It is the end of the Second World War, the deadliest conflict in history, but it also marked the rise of America as the most powerful country in the world.
第二次世界大戰結束，這是歷史上最致命的衝突，但也標誌著美國成為世界上最強大的國家。
00:17
The dollar is now the world's reserve currency, and one American bank has climbed to the pinnacle of the banking world, becoming the largest private bank in the world.
美元現在是世界的儲備貨幣，而一家美國銀行已登上銀行業的頂峰，成為世界上最大的私人銀行。
00:27
Bank of America.
美國銀行。
00:29
Bank of America was the largest bank in the nation by assets and market capitalization.
美國銀行在資產和市值方面成為全國最大的銀行。
00:35
Today it serves more than 68 million customers in the US and internationally.
如今，它在美國和國際上為超過6800萬客戶提供服務。
00:40
Behind this banking empire is a financial titan of unlikely origin, the Italian immigrant, Amadeo Janini.
這個銀行帝國背後是一位出身不凡的金融巨頭，意大利移民阿瑪迪奧·賈尼尼。
00:52
It's a game for them.
對他們來說，這是一場遊戲。
00:54
When you're at that level, it has all just become a game.
當你達到那個層次時，一切都變成了一場遊戲。
00:56
It's a game of confidence, a game of loans.
這是一場信心的遊戲，一場貸款的遊戲。
01:32
Janini's childhood is anything but normal.
賈尼尼的童年絕不平凡。
01:35
His father, Luigi, arrived in California during the Gold Rush and soon built a successful real estate business.
他的父親路易吉在加州淘金熱期間抵達加州，並很快建立了一個成功的房地產業務。
01:41
The family thrived by buying properties and hotels, renting them out to other Italian immigrants.
這個家庭通過購買房產和酒店，並將其出租給其他意大利移民而興旺起來。
01:48
His father was a hard-working entrepreneur who made his first fortune in fishing, farming, and vineyard culture.
他的父親是一位勤奮的企業家，通過漁業、農業和葡萄園種植賺取了他的第一桶金。
01:56
His father, Luigi, invested all his savings in renting and renovating a house, which he turned into the Swiss hotel, which catered to Italian day laborers.
他的父親路易吉將所有積蓄投資於租賃和翻新一所房子，並將其改造成瑞士酒店，專門接待意大利日工。
02:03
After two years as the owner of the hotel, Luigi successfully sold it and with the proceeds, bought 40 acres of land in the small town, of Alviso.
作為酒店老闆的兩年後，路易吉成功地將其出售，並用收益在小鎮阿爾維索購買了40英畝的土地。
02:13
But Janini's peaceful childhood was abruptly shattered by a life-altering incident.
但賈尼尼平靜的童年被一個改變人生的事件突然打破。
02:27
Janini was seven when his father was shot dead during a labor dispute.
賈尼尼七歲時，他的父親在一場勞工糾紛中被槍殺。
02:35
The tragic death of his father forced young Amadeo to mature quickly and take on new family responsibilities.
父親的悲慘死亡迫使年輕的阿瑪迪奧迅速成熟並承擔起新的家庭責任。
02:44
It's called post-formatic growth.
這被稱為創傷後的成長。
02:46
There may be things that children and young people take from it.
孩子和年輕人可能從中學到一些東西。
02:50
The greater sense of maturity, a different sense of purpose.
更成熟的感覺，不同的目標感。
03:01
At this time, Janini learned the value of hard work.
這時，Janini 學到了勤奮工作的價值。
03:05
He had to live a very disciplined lifestyle from a young age, getting up early in the morning to sell produce with his mother.
他從小就必須過著非常紀律嚴明的生活，每天一大早就和母親一起賣農產品。
03:12
But this experience allowed him to gain practical skills and knowledge about how businesses operate.
但這段經歷讓他獲得了實務技能和對企業運作的知識。
03:21
Janini's mother, Virginia, soon remarries another Italian immigrant, Lorenzo Scotena.
Janini 的母親 Virginia 不久後改嫁給另一位義大利移民 Lorenzo Scotena。
03:27
The two met while she was selling her produce and they became good friends.
兩人在她賣農產品時相遇，並成為好朋友。
03:31
He was a gentle, amiable man with a ready smile and her children seemed to love and respect him to the point of calling him pop or boss.
他是一個溫和、和藹的人，總是面帶微笑，而他的孩子們似乎很愛戴他，甚至稱他為「爸爸」或「老闆」。
03:39
Lorenzo takes over the family's farming business and Janini becomes the bookkeeper and soon his business talent shines.
Lorenzo 接管了家裡的農業生意，而 Janini 則成為會計，不久後他的商業才華便展現出來。
03:47
He was a skilled operator.
他是一位熟練的經營者。
03:49
At the age of just 14, he expertly handled the logistics of the family's grocery business.
在僅僅 14 歲時，他就精通地處理了家裡雜貨生意的物流。
03:54
For example, sourcing oranges from Southern California and bringing them to San Francisco.
例如，從南加州採購橘子並將其運到舊金山。
04:01
At just 21, he fully takes over the family business, leading it to unprecedented profits.
在 21 歲時，他完全接管了家族企業，並將其帶向前所未有的利潤。
04:07
He had a unique way of doing business and was especially interested in laying a foundation of trust and goodwill, as well as building relationships that would support his father's business over time.
他有獨特的經商方式，特別注重建立信任和善意的基礎，以及建立能夠長期支持父親生意的關係。
04:17
He was focused, determined, always on the go, either by horse, buggy, or riverboat.
他專注、堅定，總是忙個不停，無論是騎馬、馬車，還是乘坐河船。
04:22
Working more than 18 hours a day, often skipping lunch, which he deemed a waste of valuable time.
每天工作超過 18 小時，經常跳過午餐，因為他認為這是浪費寶貴的時間。
04:28
In 10 years, he transforms the family's farming venture into a successful grocery store in San Francisco, generating hundreds of thousands of dollars a year.
在 10 年內，他將家族的農業事業轉型為舊金山一家成功的雜貨店，每年創造數十萬美元的收入。
04:39
But then, at the height of his success, Janini does the unexpected.
但就在事業的巔峰時期，Janini 做出了意想不到的事情。
04:50
At 31, he retires from the grocery business, eager to find a new industry to conquer.
在 31 歲時，他從雜貨業退休，渴望找到一個新的行業來征服。
04:57
The early 20th century brings industrial growth to the Bay Area, with shipyards, manufacturing plants, and other industries emerging.
20 世紀初，灣區迎來了工業增長，造船廠、製造廠和其他行業紛紛興起。
05:07
The influx of population and businesses into San Francisco and its suburbs led to rising property values.
