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JP Morgan buys First Republic from FDIC
Over the weekend, the FDIC took over First Republic Bank (FRC) and immediately sold it to JP Morgan Chase (JPM) for $10.6bn. JPM will guarantee all deposits, and will promptly return $25bn cash to the private consortium ...

 

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Phillips curve | FRC | FDIC | JP Morgan

A quick look at the JPM/FDIC/FRC deal. John Hussman on Phillips curves and false investment narratives.