Chapter 233 Run on Tide

"Give me back my money, I want to take all my money?"

"Guest, you are handling a regular savings business. If you withdraw cash in advance, you will lose a lot of interest..."

"I don't care, I'd rather have my money without interest, return my money to me quickly..."

...

Since last night, the news has successively reported the debt relationship between the Union Bank of Japan and the Seibu Group, and Muddy Waters’ latest research report has issued a serious warning about the bad debt problem of the Union Bank of Japan. Early the next morning, The outlets of the Union Bank of Tokyo were crowded with customers who came to withdraw money. As soon as the stock market opened that day, the share price of Union Bank of Japan hit the limit directly.

After the incident of Seibu Group, the research report of Muddy Waters has become a short-selling guide in Japan. As long as the companies Muddy Waters pays attention to are all shorted by mysterious organizations without exception. However, Muddy Waters' report only emphasized the debt problems and financial fraud of their research subjects, which were all researched through public data. Moreover, Muddy Waters is a foreign company, and Japanese regulators have no right to shut up this Swiss company.

Now the whole of Japan knows that the Union Bank of Japan has lent a loan of 400 billion yen to Seibu Group. Many investors doubt whether the loan can be repaid. After all, this is one-fifth of the total assets of the Union Bank of Japan. Once the loan cannot be recovered, the Union Bank of Japan must go bankrupt.

It is precisely because of the close relationship between the United Bank of Japan and the Seibu Group that the debt crisis of the Seibu Group triggered a run on the United Bank of Japan. As a bank with business outlets all over the Japanese archipelago, there were long queues in front of the major business outlets of the Union Bank of Japan, and many office workers even asked for leave to go to the Union Bank of Japan to withdraw the money. It is not easy for everyone to make money. If the Union Bank of Japan really goes bankrupt, many families will lose their life savings.

Unprepared, some of the smaller outlets of Union Bank of Japan ran out of cash quickly, and calls to the headquarters for help were made from all over the country to Tokyo. The board of directors of the Union Bank of Japan held an emergency meeting to discuss the solution to the run on the bank. In the face of the nationwide run on the bank, the Union Bank of Japan was simply unable to solve it. At the end of the meeting, everyone just came up with two solutions. One is to withdraw the loan from Seibu Group in advance to supplement the bank's liquidity, and the other is to seek help from other banks, and they would rather pay more interest for short-term borrowing from other banks. Part of the funds will not prevent the depositors standing in front of the counter from withdrawing their money. It is only the first wave of runs. If the Union Bank of Japan fails to pay, more depositors will surely join the army of runs.

After the meeting, the president of the Union Bank of Japan simply went to the hospital to visit Yoshiaki Tsutsumi who was ill. But when he arrived here, Tsutsumi Yoshiaki's ward was already full of presidents and executives from major banks in Japan.

Seibu Group's stock has been suspended for a week,

Yoshiaki Tsutsumi's net worth has shrunk by nearly a third. But now Seibu Group has not announced any effective measures to restore its stock price. The liabilities of the Seibu Group have also exceeded the company's net assets, and now the bank that lent money to the Seibu Group has long since regretted it. What if they are afraid that the Seibu Group will really go bankrupt?

Hearing the moaning and sighing outside the ward, Yoshiaki Tsutsumi felt very upset. In recent years, he was almost the leader of the Japanese business community, but he never expected to be blocked by the bank at the door to collect debts when he got old. It is said that the bank borrows umbrellas on sunny days and collects umbrellas on rainy days. This time, Yoshiaki Tsutsumi completely felt the warmth and warmth of people and the inconsistency of the world. At this moment, he knew that as long as he did not repay the loans from these banks, the banks would never let him go. .

Seeing that he couldn't hold on anymore, Yoshiaki Tsutsumi could only get up from the hospital bed and changed into formal clothes. After all, he is in his sixties, and he has just suffered a serious illness. Tsutsumi Yoshiaki endured the discomfort and left his ward and walked out the door.

As soon as Yoshiaki Tsutsumi walked out of the room, the presidents of the bank who were waiting outside crowded in, discussing with Yoshiaki Tsutsumi about the repayment of the loan. Yoshiaki Tsutsumi raised a hand to signal everyone to be quiet. Although Yoshiaki Tsutsumi is no longer the richest man in the world, Yoshiaki Tsutsumi is still one of the richest people in Japan, and he still has to give him some face.

"Everyone, don't worry about your troubles. I won't miss any of your loans, but now we, the Seibu Group, are also encountering a little difficulty. We should work together to tide over the difficulties, but your behavior makes me very sad. Ah! Did you throw away our years of happy cooperation just for such a small loan? If you really care about this small loan, I, Yoshiaki Tsutsumi, will return the money to you even if it is a waste of money, but from now on I will not I will have any business dealings with you again..." Tsutsumi Yoshiaki said softly but firmly, and first stabilized the situation at the scene. Immediately afterwards, he took out a few documents from the secretary and threw them directly on the table.

"Look, these are several properties of our Seibu Group in Hokkaido. If any of you are so anxious to recover the loan, you can take it all. The money should be enough to repay your debts?" Tsutsumi Yoshiaki said contemptuously, It's like throwing a bone to a stray dog. The bankers present looked at me and I looked at you. No one was sure whether to take the money and leave or tide over the difficulties with Seibu Group.

At this moment, the anxious president of the Union Bank of Japan no longer cared about the old friendship. They are different from other banks present here. The depositors are waiting at the door of their bank to ask for money? In case the money is not available, the Union Bank of Japan must be smashed by the depositors. He couldn't care about anything else, he went forward and bowed deeply to Tsutsumi Yoshiaki, and said: "President, our Union Bank of Japan has encountered a run on the bank, and we can't hold it anymore, so we have to withdraw it in advance." Loans, we have a total of 400 billion yen in credit with your company, we hope your company can repay the money as soon as possible, otherwise we will have to apply to the court to seize your company's assets..."

"How dare you talk to me like that, you..." Yoshiaki Tsutsumi pointed at the president of the Union Bank of Japan with a cane, and was about to hit him with a raised hand, and everyone hurried to dissuade him. And the president of Japan Laihe Bank, who has completely torn his face, said to the presidents of other banks present: "We have all read the report of Muddy Water Company and know the current financial situation of Seibu Group. However, we are definitely not the only one. Everyone, you know exactly how much money you have lent to Seibu Group. I dare say that as long as we cannot recover the loan from Seibu Group, the depositors will go one bank after another. With the bank's crazy withdrawals, the entire Japanese banking industry will be buried with the Seibu Group..." ()