The Executives Who Got Rich While Their Banks Collapsed
This past weekend, California’s financial regulator seized the midsize First Republic Bank (assets: $229.1 billion) and turned it over to the Federal Deposit Insurance Corporation. The FDIC, in turn, conducted a hasty auction and sold the bank to J.P. Morgan Chase (assets: $3.7 trillion). As Liam Neeson observes in Star Wars Episode One:…
bubmagMay 2, 2023