Jamie Dimon is vying to take control of First Republic Bank, report says, after JPMorgan steered clear of SVB
Dimon's active involvement in First Republic contrasts his decision to steer clear of any rescue for Silicon Valley Bank.
Regulators bailed out SVB's customers, many of which were startups with huge amounts of their deposits uninsured at the time of the bank's collapse. With SVB, Dimon was more vocal in urging against tighter regulation, arguing they wouldn't have stopped a run on its deposits. "It is extremely important that we avoid knee-jerk, whack-a-mole or politically motivated responses that often result in achieving the opposite of what people intended," DimonJPMorgan declined to comment. PNC didn't immediately respond to Insider's request for comment.Subscribe to push notifications
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