by Holly Barbo
Jones opened the file and pulled out the testimony. He read it again before passing it to the chief.
“I think the nurse wrote what made sense to her. From what I understand of Mikla’s injuries, her words couldn’t have been easy to understand. Look at it and keep in mind that Mikla was a researcher trying to tell us something: Four men. Stone, instead of stones and ‘bare’ could be ‘bear’ which is another word for bruin. It would appear as circumstantial evidence in Mikla’s murder, but I will testify that these were the men who beat me, threatened anyone associated with me… and she is connected through my research department.”
“We will find these men and question them. Can you tell me what they were looking for?”
“I can’t. They never explained. They were very insistent, asking where it was.”
There was a disturbance in the outer room.
“I’ve come out of hiding as there are things I must do even though I’m still in danger. Mikla’s murder convinces me the risk is very real. I’ve told you what I know and hope that you can locate these men. Meanwhile, Dylan and Mitch…” He smiled at Kes’s boss, who had just entered the commissioner’s office. “…have further testimony for you. I must leave. Thank you, Chief.”
As M’nacht stepped out of the office, he heard Mitch say, “Kes was finishing a survey in the Okamak…”
The old man smiled. When he made his way into the outer hall, he was met by Jordan and three burly men, one of whom was in a chauffeur’s uniform. “These guys will keep you safe. Not only are they loyal to me, but your programs have helped their families. Do what you need to do. Quin is preparing a safe house for you.”
M’nacht smiled his thanks to his big friend, then shook the hands of his guard. “Let’s get to Therad First Financial.”
The annual board meeting had already begun when there was a disturbance in the hall outside of the closed doors. T’flon frowned and sent Steven out to deal with it. Not a moment or two later, the young man returned, escorting an old man in a top hat. The dapper gentleman sat in a hastily brought chair and Steven returned to the dictaphone and the pile of waxed cylinders. Counting the assistant, there were twelve seated around the table.
T’flon stared at the old man. “M’nacht, I heard you were missing! I didn’t expect to see you again alive!”
M’nacht smiled. “The rumor of my death was greatly exaggerated. As you can see from my faded bruises, I’m healing. As a member of your board of directors and a shareholder, I felt I should attend this important meeting so came out of hiding. Don’t let me interrupt; please proceed.”
“It’s always nice to see you, M’nacht, but I’m not sure that this meeting is any more important than others. There was a strange glitch in our secure messages and the interest rate for small businesses and home owners was erroneously lowered to the level we give to the corporations. Somehow, one individual discovered the mistake and was able to pay off their loan at the greatly reduced rate as it rolled back the amount owed to the principal minus the payments completed. The word spread and several people did the same. We are rectifying that tomorrow.”
M’nacht cocked his head. “Why?”
Several board members looked up at the question.
M’nacht continued. “I looked up the original description of a financial institution’s purpose in subsection 4A of our founding constitution. It said that a bank and their customers were to work with an aligned interest: to prosper. Since that was the constitutional intent, then the corporations’ and the bank’s interests would be aligned… but with the smaller non-corporate loans that would not be the case.” He turned to the rest of the people on the board. “I’ve missed a few meetings. Did you vote for the two levels of interest rates?”
Heads were shaking in negative answers and a few said, “No.”
M’nacht looked at a now flustered T’flon. “Let’s leave it with the change.”
“That would be preposterous! Why, we would lose money!” sputtered the head of the bank.
“No, Therad First Financial wouldn’t make as much money, but they wouldn’t lose money. By doing what was intended in the constitution, the interests would be aligned with all of our borrowers. Businesses could grow or fail by their own actions and not by the artificial shoring up of one business to the detriment of another. It is our job to treat all accounts by the same standard. If businesses prosper across the scale of small to large, everyone flourishes. There is more employment, more building, purchasing and investing. How can that be bad for Therad First Financial?”
“Each of the small loans that got paid off when the interest rate changed,” growled T’flon, “was backed with collateral, usually a home. We were going to get our money back by selling the homes. We don’t always make it back, sometimes we lose money.”
“Exactly!” said the old gentleman. “And why were the loans defaulted on?”
T’flon sputtered and M’nacht turned to Steven. “You keep the books. Give me the reasons.”
“Loss of income due to death, prolonged illness, business closure… theirs or their employer’s,” answered the young man.
There were nods around the room, including M’nacht’s.
“Let’s look at the last set first. Why did the businesses close, Steven? Do we have data on that?”
The assistant opened a journal ledger he had brought to the meeting in case questions arose. Running his finger down the columns, he answered, “Poor business practices and investments…”
More nods were seen.
“…and lines of credit closed.”
“Why were they closed?”
Steven looked up briefly before dropping his eyes back to the ledger. “To free up capital for the bank to invest elsewhere or due to delinquency in repayment. When the lines were closed, we set up a payment schedule, but they couldn’t draw any more money out.”
