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yort 2y ago

can someone explain to me the money that FDIC / any gov agency gave to JP for their acquisition of first republic?

like they got a loan from the FDIC, right? but how are they “sharing the losses with FDIC” (which is what i heard)?

and how THE FUCK do you acquire a dying bank and then expect to profit? confidence game?

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hh 2y ago

None of those small details matter. If it takes money, they just print it and find a way to syphon it where they want. The point is - they are going to eat up as many "small" banks as possible, until only the five or six macrobanks directly embedded in the State apparatus are left standing.