JPMorgan, PNC Bid to Buy First Republic as Part of FDIC Takeover

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JPMorgan, PNC Bid to Buy First Republic as Part of FDIC Takeover

The Wall Street Journal2023-04-29

Seizure and sale of First Republic could come as soon as this weekendFirst Republic Bank customers pulled around $100 billion in deposits in a matter of days. PHOTO: LOREN ELLIOTT/REUTERSBig banks ...

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LTKalien
·2023-04-29
Blood in the water, here comes the shark. FDIC takes over all the toxic debts, American tax payers pays for those. Not so great for First Rep shareholders and maybe put options holders' too.
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Swordmerlin
·2023-04-29
Ok
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LSLi
·2023-04-29
wow
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druvaciam
·2023-04-29
What price they will pay for stocks? Will it go to $0?
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- paul55555:
  Probably something similar to UBS paying for credit Suisse. A token amount
  2023-04-29
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PHOTO: LOREN ELLIOTT/REUTERSBig banks including JPMorgan Chase & Co. and PNC Financial Services Group Inc. are vying to buy First Republic Bank in a deal that would follow a government seizure of the troubled lender, according to people familiar with the matter.A seizure and sale of First Republic could come as soon as this weekend, the people said.The San Francisco-based bank has teetered for weeks following the March 10 failure of fellow Bay Area lender Silicon Valley Bank. The SVB meltdown spurred panicky First Republic customers to pull around $100 billion in deposits in a matter of days. 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FDIC takes over all the toxic debts, American tax payers pays for those. Not so great for&nbsp;First Rep shareholders and maybe put options holders' too.&nbsp;","text":"Blood in the water, here comes the shark. FDIC takes over all the toxic debts, American tax payers pays for those. Not so great for First Rep shareholders and maybe put options holders' too.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947171683","repostId":2331683138,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9947173966,"gmtCreate":1682734657255,"gmtModify":1682734660760,"author":{"id":"3582338758553096","authorId":"3582338758553096","name":"Swordmerlin","avatar":"https://community-static.tradeup.com/news/1f836008e90c916e86b10677e7b767fd","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3582338758553096","authorIdStr":"3582338758553096"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947173966","repostId":2331683138,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9947179787,"gmtCreate":1682733895449,"gmtModify":1682733899297,"author":{"id":"3581293549512826","authorId":"3581293549512826","name":"LSLi","avatar":"https://static.tigerbbs.com/1cd86d2afeac545f926b9576638b55a9","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3581293549512826","authorIdStr":"3581293549512826"},"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947179787","repostId":2331683138,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9947179552,"gmtCreate":1682733783077,"gmtModify":1682733788459,"author":{"id":"4088707402306530","authorId":"4088707402306530","name":"druvaciam","avatar":"https://static.tigerbbs.com/5c3fb456a34258529f2ed7b7f945e0e8","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":6,"crmLevelSwitch":1,"idStr":"4088707402306530","authorIdStr":"4088707402306530"},"htmlText":"What price they will pay for stocks? Will it go to $0?","listText":"What price they will pay for stocks? Will it go to $0?","text":"What price they will pay for stocks? Will it go to $0?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9947179552","repostId":2331683138,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":106339746,"gmtCreate":1682735484169,"gmtModify":1682735493613,"authorId":3582246479396497,"author":{"id":3582246479396497,"idStr":"3582246479396497","authorId":3582246479396497,"name":"paul55555","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":7,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9947179552,"type":1,"supId":0,"prevId":0,"content":"Probably something similar to UBS paying for credit Suisse. A token amount","text":"Probably something similar to UBS paying for credit Suisse. A token amount","html":"Probably something similar to UBS paying for credit Suisse. A token amount"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":53,"commentSize":4,"repostSize":5,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}