Free Web NovelA few days later.
A series of articles appeared in The Wall Street Journal.
[JP Morgan Chase Receives Proposal to Acquire Bear Stearns]
Recent allegations that JP Morgan Chase has been approached regarding a potential acquisition of Bear Stearns are sending shockwaves through the financial industry.
According to information obtained by The Wall Street Journal, the proposal includes active financial support from both the Federal Reserve and the Treasury Department.
According to anonymous sources, the proposal includes a variety of financial support measures, including a $30 billion loan guarantee and ultra-low-interest financing.
The move is believed to be aimed at minimizing the risks posed by Bear Stearns' troubled assets.
The Wall Street Journal's reporting did not end with a single article.
True to its nature as a special investigative series, it released new reports every day.
[Fed Offers $30 Billion Loan Guarantee and Ultra-Low-Interest Financing]
The Federal Reserve is reportedly prepared to guarantee a $30 billion loan if JP Morgan Chase acquires Bear Stearns.
The loan would be provided at exceptionally low interest rates, allowing JP Morgan Chase to raise capital with minimal burden...
[The Suspicious Movements of JP Morgan Chase and the Federal Reserve]
The Federal Reserve and Treasury Department are reportedly preparing various support measures to reduce any additional financial burden JP Morgan Chase may face during the acquisition of Bear Stearns.
While specific details have not yet been disclosed, industry experts speculate that liquidity support, tax incentives, and regulatory relief may be included.
[Excessive Market Intervention by the Federal Reserve and Treasury Department]
...If all these allegations prove true, the consequences for the financial industry could be profound.
Although JP Morgan Chase's acquisition of Bear Stearns may contribute to stabilizing the financial system, criticism regarding excessive intervention by the Federal Reserve and Treasury Department is also expected.
This newspaper has requested official comments from the Federal Reserve, the Treasury Department, and JP Morgan Chase regarding these allegations but has yet to receive a clear response.
Additional information will be delivered to our readers as soon as it is confirmed.
The ultimate impact of this situation on the financial markets remains uncertain, and developments should be monitored closely.
“Those sons of bitches!”
Ben Bernanke crumpled the newspaper in his hand.
“How the hell did they catch the scent?”
JP Morgan Chase had not yet given a final answer regarding the acquisition.
If articles like this continued appearing, Chairman Jamie might decide against the deal.
Bernanke pressed the bell beside him, summoning his secretary.
“Prepare a press conference immediately.”
“Chairman, you can't do that. If you step forward now, people will become convinced the allegations are true.”
“What favoritism? Do they think everything ends if Bear Stearns collapses? Everything ends!”
“Even so, it isn't good for you to keep exposing yourself to the media. You should only speak publicly when absolutely necessary. Every word you say moves trillions of dollars.”
His secretary's firm opposition finally cooled his temper.
Taking a deep breath, Bernanke calmed himself.
“How are people reacting to the articles?”
“Well... they're not coming from just anywhere. This is a Wall Street Journal investigative series. So...”
The secretary trailed off, but Bernanke understood immediately.
The Wall Street Journal was one of the most respected publications in the world when it came to finance and business.
Its authority had briefly seemed threatened after Murdoch acquired it, but Murdoch had neutralized concerns by handing editorial authority almost entirely to the journalists.
He owned the paper, but the editorial direction remained in the hands of editors and reporters.
Since the acquisition, The Wall Street Journal had flourished.
Backed by abundant resources, it had become an economic newspaper beholden to no one.
“Arrange a meeting with Chairman Murdoch.”
“...Do you really need to?”
“I need to know how much he knows. Otherwise, how can I reevaluate our plans?”
“Understood. I'll contact him immediately.”
After the secretary left, Bernanke pulled out his phone and sent a text message.
* * *
“Hahaha. Charlie, Bernanke wants to meet me.”
“Really?”
Murdoch's booming laughter made it obvious he was in an excellent mood.
“Can you imagine how shocked he must be? Only a few days after our meeting at the hotel, the articles started appearing. It must've hit a nerve.”
“Please add more fuel to the favoritism controversy.”
“Of course. Beyond the information you provided, our reporters have started digging on their own. Results should come soon.”
The Wall Street Journal wasn't simply a newspaper that delivered mergers and acquisitions news, stock market analysis, and economic policy updates quickly and accurately.
Its greatest strength was investigative reporting.
It published deep investigations into corporate misconduct, financial fraud, and policy failures, shaping public opinion and sometimes even forcing policy changes or corporate action.
“If it's Wall Street Journal reporters, they'll manage it.”
“By the way... are you really okay with me meeting the Fed Chairman?”
There was a subtle excitement hidden in Murdoch's cautious voice.
“Do you want to meet him?”
“That fellow Bernanke became awfully arrogant after becoming Chairman. You'd be surprised if you knew how much support I gave him.”
For a man his age, it was a remarkably childish complaint.
I couldn't help laughing quietly.
“Do whatever your heart tells you.”
“Really? He's probably trying to find out exactly how much I know.”
“You can tell him everything.”
“As long as you keep publishing articles.”
“Hahaha. At this point, if I tried to stop publication, the editor-in-chief might grab me by the collar.”
“Thank you. I'll finish things up in Korea and head back to the States soon. Let's have dinner then.”
“Very well. I'll look forward to it.”
After ending the call with Murdoch, I immediately stood and headed toward my next appointment.
Myungsoo and Hyunseong had already arrived.
“You made it.”
“Busy these days?”
