Breaking the bank: First Republic collapse doesn’t mean banking system is failing

First Republic Bank is no more, as the wobbling 14th largest U.S. bank was seized by the Federal Deposit Insurance Corp. and mostly resold at auction. Depositors will all retain their funds, with the big losers being the shareholders. Tough luck; investing always carries some level of risk. Yet it’s good that those who were simply parking their personal or business funds in the bank won’t face a catastrophic loss that can reverberate further through the economy. The big winner is JPMorgan Chase, which purchased First Republic’s assets, expanding the footprint of the world’s largest bank (which...