Another Bank Seized & Sold

Motley Fool Hidden Gems Investing

The Motley Fool

Investing, Business

4.3 • 3.1K Ratings

🗓️ 1 May 2023

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

Three of the four largest bank failures in U.S. history have happened in the past two months. (00:21) Bill Barker discusses: - Regulators seizing First Republic Bank and selling it to JP Morgan Chase - CEO Jamie Dimon's comments about the state of play in banking - Norwegian Cruise Line beating low expectations in the 1st quarter - A plot point in last night's episode of "Succession" (15:16) Alison Southwick and Robert Brokamp continue their conversation with Motley Fool senior analyst Bill Mann about the "new normal" of investing in China. Investments discussed: JPM, NCLH, CCL, DIS, PG, AAPL, BABA, VTI, VWO, FRDM Host: Chris Hill Guests: Bill Barker, Alison Southwick, Robert Brokamp, Bill Mann Producer: Ricky Mulvey Engineers: Dan Boyd, Rick Engdahl Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	We've got another bank going under and another new normal for investors to consider.
0:10.6	Motley Full Money starts now.
0:12.6	I'm Chris Hill joining me in studio Motley Full Senior Analyst Bill Barker.
0:25.4	Good to see you.
0:26.4	Thanks for being here.
0:27.4	Thanks for having me.
0:28.4	Once again, the news fairy showed up over the weekend.
0:32.8	First Republic Bank was seized by regulators and then sold to JP Morgan Chase.
0:40.0	JP Morgan Chase will assume all of first republics $92 billion in deposits.
0:49.5	There are a few different ways we can go here.
0:52.8	I'm going to start with something you and I talked about earlier today which was on a
0:56.4	call with analysts.
0:59.7	CEO Jamie Dimon said, and I quote, there are only so many banks that were off sides this
1:05.4	way.
1:06.4	There may be another smaller one, but this pretty much resolves them all.
1:11.3	This part of the crisis is over.
1:14.2	That last part of his comment, this part of the crisis is over, is that headline is being
1:21.7	splashed everywhere.
1:24.2	Jamie Dimon is one of those, he's on the short list of people you want to hear from.
1:30.4	Anytime there is any kind of large economic challenge happening, particularly if it's in
1:36.6	banking, but I'm not pro banking crisis.
1:41.4	I'm very anti banking crisis and yet I think some people are reading too much into that
	...

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