The FDIC announced it seized First Republic Bank and that JPMorgan Chase would be purchasing the bank’s assets and deposits. Barron’s reporter Megan Cassella explains what led up to the latest banking failure and whether officials think it stems from previous crisis in 2023.
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#FDIC #FirstRepublicBank #JPMorgan
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First Republic Bank was the 14th largest bank in the US, and it wasn't subject to the most strict controls. How many banks actually are subject to those controls, besides the big four? Any bank could suffer a run and fail, and if that happens to a community level or even state level bank it probably won't upset the national economy or ecosystem of banks, but any multi-state bank should be more closely watched, I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.
Start pulling out your funds ppl.
Unless every member of the C-Suite dies in prison, who cares? Is this not just another typical case? Enron set the stage, and they have all followed. How many of their C-Suites and executives ever truly paid for anything? Did their wives and children get pushed into middle class? NO. No pain was endured, except by everyone else. HOW MANY PEOPLE KILLED THEMSELVES? HOW MANY ENTIRE FAMILIES WERE DESTROYED?
Wealthy people are not truly human. They just are not. They are protected, in ways the middle and lower classes can never conceive.
EAT THE RICH. Take advantage every time you can, and take everything you can—especially if it can be used to destroy them.
Fed doesn’t know what it is doing.
chase is a horrible bank they work with scammers to scam people
Why First Republic failed. Are other banks to follow? Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom:
It’s time to BREAK UP “ALL” MONOPOLIES. Support Sen Eliz Warren she needs our support ‼️🥰
These are the signes of America's landslide. Huge disaster much bigger than the great depression is on its way.
I keep my money, NOT IN A BANK. Who didn't learn how crooked banks are yet? Wells Fargo. "your money is safe" well what else are they gonna say?
The FED is a private zionist controlled bank. Control the money you control the people. ZION! Usury is a jeweish invention. Don't keep you stash in a bank.
Dumb. Saving? Remember cans full of gold eagles burried in the yard? Stashed in the garage?
Low interest rates for multi million dollar properties.
This spook the shareholders of other small banks.
Regulations would have prevented it. You can't trust the corporations, who are profits based, to do the right things without regulations to hold them to a standard. They will always put profits ahead of safety, quality and security.
So now the Biggest bank 🏦 In the US gets bigger and way to big to fail And just like 2008 no banker's will go to jail..
😂😂😂😂😂😂😂😁😁😁😁😁😁😁😁😁
Let me guess….greed and corruption had nothing to do with this
It was just a few days ago they where going to try to save it ?
FAKE IT 'TIL YOU MAKE IT —- Make it up as you go along… pay as you go.
First Republic failed because the executives sold millions in shares
Monopolies creating oligopoly. Greed.
Yeah thanks for this great economy, government. The dems just are not good with the economy. Inflation now killing banks and billions in handouts again. People need to stop voting with your feelings, unless you like this slide we in
Let me guess, they invested in LNG and Biden's proxy war in Ukraine. They shouldn't feel bad, because the feds had to raise the debt ceiling despite LNG sales to Europe up 140%. If you were there for the initial spike, you're ok, but in the long run, no better than Tesla and they didn't have to blow up Russian car factories…..lol
Everyone blaming everyone else. The bank has no one to blame but themselves. Despite de-regulations the bank is responsible how it runs business. Despite who’s president the bank makes its own choices.
But these people opened an account with First Republican, not with JP Morgan. 😅😅😅if they wanted to bank with aJPM they would have to begin with 😅😅😅
Ahh how are the sanctions on Russia?
AHH failed state America keeps failing
Everyone can thank the president and Ukraine, for the banks, collapsing
In 2018, Donald 'Six Bankruptcies' Trump signed a bill that ended regulatory requirements for regional banks with less than $250 billion in assets. "Under the new rules, such institutions no longer had to submit to 'stress testing' by the Federal Reserve and were no longer required to keep a certain amount of cash on hand to protect against the effects of financial shocks." Fifteen banks failed during Trump's tenure.