Chapter 129 Don't Forget We're Garbage

"Oh, forget about them. At least they have the scale to gamble like this, but we can't."

To quote Mark Twain, "If you owe the bank $1,000, that's your problem; if you owe the bank $1 million, that's the bank's problem!"

While Mark Twain's $1 million might not be much today, the principle is similar. If the Hunter family really goes bankrupt, the associated banks and companies will undoubtedly suffer a lot.

But that's not something Carter is concerned about. Anyway, his contracts are all sorted out, so he doesn't care about the external chaos.

"Now that we've got our affairs in order, I've left your $5 million in the Ketterl account. When do you plan to strike out on your own? I can't wait to be a shareholder!"

"Haha, be patient. I still have some assets to liquidate in my account, and I need to discreetly bring over some client relationships too."

Julian's voice gradually softened as he spoke. After discussing the expected events and preparations, Julian changed the subject:

"There's something I need to tell you about. It's about your bank, and other deposit institutions. There's going to be a major change next month."

"Do you have any specific information?"

Carter focused, as it concerned his livelihood. He needed to understand it well.

"Not specifics yet, but I have a general idea. It's about a group of bills aiming to relax regulatory oversight on institutions like yours. That's a good thing. But the downside is that it will intensify competition among you. Luckily, you made a killing in gold this time. Otherwise, I'd worry about you getting swallowed up in the market."

Julian chuckled, showing no concern about the increased competition Carter would face.

In fact, Carter wasn't too worried about it either.

As he hung up with Julian, Goodman arrived. Knocking on the office door, Goodman held an envelope, walking briskly to Carter's desk.

"What's that?"

"It's a risk warning from the FDIC! Whew, even though I know you made money, please don't take such risks in the future. I was terrified during last year's inspection."

Handing the envelope to Carter, Goodman sat opposite him, still trembling from the ordeal.

"Take a look. We're just 0.2% away from being forcibly liquidated!"

"Alright, alright. Don't worry, I'll try not to...risk too much. Haha, anything else?"

Tossing the envelope into a drawer without a glance, Carter had no desire to read it. He knew how close they had come to failing the previous year's inspection; seeing the specific numbers was pointless.

"That's all, just this. I'm here to remind you, it's okay to develop slowly, just don't take too many risks. Helping Douglas stabilize his employment situation and gradually expanding is good enough!"

After Goodman left, Carter was left alone with his thoughts. However, the news he heard from Goodman about the citizens' evaluation surprised him.

"People are saying Chris has a good son. They say you're just like your father, a generous man! If you ask me, you and Chris are nothing alike."

As Goodman recounted what he had heard, Carter couldn't help but feel a pang of embarrassment. Compared to his cheap old man, he really was different.

And this difference soon became apparent.

"What the hell! Is the FDIC crazy? My bank is a high-quality institution, and they go looking for a buyer at Ocilah Bank?!"

"Are they blind?!"

When Carter received a warning letter from the FDIC, it meant their inspection was over. Next came the liquidation!

They would issue warnings where needed and forcibly take over where necessary.

The day after Carter received the warning letter, he heard that a team from the FDIC had entered Pearson, a small city southeast of Douglas.

The bankruptcy of Pearson City Bank didn't surprise Carter. After all, he had just learned from Benjamin that Pearson City was facing a wave of unemployment.

This depression had already caused an 11% unemployment rate; who knew how bad it would get in the future. In such an economically ravaged city, the bank couldn't survive.

But what made Carter angry was that the team responsible for restructuring Pearson City Bank bypassed him and went straight to Kinet Bank in Osilla, northwest of his own bank.

Look at the distance between these two banks. One is southeast of him, and the other is northwest.

Well, this is like the FDIC's team walking past his house and ignoring his huge Blake Bank? Skipping it like playing "Yu the Great Taming the Waters"?!

"Did you forget about the warning letter in your drawer? Did you forget that in the eyes of the FDIC, our Blake Bank is just a 2.2% risk asset garbage bank?"

Goodman quietly moved his chair, avoiding being sprayed by Carter's spitting rage. He looked at Carter with some helplessness.

Indeed, distance creates beauty.

Only those unfamiliar with him would think he was just like Old Blake.

Goodman looked up at the ceiling, his eyes gradually unfocused. He thought of his mentor, Old Blake:

Ah, if Old Blake were still here, what would his reaction be?