s. government has seized california's embattled 1st republic bank. a major wall street bank j. p. morgan chase is stepping in to buy it. the san francisco based 1st republic is the 3rd midsize bank to fail in 2 months after silicon valley bank and signature bank. j. p. morgan chase bank will assume all of 1st republics loans and most of its assets. the bank has a large amount of uninsured deposits and a high exposure to low interest rate loans. let's bring in an employee, he's joining us on the set here for d, w, a business to another bank in crisis. walk us through what has happened to 1st republican and how this takeover has unfolded. so as you mentioned, the problem with 1st republic was the same that we saw before with silicon valley bank and signature bank. so exposure to low interest rates loans, a lot of uninsured deposits. and this is some, somehow a final ripple of what we've seen happening already. in march, the bank was in trouble already for a while back in march. other banks tried to pump in liquidity and confidence by putting deposits into the bank that didn't really

the 1st republic bank faced where it was earning less interest on its loans than it was paying for its liabilities. the collapse of san francisco based 1st republic is the 2nd largest in us history. jp morgan chase took over the bank and the deal broke it by regulators . but it renewed political debates about financial regulation. if your bank fails, you should be re core, the. the regulators should be required to callback the executive compensation for the last 34 or 5 years. similarly, if your bank fails, you should be barred from ever being an officer or director at a, at a bank in the future. they all worries to about bigger banks becoming too powerful . as a result of government intervention of us has backed itself into a corner where um, the way that we protect uninsured depositors. when a bank fails is to have a larger bank. gobble it up. that then makes the larger bank more likely to be too big to fail and each time this happens, the problem is compounded in washington has been to abide and attempted to reassure people that there's nothing to worry about these axes. going to ma

turmoil that we saw beginning 7 weeks ago when we 1st saw silicon valley bank labs follow by signature bank. this is a very similar bank, 1st republic, and it's client tell many startups. many business owners, not your average middle class family here, but people who had more than $250000.00 in their accounts here, business owners and those accounts were not insured by the federal government because of their high quantity was part of the steel, the federal government will be using its insurance fund to make those customers whole, which the treasury department and regulators say was so important to try to again, spread that message at the u. s. banking sector is safe and to stem the flow of, of these withdrawals because of course, the biggest fear here is further contagion. but again, this is something that had been long seen coming. this is another mid sized bank with similar issues to what we saw with the other biggs earlier and a report that was released last week by federal regulators. found that in this environment of rising interest rates, these banks simply mismanage the risk that they were putting their assets as well as fede

banking giant j. p. morgan has won a bid to take over 1st republics, assets. a deal also fun lives over the weekend. 84 1st republic branches in the u. s. were set to reopen as j. p. morgan chase branches on monday. behind that banking crisis is the rapid rise in borrowing rates in the u. s. and elsewhere in recent months, that's also hit startups hard. a young growth at all costs companies had become accustomed to bucket loads of investor money. when rates were lower, now they're having to show a lot more to get the cash. ah, berlin is home to 3000 startups were employed, 70000 people. but after many years of an upward trend, now financing difficulties are looming, large, large startups such as gonna tear and get, have already laid of many employees associate on all of these things that had suddenly appeared interest rate increases, economic developments. ukraine crisis banking crisis. all of these have effect on the start up seen. that means that investors are hesitant about their investments to a certain extent and reluctant to provide follow financing. that

bank failure since march as christians linear ports from new york affairs . it won't be the last it was early monday morning when regulators announced the end of 1st republic bank. and what they hoped was the end to a crisis of confidence in the u. s. financial system. banking giant, j. p. morgan stepped in to purchase the california based banks, nearly $104000000000.00 and deposits, and $229000000000.00 and assets before the stock market opened. g p. morgan, c. e o. jamie diamond spoke with analysts about the deal. no christabel is part of the crisis is over. first republic had been teetering on the brink of collapse in the wake of 2 others, silicone valley and signature bank, amounting to some of the largest bank failures in u. s. history. rising interest rates caused loans and investments to lose value. all 3 of these banks catered to wealthy clients with large uninsured deposits, more prone to withdraw them in times of stress. we have a structure of near 0 interest rates for 20 years. and when you begin to reset those, especially very quickly, which the fab have under pressure from the inflation debates that we've had, you're going to have structures that e

