Large banks are painting the narrative that they saved the day in this crisis. JP Morgan acquiring First Republic was entirely for their own benefit. They profit $5 billion in 5 years and the FDIC covers $13 billion in losses. Why would large banks ever want the crisis to end?

How have recent 🏦 failures impacted community banks??

Is the movie “It’s a Wonderful Life” a Christmas movie? And does a movie in black and white automatically make it bad?? 🎬 Questions we ponder on the first episode.

New episode coming out tomorrow. #FRB

It happened again…let’s talk about it. Link in the bio.

AVAILABLE NOW. A look back at where First Republic Bank stood last week. open.spotify.com/episode/2o3OMG…

Another Bank Crash? First Republic Bank, Pt. 1 (Recorded April 25th, 2023) youtu.be/zKpexsW2WYc via YouTube

Currently, JP Morgan controls ~15% of deposits in the US. With their acquisition of First Republic, they are adding another $100 billion. This is on top of the flight of deposits from small to large banks. By the end of this crisis, JP Morgan could control 20%+ of US deposits.

Up until this weekend, the rule was that a bank with 10%+ of US deposits can’t acquire another deposit accepting bank. JP Morgan bypassed this rule. It should be interesting to see how the rules change next. Follow us The Kobeissi Letter for real time analysis as this develops.

Total US Deposits by Bank: 1. JP Morgan: $2.4 trillion 2. Bank of America: $2.0 trillion 3. Wells Fargo: $1.4 trillion 4. Citibank: $1.3 trillion 5. US Bank: $500 billion 6. PNC Bank: $450 billion 7. Truist: $420 billion 8. Capital One: $350 billion 9. Goldman Sachs: $350

Listen Now: open.spotify.com/episode/3vXsIA…

Pt. 2 coming tomorrow. We take a look at FRB post FDIC takeover.

OUT NOW PT. 2 open.spotify.com/episode/3vXsIA…

Link in Bio. Give it a listen!

open.spotify.com/episode/729Cxs…

Thank you!!

open.spotify.com/episode/5CHA5N…

Check out the latest Episode!!

Prices are up and don’t seem to be stopping. What can be done and how is the effecting out daily lives??