JP Morgan Buys First Republic Bank. Here's What it Really Means for Us.

Treasury Secretary Janet Yellen was clear a few weeks back: All The Banks are Equal, But Some are More Equal Than Others.

When a bunch of banks came together to "support" First Republic Bank when it started to falter, economist Dr. Matt Will said it clearly: These banks are getting in line...hoping to buy First Republic up at a discount.

JP Morgan got the sweetheart deal, which includes guarantees and the FDIC covering losses.

Once again, big banks make bank and the American people pay for it. Right?

Dr. Will explains what happened to First Republic Bank, how the government gave JP Morgan the deal and what it means for smaller banks and their depositors...like you.

Presented by Americans For Prosperity. http://americansforprosperity.org