Is the Banking Crisis Over? (Robert Wright & Richard Vague)

Robert Wright's Nonzero

Nonzero

News & Politics, Society & Culture, Philosophy

4.7 • 618 Ratings

🗓️ 22 March 2023

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

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0:00 Richard’s banking and business bona fides 2:51 Was the Silicon Valley Bank crash a harbinger of worse to come? 10:06 What actually caused SVB’s collapse? 18:46 Richard: SVB failed risk management 101 31:41 Costs and benefits of the SVB bailout 38:13 The Fed’s oft-forgotten original role 43:32 Did the deregulation SVB lobbied for doom it? 45:09 Overtime preview: Richard’s career highlights; cognitive empathy in commerce; how to hire like a boss; and more!

Robert Wright (Bloggingheads.tv, The Evolution of God, Nonzero, Why Buddhism Is True) and Richard Vague (Gabriel Investments, The Next Economic Disaster). Recorded March 21, 2023.

Richard's article about the SVB crash in Democracy Journal: https://democracyjournal.org/arguments/the-svb-failure-why-it-happened-and-what-it-means/

Comments on BhTV: http://bloggingheads.tv/videos/65853 Twitter: https://twitter.com/NonzeroPods

Transcript

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0:00.0	You're listening to Robert Wright's Non-Zero Podcast.
0:33.6	Hi, Richard.
0:35.6	Hey, Bob.
0:37.1	How are you doing?
0:38.4	I'm well, thanks.
0:39.3	And you?
0:40.3	I can't complain.
0:42.6	And I'm very happy that you're with us to explain the latest financial calamity.
0:47.3	This is when you get an email from me when there's financial trouble brewing.
0:51.6	You were with us when the pandemic started and the financial collapse began to walk us through that. Let me introduce both of us. I'm Robert Wright, publisher of Non-Zero Newsletter. This is a non-zero podcast. You're Richard Vague. The thing you've done most recently that's relevant to the conversation we're
1:13.0	about to have is you've written a piece for the Journal of Democracy called the SVB failure,
1:19.2	why it happened and what it means, where SVB stands for Silicon Valley Bank. I want to talk
1:25.5	about all that, talk about where we stand in this thing,
1:29.7	whether it could get, whether we should be worried and so on. Let me talk about your various
1:36.5	relevant credentials. First of all, you've written some books. The next economic disaster is
1:43.4	one of we discussed on this podcast, a brief history of doom,
1:47.2	the case for a debt jubilee, and also nice coffee table book, if people need a gift for the
1:55.1	capitalist in their life, called an illustrated business history of the United States,
2:00.7	lots of illustrations and graphs and so on.
2:03.6	You also have a lot of vocational experience that's relevant to this conversation.
2:09.7	You've been president of our CEO of First USA Bank and Juniper Financial.
2:15.1	You're also venture capitalists and of course SVB served venture capitalists.
	...

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