News Forum - JPMorgan Chase swoops in to buy US crisis bank First Republic

[Thaiger]

US financial authorities seized California’s struggling First Republic Bank on Monday and sold it to JPMorgan Chase, hoping to bring stability to a banking crisis that has rattled the financial system. First Republic, following the disclosure of a loss of over US$100 billion in deposits in the first quarter, became the second-largest bank by assets …

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[Grumpish]

I am still of the view that this what should have been allowed to happen in 2008, the smirking "we are too big to be allowed to fail" banks should have been allowed to go to the wall, and the banks that still had something left been allowed to pick over the carcasses for anything worth having. Still would have been painful, but at least we probably wouldn't still be feeling the pain caused by all the money they printed to bail them out with.