人口和企業湧入舊金山及其郊區，導致房地產價值上漲。
05:15
Janini recognizes that real estate and banking are at the heart of this economic boom.
Janini認識到房地產和銀行業是這場經濟繁榮的核心。
05:22
To break into these industries, he needs capital and opportunity.
為了進入這些行業，他需要資本和機會。
05:27
At the time, his wife came from a wealthy family, and when his father-in-law passed away, he left his entire inheritance to Janini instead of his own sons, demonstrating the immense respect he had for Janini.
The inheritance includes real estate holdings and stocks in a local bank.
這份遺產包括房地產和當地一家銀行的股票。
05:48
But Janini quickly realizes that the bank is corrupt, much like the rest of the industry.
但Janini很快發現這家銀行腐敗，就像整個行業一樣。
05:53
To make a real difference, he needs to start his own bank.
為了真正有所作為，他需要創辦自己的銀行。
05:59
AP, being himself the son of hard-working Italian farmers, founded his own bank, mainly because he was outraged by how other banks in North Beach neglected the Italian citizens of San Francisco's Italian colony, which included his own family.
The majority of his customers were immigrants, who could hardly speak English.
他的大多數客戶都是移民，幾乎不會說英語。
06:18
By giving out loans to the working class, the Bank of Italy becomes a huge hit.
通過向工薪階層發放貸款，義大利銀行大獲成功。
06:24
By 1905, less than two years after its launch, the Bank amasses $1 million in capital.
到1905年，也就是銀行成立不到兩年後，義大利銀行積累了100萬美元的資本。
06:32
The future of the bank looks bright.
銀行的未來看起來一片光明。
06:45
The 1906 earthquake completely changed how we saw the science of earthquakes.
1906年的地震徹底改變了我們對地震科學的看法。
06:49
The earthquake woke everybody up early in the morning on April the 18th of 1906.
1906年4月18日清晨，地震將所有人都驚醒了。
06:55
The epicenter was on the San Andreas Fault, just offshore from San Francisco, and then it ruptured to the north and to the south along the fault.
震中位於聖安德烈亞斯斷層，距離舊金山海岸不遠，然後沿著斷層向北和向南破裂。
07:03
Most of the city at that time was wood frame construction, but there were some steel frame buildings.
當時城市的大部分建築都是木結構，但也有一些鋼結構建築。
07:09
And so the earthquake did a lot of damage across the city, but of course most of the damage was actually due to the fire that then followed the earthquake.
因此，地震在整個城市造成了大量破壞，但當然，大部分損失實際上是由隨後的火災造成的。
07:16
The San Francisco earthquake of 1906 is one of the most destructive in recent history, resulting in immense destruction and followed by uncontrolled fire that consumed much of the city.
Before the fire reaches his bank vault, Janini and his stepfather load the bank's funds, including cash, gold, and silver onto wagons, disguised with crates of fruit and vegetables.
They endure a grueling all-night journey to reach San Mateo, Janini's home.
他們經歷了一個艱苦的通宵旅程，才到達Janini的家——聖馬特奧。
07:48
Janini's foresight and quick action prove ingenious.
Janini的遠見和迅速行動證明是極其明智的。
07:52
While other banks are rendered inoperable, he establishes a temporary banking operation on Washington Street, using a makeshift desk to provide immediate financial support to those affected by the disaster.
當其他銀行癱瘓時，他在華盛頓街設立臨時銀行營運，用臨時桌子為災民提供即時金融支援。
08:05
Janini and his bank made an extraordinary move.
Janini和他的銀行採取了非凡的行動。
08:08
Most banks at a time were afraid to lend money, but Janini offered unsecure loans to anyone based on only personal trust.
當時大多數銀行都不敢貸款，但Janini僅憑個人信譽提供無擔保貸款給任何人。
08:18
Janini has turned a disaster into an opportunity.
Janini將災難轉化為機遇。
08:22
After the earthquake, the Bank of Italy becomes the most trustworthy bank in the region, and people begin to pour their deposits into the bank.
地震後，義大利銀行成為該地區最可信賴的銀行，人們紛紛將存款轉入該行。
08:35
During the panic of 1907, Janini's strategic foresight and decisive actions once again safeguard the bank's stability and customer confidence.
在1907年的恐慌中，Janini的戰略遠見和果斷行動再次保障了銀行的穩定和客戶信心。
08:46
Despite initial resistance, he expands into Los Angeles, bringing inclusive and accessible banking to the rapidly growing city.
盡管最初遭到抵制，他仍擴張至洛杉磯，為這個快速發展的城市帶來包容且易於使用的銀行服務。
08:56
Janini's vision soon extends beyond California, creating a network of branches that provide reliable financial services to diverse communities in cities like Chicago.
Janini的願景很快超越加州，在芝加哥等城市建立分行網絡，為不同社區提供可靠的金融服務。
09:08
But to truly build a banking empire, he knows there is one city he needs to break into, New York.
但要真正建立銀行帝國，他知道必須進軍一個城市——紐約。
09:19
But there's a huge problem.
但有一個巨大的問題。
09:21
New York is already dominated by another Titan, JP Morgan Jr., and he is not about to let an outsider intrude on his territory.
紐約已被另一位巨頭J.P. Morgan Jr.主導，他不會讓外來者侵入他的地盤。
09:37
After his success with the Bank of Italy, Janini realizes that branch banking is the future.
在義大利銀行取得成功後，Janini意識到分行銀行是未來趨勢。
09:43
He envisions branches of his bank spread from coast to coast, and ultimately globally.
他設想自己的銀行分行遍佈全美，甚至全球。
09:48
To do that, he needs to open a branch in the most prestigious city in the world.
為此，他需要在世界上最負盛名的城市開設分行。
09:54
New York.
紐約。
09:55
Following a record year of profit, Janini uses the additional income to acquire Bank of America at 44 Wall Street, a struggling mid-sized bank at the time.
He then merged the Bank of Italy with Bowery and East River National Bank and the Commercial Exchange Bank to form the Bank of America National Association, making it the third largest bank in New York.
然後，他將義大利銀行與Bowery和East River National Bank以及Commercial Exchange Bank合併，組建美國銀行國家協會，使其成為紐約第三大銀行。
10:20
But Janini's rapid advancement into New York is seen as a declaration of war to the King of Wall Street at the time, Jack Morgan.
但Janini在紐約的快速擴張被當時的華爾街之王Jack Morgan視為宣戰。
10:29
In the 1920s, Jack Morgan is the most powerful banker on Wall Street.
在1920年代，Jack Morgan是華爾街最強大的銀行家。
10:37
His father, the notoriously ruthless J. Pierpont Morgan, helped create the world's first billion-dollar company, U.S. Steel.
After JP Morgan passed away, Junior inherits a fortune like no other.
