Los Angeles | Top investors have warned against complacency following the rescue of First Republic, arguing the third seizure of a bank by US regulators since March threatens to constrain credit and worsen an economic slowdown.
The seizure of First Republic and the rapid sale of the remains of the bank to JPMorgan was thrashed out in the early hours of Monday morning local time as investors and financiers descended on Beverly Hills for the Milken Institute conference, one of the biggest gatherings of its kind.
