The Joseon Prince Went To America And Didn’t Return – 21



< Hogu or Prophet (3) >

It’s been about a month since I set up a joint trust with gold miner Jack Milo.

“Not yet?”

“yes.”

“Okay… Let’s go outside first.”

Unfortunately I was unable to contact ‘Amadeo Peter Giannini’ who Jack Milo had introduced me to.

Jack is a hasty person though.

I kept putting off introducing Giannini because it wasn’t my job.

‘I’d like to talk to him before the earthquake…’

There is one reason why I desperately wanted to meet Giannini.

He was a visionary and innovator who transformed America’s financial system.

In this day and age banks are the exclusive domain of the upper class.

They only used the assets of those with assets such as real estate or stocks as collateral and selectively provided easy loans.

It was Giannini who reformed it entirely so that it could be enjoyed by everyone as it is today.

‘The Bank of Italy was the first to treat future business income as collateral just like a modern bank.’

People made fun of Giannini and called him a fool.

They were concerned that lending money to small business owners at such low interest rates would lead to their bankruptcy.

But Giannini dispelled public skepticism with his management performance.

‘Because numbers don’t lie.’

The Bank of Italy he founded grew day by day.

The initial assets of $10000 grew to a whopping $1 million in just one year.

But it didn’t stop there.

His bank continued to grow so much so that his footprints are still visible today.

‘Bank of America (BoA) the second largest commercial bank in modern America is proof of this.’

During the 2008 financial crisis.

One of the few giant breakwaters that saved the U.S. economy by acquiring the floundering Merrill Lynch.

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This bank was the successor to the Bank of Italy.

I wanted to make the founders who first created such companies my ‘subordinates’ or at least my ‘partners’.

“Is that the Bank of Italy you see over there?”

“Yes boss.”

Before meeting someone it is quite useful to know their tastes strengths and weaknesses etc.

An occupational disease that developed while working as a lobbyist.

That’s why I always do my research before meeting new people.

It was the same even then.

Although I haven’t made an appointment yet I’ve been researching Giannini in advance and preparing to meet him.

“hmm….”

I looked at the Bank of Italy building from a distance inside the carriage and took out the documents I had in my arms.

These were the materials that three Irish brothers had collected while visiting nearby bars to research Giannini.

I reread the report and analyzed Giannini.

“He is an upright young man who does not do anything that could cause problems.”

Aaron summarizes the overall report next to me.

Max the youngest brother who was standing next to him agreed with his brother’s argument and continued speaking.

“That’s right Boss. This kid doesn’t cheat and is loyal to his family. He’s Italian but he drinks surprisingly little and comes to work on time.”

I guess so.

Because he’s one of the few Wall Street greats I respect.

‘He’s one of the more sane people on Wall Street.’

The people I met the most while working as a lobbyist were of course Wall Street guys.

The union too.

The Grain Association too.

Pharmaceutical companies too.

Defense companies too.

Everyone is looking for us but money is the most important thing.

No one spent more money on lobbying than the Wall Street guys.

‘When I think about those guys…’

I’ve seen a lot of really ugly things while hanging out with them.

Things that normal people would never have experienced just exploded when hanging out with them.

It’s not just the sex drugs money and women issues that are often featured in the news.

Wiretapping of rival companies is basic as well as violence fraud and murder.

There were so many different things going on.

I’ve encountered so many different kinds of situations that I still get goosebumps when I think about New York.

“Piss.”

“Tell me.”

“That guy Giannini. He’s all good but… he says he has a bad mouth.”

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Well Giannini like Jack started from the bottom in life.

If you live a rough life your mouth can’t help but be rough.

‘Gianini’s anecdote is famous.’

Giannini was so foul-mouthed that he even hurled harsh words at the soon-to-be chairman of the Federal Reserve.

“Rumor has it that it’s even worse than Gold King.”

As a modern person I have met many people in the financial world.

The level of harshness in his speech was not even something to be wary of.

“Oh and as for the personality… in some ways it’s a bit similar to Boss.”

“huh?”

As I tilted my head Max told me with a slightly nervous expression what he had seen.

“Gianini values ​​community very much.”

“Community?”

“Yes. He is also an Italian immigrant so he seems to emphasize every day that people from the same hometown should stick together.”

As I created the Synthetic Association in Hawaii I also laid out my motto head on: Let’s all succeed.

Giannini also seemed to be active in a similar way.

