First Republic Bank sold to JPMorgan Chase

Regulators seized troubled First Republic Bank, making it the second-largest bank failure in U.S. history, and promptly sold all of its deposits and most of its assets to JPMorgan Chase in a bid to end the turmoil that has raised questions about the health of the U.S. banking system. LiveNOW's Andrew Craft spoke with Adam Kobeissi, editor-in-chief of thekobeissiletter.com, about JPMorgan Chase's takeover of First Republic bank. More LiveNOW from FOX streaming video