JP摩根去世後，小摩根繼承了無與倫比的巨額財富。
11:00
Morgan has the money, power, and enemies. He once survived an assassination attempt by wrestling the government to the ground.
摩根擁有金錢、權力，也樹敵不少。他曾經在與政府的角力中幸存一場暗殺企圖。
11:08
Seeing the rise of Janini and his Bank of Italy, Jack Morgan realizes it's time to show who is in charge.
眼見吉亞尼尼及其義大利銀行的崛起，傑克·摩根意識到是時候展現誰才是真正的掌權者。
11:22
After Janini establishes his presence in New York, JP Morgan launches a smear campaign with a single objective to crush Janini's bank stocks.
在吉亞尼尼於紐約站穩腳跟後，JP摩根發起了一場抹黑運動，唯一目標就是擊垮吉亞尼尼銀行的股票。
11:33
At the time, Janini contracted Holy New Writers and had to seek treatment in Europe.
當時，吉亞尼尼患上了聖約翰病，不得不前往歐洲治療。
11:39
And Jack Morgan used this opportunity to rally other bankers and traders to attack the stocks of Janini's banks.
傑克·摩根利用這個機會，聯合其他銀行家和交易員，大舉攻擊吉亞尼尼銀行的股票。
11:48
Within weeks, the shares plummet. Janini knows Morgan is behind the effort to discredit his banks, but he has not one to back down from a fight.
幾週內，股價暴跌。吉亞尼尼知道摩根是幕後黑手，但他絕不是會輕易退縮的人。
11:58
He funds a new company called Trans-America Corporation, a move designed to consolidate his banking empire and allow for further expansion.
他資助了一家名為環美公司的新企業，此舉旨在整合他的銀行帝國，並進一步擴張。
12:07
Through actions like these, Janini demonstrated that he was serious about staking his claim in New York and gradually the market stabilized.
通過這些行動，吉亞尼尼展現了他在紐約立足的決心，市場也逐漸穩定下來。
12:17
Jack Morgan's attack ultimately proves unsuccessful as Janini firmly establishes his banking presence in New York.
傑克·摩根的攻勢最終未能得逞，吉亞尼尼在紐約牢固建立了他的銀行業務。
12:26
But what neither Janini nor Morgan realizes is that an unprecedented crisis is about to bring both of them to their breaking points.
但吉亞尼尼和摩根都沒有意識到，一場前所未有的危機即將將他們推向崩潰的邊緣。
12:40
Prosperity is just around the corner, say the hopeful headlines, but around the corners wind the lengthening bread lines, and a whole new class of citizens appears in American society, the new poor.
Black Tuesday devastates the banking industry. Stock values plummet, leading to massive bank withdrawals and widespread bank failures.
黑色星期二重創了銀行業。股票價值暴跌，導致大量提款和銀行倒閉潮。
13:03
Many banks, having invested heavily in the stock market, face insolvency.
許多銀行因為在股市中投入過多，面臨破產。
13:09
The crash erodes public confidence in financial institutions, triggering a wave of bank runs.
崩盤侵蝕了公眾對金融機構的信心，引發了一波挤兌潮。
13:16
Janini's Trans-America stock also plummets, causing significant financial losses for its shareholders.
吉亞尼尼的環美公司股票也暴跌，導致股東遭受重大財務損失。
13:21
In the attempt to defend the value of Trans-America stock, Janini supported the market by buying all of the 230,000 shares of Trans-America that had been dumped on the San Francisco stock exchange.
It was a hasty and rather reckless action, which unfortunately did not serve its purpose.
這是一個倉促而魯莽的行動，不幸的是，並未達到預期效果。
13:39
As a result of the stock market fluctuations, severe internal discord arises within the Trans-America boardroom.
由於股市波動，環美公司董事會內部出現嚴重分歧。
13:47
While Janini struggles to maintain control of Trans-America, his biggest adversary is poised to exploit the situation.
當賈尼尼努力維持對跨美公司的控制權時，他的最大對手正準備利用這一局勢。
13:57
Sensing weakness, Jack Morgan leads another stock raid on Trans-America, causing the share price to fluctuate severely.
感覺到弱點，傑克·摩根再次對跨美公司發動股票襲擊，導致股價劇烈波動。
14:04
And just like his father, JP Morgan Jr. hated competition, he has such a strong presence on Wall Street.
就像他的父親一樣，小約翰·皮爾龐特·摩根討厭競爭，他在華爾街有著強大的影響力。
14:13
Through his words alone, he could move the market in both directions.
光憑他的一言一語，就能左右市場的走向。
14:17
And if he says Trans-America is a bad company, the market will sell all of his stocks, and he instructed his people to buy them cheaply and force themselves to be on the board as well.
The CEO of Trans-America at the time is Elisha Walker, a former associate of Morgan.
當時跨美公司的首席執行官是埃利沙·沃克，他是摩根的前同事。
14:37
Soon, a larger conspiracy unfolds. The company executives and the board of directors of Trans-America begin plotting in secret to oust Janini as the chairman.
不久，一個更大的陰謀浮出水面。跨美公司的高管和董事會開始秘密策劃，要將賈尼尼趕下主席的位置。
14:48
Having no options left, Janini submits his resignation from Trans-America, the very company he founded.
在無計可施的情況下，賈尼尼從他親手創立的跨美公司辭職。
14:56
Along with his resignation, the majority of the California directors are replaced with New York ones, and outcome Jack Morgan has long desired.
隨著他的辭職，大多數加州董事被紐約董事取代，這正是傑克·摩根長期以來夢寐以求的結果。
15:08
Morgan may have gotten the better of Amadeo Janini, but he underestimates Janini's determination, and now he vows for revenge.
摩根可能在與阿馬迪奧·賈尼尼的較量中佔了上風，但他低估了賈尼尼的決心，而賈尼尼現在發誓要報仇。
15:22
Trans-America is a banking-holding company Janini founded to take on the established banks in New York.
跨美公司是賈尼尼創立的銀行控股公司，目的是與紐約的既有銀行競爭。
15:28
But after a series of orchestrated attacks involving Jack Morgan, Janini is forced to resign from the board in September 1931.
但在經歷了傑克·摩根一系列策劃的攻擊後，賈尼尼被迫於1931年9月辭去董事會職務。
15:37
It is a stunning setback for the banking titan.
這對這位銀行巨頭來說是一個驚人的挫折。
15:40
Sometimes in life and business, you can do everything right, and things will still go wrong.
有時在生活和商業中，你可能一切都做得很對，但事情仍然會出錯。
15:46
The key is to never stop doing what's right.
關鍵在於永遠不要停止做正確的事。
15:50
Despite his resignation, Janini remains a large shareholder of the company.
盡管辭職，賈尼尼仍然是公司的大股東。
15:55
He soon realizes he can turn his loss into victory.
