#LondonCalling: Henry F. Potter Banking and SVB. @JosephSternberg @WSJOpinion
The John Batchelor Show
John Batchelor
4.6 • 2.7K Ratings
🗓️ 29 March 2023
⏱️ 15 minutes
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Summary
@Batchelorshow
#LondonCalling: Henry F. Potter Banking and SVB. @JosephSternberg @WSJOpinion
https://www.wsj.com/articles/banks-arent-busting-the-economy-politics-is-busting-banks-regulation-commercial-industrial-real-estate-lending-main-street-7bbaf04f
Transcript
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| 0:00.0 | This is CBS Eye on the World. |
| 0:08.4 | Here's John Batchler. |
| 0:11.3 | The Silicon Valley bank failure. |
| 0:14.0 | Why? |
| 0:15.1 | In the midst of prosperity, great inflation, and then a 16th largest bank, buying Treasury |
| 0:22.1 | securities to substantiate its considerable portfolio, fails of a sudden. |
| 0:29.3 | I welcome Joseph Sternberg, Joe as the political economy columnist for the Wall Street Journal |
| 0:35.6 | editorial board. |
| 0:36.6 | He is based in London, member of the editorial board. |
| 0:39.9 | And Joe identifies a cacophony of drivers for the troubles at SVB and other banks these |
| 0:46.9 | last years. |
| 0:47.9 | Joe, a very good evening too. |
| 0:49.6 | Your list is impressive because it looks like banks don't get an even break. |
| 0:55.1 | I want to start though with the colorful idea that I have advanced these last weeks to |
| 1:01.0 | my discredit because I'm now about to amend it. |
| 1:04.6 | This is not barely savings and loan. |
| 1:07.5 | This is not George Bailey pleading with his neighbors. |
| 1:10.3 | Don't you understand? |
| 1:12.2 | Your loan is in his house and his loan is in her house. |
| 1:17.3 | Give me my money, George. |
| 1:18.5 | That's all wrong. |
| 1:19.9 | What led to SVB and other troubled banks and what is likely to stay with us? |
... |
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