JP Morgan Chase steps in to buy beleaguered First Republic Bank | DW Business

US government have seized California's embattled First Republic Bank. A major Wall Street Bank, JP Morgan Chase, is stepping in to buy it.
The San Francisco-based First Republic is the third midsize bank to fail in two months, after Silicon Valley Bank and Signature Bank. J-P Morgan Chase Bank will assume all of First Republic's loans and most of its assets. The bank has a large amount of uninsured deposits and a high exposure to low interest rate loans.

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[serenasmith]

This is scary. Rich people pay politicians to make sure they get access to taxpayer funds first when banks shutter or they're in jeopardy of losing all their money. I feel bad for the lowest paid workers that may be affected, but not CEO's. A lot of them have created this abusive corporate pay structure where they are paid 300 to 400 percent the salary of entry level workers. Most add very little value. They posture and perform with speeches, meetings, and excessive travel to provide the appearance of working hard. It's a con.

[pumalee]

Don't worry about US, russia is about to collapse.😂

[sheepwshotguns]

i like the framing of the title. its like they're making it sound as though further monopolization of the market is a charitable activity.

[harukrentz]

Its hillarious they keep saving the banks. Trully socialism for the rich.

[oldsteamguy]

How many other banks are in a similar precarious situation?

[jamesandersonsmith]

I love the grounded reality of this channel!!, No doubt we're already in recession, but the worst is yet to come. My greatest happiness is the $18, 600 biweekly profit i get consistently.

[travisporco]

love to know what kind of corruption underlay this mess

[maximme]

the secretive deal doesn't tell how the US government subsidizing the deal.

[maxsmith]

US banks are very vulnerable to high interest rates as they have given out a lot of loans when the interest rates were close of zero and now its almost at 8-9%.

[SallyanneXxx]

It's a bit like The Ukraine. Everything is ok, nothing to worry about, its transitory.Whatever it takes
Then they all fold. Silicon Valley Bank, Signature Bank, First Republic Bank.
But chin up, and lets all congratulate the UK on a fantastic result of 10.2% Inflation for March.
I hope you guys dont see an increase in energy costs overthere in Europe, because that will be the end of you

[TomSmith-srbr]

I read that the FDIC gave JP Morgan tens of billions during this process. So, what did JP Morgan bid? Seems to me, they were paid by the Feds to take the bank. Wtf is going on in this country?

[lordGalthran]

good thing some nation already pull back their gold deposits 😅

[gigachadsitler]

Same thing happened in 2007 crisis. 😢😢

[bigboss.]

American economy is strongest in the world its based on oil, gas and war . 😂

[seccat]

Need that “Too Big To Fail Bank” has to save the nation…. AGAIN.
Being Super (Jamine) Man 💫 is a thankless job.

[xabisombilini]

🤣🤣🤣🤣 and these are the same people who think they can wage economic war against China.

[disanKh]

Russian economy is already collapse right 😅
Funny American

[SheepofTheShepherd-nulz]

not matter the name, will still collapse

[markharcourt]

Charles Darwin posted on twitter today.
"WTF are the monkeys doing"?

[mabra-tico]

Apakah zombie 'sleepwalking' itu masih menikmati kemarii, setan! tempat ini adalah bagian jaringan setan dan iblis!! lalu mengapa setan pragmatisme itu menari, monster??