now the figure from the bank causing its market value to clubs by 97 percent. when 1st republic is the 2nd largest lender only to implode in recent months. behind the silicon valley bank both were based in california, another commercial enterprise signature bank, also clubs. that's res. fears even more banks are at risk and that a wider crisis could spread. president biden and the treasury secretary have repeatedly given assurances to the public that their money is safe. washington i said, efforts are under way to avert a potentially broader meltdown like the 2008 financial crisis could have confidence in the banking system is safe. you deposit will be there when you need them. the situation is stabilized. and the u. s. banking system remain sound our intervention with necessary to protect the broader us banking system. these actions demonstrate that all deposit or savings in the banking system are safe. our banking system is sound and resilient with strong capital and liquidity. when our to contribute or chris, an unsafe investors aversion to us banks that we're seeing could of

comes in the back front of this financial, john gp morgan stepping in to snap up the troubled us bank 1st republic in a deal brokered by regulators. all of 1st republics, 84 offices on remaining deposits are now under the control of j. p. morgan. it had been teetering on the brink in recent weeks, this by the 30000000000 dollar lifeline from several major financial institutions. that didn't work. however, i was worried depositors pulled more than a $100000000000.00 from the bank, closing its market value, chip lops by 97 percent of 1st republic is the 2nd largest bank to include in recent months behind the silicon valley bank, both based in california and another lender, signature bank collapse as well. that's raise fears, thought even more lenders are at risk or that a wider crisis could spreads. we spoke to number of analysts expert to shared their views on the financial situation in the u. s. and what should be done at globally as well? this is so 5 contained by this, and i've been coming in. but clearly it's a symbol and is saying that something's not driving the financial sector in the bankin

bank is run, no bank across the way it is run in a manner that it can be back all the deposit on at the same time i can just spend the money, how? ok, well, so this collapses, 1st republic bank is a 2nd. it's, this is the 2nd largest in the us since 2008 financial crisis. but all, all there, if any repercussions on the us financial system. of course, there are paper cautions, not just for the residential system, but also for the wider economy. what happens from now on board is that banks.

morgan has stepped in to snap up the troubled us bank 1st republic, the deal brokerage by various regulators. now, all of 1st republics, 84 offices and remaining deposits. and now under the control of j. p. morgan. first republic, they've been teetering on the brink in recent weeks, just by have 30000000000 dollar lifeline from several major financial institutions . worried to savers pulled out more than a $100000000000.00 in the pulses from the firm, according its market value to collapse by 97 percent. now the 1st republic is the 2nd largest bank to implode and recent months behind a silicon valley bank, both based in california and other lender signature bank also went down so raised for years that even more lenders are at risk or that a wider crisis could essentially engulf that of the global community. the american president drove by another treasury secretary, he repeatedly given assurances to the public. the money is safe. washington said efforts underway to avert a potentially broader mel down not entirely dissimilar from the 2008 crisis. thanks to the quick actually my ministration.

other stories making headlines around the world. us regulators of taken control of troubled 1st republic bank and sold it to j. p. morgan chase 1st republic had assets worth about $230000000000.00 and more than a $100000000000.00. and deposits is the 2nd largest retail bank to fail in u. s. history, thousands of people have taken part in march here in berlin to mark the may day holiday, but organizers ended the demonstration early pretest in protest at the police presence one and 6000 police were deployed in recent years, the german capital has seen classes and international workers day celebrations, the un top official incidence. as the countries warring generals have agreed to send representatives to potential negotiations, full cur, peter said the talks could be held in saudi arabia and would focus 1st on establishing a durable truce. now clashes are still being reported in the capital, have 2, despite an agreement between rival military forces to extend a ceasefire. 8 tons of medical supplies, enough to treat over a 1000 injured people. i hope this will be only the 1st of a number of vouc

now are chase bank branches, not 1st republic. they may have moved quickly. christian, but what does it mean for the broader economy? all the more banks are at risk yeah, it's a great question. j. p diamond, the ceo of chase bank here and took the twitter this morning. and he said that this latest move by his bank means that the banking price is, is for the most part over in his view, largely over was the words that you used on twitter. but the question of the impact on the broader economy is still remains. the issue of course, again, is these rising interest rates which have forced banks to rein in their lending and making it harder for businesses to borrow money and to cover their expenses, harder for people to buy homes and so on. so the economic impact of all of this may not be fully realised yet, but most experts seemed to agree with j. p. morgan chase a ceo, they're not pointed to any other banks that are at high risk right now. so the hope is that the bank contagion aspect of this crisis is now largely contained and the mark

