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BREAKING - First Republic Bank cut to ‘junk status’ by Fitch and S&P…
Bloomburg Business ^ | 03.15.2023 | Bloomburg Business

Posted on 03/15/2023 5:01:27 PM PDT by rxsid

JUST IN: First Republic Bank, the San Francisco-based lender that was cut to junk by S&P and Fitch, is exploring strategic options including a sale https://t.co/fRG03oAtZG pic.twitter.com/p5vSNmnTnd— Bloomberg (@business) March 15, 2023



TOPICS: Breaking News; Business/Economy; Government
KEYWORDS: bankfailures; banks; bidenflation; bidenvoters; bloomberg; bloombergbusiness; cbdc; diversity; esg; firstrepublicbank; fitch; inflation; junkstatus; sandp; sanfrancisco; siliconvalley; sp; woke
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1 posted on 03/15/2023 5:01:27 PM PDT by rxsid
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Article - First Republic Bank Is Said to Weigh Options Including a Sale
2 posted on 03/15/2023 5:03:18 PM PDT by rxsid (HOW CAN A NATURAL BORN CITIZEN'S STATUS BE "GOVERNED" BY GREAT BRITAIN? - Leo Donofrio (2009))
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To: rxsid

No need to fret. The taxpayers are good for any losses.


3 posted on 03/15/2023 5:03:56 PM PDT by PAR35
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To: rxsid

Buy! Buy! Buy! /s


4 posted on 03/15/2023 5:04:09 PM PDT by RckyRaCoCo (Please Pray For My Brother Ken.)
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To: RckyRaCoCo
"Buy! Buy! Buy! /s"

Yup, that's what the moron Jim Cramer would say.

5 posted on 03/15/2023 5:06:01 PM PDT by rxsid (HOW CAN A NATURAL BORN CITIZEN'S STATUS BE "GOVERNED" BY GREAT BRITAIN? - Leo Donofrio (2009))
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To: rxsid

Does this mean pedojoe knew and paid his family millions before the crash ? How many congresscritters did likewise ? Is the bailout exclusively for themselves ? Were children with no family in d.c. molested ?


6 posted on 03/15/2023 5:09:29 PM PDT by no-to-illegals (The enemy has US surrounded. May God have mercy on them.)
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Their stock has lost -73.75 (-70.30%) in the last 5 days.
7 posted on 03/15/2023 5:09:59 PM PDT by rxsid (HOW CAN A NATURAL BORN CITIZEN'S STATUS BE "GOVERNED" BY GREAT BRITAIN? - Leo Donofrio (2009))
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To: rxsid

But, but, I thought FJB saved us…


8 posted on 03/15/2023 5:14:10 PM PDT by wjcsux (RIP Rush Limbaugh 12 Jan 1951- 17 Feb 2021. We really miss you. 😢)
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To: rxsid

I have to go grocery shopping …… Several million should get me bread and bologna


9 posted on 03/15/2023 5:15:57 PM PDT by no-to-illegals (The enemy has US surrounded. May God have mercy on them.)
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To: PAR35

But, But, but Bidum said it wouldn’t cost taxpayers a dime——


10 posted on 03/15/2023 5:19:37 PM PDT by OldWarBaby
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To: rxsid

They were my bank years ago and then BofA bought them, so I left instantly. I didn’t even know they had gone independent again until last week. Too bad - their retail banking customer service was pretty good.


11 posted on 03/15/2023 5:21:27 PM PDT by Mr. Jeeves ([CTRL]-[GALT]-[DELETE])
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To: PAR35

Maybe we can use confiscated of funds of the Central Bank of the Russian Federation and other large Russian assets.
Why not? It’s not like that would cause any loss of confidence in US government.


12 posted on 03/15/2023 5:22:02 PM PDT by griswold3 (Truth, Beauty and Goodness ; Quos Deus vult perdere, prius dementat)
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To: no-to-illegals
I have to go grocery shopping …… Several million should get me bread and bologna

Actually, it's global monetary deflation that causing the issues we're seeing.

Yes, we've seen "price" inflation - but not to be confused with monetary deflation.

As the global money supply continues to shrink through illiquidity you will see price inflation generally reduced.

This all means that your bread and bologna might be coming down in price as this whole mess plays out.

Monetary deflation can be a monster to stop. It sounds good in some respects, but results in massive unemployment and bankruptcies across the globe - with the banksters getting (stealing) the underlying assets.

13 posted on 03/15/2023 5:24:56 PM PDT by politicket
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To: PAR35

“No need to fret. The taxpayers are good for any losses”

It’s a San Francisco Bank so there are unlimited funds. Worst case they might have to divert some of the billions in black reparation funds over to them that cover the losses. All is well / this is fine.


14 posted on 03/15/2023 5:26:49 PM PDT by DAC21
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To: rxsid

When are they going to cut FJB’s U.S. to “junk status”. That’s what they would be doing if Trump was in the WHITE House right now.


15 posted on 03/15/2023 5:26:50 PM PDT by FlingWingFlyer ("I may be a white boy but I'm not stupid". - FJB at Black "History" event. Tell 'em Jo Jo!)
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To: rxsid

Junk Status = Libtard Status


16 posted on 03/15/2023 5:29:04 PM PDT by NWFree (Somebody has to say it 🤪)
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To: rxsid

What’s the reason? Same as the others, they didn’t manage/hedge their bond risk? Or just because their stock price is down? I guess if they got downgraded there is a reason. But it may not have to do with risk management of their bonds per se. Could be the risk of their portfolio. If they are heavy into small retail, small commercial real estate and small business they may be facing higher default risk.


17 posted on 03/15/2023 5:29:33 PM PDT by monkeyshine (live and let live is dead)
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To: DAC21

San Fran and California are on a path to bankruptcy on a rocket sled. Joe and China will bail them out for a price.

California will become a Chinese sattelite.


18 posted on 03/15/2023 5:29:37 PM PDT by Texas resident (Who is running our country?)
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To: rxsid

Here’s a free article (if you allow ads) from the newspaper that sued this website:

https://www.latimes.com/business/story/2023-03-15/first-republic-bank-cut-to-junk-status-by-s-p


19 posted on 03/15/2023 5:31:13 PM PDT by monkeyshine (live and let live is dead)
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To: PAR35
No need to fret. The taxpayers are good for any losses.

Yeah, because we're the only ones NOT "too big to fail!"

20 posted on 03/15/2023 5:33:15 PM PDT by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
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