82 The US banking system is so fucked that the 13th largest bank is about to go under and nobody is surprised. First Republic Bank had $200B in deposits in the fall, now they are worthless. (media.kotakuinaction2.win) posted 3 years ago by BidenIsAGroomer 3 years ago by BidenIsAGroomer +82 / -0 35 comments download share 35 comments share download save hide report block hide replies
Had to check, my bank just dropped it's worth by $60 Billion. That's scary
They normally COMPLETELY wipe out shareholders when they do something like this.
In Europe they also wiped out credit suisse’s AT1 bondholders.
But even with those losses the government/fed has to print a ton of money to keep these banks operating. Its like we learned nothing from 2008.
The government learned it worked.