“This isn’t individual banks runs, it’s a run on the business model.
Essentially every bank in America used that business model: loading up on expensive bonds to park the influx of pandemic-era deposits, then losing hundreds of billions as rates went up.“
https://open.substack.com/pub/stonge/p/last-days-of-first-republic-bank?utm_source=direct&utm_campaign=post&utm_medium=web
Derek
npub1g6…4hu7v
2023-05-11 19:14:05
Author Public Key
npub1g6ghj36a9y9d6p4vz4rq6z8rwrqxm6evllnlhkt26e55h9y0q6psv4hu7vPublished at
2023-05-11 19:14:05Event JSON
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"content": "“This isn’t individual banks runs, it’s a run on the business model.\n\nEssentially every bank in America used that business model: loading up on expensive bonds to park the influx of pandemic-era deposits, then losing hundreds of billions as rates went up.“\n\nhttps://open.substack.com/pub/stonge/p/last-days-of-first-republic-bank?utm_source=direct\u0026utm_campaign=post\u0026utm_medium=web",
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