May Day! May Day!

London Calling

Ricochet

News, Politics

4.4 • 975 Ratings

🗓️ 1 May 2023

⏱️ 63 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

What better way to observe May Day than to discuss another US bank failure? But before we get to the collapse of First Republic (Is this another case of "Get Woke, Go Broke" and what does it means for the future of ESG and "Stakeholder Capitalism?"), we talk about James’ adventures in the Far East, including a trip to a Muslim Thai restaurant in Malaysia where he had the best cup of tea he’s ever had.

Toby recounts his own adventures in the Far North - no, not that one - we're talking about Stoke-on-Trent, where he went on Saturday to see QPR’s final away game of the current football season. Speaking of football, what's the real motivation behind Ryan Reynolds’ and Rob McElhenney’s purchase of Wrexham Football Club?

In Culture Corner, James goes all anthropological on us. Really.

Opening sound this week is Jamie Dimon, the chairman and chief executive officer of JPMorgan Chase, on this morning's conference call on the acquistion of First Republic Bank.

Transcript

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0:00.0	This is London Calling.
0:04.0	No crystal ball is perfect, but yes, I think the banking system is very stable.
0:08.0	A lot of the deposit outflows because of quantitative tightening,
0:11.0	it wasn't because these people are having runs. There are only so many banks. are quantitative
0:13.2	tightening, it wasn't because these people are having runs.
0:13.7	There are only so many things offside this way,
0:16.8	and I think this is, there may be another smaller one,
0:20.0	but this pretty much resolves them all.
0:21.9	But this part of the crisis is over.
0:24.0	Welcome to London calling with me James Delipoleole and my very good friend Mr Toby
0:34.2	Young. Tops are you back from from Canada? I am I'm back from Canada I'm in fact I
0:40.0	between when I last spoke to you and now James not only have I got back from
0:44.8	Canada but I've been on a a weekend trip to Stoke which I'll tell you all
0:50.1	about in a minute but you're still in Asia. I am yeah I'm now in in Malaysia in the
0:59.2	in the the tropical heat and I'm a bit slow actually I'm it's it's very humid and it's hot and there are ants
1:08.7	there are ants crawling all over me I don't know I'm in this sort of rainforest you know place and for some reason
1:17.9	there are lots of ants everywhere and on the type of ants that bite?
1:23.8	These ones are not like those soldier ants that people get
1:29.4	choose to get bitten by on those extreme programs where you try and test your
1:37.0	how much pain you could enjoy. They look like English ants. I'm sure there are
1:41.1	some nasty ants out there. I was a bit disappointed to learn that there
1:46.3	are no killer sharks and apparently no saltwater crocodiles in the vicinity. I was thinking I was in jungle hell, but it don't seem to be that many top
	...

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