Hello, and welcome to the Jack Jack edition of Slate Money, your guide to the business and

finance news of what has been a pretty exciting week.

I'm Felix Salmon of Axios. I'm here with Anna Shamansky of Breaking Views.

I'm here with Emily Peck of Huffpost. Hello.

And we're going to talk about Jack Jack. We're going to talk about specifically, we're going to

compare and contrast, shall we say, the Jack of the Moment, Mr. Dorsey of Twitter and Square, versus the jack of the 80s and 90s, Mr. Welch of General Electric.

We are going to talk about Lebanon because we promised that we would.

And so Anna gets to talk about Lebanese Ponzi's, which are, you know, they used to be called Cedars.

Now they're called Ponzi's.

And of course, we are going to talk about the Fed, the emergency rate cut that they did this week, what it has to do with coronavirus, what the right response to coronavirus is.

All of this coming up on slate money.

So when was the last time we had an emergency rate cut?

I feel like that was financial crisis.

Correct.

2008.

For 50 basis points.

And so these things are rare and they're meant to panic the world, I guess, or something.

They're not meant to panic.

If you want to really try and send a signal that don't worry people, we have this under control and don't panic,

then like a panicky rate cut in between meetings feels like the wrong message to send.

I agree. I mean, it was weird because you basically had before the rate cut, you all of a sudden

had this kind, you had a jump in stock prices because there was an anticipation of a rate cut.

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