In Brief: When Should Banks Be Saved? (with Sheila Bair)

Stay Tuned with Preet

Vox Media Podcast Network

News, Society & Culture, Politics, Government

4.8 • 32.4K Ratings

🗓️ 20 March 2023

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

Sheila Bair is the former chair of the FDIC where she was a central figure in decision making during the financial crisis in 2008. Preet and Bair discuss whether the defunct Silicon Valley Bank should have received a bailout from the government and why Bair believes the Federal Reserve should stop raising interest rates. Stay Tuned in Brief is presented by CAFE and the Vox Media Podcast Network. Please write to us with your thoughts and questions at letters@cafe.com, or leave a voicemail at 669-247-7338. References & Supplemental Materials: Sheila Bair, “US regulators are setting a dangerous precedent on Silicon Valley Bank,” Financial Times, 3/14/23 Sheila Bair, “Bull by the Horns: Fighting to Save Main Street from Wall Street and Wall Street from Itself,” Simon & Schuster, 2008 Listen to the new season of Up Against The Mob with Elie Honig. To attend a live taping of Up Against The Mob with Preet Bharara and Elie Honig on Tuesday, March 21 at 6:00pm ET, RSVP here: cafe.com/live For analysis of recent legal news, try the CAFE Insider membership for just $1 for one month: cafe.com/insider. Check out other CAFE shows Now & Then and Up Against the Mob. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Support for this show comes from the Genesis GB70 Performance SUV. Every Genesis is a reminder
0:07.6	to try something bold to keep growing, keep hustling. At Genesis, they've harnessed all
0:15.0	that excitement of beginnings into their performance SUV, the GB70. It's a car built to turn
0:22.4	heads with stunning design inside and out. It's packed with intuitive technology inside,
0:28.6	like the 14.5-inch infotainment system, and fingerprint recognition plus the GB70 features
0:35.2	all-wheel drive, which is bound to add a little more acceleration to your next drive.
0:40.2	Your Genesis GB70 is waiting for you. What will you begin? Learn more at Genesis.com. Genesis,
0:48.8	keep beginning. Support for this show comes from the Genesis GB70 Performance SUV. Every Genesis
0:58.5	is a reminder to try something bold to keep growing, keep hustling. At Genesis, they've harnessed
1:06.8	all that excitement of beginnings into their performance SUV, the GB70. It's a car built to turn
1:14.4	heads with stunning design inside and out. It's packed with intuitive technology inside,
1:20.6	like the 14.5-inch infotainment system, and fingerprint recognition plus the GB70 features
1:27.6	all-wheel drive, which is bound to add a little more acceleration to your next drive. Your Genesis GB70
1:34.2	is waiting for you. What will you begin? Learn more at Genesis.com. Genesis, keep beginning.
1:48.4	From Cafe in the Vox Media Podcast Network, this is Stay Tuned in Brief. I'm Preet Barara.
1:55.6	The failure of Silicon Valley Bank has sent shockwaves across the country and throughout the markets.
2:01.2	Not since the financial crisis nearly 15 years ago has the banking system faced this level
2:06.0	of vulnerability according to many. On March 10, the Federal Deposit Insurance Corporation
2:11.2	or FDIC took over the bank, which had been the 16th largest in the country. A day later,
2:17.3	signature bank was also put under government control, making it the third largest bank
2:21.5	failure in US history. How did we get here? Is there a comparison between recent events and the
2:27.0	great financial crisis? Have regulations worked? My guess this week is Sheila Bayer. She served as chair
	...

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