JPMorgan did not assume First Republic’s corporate debt or preferred stock, meaning institutional investors will not be made whole. Common shareholders are to get wiped out, too.
I think over the long term it will work out for $JPM, but I suspect that they would rather not have bought $FRC. Not good, not bad, more meh ¯\_(ツ)_/¯.
This was very insightful Akash, Good coverage that I have not heard from other news outlets.
Thank You... LoL, But not taking your poll on the thought as too,,,,Good, Bad or could it be Mr. Ugly down the road. I say, I am little learly of Mr. JD tho.
First Republic Bank WIPEOUT
I think over the long term it will work out for $JPM, but I suspect that they would rather not have bought $FRC. Not good, not bad, more meh ¯\_(ツ)_/¯.
Excellent write up. You had me hooked from the first sentence...Cheers!
This was very insightful Akash, Good coverage that I have not heard from other news outlets.
Thank You... LoL, But not taking your poll on the thought as too,,,,Good, Bad or could it be Mr. Ugly down the road. I say, I am little learly of Mr. JD tho.
My Name is NoBody, (1vs160)
An extremely useful summary, Akash!
Being bought by Dimon etc, now that’s a poison pill to swallow.