他很快意識到，他可以將失敗轉化為勝利。
15:59
He immediately forms associated Trans-America stockholders and begins rallying stockholders to turn against the current board and management team.
他立即組織了跨美公司的股東聯盟，並開始號召股東反對現任董事會和管理團隊。
16:07
At this time, Janini, as a banker from the West Coast, had a much better reputation than the ruthless Wall Street type.
當時，作為來自西海岸的銀行家，賈尼尼的聲譽遠比無情的華爾街型銀行家要好。
16:16
He realized that the majority of the shareholders would side with him simply because of his character.
他意識到，大多數股東會因為他的品格而站在他這邊。
16:24
With enough support, he begins a proxy fight during the shareholder meeting.
在獲得足夠支持後，他在股東大會上發起代理權爭奪戰。
16:29
If he wins, he will change the banking world, especially on the East Coast forever.
如果他獲勝，他將永遠改變銀行業，特別是東海岸的銀行業。
16:39
Sweeping changes were announced yesterday in the official staff of the Bank America Blair Corporation, the Securities Distributing Company controlled by Trans-America Corporation.
昨日，美國銀行布萊爾公司（Bank America Blair Corporation）的官方員工名單宣布了重大變動，該公司由跨美洲公司（Trans-America Corporation）控制。
16:49
They include the withdrawal from the organization of nine former officers.
這些變動包括九名前高管退出該組織。
16:54
And it turns out, the majority of the shareholders support Janini.
結果顯示，大多數股東支持詹尼尼。
16:59
He is reinstated as chairman of Trans-America and is holding Bank of America.
他重新擔任跨美洲公司董事長，並持有美國銀行。
17:04
The old board, mostly Morgan loyalists, is fired.
舊董事會，主要由摩根的忠實支持者組成，被解僱。
17:09
There are only a few moments of history as epic as this.
歷史上只有少數時刻像這樣具有史詩般的意義。
17:13
Here's this guy, started for nothing in the West Coast, and came to New York and toppled the King of Wall Street.
這個人，從西海岸一無所有起家，來到紐約，推翻了華爾街之王。
17:21
And he did that without being a ruthless rubber baron.
而他做到這一切，並沒有成為一個冷酷無情的橡膠大亨。
17:24
When Janini arrived in Los Angeles at Union Station, he was welcomed as a hero.
當詹尼尼抵達洛杉磯聯合車站時，他受到英雄般的歡迎。
17:31
He was cheered by a thousand employees and stockholders eager to thank him and shower him with praise.
一千名員工和股東熱烈歡呼，急於向他致謝並給予讚美。
17:37
His return home to San Mateo was compared by the San Francisco Chronicle to the equally victorious one of Julius Caesar returning to Rome.
他返回聖馬特奧的家，被《舊金山紀事報》比喻為尤利烏斯·凱撒勝利返回羅馬。
17:48
AP Janini managed to build Bank of America into a financial empire because of his honesty and willingness to work hard.
AP詹尼尼成功將美國銀行打造成金融帝國，靠的是他的誠實和勤奮。
17:56
Even as a young man, Amadeo enjoyed learning new things and developed a passion for numbers.
即使年輕時，阿瑪迪奧也喜歡學習新事物，並對數字產生了熱情。
18:02
A fantastic place to effectively learn to be better with numbers and data is brilliant.org.
一個能有效學習並提升數字和數據能力的絕佳平台是brilliant.org。
18:09
It is a platform where learning is active, featuring thousands of interactive lessons in math, data analysis, programming, and AI.
這是一個學習主動的平台，提供數千堂互動課程，涵蓋數學、數據分析、程式設計和人工智慧。
18:18
One common trait among successful financiers I have covered is their proficiency with numbers, with majority enjoying playing car games.
我所報導的成功金融家中，一個共同特質是他們精通數字，大多數人喜歡玩車牌遊戲。
18:27
Developing a strong intuition for statistics can provide a critical edge in finance.
培養對統計的敏銳直覺，能在金融領域提供關鍵優勢。
18:32
Brilliant's introduction to probability lays a solid foundation for mastering any number-related subjects.
Brilliant的概率入門課程，為掌握任何與數字相關的科目奠定了堅實的基礎。
18:39
While their data visualization course helps you make sense of complex data.
而他們的資料視覺化課程能幫助你理解複雜的資料。
18:44
The best part, you will find them much easier and faster to master than any traditional methods.
最棒的是，你會發現這些方法比任何傳統方法更容易、更快速上手。
18:51
Their first principles approach helps you build understanding from the ground up.
他們的第一原理方法能幫助你從基礎開始建立理解。
18:55
Each lesson is filled with hands-on problem solving that lets you interact with concepts.
每堂課都充滿實際操作的問題解決，讓你能與概念互動。
19:01
A method proven to be six times more effective than watching lecture videos.
這種方法被證明比觀看講座影片有效六倍。
19:07
To try everything Brilliant has to offer for free for a full 30 days, visit brilliant.org slash finius.
Or click the link in the description. You also get a 20% off an annual premium subscription.
或點擊描述中的連結。你還能享有年費高級訂閱的 20% 折扣。
19:22
In 1932, AP Genini returns to his desk at 1 Powell Street, revitalizing the Bank of America amid financial turmoil.
1932 年，AP Genini 回到 1 Powell Street 的辦公桌，在金融動盪中重振美國銀行。
19:33
Genini's Back to Good Times campaign restores public confidence, increasing deposits by $50 million.
Genini 的「回到美好時光」活動重建了公眾信心，使存款增加了 5,000 萬美元。
19:41
Despite regulatory challenges and powerful adversaries, Genini's leadership ensures the bank's survival and growth.
盡管面臨監管挑戰和強大的對手，Genini 的領導確保了銀行的生存和成長。
19:49
By the end of the 1930s, Bank of America becomes one of the most prosperous banks in America.
到 1930 年代末，美國銀行成為美國最繁榮的銀行之一。
19:56
But as the world plunges into war, Bank of America decides to set aside its rivalry and joins forces with fellow bankers, including Jack Morgan.
但當世界陷入戰爭時，美國銀行決定擱置競爭，與同業銀行家聯合，包括 Jack Morgan。
20:07
Together, the banking industry provides all the financing needed to turn America into the most powerful war machine in history.
銀行業共同提供了所有融資，將美國打造成歷史上最強大的戰爭機器。
20:17
By 1945, Bank of America becomes the largest commercial bank in the world.
到 1945 年，美國銀行成為世界上最大的商業銀行。
20:23
Genini was truly the ideal banker.
Genini 真正是理想的銀行家。
20:26
Remember, the banking industry is all about confidence, and Genini's key to success was his ability to inspire confidence in people.
