Washington turns to Wall Street to help rescue dying bank
The anxiety this week centered on First Republic Bank in San Francisco, which was once the envy of the banking sector, with its wealthy and well-traveled clientele
Fed lent $300B in emergency funds to banks in the past week
Nearly half the money went to holding companies for two major banks that failed over the past week, Silicon Valley Bank and Signature Bank
Big banks create $30 billion rescue package for First Republic
The effort seeks to stop the California-based bank from becoming the third bank to fail in less than a week. Shares of First Republic had fallen sharply this week, dropping 60% on Monday alone
Stocks fall on Wall Street on renewed fears about banks
Credit Suisse has been fighting troubles for years, including losses it took from the 2021 collapse of investment firm Archegos Capital
Silicon Valley Bank’s demise disrupts the disruptors in tech
AP|
Entrepreneurs who had deposited all their startups’ money in Silicon Valley Bank are now realizing it makes more sense to spread their funds across several institutions
JPMorgan sues former exec over ties to Epstein sex abuse
The New York bank seeks to hold Staley personally liable for any financial penalties that JPMorgan may have to pay
Jamie Dimon, the world’s most powerful banker: ‘Things can get much worse. We are facing very serious problems’
He has helmed JPMorgan Chase for 16 years and is the only major bank chief to have survived the 2008 financial crisis. Now he is warning people to brace themselves for what may come