JPMorgan, PNC Submit Bids to Buy First Republic AFTER the FDIC Shuts Down First Republic Bank
JPM or PNC expected to get 95% to 99% discount off what First Republic was worth 6 wks ago ..... US taxpayers expected to pay $75 billion to $400 billion in FDIC bail out losses/costs.... DEVELOPING
JPMorgan, PNC Submit Bids to Buy First Republic in Government-Led Sale
FDIC is expected to name a winner before First Republic opens Monday morning
and Nick Timiraos
Updated April 30, 2023 10:09 pm ET
First Republic Bank customers pulled around $100 billion in deposits in a matter of days. PHOTO: LOREN E…
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