First Republic's Failure Shows the Limits of Fed Bank Programs
The Breakdown
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The FDIC's Decision to Sell First Republic Bank
Bloomberg reported that talks between potential buyers had extended long into the night. Gary Cohn, a former Goldman Sachs president who served as Donald Trump's top economic advisor, said that the FDIC would prefer to sell the bank in its entirety rather than in pieces. But what would most likely happen is the FDIC will seize control and then simultaneously resell the assets to the successful bidder.
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