Still, I Will Live As The Son-In-Law Of A Conglomerate [EN]: Chapter 189

189. 53rd. An Alliance for the End of the Century (2)

Isaac Rockefeller Jr. sighed, watching Henry’s face twist with rage at the mention of ‘Morgan.’

“According to our information, if our acquisition of Russian bonds had failed, they were planning to devour us instead. Those bastards.”

After replying, Isaac took a sip of his black tea, composed himself, and spoke calmly.

“We can’t rest easy until either we lose Chase Manhattan or the Morgans cough up JP Morgan. At this rate, I might end up seeing my father before you see your friend, haha.”

Henry snapped at Isaac’s bitter laugh.

“Don’t talk nonsense, Isaac! Do you think my friend entrusted you to me so I could watch you give up?”

Henry had been asked by his friend, Isaac Rockefeller Sr., to be the guardian of his son, Isaac Rockefeller Jr.

Isaac Rockefeller Jr. had also known Henry since childhood, meeting him with his father, and had received advice on management and life. He composed himself at Henry’s scolding and bowed his head.

“I’m sorry, Uncle. But the movements in Washington are unsettling. If the Glass-Steagall Act [a law separating commercial and investment banking] is repealed before next year, financial companies will be unleashed.”

“Of course. The congressmen are finally earning their keep from Wall Street.”

In May, the U.S. House of Representatives passed a law allowing commercial banks, securities firms, and insurance companies to merge across industries, and the Senate Finance Committee also passed a related bill.

Henry and Isaac were well aware that all of this was groundwork for the repeal of the ‘Glass-Steagall Act,’ which fragmented financial operations. Wouldn’t Congress use the logic that old laws should be abolished when new, opposing laws are created because they are outdated?

However.

Neither Isaac, who brought it up, nor Henry, who responded, showed any signs of welcoming the repeal of the Glass-Steagall Act, unlike people involved in Wall Street.

As they stared at each other with stern expressions, Henry took a sip of his tea and opened his mouth.

“We also had no choice but to give money to Washington politicians, but if the reins are loosened on Wall Street, it will lead to ruin.”

Henry wasn’t one to dabble in speculation unless he had the encouragement of his trusted friend ‘Johnny,’ who always said, ‘Losses must be compensated.’ Knowing this, Isaac nodded in agreement.

“That’s right. All sorts of risky products will circulate, and they’ll chase after money without even the slightest sense of dignity or propriety. But…”

Isaac hesitated for a moment before speaking to Henry as if confiding in him.

“Even though your family’s Triumph Capital has over 50 percent, including friendly shares, my family and I only have 30 percent in total.”

“But the Morgans’ JP Morgan stake is only about 26 percent. If I support you, it’ll be a fight worth fighting, wouldn’t it?”

With Triumph’s stake included, the Chase Manhattan stake that Isaac could rally would be close to 40 percent. Nevertheless, Isaac shook his head at Henry’s question.

“The remaining 60 percent of Chase Manhattan’s shares will approve the merger and side with the Morgans. So, our Rockefeller family will be pushed out of the merged company. Among our family’s assets, only the oil companies can support Chase Manhattan, but Exxon and Mobil are currently…”

Isaac trailed off, his face filled with regret.

Wasn’t the ambitious push to merge Exxon, Mobil, and Chevron, the successors of Standard Oil, under the banner of cost reduction due to the recession in the oil industry, to revive the glory of the Rockefeller family, actually a poison? Now that Chase Manhattan was in danger.

Henry looked at Isaac with pity and opened his mouth.

“It’s a silver lining that we didn’t merge with Chevron, but it’ll be a tough fight with less capital than Exxon and Mobil.”

Exxon and Mobil were the ace and king among the cards held by the Rockefeller family. They combined that ace and king to create the joker called ExxonMobil, but that ExxonMobil could only be used from 2001, when the restructuring following the merger was completed.

Until then, the Rockefeller family would have to rely on Chevron’s capital, which was only a jack or ten at best. Isaac could only nod with a bitter smile.

“Besides, there’s also the matter from when our grandfather Nelson was alive, so it’ll be difficult to mobilize the family’s liquid assets.”

Because Nelson Rockefeller exposed some of the family’s secrets to become president, the people of the Rockefeller family are extremely wary of their identities being revealed to the world.

But if large-scale funds are poured into the war, public attention will be focused, and all previous efforts will be meaningless. Isaac, who had to take responsibility for the family in this situation where he couldn’t do anything, was frustrated.

“Hmm…”

Henry paused after looking at him with pity.

