Seoul, outside Uijeongbu Prison.

It was still early dawn, before the sun had risen.

The prison gates, which had remained firmly shut, finally opened and people began pouring out.

A line of inmates being released continued one after another.

At the very end of that line stood Cheon Jiwon.

As the others left, Cheon Jiwon remained in front of the gate, looking around.

“Hey, Cheon Jiwon!”

Someone called out to him in a sharp voice.

“What now? Quit ordering me around. You're already annoying me.”

“You actually came out.”

It was Cheon Jisoo, who had come to pick him up at dawn.

The corner of Cheon Jiwon's mouth curled upward when he saw her.

As he muttered to himself, Cheon Jisoo walked over.

“What are you mumbling about? Here, eat this. Seriously, you're such a pain.”

Irritated, she held out a block of white tofu.

Cheon Jiwon laughed, took it, and stuffed it into his mouth.

“I didn't think you'd come.”

“If Mom hadn't asked me, I wouldn't have. What good comes from getting involved with you?”

The answer came back as sharp as ever.

Cheon Jisoo had disliked Cheon Jiwon since childhood.

Simply because he was the eldest son, everyone had placed enormous expectations on someone who lacked any real ability.

Then Kim Muhyuk entered the picture.

She had given up everything, accepted the scraps he tossed her way, and built her independence.

Though calling them scraps was misleading—the scraps had been enormous.

Still, Cheon Jisoo had never regretted her choice.

If Cheon Jiwon had inherited everything from their grandfather, she wouldn't even have received those scraps.

“Where's the car?”

Cheon Jisoo jerked her head toward the rear.

Two vehicles were parked there.

“Here's the key.”

She tossed a car key to him.

Catching it effortlessly, Cheon Jiwon said,

“Muhyuk's doing pretty well these days.” 𝕗𝗿𝕖𝐞𝐰𝗲𝕓𝐧𝕠𝕧𝗲𝐥.𝚌𝐨𝚖

The moment he mentioned Kim Muhyuk, Cheon Jisoo sneered.

“He's doing well? No, he was always exceptional. We were just too late to realize it.”

“Hm...”

“Let me warn you. Stay away from Kim Muhyuk. If something happens between you and him, I'll kill you myself.”

“Haha! Sure, sure. Looks like my little sister became a coward while I wasn't looking. Don't worry.”

Answering playfully, Cheon Jiwon patted her shoulder and started walking away.

Shuddering in disgust, Cheon Jisoo brushed off the shoulder he had touched as though it were contaminated and followed after him.

“Tell Mom I'll visit tomorrow.”

“What? She's been waiting. Go home now.”

“No thanks. I just got out. Why would I go straight home? I'm going to have a drink first.”

Climbing into the car, Cheon Jiwon slammed the door shut and lowered the window slightly.

“I'm leaving. Don't follow me.”

Waving casually, he started the engine and drove off.

Soon the car disappeared into the distance, leaving only a trail of dust behind.

Left alone, Cheon Jisoo watched him go and cursed.

“That bastard never changes, no matter how much prison food he eats.”

Clicking her tongue, she got into her own car.

“Let's go straight home.”

“Yes, President.”

The vehicle carrying Cheon Jisoo departed from Uijeongbu Prison.

Meanwhile, Cheon Jiwon, who had left first, lit one of the cigarettes prepared inside the car.

“I'm definitely sending that bastard to prison.”

His friends had attempted stock manipulation.

Kim Muhyuk had interfered, causing them catastrophic losses.

On top of that, they had received prison sentences for stock manipulation.

During his incarceration, Cheon Jiwon had nurtured nothing but vengeance.

“How dare he look down on me?”

Grinding his teeth, he slammed his foot onto the accelerator.

The car surged forward.

The speedometer quickly passed 100 kilometers per hour, but he only pressed harder.

“Just wait, you son of a bitch!”

As though reflecting his thoughts, the vehicle raced even faster.

* * *

Federal Reserve Chairman Ben Bernanke was meeting with a visitor.

“So you're saying that if things continue like this, you'll go bankrupt?”

