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Marketplace

Bad debt prep

Marketplace

Marketplace

News, Business

4.6 β€’ 8.5K Ratings

πŸ—“οΈ 14 October 2024

⏱️ 29 minutes

🧾️ Download transcript

Summary

JPMorgan Chase and other major banks are setting aside extra cash in anticipation of an uptick in bad loans. Lending always comes with some risk, but right now, banks are worried about a few specific types of debt. Also in this episode: Some discouraged job seekers aren’t included in the official unemployment tally, OPEC downgrades its demand forecast β€” again, and Russian bots take over online poker games.

Transcript

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0:00.0

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0:05.0

database, and application development with AI built in.

0:09.0

And Oracle Sovereign Cloud helps you address requirements for location, access, and data residency.

0:16.2

Take a free test drive at oracle.com.

0:19.8

Marketplace. In which we dip a toe into place.

0:23.0

In which we dip a toe into corporate profit reports to see what we might learn.

0:29.0

From American Public Media, This is marketplace. In Los Angeles, I'm Kyle Risdall. It is Monday, today, the 14th of October.

0:47.0

Good as always to have you along, everybody.

0:49.3

The cast of characters that affect what happens in this economy start obviously with

0:54.2

consumers we talk about all the time it then snakes its way through small

0:58.5

businesses government whether the politicians that be Congress in the White House

1:02.4

or independent agencies like the Federal Reserve.

1:05.0

It also makes a stop in corporate America, which is where we start today.

1:10.0

We're going to be hearing a lot from the big companies in this economy in the next couple of weeks

1:13.8

as those that are publicly traded release earnings reports for the most recent quarter.

1:18.4

Banks started us off this past Friday, JP Morgan Chase and Wells Fargo.

1:23.0

More will report tomorrow.

1:25.0

And a theme that's emerging

1:27.0

is that many of those banks have been setting aside

1:29.2

more cash to cover bad loans.

1:32.1

Marketplace's Justin Ho gets his going with why banks are getting more cautious.

1:36.4

Banks always stock away some cash to cover loan losses.

...

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