaborators.

"I really don't know what they're still holding onto?" Li Zitao said with a speechless shrug.

"As soon as the situation is broken, the position of J.P. Morgan will be shaken, and they, of course, will be in a hurry. Little John looked at him deeply and said meaningfully.

Li Zitao hadn't reacted yet, but when he walked on the road and savored it, he roughly understood what Little John meant.

JP. Morgan is now a well-deserved boss, and if he is divided in two, it will be equivalent to the division of the rich man in ancient times, and his power will naturally be much worse than before.

After the separation, it is inevitable that there will be filth, "Hey, this is really interesting!"

The more I pondered about it, the more interesting Li Zitao felt, it seemed that he had thought too simple before.

For the next three days, Morgan Jr. was trying to find a way to win over the alliance.

At first, there were still people who stood with him because of concerns, but as time went by, everyone saw the benefits of this, and if they didn't split Morgan, they would have a bright future.

Fierce competition also means a more active market and greater profits, and if Wall Street is always the same as it is now, like a pool of stagnant water, they will not starve to death sooner or later.

When it came time to make a statement, the situation showed a one-sided tendency, and Morgan Jr. also knew that the general trend was coming, and the next thing to think about was the future.

Sitting in Morgan's position, you will never easily regret or get angry, the matter is a foregone conclusion, then find a way to reduce losses and make greater profits from it.

Whether JP. Morgan wants to go through the comptoir or the investment bank, this is the next focus.

The meeting lasted for five consecutive days, and the specific rules and regulations of the new banking law and the upcoming financial regulator in Washington were all produced in the process of weighing.

Completely beating him to death with a stick is tantamount to turning against all the financial giants, and Roosevelt could not do this.

But allowing the market to develop freely as it did in the past is undoubtedly detrimental to the future of the United States.

Listening to the old foxes, you and I are arguing sentence by sentence, Li Zitao has learned more in the past few days than in previous years.

At least he now looks at the problem, no longer simply from his own position, the company's position or short-term interests.

"Only a strong America can bring more benefits, and at the same time protect these interests from being violated, this world, after all, is a big fist. On the night the meeting officially ended, Little John patted him on the shoulder meaningfully.