"First Republic's Demise: A Lesson in Risk and Reward"
TL;DR Summary
Florida congresswoman Lois Frankel sold her First Republic stock on March 16 while the share price was tanking then purchased stocks in JPMorgan on March 22, weeks before it took over First Republic. The transactions are revealed in financial disclosures which say the value of the stocks in both instances was between $1,001 and $15,000. The revelations have placed renewed scrutiny on lawmakers over their trading. A bipartisan bill was introduced by Alexandria Ocasio-Cortez and Matt Gaetz to ban stock trading by members of Congress.
Topics:business#bipartisan-bill#first-republic-bank#jpmorgan-chase#lois-frankel#politics#stock-trading-ban
- Florida Democrat sold up to $15,000 stock in First Republic then bought JPMorgan Chase stock Daily Mail
- How to shore up America's banks after First Republic's demise The Economist
- Democratic congresswoman sold First Republic stock and bought JPMorgan just before bank sale, financial disclosures show CNN
- What killed First Republic? Failure to gather deposits at 'digital scale' American Banker
- Opinion | Rewarding Risk Drove First Republic to Failure Common Dreams
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