Myungsoo nodded, dark circles visible beneath his eyes.
This was a presidential election year. freeweɓnovel.cѳm
For a political party, no election mattered more.
Spinning his glass in one hand, Myungsoo gave a bitter smile.
“The President's reforms have dragged our approval ratings down pretty hard. I'm trying to figure out what to do.”
Yoon Changho had started with the National Pension Service, then moved on to government employee pensions, and finally military pensions.
Naturally, the backlash was enormous.
“You know somebody had to do it.”
“I know. I know, but... damn.”
Myungsoo emptied his glass in one gulp and sighed deeply.
“Still, doesn't the Centrist Party have the highest approval rating? And there are even two strong presidential candidates in the party.”
“Only because the opposition is split in two. If they united, their support would surpass ours.”
Politics really was terrifying.
A president who had maintained approval ratings above fifty percent throughout his term was now losing public support simply because he had pursued reforms that absolutely needed to be done.
Taking the glass Myungsoo handed me, I continued.
“Wouldn't that actually be a good thing? Since the opposition is divided, they're splitting the vote. That increases the Centrist Party's chances.”
Myungsoo sighed again and nodded.
“That's true. But if they suddenly merge later, we're screwed.”
“Maybe. But they won't unite easily. Not unless something huge happens.”
“Ugh, enough. That's my problem to worry about.”
The thought alone seemed to give him a headache as he waved his hand dismissively.
“If you need help, let me know. Even if I can't get directly involved, I can still help.”
“No. This time I want to make a president with my own hands.”
“The kingmaker. Doesn't that sound amazing?”
I answered his grin with a smile of my own.
Then I turned to Hyunseong, who had been quietly listening.
“What about you?”
“Everything's chaos. Now I finally understand why they call it the terrible threes.”
I had asked about business.
Instead, he answered with childcare complaints.
Yet despite his words, a gentle smile remained on his face.
“Must be pretty rough.”
“It's insane. I finally understand how our parents felt.”
“That's how you become an adult, I guess. Fine, I understand parenting is hard. So how's business?”
Hyunseong chuckled awkwardly.
“Ah, I followed your advice. We've stopped making new investments. And we're discussing selling stakes in companies where we can recover our capital.”
“You should speed it up. Conditions on Wall Street are worse than I expected.”
“I've heard bits and pieces.”
“The bomb that exploded on Wall Street is coming to East Asia next. Prepare in advance...”
I spent the next several minutes listing all the things he needed to watch out for.
When I finally finished, Hyunseong slowly nodded.
“Got it. I'll do as you said. Once I wrap everything up, I think I'll take a vacation. My wife won't say it, but she looks like she needs a break too.”
“You should. There's nothing wrong with stepping away for a while.”
“Lucky bastard!”
The moment Hyunseong mentioned vacation, Myungsoo jumped into the conversation.
“I want to travel too.”
Hyunseong replied flatly.
“Then go.”
“Hey! You think it's that easy? I'm a very busy man these days, my friend.”
“Sure you are.”
“What's that supposed to mean?”
To stop them from bickering, I poured more liquor into their empty glasses.
“You two still fight? You're adults now.”
“Muhyuk, you only ever say that to me. That bear started it.”
Myungsoo grumbled while raising his glass.
That's exactly why I liked Myungsoo and Hyunseong.
Lately, too many things had been happening outside my expectations, leaving my mind cluttered.
But whenever I met these two, everything cleared up.
No matter what positions we held, being together made us feel like kids again.
That was why I always made time for them.
I raised my glass.
“Stop fighting. Let's drink.”
The three glasses clinked together.
The crisp sound was strangely refreshing.
After draining my glass, I spoke again.
“I'll probably be staying in the U.S. for quite a while this time.”
Both men looked at me.
“Hyunseong, once things are settled, treat your vacation like a sabbatical. Get some real rest.”
Hyunseong nodded.
“As for you, Myungsoo... you'll probably be too busy to rest. But call me if you need anything. I can still help from America.”
“I won't ask unless things get really ugly.”
I nodded and patted his shoulder.
“You'll do fine. If you need something, talk to Chairman Lee Sanggeun of Joongwoo Construction. He'll take care of most things.”
“Got it. Don't worry.”
It was a simple answer, but somehow that made it more reassuring.
The only reason I could leave for America and focus entirely on investments with a presidential election approaching was because Myungsoo was here.
“So this is the last time for a while.”
“Yeah. That's why I wanted to meet beforehand.”
“Really? Then why are we wasting time talking? Let's drink ourselves to death first.”
Myungsoo grinned and pulled out another bottle of whiskey.
That night, I lost my memory.
“Ugh... I'm dying.”
The next morning, I stumbled out of bed searching for cold water.
“Myungsoo's become a complete alcoholic since getting into politics.”
I couldn't even remember how I'd gotten home.
‘Hey! Kim Muhyuk! My friend Muhyuk!’
The final fragments of memory surfaced and made me shudder.
A drunken Myungsoo had tried to hug me.
I resisted with every ounce of strength and shoved him away.
The last thing I remembered was Myungsoo tumbling backward into a full backward roll.
“Manager Ma. Everyone got home safely, right?”
“Yes. We escorted everyone home.”
I nodded.
“Let's start wrapping things up so I can leave for America next week.”
“Understood. I'll make the preparations.”
Over the next several days, I met everyone I needed to meet and left behind final instructions.
Then I headed to Busan.
After spending two days with my grandmother, I boarded a plane bound for the United States.
