[ad_1]
by Jshbone12
Large banks should come collectively to avoid wasting FRC. It’s FRC’s greatest hope at stopping collapse. Nonetheless the Australian Monetary Evaluate printed this MASSIVE smoking gun and no person is speaking about it:
“executives at 5 of the largest 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 might imply paving the best way for traders or a competitor to scoop up the agency at a discount worth.
One expressed a willingness to take part – provided that regulators pressured the group to take motion.
A number of banks would favor that, if it turns into needed, the FDIC seize First Republic and promote it off. Such a decision, they stated, could be cleaner, even when banks lose cash. Some have already taken reserves.”
The federal government has already stated they won’t assist in rescue. Large banks apparently are unwilling to assist as nicely. The one doable 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 academic functions. Don’t make any funding choices primarily based 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.
[ad_2]
Source link
