Gun Country
The Young Turks
00:00
JP Morgan Chase's Purchase of First Republic Bank
The Federal Deposit Insurance Corporation or FDIC sees control of the troubled first Republic bank and sold it to Chase. First Republic failed despite having received some money recently, a $30 billion lifeline from 11 of the country's largest banks in March. The FDIC estimated that its insurance fund would have to pay out about $13 billion to cover first republic's losses. But ultimately I think you'll see JP Morgan sit with these assets and sell them and move forward.
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