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Billion worth of assets. jpmorgan stepping in as a buyer and assuming responsibility. we're less than 30 minutes before the opening bell. we want to see how wall street reacts, futures down but only a little bit. wall street seems to be taking this in stride. this is the second largest bank failure in u.s. history, the largest since the 2008 financial crisis and the third u.s. bank to fail since march. cnn chief business correspondent chri christine romans is with us. explain what happened and why. >> 830 employees doing due diligence this weekend. there were several bidders. jpmorgan chase go...

Simply became unsustainable. first republic was losing tens of billions of dollars of deposits. its share price was down by 97% in the span of just weeks, so something had to be done, and california regulators, they decided to step in and just shut it down. the fdic seized control, and after a competitive bidding process, they sold it to jpmorgan. let me run you through some of the numbers here. jpmorgan is paying $10.6 billion to the fdic to buy most of first republic. crucially, jp morkmorgan is acqg all $92 billion in deposits at first republic, and they're taking on about $173 billion in f...

Dutch, spain, portugal, they should all be giving like the germans and the polls. mike: all the stuff expensive. for those here at home who say we have problems here at home, admiral, make the case for why this is critical to fight this battle over there? >> you know, that's great a point. one thing that i would mention for about $40 billion so far, you know, going is now going to scale $92 billion of military aid over spring and summer. we are removing one of the most significant military threats to the united states off the battlefield, you know, the uk estimates that 92% of the russian army...

How you achieve net savers it is vital. the last farnborough airshow in 2018 it was $192 billion worth of commercial single deals done injust five days. think of that supply chain and the jobs five days. think of that supply chain and thejobs it five days. think of that supply chain and the jobs it creates in the value. chain and the “obs it creates in the value. ~ ., ,., chain and the “obs it creates in the value. ~ ., ., . value. with the global economic turmoil were _ value. with the global economic turmoil were facing _ value. with the global economic turmoil were facing the - value. w...

Conference taking place looking at supporting ukraine and the humanitarian aid that is needed. what would you like to see come out of it? i what would you like to see come out of it? ., ~' what would you like to see come out of it? ., ~ ., , ,., of it? i would like to see some secific of it? i would like to see some specific steps _ of it? i would like to see some specific steps that _ of it? i would like to see some specific steps that will - of it? i would like to see some specific steps that will be - of it? i would like to see some | specific steps that will be taken of it? i would like to...