The U.S. Federal Deposit Insurance Corporation (FDIC) is preparing to place First Republic Bank (FRC.N) under receivership imminently, a person familiar with the matter said on Friday, sending shares of the lender down nearly 50% in extended trading. The U.S. banking regulator decided the troubled regional lender’s position has deteriorated and there is no more time to pursue a rescue through the private sector
FRC is new focus… very good bank
— Jim Cramer (@jimcramer) March 10, 2023
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.
Seems a bit mean-spirited.
Why would one consider CNBC, Fox, CNN, NYT, etc., as reliable in any technical sense? They’re just influencer blogs that used to be newspapers/ broadcast news, simply parroting and re-posting trends and AP anyway. Are there any real reporters out there anyway?
If it doesn’t have a paid-subscription, it’s entertainment.
Here you go… be Jack’s contrarian!
The FDIC is begging the big banks to buy First Republic. The FDIC reserve fund holds only $123 billion and a bailout of First Republic would take most of that. FDIC declares final bids must be tendered before deadline tomorrow. I may bid one dollar if FDIC kicks in a hundred billion. I am able to risk one dollar because Janet Yellen says the banks are sound, and I trust her that much.
Exactly. I trust her even after she said the inflation was so transitory.
She is just so right all of the rest of the time. Except when she is wrong. Which is most of the time.
well when you have a society that lives sound bite to sound bite and headline to headline why would the government/institution press corp care to post long thoughtful commentary (much less get it reported, much less get it read, much less get it understood, much less get it acted on by voters/ readers). Toss a fish and the rubes gulp and bark.
The only skirt at the Federal Reserve worked her way up the corporate ladder the old fashioned way.
John Cramer has gotten it wrong so many time I honestly do not understand why anyone would still follow him. Could he just be satire?
So you know which stocks to short.
Best economy ever, Jack.
You keep beating Jim Cramer as if he is useless. He’s actually quite useful. We all know that when he endorses something that it means it is going to die.
Hey now. Theranos turned out to be a roaring success for a solid day after he endorsed it.