that comes after the embattled endo revealed it suffered a huge file and deposits the first quarter. it became under pressure after other banks collapsed last month. we have more from new york. normally when a companies earnings for a quarter are released executives hold a call with analysts where they take questions but that was not the case for first republic bank. executive spoke for about ten minutes and then took no questions. it is perhaps an indication ofjust how bad things had become at the regional bank. during the first quarter, it lost $102 billion in customer deposits. that s way more than half of the $176 billion it had on hand at the end of last year. after
it comes after the embattled lender revealed that it suffered a huge drop in deposits during the first quarter. first republic came under intense pressure after silicon valley bank and signature bank collapsed last month. the bbc s samira hussain has more from new york. normally when a company s earnings for are released, executive hold a call with analysts where they take questions. but that wasn t the case for first republic bank. executives spoke for about ten minutes and then took no questions. it is perhaps an indication ofjust how bad things have become at the regional bank. during the first quarter, it lost $102 billion in customer deposits. that s way more than half of the $176 billion it had on hand at the end of last year. after silicon valley bank and signature bank were taken over by federal regulators, wall street worried that first republic could be the next bank to go down,
first republic came under intense pressure after silicon valley bank and signature bank collapsed last month. the bbc s samira hussain has more from new york. normally when a company s earnings for are released, executive hold a call with analysts where they take questions. but that wasn t the case for first republic bank. executives spoke for about ten minutes and then took no questions. it is perhaps an indication ofjust how bad things have become at the regional bank. during the first quarter, it lost $102 billion in customer deposits. that s way more than half of the $176 billion it had on hand at the end of last year. after silicon valley bank and signature bank were taken over by federal regulators, wall street worried that first republic could be the next bank to go down,
nancy pelosi s husband paul, reese witherspoon and khloe kardashian and tom brady. that cost $953 billion the university of texas has estimated that 15% of ppp claims about 76 billion were fraudulent. and the government workers tasked with tracking these people down are overwhelmed, about 50 agents in a small business administration office are reviewing 2 million potentially fraudulent loan applications. there are 500 people working on pandemic fraud cases across the offices of 21 inspectors general, plus fbi, secret service, postal inspection service and the irs. in cases where the loans are for $10,000, it would cost the government more than $10,000 to investigate and prosecute. earlier this month, president biden signed bills extending the statute of limitations from 5 to 10 years for fraud involving the paycheck protection program and economic injury disaster loans.
will: all started in the 19 70s with sally may and the federal government started subsidizing education and we know from economics and history and you subsidize something, the price goes up and healthcare and education. in the 1970s, they started sally may to make it easier to get a college education through a college loan. pete: increasingly they got rid of the limits and 80s and 90s they opened up the amounts you can borrow and parents borrow for graduate school and the amount of dollars students were borrowing went up and cost of tuition went up. will: it s a massive boondoggle to the university system about to receive $10,000 in forgastroentforgiveness they ve. the universities are sitting on $200 billion. they got recently $76 billion in covid relief funds. pete: if you ask a lot of people in universities or colleges at