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First Republic Bank seized, sold to JPMorgan Chase

11 Comments
By KEN SWEET

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11 Comments
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What happens when RATES rise QUICKLY, why you ask?

1) Deposits leave/run-off for higher returns than savings accounts, e.g. money market funds investing in treasuries

2) Long Duration Assets marked to market, reflects higher rates, eg. mortgage 'credit' portfolio DROPS in Value!

-1 ( +2 / -3 )

Also 'core' US inflation's UNCHANGED since August 22

PLUS OR MINUS 4.5-5%

-1 ( +1 / -2 )

Logical follow-up to above, longer Inflation remains elevated, rates remain elevated and banking 'cancer' of deposit run-off and asset market CONTINUES!

It's Why drivers of inflation, like military spending, war, money printing, deficit spending, excess profits, geopolitical risks, viruses, aging, workforce decline etc. all contribute to SUSTAINED ELEVATED INFLATION

Class over!

-1 ( +1 / -2 )

“Our government invited us and others to step up, and we did,” said Jamie Dimon, chairman and CEO of JPMorgan Chase.

What a telling turn of phrase by Dimon “Our government".

It certainly is, bought and paid for.

2 ( +3 / -1 )

Let them FAIL.

Let the people who invested money in the bank take accountability.

3 ( +3 / -0 )

I sure hope my daughter has been buying into Chase since she got picked up by their Internship program a few years ago :)

1 ( +1 / -0 )

And this is the begginning for good old US....

-2 ( +0 / -2 )

Lax regulation once again, driven by the interests of the players the regulators should be regulating. We never ever learn.

1 ( +1 / -0 )

Giving cheap loans to billionaires who hoard massive piles of cash in savings accounts. Gee, what a great business model. I'm not saying the people who run these kinds of banks are stupid, it just seems they're myopic or have allowed greed or ambition blinker them from reality. Or something.

0 ( +0 / -0 )

Nobody is regulated the bank,but former bankers

0 ( +0 / -0 )

What scared D. Trump?! Mafia, Russians and Organized Crime in general, but did love going after terrorists, drug cartels while in 1600 as well as bankers pre 1600!

History lesson over, but banks never seem to learn/remember!

-1 ( +0 / -1 )

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