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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

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Speaker 1: accused of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States

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Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 1: crossings are at the lowest levels ever recorded, and over

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Speaker 1: one hundred thousand illegal aliens have been arrested. If you

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Speaker 1: are here illegally, your next you will be fined nearly

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Speaker 1: one thousand dollars a day, imprisoned, and deported. You will

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Speaker 1: never return. But if you register using our CBP home

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Speaker 1: app and leave now, you could be allowed to return legally.

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Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,

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Speaker 1: border and families will be protected.

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Speaker 2: Sponsored by the United States Department of Homeland Security.

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Speaker 3: Let's talk about the big news of the day. JP Morgan,

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Speaker 3: Big bank, take little.

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Speaker 4: Bank one another one literally.

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Speaker 3: H JP Morgan has taken over control of First Republic Bank.

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Speaker 3: First Republic Bank seized by regulators. So the dale finally

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Speaker 3: was approved by FDI C one hundred. JP Morgan is

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Speaker 3: taking on one hundred and three billion in deposits.

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Speaker 4: I believe.

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Speaker 3: Eighty four branches or something like that, and eight states

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Speaker 3: will now reopen.

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Speaker 4: Today as JP Morgan James Banks.

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Speaker 3: Okay, So yeah, so let's let's really get into this situation.

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Speaker 5: Another example of you should only invest in the top

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Speaker 5: two in the space. JP Morgan is number one. Bank

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Speaker 5: of America is number two. I think Brian's a great CEO,

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Speaker 5: but Bank of America stock has not moved that much,

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Speaker 5: also living through their last recession. What you see normally

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Speaker 5: is that smaller banks get acquired by bigger banks.

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Speaker 4: At some point.

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Speaker 5: We'll go in deep and in detail about FED now,

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Speaker 5: but FED now has selected who their partners will be.

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Speaker 4: JP Morgan will be one of them.

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Speaker 5: So with the acquisition of or so, total win for

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Speaker 5: JP Morgan because now they get to ensure some safety

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Speaker 5: and it was needed. He stated that this level of

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Speaker 5: like bank collapses over this is not two thousand and seven,

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Speaker 5: in two thousand and eight, but we're going to see

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Speaker 5: the bigger banks get larger and the mid sized banks

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Speaker 5: are going to go away as a result, like P

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Speaker 5: and C got punished today. So it's no way that

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Speaker 5: you can. My baby's gonna call me. There's no reason

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Speaker 5: for you to invest in the bank number five through

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Speaker 5: ten if JP Morgan is sitting up there at number

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Speaker 5: one when they have all the favor of monks government.

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Speaker 5: And I want to be very clear when I say this,

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Speaker 5: the banking sector is not a great sector to invest

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Speaker 5: in anyway. There's only about four or five banks you

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Speaker 5: should invest in long term JP maybe one of them

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Speaker 5: if you're older. I wouldn't do it right now. But

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Speaker 5: this is a classic case of we're going to see

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Speaker 5: masses consolidation or doing this great reset depression period. We're

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Speaker 5: going to see that the market is going to go

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Speaker 5: down and the big banks are going to get bigger

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Speaker 5: resur results.

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Speaker 4: Yeah, and we saw this happening. This wasn't like surprise,

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Speaker 4: this came out of nowhere, Like we saw this happening

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Speaker 4: when we saw what happened with Signatury, and we saw

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Speaker 4: it happened with SVB. When people make a run on

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Speaker 4: the bank, right when they start withdrawing their deposits, that's

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Speaker 4: a fire, like that's the alarm, Like you got to

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Speaker 4: see that. And so when people saw that, they were

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Speaker 4: looking around to see which bank it's acceptable for another

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Speaker 4: another run, and right away people pinpointing that first Republic

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Speaker 4: would be next. Three weeks ago we covered it because

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Speaker 4: the big banks, the Big five, put thirty billion dollars

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Speaker 4: into these banks. Yep, that didn't help because during the

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Speaker 4: quarter last Monday, they reported that they lost one hundred

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Speaker 4: This is the first Republic. They lost one hundred billion

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Speaker 4: dollars worth of deposits during the first three months of

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Speaker 4: last year. This stock was down ninety seven percent. I

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Speaker 4: mean it was on a death spiral. This this is

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Speaker 4: the exact definition of a death sproal. Ninety seven percent

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Speaker 4: in three months. Of course, of course, what did we

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Speaker 4: think was going to happen? Right? It just so happened that.

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Speaker 4: I mean it's probably been going on in the works

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Speaker 4: because the number one depositor when they were putting money

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Speaker 4: into it was JP Morgan, and so they brought the government,

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Speaker 4: looked at fdi C said look, this is about the fold.