“Yes, Chairman. The situation is dangerous.”

“Ha! What kind of nonsense is this...”

The man answering calmly was Jimmy Cayne, Chairman of Bear Stearns.

Cayne had come seeking help, yet there wasn't a trace of urgency in his demeanor.

That attitude made anger rise inside Ben °• N 𝑜 v 𝑒 l i g h t •° Bernanke.

“Last time you said everything was under control. And now what? You're facing bankruptcy?”

“...At the time, it was still manageable internally. But now we're no longer capable of handling it ourselves.”

Bernanke let out a small sigh at the calm response.

“What about solutions? Do you have any solutions?”

“We'll announce internal measures first, but we'll need a government bailout.”

“Explain it clearly. Just how bad is it?”

“If housing prices continue to fall, losses exceeding three hundred billion dollars are expected.”

“What? Three hundred billion? Did you just say three hundred billion dollars?”

Bernanke was stunned.

Even considering the size of Bear Stearns, the figure was absurd.

“How does a company even lose that much money? Even the government would struggle to clean up a disaster like that!”

Bernanke raised his voice.

Jimmy Cayne merely shrugged.

“Then we'll file for bankruptcy.”

“Mr. Cayne, can you even hear yourself?”

“What else am I supposed to do? Pray for housing prices to rise again? Isn't this all your fault anyway?”

Rather than showing remorse, Cayne turned around and blamed Bernanke's policies.

“This happened because you raised interest rates too aggressively.”

“I had no choice. If we hadn't pulled money back out of the market, inflation would've spiraled.”

“Perhaps none of this would've happened if you'd given us more time to prepare.”

“Listen here—”

“I came to see you before approaching the government because we've known each other a long time. Consider this a warning.”

The Federal Reserve couldn't directly rescue Bear Stearns.

Its role was to formulate monetary and economic policy, not save failing financial institutions.

“Advise the government to provide bailout funds. That's the only way both Bear Stearns and you survive.”

Apparently finished, Cayne stood up.

“One more thing. Bear Stearns won't be the end of this. We'll merely be the beginning. Think carefully. I need to lobby the government now, so I'll be leaving.”

Bernanke could only stare up at him silently.

“Goodbye.”

Jimmy Cayne left the Chairman's office.

Left alone, Bernanke sat there for a long time without saying anything.

Then suddenly he remembered something Kim Muhyuk had once said during their meeting.

“That's right. He told me I needed to prepare. Yes... that's what he said.”

At the time, he had dismissed it as nonsense from some businessman.

Only now did he regret not taking the conversation seriously.

“No. This isn't the time.”

Snapping back to reality, Bernanke quickly grabbed the phone.

If Cayne had already begun moving, the media would soon discover everything.

Before that happened, he needed to reduce the shock that would hit the market.

Starting with that first call, Ben Bernanke spent the entire day glued to the telephone.

* * *

An article appeared in The Wall Street Journal.

[Bear Stearns Faces Escalating Liquidity Crisis, Increasing Market Anxiety]

The liquidity crisis facing Bear Stearns is sending a new warning signal through financial markets.

Experts view the crisis as the result of a weakening housing market combined with growing financial market volatility, and many believe it may be a precursor to even larger problems.

Bear Stearns has long played a major role in both American and global financial markets. However, deteriorating housing conditions and declining financial asset values have severely weakened the firm's liquidity position.

As a result, Bear Stearns' stock price has plummeted, and concerns are spreading among investors that the company may be unable to secure sufficient cash reserves.

During an emergency press conference, Bear Stearns' CEO stated that the company was “taking every possible measure to overcome the current liquidity crisis,” but declined to provide specific details regarding solutions or potential partnerships.

This uncertainty has only intensified market anxiety.

Financial experts warn that the crisis extends beyond a single company and may undermine confidence throughout the financial system.

Particularly concerning is the possibility that the liquidity crisis could spread to other financial institutions, increasing overall market instability.

Investors and analysts are closely watching the impact Bear Stearns' situation may have on the broader financial sector.

