Following the second largest bank failure in U.S. history, First Republic Bank has been sold to J.P. Morgan. CNBC Senior Markets Correspondent Dominic Chu, NBC News White House Correspondent Monica Alba, and Wall Street Journal Chief Economics Correspondent Nick Timiraos join Andrea Mitchell to react. “We had an earthquake when Silicon Valley Bank failed in mid March, and earthquakes can destabilize other buildings, they can weaken other buildings around the epicenter of that quake, and that's what happened here,” says Timiraos. “When they reported earnings last week, and they made clear the extent of just how much money had gone out the door, after the failure of SVB, people began to say ‘wait a minute, is this bank really viable?’” » Subscribe to MSNBC: Follow MSNBC Show Blogs MaddowBlog: ReidOut Blog: MSNBC delivers breaking news, in-depth analysis of politics headlines, as well as commentary and informed perspectives. Find video clips and segments from The Rac
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)