A Fox News reporter said Thursday that multiple sources have told him that more than a dozen regional banks are “very impaired” in the wake of First Republic Bank’s collapse.
“The big banks, I believe, the J.P. Morgans, the Bank of America, CitiGroup, Wells Fargo, they’re well-capitalized, they’re diversified and do different things, but we have a problem with regional banks,” Charlie Gasparino said.
“And what is the problem? The problem is we printed a ton of money, we spent a ton of money from the federal government. Those banks went out on the spectrum, as gamblers always do, when you give them free money, and they invested in risky stuff. They loaded up on capital at the top of the market.”
