First Republic Zombie Bank Dismembered, Pieces Handed to JP Morgan, Uninsured Depositors Bailed Out. Stockholders, some Bondholders Bailed in. Cost to FDIC…

First Republic Bank, after disclosing last week that it’s a zombie, was shut down early today by the California banking regulator and handed to the FDIC as receiver, which then dismembered it and handed the pieces, after “a highly competitive bidding process,” to JP Morgan Chase Bank. These pieces…

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