Silicon Valley Bank collapsed … now what?

Marketplace

Business, News

4.6 • 8.5K Ratings

🗓️ 13 March 2023

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Add the spectacular collapses of Silicon Valley Bank and Signature Bank to the lengthy list of consumer concerns. Bank failures like these don’t just rattle their depositors, they stoke anxiety in everyone who hears about them. Today, we’ll feature special coverage of SVB’s demise — how Washington is responding, the ripple effects on other banks and what it all means for average consumers.

Transcript

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0:00.0	Okay, so now what happens?
0:05.0	From American public media, this is Marketplace.
0:10.6	In Los Angeles, I'm Kai.
0:18.7	Rizdole is Monday today, the 13th day of March.
0:21.7	Good as always to have you along.
0:23.7	Everybody, this is an all SVB zone today.
0:27.5	Silicon Valley bank, it's demise, what it means and what happens now.
0:32.8	Our reporter's coming up with some of the details.
0:34.6	We start though with Steve Reddy.
0:36.0	He's at Politico here today for a non-Friday review of where things stand.
0:40.4	Hey, Kai.
0:41.4	All right, so now that we are past the day, I've all over again because as we were talking
0:45.7	about before the gong sounded, there was a little bit of that on Friday.
0:50.6	Let me get you to the first thing I want to discuss.
0:53.5	2008.
0:54.5	This is not that elaborate.
0:57.5	This is absolutely not September 2008.
1:00.1	I think we can clear that up.
1:01.4	This is not a collapse.
1:03.1	This is not a free fall in the economy.
1:05.9	But there are other dates that we can think about and we have been thinking about.
1:09.3	And over the weekend, with other reporters and editors, we were all saying, is this March
	...

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