Hollywood Hunter

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What do banks fear most?

It doesn't take a lot of expertise, just a little bit of experience and the average person can probably tell you that two words are a run.

In the event of a run on any bank, the results can be disastrous.

In just one day on February 26th, a regulatory investigation and the withdrawal of Westinghouse Electric, two major negative overlays triggered a panic that quickly resulted in a run on Mellon Financial Group by its customers.

As a century-old local bank, Mellon Financial Group had a market capitalization of $13.9 billion the day before the incident, however, by the end of that afternoon, a series of negative news impact, Mellon Financial Group's stock price plummeted 21 straight, closing market value has only $10.9 billion, one day, the bank's all shareholders book losses of $3 billion.

However, the stock's plunge was secondary, and everyone understood that the most serious problem was a run on the bank.

If this problem was not resolved quickly, Mellon Financial Group, a century-old local bank, might not even make it to next week before falling into collapse, with more negative ripple effects.

Over the next two days, events continued to unfold without any miracles.

Mellon Financial Group continued to lose 13 and 9 percent of its value over the next two trading days, and by Friday's close, its market capitalization had plummeted to $8.6 billion, down from $13.9 billion three days earlier. At the same time, for three days in a row, the bank's customers accumulated as much as $67 requests for cash withdrawals and transfers, while the veteran local bank, with $43 billion in assets, was able to take out less than $3.5 billion in cash in the short term, according to the federal reserve requirement ratio of about 8 at this time.

Therefore, withdrawals could only be restricted.

This, in turn, caused further panic and runs.

Pittsburgh.

Inside one of the Mellon family's estates.

The time is Friday evening.

Most members of the Mellon family, which had been fractured since Andrew Mellon's death, gathered for a rare reunion, beginning with a heated argument between Richard Mellon Scaife and his sister, Cordelia Scaife May, who had started it all.

Their mother, Sarah Cordelia Mellon, is the granddaughter of Mellon family founder Thomas Mellon, and because of an inheritance dispute following her mother's death back then, the fourth-generation Mellon siblings, who are both in their late 60s, have not spoken much in nearly three decades.

"It's been like this since I was a child, since I was a child, you arrogant and incompetent fool, you can't do anything but drink and play with women, you live to be sixty and still only do these stupid things that implicate your family."

"Bi Chi, at least I didn't get you into trouble! Or, don't tell me that you secretly lost a lot of money following everyone else's investment in shorting tech stocks, which only makes you even more stupid."

"If I had known that you were the stupid one behind it, I would have never invested a dime. Hey, I lost some money, but look at you, you took so much back then, how much will you have left this time? Haha, I'm waiting to see you go broke, dumbass."

"I deserve more, at least I've done something over the years, and you, what have you done but lie back and enjoy life on your mother's inheritance? You didn't do anything!"

"You do something, you build a media conglomerate, and then you go mess with the president, you dig up somebody else, and hey, dig up what? Clinton is still well in the White House, but this time, Mellon Financial is suddenly under investigation, and why do you think that is, dumbass?"

"Beech, you shut up."

"Stupid!"

As the argument almost reached a physical point, Timothy Mellon pushed his father, Paul Mellon, into the room and the man in the wheelchair, who happened to be 90 years old this year, motioned for his son to come forward and swung his cane directly at Richard Mellon Scaife, finally putting an end to the dispute.

Interrupting the quarrel between the two juniors, Paul Mellon looked around the hall at all the juniors.

Timothy Mellon didn't mince words and looked around at the crowd standing or sitting and said, "Frank Court came back from Washington this afternoon and the authorities mean to ask the Bank of New York to take over Mellon Financial, so what do you all think?"

Frank Court is the ceo of Mellon Financial Group, a position he has held since 1987, and has been a loyal spokesman for the Mellon family.

As soon as Timothy Mellon finished speaking, one of his cousins, Matthew Mellon, said, "It's so obvious that this is a conspiracy, I remember last year when the Bank of New York tried to launch a takeover bid for Mellon Financial.

Another Richard Prosser Mellon, who was on the same team as Richard Mellon Scaife, said "Timothy, I just want to know, what do we get out of promising the Bank of New York to take over, or, to be blunt, what are we left with?"

Timothy Mellon looked at the cousin, who was a few years older than himself, and shook his head, "That's just what Washington is asking of Mellon Financial, and we need to be in touch with Washington after the decision is made about us tonight."

Cassandra Mellon, another middle-aged female member of the Mellon family, said, "If Washington doesn't make promises, we certainly can't promise anything."

"The problem, Cass, is that we only have one night to make a decision. You know, the stock market is closed for the weekend, but the squeeze is still on, and we can't afford to delay."

Cordelia, who had just finished arguing with her brother, interjected, "Then let's not talk about anything, if Mellon Financial collapses because of the squeeze, we're not the ones who lose the most, and I don't believe the White House would dare watch this happen."

"If we don't take the initiative, the situation at Mellon Financial will deteriorate to such an extent that the authorities will have the power to take over, and then we will have lost the initiative completely.

Cassandra Mellon added, "We can't just make a compromise without even talking about it. I still insist that Washington has to give us a promise before we can give in.

"The key is time."

"We might as well wait until Monday and see."

In the lobby, Paul Mellon, Andrew Mellon's only living son, leaned back in his wheelchair and listened quietly to the debate for a while, inexplicably saddened.

Thinking about the former glory of the Mellon family, and then looking at these people, all they could think about was retreating and getting out of the conversation, and even these children of the family didn't even subconsciously mention the name of the young man who started it all, let alone confront him, as you can imagine.

Thinking this, Paul Mellon raised his hand slightly to the crowd, and then looked to Richard Mellon Scaife, who had just been silent.

