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But in the long run, Jeanna, these banking companies, the a few of them that we’ve been referring to, created choices that caused their very own failures. And among the popular threads for all a few of them was they had been centered on prospects, depositors, who experienced some huge cash To place in these financial institutions.

And 1st Republic has a lot of shared attributes Using these other banking institutions. And What exactly we start to see is admittedly an exodus of deposits from First Republic.

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Jeanna, where by will we now go from here? Since this now appears like a disaster that in terms of dollars, is critical.

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Now, does that necessarily mean that The federal government — and by that, I indicate you and me, the taxpayer — are actually subsidizing JPMorgan Chase’s acquire of Initially Republic?

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