Back to 1995

Chapter 523
The Bank of Hawaii and the Alliance Bank are also helping several giant Wall Street banks to issue some funds, insurance, bonds and the like on weekdays, and they collect fees from them. Most of them are taken away by Goldman Sachs, but they can make a profit. Soup to drink.

But now, Goldman Sachs, Citigroup, and Morgan have obviously abandoned small banks and chose PayPal. This behavior of playing around the wind naturally dissatisfied the Alliance Bank and others.

In the past, they were squeezed by Goldman Sachs, Citigroup, etc., but at least they were useful, but now they are directly kicked away. To put it bluntly, even if they are treated as dogs, people hate wasting food...

On the phone, there were endless voices cursing at Goldman Sachs and others. These bank managers and people in charge also knew that Goldman Sachs abandoned them because of the tens of millions of leeks in PayPal's hands. It is beyond them!

"Damn it, PayPal has built a new server center in Delaware and is going to launch an offline business hall!"

As for the manager of Estor Bank, he suddenly received the news and couldn't help cursing on the other end of the phone.

"Also established an operation center in Arizona!"

Another muffled voice came from a bank in Arizona. They knew that PayPal was starting to counterattack.

What surprised the bank managers even more was that the person in charge of the Bank of Hawaii suddenly exclaimed, "Funk, PayPal has started to implement a half-year transaction fee-free business in Hawaii!"

This wailing, being able to hear the person in charge of the Bank of Hawaii, really broke the mind. PayPal took the Bank of Hawaii knife first.

Compared with other states, Hawaii has the fewest users, and PayPal pays the lowest cost and the least price. Naturally, it is the first to take the bank of Hawaii and directly start implementing a half-year free transaction fee. As long as it is a registered user in Hawaii, You can transfer and trade on PayPal for free within half a year!

After the Bank of Hawaii, another bank soon received news, "PayPal raised the interest rate of PMMF funds!"

This time, all the banks are no longer in the mood to hold conference calls. PayPal is obviously drawing money from the bottom of the pot, lowering the handling fee, in order to snatch away users, increase deposit interest, and let users withdraw dollars from their banks. It was obvious that they were going to be exterminated.

At this time, if there is any mood to hold a conference call, the management will start a meeting with the board of directors to discuss how to deal with PayPal's attack. If they don't do anything, they will really die.

PayPal, which was still being targeted before, immediately launched a counterattack after cooperating with Goldman Sachs and Citigroup. And cities, promote low transaction fees, and continue to rob users of these local banks.

It also backhandedly increased the interest of PMMF funds, allowing more people to deposit dollars on the PayPal platform. This wave of attacks was extremely fierce, and it started the offline advertising model, which was no longer limited to online. , allowing PayPal to achieve the feat of adding one million users in a single day in America.

Seeing that PayPal and Alliance Bank are in dire straits, and these traditional banks can't help PayPal, Wall Street has a new understanding of the combat effectiveness of Internet companies.

In addition to counterattacking its opponents, PayPal also used the honeymoon period with Wall Street to continuously borrow long-term funds to prepare for a few years later.

But what really feels uncomfortable is Prosperity Bank headquartered in Houston, but it is gloomy. Since last month, the business of Prosperity Bank has dropped by more than [-]%!

Small and medium-sized banks all over the world are basically the same. If a small bank wants to survive, it must have the support of the local municipal department and large companies. This is an iron rule, that is, it must have its own headquarters, otherwise it will be a tree without roots , The wind blows and it falls.

Prosperity Bank, which previously relied on the Houston Municipal Department, as well as energy companies such as Enron, ConocoPhillips, and Bakers, as well as a number of technology companies, will part of the settlement and transfer, including deposits, wages, etc. Hand it over to Prosperity Bank, otherwise why a small bank can achieve more than 100 billion US dollars in revenue a year.

But now, all this has changed. Since the emergence of PayPal, the Houston Municipal Department has begun to slowly transfer various businesses involving US dollars from Prosperity Bank.

Enron and other energy companies no longer deposit US dollars in Prosperity Bank, and do not choose to use Prosperity Bank to pay staff salaries. This blow is really too big. If there is no accident, the next In the first quarter, Prosperity Bank's revenue basically collapsed, and the stock price has fallen by more than half. Investors clamoring to sue Prosperity Bank have lined up...

But now, for Prosperity Bank, these are not the key points. The most important thing is to be able to survive, otherwise everything is empty talk.

Conor came to the Houston City Hall again and had been waiting for nearly two hours. He knew that Adrian didn't want to see him, but as the president of Prosperity Bank, he was still waiting .

Some people from the Houston City Hall who recognized Conor glanced at him and left in a hurry, as if they hadn’t seen anything. At the beginning of the year, these people regarded Conor as a big shot in treat.

For this kind of scene, Conor is not surprised. This is America, and everything depends on social status and power. Without these two, even if he was given to him yesterday, he will still be given to him like a tramp today. ignore.

Seeing the scene where Conor seemed to refuse to leave until he saw Adrian, the door leading to Adrian's office finally opened, and a figure came out.

Seeing the figure coming out, Conor finally got up, put the windbreaker on his arm, picked up the briefcase, and looked at the chief of staff Matthews in front of him.

"President Conor, Mayor Adrian, please come in!" Matthews stepped aside and said to Conor.

Conor nodded and said to Matthews, "Thank you, Matthews, I have already booked the restaurant in the Houston Hotel. If you have time, you can go to dinner with your wife, and there will be a London dance at the Grand Theater in the evening. group performance."

Hearing these words, Matthews sighed in his heart. He and Conor were old acquaintances, and he didn't expect that Conor would end up in this situation now.

After Conor went in, Matthews closed the door.

After seeing Conor, Adrian got up like an old friend, hugged Conor, and muttered, "I'm really sorry, Conor kept you waiting, you know, recently too busy!"

(End of this chapter)