in to snap up the trouble do us bank 1st republic. the deal brook good by regulators, all of 1st republics, 84 offices and remaining deposits. and now under the control of j. b. morgan. it has been teetering on the brink in recent weeks. quite a 30000000000 dollar lifeline from several major financial institutions that didn't work. however, i was worried dep deposit is pulled more than 3 times that figure from accounts closing his market value to collapse. why 97 percent 1st republic is just the 2nd largest needed implode in recent months behind the silicon valley bank both were based in california, another commercial enterprise signature bank also collapse. that's arrays is even more bags are at risk. and that why the crisis could spread prison. boyden on the treasury secretary, have repeatedly given assurances to the public that them money is safe. washington, i said, efforts are undoing a potentially broader meltdown. like the 2008 financial crisis. murky should have confidence that the banking system is safe. your deposits will be

banks as well. and that has continued for a while. so the 1st republic issues have been around for a good few weeks now despite some support that they got from some of the bigger banks that put more deposit into 1st republic just to guaranteed can carry on operating for a while and it did. but i'm afraid there was a lot of concern as to whether you would survive. and whether of course, you know, given that there was a limit to the guarantee of deposits of $250000.00 in the u. s, which is a lot higher than it is in europe or in the u. k. what you found is that quite a lot of people with a lot more money. i do remember there is a big wealth management on which has hundreds of billions of and nearly 200000000000 of, of us is that he was managing, they're all got quite worried and started removing the money. so i think that will feel considerably will a certain that money is safe and, and of course, what we've seen is that there is now a guarantee basically of all those deposits which j. p. morgan has taken on. so that is a huge change from how things where

morgan stepping in to snap up the troubled us bank 1st republic and a deal brokered by regulators. all of 1st republics, 84 offices and remaining deposits are now under the control of gp morgan. it had been teetering on the brink and recent weeks this by the $30000000000.00 lifeline from several major financial institutions. didn't work however, was worried. the passenger is pulled more than 3 times the figure from a cons causing its market value to co ops by 97 percent. what 1st republic is. busy just the 2nd largest lender to implode in recent months . behind the silicon valley bank both were based in california, another commercial enterprise signature bank, also clubs. that's res, fears even more at risk and that a wider crisis can spread the president by the treasury secretary as well of repeatedly given assurances to the public up there money is safe washington. her state efforts are on their way to avert a potentially broader melt on like the 2008 financial crisis could have confidence that the banking system is safe. you deposit will be there when you need the situation. stab

bank on the brink over the weekend. you as regulators seized control of 1st republic bank. it's the 3rd american bank to collapse this year. the 2nd largest in us history and its demise came just as quickly as its rebirth on monday morning. first republics, 84 branches opened their doors for business under new ownership and under a new ne, the pressure on america's biggest regional bank just became too much a run on 1st republican march shook the company at a time when other lenders were collapsing. but the final straw came when 1st republic share price collapsed, as investors found out the true scale of the damage their verdict, the lender was on borrowed time. customers took out billions of dollars towards the end of last year. it had almost a 180000000000 on its books that fell to just over a 100. by march, the bank was simply no longer viable. it's part of a wave to hit big banks of the top for us bank collapses by size 3. have been this year alone. including 1st republic jo biden's message. the sale of 1st republic to j. p. morgan protects depositors or through at all.

morgan has stepped into snap up the troubled us bank 1st. republic, sir beale brokerage by the various regulators, the old 1st republics, 84 offices and remaining deposits. now under the control of j. p. morgan. first republic had been tutoring on the brink of reason 2 weeks, despite a 30000000 dollar lifeline from several of major financial institutions. a worried save of pulled more than a $100000000000.00 and deposits from the firm, ultimately causing its market value to collapse by 97 percent. now the 1st republic is the 2nd largest buying to implode and recent months behind that of silicon valley bank. both based in california and other lender signature bank also collapse . that's raised for years. even more lenders are at risk score that a wider crisis could engulf that of the global economy. because i'm president biden, and the us treasury secretary have repeatedly given assurances to the people that your money is safe. washington said efforts are under way to avert a potentially broad amount down. not entirely unlike what happened in 2000 and been .

