In an unbelievable turn of events the FDIC is taking control of First Republic Bank proving once again that the Democrats are leading our nation into Financial ruin as we dive into the Shocking details behind this massive Bank failure we uncover the Sinister Plot that puts our country and personal Banking future at risk are we witnessing The Democrats deliberate destruction of Our economy stay tuned to find out I'm Gary franchi I want you to stay Ahead of the curve tap subscribe below And enable notifications for the latest News The fdic's seizure of First Republic Bank has shaken the nation to its core The second largest bank failure in U.S History that's right this catastrophic Event raises urgent questions about the Democrats ability to govern and protect Our financial institutions the American People have been betrayed and our Security is now in unprecedented turmoil Under the Democrats watch weeks before Its collapse First Republic Bank lost a Hundred billion dollars in deposits Following the downfall of Silicon Valley Bank an attempt to save the failing Institution a Consortium of banks Provided a 30 billion dollar deposit Ultimately these efforts prove futile And the FDIC sees the bank selling its Assets and deposits to JP Morgan in a
Very controversial move watch It's been with so many different bidders The FDIC in the middle And of course Janet Yellen tell us about It Stork it was a Competiting process this weekend was Fast and furious but yes the news this Morning is that JP Morgan is acquiring First Republic directly from the FDIC Which seized and immediately sold the Faltering Bank this transaction the Result of a competitive bidding process At least according to the FDIC and JP Morgan includes a majority of first Republic's assets including 173 billion Dollars in loans and 30 billion dollars In Securities specific terms for first Republic's underwater assets are not Quite known yet we should learn more About that over the course of the next Few hours but the FDIC and JP Morgan Entered a lost share agreement where They'll basically share in the losses And potential recoveries from some of First Republic's single-family Residential and Commercial loans it Purchased of the former First Republic Bank and JP Morgan will assume about 92 Billion dollars in deposits that Includes the 30 billion in uninsured Deposits that were infused into First Republic by itself and other large banks In March in an effort to prevent any
Contagion effects from the failures of Silicon Valley Bank and Signature Bank As part of this transaction JPMorgan Intends to repay the deposits from its Large banking peers or eliminate them as Part of the consolidation first this Catastrophic failure exposes Democrats Incompetence in managing our nation's Financial systems as the dust settles We're left to question whether This Disaster is the result of gross Irresponsibility or part of a calculated Plan to hand our banks to Chinese Interests either way the Democrats are Clearly unfit to lead our nation during These trying times under their watch our Economies and shambles and our once Trusted financial institutions are now Falling like dominoes with First Republic Bank now in the hands of JP Morgan concerns over the dangerous Centralized banking system are Highlighted how much more will these Elite institutions of mass power before The American people are left with no Choice but to submit to their control Well the Democrats focus on their hidden Agenda our nation's security remains at Risk our banking failure hangs in the Balance and it's the hard-working American citizens who will ultimately Pay the price for this Reckless Governess The Betrayal of the American people by
The Democrats is a harsh reality that Cannot be ignored as more details emerge About this Scandal is becoming Increasingly clear that the Democrats Actions are jeopardizing the very fabric Of our society our economies and tatters Our trust in financial institutions has Been shattered and the prospect of a Brighter future seems more distant with Each passing day The devastating collapse of First Republic Bank is yet another example of The Democrats failure to govern our Nation their hidden agendas and Disastrous policies have pushed our Economy to the brink leaving Americans To suffer the consequences as we Continue to unravel the truth behind This unprecedented banking crisis we Must stand together and demand Accountability from those who have Betrayed our trust the future of our Nation depends on it stay informed and Vigilant as together we fight for the America we deserve Let's continue the conversation in the Comments below for the next News Network I'm Gary franchi Thank you for watching that report if You started to notice that wrinkles Fine Lines bags under your eyes or other Typical signs of aging are appearing More and more frequently in your face Well it may not be the result of the
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