All eyes shifted to T’flon. A small board member with spectacles spoke up, “That first doesn’t sound like the interests were aligned for that customer. Wasn’t the loan a contract? How could we call in a loan simply because another client needed more money?” He leaned forward and cocked his head at T’flon. “Let me guess. This was one of those high-interest small loans anyway, so the debt had increased. Which also could have contributed to the missing payments. The freed-up money was going to a larger loan with a lower interest rate that gives us more perks. We broke a contract gambling on the fact that the recipient wouldn’t have the money for a lawyer to sue us, and the corporation would yield a bigger profit and stock pile it in our vaults to be paid out in bigger dividends to us?”
T’flon sputtered, “Now wait just a minute! Our job is to make money!”
A mustached man in a pinstripe suit interrupted, “We all understand building income. But what you’re saying is that our profit and those of our favored clients… like corporations, are more important than the smaller loan holders’ ability to earn and thrive.” He paused just a moment. “That is exploitive. Just how long have we been doing these predatory practices and on whose authority? I certainly don’t recall voting on such!”
M’nacht held up his hand. “That was a reason for a business closure. There are other reasons, I’m sure. But if our practices caused the business to close, then it has a ripple effect. The loss of income for the owner and each of the employees, their spending ability in any number of businesses they frequent, from grocery stores to tailor shops, impacts the secondary establishment. It can cascade into home foreclosures, unemployment, hunger, hopelessness and…” He paused as he looked around the room. “…riots.”
A thin, elegantly dressed woman spoke up. “Are we part of the reason for the riots?”
T’flon was visibly shaking. “What is this? You all have benefited handsomely from being on this board and by Therad First Financial’s policies. We have the right to make profit and that’s what we do. There isn’t one loan we make that we lose money on. Between the default insurance, interest rates, fees and recognizing
where to place our bets, we have shown record profits. It isn’t personal! It’s business! When we see an investment weaken, we cut our losses. Our intelligence and management have gotten us the perks. The weaker loan holders need to try harder, work harder and perhaps they could achieve some level better than what they have.”
The room was silent but for the enraged breathing of the chairman.
The elegant woman cleared her throat. “I make a motion that we end our predatory practices. All loans have to meet the same standard criteria and receive the same interest rate. All loan contracts will be subject to the same letter of the law.”
There were “Ayes” around the room. Only T’flon and one other man opposed.
The mustached man raised his hand off the table. “I’d like to propose a second motion that there will be no hidden charges. The fees will be minimal and spelled out in a clear fashion to be applied equally to every loan and account holder.”
Again the vote was two against and nine for the motion.
M’nacht spoke after Steven changed the waxed tube in the recording device. “You mentioned death and illness as reasons.” T’flon looked like he wanted to explode and the old gentleman made a placating gesture. “I know we have no control over either, but with this illness sweeping through our people, there will be a number of our clients impacted. This can hurt First Financial. If you look at the damage our predatory policies have created, we have a public relations nightmare at a time of explosive unrest. This can get very dangerous. I suggest we go through all of the loans we have and completely forgive past interest rates, roll everything into the loan at the new lower fee schedule. Due to this crisis, I think we need to consider extending the loan timeframe. This would lower the monthly payments. If we are to survive, we need to be seen as fair and helpful to all our depositors.”
The spectacled man raised his hand. “M’nacht has a valid point. We had better clean up this mess. I want to add another thought to his suggestion. Values of property have plummeted over the last few years. We should adjust the loans to reflect the current valuations. Let’s make our patrons happy to be working with us. Yes, our profits will be less, but we won’t lose money. We might even make more in the long run as the strain on our citizens lifts and people get back to work. To be clear, T’flon, the people who are being hurt the most by these exploitive policies are: the home owners, members of the security force that protects us, teachers, pensioners, medical professionals, and the list goes on. Do you now understand our concern?”
The elegant woman stated the two suggestions as a motion. This time it passed ten to one.
The mustached man turned to Steven. “I’ll work with you on writing a statement reflecting the changes we made today. We must get this to all the newspapers as soon as possible.”
Hope
The following morning, as the workers rushed to work, they could hear a cacophony of excited newsboys. “Getcha free pay-per! Council passes reforms! Reeead the City Voice.” It didn’t matter which newspaper, all were free, and each had a startling headline. “Reeeeeead all about it! Therad First Financial changes banking policies! Getcha Tribune! Free pay-per today! The Express News excloo-sive: Chemedco investi-gated!”
People were actually late for work as they stopped where they were on the sidewalks to read all the details. The streets were abuzz as the stories were discussed until every nuance could be squeezed from them.
Kes had gotten up a bit earlier than usual. His mind had been restless all night as he processed the information that had come to him in the last few days. So when he heard the cadence of the newsboys, he made sure he got each edition. Sitting on the steps, chewing his stale morning rolls, he began to read.
It was remarkable that many of the reforms the articles mentioned were very similar to those the unknown author had outlined in The City Voice less than a week before. At that time, he’d felt that they’d be lucky if any would happen. What the newspapers outlined this morning was marvelous in itself, but it was nigh-on a miracle that they went further than even those in M’nacht’s piece.
