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by JumpCrisscross
1141 days ago
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> FRB was solvent and had plenty of liquidity if the FDIC didn't force kill it This is totally incorrect. Face value and market value are a material difference when one faces a liquidity crunch. First Republic was in a slow death spiral for months, and everyone across its capital structure knew it for at least a week. > there was zero reason FRB couldn't have held all its good loans to maturity and been totally fine You can’t tell depositors you won’t give them their money for ten years. |
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