How the crisis will ultimately be resolved—and what long-term consequences those solutions may bring—remains uncertain.

The Bear Stearns crisis serves as another reminder that financial institutions must place greater emphasis on risk management and liquidity control.

Regulators must also recognize the importance of stronger oversight and stricter regulations to prepare for similar liquidity crises in the future.

Not only The Wall Street Journal, but every major American media outlet began publishing articles regarding Bear Stearns' liquidity problems.

[Bear Stearns Faces Liquidity Crisis, A New Warning Sign for Financial Markets]

[Bear Stearns Engulfed in Unprecedented Liquidity Crisis]

I set down the newspapers and slowly smiled.

“The atmosphere is finally ripening.”

Rumors regarding Bear Stearns' liquidity problems had begun spreading across Wall Street.

Its stock price collapsed.

A company with a market capitalization exceeding twenty billion dollars had lost half its value in a single month.

That alone showed how serious the crisis had become.

On Wall Street, where information traveled faster than anywhere else, nobody viewed Bear Stearns' problems as a harmless breeze.

I immediately called Han Kyungyeong.

“Hello, Muhyuk.”

“Busy because of Bear Stearns?”

“Don't even ask. Calls are coming from everywhere, meetings nonstop... I'm dying. Even two bodies wouldn't be enough.”

“Hang in there a little longer. What's the atmosphere on Wall Street?”

“Everyone's just waiting to see when the government steps in to save them.”

Wall Street still hadn't come to its senses.

They all assumed the government would rescue Bear Stearns.

“The U.S. government will intervene. But—”

Just as I was about to continue, the door opened and Chief Ma entered.

“Boss. The report on Ben Bernanke has arrived.”

“Hyung, hold on a second.”

I accepted the thick stack of documents Chief Ma handed me.

“There's more than I expected.”

“Yes. They said it took a while to gather everything—his activities over the last ten years, recent movements, people close to him, people who dislike him. Basically everything.”

“Good. I'll read it. Oh, and send Eva in.”

“Understood, Boss.”

After Chief Ma left, I returned to the phone.

“Sorry. Bernanke's file just arrived.”

“Ben Bernanke? Ah, right. I heard Bernanke and Jimmy Cayne met secretly.”

“The two of them? But if it was secret, how do you know?”

Han Kyungyeong answered smoothly.

“Since when are there secrets on Wall Street? Give it a few days and everybody knows.”

I laughed softly.

He wasn't wrong.

There were no permanent secrets on Wall Street.

“Anyway, because of that meeting, everyone's expecting a government bailout.”

“No. The government will intervene, but they'll pressure another Wall Street bank or investment firm to acquire Bear Stearns. They'll probably reduce some of the liabilities too.”

“What? Who would take on Bear Stearns in this situation? That's basically agreeing to die together.”

In the original timeline, JPMorgan Chase had acquired Bear Stearns.

Was it two hundred million dollars?

Three hundred million?

I couldn't remember the exact amount, but it was somewhere around there.

An unbelievable figure for a company valued at over twenty billion dollars only a year earlier.

“The government will pressure Wall Street.”

“Even so...”

“I guarantee they'll contact you too. Want to make a bet?”

“Why would I bet against you? You'd obviously win.”

“When they call, meet with them. Pretend you're interested in acquiring Bear Stearns and drag things out.”

Han Kyungyeong paused thoughtfully before asking,

“Hm. You don't actually intend to acquire it, right?”

“No. Bear Stearns is still a good company. If it could survive this crisis, it'd be one of the best investment banks you could own.”

“Then why not buy it?”

“Because Bear Stearns' collapse has to become the trigger. Even JPMorgan Chase will only signal interest after the bankruptcy. So drag things out. Give them hope they can still be saved.”

Han Kyungyeong clicked his tongue.

“You scary bastard. Alright, I get it. I'll handle it that way. I've got another meeting. Talk later.”

He hurriedly ended the call.

Setting down the phone, I muttered to myself,

“This is the price of ignoring my warning.”

I had clearly warned Ben Bernanke.

He was the one who chose to ignore it.