“Some people go around getting angry and saying that they will follow the guy who scams his neighbors to the end and get revenge. Some even call him a mafia. Of course I don’t think so.”

In modern America people of Italian or Irish descent are considered white but things were different then.

The first Anglo-Saxon immigrants to come to America disparaged Italian and Irish immigrants by calling them “white blacks.”

Isn’t it funny that some people don’t treat them like people?

There are classes even among white people.

‘We are treated worse than those Italian immigrants.’

Anyway we have no choice but to stick together.

For immigrants who are a minority that may be the only way to survive.

“They are also discriminated against so I guess they want to get along with each other. Well if you look at it that way I guess we can see ourselves as similar.”

“Right? My eyes are not wrong.”

Max smiled brightly.

I asked Max a few more questions before heading home.

“Oh but Boss. Isn’t that building nearby one of the buildings you just bought?”

On the way home.

Aaron asked me pointing to the newly purchased building.

“yes.”

“I’m just curious. Why did you buy that building? To be honest I can understand the other buildings you bought to some extent. But I just can’t understand that one.”

I thought this was going to be a long story so I ordered the groom to stop for a moment and folded my arms.

After that I explained the reason to Aaron.

“This is the city center but it’s near the city prison.”

“That’s right. There is a prison.”

Max joined in.

I continued talking looking back and forth between Aaron and Max.

“You probably think this building is a bit weird because of the prison. Are you sure?”

“Yes that’s right.”

“Yeah. It’s kind of creepy.”

“I’m going to start a cooperative in the future. I might even start a bank.”

“Tongue cooperative? A bank?”

“okay.”

I started snapping my fingers and explaining how promising the area around the city prison was.

“In any case both businesses are places where money is made. Naturally they are structures that are vulnerable to robbery.”

I glanced at the watch on my waist for a moment.

“It will probably pass by now.”

Aaron and Max’s eyes widened.

“Those authors….”

I answered with a big smile.

“Yeah. They’re the police.”

“….”

“….”

“There’s a prison nearby… so the police patrol this place all the time. If there’s an escape this city will be turned upside down.”

“Oh… So you’re saying that even if nothing else this is the perfect place to set up a bank.”

“That’s right.”

“I didn’t know it had such a deep meaning.”

“If you don’t observe the surrounding environment closely you might not know.”

This is one reason but there are also reasons that are not mentioned.

Although it is located in the city center this shabby old town was completely burned down by the great earthquake.

‘The environment changed beyond recognition during redevelopment at that time.’

Oh of course that prison won’t burn down.

Unlike other buildings it was not a wooden building and there were no buildings nearby for security reasons so there was no damage from the fire.

‘Banks will move into this land that has been redeveloped and completely changed. They will have to pay very high rents.’

At that time land prices jumped.

and.

Later.

After some time had passed and security was secured the city prison was relocated outside the city due to public complaints.

Then land prices jump again.

“Boss. We’ve arrived.”

As I entered the house under the protection of the Irish Three Brothers Choi Hyun-woo was waiting for me.

With very good news.

“Your Majesty. We have finally received word from Giannini.”

* * *

I’m going to meet a legendary figure tomorrow.

Before the meeting I analyzed him one last time.

‘If he works under me I can leave the financial sector to him.’

However… there was one problem.

Giannini has one solid management philosophy.

‘I absolutely hate it when management rights are concentrated in one person.’

Bank of Italy the predecessor of Bank of America.

None of the shareholders there owned more than 100 of the 3000 shares initially issued.

Even founder Giannini currently owns exactly 99 shares.

‘He was unusually wary of this.’

It must be because of distrust in the existing banking system.

By now that JP Morgan bastard must be eating it all by himself.

‘At least the financial industry has a motto that it should not be controlled by one person.’

Giannini’s lifelong management principles.

This can’t be changed overnight.

No you can’t beat him to death.

Because it is a famous anecdote that is still passed down by word of mouth even today.

‘He’s not the type of person who can be threatened.’

If you tie him up forcibly he’ll notice you and run away to another place.

Isn’t there a better way?

‘Let’s think about it. A solution that will satisfy both of us.’

I thought about it drawing sentences and arrows in my head.

“I want to make money.”

“But Giannini won’t let me become the major shareholder.”

What techniques should we use to satisfy this at the same time?

‘Ah! So there’s a way.’

Yes we can issue preferred stock.

