Federal regulators have seized the First Republic Bank. The Associated Press (AP) reports it’s the second-largest bank failure in U.S. history. U.S. Rep. Blaine Luetkemeyer (R-St. Elizabeth), who serves on the House Financial Services Committee on Capitol Hill, tells “Wake Up Mid-Missouri” that First Republic Bank was highly-leveraged and was poorly managed. We asked Congressman Luetkemeyer if Congress should hold hearings into the bank’s failure:
![(AUDIO): U.S. Rep. Blaine Luetekemeyer (R-St. Elizabeth) discusses First Republic Bank’s failure on “Wake Up Mid-Missouri” (AUDIO): U.S. Rep. Blaine Luetekemeyer (R-St. Elizabeth) discusses First Republic Bank’s failure on “Wake Up Mid-Missouri”](https://kwos.com/wp-content/uploads/2019/12/BlaineLuetkemeyer-660x330.jpg)