Posted on 05/01/2023 10:39:41 AM PDT by RomanSoldier19
Regulators seized troubled First Republic Bank early Monday and sold all of its deposits and most of its assets to JPMorgan Chase Bank in a bid to head off further banking turmoil in the U.S.
San Francisco-based First Republic is the third midsize bank to fail in two months. It is the second-biggest bank failure in U.S. history, behind only Washington Mutual, which collapsed at the height of the 2008 financial crisis and was also taken over by JPMorgan.
First Republic has struggled since the March collapses of Silicon Valley Bank and Signature Bank and investors and depositors had grown increasingly worried it might not survive because of its high amount of uninsured deposits and exposure to low interest rate loans.
(Excerpt) Read more at al.com ...
Morgan will now dump every bad loan they’ve got on their books into the First Republic pot.
So the bank officials are morons like their Governor.
They didn't "acquire" all the assets, the bad ones they left with you and me, otherwise known as the government.
Imagine if this bank failure happened under Trump. There would be saturation coverage in the media. They would be calling it a failure of leadership and an economic calamity.
"Trump's Economic Policy Is A Shambles."
Search still works.
“So the bank officials are morons like their Governor.”
Indeed. And essentially ZERO discussion in the media today about the connections between these failed Bay Area banks and Gavin Newsom. While ass-wipe Newsom cavorts around places like Alabama and Louisiana talking up abortions and his quest to “save democracy,” his two biggest local banks have failed and his state is in a death spiral
Nothing to see here.
Look - transgender Ukraine squirrel over there!
With the FDIC, otherwise known as the banks are paying for it.
For Biden, it was just a Tuesday.
Regards,
"Congress is investigating whistleblower testimony that members of the Trump family made large withdrawals from First Republic Bank in the days immediately before it collapsed."
It’s the Brandon Economy!!!
does it?
put this in search and see what comes up
First Republic Bank seized, sold to JPMorgan Chase: Second largest bank failure in US history
Well, you know, leftists never count their results as important, only their ideology and intentions.
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