by Jshbone12
Massive banks should come collectively to save lots of FRC. It’s FRC’s finest hope at stopping collapse. Nevertheless the Australian Monetary Overview revealed 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 buyers or a competitor to scoop up the agency at a discount value.
One expressed a willingness to take part – provided that regulators compelled the group to take motion.
A number of banks would favor that, if it turns into mandatory, 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 support in rescue. Massive banks apparently are unwilling to assist as effectively. The one potential end result 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 based mostly on the knowledge on this article. Do you personal due diligence or seek the advice of your monetary skilled earlier than making any funding resolution.
