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Why should First Republic get destroyed by a panic because they are headquartered in San Francisco? By all accounts they are a well run bank.
by Spooky23 4y ago
Why should First Republic get destroyed by a panic because they are headquartered in San Francisco? By all accounts they are a well run bank.
- FollowingTheDao 4y agoI hear this often, that this only happened because of "panic". But people panicked for a reason, and a good one. You know, the way the economy works is that the last one out is the sucker. Well run banks are not downgraded by Fitch and the S&P (Wednesday) citing risks to its funding and liquidity.
- Spooky23 4y agoBanking benefits society when it’s stable. We should be ensuring that regulation is in place to prevent irresponsible risks such as the behavior of SVB so that banks like First Republic, which if anything is super conservative, aren’t driven out of business for no reason. A world where banking consists of Chase, BoA, etc is not a good one.