Introduction

First Republic Bank, the second biggest bank in US history to collapse, went down and was taken over by JP Morgan. In just two months since the beginning of March, the FDIC's Deposit Insurance Fund has paid out around $35 billion to save Silicon Valley Bank, Signature Bank, and now First Republic Bank. This is another example of how private banks are getting bailed out by the government. And large banks like JP Morgan, the largest bank in the United States, is given a sweet heart deal where it's going to make billions of dollars.