by Jshbone12

Big banks must come together to avoid wasting FRC. It’s FRC’s best hope at stopping collapse. Nonetheless the Australian Financial Review published this MASSIVE smoking gun and no one is talking about it:

“executives at five of the largest banks, speaking on the condition they not be named, dismissed the notion of once more banding together to prop up First Republic, especially when it could mean paving the best way for investors or a competitor to scoop up the firm at a bargain price.

One expressed a willingness to participate – provided that regulators forced the group to take motion.

Several banks would like that, if it becomes obligatory, the FDIC seize First Republic and sell it off. Such a resolution, they said, can be cleaner, even when banks lose money. Some have already taken reserves.”

The federal government has already said they are going to not aid in rescue. Big banks apparently are unwilling to assist as well. The one possible end result is a seizure by the FDIC this weekend.

I’m jacked to the tits with FRC puts: imgur.com/gallery/4itGe9O

Article reference: www.afr.com/corporations/financial-services/first-republic-s-fate-becomes-game-of-chicken-20230427-p5d3qx

Disclaimer: This information is just for educational purposes. Don’t make any investment decisions based on the knowledge in this text. Do you own due diligence or seek the advice of your financial skilled before making any investment decision.