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During this disturbance the Signory closed the palace and kept their magistrates about them, without showing favor to either party. The citizens, especially those who had followed Luca Pitti, finding Piero fully prepared and his adversaries unarmed, began to consider, not how they might injure him, but how, with least observation, glide into the ranks of his friends. The principal citizens, the leaders of both factions, assembled in the palace in the presence of the Signory, and spoke respecting the state of the city and the reconciliation of parties; and as the infirmities of Piero prevented him from being present, they, with one exception, unanimously determined to wait upon him at his house. Niccolo Soderini having first placed his children and his effects under the care of his brother Tommaso, withdrew to his villa, there to await the event, but apprehended misfortune to himself and ruin to his country. The other citizens coming into Piero's presence, one of them who had been appointed spokesman, complained of the disturbances that had arisen in the city, and endeavored to show, that those must be most to blame who had been first to take up arms; and not knowing what Piero (who was evidently the first to do so) intended, they had come in order to be informed of his design, and if it had in view the welfare of the city, they were desirous of supporting it. Piero replied, that not those who first take arms are the most to blame, but those who give the first occasion for it, and if they would reflect a little on their mode of proceeding toward himself, they would cease to wonder at what he had done; for they could not fail to perceive, that nocturnal assemblies, the enrollment of partisans, and attempts to deprive him both of his authority and his life, had caused him to take arms; and they might further observe, that as his forces had not quitted his own house, his design was evidently only to defend himself and not to injure others. He neither sought nor desired anything but safety and repose; neither had his conduct ever manifested a desire for ought else; for when the authority of the Balia expired, he never made any attempt to renew it, and was very glad the magistrates had governed the city and had been content. They might also remember that Cosmo and his sons could live respected in Florence, either with the Balia or without it, and that in 1458, it was not his family, but themselves, who had renewed it. That if they did not wish for it at present, neither did he; but this did not satisfy them; for he perceived that they thought it impossible to remain in Florence while he was there. It was entirely beyond all his anticipations that his own or his father's friends should think themselves unsafe with him in Florence, having always shown himself quiet and peaceable. He then addressed himself to Diotisalvi and his brothers, who were present, reminding them with grave indignation, of the benefits they had received from Cosmo, the confidence he had reposed in them and their subsequent ingratitude; and his words so strongly excited some present, that had he not interfered, they would certainly have torn the Neroni to pieces on the spot. He concluded by saying, that he should approve of any determination of themselves and the Signory; and that for his own part, he only desired peace and safety. After this, many things were discussed, but nothing determined, excepting generally, that it was necessary to reform the administration of the city and government.

The Gonfalon of Justice was then in the hands of Bernardo Lotti, a man not in the confidence of Piero, who was therefore disinclined to attempt aught while he was in office; but no inconvenience would result from the delay, as his magistracy was on the point of expiring. Upon the election of Signors for the months of September and October, 1466, Roberto Lioni was appointed to the supreme magistracy, and as soon as he assumed its duties, every requisite arrangement having been previously made, the people were called to the piazza, and a new Balia created, wholly in favor of Piero, who soon afterward filled all the offices of government according to his own pleasure. These transactions alarmed the leaders of the opposite faction, and Agnolo Acciajuoli fled to Naples, Diotisalvi Neroni and Niccolo Soderini to Venice. Luca Pitti remained in Florence, trusting to his new relationship and the promises of Piero. The refugees were declared rebels, and all the family of the Neroni were dispersed. Giovanni di Neroni, then archbishop of Florence, to avoid a greater evil, became a voluntary exile at Rome, and to many other citizens who fled, various places of banishment were appointed. Nor was this considered sufficient; for it was ordered that the citizens should go in solemn procession to thank God for the preservation of the government and the reunion of the city, during the performance of which, some were taken and tortured, and part of them afterward put to death and exiled. In this great vicissitude of affairs, there was not a more remarkable instance of the uncertainty of fortune than Luca Pitti, who soon found the difference between victory and defeat, honor and disgrace. His house now presented only a vast solitude, where previously crowds of citizens had assembled. In the streets, his friends and relatives, instead of accompanying, were afraid even to salute him. Some of them were deprived of the honors of government, others of their property, and all alike threatened. The superb edifices he had commenced were abandoned by the builders; the benefits that had been conferred upon him, where now exchanged for injuries, the honors for disgrace. Hence many of those who had presented him with articles of value now demanded them back again, as being only lent; and those who had been in the habit of extolling him as a man of surpassing excellence, now termed him violent and ungrateful. So that, when too late, he regretted not having taken the advice of Niccolo Soderini, and preferred an honorable death in battle, than to a life of ignominy among his victorious enemies.

The exiles now began to consider various means of recovering that citizenship which they had not been able to preserve. However, Agnolo Acciajuoli being at Naples, before he attempted anything else, resolved to sound Piero, and try if he could effect a reconciliation. For this purpose, he wrote to him in the following terms: "I cannot help laughing at the freaks of fortune, perceiving how, at her pleasure, she converts friends into enemies, and enemies into friends. You may remember that during your father's exile, regarding more the injury done to him than my own misfortunes, I was banished, and in danger of death, and never during Cosmo's life failed to honor and support your family; neither have I since his death ever entertained a wish to injure you. True, it is, that your own sickness, and the tender years of your sons, so alarmed me, that I judged it desirable to give such a form to the government, that after your death our country might not be ruined; and hence, the proceedings, which not against you, but for the safety of the state, have been adopted, which, if mistaken, will surely obtain forgiveness, both for the good design in view, and on account of my former services. Neither can I apprehend, that your house, having found me so long faithful, should now prove unmerciful, or that you could cancel the impression of so much merit for so small a fault." Piero replied: "Your laughing in your present abode is the cause why I do not weep, for were you to laugh in Florence, I should have to weep at Naples. I confess you were well disposed toward my father, and you ought to confess you were well paid for it; and the obligation is so much the greater on your part than on ours, as deeds are of greater value than words. Having been recompensed for your good wishes, it ought not to surprise you that you now receive the due reward of your bad ones. Neither will a pretense of your patriotism excuse you, for none will think the city less beloved or benefited by the Medici, than by the Acciajuoli. It, therefore, seems but just, that you should remain in dishonor at Naples, since you knew not how to live with honor at home."