when it comes to made the financial, giant gp morgan stepping in to snap up the trouble, us bank 1st republic in a deal broken by regulators. busy all of 1st republic, 84 offices and remaining deposits are now under the control of j. p. morgan. it had been teetering on the brink and recent weeks this by the $30000000000.00 lifeline from several major financial institutions that didn't work, however, worried depositors pulled more than a $100000000000.00 from the buying, causing its market value to clubs by 97 percent. first republic is the 2nd largest bank to employed in recent months. behind the silicon valley bank. both were based in california, another lender, signature bank, also collapse. now, to raise fears, even more financial institutions are at risk or that a wider crisis could spread deeper into all this will are to contribute a chris and he always does a good job of putting into layman's terms for his hi. there are chris janet yellen has warren congress to act as soon as possible, post scary language being used here. otherwise, a meltdown would be inevitable. what's the potential c

morgan stepping in to snap all the troubled us bank 1st republic and a deal at brokered by regulators. all of that. so banks, $84.00 offices and remaining deposits are now under the control of g. p. morgan. it had been teetering on the brink and recent weeks despite a $30000000000.00 lifeline from several major financial institutions that did not work. however, i was worried depositors pulled more than $100000000000.00 from the bank, causing its market value to collapse by 97 percent of 1st from public is the 2nd largest bank to implode in recent months. behind the silicon valley bank both were based in california. another lender, as signature bank, also collapsed south has raised fears, even more lenders are at risk, or indeed, a wider crisis cut spread or president biden. the treasury secretary have repeatedly given assurances to the public doubt their money is safe. washington has said efforts are on the way to avert say, potentially broader melt on like the 2008 financial crisis. thanks to the quick action my administration over the past few days. marriages can have confidence tha

other stories making news around the world. us regulators have taken control of the troubled 1st republic bank and sold it to j. p. morgan chase 1st republic had assets worth about $230000000000.00. and more than $100000000000.00 deposits. the 2nd largest retail by failing u. s. history. hollywood is bracing for possible writers strike as talks between major studios and the powerful writers union remain unresolved. as before, crucial deadline strike could shut down television talk shows and delay the release of t. v series and movies said for some of the people have taken part in the march here in berlin to mark the may day holiday. the organizers end of the demonstration early in protest at the police presence on the $6000.00 officers were deployed in recent years. the german capital has seen flashes and international workers day celebration. women's rights in afghanistan are the focus of lead talks that have opened in cut our representatives from the us, china, russia, and others will discuss how to press afghan leaders to ease of bad on women working and girls going to school. the taliban,

in p at you're pointing to us regarding developments in the united states now the fail, the 1st republic bank has been acquired by rival j. p. morgan chase. in a $10600000000.00 deal. regulators had taken control of 1st republic, a 3rd major bank in the us to fail in the space of 2 months. shares in the bank tumbled last week after it reveal customers, it withdrawn a $100000000000.00 in deposits in march. last non silicon valley bank and signature bank, both collapse hosing fears if a wider market fallout, christian salumi has more on this now. while us regulator stepped in in the early morning hours and seized 1st republic bank and then turned around and immediately sold it to j. p. morgan chase. i'm standing outside of the headquarters here in manhattan, new york. this was after a weekend of intensive negotiation to try to prevent another bank failure that would cause panic in the market and just trust among investors. the government stepped in did these negotiations and chase came to the rescue. first republic, of course, had been teetering on the brink of collapse ever since those other 2

the troubled 1st republic bank has been acquired by j. p. morgan chase regulations had taken control of the bank. the 3rd major institution in the u. s. to fail, and 2 months 1st republic says fell last week off it revealed customers had withdrawn $100000000000.00 in deposits in march. was the month silicon valley bank and signature bank collapse, closing phase of a wide market fall out. and kristen salumi live for us now in new york and christian tell us, but more about what led to this takeover. well, us regulators stepped in in the early morning hours and seized 1st republic bank and then turned around and immediately sold it to j. p. morgan chase. i'm standing outside of the headquarters here in manhattan, new york. this was after a weekend of intensive negotiation to try to prevent another bank failure that would cause panic in the market and just trust among investors. the government stepped in did these negotiations and chase came to the rescue. first republic, of course, had been teetering on the brink of collapse ever since those oth

