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First Republic was rescued by rivals. Silicon Valley Bank was abandoned by its friends.

Por: MarketWatch Politics March 18, 2023

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The nation’s banking regulators issued a statement praising the rescue package: “This show of support by a group of large banks is most welcome, and demonstrates the resilience of the banking system,” Treasury Secretary Janet Yellen, Acting Comptroller of the Currency Michael Hsu, Federal Reserve Chair Jerome Powell and FDIC Chairman Martin Gruenberg said in a joint statement. The $30 billion bet on First Republic — to prevent it from... + full article



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