New Employees With an Annual Salary of 1 Trillion Won - Chapter 130

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This chapter was translated by Lunox Team. To support us and help keep this series going, visit our website: LunoxScans.com
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Chapter 130. Indulgence (4)

Even the next day, the market crash showed no signs of stopping.

Rather, even more forces were rushing in to grab their share than yesterday.

“This is the first time liquidation work has been this easy.”

“Have you cleared all the short selling positions?”

“We dumped them right before market close, and they were all snatched up as fast as we threw them out. As expected, we made about 5 billion dollars in profit.”

We had earned 5 billion dollars, but there was no smile to be found on the General Manager’s face.

From now on, we had to throw ourselves into a cliff with no telling when it would end.

“We need to start defending against short selling from today.”

I already got a call from Advisor Karl Rove. He was pressuring me about when we’d start. I’d like to wait and see for a few more days, but starting today we need to at least pretend to defend to maintain our relationship with the White House.”

Who would want to go out into a place where red rain is falling?

But since we had made a promise with the White House, we had to go outside even if it meant getting soaked.

“Sigh, it feels really strange to put money in when we know perfectly well that stock prices will fall.”

“It’s money we can get back again.”

“That’s right, we were able to get a 100 billion dollar loan because we’re putting money in now, so there’s nothing to regret. Let’s begin.”

The full-scale war against short selling forces had begun.

We started buying up airline, insurance, and travel stocks where buy orders were nowhere to be found.

Then the short selling forces, far from retreating, poured out even more volume more fiercely.

“They seem to see us as complete suckers. They’re really determined to fleece us and coming at us hard.”

“Conversely, we just need to devour them. Think of today as throwing bait to the hyenas and you’ll feel more at ease.”

“It’s just that the bait costs 5 billion dollars.”

The funds we deployed today were 5 billion dollars.

Of course, it was a small amount compared to our total funds of 100 billion dollars, but we had blown an amount equivalent to our short selling profits in just one day.

“Now that the war has begun, it’s time to declare war.”

“Normally, never revealing your position is basic in stock investment. But I never thought we’d break that principle and completely expose our position.”

“We can’t beat all the short selling forces by ourselves. Of course we could win in the long term, but to shorten the time, we need more allies.”

Declaration of war.

This was something done only in wars.

A declaration of war in the stock market was like showing your cards, so it was absolutely forbidden behavior.

But this time was different.

Because a major incident called terrorism had occurred.

Naturally, citizens would be angry at acts that trampled on national pride.

I had proposed this strategy to the General Manager because we needed to actively utilize the American people’s patriotism, unity, and sentiment of not yielding to terrorism.

“It’s time for the press conference.”

“Let’s go play supporting roles. It’s been a while since I’ll hear the Chairman give a speech.”

The protagonist of this press conference was Chairman Robertson.

The General Manager and I were Asian, so there were limits to stimulating American citizens’ emotions.

But Chairman Robertson was different.

As a white American and symbolic figure of Wall Street, the atmosphere would inevitably change the moment he stood before the microphone.

It was time to use the weapons of reputation and trust built up over decades.

“It looks like media companies from all over the world have gathered.”

“Thanks to media companies from around the world flocking to Manhattan due to the terrorism.”

“The impact will definitely be certain.”

Chairman Robertson stepped up onto the podium of the press conference hall.

We took our places behind the podium with other executives to fill the screen.

The moment the microphone was turned on, dozens of camera flashes burst out all at once.

“I am Robertson, Chairman of Tiger Fund. Today’s occasion is not a simple press conference!”

Chairman Robertson’s voice, filled with sincerity, echoed through the conference hall.

The reporters all opened their laptops and began typing busily.

“This terrorism is a provocation and challenge directed at all of us. It was an attempt to bring down the American economy and financial markets! But we! America! Will absolutely never yield to terrorism!”

These were words that government officials might say.

So the reporters looked at the Chairman with puzzled expressions, but cheers and applause inevitably burst out at the words that followed.

“From this moment today, Tiger Fund will deploy all assets we hold to protect the American stock market. We have already taken out loans from banks using all our assets as collateral, and we will pour out those funds without sparing a single penny!”