記住，銀行業全靠信心，而 Genini 成功的關鍵在於他能激發人們的信心。
20:36
Seeing his vision accomplished, Genini finally retires and donates half of his fortune to education and research.
看到自己的願景實現，Genini 終於退休，並捐出半數財產用於教育和研究。
20:47
In the spring of 1949, Amadeo Genini dies in his sleep from heart failure.
1949 年春，Amadeo Genini 在睡夢中因心臟衰竭去世。
20:54
Amadeo Peter Genini, an immigrant son who founded a financial empire, including the world's largest bank, died at his home, Seven Oaks, in nearby San Mateo today. His age was 79.
Amadeo Peter Genini，這位移民之子，創立了金融帝國，包括世界最大的銀行，今日在附近的 San Mateo 的 Seven Oaks 宅邸去世。享年 79 歲。
21:06
Genini's influence permeates every corner of American society, especially in California.
Genini 的影響力滲透到美國社會的每個角落，尤其是在加州。
21:13
Genini's funeral took place on June 6, 1949, at St. Mary's Cathedral in San Francisco.
吉尼尼的葬禮於1949年6月6日在舊金山的聖瑪麗大教堂舉行。
21:19
More than 2,500 people filled the cathedral. Thousands more lined the streets outside to witness the funeral procession.
超過2,500人擠滿了大教堂，數千人在外面的街道上排隊目送葬禮隊伍。
21:26
He was buried in a private burial service not far from his home, at the Holy Cross Cemetery in Colma.
他被安葬在離家不遠的科爾馬聖十字墓園，舉行了私人葬禮。
21:32
In keeping with AP's wishes, all Bank of America branches around the world remained open all day, serving people.
根據吉尼尼的遺願，全球所有美國銀行分行整天營業，為民眾服務。
21:40
And Genini truly built a bank for the common people and is stood by that ideal until the very end.
吉尼尼真正為普通民眾建立了一家銀行，並堅持這一理念直到最後。
21:47
Despite creating the largest private bank in the world, with over $6 billion in assets and 517 branches at the time, Genini lived modestly and did not accumulate significant personal wealth.
At the time of his death, AP Genini's personal estate was only valued at $489,278.
吉尼尼去世時，他的個人遺產僅估值489,278美元。
22:17
In the late 1950s and early 1960s, the U.S. economy experiences robust growth and stability.
在1950年代末和1960年代初，美國經濟經歷了強勁的增長和穩定。
22:24
Post World War II prosperity continues. Consumer demand is high while unemployment is low.
二戰後的繁榮持續，消費需求高漲，失業率低。
22:31
The early 1960s, in fact the 1960s itself, is an era of incredible economic boom, far more so than the 50s and the 70s.
1960年代初，甚至整個1960年代，是一個令人難以置信的經濟繁榮時期，遠超過50年代和70年代。
22:40
And particularly for the generation that goes to school, beginning in the early 1960s, nobody ever worried about getting a job.
尤其是對於從1960年代初開始上學的那一代人，沒有人擔心過找不到工作。
22:49
There were shortages everywhere of skilled labor and particularly intellectual labor. The universities were booming.
各地都缺乏熟練勞動力，尤其是知識型勞動力。大學蓬勃發展。
22:56
California's economy booms, becoming a powerhouse driven by diverse sectors, as the biggest bank in America, and after the passing of Genini, the Bank of America needs new leadership to capitalize on this economic boom.
The new CEO at the helm of Bank of America is S. Clark Buys, and he knows he must do what it takes to focus on growth of the company.
美國銀行的新任CEO是S. Clark Buys，他知道必須全力以赴，專注於公司的成長。
23:19
Clark Buys was shy, but he was a banker's banker. He knew the banking business from A to Z.
Clark Buys性格內向，但他是一位銀行家中的銀行家。他對銀行業務了如指掌。
23:25
He ran the bank by delegating, made very good appointments, had the respect of everybody, and Clark got growth going again.
他通過授權管理銀行，任命了許多優秀的人才，贏得了所有人的尊重，而Clark讓銀行重新開始成長。
23:31
In 1959, Bank of America launches Bank of America Card, bringing credit cards to 2 million Californian families.
1959年，美國銀行推出了Bank of America Card，為200萬加州家庭帶來了信用卡。
23:41
This innovation sets the stage for modern credit, revolutionizing consumer spending, and financial services.
這一創新為現代信用奠定了基礎，徹底改變了消費者支出和金融服務。
23:48
This was groundbreaking at a time. Bank of America give ordinary customers easy access to credit, allowing them to buy goods and services with them, enable cash-free purchase and boosted consumer spending, and stimulated the economic growth.
California's economy booms, and Bank of America's deposits grow exponentially, reaching over $12 billion in assets by 1961.
加州經濟蓬勃發展，美國銀行的存款指數級增長，到1961年資產超過120億美元。
24:15
The bank's strategic investments in burgeoning industries, like Silicon Valley's tech sector, and the boutique wineries of Napa Valley, set the stage for future success.
該銀行在新興產業的戰略投資，如矽谷的科技領域和納帕谷的精品酒莊，為未來的成功奠定了基礎。
24:27
For a company of four and an individual to succeed, a major factor is timing.
對於一家四人的公司和個人來說，成功的主要因素是時機。
24:32
The bank thrived because it capitalized on the era of economic growth, particularly in California.
該銀行之所以蓬勃發展，是因為它抓住了經濟增長的時代，特別是在加州。
24:39
But good times don't last forever, and the wheels of the economic cycle are poised to shift.
但好時光不會永遠持續，經濟週期的輪子即將轉變。
24:51
As the 1970s dawn, America is thrown into chaos.
當1970年代來臨時，美國陷入混亂。
24:56
Fire that the authorities said had been set by an arsonist, badly damaged the Bank of America branch, near the University of California's campus early today.
當局表示由縱火犯引起的火災，嚴重損壞了位於加州大學校園附近的美國銀行分行。
25:04
This event was part of a larger wave of anti-establishment sentiment, fueled by the Vietnam War and economic disillusionment.
這一事件是更大規模反建制情緒的一部分，由越南戰爭和經濟幻滅感所推動。
25:14
As the new leader of Bank of America, Tom Clausen, faces immense pressure.
作為美國銀行的新領導者，湯姆·克勞森面臨巨大壓力。
25:20
At the time, Bank of America had become a giant bureaucratic organization, a very common phenomenon once a company grows to a certain size.
當時，美國銀行已成為一個龐大的官僚組織，這是公司發展到一定規模後非常常見的現象。
25:28
As the bank becomes increasingly complacent, competitors see an opening to leapfrog.
隨著銀行變得越來越自滿，競爭對手看到一個超越的機會。
25:35
They develop new technologies that potentially disrupt Bank of America's entire business model.
