First Republic Bank is the third bank to fail since March 2023. CNN's Christine Romans breaks down its failure, its acquisition by JPMorgan Chase & Co. and what the forecast is now saying for the financial sector. #CNN #News
First Republic becomes second-largest bank failure in US history
Deregulation of industries was/is a disastrous decision. Consequences!
@Melvin Campbell Biden is President….FOOL 😂
@chad l Your Gender Disforia is Real
“From that time Jesus began to preach, and to say, Repent: for the kingdom of heaven is at hand.” Matthew 4:17
“Ye have heard that it hath been said, An eye for an eye, and a tooth for a tooth: But I say unto you, That ye resist not evil: but whosoever shall smite thee on thy right cheek, turn to him the other also.” Matthew 5:38-39
“And when thou prayest, thou shalt not be as the hypocrites are: for they love to pray standing in the synagogues and in the corners of the streets, that they may be seen of men. Verily I say unto you, They have their reward. But thou, when thou prayest, enter into thy closet, and when thou hast shut thy door, pray to thy Father which is in secret; and thy Father which seeth in secret shall reward thee openly.” Matthew 6:5-6|
The problem is that these banks have no sense of risk management. Stop treating them like adults , treat them like 4 year olds who want their ice cream bars. Regulate them so they cant harm themselves.
@DarkGardener I’m not suggesting the government take over the banking industry but if more regulation is required to prevent these failures then I’m for it. Let’s face it, if major banks continue going under then the economy is screwed.
“From that time Jesus began to preach, and to say, Repent: for the kingdom of heaven is at hand.” Matthew 4:17
“Ye have heard that it hath been said, An eye for an eye, and a tooth for a tooth: But I say unto you, That ye resist not evil: but whosoever shall smite thee on thy right cheek, turn to him the other also.” Matthew 5:38-39
“And when thou prayest, thou shalt not be as the hypocrites are: for they love to pray standing in the synagogues and in the corners of the streets, that they may be seen of men. Verily I say unto you, They have their reward. But thou, when thou prayest, enter into thy closet, and when thou hast shut thy door, pray to thy Father which is in secret; and thy Father which seeth in secret shall reward thee openly.” Matthew 6:5-6|
They are private enterprises that choose their way of doing business. You can invest in them or not. Your decision. Clearly many folks thought it was worth way over $100 per share at some point. As far as depositors, no one lost a penny. What is your point?
Keep putting money in the hands of fewer and fewer people. What could go wrong?
when exactly will these irresponsible bankers be held criminally responsible ?
Never
Never.
No. But keep voting red and see if it improves.
Wouldn’t surprise me if the Executives awarded themselves huge pay rises and bonuses with the cash injection. Such is the shameless greed.
Of course they did 😂
@Daily Content God has nothing to do with it
“From that time Jesus began to preach, and to say, Repent: for the kingdom of heaven is at hand.” Matthew 4:17
“Ye have heard that it hath been said, An eye for an eye, and a tooth for a tooth: But I say unto you, That ye resist not evil: but whosoever shall smite thee on thy right cheek, turn to him the other also.” Matthew 5:38-39
“And when thou prayest, thou shalt not be as the hypocrites are: for they love to pray standing in the synagogues and in the corners of the streets, that they may be seen of men. Verily I say unto you, They have their reward. But thou, when thou prayest, enter into thy closet, and when thou hast shut thy door, pray to thy Father which is in secret; and thy Father which seeth in secret shall reward thee openly.” Matthew 6:5-6|
It’s basically guaranteed at this point.
@Daily Content Government holding your money? Huh? This entire topic is about BANKS holding your money. It sounds like you’ve confused your anti-government political rhetoric with banking. Even more, … in this case, … it IS the government backing of the banks that made everything work out. It sounds like you should be a fan of the governments role here. Oh that’s right: …. We understand, you’re just trying to be political rather than intellectual.
Someone thought it was a great idea to burn lots of government controls on industries like trains carrying hazardous waste.
My Best wishes for your work Love and Peace to your family !
🐴
“From that time Jesus began to preach, and to say, Repent: for the kingdom of heaven is at hand.” Matthew 4:17
“Ye have heard that it hath been said, An eye for an eye, and a tooth for a tooth: But I say unto you, That ye resist not evil: but whosoever shall smite thee on thy right cheek, turn to him the other also.” Matthew 5:38-39
“And when thou prayest, thou shalt not be as the hypocrites are: for they love to pray standing in the synagogues and in the corners of the streets, that they may be seen of men. Verily I say unto you, They have their reward. But thou, when thou prayest, enter into thy closet, and when thou hast shut thy door, pray to thy Father which is in secret; and thy Father which seeth in secret shall reward thee openly.” Matthew 6:5-6|
@Gospel of Jesus Christ what this has to do with anything?
