The #firstrepublicbank -> #chase conversion continues on its smooth trajectory. They apparently just prematurely shut down a whole bunch of atm cards before issuing replacement cards. "1 business day" to restore them, which means next week. Banking IT - great work if you can get it. You get the weekends off.

FYI #FirstRepublicBank no longer exists. It was seized & sold by regulators last yr.

#MichaelCohen’s very direct involvement is now center stage.

Do you know someone named Michael Cohen?” #Mangold asks Farro.

“Yes I do,” Farro replies.

Of note, a 2018 WSJ reported that First Republic Bank filed a #SAR (suspicious activity report) relating to the Cohen money.

#law #Trump #TrumpTrial
https://www.wsj.com/articles/trump-lawyers-payment-to-porn-star-was-reported-as-suspicious-by-bank-1520273701

#FirstRepublicBank: The second largest crash in #US #history, another example of #bailout
https://peoplesdispatch.org/2023/05/03/first-republic-bank-the-second-largest-crash-in-us-history-another-example-of-bailout/

Elizabeth Warren tweets:

If bank executives load up on risk and succeed, they get rich. If they load up on risk and fail, they still get rich, even if they tank the whole economy. So let’s change those incentives. Let’s pass my bipartisan bill to claw back executive pay and bonuses after bank failures.

#SVB #FirstRepublicBank
https://twitter.com/ewarren/status/1653444268554321941

Banking system safe
Government ensures all safe
Depositors secure

#banking #fdic #jpmorgan #firstrepublicbank #haiku #poetry

https://www.msnbc.com/msnbc/watch/biden-assures-that-all-depositors-from-first-republic-bank-will-be-protected-172062789560

#crypto #bitcoin #firstrepublicbank #banks #finance #humor #funny #meme #btc #eth #beyourownBank #cryptoReality

#Dow Plunges 500 Points following #FirstRepublicBank Collapse as #WallStreet Awaits #Fed Decision: https://www.cnbc.com/2023/05/01/stock-market-today-live-updates.html

#FirstRepublicBank #JPMorgan advises bank before collapse, collects a £2bn fee for admin,takes over after collapses with $50bn govt credit line and loss sharing. A web of opaqueness to conceal a shareholder wipe out, engineered by an inglorious global financial system. Source:FT

Third bank taken over
FDIC helps out the customer
JPMorgan gains one

#firstrepublicbank #fdic #jpmorgan #banktakeover #haiku #poetry

https://www.nbcnews.com/business/business-news/first-republic-bank-fdic-takeover-sold-jp-morgan-rcna81437

#FirstRepublicBank becomes the 2nd largest ever US bank failure, chart @business https://cutt.ly/w5LK8Me

Welp, I guess we have a new bank now.

Chase.

Meh. #FirstRepublicBank

Another one??

Are US bank failures going the way of our mass shootings?

"Monday’s shutdown marks the nation’s second-largest bank failure — First Republic Bank had nearly $230 billion in assets last month — eclipsing the Silicon Valley Bank collapse."

THREE OF THE FOUR LARGEST BANK FAILURES IN US HISTORY HAVE TAKEN PLACE OVER THE LAST 2 MONTHS.

#firstrepublicbank #banking

https://thehill.com/business/banking-financial-institutions/3982011-first-republic-bank-collapse-spurs-fears-for-banking-system-broader-economy/

The Associated Press: #FirstRepublicBank seized, sold to JPMorgan Chase https://apnews.com/article/first-republic-bank-silicon-valley-fdic-5ab48702b7136d42f73ac13e0a20955d

Regulators took possession of First Republic, resulting in the third failure of an American bank since March

JPMorgan Chase, already the largest U.S. bank by several measures, emerged as winner of the weekend auction for First Republic. It will get all of the ailing bank’s deposits and a “substantial majority of assets,” the New York-based bank said.

#FirstRepublicBank
#JPMorganChase
#LockharTVMedia

Sounds to me like bankers don't know how to manage their money. Sounds to me like they might need to take in some roommates or maybe stop buying coffee out and buy fewer video games.

Sounds to me like they need to grow up and assume some real responsibility in the world.

#FirstRepublicBank

My commentary on today’s rescue of #FirstRepublicBank. Spoiler alert: #Socialism for big business and wealthy individuals, harsh capitalism for everyone else. #FDIC #JPMorgan #Kleptocracy

https://www.linkedin.com/posts/activity-7058795753468502017-4mkS?utm_source=share&utm_medium=member_ios

#FirstRepublicBank is seized and sold to #JPMorgan – 2nd largest US bank failure follows big deposit outflow, chart @bloombergtv

JPMorgan Chase to Take Over First Republic Bank https://politicaliq.com/2023/05/01/jpmorgan-chase-to-take-over-first-republic-bank/ #JPMorgan #Chase #FirstRepublicBank #FirstRepublic #Banking #Bank #politicaliq #news #politics