hurricane Investment Company.
Vice President John Monaich roared at his employees, "Find him! You must find him for me!"
He was furious.
Why?
Because Henry Jurgenberg, the former president of Gale Capital, current president of hurricane, and a "star" figure in Wall Street finance, had fled!
That's right, Henry, knowing he was doomed, chose to abscond with the money.
"Utterly despicable!"
"Damn Henry, why should we pay for the sins he committed?!"
For a time, all the employees of hurricane Investment Company were filled with anger, but even more so with panic.
Since its establishment, hurricane Investment Company had invested a substantial amount, over $1 billion, in NASDAQ internet and tech stocks, nearly all of the company's raised capital. Before the crisis erupted, they had made a considerable profit, walking around proudly and dressing impeccably. Now, with the dot-com bubble's arrival, hurricane was finished.
It was over even before NASDAQ closed that day, unable to last even a few hours.
Upon hearing the news, customers immediately gathered, hundreds of them, coming to the company for an explanation. Many even held up placards and protest letters.
"Where's Henry?"
"That damn guy, he made me lose a fortune!"
"I originally invested in Gale Capital, and it was only because I trusted Henry that I put in a large sum. Now what? That damn guy, he cheated me~"
"Henry, get out! Get out!"
The hundreds of investors gathered downstairs were all filled with rage. If it weren't for a group of security guards blocking them, and even the local police arriving upon hearing the news, these bankrupt investors would have surely rushed in and torn Henry to shreds.
Thump thump thump!
Just as Vice President John Monaich and others were panicking over Henry's flight, two outsiders entered hurricane Company.
One: Detective Morris from the Wall Street local police department.
Two: Ms. Linda, a senior property management executive from the Bear Stearns Building.
Detective Morris said, "Vice President Monaich, I presume you've seen the situation and public outcry downstairs. We've also received over a hundred calls from the public. Please cooperate with our work now; I need to take Mr. Henry Jurgenberg with me."
Henry?
John Monaich immediately looked distressed. Should he tell the police that his boss had absconded?
He dared not!
If he said it now, the hundreds of angry people gathered downstairs would tear him to pieces. Even if he didn't die, he wouldn't have an easy time.
At this moment, he truly felt like a mute eating bitter herbs—unable to express his suffering.
As a senior property management executive of the Bear Stearns Building, and backed by Bear Stearns, one of Wall Street's five major investment banks, Ms. Linda was not so good-tempered.
Ms. Linda took out a notice from her briefcase and said in a deep voice, "Mr. John Monaich, this is a notice from Bear Stearns to your company. Your company must vacate the Bear Stearns Building within two days. Remember, this is not a negotiation, but a notice."
"No~ You can't do this, we signed a contract," John Monaich said anxiously.
The company was already on the verge of collapse; moving out of the Bear Stearns Building would truly mean its complete demise.
"Mr. John Monaich, please rest assured, Bear Stearns is a legitimate company and will pay the breach of contract penalty," Ms. Linda said.
Breach of contract penalty?
What John Monaich needed now was not that. Even if this penalty were dozens, or even a hundred times greater, it wouldn't plug the hole of hurricane's losses.
Bear Stearns, as one of the five major investment banks, although it suffered heavy losses in this internet bubble, it was a large corporation and could afford the payout.
"Huh?"
At this moment, Detective Morris, who was observing, suddenly said, "Why isn't Henry Jurgenberg coming out yet? Do I need to go to his office myself to ask him to come out?"
Ms. Linda, standing nearby, echoed, "This document also needs Henry's signature."
"This, this, this..."
John Monaich felt as if the sky was falling at that moment, saying, "Henry Jurgenberg is not here. To be precise, he didn't come to the company today, and the company's remaining $6 million in cash has also disappeared."
That was quite a euphemism!
In reality, he had absconded!
Immediately, Detective Morris and Ms. Linda both turned pale with shock... The next day.
Newspapers and media across the US reported frantically on NASDAQ under the "internet bubble."
The New York Times published a front-page article stating: "This is the most insane day since the establishment of the NASDAQ exchange, and even since the founding of America. The speed of stock price decline has exceeded every previous economic crisis."
The Washington Post stated: "3 trillion dollars, evaporated overnight. As wild as the internet boom once was, that's how pathetic and dismal it is now."
The Chicago Morning Post reported: "In just one day, over 500 companies on NASDAQ declared bankruptcy, and more than 100 companies announced delisting. According to incomplete statistics, with the outbreak of the NASDAQ crisis, over 500,000 people across the US will lose their jobs in the next three months."
Bloomberg reported: "Under this bubble, no one is safe."
On this day, whether it was financial media, political media, or even entertainment media, all published front-page stories.
Losing 3 trillion dollars in market value in one day was truly shocking!
It's important to note that the US federal government's total fiscal revenue for the entire year of 2019 was barely over 3 trillion dollars!
The internet bubble, ignited by NASDAQ, thoroughly shocked the world.
But what were Wall Street investment banks doing now?
"Doing what?"
"Hehe~"
"Since we've suffered huge losses in internet and tech stock investments, we certainly need to recover those losses now!"
"As for how to recover? Does it even need to be said? Naturally, it's by aggressively shorting various listed companies."
One man's poison is another man's meat.
While Kyle's Gale Capital was shorting the stock market, major investment banks like Goldman Sachs, Bear Stearns, and Merrill Lynch naturally wouldn't miss this opportunity. Even commercial banks like Citi and Wells Fargo also rushed in to short...
Gale Capital.
"What?"
Kyle looked shocked, exclaiming, "Henry actually ran away?!"
Andy Cherop chuckled, "From the information provided by the police, it's highly probable that Henry has absconded."
For a moment, Kyle's heart was filled with emotion and endless melancholy.
Not long ago, Henry Jurgenberg was a star figure on Wall Street, a billionaire, an object of envy for countless working-class and middle-class people, and an elite magnate admired by numerous investors.
But now?
Henry actually chose to end his career in this manner.
At this moment, a memory suddenly surfaced in Kyle's mind.
During the 1997 Asian financial crisis, when Ares, the boss of the then-somewhat-famous Ares Investment Company on Wall Street, went bankrupt and jumped to his death, Henry had said some things to Kyle.
"Boss, you don't need to sympathize with him, nor do you need to pity any of them."
"People in our industry are filled with greed for wealth, and their egos are extremely inflated. Mansions, yachts, jewelry, high-end art, and so on, are all their standard accessories. Extravagance and debauchery perfectly describe people in our industry. Therefore, let alone Ares jumping off a building, even if I jump off a building one day, Boss, you don't need to feel any regret."
"Coming from tragic risks, and ultimately returning to tragedy, that is the fate of a Wall Street worker."
The memory that surfaced in his mind made Kyle not only sigh but also feel a sense of melancholy. Therefore, Kyle decided... to continue shorting the stock market.