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San Francisco-based First Republic is the third midsize bank to fail in two months. The only larger bank failure was Washington Mutual, which collapsed at the height of the 2008 financial crisis and was also taken over by JPMorgan.

For Dimon and JPMorgan, there may be a sense of déjà vu: Back in 2008, Dimon was the go-to banker for Washington to find private solutions for that banking crisis and JPMorgan acquired both Bear Stearns and Washington Mutual.

1 posted on 05/01/2023 7:24:31 AM PDT by Diana in Wisconsin
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To: Diana in Wisconsin

I hope we don’t see cascading bank failures ripple through the banking system. Time will tell.


2 posted on 05/01/2023 7:25:48 AM PDT by Dilbert San Diego
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To: Diana in Wisconsin
Story also posted here:

JPMorgan to buy First Republic after regulators seize control

3 posted on 05/01/2023 7:27:10 AM PDT by C210N (Everything will be okay in the end. If it’s not okay, it’s not the end.)
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To: Diana in Wisconsin

If anyone is a Chase customer, now is a good time to pull your account.


4 posted on 05/01/2023 7:27:22 AM PDT by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
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To: Diana in Wisconsin

And after the next bank failure and the next bank failure, they’ll still be telling us...’Nothing to see here..’.....


5 posted on 05/01/2023 7:27:45 AM PDT by G Larry ( DEI = Division + Erroneous Indoctrination)
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To: Diana in Wisconsin

Our Government continues to financially support big businesses like JPM while they implement the destruction of smaller businesses. The Covid lockdowns also allowed the Government to selectively assault not only small businesses, but the Church. So one can only conclude that our Government is pure EVIL.


6 posted on 05/01/2023 7:28:10 AM PDT by Machavelli (True God)
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To: Diana in Wisconsin

Next year, we’re going to find out about the sweetheart deals that the regulators cut with JP Morgan and the other purchasing banks. Just like last time, there is a “crisis” so no one scrutinizes the transactions too carefully.


8 posted on 05/01/2023 7:37:34 AM PDT by Opinionated Blowhard (When the people find that they can vote themselves money, that will herald the end of the republic.)
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To: Diana in Wisconsin

Privatizing profits and socializing loses. Sickening.


9 posted on 05/01/2023 7:54:19 AM PDT by ConservativeInPA ("How did you go bankrupt?" Bill asked. "Two ways," Mike said. "Gradually and then suddenly." )
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To: Diana in Wisconsin

It’s funny, I know, but I don’t seem to remember major bank failures during the Trump administration. Do you think it likely that some reporter might bring this up during Brandon’s next news conference?


10 posted on 05/01/2023 8:23:20 AM PDT by hanamizu
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