XPost: talk.politics.misc, alt.politics.usa, alt.politics
XPost: alt.politics.republicans

First Republic ... it was selling at $120 in March, about $1.20
on Friday - a total implosion, bank runs, the whole bit.

News this morning is that JP Morgan has agreed to buy/absorb
this car wreck.

Alas this probably will not be the last of this. A lot of
banks were badly over-extended ... and Biden Admin had been
encouraging banks to offer loans to even iffy start-ups so
long as they claimed to be into something "green". Well, as
expected, most of them crashed and burned.

SVB was maybe the worst case but expect more. If FDIC has to
cover all these then your TAXES will go up next year (or
inflation will take a similar bite as they print fake money
to cover the expenses).

Love Trump or hate him - things were a LOT more stable back
then, even during the whole Covid thing. Stop voting Dem.
If you like all that pain then whip yourself with a
cat-o-nine-tails or cut off a finger or two.

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