The demise of First Republic won’t have come as much of a surprise to anyone. Its shares had been under sustained speculative attack for weeks, and even though some of the largest financial institutions in the US tried to prop it up, it had clearly lost the confidence of depositors. By last weekend, it could no longer survive by itself, and the Federal Reserve arranged a quick sale to JPMorgan, a
How to prevent a new banking crisis
May 05, 2023
2 minutes
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