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How the latest bank failure reshaped the financial industry overnight
May 1, 2023

How the latest bank failure reshaped the financial industry overnight

May 1, 2023
The embattled First Republic Bank, one of the institutions caught in the wake of Silicon Valley Bank's collapse, was acquired overnight by federal regulators and sold to JPMorgan Chase. It's a massive, multi-billion dollar deal that makes America's largest bank even larger. Erik Gordon, professor at the University of Michigan, explains what the collapse says about the financial industry. Plus, we look at how the construction industry is dealing with an ever-present shortage of workers.