Confidence in the entire national financial and political system collapsed. Parliament investigated and concluded that there had been widespread fraud by the company directors and corruption in the Cabinet. Among Cabinet members implicated were the Chancellor of the Exchequer, the Postmaster General, and a Secretary of State, as well as two other leading men, Lord Stanhope and Lord Sunderland. Walpole had dabbled in the speculation himself but was not a major player. He rose to the challenge, as the new First Lord of the Treasury, of resolving the financial and political disaster. The economy was basically healthy, and the panic ended. Working with the financiers he successfully restored confidence in the system. However, public opinion, as shaped by the many prominent men who had lost so much money so quickly, demanded revenge. Walpole supervised the process, which removed all 33 company directors and stripped them of, on average, 82% of their wealth. The money went to the victims. The government bought the stock of the South Sea Company for £33 and sold it to the Bank of England and the East India Company, the only other two corporations big enough to handle the challenge. Walpole made sure that King George and his mistresses were not embarrassed, and by the margin of three votes he saved several key government officials from impeachment.