kimberly, how can al jazeera, the white house failed us bank 1st republic as being acquired bytes, rival, j, p. morgan chase and a $10600000000.00 deal. regulators had taken control of 1st republic off to a crash and the shaft price is the 3rd u. s. bank failure. since the month of march and as christian salumi reports from new york, their fears that it won't be the last. it was early monday morning when regulators announced the end of 1st republic bank. and what they hoped was the end to a crisis of confidence in the u. s. financial system banking giant, j. p. morgan stepped in to purchase the california based banks, nearly $104000000000.00 and deposits, and $229000000000.00 and assets before the stock market opened. g p. morgan, c o, jamie diamond spoke with analysts about the deal. no christabel is part of the crisis is over. first republic had been teetering on the brink of collapse in the wake of 2 others, silicone valley and signature bank, amounting to some of the largest bank failures in u. s. history. rising interest rates, cause loans and investments to lose value. all 3 of the

bank than even $30000000000.00, do not do the trick. j. p. morgan um, apparently moved quickly to take over 1st republic of gp morgan was already the largest us bank. now it's even bigger. and i remember banks in the financial grad crisis back of 2008, 2009. remember they were too big to fail. i'm wondering, did i browse, did they breeze to day when j. p. morgan swallowed up 1st republic. i mean those are not a usual circumstances. some on one end side there was some a relief even if this is not a great solution, but it might be the least of worst them under normal circumstances. j. p. morgan would never get the okay, never get the sums up the to acquire another at bank and increase their a deposit. so this is clearly the situation why everybody was sort of relieved and made an exception. so that j. p. morgan, as you mentioned, is getting even bigger. and he ends judging by wall street reaction to the deal reaction. this monday, traitors, they seem to be shrugging off the the whole mess. yeah, and, and i'm wondering if we are underestimating the impact that those regional a bank failures ahead to him. i mean on one on the financial system, if

making headlines around the world . us regulators over the weekend took control of the troubled 1st republic bank and then sold it to j. p. morgan 1st republic, at assets worth about $230000000000.00 more than a $100000000000.00 in deposits. it's the 2nd largest retail bank to fill in u. s. history. in the u. s. a former model e g. carol returned to the witness stand today in her rape case against former president donald trump. the trial resumed after the judge denied a request by trump's attorney for a missed trial. due to alleged bias by the judge trevors accused of raping carroll in a department store dressing room in 1996 or gary as in chief prosecutor, had survived an assassination attempt unharmed. officials say that his convoy was on his way to sophia. when a bomb exploded by the side of the road. l protesters have accused him of failing to tackle corruption. they've called for his resignation. the un stop official in sudan says of the countries warring generals have agreed to send representatives to potential negotiations. folk or pelletize says that the talks could be held in saudi arabi

more stories making news around the world. us regulators have taken control of the troubled 1st republic bank and sold it to j. p. morgan chase 1st republic had assets worth about $230000000000.00. and more than a $100000000000.00 and deposits, the 2nd largest retail bank to fill us hollywood is bracing for a possible writers strike as talks between major studios and the powerful writers union remained unresolved hours before crucial deadline. and a strike could shut down television talk shows and delay the release of television series and movies set for awesome thousands of people who have taken part in the march here in berlin to martha made a holiday organizes end of the demonstration early for just at the police presence more than 6000 officers were deployed in recent years, the german capital has seen clashes and international workers, date celebrations. listen to the war in ukraine. now, u. s. officials, a, they believe russia has suffered at least 800000 casualties, including $20000.00 of its forces killed in the battle for the ukrainian city of buttonwood since december. now this come

s. regulators of taken control of the troubled 1st republic bank and sold it to j. p. morgan chase 1st republic had assets worth about $230000000000.00 and more than $100000000.00 in deposits. second largest retail bank to fill a u. s. environmental groups, assuming the u. s. federal aviation administration over its approval of a space ex rocket launch last month. the groups argue the agency field to adequately investigate the potential harm it could do to the surrounding environment. the rocket exploded minutes into flight. women's rights in afghanistan are the focus of a you and lead. talk that talks that have opened in tar representatives from the us, china, russia, and others will discuss how to press african leaders to ease abandoned women working and girls. going to school. the taliban have not been invited to you. and top official in sedans, as the countries warring generals have agreed to send representatives to potential negotiations. welcome patters, says the talks could be held in saudi arabia and would focus 1st on establishing a durable truce. crashes are s

banking j. p. morgan has won a bid to take over 1st republics, assets that you'll also finalize over the weekend. 84 1st public branches in the u . s. were set to reopen as j. p. morgan chase branches on monday and behind that banking crisis is the rapid rise in borrowing rates in the u. s. and elsewhere in recent months. that's also hit startups. hard of the young growth at all costs companies had become accustomed to bucket loads of investor money. when rates were lower, now they're having to show a lot more to get their cash. ah, berlin is home to 3000 startups were employed, 70000 people. but after many years of an upward.

