Ep 350: Should I Freak Out About the SVB Bank Collapse?

Brown Ambition

iHeartPodcasts

Careers, Education, Self-improvement, Investing, Business

4.9 • 2.5K Ratings

🗓️ 15 March 2023

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Mandi Money is here to breakdown the silicon valley bank collapse and if we should be concerned or not! Mandi breaks down what FDIC insurance is and how that protects us from losing our money in banks. She goes on to explain that the wealthy investors in Silicon Valley are taking a big risk by keeping more money in SVB that is insured by the FDIC. Mandi assures us that as long we keep under 250k cash limit in our checking account, we are safe! Drop us a note at [email protected] or hit us up on Instagram @brownambitionpodcast. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Hey, hey, B.A. fam.
0:07.8	Brown Ambition is back.
0:09.4	I am writing solo today and I cannot even tell y'all.
0:14.1	I know I shouldn't have a big fat smile on my face because a bank did just collapse and
0:19.2	another one is right behind it.
0:21.6	And understandably, a lot of y'all are freaked the f out about what has been happening.
0:27.0	Now if you've been living under a rock or you are not a part of a family group chat that
0:31.8	has been popping off and everyone who's like, I keep my money rolled up in my socks or
0:38.0	in my mattress and they're not gloating to you right now.
0:42.2	Let me get you up to speed on what's been going on.
0:45.2	Why do I have a big smile on my face?
0:47.4	I just love this stuff.
0:49.2	Y'all know my background is as a business reporter.
0:52.4	I spent years covering finance and business for sites like Yahoo Finance and Business Insider
0:58.2	and then I ran a whole damn content team for five years for a Fintech company and our
1:03.4	whole job was to break down really like confusing complex personal finance topics and help y'all
1:11.1	understand what's going on so that you can live in this calm, you know, serene sort of
1:17.5	state of mind that I live in because I know when to worry and I would say now is not
1:23.4	the time for people like you and I to be freaking out.
1:26.7	All right.
1:27.7	So I do want to walk through what the heck has happened with the Silicon Valley bank
1:32.5	collapse, which I'm recording this a few days after that collapse has happened.
	...

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