This situation is another example of the consolidation of wealth in the US, and only the largest banks can play the game. Instead of regulators and executives looking for band-aid solutions to serious problems, they should be enhancing and executing regulations to avoid these crises. This deal is a disservice to the country.
JPMorgan has saved the day again. With panic causing a major dip in the stock market, the bank was able to buy First Republic and help avert another SVB-like crisis. Anyone with an interest in the economy should be thankful JPMorgan cleaned up this mess.
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