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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]As First Republic was quickly going down in the wake SVB and Signature, the largest banks today came up with their own bailout plan by putting in $30 billion of uninsured deposits.

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[/quote]

Wow what a crock of bs. Did Biden ask the banks to do this to make it seem like he wasn't bailing out the bank of rich idiots? If they think regular people really believe a conglomerate of mega banks want to prop up a small bank because they "value and appreciate small and regional banks" then I don't know what to say about how out of touch this admim must be [/quote]

Pretty sure this was the banks' idea.  They are definitely not altruists, but they know about contagion and are concerned about how confidence in regional banks could spread to them.  Credit Suisse, for example, is a very large (and foreign) bank but jitters in the US bank market, albeit centered on regional banks, has contributed in least in part to ongoing jitters over Credit Suisse.[/quote]

It's not only about worry of a bank collapse bringing down the economy. If the FDIC has to continually step in an guarantee all deposits, then every bank can expect a lot more regulation [/quote]

Yes the healthy banks are running very scared about buckets more in regulation is this isn't stabilized.[/quote]

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