USA Bank Collapses - FDIC Closes Republic First as USA Interest Rates Claims First Financial Victim - Joe Blogs

[TexasTowelie]

Republic First Bank has collapsed into Insolvency becoming the first official financial victim of the rapid rise in interest rates in the USA over the past 18 months. In this video I provide more details on the collapse and discuss the possibility of more bank failures in 2024.

Chapters:
0:00 Intro
2:15 FIRST REPUBLIC COLLAPSE
4:31 REASONS FOR FAILURE
12:05 FAILED BAILOUT
13:25 AUDITORS
15:05 USA BANK FAILURES
16:40 SUMMARY & CONCLUSION

[House of Roberts]

1. Silicon Valley Bank failed due to rising interest rates in March 2023.

That was just over a year ago. They went insolvent too. I wouldn't call Republic the 'first official financial victim' of rising interest rates.

[TexasTowelie]

2. You're correct.

Republic is the first official victim of rising interest rates in 2024 would be more accurate.