Bloodshot red eyes and hands trembling at every joint.

The Chairman didn’t hide his emotions, and his increasingly cracking voice further inflamed the atmosphere of the conference hall.

Before long, the reporters had taken their hands off their laptops and were only looking at his face.

“But this fight is not Tiger Fund’s fight alone. We will stand at the forefront burning everything we have. Please, American citizens, join us. We will surely be victorious. Please help us trample together these leech-like groups trying to turn the tragedy of terrorism into an opportunity!”

Cheers and applause poured out.

The Chairman seemed to lose strength in his body and swayed, and the General Manager and I quickly ran out to support the Chairman’s body.

But the Chairman did not come down from the podium.

He approached the microphone again and held a Q&A session.

“I apologize for showing such an unsightly appearance. I’ll take questions if you have any.”

“Isn’t the risk too great? If you fail, Tiger Fund will go bankrupt.”

“We cannot avoid it out of fear of bankruptcy. I saw it clearly. I captured in my own eyes the flames and smoke rising from the Twin Towers. So how could I not fight!”

Now it was the Chairman’s voice that was not just cracking but making metallic sounds.

Nevertheless, all the reporters attending the conference raised their hands high, hoping to hear even a little more of the Chairman’s voice, and the Chairman pointed to another reporter with his still trembling hand.

“I understand that Tiger Fund also conducted short selling before the terrorism occurred. Please explain.”

“We did not know that terrorism would occur. We simply analyzed market trends and proceeded with short selling. But since a tragic incident has occurred, we decided to deploy not only the profits but all our assets for market stability.”

He smoothly handled even sensitive questions.

And the Chairman pointed to the next reporter.

“You appealed for participation from all citizens. But if you fail, not only Tiger Fund but also the citizens who followed will suffer damage. What do you think about this?”

“I believe in America’s strength. We will absolutely not collapse to short selling forces. So please trust America, not Tiger Fund, and join us.”

With this answer, the Chairman swayed as if collapsing.

The General Manager and I quickly supported the Chairman and escaped outside the press conference hall.

The press corps gave us a standing ovation, and we returned to the office listening to that sound.

The moment the office door closed.

The Chairman, who couldn’t even open his eyes, suddenly got up and stretched.

“How was it? Don’t you think my acting skills have improved quite a bit?”

“Was it all acting?”

“The collapsing from exhaustion was acting. But I put my heart into it, so that kind of acting was possible, wasn’t it?”

The Chairman’s voice was still cracked.

Should I call it sincere acting? Or was he calling it acting out of embarrassment?

What was certain was that this press conference succeeded in imprinting Tiger Fund’s strategy on all citizens.

“Articles are already starting to pour out.”

“Of course they should. I even did that kind of acting at this age.”

“All the news will also cover this press conference extensively. The White House will put pressure on them.”

“It looks like I’ll get my face out there after a long time. Now this old man has done everything he needs to do, right?”

Fatigue was showing on the Chairman’s face.

But there was still work left to do, so I couldn’t let him rest like this.

“Please handle the cleanup too.”

“Tsk, does the protagonist have to handle the cleanup too? Well, I have to do what I’m told to do.”

“Meetings with major banks are scheduled, and consultations with the Federal Reserve and the White House are also planned.”

“You’re really working me to the bone.”

“Please just suffer through this month.”

The Chairman looked at me with a strange expression.

It was a face as if he had realized something.

“I see you think the situation will change next month.”

“I’m looking at the rebound timing as late this month to early next month. Of course, it’s only possible if all plans are realized.”

“My running around is also part of your plan, isn’t it?”

“That’s right. The plan is completed only when you officially step forward, Chairman.”

“Then we must do it. I don’t know everything you’re plotting, but I’ll follow along as you wish.”

The Chairman stretched again.

It seemed like he was loosening up his body to carry out the excessive schedule booked down to the minute.

“Let’s each do what we do best. Since you’re making this old man work, you’d better deliver results.”

“Once we finish this matter, Tiger Fund will be recognized as the largest and greatest fund in the United States.”

“That’s how it should be. I’ll trust you and give it a try.”