Banks really need more oversight. This whole, “let’s gamble” notion of banking is terrifying. There are no consequences because they learned in 2008 that no matter how big they fail, the feds will bail them out.
@Nicholas Gallanis which is kinda disgusting Because ultimately we are the ones actually paying anf loosing our money
It’s pathetic that corporate America can buy Banks but can’t pay taxes.
@avarmauk people that are on ebt card get free money back too
Have money to give Zelensky but no money to improve infrastructure at home….poor American 😅
DJT signed a Bill in 2018 for loosening bank regulations, which contributes to this. When banks are deregulated, the first thing they do is write themselves $millions in bonuses and act like a bunch of giddy five year olds with everybody elses money. Every. Single. Time.
This is why people should go to a credit union. My credit union is Digital Federal Credit Union aka DCU and they are outstanding. They are owned by its members (“Depositors). They are very healthy, very well managed and are in all 50 states. They are part of a surcharge free ATM network that has more ATMs than Bank of America. They pay 6.17% interest on the first $1,000.00 in the savings accounts and have pretty good auto loan rates too.
Everything is going to be sour then Democrats, liberals and progressives blame Trump….😂😂😂😂😂
It’s amazing how the government can concoct such deals over the weekend while during the week, it’s dysfunctional!
@Keith Ferguson when the Fat Lady sings
But shouldn’t we be grateful that the government backing DID support this deal. It sounds like we should be fans.
@Wanna Montana, Not sure what you mean by grateful! If premiums were paid to insure your deposit up to $250,0000, why should a depositor of $10,000,000 recover the remaining $9,750,000 when no insurance premiums were ever paid on the excess amount?
@B. N. Faraj Aggggggh, … now it’s about premiums. In the original comment it looks like you are saying that the weekend government deals are a good thing, as opposed to dysfunction during the week. Generally people view the outcome as favorable, compared to the outcome of bankrupting many smaller businesses whose deposits for payroll are a hunk of what was backed by the government intervention. Sure press were not paid, … but still compare it to the alternative for these business depositors and their employees.
Gee, it looks like we should have kept those banking regulations in place as well!
Wouldn’t the bank’s administrators realize this would be a problem when interest rates went up and make changes to their assets to compensate? Everyone knew the federal bank was raising interest to fight inflation and that the federal bank raised interest rates in steps.
How much did the owners of this bank steal from their own bank before its crash and bail out. Why aren’t people going to jail for illegal activities in all 3 banks that have crashed?
The question is how this can even be allowed to occur ??? People need to go to jail for this.
My Best wishes for your work Love and Peace to your family !
Go to jail for what, … poor business decisions? It’s simply bad business asset matching, … not illegal activity.
Beyond bad. It’s reckless financial management.
So the Fed comes up with all sorts of rules to rein in the “too big to fail” banks then when a smaller bank fails they give it to the big banks making them bigger.
Lies again? Paramount Pictures Pay Pal
Centralization of U.S currency this is the start of the great reset.
@N.M.B 😂sadly yes
Sooooooo, what would you rather have happened? Bank failures and retail customers harpooned?
@Wanna Montana I would prefer if banks were competent in handling other people’s money. If I wanted risk I’d play the stock markets. A bank should be the safest place to put your money.
I like how they emphasize that the banking sector is healthy. It is not. Some people understand the signs and will continue to pull out their $$$ out of banks, particularly if their deposits exceed the FDIC threshold. Stay tuned. This is only getting started
There’s starting to be a trend that if you see a regional bank that has a sports stadium sponsorship, you might want to short that stock
The CEOs of every one of those banks had a seat on the so-called “oversight committee” that “regulates” banks.
It was a very bad decision to remove the Glass-Steagall Act in the late 1990s, which led to the spectacular failure of huge banks during the financial crisis of 2007–2008. To prevent another disaster, Dodd-Frank and this statute both need to be reestablished right away. What happened with these banks is only the beginning of what will happen if nothing is done to address the current situation.
Are you referring to the same Dodd that’s responsible for Citizens United? Terre Haute Dodd?
@Siena Hoyt – The rates are very low to start. Banks have other problems.
@Siena Hoyt – The rates are very low to start. Banks have other problems.
“From that time Jesus began to preach, and to say, Repent: for the kingdom of heaven is at hand.” Matthew 4:17
“Ye have heard that it hath been said, An eye for an eye, and a tooth for a tooth: But I say unto you, That ye resist not evil: but whosoever shall smite thee on thy right cheek, turn to him the other also.” Matthew 5:38-39
“And when thou prayest, thou shalt not be as the hypocrites are: for they love to pray standing in the synagogues and in the corners of the streets, that they may be seen of men. Verily I say unto you, They have their reward. But thou, when thou prayest, enter into thy closet, and when thou hast shut thy door, pray to thy Father which is in secret; and thy Father which seeth in secret shall reward thee openly.” Matthew 6:5-6|
If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There’s always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.
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