by Jshbone12

Massive banks should come collectively to save lots of FRC. It’s FRC’s greatest hope at stopping collapse. Nevertheless the Australian Monetary Overview printed this MASSIVE smoking gun and no person is speaking about it:

“executives at 5 of the most important banks, talking on the situation they not be named, dismissed the notion of as soon as once more banding collectively to prop up First Republic, particularly when it may imply paving the best way for traders or a competitor to scoop up the agency at a discount value.

One expressed a willingness to take part – provided that regulators compelled the group to take motion.

A number of banks would like that, if it turns into essential, the FDIC seize First Republic and promote it off. Such a decision, they stated, can be cleaner, even when banks lose cash. Some have already taken reserves.”

The federal government has already stated they won’t support in rescue. Massive banks apparently are unwilling to assist as effectively. The one attainable consequence is a seizure by the FDIC this weekend.

I’m jacked to the tits with FRC places: imgur.com/gallery/4itGe9O

Article reference: www.afr.com/firms/financial-services/first-republic-s-fate-becomes-game-of-chicken-20230427-p5d3qx

Disclaimer: This data is just for instructional functions. Don’t make any funding selections based mostly on the data on this article. Do you personal due diligence or seek the advice of your monetary skilled earlier than making any funding choice.