他們開發新技術，可能顛覆美國銀行的整個商業模式。
25:41
And the biggest threat comes from a much older bank, Citibank.
而最大的威脅來自一家更古老的銀行，花旗銀行。
25:49
In the early 1970s, Citibank is one of the oldest banks in the history of America, and it was once also the largest bank in the country.
在1970年代初，花旗銀行是美國歷史上最古老的銀行之一，曾經也是該國最大的銀行。
25:59
After facing near bankruptcy several times in the past decades, and requiring government bailouts, the bank has finally stabilized.
在過去幾十年多次面臨破產，並需要政府紓困後，該銀行終於穩定下來。
26:08
But it will take a visionary leader to regain its past glory.
但需要一位有遠見的領導者才能重振其過去的榮光。
26:14
Walter Riston grew up in a prestigious background.
沃爾特·里斯頓在顯赫的背景中成長。
26:17
From an early age, Riston is a risk-taker, because his family and network will always be his safety net.
從小，里斯頓就是一個冒險者，因為他的家庭和人脈網絡總是他的安全網。
26:24
He is not afraid of fail, and we see that with a lot of great entrepreneurs.
他不怕失敗，我們在許多偉大的企業家身上也看到這一點。
26:28
And for some of them, it's because they come from privileged background, people like Bill Gates and Mark Zuckerberg.
對於他們中的一些人來說，這是因為他們來自特權背景，比如比爾·蓋茨和馬克·祖克伯。
26:36
After becoming the president of Citibank in the late 1960s, Walter Riston knows that to take the bank to the next level, he must look for the next big thing.
Though Chemical Bank rolls out the first ATM in the United States in 1969, Riston immediately sees its potential.
雖然化學銀行在1969年於美國推出第一台自動櫃員機，但里斯頓立即看到了其潛力。
26:55
The launch of automatic teller machines becomes a massive success.
自動櫃員機的推出成為巨大的成功。
26:59
They just look like more cash machines built into bank walls, but to Citibank they are a $50 million gamble that the consumer can be wooed and won with electronic services.
Over the next year, a pair of electronic tellers will be built into the vestibules of most of Citibank's 270 metropolitan area branches, creating the largest electronic funds transfer system in the nation.
Realizing the competitive disadvantage of not having ATMs, Bank of America eventually implements them.
意識到沒有自動櫃員機的競爭劣勢，美國銀行最終實施了自動櫃員機。
27:32
While ATMs eventually reduce operating costs and enhance customer service, for Bank of America, it is already too late.
雖然自動櫃員機最終降低了營運成本並提升了客戶服務，但對於美國銀行來說，已經為時過晚。
27:40
Citibank surpasses Bank of America as the top commercial bank in the United States.
花旗銀行超越美國銀行，成為美國頂級的商業銀行。
27:47
The situation facing Bank of America is challenging, but Tom Clausen has one more trick up his sleeve.
美國銀行面臨的局勢具有挑戰性，但湯姆·克勞森還有一個最後的策略。
27:54
In his final year, Clausen took steps to present the bank's earnings more favorably.
在他的最後一年，克勞森採取了措施，使銀行的收益看起來更加樂觀。
28:00
This involved legal but aggressive accounting measures such as marking long-held assets up to market value to show higher earnings for 1980.
這涉及合法但激進的會計措施，例如將長期持有的資產調整至市場價值，以顯示1980年的更高收益。
28:10
This allows Clausen to boast about the bank's performance, enabling him to retire gracefully while handing the hidden troubles to the next leader of the bank.
這使克勞森能夠吹嘘銀行的業績，使他能夠體面地退休，同時將隱藏的問題留給銀行的下一任領導者。
28:26
After Clausen's retirement, Bank of America elects Sam Armacost as the new president.
在克勞森退休後，美國銀行選舉薩姆·阿馬科斯特為新任總裁。
28:32
Armacost grew up in a prestigious family. His father was the president of University of Redlands in Southern California.
阿馬科斯特在一個顯赫的家庭中長大。他的父親是南加州雷德蘭茲大學的校長。
28:41
After graduating from Stanford and with his family connections, his career accelerates, quickly propelling him to top positions at Bank of America.
從斯坦福大學畢業後，憑藉他的家庭關係，他的職業生涯加速發展，迅速將他推向美國銀行的高層職位。
28:52
Armacost knows his predecessor has left him a mess. To foster growth, the bank must embrace change.
阿馬科斯特知道他的前任留給他一個爛攤子。為了促進增長，銀行必須擁抱變革。
29:00
And he knows, instead of building a new business, it is easier just to acquire a successful one.
他知道，與其建立一個新業務，不如直接收購一個成功的業務來得容易。
29:07
For B of A, acquisition of Schwab would be the most forward-looking move the bank had made since it pioneered computerized check handling in the 1950s.
對於美國銀行來說，收購施瓦布將是自1950年代開創電腦化支票處理以來，銀行所做的最具前瞻性的舉措。
29:21
Inspired by Walter Riston of Citibank, Armacost realizes the importance of technology.
受到花旗銀行的沃爾特·里斯頓的啟發，阿馬科斯特意識到技術的重要性。
29:27
Sam Armacost transformed Bank of America by modernizing its technology infrastructure.
薩姆·阿馬科斯特通過現代化其技術基礎設施，改造了美國銀行。
29:33
Despite the challenges, Bank of America increases its operating profits by 7.5%, demonstrating resilience in a tough economic climate.
盡管面臨挑戰，美國銀行的營運利潤仍增長了7.5%，展示了在艱難經濟環境中的韌性。
29:44
But a crisis bruise, poised to undo everything he has accomplished.
但一場危機正要毀掉他所取得的一切成就。
30:00
A federal grand jury in New York is investigating the collapse of a mortgage securities deal that has cost the Bank of America corporation $37 million according to a state regulator from Delaware.
Armac is a mortgage securities company that sells high-yield, short-term mortgage-backed securities to savings and loans, with Bank of America acting as the escrow agent and trustee.
The scheme promised risk-free returns backed by supposed insurance and meticulous escrow instructions, but it was built on fraudulent appraisals and non-existent properties, not unlike what happened in 2008.
Initially, Bank of America is estimated to lose $8 million.
初步估計，美國銀行將損失800萬美元。
30:45
But as the scheme unravels, the loss quickly balloons to $95 million.
但隨著該計劃的崩潰，損失迅速膨脹到9,500萬美元。
30:52
Worse than the monetary loss is the damage it inflicts on the bank's reputation and Armacost's leadership.
比金錢損失更嚴重的是，它對銀行的聲譽和Armacost的領導能力造成的損害。
31:00
NMEC was the bank's Pearl Harbor, a sneak attack that shocked the bank from its myth of impregnability.
