Bank Crisis Cleanup & the Morality of WFH 5/19/23

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 19 May 2023

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Elon Musk says remote work is a moral issue; CNBC’s Jon Fortt explains both sides of the worker’s moral compass. Simon Johnson, MIT professor and former IMF chief economist, discusses the banking crisis, why it’s inappropriate to compare it to the 2008 meltdown, and what lessons can be drawn from the current turmoil. Debt ceiling negotiations between the country’s top political leaders are expected to continue into the weekend as they face a June 1 deadline at which point the U.S. could default on its bills. Plus, Disney is scrapping plans to build a new campus in Florida and Twitter is accusing tech giant Microsoft of misusing its data. In this episode: Simon Johnson, @baselinescene Jon Fortt, @jonfortt Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C. NBC producer Katie Kramer today on Squackpot.
0:09.0	Picking up the pieces from America's near-miss banking crisis,
0:13.0	former IMF chief economist Simon Johnson.
0:16.0	This was a massive regulatory and supervisory failure.
0:18.0	Maybe a wake-up call, so that might be useful.
0:21.0	And the morality of your home office.
0:24.0	He also get off the go
0:25.0	a moral high horse with the work from home.
0:27.0	What Tesla's leader said about working from home
0:30.0	with the NBC's John Ford.
0:32.0	My favorite thing about this though is that Elon Musk, the richest man in the world, is making an inequality argument.
0:38.0	Disney's latest move against Florida Governor Ron DeSantis,
0:41.0	the debt ceiling deal in the balance and what that means for the Fed hitting pause.
0:46.3	If they get a deal, maybe you do, if you don't, then they don't.
0:50.3	Plus Twitter is pointing a finger at Microsoft, Data, Tech Engineers,
0:55.0	oh and more Elon Musk.
0:57.0	When Elon Musk left, you know, they threw like a party.
1:00.0	I mean, it was like, no, no, no.
1:01.0	It's Friday, May 19th, 2023, Squack Pod begins right now.
1:07.0	Stand Becky by in three, two, one, queue please.
1:11.0	Good morning, everybody. Welcome to Squawk Box here on
	...

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