Ep. 1687 - The Banking Meltdown Continues
The Ben Shapiro Show
The Daily Wire
4.4 • 152.4K Ratings
🗓️ 14 March 2023
⏱️ 61 minutes
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| 0:00.0 | As Joe Biden claims he's restored order to the markets, bank stocks drop like a stone. |
| 0:04.5 | The Federal Reserve can't put that inflation genie back in the bottle without tanking the banks. |
| 0:08.3 | And Donald Trump launches a new round of absurd attacks on Ronda Santis. |
| 0:12.3 | I'm Ben Shapiro. This is The Ben Shapiro Show. |
| 0:19.5 | Hey, hey, and welcome. This is the Ben Shapiro show. Today show is sponsored by ExpressVPN. |
| 0:22.8 | Thousands of my listeners have already secured their network data. Join them at ExpressVPN.com slash Ben. |
| 0:27.0 | So yesterday, the Biden administration announced that they were bailing out Silicon Valley Bank's |
| 0:31.2 | depositors, not the bank itself. This is going to be a serious problem going forward, not because |
| 0:35.9 | the depositors are going to have their |
| 0:37.6 | deposits wiped out. Remember, when you deposit money into a bank covered by the Federal |
| 0:42.2 | Deposit Insurance Corporation, what you are doing is having the first $250,000 insured against |
| 0:47.9 | complete loss. That is a thing that was put in place in the aftermath of bank runs of the |
| 0:52.2 | early Great Depression. But now the |
| 0:54.9 | federal government has basically suggested that if you put your money in a bank that is supported |
| 0:58.5 | by the FDIC, then you're going to get back all of your money. So all the people who had put |
| 1:02.8 | their money in Silicon Valley Bank will be able to get their money out. But that doesn't actually |
| 1:07.0 | solve the entire problem as we're about to discuss in just one second. Because here |
| 1:12.0 | is the bigger, bigger problem. The people who are not going to be bailed out here are the Silicon |
| 1:16.6 | Valley Bank investors. All of those investors are probably going to just take it. And that's true |
| 1:22.4 | for a large number of these regional banks. If a regional bank goes under, the depositors will |
| 1:26.6 | probably be bailed out by the federal government, under, the depositors will probably be bailed out |
| 1:27.5 | by the federal government, but all of the investors will not be bailed out by the federal |
... |
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