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The Second Largest Bank Collapse In History Just Happened, First Republic Bank FAILS

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First Republic Bank collapses and it's assets are sold to JP Morgan Chase. Ana Kasparian and Cenk Uygur discuss on The Young Turks. Watch TYT LIVE on weekdays 6-8 pm ET. http://youtube.com/theyoungturks/live

Read more HERE: https://www.reuters.com/business/finance/california-financial-regulator-takes-possession-first-republic-bank-2023-05-01/

"Regulators seized First Republic Bank (FRC.N) and sold its assets to JPMorgan Chase & Co (JPM.N) on Monday, in a deal to resolve the largest U.S. bank failure since the 2008 financial crisis and draw a line under a lingering banking turmoil.

First Republic was among regional U.S. lenders most battered by a crisis in confidence in the banking sector in March, when depositors fled en masse from smaller banks to giants like JPMorgan as they panicked over the collapse of two other mid-sized U.S. banks."*

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230501__TA03Bank
Category
Europe
Tags
230501__TA03Bank, News, Politics
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