business

Asian shares up after First Republic aid spurs Wall Street rally

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By ELAINE KURTENBACH

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This is a delayed response. If you check the US market now, it is one of the worst trading days because of competitors giving another competitor $30 billion raise eyebrows and doubts

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These bank got 620 billion dollars in non functional assets

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“"The market remains cautious; traders do not want to get overexcited, especially with investors still focusing on what can go wrong instead of what could go right,” Stephen Innes of SPI Asset Management said in a report.""

SO RIGHT, these day everyone is focused on what go TERRIBLY wrong instead of what could go BAD.

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Interesting, why did First Republic accept this lifeline/capital infusion/etc. from this "Group of Bulge Bracket Bank" and not Fed's new banking credit facility?

Answer? Because these Banks tapped into this credit facility and THEN 'threw' their support to First Republic!

You see, all smoke and mirrors, looks FAR better that all these Banks believe in First Republic, FAR better than a FED credit facility, which was used anyway!

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