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Blankfein Suggests Wall Street’s First Republic Rescue Was Bad Idea
Lloyd Blankfein -- who, for those unfamiliar, ran a bank at one point -- isn't enamored with the act
I’ve been puzzled why JPM et al are trying so hard to save FRC, whose monied customer base will surely be attractive to them.
I’d guess the specter of more regulation when the dust settles. If this crisis gets contained at FRC, it can get blamed on VCs and crypto. If it metastasizes, banks are going to be first in the firing line in the post-mortem.