Chapter 2276 Bank bankruptcy
Online discussions about the bankruptcy of Turtle Valley Bank and Signature Bank were aroused.
However, this did not affect Chen Mo's pace of short selling!
Another day later, Chen Mo directly asked people to post a message online and named: "Saskatchewan Citizens Bank holds a large number of toxic and junk assets and is already insolvent. I hope depositors will protect their assets."
If Chen Mo had made such remarks three days ago, experts would definitely jump out and say that this was a rumor spread by short sellers for short selling.
Most depositors and investors would definitely sneer at it and would not run to the bank to withdraw money in the hot summer.
However, the bankruptcy of two super-large commercial banks in three days has already caused the confidence of the financial market to collapse!
In addition, Chen Mo's side will go bankrupt whoever he points to, so depositors have to believe it.
So far, Chen Mo does not even need to pay the cost of public opinion. He only needs to post a message on Weibo and name a bank to make the stock price of that bank plummet and cause a run risk.
That day, before lunch time.
Saskatchewan Citizens Bank was surrounded by depositors who came to withdraw money.
The stock price fell by 67% in the morning, and trading was forced to stop.
The depositors were very excited, especially those who had deposited a lot of money.
After the bankruptcy of the first two banks, they realized that if they did not get the money back on the spot, the insurance company would pay at most 250,000 yuan afterwards!
"Give me back my hard-earned money!!!"
"Sacheng Citizen Bank is a liar!!!"
"Baguo Finance is finished, and it can't even pay back this little money!!!"
"Can't this country even protect the citizens' deposits?"
"..."
The angry depositors trampled the door of the bank.
The bank staff were so scared that they called the police.
The Ba Federal Reserve also quickly sent people to take over the Sacheng Citizen Bank, and urgently announced that the Sacheng Citizen Bank had gone bankrupt, and quickly asked the insurance company to compensate the depositors.
The fourth main god Rom was already sweating profusely.
It was only the third and a half days, and another bank went bankrupt!!!
Now the entire banking industry is in a state of panic, and every tree and grass is an enemy!
They were afraid that Chen Mo's empty god camp would short sell them.
The crisis of Sack Citizens Bank here has not been resolved.
In the afternoon, Chen Mo's Weibo was updated again:
"Time is running out for the Heartland Three Continents Bank. Alas, it's a pity for this bank."
Chen Mo didn't even say anything to persuade depositors to pay attention to risks.
But the depositors all understood what Chen Mo meant.
So, that afternoon, in just 3 hours, the Heartland Three Continents Bank was bankrupted by depositors and investors who came to withdraw money.
But the president of this bank was very cunning. He announced a vacation that day and didn't even dare to open the door. He went directly to the official to go through the bankruptcy process.
Within one day, two large commercial banks went bankrupt!!!
The cost Chen Mo paid was just to post two Weibo posts, and they were only posted in Daxia Country, and they were not even posted outside!
The total editing time of these two Weibo posts was less than 3 minutes!
Nowadays, the name of "empty god" has not only been widely circulated in the financial world, but even ordinary people who don't go online much know Chen Mo's name.
The number of fans on Chen Mo's Mo Xun Weibo soared from tens of millions to more than 100 million in just three days!
The most terrifying thing is...
These fans are all active fans, and their IPs are all in foreign countries! ! !
Foreigners know that Chen Mo is now "calling names" on Da Xia's Mo Xun Weibo.
This calling out means that whoever is called out will go bankrupt!
The accuracy rate is as high as 100%!
Soon, this group of foreigners learned a new term under Chen Mo's Weibo - "Eastern Death God uses Death Note to call names", which translates to "King of Hell calls out".
At this time, many people, especially Da Xia people who don't know Baguo, finally began to disenchant Baguo!
They found out that the money deposited in Baguo's bank was not guaranteed and could be gone at any time.
It turned out that the bankruptcy of a bank could be so casual. If there is no money, it can directly file for bankruptcy, and then there is no responsibility.
Some banks were even crazy about lending at high interest rates the day before they went bankrupt, cheating people out of money!
As for the so-called guarantee...
1 billion was deposited, and the maximum guarantee was only 250,000, which was the same as having nothing!
The crisis of trust has been spread in the banking industry of Baguo by Chen Mo's short selling.
Another day has passed.
Chen Mo didn't even name any banks this day, but directly attacked more than 30 small and medium-sized banks!
Feedback to the market, the stock prices of more than 30 banks plummeted by 50%-70% at the opening, and then trading was directly stopped.
Guigu Bank is the 18th-ranked commercial bank, Signature Bank is the 21st, Sash Citizen Bank and Heartland Sanzhou Bank are the 29th and 65th respectively.
These four banks are already the best among the thousands of banks in Baguo. Even so, they will still go bankrupt, not to mention small and medium-sized banks.
Now in the eyes of investors and depositors, small and medium-sized banks in Baguo have no ability to bear risks!
There is no need for Chen Mo to remind them, countless depositors have set off a wave of withdrawals!
Then there is a chain reaction.
Depositors swarmed to withdraw money and ran on the bank - the bank did not have so much cash and could not cash it - the capital chain was broken - thunder and bankruptcy - causing market panic and letting more depositors withdraw money - more banks went bankrupt.
A week later, Chen Mo shorted a total of 230 banks, of which 221 banks went bankrupt, and the remaining 9 banks' stock prices plummeted by more than 60%!
The short-selling operation was an unprecedented success!
The entire banking industry in Baguo was in chaos!
On this day, the banking industry rarely convened a meeting of bank presidents and financial institution leaders from all over Baguo to discuss how to deal with Chen Mo's unscrupulous short-selling behavior.
"We can't let Chen Mo be so arrogant anymore!"
"What the hell is the official of the Hegemony Country doing? Why don't they care about Chen Mo's short selling in such a big name?"
"Care? They can't even take care of the subprime mortgage crisis and inflation, so how can they care about us?"
"In my opinion, let's go to the head of the Treasury Department and the head of the Hegemony Federal Reserve and ask them for an explanation!"
"..."
Just when most people were indignant and complaining, the president of the First Republic Bank, which ranked 9th with assets of 233 billion Hegemony dollars and deposits of 104.5 billion Hegemony dollars, said: "Actually, I don't think you can blame Chen Mo entirely. The reason why the Hegemony Country allows short selling is because short selling is a means of market supervision and regulation. Who made your leverage and debt ratio so high?"
"Besides, the root cause of this crisis is still the subprime mortgage crisis!"
"Only by solving the subprime mortgage crisis can the problem be solved from the root."
Although what the president said makes sense, it is a bit suspicious of gloating.
After all, the First Republic Bank is under the name of the foundation and belongs to its own son, unlike them.
However, at this moment, someone exclaimed: "Look, everyone, Chen Mo has named someone again on Weibo!!!"
Everyone immediately put aside their discussion and clicked on Mo Xun's Weibo with sweat on their foreheads.
Then everyone looked at the president of the First Republic Bank with strange eyes...
