Hello you're listening to Money Talks on Economist Radio, our weekly podcast on the markets,

the economy and the world of business.

I'm Simon Long, an editor at The Economist, and coming up on today's show, Banks have entered the Corona crisis in better health than the global financial one.

But how sick might they get?

You know, there's a real risk these programs not working as advertised causes a lot of

resentment and the banks get a lot of the blame.

Noble Laureate Joseph Stiglitz on how to help emerging economies hit doubly hard by the

pandemic.

The United States, you just go ahead and overnight increase

spending by 10% of GDP. Emerging markets can't do that.

And why the magic's fading for unicorns.

It was all about growth, growth at all costs,

who gives a fig about profits.

And that really has shifted in a matter of weeks. The threat of a new financial crisis looms over the global economy and it's causing worries through the banking system.

In his letter to shareholders, Jamie Diamond from J.P. Morgan Chase says this is a crisis the likes of

which banks have never seen before.

But unlike the global financial crisis of 2007 to 2009,

this time the blame lies not with money men, but with a microbe.

Today banks are in a much stronger position.

Could they even in fact be part of the solution?

Or will they falter under the uncertainty caused by the pandemic?

Matthew Valencia is an editor at the economist.

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