What goes up, must come down. Unless you’re a banker. In which case it’s up, up and away with bailouts and low interest loans! Today’s episode is an accessible explainer of the unfolding banking crisis. It explains the basics of banking business models, where certain banks have exposure, the regulatory environment and some predictions as to what happens next. Hopefully, you walk away with slightly more insight into the current crisis, why it’s happening and what’s at stake.
Chapters:
Intro: 00:00:30
Chapter One: All for one, one for all. 00:02:37
Chapter Two: Mark to Market. 00:06:36
Chapter Two and a Half: Fox Never Wastes a Crisis. 00:13:15
Chapter Three: What comes next? 00:15:31
Post Show Musings: 00:20:44
Outro: 00:30:48
Resources
Forbes: What To Know About Silicon Valley Bank's Collapse—The Biggest Bank Failure Since 2008
Forexlive: The hold-to-maturity problem is a real headache. The only remedy is stable deposits
Lyn Alden: March 2023 Newsletter: A Look at Bank Solvency
UBS: US bank turmoil: FAQ and investment implications
Wikipedia: September 2019 events in the U.S. repo market
Axios: The story behind Founders Fund and the run on Silicon Valley Bank
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Show Notes [Ep 96: Williamson and Kennedy: Damaging the Brand.]
Williamson and Kennedy: Damaging the Brand. Sorry, not sorry.
Show Notes [Ep 95: Fox Untucked, Noam Undone, Taibbi Unhinged.]
Fox Untucked, Noam Undone, Taibbi Unhinged: The Toxic Mix of Money and Patriarchy.
Show Notes [Ep 94: Dismantling the Oligarchy.]
Dismantling the Oligarchy: The Political Class is Intellectually Bankrupt.
Show Notes [Ep 93: Updated Tax Evasion Figures.]
Updated Tax Evasion Figures: Lifestyles of the Rich and Fraudulent.
Show Notes [Ep 92: The End of Affirmative Action.]
The End of Affirmative Action: Civil rights advocates brace for the worst.
Show Notes [Topical Cream 11: Hochul's “Gift.”]
Hochul’s “Gift.” NY Governor Does it Again.
Show Notes [Ep 91: Has “Creative Destruction” Reached Silicon Valley?]
Has “Creative Destruction” Reached Silicon Valley? The Capitalism Trap.
Show Notes [Ep 90: Contagion!]
Weaponizing “Woke.” Dumb Right-Wing Tropes.
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