you as regulators are rushing to find a rescue, it's by the troubled 1st republic bank. several major financial institutions have reportedly been asked to make bits, 1st, republic chairs plunge last week after it revealed that customers had withdrawn $100000000000.00 and deposits in march. that was a month of silicon valley bank and signature bank collapsible to fears of a wide market fallout. allan fisher reports now from washington dc. will this rescue efforts been going on since the markets closed on friday? potentially this could be the 2nd biggest banking loss in us history. now you remember back in march that the silicon valley bank esignature bank run into problems or foster public also had issues then with liquidity. and the big banks help them by sending money into their accounts. now here in the united states, if you open a bank account, anything up to 250000 dollars is covered by the regulator, the f d i see. but any deposit over that, if a bank went bust, you would lose it. and that's been the problem for 1st republic. a lot of these big investors have been asking for thei

where regulators have taken control of the troubled 1st republic bank and struck a deal to sell his assets to j. p. morgan chase 1st republic had assets worth about $230000000000.00 more than a $100000000000.00 in deposits. it's the 2nd largest retail bank to fail in us history o t, as in it was becky's down have approved constitutional changes that will allow the president to remain in power until 2040 the government claim referendum. would also ushering human rights reforms. lateral officials, the change have been backed by 90 percent of voters. international observers say the vote lacked genuine political pluralism and competition. and the united nations has warned that the ongoing fighting incident could force more than 800000 people to flee the country. clashes have been reported in the capital har tune, despite an agreement between rival military forces to extend a ceasefire. the un says the violence is turning a humanitarian crisis into a full blown catastrophe. 8 tons of medical supplies, enough to treat over a 1000 injured people. i hope this will be only the 1st of a number of vo

s. regulators have seized control of the troubled 1st republic bank and struck a deal to sell its assets to j. p. morgan chase 1st republic had assets was about $230000000000.00, and more than a $100000000000.00 and deposits. it is the 2nd largest retail bank to fail in u. s. history. in sudan fighting has been reported in the capital cartoon despite an agreement between rival military forces to extend a ceasefire agreement. the truce is meant to provide relief for civilians caught up in the fighting. now in its 3rd week with tens of thousands trying to flee. the united nations, as warning of a humanitarian crisis that could impact all of use africa, 8 tons of medical supplies, enough to treat over a 1000 injured people. i hope this will be only the 1st of a number of vouchers doug will come. we'll be extremely crucial for the hospital to the hospitals, to be able to cooper for the needs of thousands of people that are flocking to their doors and waiting to get medical assistance. but the conflict shows no sign of easing. shortly after the warring parties agreed to a 72 hour truce, viole

the failed us bank 1st republic is being acquired, butts rival, j, p. morgan chase and a $10600000000.00 deal. regulators had taken control of 1st republic after a crash and at sher price. it's the 3rd u. s. bank failure since march. um does christian salumi reports from new york? their affairs? it won't be the last. it was early monday morning when regulators announced the end of 1st republic bank and what they hoped was the end to a crisis of confidence in the u. s. financial system banking giant, j. p. morgan stepped into purchased the california based banks, nearly $104000000000.00 and deposits, and $229000000000.00 and assets before the stock market opened. g p. morgan ceo, jamie diamond, spoke with analysts about the deal. no christabel is perfect for the crisis is over . first republic had been teetering on the brink of collapse in the wake of 2 others, silicon valley and signature bank, amounting to some of the largest bank failures in us history. rising interest rates caused loans and investments to lose value. all 3 of these banks catered to we

bank went bust, you would lose it. and that's been the problem for 1st republic. a lot of these big investors have been asking for their money out up to that 250000 limit. no banks don't just keep money sitting around in their vaults. they invest a lot of what they get in. and if they don't have the money to cover, when people are demanding their money back, that's what starts what's known as a run on the bank. and that's what happened here. to foss republic, no. the f d i. c and government regulators have been spending the weekend looking for someone to buy the bank in its entirety. but if they can't get that, then what they're going to do is try an auction off the most lucrative parts. and it means that the government will be left with the loss making parts of the bank. now those a, if thought to be looking at this, or g p, morgan chase at the bank of america and also p n c, which is a bank which is based in pittsburgh, which seems to be keen because it wanted to buy fresh republic, not that long ago, a giant massive seaweed in the atlantic is discouraging touris