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This Is a Bailout, Not a Market-Based Acquisition

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This Is a Bailout, Not a Market-Based Acquisition
A worker cleans windows at a First Republic Bank office in San Francisco, Calif., on May 1, 2023. Justin Sullivan/Getty Images
Jeffrey A. Tucker
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Commentary

The weekend brought us the news that JPMorgan Chase bought the failing First Republic Bank, with numbers that are truly mind-boggling and further shore up JPMorgan’s megabank status. For many readers, this came across as fancy high finance and nothing much to concern us, especially since the numbers are essentially incomprehensible to the regular person.

Jeffrey A. Tucker
Jeffrey A. Tucker
Author
Jeffrey A. Tucker is the founder and president of the Brownstone Institute and the author of many thousands of articles in the scholarly and popular press, as well as 10 books in five languages, most recently “Liberty or Lockdown.” He is also the editor of “The Best of Ludwig von Mises.” He writes a daily column on economics for The Epoch Times and speaks widely on the topics of economics, technology, social philosophy, and culture. He can be reached at [email protected]
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