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Speaker 4: Who can help. Who's the number one depositor? Let's call JP.

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Speaker 4: They saved the day. They did it, just in the

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Speaker 4: niggad time before Monday morning, business open, and now those

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Speaker 4: branches that you know were once First Republic on Friday

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Speaker 4: are now JP Morgan. The problem is, so a lot

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Speaker 4: of people are like, well, what does this mean? What

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Speaker 4: does this mean? Doesn't mean much for the people who

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Speaker 4: had their money inside the dead Your money was there,

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Speaker 4: You're fine, right. The problem is what happens to the

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Speaker 4: people who were invested in the stock. Those people are

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Speaker 4: in trouble because even now if you look at it,

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Speaker 4: they don't have an idea. So JP Morgan did not

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Speaker 4: assume First Republics corporate debt or preferred stocks. So neither

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Speaker 4: JP or the fdi C have explicitly explicitly said that

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Speaker 4: they're going to purchase the means of First Republics common

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Speaker 4: shareholders the stocks. So if you had stock in it,

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Speaker 4: this is an unfortunate time. So what does that mean.

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Speaker 5: If it's over, it's going to go on receivership at

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Speaker 5: some point you make it a small settlement opinions.

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Speaker 4: On a dollar.

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Speaker 5: A few of you hear me this morning. The only

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Speaker 5: thing I can say is I'm sorry, not a time for.

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Speaker 4: Because even in the in the order of repayment, the

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Speaker 4: shareholders are last right, so it first. It goes to

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Speaker 4: the depositors, then it goes to the unsecured creditors, then

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Speaker 4: subordinated debt. Then after all that, then it's like, all right,

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Speaker 4: let's see if we can pay the shareholders back, which

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Speaker 4: it doesn't look like it's going to happen. So part

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Speaker 4: of the settlement, which chase, it has nothing to do

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Speaker 4: with all right, we're going to pay back to the shareholders.

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Speaker 4: So if somebody had This episode is brought to you

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Speaker 4: by P and C Bank. A lot of people think

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Speaker 4: pushing your vision forward.

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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

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Speaker 1: accused of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States

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Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 1: crossings are at the lowest levels ever recorded, and over

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Speaker 1: one hundred thousand illegal aliens have been arrested. If you

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Speaker 1: are here illegally, your next you will be fined nearly

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Speaker 1: one thousand dollars a day, imprisoned, and deported. You will

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Speaker 1: never return. But if you register using our CBP home

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Speaker 1: app and leave now, you could be allowed to return legally.

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Speaker 1: Do what's right, leave now. Under President Trump, America's laws,

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Speaker 1: border and families will be protected.

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Speaker 2: Sponsored by the State Department of Homeland Security.

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Speaker 4: Shares in First Republic Unfortunately. I mean, if you're paying

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Speaker 4: attention to your account, right and you're watching it go

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Speaker 4: down sixty percent, definitely got ninety. I'm not sure this

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Speaker 4: is the time when you're like, all right, let's see

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Speaker 4: if people go back. At that point, it should be like, hey,

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Speaker 4: there's there's a huge issue going on. There, or you

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Speaker 4: should be alert to that, or you should have maybe

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Speaker 4: a stop balls that would probably be the best thing.

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Speaker 4: And uh, again it's unfortunate.

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Speaker 5: And then also if you invest it in the stock,

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Speaker 5: I have to actually where you like actually banking with

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Speaker 5: the bank. I never have met one person that said

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Speaker 5: they banks with FRC ever. Like it goes back to

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Speaker 5: the classic example like sometimes if you're not using the

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Speaker 5: product that you're investing in, it's not a good investment.

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Speaker 5: If you don't know anyone else that's using it, not

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Speaker 5: the best investment. Once again, we're they top to in

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Speaker 5: the space. No, if they have a competitive advantage that

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Speaker 5: no one else has. No, like the easy Games of

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Speaker 5: twenty twenty are going companies that are constructed horribly should evaluations,

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Speaker 5: not the best customer base, they're going.

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Speaker 4: To go away shad. They said, okay, can you look

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Speaker 4: up if you're okay, he's okay, We're gonna get through this. No,

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Speaker 4: but this is the biggest collapse since two thousand and

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Speaker 4: Washington Mutual. Here is what they have in common. Who

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Speaker 4: was who did who purchased Washington Mutual? Kobe? I mean no,

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Speaker 4: who poaches Washington? JP Morgan Cheer there you go common theme, right,

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Speaker 4: common theme right for that was beer Sterns who pursues them?

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Speaker 4: JP Morgan chase common theme. Right. So when we talk

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Speaker 4: about pick ban getting big, the biggest just got bigger.

