https://seekingalpha.com/article/4598591-first-republic-bank-jpmorgan-comes-to-rescue
8 replies (most recent on top)
This sounds like WaMu - The Sequel.
Layoffs will be happening just dont have a date from any inside intel.
Lay offs will be coming. Only keeping top producers due to the losses. FRB knew they were offering low rates below the market. They were going to get sold initially r two years ago until they saw the balance sheet and knew they were going to fail. Fck em!
More layoffs coming?
The FDIC is assuming up to an 80% share of the losses on the loans/mortgages acquired by JPM. I don’t think the mortgages are gonna be much of a hit to the balance sheet.
What does this mean for mortgage?
Jamie’s a pretty savvy guy, can’t wait to see how he manages this sh-t show
The company we battled and lost to for the last 3 years and now we're bailing them out. Such a joke from a HLA perspective but brilliant for investments ect. Chase is going to phase out mortgages in California