Surveillance: JPMorgan To Acquire First Republic
Bloomberg Surveillance
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The Federal Reserve's Failure to Regulate Small Medium-Sized Banks
Joseph LaVornia, Chief U.S. Economist at SMBC: The problem resides with the federal reserve. Management issues exist in banks, no question, but this Fed raised rates much more than the forward guidance suggested. In the banking system, the lending system doesn't work when you have a higher short rate versus the longer rate yield curve; that causes recessions.
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