He set the first paper down and picked up the next. People, who were walking by where he sat, were animated with the possibilities presented. Many planned to go to Therad First Financial to learn how their debt could be modified.
He turned the page. There was the chilling news, too. Raj’t from Chemedco was being questioned about manufacturing The Blight and four of that company’s employees were suspected of the severe beating of M’nacht and the murder of one of his employees. Details were being withheld until the investigation was complete.
He lowered the paper to his lap and gazed unseeing as he thought about Mikla and the loss of her intellect and courageous spirit. “Well, I’m glad they caught the guys. We don’t need the likes of them roving around. Maybe I can be Kes again.”
Aware of the time flying by, he brought his attention back to the pile of newspapers. Every page had some monumental piece of information. On page three of Express News was an item about the Ecological Sciences department developing a medicine that was effective in eradicating The Blight. The report stated it had been developed in secret, but now had the blessing of the Council of Elders. A new pharma company was working with the sciences to combine their expertise for the benefit of Myrn’s citizens. Kes smiled and picked up the next one.
The second page of The City Voice had a story of a group of wealthy individuals setting some buildings and funds aside for future entrepreneurs. The project was geared toward speeding up the growth and success of startup and early stage companies.
Thom sat down beside him. “Big news morning, young Kes. I guess you’ll be back to that name before the end of the day.”
“What do you think of all of this, Thom?” He tapped the pile of papers at his feet.
The bespectacled gleaner was silent for a long moment. “I’ve survived. Made my way despite rotten luck and hardship. Good news, particularly a lot of it at once, sets my nerves on edge. I don’t trust it. I don’t like charity. It insults me. Life has made me a realist, but it hasn’t made me stupid. I’m taken with that article about startup companies. That isn’t a hand out and I’m giving it some thought. Growing old as a gleaner is not the best scenario.”
Kes picked up the papers and stood up. Gazing at the people, he couldn’t help but feel the excitement. “Everything could have gone the other way. The situation was coming to a head, and if something hadn’t happened, it would have gotten bloody. I’m grateful for this news, but…”
Thom nodded. “I agree. I’m sure that all over the city, and eventually the entire moon, people are reevaluating their prospects. There’ll be many, though, who prefer a steady paycheck. They’ll file into the usual lines for the steam plant and factories.” He paused. “The articles seem to indicate working conditions there will improve, with safety inspections and rules. All positive things for the majority, but the status quo has shifted and there will be some very unhappy people who used to hold all the power. They’ll be very busy looking for loopholes in the new regulations and trying to swing the pendulum back. Those folks don’t like change and a cut in their profits. The optimistic people you see in front of us are delighted, but the reality is the people who have the wealth and power can play the long game. They have the resources and the desire to do that. See, young Kes, to them, the amount of money they have is a direct reflection of their personal worth. They feel they deserve it. The way they see it, they have amassed a phenomenal amount of wealth because they’re the smartest. Restricting that flow of kronots into their coffers is taken personally. Sort of like insulting their manhood.
“Don’t get me wrong. I agree with you. Without the intervention of these reforms, we could have moved into a revolution. I’m just saying it’s happened before and will probably happen again.” He made a sweeping motion with his arm toward the people moving around on the streets. “There are a lot of intelligent folk on Myrn, but in some ways the rich thinking they are smarter than t
he ‘little people’ have a point. They’re not any brainier, mind you, but they are more focused.” With that thought-provoking comment, the gleaner took the newspapers from Kes and stuffed them into his pickings bag. “Better head to work. I’ll be seeing you around.”
As Thom disappeared around the corner, Kes shook his head. “I always thought that man looked like a professor,” he muttered to himself.
It was just before lunchtime when Kes saw Mitch and Dylan approach his boss. There was a brief discussion between the three before the gruff building supervisor called him over. “Rus, these two need you to do a project for them. You’re fired. I’ll just have to hire another maintenance fellow. You go on. Make use of your real talents; not that you didn’t do a good job here, but I think perhaps you were trained for something else.” He gave the young man a wink. “Go empty your locker. I’ll have your pay when you get back.”
With a grin, Kes left at a run. Within five minutes, he was in a steam car with Mitch and M’nacht’s research manager, on his way back to his apartment. The entire time, the two men were filling him in. He showered and packed some gear for a dive in the Cradle to collect more specimens. Medicine was in critically short supply and they needed as many divers as possible in the water, collecting the specific marine organisms.
Mitch had been doing most of the talking, but eventually he wound down. Dylan looked over at Kes’s boss and raised his eyebrows. Looking a little sheepish, he nodded. “Your turn.”
“Kes, M’nacht wanted you to know what Mikla found. There were three different focal points from which some form of change happened in the past. She couldn’t learn of any specifics, but the boss felt you would understand. Ran and Oshe have been combing those areas looking for something like the glyph that’s in the science building. They have some candidates. When you have collected the sea slime for Mitch, come by the office. I’ll give you the details. One of my team will help you locate them.”