Gun Country
The Young Turks
00:00
JP Morgan Chase's Bailout of First Republic Bank
The FDIC is powered by money that it takes from banks to cover for insurance in case of a situation like this. Normally, when there's any kind of organization that gets involved, they will get most of the upside if they finance it. In this case, it's a really weird situation because the FDIC is largely taking the losses,. So for them to own anything is kind of weird. And so, but usually when the government does a bailout, we should get at least a huge portion of the proceeds, but we never do.
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