We headed back to the battlefield.

Everyone had to fight in different places, and it was a war we could only win by achieving victory everywhere.

***

It was the third day since the market opened.

We had already used 40 billion dollars out of 100 billion dollars, but we still couldn’t prevent the market crash.

“Stock prices have been falling for three days now.”

“Still, the decline has decreased significantly. Compared to the Dow falling 7% on the first day, the situation has improved.”

“The problem is the airline industry. With flight restrictions, there’s already talk of bankruptcy.”

Stock price increases ultimately depended most on corporate conditions.

No matter how much short selling we absorbed, defense would be impossible if companies were actually facing bankruptcy.

“Since the Chairman went to the White House personally, won’t we get an answer?”

“The airline industry is problematic, but the travel and insurance industries are equally struggling.”

“We can help the travel sector a bit. We’re planning to provide various types of coupons and benefits through Everbed.”

“That would help somewhat, but not enough to change the game.”

Actually, insurance was the most serious sector.

Insurance companies had to pay massive insurance claims due to the terror attack.

If those funds were withdrawn all at once, they would fall into severe capital shortage.

“Ultimately, the situation will depend on how much government support is provided. Especially for the insurance industry to survive, it’s impossible without government support.”

“While we defend the market, the White House needs to create solutions.”

The current situation was actually close to miraculous.

We had poured in massive amounts of money, and thanks to the Chairman’s press conference, many American citizens were buying the plummeting stocks.

Media companies were also voluntarily publishing related articles.

Public opinion that we couldn’t lose to terrorism was growing stronger, so it wasn’t such a desperate situation.

We just needed a card to reverse the situation.

And the Chairman returned with that card.

“Director! Branch Manager! It’s done now! We’ve overcome the crisis!”

“Were there good results?”

The Chairman returned from the White House, shouting as he came to find us.

He smiled and informed us of the White House meeting results.

“The airline industry support package has been approved. They decided to provide subsidies and loan guarantees, and even limit lawsuit liability!”

“What’s the scale of support?”

“Initially, they decided to support airlines with 15 billion dollars, and they said additional support will be prepared soon.”

15 billion dollars was like welcome rain during a drought.

It was enough support to overcome the bankruptcy crisis, and an amount that could serve as the driving force to endure until the situation stabilized.

“Was there no separate discussion about supporting other industries?”

“For the travel industry, there’s no direct financial support, but they decided to provide tax benefits and loan relaxation.”

“That should be enough to put out the urgent fire.”

Actually, this alone wasn’t sufficient.

It wasn’t quite a card to reverse the situation, but closer to a measure that just prevented the fire from spreading further.

“It’s not over yet. The Federal Reserve decided to lower interest rates once more.”

“Didn’t they cut rates by 0.5% three days ago? And now they’re lowering them again?”

“That’s right! They decided to take emergency rate cut measures early next week, and this time they’ll also cut by 0.5%.”

This wasn’t bad.

Even if it couldn’t give a signal that the crisis was completely overcome.

It was a measure that could sufficiently provide a rebound due to government support and policy expectations.

“And discussions on insurance-related legislation have also begun. The Terrorism Insurance Support Act will likely pass soon.”

“What’s the specific method?”

“It’s a structure where insurance companies bear costs up to a certain amount, and the government takes responsibility beyond that. It should prevent insurance companies from going bankrupt.”

The situation was now balanced.

With just one final move, we could tip the situation in our favor, but Tiger Fund alone didn’t have enough power for that.

“Chairman, if we fit the last puzzle piece, the plan will be complete.”

“Do I need to step forward directly again this time?”

“Yes. It’s something only you can do. If we bring Berkshire Hathaway to our side, we’ll win this war.”

“You mean I need to meet Warren Buffett. Hmm, meeting him isn’t difficult. But I’m not confident about persuading him alone. Branch Manager, come with me to Omaha.”

The Sage of Omaha.

The financier most beloved by Americans.

If he joined this operation, the decisive rebound card of market confidence recovery would come into our hands.

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This chapter was translated by Lunox Team. To support us and help keep this series going, visit our website: LunoxScans.com
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