Preferred stocks that provide regular dividend payments without threatening management rights.

Aren’t there a lot of these even in modern times?

‘Google is a prime example.’

Google’s parent company Alphabet issued three types of stock.

Excluding Alphabet B held by the founder Alphabet A and Alphabet C were released in the market in almost equal proportions and among them Alphabet C was a preferred stock without management participation rights.

‘Even the prices are similar.’

All I have to do is make money.

By investing a small amount of money.

It would be a bigger win for me if I could sweep up all of the future Bank of America preferred stock.

It would be difficult for me who has no business knowledge to create and run a new bank.

Why not just leave it to someone who is good at it?

‘There’s no need to get dirty with shit.’

Giannini’s competitors are not the traditional banks but loan sharks.

These guys aren’t usually that bad so there’s no need for me to risk my life by stepping out in front.

‘If you don’t like it you can just eat it up during the Great Depression.’

Because then no one will be safe.

Only I who know the future will prepare cash and aim for a big sale.

* * *

I was up all night thinking about meeting Giannini.

I was finally able to fall asleep around dawn which made my next morning quite hectic.

Fortunately I arrived at the Bank of Italy on time.

“Oh my prince! Welcome!”

Giannini came out and greeted me.

“I am Amadeo Peter Giannini. It is an honor to meet you.”

hmm….

Are all Italians like that?

My first impression of Giannini was very similar to Jack Milo.

His personality and behavior were simple hearty and macho at the same time.

“My name is Prince Lee Kang. Nice to meet you.”

“FXXX. How dare you come to such a shabby place… I’ll have to brag to my son when I get home.”

You said the F word at first sight.

From what I’ve heard this guy is hotter than Jack Milo.

“This way.”

Giannini grabbed my arm and led me into the bank’s reception room where he sat me down on the sofa.

Then he called out loudly to his subordinates.

“Hey kids what are you doing? An important person has come and you haven’t even brought out a cup of coffee.”

“Yes brother.”

The bank tellers who looked like mafiosi bowed to Giannini and disappeared.

After about a minute the big bank tellers brought me coffee again.

“Haha! Prince. My brothers are oblivious… I’m sorry. Oh… It’s not that you don’t like coffee is it? It’s daytime so I asked you to bring coffee but do you feel like drinking alcohol? Then should I ask my brothers to bring me a shot of bomb shot?”

If you just look at his words and actions you might mistake him for a mafia member.

I remembered what Max had said before.

‘You shouldn’t judge a person by their appearance.’

Even so in just 10 years Lee Ja-yi will become the bank president who will conquer the West.

After another 10 years he was upgraded again to head the second largest commercial bank in the United States.

“Hmm… The coffee is fucking great maybe because I’m drinking it with the prince. Ahhh….”

Giannini took a quick whiff of the hot café latte and then downed it all in one go.

also.

As first impressions suggest his personality wasn’t as hot-tempered as usual.

“Ah! Prince. I heard from Jack. He said that you need some money? How much do you need?”

Still he seemed a bit serious when talking about business.

Giannini asked me with a gleam in his eyes.

“We lend based on future income rather than collateral. If you tell me what kind of business you are engaged in I will tell you the amount of loan our bank can lend you right now.”

I sipped the coffee Giannini had given me and carefully explained that my reason for coming today was not for the loan.

“I just wanted to introduce you. Looks like Jack is speaking his mind too hastily again.”

“Huh? What the… that damn Jack. You were talking nonsense. Well the prince is probably one of the richest men in San Francisco. There’s no reason for him to borrow money from me. Damn it. I’ve been scared since yesterday about how much I have to prepare for nothing.”

“….”

“I have a lot of money in the vault.”

Giannini who had been swearing for a long time apologized to me.

Let’s say it’s okay. After chatting for a while he asked me with a cautious expression.

“But… why did you want to see someone like me? If you don’t need a loan then you probably don’t have any reason to see me… Oh… is it because of my wife’s youngest sister? Well Viola is really pretty.”

“Misunderstandings keep arising.”

How pretty is the viola….

If it were Lee Kang he would have asked that right away.

But I endured it.

I told him why I came today because it seemed clear that Giannini’s eyes would roll back.

“You seem to have a hot temper so let me get straight to the point. I’d like to invest in you. I’d like to invest about a hundred thousand dollars first. What do you think?”

< Hogu or Prophet (3) > End