A Third Bank Implodes. Now What?

<p>On Monday morning, the federal government took over a third failing bank — this time, First Republic.</p><p>Jeanna Smialek, an economy correspondent for The Times, discusses whether we are at the end of the banking crisis, or the start of a new phase of financial pain.</p><p>Guest: <a href="https://www.nytimes.com/by/jeanna-smialek">Jeanna Smialek</a>, an economy correspondent for The New York Times.</p><p>Background reading: </p><ul><li>First Republic bank was<a href="https://www.nytimes.com/2023/05/01/business/first-republic-bank-jpmorgan.html"> seized by regulators</a> and sold to JPMorgan Chase.</li><li><a href="https://www.nytimes.com/2023/04/28/business/takeaways-bank-failures.html">Key takeaways</a> from regulatory review of bank failures.</li></ul><p>For more information on today’s episode, visit <a href="http://nytimes.com/thedaily?smid=pc-thedaily">nytimes.com/thedaily</a>. Transcripts of each episode will be made available by the next workday.</p>