Wow.

The run on Redwood Community Bank and its collapse into bankruptcy is not a small piece of news in San Francisco, and there are quite a few reporters who came to the press conference this time. They didn't hear the news that Robert had filed for bankruptcy, but they heard more surprising news, and the reporters below suddenly became excited.

Savvy journalists immediately realized that this was going to be big news.

"Excuse me, Mr. Robert, can you tell us a little bit about Huamei Holdings?" Huamei Holding Group injected capital into East West Bank and took out a billion dollars at once, this wealthy financier, everyone has never heard of it before, and can't help but be very curious.

"Sorry, today's press conference is only about East West Bank. I would like to ask depositors to have confidence in East West Bank that their deposits are safe with us. Robert quickly changed the subject, his boss is Chinese, and he knows very well how much trouble this news will cause if it leaks out, and may even cause a new crisis in East West Bank.

To the American people, China is a mysterious country, and they have the impression of backwardness and poverty. If you put your money in a bank opened by a person from such a country, you will be even more worried about the safety of your savings and cause even more panic.

So.

Robert wisely chose to avoid the reporter's question, instead drawing the reporter's attention to East West Bank.

……

Soon.

That concludes the press conference.

"Hey, why did the bank change its name, my deposit ......" Anderson is a transport worker, his deposits are all in the Redwood Community Bank, since the run on the Redwood Community Bank, he has been running every day to withdraw money, but it has not been successful, he is told that there is no penny left in the bank. Despite this, he still came every day to inquire about the situation, hoping that a miracle would happen.

Anderson anxiously rushed into the business hall of East West Bank.

"Excuse me, is this the Redwood Community Bank?" Anderson asked anxiously.

"Yes, it used to be Redwood Community Bank, but now it's been acquired and renamed East West Bank." A staff member at the bank patiently explained to him. After a pause, he said, "You're a regular customer of Redwood Community Bank, here's an announcement for you to take a look at." If you have deposits here, we at East West Bank will keep them safe. ”

Forehead.

Anderson subconsciously took a notice from the staff.

The content of the notice is very simple, similar to what the staff said, nothing more than that Redwood Community Bank has changed its name to East West Bank and guaranteed the safety of old customers' deposits.

"Then I...... Can I withdraw money now? Anderson asked expectantly.

"Absolutely. If you want to withdraw money, please provide your bank card account! The counter staff replied very politely.

"Okay."

Anderson was a little stunned, he didn't expect that he could really withdraw money, so he came back to his senses and quickly took out his bank card, saying that he would withdraw all the money.

After two or three minutes.

Anderson got all the money, a total of 26,700 dollars, and his heart immediately settled down with the money.

……

The news spread very quickly, and many old customers of the former Redwood Community Bank rushed into the business hall, crowded to the counter window, and shouted for withdrawal.

"Don't crowd, please line up." Looking at the chaotic crowd, Robert frowned and hurriedly called the staff to maintain order, but in order to get the money as soon as possible, no one listened to the advice, and they all frantically squeezed towards the counter, lest they would be disappointed if they were one step too late.

Helpless.

Robert can only call the police and notify the police to maintain order. He understands that the number of depositors who come to withdraw money is only a small part, and he is afraid that there will be many more in the future, and if he does not invite the police to come and maintain order, if there is an accident, the consequences will be unimaginable.

Shifts over time.

As Robert expected, more and more depositors rushed to withdraw their money, and even the two police officers who were maintaining order at the scene were struggling and had to call for backup.

The scene, the mess.

Not.

Hearing the noisy sound outside, Tang Bao couldn't help frowning, the bad impact of the bank run was really difficult to eliminate all at once. The reopening of East West Bank was a bustling affair, but it was a pity that depositors rushed over to withdraw their deposits, rather than depositing their money. He also understands that this is the first hurdle that East West Bank will have to deal with, and that it will be able to get back on track if it gets through it smoothly.

"Boss."

Robert hurried back to his office.

"Something?"

Tang Bao said suspiciously.

"Boss, the situation is not good now, everyone is frantically withdrawing deposits, even if there is a billion dollars of circulating funds you have injected, it will slowly become urgent. It is estimated that our bank has about $1.7 billion in user deposits, and if depositors come to withdraw their money, or if depositors don't stop withdrawing after we run out of $1 billion in cash, East West Bank will be in crisis again. Robert anxiously told Tang Bao the current situation, he was really very anxious, although the bank had been sold, not his, but he didn't want to see his hard work just get a new life, and quickly walked into the abyss.

