First Republic Bank seized, sold in fire sale to JPMorgan
Regulators seized troubled First Republic Bank early Monday, making it the second-largest bank failure in U.S. history, and promptly sold all of its deposits and most of its assets to JPMorgan Chase in a bid to stop further banking turmoil that has dominated the first half of this year.
Biden's top aides unlikely to qualify for relief payments
WASHINGTON – At least one group in America is unlikely to get any money from President Joe Biden’s $1.9 trillion economic rescue plan — his own top aides. Most of Biden’s senior West Wing advisers made far more than the threshold that would qualify them for direct payments from the president’s COVID-19 relief bill, according to White House financial disclosure forms released Saturday. Others in the West Wing — whose positions don't require Senate confirmation — have had deep ties to the business world. He was listed as having a salary of $1.8 million, according to his disclosure form. Brian Deese, head of the national economic council, was previously global head of sustainable investing at BlackRock, according to his disclosure.