First Republic into Receivership & Commercial Real Estate Falters | May 1, 2023 - Daily Market Briefing

Ben and Tom discuss First Repulic Bank going into FDIC receivership. JPMorgan assumes assests, as FRC is the biggest US bank failure since 2008. Charlie Munger comments that banks are no where near the same debacle as 2008, with the primary issue currently being a result of business mistakes rather than economic crisis. Commercial real estate is on its way downward.For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure