Biden’s Treasury Secretary Janet Yellen issued a joint assertion Thursday together with the heads of the Federal Reserve and the Federal Deposit Insurance coverage Company, saying that 11 huge banks would deposit roughly $30 billion into First Republic Financial institution to stabilize its stability sheet after its inventory cratered final week.
Whereas this bailout — blessed by the Biden administration — is meant to bolster depositors’ confidence, a brand new report has revealed that First Republic’s personal executives have…
