First Republic rescue may rely on US government intervention to shore up the bank

Bloomberg (gated) with the report. In (very) brief:

Wall Street Wall Street Wall Street is part of the Financial District in New York City and one of the most iconic streets in the world. It is synonymous with US financial markets, and home to the world’s two largest stock exchanges by market capitalization – the New York Stock Exchange and NASDAQ.The area is also home, be it presently or historically to many other key exchanges. This includes the New York Mercantile Exchange, the New York Board of Trade, the New York Futures Exchange (NYFE), and the former American Sto Wall Street is part of the Financial District in New York City and one of the most iconic streets in the world. It is synonymous with US financial markets, and home to the world’s two largest stock exchanges by market capitalization – the New York Stock Exchange and NASDAQ.The area is also home, be it presently or historically to many other key exchanges. This includes the New York Mercantile Exchange, the New York Board of Trade, the New York Futures Exchange (NYFE), and the former American Sto Read this Term leaders and US officials discussing an intervention at First Republic Bank are exploring the possibility of government backing to encourage a deal that would shore up the lender, people with knowledge of the situation said.

Among options

• the government could play a role in lifting assets out of First Republic that have eroded its balance sheet
• offering liability protection,
• applying capital rules more flexibly
• or easing limits on ownership stakes,

the people said. The talks are continuing. A variety of issues remain unresolved and an agreement isn't guaranteed, the people said.

Taxpayers will feel a warm glow knowing they are instrumental in rescuing the bankers.