NMEC是該銀行的珍珠港，一場偷襲讓銀行從其堅不可摧的神話中驚醒。
31:07
It was the beginning of a relentless barrage of hits to balance sheet, morale, and stock price that would leave the great bank crippled, and Sam Armacost's career in disarray.
During the early 1980s, Bank of America faces a series of interrelated crises.
在20世紀80年代初，美國銀行面臨一系列相互關聯的危機。
31:27
The Third World debt crisis, the Penn Square Bank failure, economic pressures from high interest rates, and internal management challenges.
第三世界債務危機、Penn Square銀行的倒閉、高利率帶來的經濟壓力以及內部管理挑戰。
31:37
These events collectively strain the bank's financial stability and damage its reputation.
這些事件共同考驗著銀行的財務穩定性，並損害了其聲譽。
31:45
While the bank is in crisis, one man sees a golden opportunity for a hostile takeover to remake Bank of America in his image.
在銀行陷入危機之際，一個人看到了一個黃金機會，可以進行敵意收購，將美國銀行改造成他心目中的樣子。
31:54
His name is Sandy Weil.
他的名字是Sandy Weil。
32:04
Sandy Weil is a ruthless corporate takeover man.
Sandy Weil是一位冷酷無情的企業收購者。
32:07
Growing up in a working-class family in Brooklyn, New York, Weil graduated from Cornell with a degree in government, but he foregoes a career in politics, for one on Wall Street.
He made his first major fortune by selling his brokerage firm to American Express for $930 million.
他通過將他的經紀公司出售給美國運通，賺取了他的第一筆巨額財富，價值9.3億美元。
32:25
His specialty was acquiring multiple companies and aggressively cutting costs and streamlining operations to create bigger and more profitable businesses.
他的專長是收購多家公司，並積極削減成本和精簡運營，以創建更大、更盈利的業務。
32:36
It didn't always work, but when it did, it made him incredibly wealthy as a result.
這並不總是奏效，但當它奏效時，它使他變得非常富有。
32:42
But after a failed power struggle at American Express, Weil is forced to leave the company.
但在美國運通的一場權力鬥爭失敗後，Weil被迫離開公司。
32:48
Undeterred, Sandy Weil looks for an opportunity for a comeback.
沙迪·威爾不氣餒，尋找東山再起的機會。
32:52
He soon realizes that Bank of America could be it.
他很快意識到，美國銀行可能是個好機會。
33:00
By the end of 1985, Bank of America finds itself in dire financial straits, with its stocks plummeting.
到1985年底，美國銀行發現自己陷入嚴重的財務困境，股票暴跌。
33:09
First Interstate, a fellow bank enjoying great performance during the 1980s, sees an opportunity for a hostile takeover.
第一州際銀行在1980年代表現優異，看到了惡意收購的機會。
33:18
A dying giant inevitably attracts predators.
一個垂死的巨頭必然會吸引掠食者。
33:22
And soon enough, a man known for his aggressive takeover tactics circles the prey.
很快，一個以激進收購戰術聞名的男人開始圍繞著獵物。
33:28
Sandy Weil secures billions from Sheerson Lehman, an investment bank, and proposes a merger where he would become CEO, vowing to turn the bank into a superpower.
Bank of America leaked the information that Sandy Weil was attempting to take over the bank, and the bank's stock immediately jumped, indicating that the market believed that Sandy Weil and his lieutenant Jamie Dimon would be better leaders for the bank.
There was an extraordinary cultural compatibility between Weil and Janini.
威爾和傑尼尼之間有著非凡的文化契合度。
34:05
Both had built giant corporations based on a family culture.
兩人都基於家族文化建立了巨型企業。
34:10
Weil's emphasis on corporate family was more than a management style.
威爾對企業家族的重視不僅僅是一種管理風格。
34:14
It answered a psychological need to be constantly reassured by the loyalty that only family will give.
這滿足了他心理上需要不斷被家族才會給予的忠誠所安撫。
34:20
He hired all his relatives.
他雇用了所有親戚。
34:23
But Sam Armacost realizes that if Sandy Weil's takeover succeeds, it will mean the end of his career.
但山姆·阿馬科斯特意識到，如果沙迪·威爾的收購成功，將意味著他的職業生涯的終結。
34:31
But Sandy Weil soon becomes the least of his concerns.
但沙迪·威爾很快成為他最不擔心的問題。
34:35
After years of poor performance, the Board of Bank of America orchestrates a coup and replaces him with an unlikely candidate, the former president of the bank, Clausen.
As Mr. Armacost's replacement, banking sources said, the Board of Directors is expected to name A.W. Clausen, the president of the World Bank until last June, and the chief of Bank America until Mr. Armacost took over five years ago.
Clausen knows that to keep the bank independent, he must fend off any takeover attempts from First Interstate and Sandy Weil.
克勞森知道，為了保持銀行的獨立性，他必須抵禦第一州際銀行和沙迪·威爾的任何收購企圖。
35:15
To do that, he only has one option left.
為此，他只剩下一個選擇。
35:18
He was considering what's called a poison pale as a defensive strategy to prevent or discourage hostile takeover attempts.
他正在考慮一種稱為“毒藥計劃”的防禦策略，以防止或阻止惡意收購企圖。
35:27
To discourage any takeover attempts, Clausen utilized a poison pill strategy by issuing new shares to existing shareholders to dilute the ownership percentage of potential acquirers, making the takeover more expensive and less appealing.
To make Bank of America less viable for takeovers, he sells many of its assets, including the famous Charles Schwab.
為了使美國銀行不易被收購，他出售了許多資產，包括著名的查爾斯·施瓦布。
35:52
The Bank America Corporation said yesterday that it was not negotiating a merger with the First Interstate Bank Corp or anyone else.
美國銀行公司昨日表示，它並未與第一州際銀行公司或任何其他機構談判合併事宜。
35:59
The statement followed a report in the New York Times yesterday that First Interstate had approached the big bank with a friendly merger proposal.
這份聲明是在《紐約時報》昨日報導第一州際銀行以友好合併提案接觸該大型銀行後發表的。
36:10
The mid to late 1980s are a transformative period for the U.S. economy and banking sector under President Ronald Reagan's administration, marked by robust economic growth, deregulation, and a focus on free market policies,
In the late 1980s, Bank of America achieves a dramatic turnaround under A.W. Clausen's leadership.
在1980年代後期，美國銀行在A.W.克勞森的領導下實現了戲劇性的轉變。
36:38
By the end of 1988, the bank returns to sustain profitability with net earnings of $726 million, the third best in its history.
到1988年底，該銀行恢復持續盈利，淨收益達7.26億美元，為歷史上第三好的成績。
36:49
The bank's stock price sores from $6 to over $19, making it the world's best-performing bank stock in 1988.
