The Opportunist from SCC
Clark Street, at the intersection of Belmont Avenue—one of the oldest streets in Chicago.
This thoroughfare, the beating heart of the North Side, refused to dim its lights until dawn, even in the midst of the worst economic depression, which had frozen the city as solid as a midwinter frost.
It was a center of consumption, lined with theaters, speakeasies, and various shops; it was the very front line of Chicago’s trends. And sitting on the most expensive plot of land on this street was none other than a bank.
[Lake View State Bank]
Lake View State Bank.
A long line had formed in front of this small bank, which primarily dealt in local mortgages and retail loans, even before business hours had begun.
"What's this?"
"Is something going on?"
"Don't tell me... is that place in trouble, too?"
Across the United States, newspapers were plastered with bold headlines about small banks failing one after another. Having already felt the brutal sting of the Great Crash last October, most passersby hurried along, counting their blessings that they hadn't deposited their own money in that specific institution.
However, not everyone was so lucky.
"Excuse me, why is there such a long line in front of the bank?"
Edward, who had emerged from a nearby speakeasy with a look of anxiety, approached the people in line and asked. It was a man at the very back who answered.
"I don't know about the others, but I'm here to pull my money out."
"Your money? Is something wrong with the bank?"
"The furniture factories in Rockford are going bankrupt one by one, and I heard this bank invested quite heavily in them."
"I-is that true? Then the money they invested..."
At Edward's panicked question, the man in line scoffed.
"It's gone, obviously. Why even ask? There are so many banks failing these days, aren't there? You have to pull your money out while you still can."
"No, does that mean I might not be able to find the savings I have here...?"
"If there's cash left, you might get it, but only the bank president and God know if there's any money left in the vault. Still, it's better to pull it out a day early than to weep tears of blood later. I don't know for sure, but everyone standing in this line is thinking the same thing."
"Oh no, my son's tuition is all in there..."
"You'd better get in line behind me before it's too late. Honestly, there are so many people here, I don't even know if we'll get anything."
"I, I need to go get my passbook right now."
"I'll hold your spot, go ahead."
"Th-thank you."
That was when it happened.
"Extra! Extra! Another bank in Nashville has closed its doors! One cent for the news!"
The shout of a boy selling newspapers to the people in line sounded like the call of the Grim Reaper to Edward.
"Oh, god, this is a disaster! I have to hurry...!"
Edward wasn't the only one gripped by terror.
"Another bank failed?"
"Then what about that one?"
"Look at that line, is something really wrong?"
The newsboy's cries announcing bank failures, the man running off with a terrified expression, and the long line of people waiting before opening hours—for the local merchants who used Lake View Bank, that was more than enough to trigger a full-blown panic.
"My entire last month's revenue is in there...!"
"I have to get in, no matter what. I have to be the first."
The line, which had started with about ten people, suddenly began to swell past one hundred, then two hundred.
And finally, when the clock struck nine and the bank opened its doors:
"My money! Give me my money, you bastards!"
With the desperate scream of Edward, who had been the first to set foot inside, the bank run on Lake View State Bank began. The fact that there had been ten people standing in front of him had long since been erased from his mind.
“Consigliere, Lake View Bank suspended operations ten minutes ago. Perhaps because of that, withdrawals have started at Immel Bank as well.”
“What about the reporter?”
“He seems to have snagged some good photos. They’ll likely start appearing in this evening’s papers.”
“Everything is proceeding well, then.”
I nodded and lifted the receiver on my desk.
“Connect me to the Police Chief.”
—Understood.
Click—!
I heard the sound of the operator connecting the line, and a moment later:
—Ahem, what is it? Mr. Lee.
The Police Chief, whose voice I knew all too well, asked with a flustered cough.
“Ah, I have a report to make.”
—A report, you say?
“I heard that the area in front of Lake View Bank is in chaos because of the crowd.”
—Oh, is that really true?
“Yes. I thought it would be best for the police to be dispatched before any untoward incidents occur, so I reached out.”
—I appreciate the report, Mr. Lee. I will dispatch officers immediately.
“Thank you.”
Click—!
After hanging up, I put a cigar in my mouth, which I’d left in the ashtray. I had promised myself I wouldn't smoke in this life, but look where that went.
I looked at Gu-jik with the cigar still between my lips.
“The Chief is going to move personally.”
“I suppose it’s a good opportunity for him to earn some credit. The economy is bad, and showing the police as heroes protecting a bank from a mob will play quite well with the citizens.”
“And we can protect the assets inside the bank.”
It wasn't out of a sense of justice that I reported it to the Chief, who had been well-fed by the organization's money. In the face of an unprecedented event like a bank run, bank employees usually fall into a state of panic and fail to respond properly.
And there are always rats lurking, waiting for that opening to steal gold bars, valuables, or bonds from the bank.
Moving the police through the Chief was to drive those rats away and secure what we needed to take.
“Still, I never thought this would actually work. It seems I can never keep up with the Consigliere’s mind when it comes to these things.”
