02.05.2023 - 21:29 [ theHill.com ]

First Republic fallout: Democrats fume as regulators bail out yet another failed bank

Sen. Elizabeth Warren (D-Mass.), a fierce critic of big banks, emphasized that the FDIC bailout of First Republic once again puts taxpayer money on the line. That’s after $25 billion was used from the Treasury’s Exchange Stabilization Fund to backstop a loan for the rescue of depositors at Silicon Valley Bank in March.