Richard Mellon Scaife, who had just been smacked by the old man who was supposed to be his uncle, and whose shoulder was still hurting, stretched his neck slightly and looked at the chandelier on the ceiling.

Cordelia, who was next to him, immediately scoffed, "Yeah, he's always been a scoundrel since he was a kid, and then waited for Mommy and Daddy to clean up the mess."

Paul Mellon glared at his sarcastic niece, and then slowly swept to the audience, seeing that the younger generation was full of dodging eyes, and his heart was even more dejected. If the Mellon family can huddle together, the accumulated heritage of the last hundred years, this only may still be able to play a little, now, in the face of something huge, people's hearts are disorganized, no fighting spirit, even if he still has some ideas, the old man can not be applied.

The company has been in the process of developing the new product for the past few years, and it has also been working on the new product for the past few years, which has been in the process of developing the new product for the past few years. . So, Matthew, Cass, and Charlie, do you have a problem with that?"

The crowd was silent for a moment.

Cassandra Mellon said again a moment later, "Uncle, is it really ...... true that if we give up Mellon Financial, it will be over?"

"Paul Mellon finally said a name, scanned the faces again, and added, "Only if you don't mess with him again. and live their lives in peace."

The atmosphere was somehow awkward, and some of the family children looked at Richard Mellon Scaife again.

Richard Mellon Scaife quickly turned red in the face and said in annoyance, "Simon Westeros, what is he, just a rich man, worst case, two years ago, the Woodfield Manor bombing, I let ......".

Before Richard Mellon Scaife could finish his sentence, Paul Mellon threw his cane at his nephew, who was still having trouble seeing the situation, and said viciously, "Stupid, can't you see what's going on? The Woodfield House bombing, hey, why don't you pick up the JFK assassination? What happened to the Kennedy children, you want to get us all killed?"

Richard Mellon Scaife, who was also angry at his uncle, couldn't stand it any longer and growled, "I'm not going to hurt you, just treat me as an outsider, and from now on I'm going to cut my ties with the Mellon family.

Paul Mellon saw Richard Mellon Scaife's face red with muddle words, even more angry, staring at the eyes of the lip trembling, arm slightly waving, but unfortunately the cane has been thrown out of the hands, can only raise his hand accusing Scaife, "severed ties, heh, all you have now is the Mellon surname to you, you first spit out your name property, say severed ties! thing. Here, I'll call a lawyer right now, if you'd like."

Richard Mellon Scaife finally calmed down and stalked his neck again, no longer answering, seeing the fierce look of the old man who almost stood up and pounced on him.

Timothy Mellon squatted down to help his father hold his chest to calm down, paused, and whispered to the crowd, "I called a friend at the FBI, and he said that all the evidence files on the Woodfield Manor bombing case have mysteriously disappeared since last year. Now, even if ...... Westeros himself jumped out and said that he did it, there's no evidence."

After Timothy said that, everyone looked at each other.

Paul Mellon recovered from his son's reassurances and finally spoke again, sounding dejected, "That's it. Although the Bank of New York is definitely a share swap and acquisition, but the Mellon family shares do not stay, sell all of them, we are completely out." So finished, Paul Mellon once again said. After saying that, Paul Mellon looked at his nephew again, "And, Charlie, shut down that Pittsburgh Tribune of yours.

Paul Mellon softened his tone, and Richard Mellon Scaife, who was already squeamish, didn't talk back, but still tried, "I can always sell, right?"

Paul Mellon hates it. "Who are you going to sell it to, and who do you think would dare to take it?"

Richard Mellon Scaife paused, nodding his head slightly and almost imperceptibly.

Paul Mellon opened his mouth and wanted to say something more, but he didn't, so he raised his hand and waved, "In that case, let's all disperse, and then ......, I don't have much time, I can't manage."

After the Mellons made their decision, things began to turn quickly.

After a day of urgent consultations the next day, early Sunday morning, the Bank of New York publicly announced that in view of the sudden outbreak of a critical situation of Mellon Financial Group, with the support of the regulatory authorities, the Bank of New York will take over the Mellon Financial Group emergency, Mellon Financial Group's board of directors was dissolved that day, ceo Frank Court announced his resignation, but will still assist in the follow-up of the Bank of New York's merger of Mellon Financial.

Mellon Financial Group's board of directors previously had a total of eight members, five of whom were representatives of the Mellon family, which basically amounted to absolute control of the old bank.

Now, the board of directors is dissolved, and the Bank of New York will take over and merge with Mellon Financial, completely announcing the end of the Mellon era.

Moreover, apparently in order to ease the bank's run on the situation, Westinghouse Electric, which had just announced yesterday that it was parting ways with Mellon Financial, suddenly changed its attitude and took the initiative to clarify that it was overreacting to the authorities' investigation of Mellon Financial's internal problems, and therefore withdrew its decision yesterday to continue cooperation with the bank in the future.

Such a roller coaster ride of twists and turns confused millions of viewers, to the point that a prominent financial journalist for the Wall Street Journal called out the conspiracy on his Facebook page.

The financial journalist also turned up a rumor late last year about the rejection of a takeover bid from Bank of New York to Mellon Financial Group, and decided that the events of the past few days were all part of a shady attempt by Bank of New York to absorb Mellon Financial Group.

Unfortunately, the big picture has been set, and the voices that did not actually probe deeper into the inner workings of the situation did not create much of a stir in the mainstream media.

As for the few at the top of the pyramid who knew what was going on, they were shocked again by the Mellon family's avalanche-like collapse in the face of the Westeros system, and inevitably grew a little more fearful and scrupulous.

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