Banks resume slide as First Republic gets $30B in deposits. When was throwing money at a problem the answer?

Quick Take

• First Republic Bank’s share price is down 50% in the past 5 days and got 11 major U.S banks to pledge $30 billion, but the stock continued to slide during today’s pre-market, down 14%.
• Credit Suisse is also down 9% during pre-market.
• SVB financials files for chapter 11 bankruptcy in New York
• As a result, Gold increases gains by 1% to $1,936.
• Bitcoin extends gain approaching $27,000.

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