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Here’s why the ‘too big to fail’ banks bailed out First Republic

Summary by Ground News
A consortium of 11 giant banks that are ostensibly in competition with one another came together Thursday to bail out one of their own, the California-based First Republic, in order to help stabilize the teetering U.S. financial system.

Bias Distribution

  • 67% of the sources are Center
67% Center
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Observer broke the news in New York, United States on Monday, March 13, 2023.
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