Article

2023-05-02 Economy

JPMorgan takes control of First Republic's $92 BILLION deposits but not company's $100B corporate debt or preferred stock after buying bank

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Posted by Skidmark 2023-05-02 00:00|| E-Mail|| Front Page|| [22 views ] Top

#1 First Republic's collapse was sparked by 'jumbo mortgages' with interest-only loans at rock bottom rates for the wealthy such as Goldman Sachs' COO and a music exec - who could wait a DECADE before paying back millions

Posted by Skidmark 2023-05-02 00:45|| 2023-05-02 00:45|| Front Page Top

#2 The bailout will be landing soon. All taxpayers donn crash helmets and prepare to be beat down.

Posted by Super Hose 2023-05-02 12:29|| 2023-05-02 12:29|| Front Page Top

#3 Sure am glad we have a government that is For the Little Guy and doesn't just enrich the big banks!

Posted by Tom 2023-05-02 19:24|| 2023-05-02 19:24|| Front Page Top

#4 I don't mind if a bank gets "enriched" as long as "the little guy" doesn't get screwed in the end (e.g., bail-ins, higher taxes or fees, problems accessing one's account).

Posted by DooDahMan 2023-05-02 22:39|| 2023-05-02 22:39|| Front Page Top

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