Chapter 142: The Black Hole of US Dollars

The funds for acquiring Forest Bank were transferred to the corporate account of the FDIC's Atlanta branch the day after Carter returned to Douglas. With Patterson's help, Carter received the receipt and related documents that afternoon.

With these documents in hand, Carter could organize a team to take over Forest Bank's operations in Pearson. Unlike seizing a market, Forest Bank already had a complete staff, so Carter didn't need to worry about organizing a team for the time being.

Early the next morning, Goodman set off as Carter's full representative. That afternoon, he called Carter to report that everything had gone smoothly and they had successfully taken over.

According to Murphy's Law, when good news comes, bad news often follows!

Less than half an hour after Carter hung up on Goodman, he received a call from Julian while he was busy with paperwork. As soon as he put the receiver to his ear, a bombshell news hit him:

"The Quantum Fund has been accused by the SEC of market manipulation and fined $1 million! George has already signed the settlement agreement!"

"What?!"

Julian had mentioned before that the Quantum Fund had caught the attention of the SEC, but Carter hadn't taken it seriously. He hadn't expected it to actually happen now...

"What about my investment...it won't be affected, right?"

The confidence to back Forest Bank came primarily from the more than $20 million in reserves, but the anticipated earnings from the fund were also significant!

If that money was gone...

"No, it won't...not much at least. There might be a slight impact, but nothing major. Their performance this year has been outstanding. When the subscription period opens, they'll likely raise a lot of money again..."

Phew, that's a relief...

Hearing that his money was safe, Carter relaxed. Apart from a lack of interest in delving deeper, he was only left with a bit of confusion:

"If it's not a big deal, then just pay the fine. Didn't you say Mr. Soros could become a billionaire this year? A million is nothing to him, right? Besides, it's the fund's money. Why were you so worked up? You scared me—I almost thought the Quantum Fund got shut down and my money was gone!"

"Don't worry, your money is safe. What I wanted to tell you is... you just said paying the fine is no big deal, right?"

"Yes, what's the problem? The amount is negligible compared to their earnings, right?"

Carter was even more puzzled, completely failing to grasp what Julian was getting at.

"George thought the same as you, so he signed the settlement and paid the fine. But Jim had a huge fight with him over it. I suspect that once this year's cooperation ends, Jim will leave the Quantum Fund!"

Julian, on the other end, shook his head, his face looking a bit grim.

"Their argument erupted too suddenly! Jim values his reputation too much. To put it nicely, it's called honor... There's no right or wrong here, just different personalities and choices. I want to remind you that the subscription period is approaching. With this happening, you might want to reconsider whether to invest in the Quantum Fund next year."

"I don't deny George's capabilities, but in his eleven-year career, Jim has been instrumental to his success! Jim is the best market analyst I know. If he leaves the Quantum Fund, it might no longer be the best choice... Of course, I'm not trying to solicit your investment for my own fund; I just want you to consider this matter carefully."

Carter: ...

"If you hadn't added that last sentence, I wouldn't have suspected you were hinting at moving my money from Quantum Fund to yours."

Carter's eyelids twitched slightly, feeling he had uncovered the truth. So the whole point was to coax me into shifting my funds to his...

"By the way, when are you setting up your fund? I'm warning you, if you're too slow, I might pull that money to invest in opportunities here in Georgia. You should know, chances for expansion like this don't come around often! And you, well, given our relationship, won't you at least save me a share?"

"Seriously, you should change your name! You shouldn't be called Blake; you should be called Black Hole! You're like a damn black hole for dollars!!!"

"Do you even understand what you're doing? At this time, you're dumping a lot of money into savings banks? Small rural banks?!"

Julian used his shoulder to hold the phone, his hands trembling as he pulled out his blood pressure medication from his pocket.

He knew it was right to keep these handy!

"Gulp... Sorry, I don't mean to belittle Georgia. My hometown, North Carolina, isn't wealthy either... But! Putting funds into bank mergers is one thing. Buying one for $46,000 or even spending $1 million to fully acquire and integrate a bank is fine."

"But why would you listen to the FDIC's persuasion? Going against three banks at once, you've got guts!"

"Hey, hey, hey! Julian, I want to interrupt you. You might not have been to Georgia, but our local small banks aren't that big. The Forest Bank I acquired is considered relatively large, with a scale of under five million. I still have $28 million in reserves! That's over five times their size, so what if there are three opponents? It's just about who has more money, right?"

Julian's sudden rant made Carter a bit emotional. Others might not know his financial situation, but Julian did. Why was he so lacking in confidence?

"It is about having more money, and I believe you can outspend them. But what's your objective? My God, you're in conflict with Forest Bank and some Bass Bank, right?"

"Right!"

"And they've offended you and the FDIC's Atlanta branch. Now, you saw an opportunity and got greedy! One Forest Bank isn't enough; you want to swallow them all!"

"Uh... that's not right! Not right!"

Is Julian slandering me? Carter shook his head repeatedly:

"I didn't think that way initially. It was only after realizing I had to confront them, and after Patterson's promises... Well, now I do want to swallow them! Argyle, Dupont, and Naylor, these three cities are south of Pearson, close to each other and near Waycross. If I acquire them, I'd control the southern triangle of Georgia between Macon, Waycross, and Valdosta. The base of this triangle would essentially be my market!"

"With this territory as a foundation, expansion in any direction would be easier! Even if I can't expand, it would make my bank's foundation more stable!"

"Yeah, I don't deny your point. So, here's the problem. If you want this market, why choose to fight them in such a death-match fashion? In the end, what will you get besides three messes? The reconstruction funds for Pearson and those other places... Do you still think your $20 million will be enough?"