Regulators Seize First Republic -- and JPMorgan Chase Takes It Over 5/1/23

Carl Quintanilla, Jim Cramer and David Faber engaged in a wide-ranging discussion about the second-biggest bank failure in U.S. history. First Republic Bank was seized by regulators and sold to JPMorgan Chase, after JPM agreed to assume all of the bank's deposits and significant assets. The anchors explored what it all means for the banking sector -- and reacted to conference call comments made by JPMorgan Chase CEO Jamie Dimon. Also in focus: What to expect from the markets in May, Morgan Stanley's Adam Jonas upgrades GM to "overweight," the chip stock that's among Monday's biggest gainers, plus David's interview with Apollo Global Management CEO Marc Rowan from the Milken Institute Global Conference. Squawk on the Street Disclaimer