Remember credit-default swaps?

Make Me Smart

Marketplace

News, Business

4.6 • 5.4K Ratings

🗓️ 29 April 2023

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

As the United States edges closer to the deadline for a debt default, Wall Street speculators are hoping to capitalize on a crisis by trading credit-default swaps (shivers). We’ll talk about what they are and their role in the 2007-2009 Financial Crisis. Then, California passed a landmark zero-emission rule, but electrifying the state will come with some challenges. Plus, a round of Half-Full/Half-Empty that we hope gets us invited to Bluesky.

Here’s everything we talked about today:

- “Bets Offering 2,400% Payout on US Default Lure Growing Crowd” from Bloomberg

- “California air regulators approve landmark zero-emission rules for trucks and locomotives” from the Los Angeles Times

- “California moves to phase-out diesel-powered trucks, cut locomotive pollution” from Reuters

- “Grandchildren of ‘Sound of Music’ Von Trapp Family Form Indie Band” from Rolling Stone

- “What’s the future of retail shopping? Snap bets on virtual try-on tech.” from Marketplace

- “The Long Demise of the Stretch Limousine” from The New York Times

- “People Are Flocking to Jack Dorsey’s New Twitter Alternative” from Futurism

- “The Glorious Return of a Humble Car Feature” from Slate

- “The Real Problem With Fake Drake” from Billboard

If you’ve got a question about business, tech or the economy, give us a shout. We’re at 508-U-B-SMART, or email us at [email protected].

Transcript

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0:00.0	And by American Public Media, producer of Marketplace,
0:04.1	thanking the great companies that support this program.
0:07.3	Information on corporate sponsorship at Marketplace.org slash corporate.
0:12.3	There it is, right on the stroke of the bottom of the yard.
0:17.1	Everybody I'm Kyle at Roosevelt, welcome back to Make Me Smart,
0:21.1	back I hope, because you're a regular listener, if not, then welcome.
0:24.3	Make today make sense, that's what we do on this podcast.
0:27.0	It is Friday today, the 28th day of April.
0:30.0	Hey everybody, I'm Amy Scott, in for Kimberly Adams.
0:33.0	Thanks for joining us for Happy Hour, or economics on tap, as we call it today.
0:38.0	We've got drinks, then we'll do a news fix, and then we'll take a break and
0:42.0	play everybody's favorite game, half full, half empty, or as I like to call it,
0:46.0	stump the guest host.
0:48.0	That's a good one. That's a good one.
0:51.0	I think technically we have one drink today, because I'm in the office as
0:55.0	anybody who's going to watch this later on YouTube knows I'm driving home,
0:59.0	so I can't drink.
1:01.0	Miss Scott, what are you having?
1:03.0	You don't even have water?
1:05.0	I have my very old glass of studio water, whatever.
1:08.0	LAs fine.
1:09.0	LAs fine, that's right.
	...

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