Bailout fail!
Consequences of treating the symptoms and not the cause.
Going bankrupt slow, then allofasudden!
Another bank went bankrupt in the US. Shares of American bank First Republik fell by almost 50 percent.
By the time the stock exchange closed, it was trading at the lowest level in history – about $8.1 per paper.
The decline of First Republic began after the failure of… pic.twitter.com/esgZANpcDT
— Sprinter Press (@SprinterPress) April 26, 2023
https://twitter.com/ODELL/status/1650973338196492288?ref_src=twsrc%5Etfw
FRC has over $200 billion in assets. The FDIC's $128b deposit insurance account is basically empty.
So what happens now… https://t.co/oD1wk1AUll
— Financelot (@FinanceLancelot) April 26, 2023
BREAKING: First Republic Bank is expected to be seized by the US government
— The Spectator Index (@spectatorindex) April 25, 2023
The only question remaining about First Republic Bank $FRC is whether or not they make it to Friday when banks are usually closed by the FDIC.pic.twitter.com/wGTYC2mYwi
— Wall Street Mav (@WallStreetMav) April 25, 2023
The man is an absolute LEGEND 😮#JimCramer – Inverse Cramer pic.twitter.com/Vzh6hoYTdD
— Wall Street Mav (@WallStreetMav) April 25, 2023
Trying to force a bailout hey? 🚨 🤡 🌎
They took the risks and the bonuses, now demand public save them. Same old playbook. pic.twitter.com/5vIFRdc2ol
— Wall Street Mav (@WallStreetMav) April 26, 2023
h/t DOORBERT