The question now is simple – will they make it to the close without the FDIC stepping in?
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Bear in mind that the ‘Big Banks’ have $30 billion in deposits at the embattled bank… so the FDIC has a problem already.
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Finally, First Republic Bank’s membership in the S&P 500 Index could be in jeopardy after the troubled bank’s stock set a new all-time low on Wednesday that briefly pushed its market capitalization below $1 billion.
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Even those who were taught common core math know that a $30 billion debt to the “Big Banks” is a problem when the debtor bank’s market capitalization is not even $1 billion.
David DeGerolamo
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Another one bites the dust
Another one bites the dust
And another one gone, and another one gone
Another one bites the dust
Hey, I’m gonna get you too
Another one bites the dust