Miss President wants to talk to you

This made the crowd even more excited.

"Ms. Rosef!"

A middle-aged woman waved her bankbook and shouted at her:

"Can you help me get my money back?"

This seemed to remind the others, and they immediately began shouting:

"Ms. Rosef! I deposited eight hundred dollars in this bank! Now they won't let me withdraw it!"

My son's tuition is due next month!

"And my retirement pension!"

"Have we already lost all our savings?"

One problem after another.

They don't give people any time to think.

Rosef finally believed it; these people really did have endless things to say.

And every sentence he uttered was a plea for help from her.

Even if you don't say anything, they can keep talking.

but……

That's not right.

I should say something.

Yes.

I should say something.

Eleanor stood to the side, quietly watching Rosef's performance.

He recalled a conversation he had with Roseve on the way here.

“Mr. Eleanor”.

Rosef asked, "Since depositors want to withdraw their money, why doesn't the bank give it to them?"

Eleanor didn't criticize Rosef, who didn't even understand this.

He answered the question very bluntly: "Because the bank has no money."

"How is that possible!"

Rosef didn't believe it at all. "How could the bank not have money? Everyone clearly puts their money in there!"

So Eleanor spent some time explaining to Rosef the workings of the bank.

The money deposited by customers in the bank does not remain in the safe forever.

The bank will use it for investment and then collect the profits.

Only a portion of the money is left as reserves to meet the public's daily cash needs.

As a result, all depositors are now withdrawing their money at the same time, and the banks' reserves are completely insufficient, which is why they have started to collapse one after another.

This situation is a liquidity crisis caused by a bank run.

Upon hearing this, Rosef felt that something was amiss.

"Then why are depositors starting to withdraw money in such large quantities?"

"Because of fear, fear that the bank will collapse and I won't be able to withdraw my money."

What is it that makes them so afraid?

Rosef said, "Banks have been operating for so many years, why are people worried about them failing today?"

There's so much to say about this.

The Roaring Twenties saw a period of blind optimism in investment, leading to a massive financial bubble.

During the Great Depression, industries collapsed one after another, and banks were filled with bad debts.

Of course, there is also the most important

“Miss Rosef, do you remember the newspaper report you saw before about Prosecutor Pecora investigating Wall Street?”

Rosef nodded; of course she remembered that Hoffer had called because of this report.

"Countless Wall Street executives have been embroiled in scandals, leading to a growing distrust of banks."

Finally, as if concluding a statement, Eleanor said...

"Now, whoever can solve the trust problem will be able to solve this liquidity crisis."

Let's go back to the present.

Looking at the people seeking help, Rosef recalled her earlier conversation with Eleanor.

Does this solve the trust issue?

Yes, bankers are indeed not trustworthy; they go too far.

They use depositors' money to invest at will, pocketing the profits while leaving all depositors to bear the risks.

this is not right.

The current banking system is problematic.

At this moment, Rosef remembered the bills she had memorized, drafted by her mother and intended to be enacted after she took office.

Especially those concerning banking laws.

She seemed to suddenly understand why her mother did that.

Bankers are not trustworthy, so we must use tactics to deal with them.

Rosef raised her head.

She knew what to say to these people.

Perhaps you genuinely distrust bankers and are afraid of not getting your money back.

But you can trust me!

I'll help you get your money back!

Chapter Thirteen: Miss Rosef in the Center of the Crowd

At this moment, those people were still telling Rosefellow what they had been saying.

They were very worried and panicked.

They have lost too much since 1929.

Work, life, dignity, even respect...

Now, they don't want to see themselves lose even the money they have in the bank.

Rosef is their last hope.

If, they say if.

Even Rosef couldn't solve this problem; the Federation was determined to take everything away from them.

Then there is no need for this federation to continue to exist!

At this moment, Miss Rosef slowly took a step forward.

They walked very slowly.

It even looks a bit unstable.

But the crowd fell silent.

All eyes were fixed on Rosef.

Rosef stood there, looking at those faces.

Exhaustion, anxiety, despair...

Then Miss Rosef spoke.

“I have heard your voices, and this is exactly what I worry about every day.”

Eleanor was somewhat surprised by Rosef's performance.

What's wrong with this white hamster?

Why did your aura suddenly become so strong?

This isn't the first time this has happened; it was the same when I spoke with Hoffer last time.

He usually seems timid, but at certain moments, he becomes incredibly powerful, as if summoning a deity.

Does Miss Rosef have some special power spike mechanic?

But what are the triggering conditions?

At this moment, Rosef took a deep breath.

There was no prior rehearsal; she simply said what she wanted to say:

"Ever since I was elected president, I've been thinking about why the Union has become what it is today, and where things went wrong?"

Eleanor: ?

Something about that tone sounds off.

Rosef, Rosef, you've even learned to lie!

When did you ever think about these things?!

At this moment, Miss Rosef's voice became more and more steady, and her speech became more and more fluent.

He exuded unparalleled confidence.