FDIC Calls on Wall Street to Make Bids for First Republic by Sunday

As First Republic Bank stock collapsed to near zero on Friday, April 28, press reports say that the FDIC has called on Wall Street to come up with bids on First Republic by Sunday, April 30, with expectations that the FDIC will take over on Sunday if there is no buyout. JPMorgan Chase and PNC are reported to be interested in a buyout if the government offer meets their interest.