Brooks and Capehart on the turmoil in the banking sector
PBS News Hour - Brooks and Capehart
PBS NewsHour
4.5 • 1.2K Ratings
🗓️ 17 March 2023
⏱️ 11 minutes
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| 0:00.0 | This week, government leaders work to safeguard the U.S. banking industry, U.S. Russia tensions |
| 0:06.4 | heat up. |
| 0:07.4 | And three years after the COVID lockdowns, many Americans are asking, are we better prepared |
| 0:12.4 | for the next viral threat? |
| 0:14.6 | For analysis, we have Brooks and K-PART, that is, New York Times columnist David Brooks |
| 0:19.4 | and Jonathan K-PART, associate editor for The Washington Post. |
| 0:23.2 | Welcome to you both. |
| 0:24.2 | Good to see you. |
| 0:25.2 | Let's start with the banking industry, David, because after the failure of two U.S. |
| 0:28.9 | banks, we saw the administration step in very quickly, right? |
| 0:32.6 | A short depositors, they would be made whole. |
| 0:35.0 | We just saw 11 banks now step in with a $30 billion rescue plan to shore up another bank |
| 0:40.4 | out in San Francisco. |
| 0:41.8 | Clearly, the anxiety around all of this isn't gone, though, yet. |
| 0:44.8 | Yeah, if you look at the Mr. Dow Jones, this is very unhappy. |
| 0:49.4 | The markets are volatile. |
| 0:50.4 | It seems to me there are two immediate political things that are germane to politics and are |
| 0:54.6 | wider than that national life. |
| 0:56.3 | The first is this bank informed its investment strategy in a low interest rate environment, |
| 1:02.5 | which is what we've had for 40 years, and which we no longer have. |
| 1:06.2 | And so a bank that just invests disproportionate amount of money and treasuries is suddenly |
| 1:10.0 | going to suffer, because they're not going to keep up with inflation. |
... |
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