MM111: The US banking crisis claims another victim
Market Maker
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The First Republic Bank Saga
The FDIC are now looking at $13 billion potential loss overall on this first republic bank saga. I think the regulatory failure here isn't allowing JP Morgan to sneak through and acquire someone, the bigger regulatory failure is the lack of oversight and stress testing for smaller banks. And so well intended regulations sometimes, you know, have to be circumnavigated because there's a bigger crisis at hand. That's why I say that this is definitely not 2008. We're not going to have a global financial crisis here.
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