Bill’s commentary:
“You didn’t really think the bubbling bank problems were over, did you?”
First Republic Bank appears to have gotten out of immediate liquidity trouble, but it has dug itself a deep profitability hole.
To cover deposit outflows, the lender had to borrow heavily at high rates from the Federal Reserve, the Federal Home Loan Bank and JPMorgan Chase & Co., in addition to the $30 billion that JPMorgan and 10 of the other largest banks deposited at the bank in an effort to rescue it. Total borrowings peaked at $138.1 billion on March 15, declining to $104 billion as of April 21, the bank said in its quarterly earnings statement on Monday.
Bill’s commentary:
“Is the market acting like an hourglass? Why such an increase in Treasury rates from 1 to 2 months out? Please ponder this?”
‘The most melancholy thing about life today is that knowledge is being gathered at an incredible pace while wisdom lags behind.’ Isaac Asimov. (1920-1992).
Bill’s commentary:
“Rocket scientist of the year award!”
In order to defeat fascism, Representative Alexandria Ocasio-Cortez has called for the military to shut down news agencies that say anything unapproved by the government.
“It’s like, defeating fascism 101,” said Ms. Ocasio-Cortez. “The government takes control of the nation’s media, then silences all the bad people. Fascism solved!”
Bill’s commentary:
“Posted with no comment necessary…”
BillHolter.com 