Chapter 366: Dawood's trump card

It cannot be said that the Morgan Trust was slow to act. Just the day after Jack and Zhou Ming had spoken on the phone, the Kelfeng Risk Asset Management Company, which was wholly owned by the Morgan Trust, announced to the media that because the Daewood consortium had refused to honour the contract, he would sue in court to rescind the contract and demand that Daewood Bank return the 15 billion in capital and pay a compensation of 3 billion US dollars.

'We were full of sincerity, hoping to help Daewood Bank get through this difficult time, but everything turned out like the story of the farmer and the snake. We we lent a helping hand, but he deceived us. Not only did they fail to fulfil their obligations under the agreement, they also failed to deliver the 15 billion in non-performing assets on schedule.'

'This is undoubtedly the worst kind of deception! We can provide free aid to the poor who cannot afford to eat, but we will never tolerate any cheats or scoundrels. So in this lawsuit, we will make Daewood Bank pay the heaviest price for their irresponsible actions!

These were the words of the Kerr company to all the media, and when these words were broadcast on TV through the media, George of the Daewood family immediately lashed out.

'Damn damn scoundrels, the Morgans are the most shameless villains in the world! They obviously started it, whether by cheating or breach of contract, so why are they so skilled at shifting the blame onto us?' George was furious as he shouted and pounded the table.

'Why why did the Morgans do this? Shouldn't they have joined forces with us? Why did they betray us? Did the Downes offer better terms?' Wood also said blankly, as if he could hardly understand the Morgans' betrayal.

After After a tirade, George calmed down and said to Wood, 'My boy, do you remember what I told you? In the world of money, there are no allies. The Morgans have always wanted to establish themselves in Etruria, they have never been our friends, and they never will be. So their betrayal is no surprise.'

As George's reminder made Woodston remember something. He added, 'Father, so you predicted long ago that the Morgans would betray us? That's why you didn't do anything when the Downes took their revenge on the Morgans, isn't it?'

George scoffed, 'Revenge? My boy, you are naive. Do you really think that what the Downes did was really revenge against the Morgans?'

Wood stood there, clearly unable to understand what George meant.

George then said to him, 'Think carefully about each step of the revenge that the Downes took against the Morgans. Did it cause the Morgans any real trouble?'

Wood suddenly realised: 'Father, you are right. Although the Down family appeared to be shouting at the Morgan family, in reality, every step of their revenge were just enough to get a reaction. As soon as the Morgans made a move, the Tangs would immediately back off. I originally thought that the Morgans were too powerful, but now it seems that they were just doing it on purpose!'

Wood Woodton paused before continuing, 'I was suspicious from the beginning. After all, the retaliation between them ended with their stocks not only not falling, but rising instead. This is strange.'

George nodded: 'They were putting on a show for us. They thought they were good actors, but in reality they were just two clowns putting on a show.'

Speaking of George sighed again, 'It's just a pity that I didn't see their plot earlier, otherwise we wouldn't be in this situation. Fortunately, it's the weekend.'

George said with a bitter smile, because that was the case. Due to the Morgan family's lawsuit, not only would the Bigwood Bank have to return all of the $15 billion in non-performing assets, but it might even have to bear 30 billion dollars in compensation. In the current situation of the Greatwood Bank, such a lawsuit is undoubtedly adding insult to injury. If it weren't for the weekend non-trading day, it is clear that the shares of Greatwood Bank would face a massive plunge.

However George and Wood both understood that it was just a matter of immediate execution and reprieve, and that even if the market settled over the weekend, the explosion on Monday would be even more terrifying.

'Is there any way to save it, or stop the stock market?' Wood asked.

George shook his head: 'There is no way at all, unless we can solve the problem of the 15 billion dollars of toxic assets within these two days.'

Wood was silent, because he knew very well that George had followed his words with the words 'It's simply impossible.' Or perhaps it could be said that even if they were able to solve the problem of the 15 billion dollars in toxic assets, it did not mean that they would be able to solve all the problems, because with the abilities of Zhou Ming and the Morgan family, they would definitely come up with other plots.

Wood thought, and he started to rant again: 'Damn it, why is this happening? Why don't Ming Zhou and those guys from the Down family just die already? Why did the Morgan family suddenly change their strategy after cooperating with us so well? Does God really favour that guy Ming Zhou that much? This is couldn't be worse!

