So the customers pulled out their money in droves. It had to sell a bunch of investments that had lost value as interest rates rose. So Silicon Valley, as you’ll remember, had planned pretty poorly for rising interest rates. I think that what happened at First Republic was sort of a slow-motion reaction to what happened at Silicon Valley Bank, that first bank that failed. So tell us about why first Republic Bank ultimately went under.
And it was even bigger as a bank than the previous two that failed. In fact, a third bank, First Republic Bank, collapsed. And after these two banks had failed, Silicon Valley Bank, then a couple of days later Signature Bank, the hope, and I’d say the expectation, was that this crisis might be over. So, Jeanna, another day, another bank failure. Today, I speak with my colleague, Jeanna Smialek, about whether we’re at the end of this banking crisis or the start of a new phase of financial pain. On Monday morning, the federal government took over a third failing bank, this time, First Republic.
michael barbaroįrom “The New York Times,” I’m Michael Barbaro. Please review the episode audio before quoting from this transcript and email with any questions. While it has been reviewed by human transcribers, it may contain errors. This transcript was created using speech recognition software. Now What? The seizing of First Republic by regulators could signal the end of the banking crisis. You will either get kissed or asked out, if you brake this chain you will see a little dead girl in your room tonight.Transcript A Third Bank Implodes. Apperently if you copy and past this to ten comments in the next ten minuets you will have the best day of your life tomorrow. If you don't post this on 11 comments Jerry will 'visit' you his isn't fake. She went to school (She was only 13 years old) and that night she died. Example 2: a girl named Haley read this in the morning and she got scared but she didn't send it. That night while he was in bed he heard something outside of his door. He shut off his computer and went through his day. Example 1: A man named Stewart read this and didn't believe it. He killed them for making him sleep in that house if you don't send this to 11 comments you will die tonight by Jerry. But that night they all died because of their friend. They saw Jerry's corpse and they just left because they were scared.
He was supposed to sleep in the living room they went to the attic They went through every room exept the attic. They had to go inside and search for him. The next day his friends waited for him outside the house. READ ON OR DIE TONIGHT AT 10:35 P.M 9 years ago a person named Jerry got dared to sleep in a house that was believed haunted.
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