Chapter 435: Election Results

"The Daley family sure deserves its reputation as an old political family in Illinois. Their power in Chicago is really huge," the next afternoon, Ivanka Trump, who followed Charles to the Daley Manor, seemed quite impressed.

"Hah, let's board the plane," Charles didn't have much to say. Now that Obama has been elected, the Daley family would surely advance further.

The Daley family was smoothly transitioning from Chicago mafia to legitimate power, truly fitting the title of "City of Sin."

Compared to Illinois, California had even more political families, like the Gettys, Browns, and Newsoms, who had controlled the state's power for over half a century!

However, America's top four political families were still the Adams, Roosevelt, Kennedy, and Bush families.

Once on his private jet, Charles dismissed these thoughts, thinking too far ahead didn't help.

"Charles, just two days until the presidential election polling day. Why don't we stay in Chicago and wait for the results with Mr. Obama?" Ivanka had shown a growing interest in the political circle and naturally wanted to stay close to the next President.

"Money is the nursemaid of politics. It's pointless for us to stay here," Charles looked at Ivanka and suddenly suggested, "If you're interested, you could try running for a position in the New York State Assembly. With your family's influence, becoming a state representative shouldn't be too hard. In the future, you might even become a New York congresswoman or senator!"

Ivanka smiled, sitting on Charles's lap, somewhat incredulous, "You really want me to dive into politics? I'm only 27, I don't know anything about this stuff yet!"

Charles, feeling the chest of the woman in his arms, explained with a smile, "Independent woman, pursuing freedom. You can start by building your persona slowly."

Then they lowered their heads and kissed passionately, the woman responding eagerly to his kiss.

...

On the other side, Obama had specifically sought information about the Madoff Investment scandal. The feedback was that the financial crisis had caused the losses.

"Is it really that simple?" Obama asked his chief adviser, Roger Fisk.

Roger Fisk shook his head, "There's nothing we can do. If it's true, Bernard Madoff is the mastermind of a fraud scheme, and he will take all the blame.

We can't stop an avalanche. We can only mitigate the fallout. Charles Capet made a profit even during the housing subprime crisis, spotting the problems with Madoff Investment wouldn't be hard for him. Now, a series of irregular operations at Madoff have already made many people suspicious."

Roger Fisk handed a news report to Obama, "BNP Paribas sued Madoff Investment at the New York State Court to recover 460 million. This happened today. BNP Paribas has been cooperating with Charles for several years now."

Obama smiled, realizing that Charles had casually shared this information. "Let's focus on the presidential election. This is just an investment firm's commercial case."

Roger Fisk nodded, "Unless we can save Madoff Investment and negotiate with the Jewish capital, it seems challenging as more funds and institutions are pulling out. Since we can't change anything, the best we can do is wait for the subsequent developments."

...

Two days after returning to Los Angeles, the U.S. presidential election polling day arrived on time. Charles, knowing the results, wasn't overly concerned.

On November 4, 2008, at 11:00 PM Eastern Time, the voting results showed that Obama had won by 349 to 163 electoral votes, becoming the 56th President of the United States.

"Congratulations, Mr. Obama, I hope you can lead America to change," Charles specifically called Obama from his office in Capet's Burbank headquarters to congratulate him.

After hanging up the phone, Charles leaned back in his chair, massaging his temples.

A moment later, Chairman Beberolles of BNP Paribas was brought to Charles's office by his assistant, looking worried.

Charles personally poured two glasses of brandy, handing one to Beberolles, and smiled, "Madoff Investment hasn't agreed to return the funds yet?"

Beberolles shook his head, "Not only us, but also Santander Bank of Spain, Credit Suisse, and several other European banks are seeking ways to redeem funds. Madoff Investment is definitely problematic!"

"Hasn't it already been sued?" Charles asked knowingly.

"Unfortunately, it won't be quick!" Beberolles sighed again.

"This year's global stock market crash even bankrupted Lehman Brothers on Wall Street. Isn't Richard Fuld worse off?" Charles consoled. Richard Fuld was the Chairman and CEO of Lehman Brothers.

"And compared to Societe Generale's dilemma this year, BNP Paribas is doing much better," Charles continued to comfort.

Hearing Charles mention Societe Generale, one of France's four largest banks, Beberolles's face looked a bit better. This year's Societe Generale futures scandal had garnered global attention.

In late January, Societe Generale announced that an internal trader, Jerome Kerviel, had caused a loss of billions of euros through unauthorized trades in European stock index futures.

Jerome Kerviel had used 50 billion euros to trade indices, losing close to 5 billion euros by the time Societe Generale's top brass discovered.

Additionally, Societe Generale suffered another 2 billion euros loss in the U.S. subprime crisis, bringing the bank to the brink of bankruptcy, desperately seeking around 5.5 billion euros in outside funding to survive.

Compared to the bankrupt Societe Generale, BNP Paribas, managing 330 billion euros in assets, was in a much better position.

"By the way, Charles, I've discussed with Vivendi's Chairman Vincent Bollore. Vivendi will support your acquisition of NBC Universal," Beberolles said, smiling. "Vivendi's current entertainment business focuses on gaming and music, and they'll also strengthen cooperation with Capet Entertainment!"

Charles nodded. Vivendi held a 20% stake in NBC Universal and was the major shareholder of Universal Music Group, owning the highly profitable Activision Blizzard. They were quite formidable.

"Is Vivendi planning to exit the film and television business?"

Beberolles nodded and patted Charles's shoulder, "That's indeed the plan. However, we all support Capet Entertainment's acquisition of NBC Universal."

"If successful, the collaboration between Capet Entertainment and French companies will be even closer." Charles smiled and assured.

*****

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