George lightly patted Wood's hand and said to him, 'There's no need to rush. My boy, the Wood family has been established in Etruria for more than two hundred years. Over such a long period of time, our family has also experienced many betrayals. The reason we have been able to survive until now is because we still have our trump card.'

Hearing this Wood's eyes lit up. He asked in surprise, 'Father, do you mean to say that we have a special trump card? One that can deal with both the Down and Morgan families?'

'No that powerful, but at least it can help us get through this difficult time with ease. We can only wait until this is over before we settle our scores with the Down and Morgan families,' George snickered.

As Kerr & Co. filed a lawsuit in court, the Morgan family took the initiative to initiate a conference call with Zhou Ming and Tang Ran.

Since Jack had already understood who was in charge during previous meetings, so he went straight for the target: 'Mr. Zhou Ming, with your interest in current affairs, I think you must already know today's news.'

'Are you referring to the lawsuit brought by Kerr Risk Asset Management against Daewood Bank?' Zhou Ming said, 'To be honest, this really surprised me. Although I believed you would take action, I didn't think you would be so direct. This has really screwed the Daewood family.'

'Zhou Zhou Ming is really very concerned about current affairs,' Jack continued. 'I just wanted to be more direct. At least my advisors have told me that if I return all of their 15 billion in non-performing assets, they're finished. But it's just a pity that today is not a trading day, otherwise the shares of Daewood Bank would definitely collapse again.'

'It's only a matter of time before it collapses, so is Mr Jack calling now to deliberately offer me credit?' asked Zhou Ming.

Facing this question, Jack was delighted: 'If I could take credit for it, I don't think I would mind, but I can see that you are not the type of person who would accept credit. So this call is just to exchange ideas and discuss what to do next.'

'This is only natural, because we can't wait for the Daewood family to collapse on its own. So, Mr. Jack, do you have any good suggestions?' asked Zhou Ming.

'I know that no matter where you are, the only thing that can be maintained is money. The Daewood family is still able to rule over Etrile because he controls the most money in Etrile. So if we can find a way to make him lose more money, it will speed up their collapse.

'Please forgive me for saying so, Mr. Jack, but you are essentially throwing the problem back at me. The Morgans are the experts in the money business,' Ming Zhou said.

Jack said, 'Mr. Ming Chow, you are too kind. I think since you are the one who is planning everything, I should respect your choice. Of course, I also trust your choice more.'

'Since I will not decline.' Zhou Ming said, 'My idea is very simple: continue to create a run on the Bigwood Bank and at the same time launch a takeover of other companies controlled by the bank, and make sure they spread their meagre funds even further.'

'Very simple method, but it is very practical.' Jack said, and then thought for a moment before asking, 'But Mr. Zhou Ming, even if we have explained the current situation, we still cannot underestimate the Daewood family.'

Zhou Ming thought of something and asked, 'Mr. Jack, do you think he has any more cards up his sleeve?'

'Mr. Zhou Ming, as you should also know, the United States is a young country, with only a few hundred years of history in history books. The Daewood family has existed . So over such a long period of time, naturally it will have its own heritage and unknown secrets. The Daewood family is no exception. That is why I think that the closer we get to victory, the more careful we must be,' Jack reminded him.

'I I see. Thank you very much, Mr. Jack.' Zhou Ming then changed the subject, "But I do think, what if Mr. Jack's trump card also fails?'

'Then the Daewood family will be completely defeated!" Jack laughed, 'It seems that Mr. Zhou Ming is more ruthless than I am, and he actually doesn't give the Daewood family a chance to turn things around.'

'Using using the same method as the other side, didn't he do the same thing when he teamed up with the Morgan family?'

Zhou Ming teased, then hung up the phone. After closing the phone, Zhou Ming turned his head and asked, 'Mr. Mayor, now can you believe my cooperation with the Morgan family?'

Sitting Martin, the Mayor of Etly, was sitting next to Ming. Although Ming had already explained it clearly to him last time, he still didn't believe in Ming's cooperation with the Morgan family. So Ming prove it, he had to bring him to this conference call. However, to ensure the call went smoothly, Ming asked him not to say a word.

Martin obeyed and indeed did not make a sound while Zhou Ming was on the phone. Even now, he is still very excited and says, 'Mr. Zhou Ming, this is really incredible. I never thought you would really join forces with the Morgans. Now the Greatwood family has no way out!'

Zhou Ming patted Martin on the shoulder and said to him, 'This also requires the support of the mayor, and the run on the Bigwood Bank needs to be more intense.'