Wall Street Rescues First Republic. Executives Sold Stock Before Collapse
The big guys (and Jane Fraser) came to the rescue for beleaguered First Republic, which was teetering precariously on the brink this week.
The San Francisco-based lender was generally seen as the likely next domino to fall in America's burgeoning bank crisis. The shares plunged anew early Thursday, amid reports it was exploring options.
The bank, which was downgraded to junk by both Fitch and S&P this week, was pondering a sale, but instead, JPMorgan, Citi, Wells Fargo, Bank of America, Go