Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

TexasTowelie

(112,860 posts)
Mon Apr 29, 2024, 10:37 PM Apr 29

USA Bank Collapses - FDIC Closes Republic First as USA Interest Rates Claims First Financial Victim - Joe Blogs



Republic First Bank has collapsed into Insolvency becoming the first official financial victim of the rapid rise in interest rates in the USA over the past 18 months. In this video I provide more details on the collapse and discuss the possibility of more bank failures in 2024.

Chapters:
0:00 Intro
2:15 FIRST REPUBLIC COLLAPSE
4:31 REASONS FOR FAILURE
12:05 FAILED BAILOUT
13:25 AUDITORS
15:05 USA BANK FAILURES
16:40 SUMMARY & CONCLUSION
2 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
USA Bank Collapses - FDIC Closes Republic First as USA Interest Rates Claims First Financial Victim - Joe Blogs (Original Post) TexasTowelie Apr 29 OP
Silicon Valley Bank failed due to rising interest rates in March 2023. House of Roberts Apr 29 #1
You're correct. TexasTowelie Apr 29 #2

House of Roberts

(5,206 posts)
1. Silicon Valley Bank failed due to rising interest rates in March 2023.
Mon Apr 29, 2024, 11:07 PM
Apr 29

That was just over a year ago. They went insolvent too. I wouldn't call Republic the 'first official financial victim' of rising interest rates.

TexasTowelie

(112,860 posts)
2. You're correct.
Mon Apr 29, 2024, 11:28 PM
Apr 29

Republic is the first official victim of rising interest rates in 2024 would be more accurate.

Kick in to the DU tip jar?

This week we're running a special pop-up mini fund drive. From Monday through Friday we're going ad-free for all registered members, and we're asking you to kick in to the DU tip jar to support the site and keep us financially healthy.

As a bonus, making a contribution will allow you to leave kudos for another DU member, and at the end of the week we'll recognize the DUers who you think make this community great.

Tell me more...

Latest Discussions»Issue Forums»Economy»USA Bank Collapses - FDIC...