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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding
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From: Elroy Jetson3/16/2023 8:42:00 PM
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$50 billion to stabilize Credit Suisse, total assets of $574 billion at the end of 2022 — down 37% from $912 billion at the end of 2020.

But today it took only $30 billion from eleven of America's largest banks to stabilize First Republic with a mere $181 billion of assets, a bank less than 1/3 the size of Credit Suisse - but with much larger problems.

First Republic was acquired by Merrill Lynch in 2007 and in 2010 sold off by Bank of America to a group of private investors including Colony Capital's Trump backer Tom J. Barrack, Jr., General Atlantic, and chairman James Herbert and former COO Katherine August DeWilde, for approximately $1 billion, to which they added an additional $800 million in capital. This group took the bank public to raise an additional $280 million in capital. - en.wikipedia.org

In only 13 short years the woke Trumpist leadership of First Republic used their $2 billion base to dig a $30 billion deficit. Actually losing money faster than Trump was able to himself!

How? Once again, this recklessness was enabled by Don Trump removing these "smaller banks" from FDIC stability requirements.

A little favor for Tom Barrack Jr who organized Trump's poorly attended inaugural party.

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