"How can you close down, open the door quickly, my life savings are in your bank" "Give us the money back" "My money, how will our family live in the future?"
When all cash ran out, the Union Bank of Japan had to temporarily close its doors.
As one of the four largest commercial banks in Japan, the Union Bank of Japan did not survive even half a month under the frantic run on depositors.
In this case, in order to avoid triggering a chain reaction of debt, the Financial Services Agency of Japan urgently took over the United Bank of Japan.
In the context of Japan's stock market and property market soaring for many years, the United Bank of Japan's credit scale has been stretched to the limit, resulting in an extremely low reserve ratio for the bank.
It is for this reason that the United Bank of Japan has behaved so vulnerable in the midst of the run.
However, the timely intervention by the Financial Services Agency did not restore the confidence of depositors, who still could not get their money from the United Bank of Japan.
Moreover, the run on the bank has begun to spread, and it is likely to intensify.
After the United Bank of Japan was targeted by Muddy Waters and fell into a run crisis, some Japanese regional banking industries such as Bank of Nagoya and Bank of Osaka were exposed to the existence of loan business with Seibu Group, and there was a serious bad debt crisis.
Although the scale of these two banks is not small, it is still not comparable to the United Bank of Japan.
The two banks were also running out of cash under the frantic run of depositors.
All of a sudden, almost everyone in Japan was in danger.
Because who knows whether the bank can pay back the money they have in the bank, it is under this panic that the people can no longer believe the bank and go to the bank to withdraw their savings.
Even Japan's largest banks, Tokyo Mitsubishi Bank and Sumitomo Bank, are crowded with long queues to withdraw money.
Under the manipulation of Seryosha's debt problems, the Seibu Group's debt problems dragged Japan's banking industry into the water according to a designed script, and under such a crisis, the Japanese Financial Services Agency naturally could not sit idly by and watch the collapse of the United Bank.
Because the Union Bank of Japan is one of the four largest banks in Japan, once the Union Bank is crushed, not only depositors will not be able to get their money, but even the savings of large Japanese companies are likely to be wiped out, so in any case, the Takeshita cabinet will not let the run continue to spread in the banking industry.
The importance of the banking industry is related to the national economy and people's livelihood, and the United Bank of Japan is too big to fail in Japan.
Just after the United Bank of Japan completely gave up its dignity and asked the Ministry of Finance for help.
The Ministry of Finance immediately formulated a series of emergency takeover measures, which can be summed up in one sentence: the loss of money from the United Bank of Japan is subsidized by the state.
Specifically, the Ministry of Finance took the initiative to buy out some of the major bad debts in the Japanese banking system, and then set up a new company to take over the bad debts, so that the bad debts of the Japanese banking system were divested.
However, if the Ministry of Finance really does this, it will have to put more currency in circulation into the market, which will further stimulate people to borrow from banks and invest in the stock market, and once there is a problem in the stock market, new bad debts will be generated.
There are pros and cons to this plan, because Japan's big banks have the shadow of a consortium behind them, and once they accept this plan, then these banks will have to accept the state's harsh bailout conditions, but as long as there is a glimmer of life, the United Bank of Japan will never turn to the state for help.
In addition, this plan must be approved by the Diet, after all, it is unfair for other banks to take out state money to bail out a non-state-owned bank, but the influence of this matter is too great, once the United Bank of Japan falls, many Japanese companies attached to the United Bank of Japan will also fall into a situation of lack of funds, and then it will be a number of powerful and influential enterprises that will fall.
The plan was quickly submitted to Prime Minister Takeshita's cabinet, and when the cabinet announced that it would take over the United Bank of Japan, the depositors who waited all night at the bank's door were reassured that they could get their money back anyway.
All this was expected by Seryosha, who was sure that Noboru Takeshita would not sit idly by and watch the Union Bank of Japan fall.
Because Noboru Takeshita and his predecessor Yasuhiro Nakasone were typical right-wingers, representing the interests of Japan's major conglomerates, the problems in the core banking system of the conglomerates were naturally passed on to the entire public.
Seryosha once followed the subprime mortgage crisis in the United States in 2008, when the U.S. government spent huge sums of money to help Goldman Sachs and other large conglomerates strip bad debts.
If this money is evenly distributed among every American family, it means that each American family has paid nearly $7,000 for the failure of Goldman Sachs' investment.
This is close to one-seventh of the average annual household income in the United States, and it is a great irony that such an unfair thing happened in the United States, which is known for its fairness.
When the number of companies you control is enough to greatly affect the employment rate in the United States, then no matter how much money you lose, the government will never let you fall.
This is also an important reason why Seryosha keeps acquiring companies in the United States.
At this point, the conflict between Seryosha and Noboru Takeshita is simply life and death, and Seryosha must prevent the Japanese Diet from passing this bank emergency rescue plan.
Because once the plan is approved by the Diet, then there will be more yen poured into the Japanese stock market and property market, which Seryosha absolutely does not want to see, only by puncturing Japan's real estate and stock market bubbles, Seryosha can have the opportunity to loot the foreign exchange that the Japanese people have worked hard to accumulate after the war.
Seryosha was glad that Japan was a democracy, and if it was in the Soviet Union, Seryosha would only need to make a report and convince the majority of the Politburo that he would be able to buy the bad money in the bank.
But not in Japan, they still have the Diet, there are opposition parties in the Diet, and even the many factions within the Liberal Democratic Party have different voices.
Seryosha had already planned to oust Noboru Takeshita from the prime minister's throne at the right time.
As long as Japan's political arena is thrown into chaos and the problem of bad bank debts drags on for a year and a half, Seryosha's success rate will be greatly increased.
How to oust Takeshita from the prime minister's throne Don't forget that Mikhail is a foreign guest of the new Prime Minister Takeshita.
At the beginning, he helped him deal with political cash and bribes from Deputy Jiang Haozheng, the president of Rikulut.
The money, in the name of Secretary Noboru Takeshita, is now safely deposited in a Swiss bank.
No one understands better than Mikhail how much money Prime Minister Takeshita took that he shouldn't have taken.
At the same time that the Japanese cabinet submitted the bank emergency rescue plan to the Diet for a vote, Seryosha asked Lebedev of Switzerland to send the debt analysis report of the Japanese banking system and the Seibu Group to Japan in one go, and Seryosha is now going to hell with the entire Japanese banking industry. t1706231537: