Short sellers have made bank betting on First Republic’s free fall

First Republic Bank stock is down 97% in 2023, and this afternoon a takeover by the Federal Deposit Insurance Corp. looked imminent. Thing is, short sellers have made more than $1 billion betting that First Republic would fall. Is that good for financial stability? Plus, we’ll look into the “We buy ugly houses” business and discuss how new economic data will influence the Federal Reserve’s next move.