JP Morgan always makes a profit or uses tax payers money to pay. That said, let’s see the ceo or cfo go to the big house the the keys toss away.
In turn, the deal fully protects depositors at First Republic, who immediately became customers of JPMorgan Chase. To achieve the rescue, however, a federal agency provided $50 billion in financing to JPMorgan Chase, setting off questions about whether the government had orchestrated a bank bailout.May 1, 2023
JPM is paying about $10.6 billion, but is getting $13 billion from the FDIC, or in other words, we the taxpayer,” E.J. Antoni, an economic expert at the Heritage Foundation, said. "That means JPM already booked a profit on the deal. Another $50 billion is available from the FDIC to JPM if losses from First Republic’s assets continue to mount. To cover the existing and any future losses, the FDIC will levy a ‘special assessment’ on banks that is passed to customers.”
JP Morgan always makes a profit or uses tax payers money to pay. That said, let’s see the ceo or cfo go to the big house the the keys toss away. In turn, the deal fully protects depositors at First Republic, who immediately became customers of JPMorgan Chase. To achieve the rescue, however, a federal agency provided $50 billion in financing to JPMorgan Chase, setting off questions about whether the government had orchestrated a bank bailout.May 1, 2023 JPM is paying about $10.6 billion, but is getting $13 billion from the FDIC, or in other words, we the taxpayer,” E.J. Antoni, an economic expert at the Heritage Foundation, said. "That means JPM already booked a profit on the deal. Another $50 billion is available from the FDIC to JPM if losses from First Republic’s assets continue to mount. To cover the existing and any future losses, the FDIC will levy a ‘special assessment’ on banks that is passed to customers.”
Corrupt to the core.