Credit Susie’s too |
I love this typo. |
Big banks band together to bail out First Republic, injecting $30 billion into the faltering bank.
https://www.citigroup.com/global/news/press-release/2023/bank-of-america-citigroup-jpmorgan-chase-wells-fargo-goldman-sachs-morgan-stanley-bny-mellon-pnc-bank-state-street-truist-and-u-s-bank-to-make-uninsured-deposits-totaling-30-billion-into-first-republic-bank |
Credit Susie was my girl for a while, but at some point she didn’t care to take my deposits. |
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Anyone here care to disabuse me of the idea that the Fed’s new Bank Term Funding Program is a bailout. Cheap credit for the *face value* of treasury and agency collateral! |
UBS is in talks about acquiring her. |
Good thing they had a fishing industry to fall back on. |
It's a bail out. Regardless of what they say. |
Good. “Bailouts” preserve hundreds of thousands of jobs. |
But, Yellen seemed to say that smaller banks would not get the same treatment. Lankford's questioning was disturbing. |
Bailouts preserve the wealth and power of society’s worst. |