“If you can’t find an answer by worrying for a long time, I think it’s better to put it aside for a while. Let’s just end our discussion here for today.”

“Yes, Uncle.”

He thought he would get advice, if not help, from his father’s friend… With regret, Isaac got up from the sofa with Henry.

***

From the day the moratorium burst, we traded put options according to the scenario.

When September came, Claire was hospitalized because her due date was approaching, and a few days later, she was taken to the delivery room.

“[Ahhh!]”

Sitting on the chair in front of the delivery room where only Sun Hae-cheol was allowed, Park Tae-jin and I swallowed hard, holding our hands together at Claire’s moans.

“It looks hard.”

“That’s what I’m saying.”

It wasn’t our wives’ childbirth, but we were just biting our lips. Weren’t we going to be fathers soon?

12 hours later.

“[Wah! Wah!]”

Claire’s screams stopped, and the baby’s cries began to be heard. I don’t know why my heart is so full even though it’s not our business.

***

Claire and Sun Hae-cheol were temporarily out of work due to postpartum care, but our sprint did not stop.

Under the command of Park Tae-jin and I, who filled the two people’s vacancy, Standard sold put options that were expiring quickly and reinvested repeatedly, and today, October 2, all transactions were completed.

“How much did we earn?”

“18 billion dollars in the U.S. stock market, 2.3 trillion yen in the Japanese stock market.”

Sun Hae-cheol, who had been coming to work with Claire since a few days ago after finishing postpartum care, rubbed his eyes several times at the bottom of the settlement report, as if he couldn’t believe the numbers he was reporting and saying…

“It’s a jackpot, a jackpot! If you factor in the drop in the Japanese exchange rate, it’s well over 20 billion dollars!”

Claire, who became the mother of two twin sons, jumped up and down at the more than 40-fold profit in the Japanese market, and…

“Since half of that is Standard’s share, it seems like we’ll have enough to repay the money we borrowed from Wall Street to invest in Korea. There won’t be any problem with Haedong Group repaying the 4 billion dollars borrowed from Chase Manhattan, haha.”

Park Tae-jin smiled brightly with a much lighter expression. I smiled as I looked at the three people.

“2 percent of this investment profit will be paid as special bonuses and shareholder dividends to all executives and employees of Standard Capital. Keep the remaining funds for a while longer.”

After giving the instructions, I immediately called my grandfather.

“Grandfather, it’s Seong-min.”

“[Oh, yes. Did things go well in New York?]”

“Yes, Grandfather. According to the settlement results, the confirmed profit is about 40 billion dollars. Half of that is for our family and Haedong Group.”

At my answer, delivered in a calm voice, my grandfather’s low exclamation returned.

“[Huh… Is there no end to a guy like you? Even though 40 billion dollars is almost half of our country’s budget, you don’t even show any signs of being happy…]”

“Money is just a number and a means. Rather than earning the money itself, I’m happy that I can do more good things with that money, haha.”

Half of the 40 billion dollars earned from this project was my money and the money of our family, Haedong Corporation, Haedong Investment & Finance, and Haedong Securities in Korean accounts. Now that Standard has established itself in Korea, we can earn as much as we need without hesitation.

My grandfather’s chuckle was heard to me, who was laughing leisurely.

“[Now it seems like you’re facing this grandfather of yours. To look at money as if it were a stone.]”

From the beginning of this life, money was just a tool for me. Still, I never thought I would hear these words from my grandfather, who always seemed like a big mountain, so I was deeply moved.

“Thank you, Grandfather.”

“[Thanks for what. When you come back from your business trip, show your face with your new wife. Our Dong-dong will come with you too, ehehehe.]”

After that, I shared family stories with my grandfather and hung up the phone. Park Tae-jin, who was watching from the side, asked me after I hung up the phone.

“Was that the Chairman?”

“Yes. He said that now it seems like I’m facing my grandfather, hehe.”

Park Tae-jin looked at me, who was smiling, with a satisfied expression.

“You’ve achieved this much at Director’s age, so it’s only right that the Chairman now looks at Director at the same eye level. Congratulations, Director.”

“Thank you, Hyung.”

Another phone call came to me, who was smiling as I firmly held each other’s hands with Park Tae-jin.

“Who is it?”

“[It’s me, Johnny. Did you earn a lot this time?]”

“We shared information and traded on a daily basis, so we must have earned the same amount, haha.”

During this put option betting period, Henry’s Triumph and my Standard shared information and traded put options through our two burner phone calls every day. Henry laughed heartily and countered my words.

