One of the most plugged-in high financiers thinks troubled regional bank First Republic Bank will need more than a few bucks from stronger rivals to stay afloat and prevent the return of the banking turmoil that dominated March's headlines.
“I think First Republic Bank is clearly on a watchlist, and probably somebody at some point will buy it. But the challenge there is that it needs government assistance,” The Carlyle Group co-founder David Rubenstein said in a lengthy chat on Yahoo Finance Live.
Rubenstein believes First Republic Bank’s finances are in such rough shape the government will have no choice but to step in.
“I think First Republic Bank is clearly on a watchlist, and probably somebody at some point will buy it. But the challenge there is that it needs government assistance,” The Carlyle Group co-founder David Rubenstein said in a lengthy chat on Yahoo Finance Live.
Rubenstein believes First Republic Bank’s finances are in such rough shape the government will have no choice but to step in.
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JPM: No Crisis
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