"It's okay......"

Tang Bao said with a calm smile, his funds are enough to deal with the situation of East West Bank, even if it is really as Robert said, it is a big deal to inject funds again, at most the depositors' $1.7 billion have all been withdrawn, how bad can it be? Moreover, a bank run is a credit crisis, and once depositors see that East West Bank has enough funds to pay for user withdrawals, the panic and distrust will slowly disappear, and the crowd will inevitably disperse.

Why did East West Bank open its withdrawal business to old depositors after it reopened, and even if there was a run, it did not make any announcement, did not take any measures, but just tried to meet the withdrawal requirements of depositors, and gave as much as they wanted, without any delay.

Because this is the best opportunity to rebrand East West Bank, no matter what you say or do, it's not as convincing as real money.

East West Bank did not rush to repay the loan in advance and did not raise the deposit rate......

It's business as usual.

Tang Bao wants to use this most simple and violent method to tell you the fact that East West Bank has enough funds to deal with everyone's withdrawal business, and there is no shortage of money!

"But ......"

Robert wanted to say something, but couldn't.

"Don't worry about money, Robert, you have to understand that if you do anything to restrict withdrawals now, it will not be good for the future development of East West Bank, and it will even deepen the wariness and fear of depositors, and they will be more determined to withdraw their deposits." Tang Bao said lightly, as if everything that happened outside had nothing to do with him.

Hear the words.

Robert also had to admit that Tang Bao had a point.

"Boss, I know what you mean, this can indeed establish the brand image of East West Bank, but it may also permanently lose a lot of customers, you have to understand that depositors have withdrawn their money, and they can't just go home with cash, but instead deposit their money in another bank. It's not easy for us to win over these customers. Robert said.

There was a moment of silence.

Tang Bao asked, "How many windows are open for withdrawal business outside?" ”

"We are the head office here, and all ten windows are constantly processing users' withdrawal requests. In addition, other branches also called to report that the situation was basically the same as here at the head office, everyone was withdrawing money, and they were afraid that they would not have money to withdraw if they were one step too late. Robert replied.

"Hmm."

Tang Bao nodded understandingly, and also understood why Robert was in a hurry, and said with a smile: "They are so crazy about withdrawing money, it is just that they feel that there is no money in the bank, as long as we can prove that we have money, depositors will not withdraw money so irrationally." Large-scale run-outs will alleviate or even disappear...... So, Robert, you tell the front desk staff to take the cash out of the safe and place it on the counter. ”

Hear Tang Bao's words.

Robert's eyes lit up instantly, yes, he didn't think of such a simple method. Aren't you afraid that the bank will run out of money, so I'll just put a wad of dollar bills on the counter and let you see if the bank has no money.

"Boss, I'll do it right away." With that, Robert rushed out like a smoke.

……

Then.

There was an astonishing and envious scene in the head office and branches of East West Bank, and the staff of the bank, who placed a wad of dollars on the counter, fell to the top of the high, and soon overtook the head of the staff who sat at the counter to handle business.

Soon.

In front of all the counters of East West Bank's head office, there are neatly stacked dollars more than a meter high, and the rows of brushes are very dazzling.

The crowded and riotous depositors fell into a stupor in an instant.

To be honest, if it weren't for the thick glass windows in front of them, many people would have rushed over and robbed them desperately.

Seeing so much money, everyone suddenly quieted down and stopped crowding.

"Whew."

The police chief, who was in charge of maintaining order, suddenly felt a lot more relaxed, wiped the beads of sweat from his head, and jokingly said to the staff of East West Bank, I can't help it. Instead, he reported the situation of East West Bank to the police station and continued to call for support to prevent criminals from robbing the bank.

After putting the money on the counter, the East West Bank man only said one sentence, "Please line up to withdraw money, don't crowd!" ”

Then.

So I buried myself in my work.

"Withdraw money, withdraw a fart, so much money, does East West Bank look like bankrupt?"

"I have to go to another bank to deposit it when I take it away, it's too troublesome......"

……

The riots are gone.

Many depositors who blindly wanted to withdraw their deposits were blinded by the small mountain of cash that East West Bank had put up, quickly settled down, and even resolutely went home and gave up withdrawing. Even some depositors, who continue to want to withdraw their money, have become calmer and have lost that sense of urgency.

Call.

And it worked......

Robert felt relieved when he saw the crowd gradually disperse.