Are we in a recession? Elon Musk says the pile of failed banks proves it.

Tech Insider

Good morning, team. I'm Phil Rosen. If you missed it Monday, regulators seized First Republic Bank and JPMorgan took over the majority of its assets. 

Billionaire Apollo co-founder Marc Rowan sees the 2nd wave of bank stress coming as commercial real estate concerns mount

Tech Insider
Marc Rowan
Marc Rowan, Apollo co-founder.

Reuters

Why First Republic failed, and what it means for the rest of the banking industry

Tech Insider
A pedestrian walks by the First Republic Bank headquarters on March 13, 2023 in San Francisco, California.
First Republic's San Francisco headquarters.

Justin Sullivan/Getty Images

Jamie Dimon says JPMorgan rescued First Republic because the government asked his bank 'to step up, and we did'

Tech Insider
Jamie Dimon, Chairman and CEO of JPMorgan Chase & Co., speaks at the Economic Club of Washington September 12, 2016 in Washington, DC. Dimon joined a discussion on the state of U.S., global and regional economies.
Jamie Dimon is CEO of JPMorgan.

Win McNamee/Getty Images

JPMorgan is buying First Republic Bank after it was taken over by regulators

Tech Insider
First Republic Bank
First Republic Bank branch on Park Avenue in New York City.

Michael Brochstein/SOPA Images/LightRocket via Getty Images

Jamie Dimon is vying to take control of First Republic Bank, report says, after JPMorgan steered clear of SVB

Tech Insider
Jamie Dimon, JPMorgan
Jamie Dimon is CEO of JPMorgan.

Chip Somodevilla/Getty Images

'Big Short' investor Michael Burry predicted a cash crunch. A top JPMorgan banker says that painful problem is fueling a banking crisis

Tech Insider
Michael Burry big short
Michael Burry.

Jim Spellman/Getty Images

The $30 billion reason for Wall Street to save First Republic ASAP

Tech Insider : Economy
nyse svb first republic trading floor

Timothy A. Clary/AFP via Getty Images

First Republic stock craters 49% after the bank reveals customers pulled out $100 billion of deposits last quarter

Tech Insider
First Republic Bank
First Republic shares plunged Tuesday after the embattled lender revealed its customers pulled out $100 billion worth of deposits last quarter.

Michael Brochstein/SOPA Images/LightRocket via Getty Images

First Republic handed out billions in ultra-low-rate mortgages to the wealthy. It backfired horribly.

Tech Insider : Economy
brownstone stoop

Lucas Jackson/Reuters

Subscribe to First Republic