This Is The 3rd Midsized Bank to Fail in Less Than 2 Months | EWTN News Nightly

About this sermon

First Republic Bank became the third midsized bank to fail in less than 2 months. First Republic Bank is now the second largest bank failure in US history, after selling all of its deposits and assets to JP Morgan Chase. This comes in a time of turmoil for the economy after the failures of Silicon Valley Bank and Signature Bank in March. President and Chief Investment Officer for the Knights of Columbus Asset Advisors, Tony Minopoli, joins to break down what was behind JP Morgan buying the deposits and most of the assets of First Republic Bank and why it happened. Minopoli discusses how that impacted the customers of First Republic and whether it could impact the rest of us in any way. President Biden spoke about this and reassured Americans that our banking system is safe and that all deposits with the First Republic Bank will be protected. Minopoli talks more about that and whether he thinks the president's reassurances are enough to make Americans feel secure about our banking system. As 3 midsized US banks have collapsed recently, Minopoli shares which one does raise concern, what he believes the root of this is and how we can protect ourselves and our assets. He explains where he sees this going. ------------ EWTN News Nightly provides the latest news and analysis from a Catholic perspective. Join host Tracy Sabol, our Capitol Hill, White House and Rome Correspondents, as well as many other diverse guests daily, to get the latest from the U.S. and the Vatican on topics regarding our Catholic faith and interests. ------------- EWTN News Nightly airs on EWTN weekdays at 6pm & 9pm ET. ------------ Don't miss an episode of EWTN New Nightly. Get updates here: https://www.ewtn.com/tv/shows/ewtn-news-nightly ------------- Sign up today to receive the EWTN News Nightly newsletter: https://www.ewtn.com/enn ------------- Follow EWTN News Nightly on Social Media: Facebook: https://www.facebook.com/ewtnnewsnightly Twitter: https://twitter.com/EWTNNewsNightly Instagram: https://www.instagram.com/ewtnnewsnightly/ ------------- Subscribe to EWTN YouTube channel here: https://www.youtube.com/user/EWTN ------------- You can support the EWTN News mission: https://bit.ly/3qDR1qf