Hear what weakened First Republic Bank and triggered $30B bailout
First Republic Bank, facing a crisis of confidence from investors and customers, is set to receive a $30 billion lifeline from a group of America's largest banks. The bank's problems underscored continued worries about the banking system in the aftermath of the collapse of Silicon Valley Bank and Signature Bank. CNN's Christine Romans explains how the cash infusion is meant to head off a domino effect of more bank failures and demonstrate the industry still has a solid foundation.
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The government's response to the failure of two large banks has already involved hundreds of billions of dollars. So will ordinary Americans end up paying for it, one way or another? And what will the price tag be?
While Wall Street works to contain the biggest American bank failure since the 2008 financial meltdown, founders of startups who are people of color worry it could become even harder to secure financial support.