“To deceive people, you must mix one percent of a lie into ninety-nine percent of the truth.”
Under normal circumstances, it wouldn't have worked. If people were lined up at a bank during a healthy economy, they’d think, ‘Did they release a good product?’ rather than, ‘Is the bank going under?’
But right now, the first wave of the Great Depression was swallowing America whole.
“As Wall Street collapsed, small banks with insufficient funds have been failing one after another. People are already gripped by fear. I simply helped them realize what was already hiding in their hearts.”
Furthermore, according to Gu-jik’s information, Lake View Bank’s investment failure was a fact, so it would have closed its doors on its own in a few months anyway. I just moved the timeline up a little bit.
By the way, that line sounded like something the mustache guy’s friend would say, but I used it first.
“Did you find the friends who will stand in line at Immel Bank tomorrow?”
“Thanks to the factories shutting down, there are plenty of people out of work. When I told them they’d get 10 dollars just for standing in line, they flocked like clouds.”
Well, in a world where it’s hard to even buy a loaf of bread, standing in line for three hours for 10 dollars isn't a bad deal.
If I hadn't ended up in this position, I might have been standing in that line myself.
“You don’t need to make them act like you did this time. Just standing in line and staring at the ground will be enough to draw people in.”
“Then, what should we do about Sheridan Trust & Savings Bank?”
“Leave it for now. They said that place focuses on real estate trusts, so they should be able to hold out for a while longer. There’s no need to scare them and make them prepare in advance.”
The spark I’d ignited would soon spread to the entire secondary financial sector targeting Chicago’s citizens. It wasn't enough to take down the large investment banks—the center of Chicago finance, or what could be called the primary financial sector by my past life’s standards—but since the gold standard had been indefinitely postponed and the Great Depression was accelerating, they would likely struggle to hold on in about a year.
First, though, we had to take care of the small fry.
“Mr. Gu-jik.”
“Yes, Consigliere.”
“Then, let’s start preparing for the hunt.”
We’d succeeded in herding the prey; now it was time to pick up our guns and step out ourselves.
The atmosphere at the Illinois Auditor’s Office, Banking Division, Chicago Branch, located in a building overlooking the Chicago River, was reminiscent of a battlefield.
Ring-ring-ring—!
“We are currently verifying that case. We will write up a report and send it to you as soon as possible, so...”
“The only thing we can do right now is find an acquirer! Or ask the federal government for money!”
Ring-ring-ring-ring—!
“This is James from the Chicago Tribune! With Immel State Bank suspending operations, two state banks have now closed their doors. Regarding this situation...”
“Get out! You’re interfering with our work!”
“Don’t be like that, just one word...”
The three telephones on the desk rang incessantly, and outside the door, the bickering between reporters looking for a scoop and the staff continued.
“Ugh...”
As the office, which had been peaceful just last week, turned into hell, Arthur Henderson, the branch manager, groaned while clutching his aching stomach.
The phone call he’d received from the Governor’s secretary just a moment ago echoed in his ears.
‘Solve it, no matter what. If you can’t, be prepared to lose your job.’
“Crazy bastards, how on earth do they expect me to solve this...”
Even as he spat out curses, his eyes, squinting in pain, turned to the front page spread carelessly across his desk.
The photo plastered in bold under the headline on the front page was none other than his own face.
[The incompetent-looking face of Arthur Henderson, Branch Manager of the State Auditor’s Banking Division]
“Incompetent, my ass. And where on earth did they get that picture?”
Of course, the source of the photo didn't matter anymore. What was truly important was that if he couldn't find someone to acquire the closed banks as quickly as possible, not only would his job vanish, but he would also earn the title of the most incompetent man in Chicago.
‘A bank is a bank because it has money. What kind of lunatic would want to buy an empty bank that’s nothing but debt?’
Naturally, he had tried everything to find someone to acquire the banks, but in a situation where investment fervor had cooled to ice in the wake of the Great Crash, there was no one willing to acquire a bank that was already confirmed to be bankrupt.
‘Damn it, I’m finished. Should I start by selling my house in Chicago?’
Just like that, a bleak life after being fired was being vividly painted in Henderson’s mind.
That was when it happened.
“Nice to meet you, Branch Manager.”
“Huck!”
As an Asian man in a coat suddenly appeared, Henderson jumped in surprise, snapping out of his imagination.
“Wh-who... no, more importantly, how did you get in here? You shouldn't have been able to get past the security...”
Henderson tilted his head, finding the Asian man’s face strangely familiar.
“I told them I was here for business, and they let me in.”
“Business? That’s impossible...”
Thud—!
The Asian man nodded lightly at the flustered branch manager, took a light green check out of his wallet, and placed it on the desk.
[2,000,000$]
“...”
“I’m from SCC. We intend to participate in the acquisition of Lake View State Bank and Immel State Bank. Could you please check the documents?”
To Henderson, who was left speechless, Lee Jun pulled documents from the bag he was carrying and offered a deep, knowing smile.