First Republic Saved By “Dimon Hands”

It appears that Friday’s rumors of the Federal Deposit Insurance Corporation (FDIC) putting First Republic Bank (FRC) into receivership were true. Over the weekend, regulators pulled together bids from several of the country’s leading banks, with JPMorgan Chase coming out on top. 💪

Retail investors are used to “Diamond Hands,” but “Dimon Hands” seem much more appropriate for this story. JPMorgan Chase will definitely be HODLing the failing bank’s assets, but not without some sweet government incentives. 💰

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