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The Daily Signal

INTERVIEW | Is My Money Safe? Financial Expert Explains Recent Bank Failures, Questions Activity of JPMorgan Chase

The Daily Signal

The Daily Signal

Government, Daily News, News, Politics

4.61.2K Ratings

🗓️ 15 May 2023

⏱️ 23 minutes

🧾️ Download transcript

Summary

Americans needn’t worry about the safety of their money at the bank, financial and investment expert David Bahnsen says. Three large American banks have collapsed since the beginning of the year, but “there’s almost nothing in common at all with these three banks closing, relative to all the 2008 closings,” says Bahnsen, founder and chief investment officer of the wealth management company The Bahnsen Group.  When banks fail, as they did in 2008, it’s usually because of “people not paying back something they owe,” Bahnsen says, adding that’s not the case with the recent bank failures.  Bahnsen, whose company manages more than $4 billion in client assets, says Silicon Valley Bank, Signature Bank, and First Republic Bank were “totally ill-prepared for the idea of interest rates flying higher, as they have.”  Bahnsen joins “The Daily Signal Podcast” to explain the effect the Federal Reserve’s interest-rate hikes have had on America’s banks and what it means for the financial health of the country.  Bahnsen also explains why he, as a JPMorgan Chase shareholder, has proposed a resolution calling on the bank to investigate whether it is discriminating against clients because of their religious or political views.  Relevant Links Colorado Wants to Force Her To Create LGBTQ Wedding Websites: https://www.youtube.com/watch?v=nfk1q-EXNDE Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This is the Daily Civil Podcast for Monday, May 15th, I'm Virginia Allen.

0:10.7

This year already, three big banks have failed in America.

0:15.3

But financial expert and investor David Bonson says Americans need not worry about the safety

0:22.7

of the money in their bank accounts.

0:25.3

Why does Bonson says that the recent bank failures that we have seen this year are very

0:31.0

different from the financial crisis of 2008?

0:35.3

Bonson joins me on the show today to explain why these bank failures aren't necessarily

0:41.4

of concern to the average American, but why we do need to pay attention to them and how

0:47.2

they're affecting financial markets.

0:49.6

He also shares some common financial advice that he says most Americans don't understand

0:55.3

and stay tuned for our conversation up next and I'll never forget just being fearful

1:00.9

for my life.

1:01.9

Let me phone calls, emails, protests outside the shop.

1:05.0

I remember sleeping on the floor of my bedroom, seeing the headlights driving by just wondering

1:10.8

if someone was going to carry out on some of the threats that I had seen in emails.

1:14.1

Here I am on this journey, hopefully to protect not only my right to speak freely, but

1:17.9

everyone's right to do just the same.

1:20.8

You've just listened to a sneak peek from our brand new documentary about Laurie Smith.

1:25.3

She's a web designer who the state of Colorado wants to force into creating LGBTQ websites

1:30.9

and other content that directly violates her beliefs.

1:34.3

We spoke with her and with Christian Baker Jack Phillips about their cases and about

1:38.5

what's at stake for the First Amendment.

...

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