"And someone, someone, find me that shit hole worm Sidneys. I want him in my office in 30 seconds. Now," he violently thrust his arms in the air, "get the hell out of here until you have some good news."
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Friday, December 4
RUN ON FIRST STATE AS IT STALLS ON OWN BAILOUT by Scott Mason
Since yesterday afternoon, First State Savings and Loan has been in asset-salvation mode. Upon reports that computer hackers have had access to First State's computers and records for some time, and can change their contents at will, the stock market reacted negatively by a sell-off. In the first 15 minutes of trading, First State's stock plummeted from 48 1/2 to 26 1/4, a reduction of one half its value. Subsequently, the stock moved up with block buying. At the noon bell, the stock had risen modestly to 31. It is assumed that First State itself is repurchasing their own stock in an attempt to bolster market confidence.
However, at 2:00PM, First State contacted banking officials in New York and Washington, as well as the SEC, to announce that a rush of worried depositors had drained the bank of it's available hard currency reserves, and would close until the following morning when cash transfers would permit the bank to continue payments.
Last quarter cash holding were reported in excess of $3 Billion, and First State has acknowledged that any and all monies would be available to those who desired it. In a press release issued by First State at 1:00 PM they said, "A minor compromise of our computers has caused no discernible damage to the computers, our customers or the bank. A thorough investigation has determined that the hacker was either a figment of the imagination of a local paper or was based upon unfounded hearsay. The bank's attorneys are reviewing their options."
The combination of the two announcements only further depressed First State stock. It stood at 18 7/8 when the SEC blocked further trading.
This is Scott Mason, who reported the news as he saw it. Accu- rately.
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