In a stunning bid to stem the financial contagion and
reassure the world of the stability of America's
financial system, 11 of America's largest banks rallied
on Thursday to inject $30 billion into First Republic
Bank, a small partner that Talbank is on the brink of
collapse after Silicon's implosion last year. The plan,
born Tuesday in a phone call between Treasury
Secretary Janet L. Yellen and JPMorgan Chase chief
executive officer Jamie Dimon, calls for all banks to
deposit at least $1 billion in the First Republic. This is
intended as a sign of support for the First Republic
and a signal to the market that the San Francisco
lender's problems are not a reflection of the bank's
deeper problems. Yellen said such a move by the
private sector would boost confidence in the health of