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One of the Largest Banks in the United States is On the Verge of Going Under
by Michael Snyder The Economic Collapse Blog
Is another domino about to fall? Our system was greatly shaken when Silicon Valley Bank and Signature Bank suddenly collapsed, but we seem to have weathered that storm. But what will happen if an even larger bank goes under? As of March 31st, First Republic had approximately 290 billion dollars in assets, and that makes it much larger than Silicon Valley Bank was when it finally imploded. A 30 billion dollar rescue plan that was hastily put together last month was supposed to stabilize First Republic, but that hasn’t worked. On Tuesday, First Republic shares fell by about 50 percent after the public learned that “customers withdrew more than $100 billion during last month’s crisis”…