The leaders of JP Morgan Chase have bailed out the US Financial system countless times in the last 100 years. This week Jamie Dimon did it again with rallying the big bank CEOs to put $30B into First Republic (14th largest bank) days after SVB (16th largest bank) failed. Of course in many ways this is self preservation, as Jamie seeks to avoid contagion that would hurt his bank, but I digress. What I want to know is why didn't Rich Fairbank at Capital One, who supposedly wants to Change Banking for Good not participate? Most everyone else in the top 10 big banks invested $1+B. Does Rich not get along with Jamie?
Capital One doesn't have any retail banking in California; they just have Capital One Cafes around. Any deposit flight from First Republic doesn't reach Capital One. In other words, people who withdraw from First Republic won't open accounts with Capital One.
There’s First Republic branches in NYC
Commercial banks injected deposits to keep FRC afloat. Capital One doesn’t have much of a deposit business - they’re a credit card issuer. They need deposits.
Read the graph from OP again.
JD 4 Prez
pretty sure he already is the prez