BusinessMay 8, 2023
Business quote
What happened here is because a bank was underregulated and started to fail, the federal government has helped JPMorgan Chase (bank) get even bigger. It may look good today while everything's flying high but ultimately if one of those giant banks, in this case JP Morgan Chase, starts to stumble, the American taxpayers are the ones who will be on the (hook). -- U.S. ...
What happened here is because a bank was underregulated and started to fail, the federal government has helped JPMorgan Chase (bank) get even bigger. It may look good today while everything's flying high but ultimately if one of those giant banks, in this case JP Morgan Chase, starts to stumble, the American taxpayers are the ones who will be on the (hook). — U.S. Sen. Elizabeth Warren, Democrat from Massachusetts, criticizing Tuesday, May 2, the move by Federal Deposit Insurance Corp. to sell most of the assets of failed First Republic Bank to JPMorgan Chase for $10.6 billion.
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