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Volume III Aftermath 5 Rich Nation Expands Again

(Sorry, the last chapter made Chapter 4 the third chapter!) Change it every day! ）

Compared to the national average of 19 percent of bank failures, California's 4 percent bankruptcy rate is a paltry factor. The reason for this is that California's banking industry has a branch system.

Wells Fargo is one of them. It has built 30 branches in major cities in California, not to mention its strength, but more importantly, each branch is like a bank risk firewall, and an accident in one branch will not affect the normal operation of other branches. For example, Wells Fargo is like a big ship, and each branch is like a watertight compartment, even if a few watertight compartments are broken, as long as the specified number does not exceed the specified number, the big ship can be guaranteed to be unsinkable.

Unlike the branch system that prevailed in California, the eastern states of the United States had a unitary banking system, which was the only one, and there was no other semicolon.

This has something to do with the American system, because after the founding of the country, each state retains a large degree of autonomy, and the people generally oppose public power, and the states oppose the strengthening of the federal government, and do not want the federal government to control the states financially, so even the country's central banking system does not exist.

It wasn't until shortly after Situ Nan's crossing that the freak of the Federal Reserve appeared. Americans who are superstitious about self-government prefer to nest in their own acres and thirds of land and do not like others to interfere. The same is true when it comes to banking, for example, now Wells Fargo can't go to Nevada next door to open a branch, but only in California.

Of course, the specific restrictions are different in each state, so the way to deal with them is a little different.

Since most of the banks in the east are single banks, if a bank is not doing well and there are no branches to take risks, it is natural that the bank is likely to go bankrupt.

After fighting a world war, the influence of the federal government has increased. A large number of bank failures are a headache for the White House. President Woodrow? Wilson was very supportive of California's branch system.

But Woodrow? Although Wilson supports the branch system, he does not support Wells Fargo. In addition to Wells Fargo, there is another powerful bank in California, which is the Italian Amadi? The Bank of Italy, founded by Giannini, was the forerunner of Bank of America, the largest commercial bank in the United States.

With his strong support, Wells Fargo became the largest bank in California and the leader of the western banking industry, but history always has its stubborn side, although the Bank of Italy was robbed of the first position in California, but it still developed rapidly, and in just a few years, it opened branches all over California's major cities.

"Those guys in the White House know that they are biased in favor of that Italian, and they are also building a branch system, so why can't they support our rich country?" Dennis? Fargo said jealously, a little indignant when he talked about the Bank of Italy, "Is it like those cowboys on the Rocky Mountain, Woodrow has the passion to say about that Italian?!" ”

Situ Nan couldn't help laughing, Dennis's mouth is really poisonous! If it gets out, it's estimated that someone is going to duel him.

"You know, just as Washington doesn't bird New York, the White House has always been averse to the Consortium, Woodrow? It's normal for Wilson to fall in love with Amadie! After all, Wells Fargo is not the same as the Bank of Italy. We're not the kind of bank that can become shareholders for a dollar! ”

Situ Nan said with a smile. In fact, is it no wonder that Dennis vs. Woodrow? Wilson complained that with official support, the Bank of Italy had assets of nearly $100 million and 24 branches, just a little less than the 30 Wells Fargo branches. The rapid expansion of the Bank of Italy poses a threat to Wells Fargo in every way.

Last year, the Bank of Italy had only nine branches and total assets of $50 million, which doubled in just one year, which is an astonishing speed.

The Bank of Italy is in the limelight with Wells Fargo. Speaking of which, Wells Fargo has a lot more advantages than the banks of Italy, and the companies owned by the William consortium were high-quality customers of the bank during the war, so Wells Fargo was able to succeed from the investments of Bethlehem, Occidental Petroleum and Stoney Foods.

At the same time, Guò cooperated with Robles Securities to run a war bond business, and made a lot of profits in the securities market, coupled with Wells Fargo's reputation in California and Dennis's intelligence, which led to the miracle of Wells Fargo's assets doubling during the war. Speaking of which, this is still stained with the light of Situ Nan's "crossing".

But this is not the case with the Bank of Italy, which has doubled at a rate as fast as Wells Fargo, thanks to the poor man's bank, which absorbs a large amount of people's deposits, and almost every depositor is a shareholder of the Bank of Italy.

Well, this also has to do with the fact that the Bank of Italy has no shelf and is close to ordinary people. Italian banks do not dislike a few dollars in business, and they are also considerate to their customers, giving loans in the tens or hundreds of dollars to those hawkers or farmers. Especially the three or four hundred thousand Italian immigrants in California, Italian farmers prefer to keep their money in Italian banks.

It is indeed unrealistic to let rich countries become lower ribas! Although Wells Fargo has always emphasized customer-centricity, and the bank staff does not want to be like other banks, and also has deposit and loan business with ordinary customers, it is not as meticulous as the Bank of Italy, and still prefers to do business with rich people and lend to related large enterprises.

Thinking of this, Situ Nan couldn't help but say to himself: "It seems that the future financial king is really amazing!" ”

"What do you say? What kind of future financial king? Dennis asked curiously.