該銀行的股價從6美元飆升至超過19美元，使其成為1988年全球表現最佳的銀行股。
37:01
Approaching the new decade of the 1990s, the banking industry begins to go through yet a major shift.
進入1990年代的新十年，銀行業開始經歷另一個重大轉變。
37:08
But this time, Bank of America will be there to seize it.
但這次，美國銀行將抓住這個機會。
37:19
The 1990s was a euphoric period for the banking industry.
1990年代是銀行業的狂歡時期。
37:24
After his failed attempt to take over Bank of America, Sandy Weil, along with Jamie Diamond, scores a better deal with Citicorp, creating America's largest financial institution.
At the time, Hugh McCall Jr. is the CEO of Bank of America, and he has determined his bank will not be outdone by Sandy Weil.
當時，休·麥考爾二世是美國銀行的首席執行官，他決心不讓自己的銀行被桑迪·威爾超越。
37:47
Having decided that there is safety in big numbers, two pairs of American banks announced $90 billion worth of mergers Monday, bulking up to compete more efficiently in an international industry that increasingly emphasizes size.
As banks like Citicorp and Bank of America expanded rapidly, they became intertwined with various financial sectors, blurring the lines between commercial and investment banking.
But their unscrupulous expansion will have unforeseen consequences.
但它們不擇手段的擴張將帶來無法預見的後果。
38:31
This is going to be one of the watershed days in financial markets history.
這將成為金融市場歷史上的分水嶺之一。
38:35
It was a manic Monday in the financial markets.
這是金融市場的瘋狂星期一。
38:38
The Dow tumbled more than 500 points after two pillars of the street tumbled over the weekend.
道瓊斯指數在週末兩大金融巨頭倒閉後暴跌超過500點。
38:46
The collapse of Lehman Brothers and the ensuing market panic sent shockwaves through the banking sector.
雷曼兄弟的倒閉和隨之而來的市場恐慌，對銀行業造成了巨大的衝擊。
38:53
Despite its size and strength, Bank of America is not immune.
盡管規模龐大且實力雄厚，美國銀行也無法倖免。
38:57
The acquisition of Countrywide Financial, once seen as a strategic move, now burdens the bank with toxic mortgage assets.
當初被視為戰略舉措的收購全國金融公司，如今卻讓銀行背上了有毒的抵押資產。
39:05
While Bank of America faced significant challenges in 2008, its situation was not as dire as some of his peers.
雖然美國銀行在2008年面臨重大挑戰，但其情況並不像一些同業那麼嚴峻。
39:15
Unlike Citibank who required multiple bailouts to stay afloat, Bank of America managed to weather the storm.
不像花旗銀行需要多次救助才能生存，美國銀行設法度過了危機。
39:21
A hindsight, perhaps it was a blessing that Sandy Weil failed to take it over in the 1980s.
回顧過去，也許桑迪·威爾在1980年代未能收購它反而是一種幸運。
39:27
To help stabilize the financial sector, Bank of America is forced to acquire Merrill Lynch, saving it from the same fate as Lehman Brothers.
為了幫助穩定金融業，美國銀行被迫收購美林證券，使其免於像雷曼兄弟一樣的命運。
39:37
But ultimately, the Fed steps in with the help of a $45 billion government bailout and decisive management actions, Bank of America was able to navigate the crisis, ultimately emerging battered but intact.
Investor Warren Buffett is giving a big vote of confidence to this country's largest bank, Bank of America.
投資者沃倫·巴菲特對這個國家最大的銀行——美國銀行投下了強有力的信心票。
40:59
Buffett is investing $5 billion in B of A in exchange for a 6% dividend in stock.
巴菲特以6%的股息換取50億美元投資美國銀行。
41:06
Bank of America ran into trouble over mortgage investments.
美國銀行在抵押貸款投資上遇到了麻煩。
41:09
The move has already paid off for Buffett.
這一舉動已經為巴菲特帶來了回報。
41:11
Buffett made $350 million on paper yesterday when stock prices soared.
在股價飆升時，巴菲特昨天在帳面上賺了3.5億美元。
41:17
After Warren Buffett's vote of confidence, and under the leadership of Moynihan, Bank of America embarked on a remarkable journey of recovery and transformation.
在沃倫·巴菲特的信任投票和莫伊尼漢的領導下，美國銀行開始了顯著的復甦和轉型之旅。
41:27
The bank focuses on stabilizing its balance sheet, reducing its exposure to risky assets, and streamlining operations.
該銀行專注於穩定其資產負債表、減少對風險資產的暴露並精簡運營。
41:42
In 2024, Bank of America remains a dominant financial institution, focusing on digital transformation and sustainability, achieving robust financial performance, despite economic uncertainties.
It reports strong earnings and increases its quarterly dividend, signaling confidence in its future prospects.
該銀行報告強勁的收益並增加季度股息，顯示對未來前景的信心。
42:05
But as the bank expanded, the bank continues to struggle with the weight of its own bureaucracy.
但隨著銀行的擴張，銀行繼續與自身官僚體系的重壓作鬥爭。
42:10
It still faces ongoing consumer complaints in 2024 about fraudulent transactions, unauthorized accounts, misleading promotional practices, with held credit card rewards, excessive fees, and poor customer service.
Issues include slow response times, delays in account handling, and regulatory non-compliance, resulting in multiple fines and penalties.
問題包括響應時間慢、帳戶處理延遲和監管不合規，導致多次罰款和處罰。
42:36
When you're a big bank, it's really hard to fail because the government always seems to head her back.
當你是一家大銀行時，要倒閉真的很難，因為政府似乎總是會出手相救。
42:43
But for a bank to truly thrive in the long run, without being taken over or absorbed by competitors, it really just needs one thing.
但要使銀行真正長期繁榮，而不被競爭對手接管或收購，它真的只需要一件事。
42:53
You've got to do right by the customers. It's all about the brand of trust.
你必須對客戶做正確的事。一切都關乎信任的品牌。
43:11
Thank you.
謝謝。
Bank of America – The Cartel of U.S. Finance | Full Documentary
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📝 影片摘要
本單元探討美國銀行（Bank of America）的發展歷史，從創始人阿瑪迪奧·賈尼尼（Amadeo Giannini）的早期生活、創業過程，到美國銀行如何成為全球最大的私人銀行。內容涵蓋賈尼尼如何透過信任和創新銀行服務，在1906年舊金山地震後建立聲譽，並擴張至全美。影片亦探討美國銀行在20世紀面臨的挑戰，包括經濟大蕭條、競爭對手的威脅，以及現代化轉型。最後，影片提到美國銀行在21世紀的復甦與數位轉型，強調銀行業的核心在於客戶信任。
