As First Republic Bank’s stock price sank
A run on deposits by depositors putting it into the tank
$30 billion deposited last month by major banks to calm the
run
Evaporated quicker than a puddle of water in the Death Valley
Sun
Before the weekend is over look to the 13th
largest bank to be seized
Paying too much for deposits making too many loans on its
last wheeze
Feds tried and failed to find a buyer
Only alternative is to let bank expire
Shareholders will be wiped out
Depositors over $250K may be out scout
A good number of its employees will out on the street
What happens when unsound banking practices cause it to a
run meet
Look for Warren and her leftist minions to complain
That the feds did not unsound practices pull back on the reins
If yearend bonuses were paid to executives look for cries to
claw back
How many more banks are barreling down the seizure tracks?
Cruz’s bill to abolish the Consumer Financial Protection Bureau
With this closing and maybe more coming may have been hit by
a fatal blow
© 4/28/2023 Michael P. Ridley aka The Alaskanpoet
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