Silicon Valley Bank is not a single outlier. First Republic Bank might be in the process of failing also.
Fears Silicon Valley Bank collapse could hit First Republic Bank https://t.co/wgmfinBhDM
— Daily Mail US (@DailyMail) March 11, 2023
There are runs on the bank just as there was with SVB.
LOS ANGELES — Bank run at First Republic Bank branch. pic.twitter.com/twyDxGbxDS
— Citizen Free Press (@CitizenFreePres) March 11, 2023
Its stock crashed on Friday alongside SVB and other banking stocks.
JUST IN – *BANK PANIC* First Republic Bank (FRC) shares crash to record 37% at open pic.twitter.com/2gW0e9dV7t
— Insider Paper (@TheInsiderPaper) March 10, 2023
People are already comparing what’s happening to 2008.
First it was Silvergate, then Silicon Valley Bank and now First Republic Bank.
All sinking massively on the markets.
It's 2008 all over again.
— Michaël van de Poppe (@CryptoMichNL) March 10, 2023
2008 is a fair comparison, but I would just argue that this will be far worse then 2008.
There is a good chance First Republic Bank will have failed by Monday. We will just have to see how this all plays out. Looks like it is going to be quite the ride.