"Nothing!" Situ Nan realized that he had almost leaked the secret, and hurriedly said, "How about you say we go to buy shares in the Bank of Italy?" Let's take a stake too! ”

"No, it's unlikely! I know the Italian, he's not going to accept a stake in Wells Fargo. I've heard that no major shareholder is allowed in his bank! Dennis shook his head and said, "Our rich country has its own plan, and every penny is precious now, how can we distribute it to our competitors?" ”

"Alright! I'm just talking. Situ Nan smiled, he remembered "Later" Amadi? In order to compete with Morgan for control of Bank of America, Giannini gave a series of speeches throughout the United States, and got millions of Americans (all of whom are small shareholders of the bank) to vote for him as chairman of Bank of America, which is similar to running for president, but in the end he succeeded.

It's too hard for a crazy and rebellious person to control him, and he's smart.

Let's run Wells Fargo well! Even if Amadi acquires Bank of America in the future, rich countries will still be able to suppress it.

Situ Nan thought confidently. As the rich country grew, so did his disheart for Amadi and the future of the Bank of America.

"Tell me about your plans! I know you've been eyeing Nevada, Arizona for a long time! "Situ Nandao.

Under the impetus of the federal government, the restrictions on banks in several western states have been loosened considerably, and banks from other states have begun to open branches in their own states.

This is a step forward, and the branch system is also the trend of the bank's development. And that's just a few of the states in the west with a relatively short history, such as California, Nevada, Washington, and New Mexico.

"Hmm. I don't plan to open any more branches in California, and now Wells Fargo's bank branches are fully covered by large and medium-sized cities in California. Funds should be directed to the wider neighboring states. Dennis pulled out a map filled with dots in red pen that looked like the future Wells Fargo branch.

"You see, Las Vegas, Phoenix, Salt Lake City, Denver, Seattle, Portland?? I'm confident that we don't have many strong opponents in the west other than that pesky Italian. Now that a large number of banks have failed in several surrounding states except California, I think it's a good time for us to strike and turn them all into our branches! ”

Dennis tapped his finger firmly on the map, looking invincible. The two of them have long agreed on this issue.

Situ Nan calculated that there were at least fifty or sixty red dots, which means that fifty or sixty branches would be opened in the future, and it was estimated that it would cost hundreds of millions of dollars. It's not an easy task!

"Don't rush, take it one step at a time. We have a lot of time. Those guys in the east don't have that much to reach into the west. Situ Nan encouraged, "Dennis, I'm sure you'll succeed!" ”

Then he mentioned a Jianyì, "For those states that are restricted by law, let William Financial Holdings come forward!" They don't allow us to set up branches, so let's become the holding bank of William Financial! At the end of the day, sooner or later it's all meat in our bowl! ”

"You're right! It's all our meat! Woodrow? Wilson's grandsons couldn't stop our footwork. Italians can only eat farts behind our backs! Let them all go to hell! "Dennis? Fargo was excited and couldn't help but speak wildly.

As soon as he said it, Dennis launched an acquisition in Nevada. Mr. Stuart also began to investigate the banking industry in Utah, New Washington, and Colorado, and was preparing to acquire a number of low-cost banks in several large cities, such as Salt Lake City, Seattle, and Denver.

Although he may not have too many shares in each bank, or even a controlling stake, Situ Nan is confident that he will build a Western Banking Alliance with Wells Fargo as the core and William Financial Holding Company manipulating the Western Banking Alliance behind the scenes.

In fact, it was not until September 1994 that the U.S. Congress passed the Rigger-Neill Interstate Banking and Branches Effectiveness Act, which allowed commercial banks to set up branches across state lines, declaring the abolition of the unitary banking system in the United States.

Wells Fargo is destined to work in the West for decades. This is a Wells Fargo restriction but also a protection. Mr. Szeto wanted to see Wells Fargo live to be at least 100 years old if it wanted to open branches in every state in the United States.

??

It is worth mentioning that in addition to Wells Fargo, there is another special bank in California, which is the American-Chinese Bank, which is affiliated with the American-Chinese Company. The Bank of America and China mainly serves Sino-US trade, is the settlement center of the United States and China, and is also the foreign exchange bank for Chinese immigrants in California, mainly covering San Francisco, Los Angeles and Sacramento, three cities where Chinese live, and a large amount of foreign exchange will be remitted from the United States to Guangzhou, Jiangmen and other overseas Chinese hometowns every year.

Although the U.S. economy is in recession, but the Sino-US trade volume is rising, the U.S.-China Bank, with the support of some funds from William Financial Holdings, expanded its business to Hawaii, and at the same time opened branches in Singapore, the Philippines, Malaya and other regions in the South Seas, investment and trade are not wrong, like a net to gather the funds of Chinese scattered all over the world.

"If only those Chinese saved some money and put it in Italian banks! We are the bank of the poor, but why can't we attract them? ”

The streets of San Francisco, Amadie? Giannini looked at the endless stream of American-Chinese banks not far away and said regretfully. Before returning to the Bank of Italy, he looked back at the Wells Fargo building in the San Francisco Bay Area and felt a sense of depression.

"Since the change from Wes-Fargo to William-Fargo, it doesn't seem to be the same at all." Amadi? Giannini muttered, smiling kindly at the rustic Italian peasants who walked by.

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