David Rubenstein suggests government intervention for First Republic, while white-collar spending declines.

David Rubenstein, co-founder of The Carlyle Group, believes troubled regional bank First Republic Bank will need government assistance to stay afloat and prevent the return of the banking turmoil that dominated March's headlines. Rubenstein says there's a big hole in the balance sheet of First Republic Bank and that the government will have to provide some assistance if that deal's gonna get done. Despite the capital injections and regulator show of support, First Republic Bank shares are off by a whopping 88% since March 1.