Author: Khurav

“Ding ding ding!!!”

At four o'clock in the afternoon, the closing bell rang

People finally ended this ups and downs of the day, and then prepared to face the next ups and downs of the night

This may be the first time since the New York Stock Exchange started using computer-aided trading, no, it should be said since the establishment of the New York Stock Exchange, that the closing bell rang but the closing price was not displayed!

The transaction request was so huge that the computer was unable to process it until four o'clock.

It’s over, but not completely over yet!

After many people calmed down, they did not choose to leave. Instead, they stayed near the New York Stock Exchange and waited for the results to be released. The media's sprint had already been set up.

"Mr. Luther, after the statistical results are out, bring them to me first and don't make them public yet! Also, George, could you please ask where James is? Has he gotten on the plane? And Mr. Greenspan."

Feeling a little tired, he took off his reading glasses. Brother Genzi obviously couldn't hold on any longer.

While we were still dealing with the aftermath of the Iran-Contra political scandal, something like this happened again. The house leaked even though it rained all night, so there was no such way?!

Reagan, who felt somewhat uncertain, finally turned his eyes to Carter:

"Carter, I'm afraid I have to work hard for you tonight. Can you stay here for a while?"

"That's okay with me, Mr. President!"

Even for first-hand information, Carter had to stay.

After a simple working meal, I waited for another hour, until about six o'clock in the afternoon. David Rudd rushed in with a report.

The Dow Jones Industrial Average fell 508 points, or 22.6%; the New York Stock Exchange Composite Index fell 19.2%; the American Stock Exchange Composite Index fell 12.7%; the Nasdaq Composite Index fell 11.35%

This was the first information Carter saw after receiving the report.

Look at it for the second time

Even more red-eyed

Among the more than 1,600 stocks on the New York Stock Exchange, only 50 have not become popular. If the data of the New York Stock Exchange is used as a sample and the same proportion is calculated, this means that today, more than 97.7% of the listed companies in the entire U.S. stock market have experienced serious stock price declines.

fell.

It can be foreseen that not only is Washington here tonight busy, but my phone is probably unstoppable as well.

Carter sighed secretly.

"Sorry, sorry, I'm late! Everyone!"

"Don't talk so much now, Mr. Greenspan, these are the latest closing statistics, which have not been released yet. We have to quickly discuss a countermeasure now. Oh, and that Carter, Carter Black, I

Let me introduce it to you."

Even after Greenspan arrived, James Baker also arrived soon after.

Except for Greenspan, who needed an introduction, the others were all acquaintances, and his words became crisp.

"Prepare your speech first. If this kind of problem occurs, even with Carter's funds, compare this. I roughly estimated that based on this decline, we have evaporated more than 500 billion US dollars in face value this time alone!

"

"A public statement, although most people may not believe it for the time being, it must be made! To express our attitude, we are actively solving this problem!"

"You don't need to say this, James! George and I have already prepared the manuscript this afternoon. Let's discuss the next step!"

"The next step is to ensure liquidity! I am already prepared for this, and the reserve districts of Atlanta, New York, Cleveland, Minneapolis, and Memphis have clearly expressed their support for our actions!"

Greenspan kept up with the topic, knowing that it was time for him to make a difference!

"We are also prepared for the reduction of interest rates. According to my speculation, tomorrow, major commercial banks should stop providing credit guarantees to securities brokers. This is a scene that will inevitably happen after the stock market crash! No one knows that in this kind of situation

By that time, how many securities firms will go bankrupt!"

"Based on 29 years of experience, the first thing we have to ensure is the survival of these securities dealers. Only if they survive and have enough margin to support trading activities will the market not really die! In the southwest region, we have cooperated with Bank of America

An agreement has been negotiated; the Northeastern region has also determined to cooperate with Chase, and the Federal Savings System will inject funds into them to ensure that they can continue to perform their contracts and provide credit guarantees and stock loans to securities dealers!"

"Is there enough money?"

This idea is correct, but there is a problem

"After all, there are only five Fed districts supporting this thing right now, not even half of them! These damn buggers."

Needless to say, such a large amount of support is provided to banks, and then money is released to securities dealers through the banks so that they can continue to carry out trading activities. This money must be at least tens of billions of dollars!

And this is only a deposit. If something really happens, how much it will ultimately cost is completely unknown!

"This is also the problem I want to say. This matter cannot be solved by the Federal Reserve alone. I also need help from the government. The price of government bonds should rise tomorrow. When the stock market and futures market fall, it often means that the bond market rises."

"Now is not a good time to issue debt."

When they heard that Greenspan was again interested in national debt, Reagan and Bush frowned.

When the time came to 1987, they didn't have any burden not to issue national debt. Anyway, Reagan was already lying on his back.

When he first came to power, he was still very ambitious to reduce government spending and reduce the scale of debt. Then, borrowing money is so useful!

Whether it is the "Star Wars" plan or tax reduction policies, throughout the past few years, all of Reagan's initiatives have basically been in two directions: increasing investment and reducing taxes.

On the one hand, federal fiscal revenue has decreased, and on the other hand, the scale of investment has expanded. When children see this, they will raise a question: Where does this money come from? Where does the difference come from?!

The answer is also obvious: national debt!

"In recent times, many projects need money. The Army wants tanks and the Navy wants ships. Gentlemen, we have to be prepared for the Soviet Union to jump over the wall! Their current environment is worse than ours, and wars have been used to divert domestic conflicts since ancient times.

The best way!”

"We have to prepare for possible wars. Once too much national debt is issued, credit will shrink significantly. What happened today would have hit the public trust in the United States. If we issue more national debt at this time,

National debt. I don’t think that’s a good approach!”

"If this is the case, then I will think of a way to see if I can convince the other Fed districts. In the beginning, the reserves of the five Fed districts should be able to sustain it for a while."

As a relatively new man in the White House, Greenspan wisely did not confront Reagan head-on.

He knew very well that this was just Reagan expressing his dissatisfaction. Why should the federal government give you the money borrowed by the federal government to use it?! Your Federal Reserve is in charge of the money printing press. Now we need money, but there are still 7 savings areas.

Don't listen to greetings.

Now you expect to use the money from the national debt to do your things?!

"To be on the safe side, Mr. President, do you think it would be possible for you to come forward and lobby those large companies to let them buy back their own stocks? This shouldn't be difficult to do. The stock price has fallen so seriously. This is also a scene they don't want to see!

"
Chapter completed!