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Speaker 5: The bussor does not get a chance to bail somebody

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Speaker 5: out's going to go to JP. They have preferred treatment

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Speaker 5: amongst at a reserve in our United States government, and

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Speaker 5: you have to give them credit. Jamie is probably one

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Speaker 5: of the smartest bankers since like this is like easy pickings,

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Speaker 5: like when Lebron went through what he went through Miami

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Speaker 5: and prepared him from when he played the Golden State Wars,

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Speaker 5: Like this is easy money for Jamie. He's been through

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Speaker 5: this before. Two thousand and seven and eight were way worse.

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Speaker 5: This is an easy pick up, easy acquisition, game set match.

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Speaker 5: Banking is not the best sector to invest in. Only

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Speaker 5: do it if you're older, But if you are going

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Speaker 5: to do one, do so with JP Morgan.

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Speaker 4: I'm not just saying that because it's not endorsed, but

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Speaker 4: I mean just historically, if you look at even the

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Speaker 4: two thousand eight situation, the row that Jamie Diamond played

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Speaker 4: and pretty much saving the banking system. I mean again

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Speaker 4: here he is again getting another acquisition to add to

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Speaker 4: the portfolio. So yeah, the big, the big, the big

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Speaker 4: bank just took on another little bank.

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Speaker 3: Literally, yeah, what about what about Jim Kramer?

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Speaker 4: Was that? Was he being sarcastic? What are you doing?

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Speaker 3: On March tenth? He said, First Republic is the new focused,

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Speaker 3: very good bank.

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Speaker 4: He's had a history of this man, He's had a

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Speaker 4: history since So it's crazy. It's crazy because you bring

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Speaker 4: him up and again, this is a legend. We're not

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Speaker 4: throwing there on his thing. But since the moment he

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Speaker 4: cried when he did the crying thing with Meta, Yep,

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Speaker 4: he cried on camera because he I believe it was

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Speaker 4: stock and he cried, Like since that moment it went

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Speaker 4: up one hundred and seventy eight percent. You got one down.

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Speaker 4: But like now that they've had a whole meme, like

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Speaker 4: I told you, they created a whole ETF with that,

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Speaker 4: it goes to the opposition everything he says in that the

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Speaker 4: ECF is actually performing well. But what he said, I'm like, wait,

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Speaker 4: was he serious? Because this is March tenth was probably

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Speaker 4: the time when we were talking about all right, here

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Speaker 4: comes the big banks to come help them out and

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Speaker 4: add thirty billion in deposits to keep this one afloat.

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Speaker 4: I'm not sure what he saw.

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Speaker 5: I always say it any time, and we saw with

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Speaker 5: Stevendy like JJ Reddick lit up Steven Day saying, hey

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Speaker 5: and listen, I'm having a hard time just driving with

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Speaker 5: a tornum like let alone Kawhi playing. When you're doing

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Speaker 5: media that much five days a week, it's very hard

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Speaker 5: to be able to do research at the same time.

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Speaker 4: So and Jim's getting older.

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Speaker 5: I mean, he was gracious when I met him at

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Speaker 5: an honor to meet him last year, But doing the

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Speaker 5: show every single day doesn't give you enough time.

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Speaker 4: To do research. Even doing the show weekly, it's tough

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Speaker 4: for us. So we got some game playing to the

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Speaker 4: Blue Games. He got to tour m c l This

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Speaker 4: is but show must go on.

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Speaker 5: Speaking of which, get your tickets to Market Money's Live

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Speaker 5: in London. He got there and me and Troup is

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Speaker 5: having a little conversation before the show start. Y'all better

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Speaker 5: get these tickets because now I get to be in

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Speaker 5: charge of pricing, right, Okay, all is gonna be different,

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Speaker 5: and so what got us? So get your tickets now

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Speaker 5: so I can teach you how to master this market

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Speaker 5: before it turns over on you.

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Speaker 3: My graduates from my school being forced back.

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Speaker 4: Drop drop, Mike, drop Drop.

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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

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Speaker 1: accused of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J. Trump's leadership. I'm Christy Noman, the United States

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Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 1: crossings are at the lowest levels ever recorded, and over

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Speaker 1: one hundred thousand illegal aliens.

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Speaker 2: Have been arrested.

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Speaker 1: If you are here illegally, your next you will be

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Speaker 1: fine nearly one thousand dollars a day, imprisoned and deported,

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Speaker 1: you will never return. But if you register using our

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Speaker 1: CBP home app and leave now, you could be allowed

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Speaker 1: to return legally. Do what's right. Leave now. Under President Trump,

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Speaker 1: America's laws, border and families.

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Speaker 2: Will be protected. Sponsored by the United States Department of

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Speaker 2: Homeland Security,