“[Since both sides earned 40 billion dollars each, we made money to our heart’s content. What are you going to do with that money?]”

“I’m going to bury the profits from Japan in an index fund. I’m going to set aside the profits from the United States in preparation for loan repayments.”

We made a huge amount of money with this put option betting, but we still have over 6 billion dollars in debt to Wall Street banks. Since all of it was borrowed with stocks as collateral, we had to hoard cash in case we had to put up additional collateral or the interest rates became more expensive due to the stock price crash.

“[I see. Then you probably don’t have much to do right now, so I’d like to grant you the request you made the other day. Is that okay?]”

At Henry’s suggestion, my eyes widened for a moment. I quickly returned to my usual composure and opened my mouth with a smile.

“Is it a meeting with Isaac?”

“[That’s right. The place is my house, and let’s meet at 5:30 p.m. tonight. Isaac will come at 9 p.m.]”

“Tonight?”

It was unexpected. Henry is always a person who makes appointments with plenty of time, but suddenly he’s asking to see me today?

‘Is it because of that matter?’

There was one thing that came to mind, but I didn’t show it and said into the receiver.

“I understand, Henry.”

***

The four of us who arrived at Henry’s mansion enjoyed a splendid dinner in the dining room as before. After finishing the meal that lasted an hour and a half, we moved to the drawing room and drank cognac as an after-dinner drink.

“I think I’ll remember the champagne I drank today forever. Haha.”

The champagne we drank today was a 1959 Dom Pérignon Rosé Vintage.

Only 306 bottles of this champagne were produced, and even the former royal family of Iran, an oil-producing country, ordered only a few bottles. It was a legendary alcohol, and we drank two bottles of it today. Except for Claire, who is breastfeeding.

Henry waved his hand at me, who expressed my gratitude for the hospitality.

“What’s so great about treating a friend to a few bottles of that alcohol? Putting aside the money I earned thanks to you, Sun and Claire got married and even had children, so I’m just sorry that I’m only giving it to you now, hehe.”

Henry laughed heartily, but the alcohol we drank was not something that could be valued simply by its price. Whether it’s business or a personal relationship, Henry seemed to firmly believe in me.

After that, Henry’s butler approached us, who were having a lively conversation about what happened in Korea.

“Master, Isaac Rockefeller Jr. has arrived.”

“It’s already this time. Bring him in.”

“Yes.”

The butler, who left the drawing room, returned with a young man with silver hair.

“I’m here, Uncle. John Davidson Lee, who you said you’d let me meet… ?”

Isaac Rockefeller Jr., who announced that he had arrived as if he had come to a neighbor’s house, widened his eyes when he saw Park Tae-jin, Sun Hae-cheol, and Claire sitting on the sofa. Everyone smiled, and I approached Isaac and held out my hand.

“It’s been a while, Mr. Rockefeller. No, Isaac Rockefeller Jr.”

Isaac stared at me as if he thought I didn’t know anything about him. With his mouth open.

“Mr. Lee is… John Davidson Lee?”

“That’s right. I am that John Davidson Lee, Isaac.”

Isaac blinked and looked at Henry and asked.

“Is it true, Uncle?”

“It’s true, Isaac. John Seong-min Lee here helped me and our Royce family to rise again, and he’s my friend John Davidson Lee, who helped my friend and my daughter form a relationship.”

At Henry’s expression and voice, which were without a single flaw, Isaac let out a hollow laugh.

“Haha, I guess you got me good. If I had known you were John Davidson Lee, I would have had a more in-depth conversation with you two years ago.”

“At that time, we were wearing masks and treating each other cautiously, so let’s just think that we gave and took fairly, haha.”

Isaac, who was laughing heartily, grabbed my hand that I held out. As I shook hands with the same strength as the pleasant grip that was transmitted from hand to hand, I sat on the sofa with Isaac.

As we drank a sip or two of cognac and talked, our eyes widened at the reality of Chase Manhattan that Isaac revealed.

“JP Morgan is going to eat Chase Manhattan? What are you talking about?”

We couldn’t believe Isaac’s words.

Chase Manhattan’s market capitalization and financial power far exceed JP Morgan’s, so JP Morgan is eating Chase Manhattan?

The merger of JP Morgan and Chase Manhattan that I know was an event where Chase Manhattan ate JP Morgan.

I knew that fact and had Haedong Corporation take out a loan from Chase Manhattan, and in the process, I planned to leave a memory of me and then help Isaac’s JP Morgan M&A to build a relationship.

But JP Morgan is going to be the subject of the merger… What does that mean?