SVB’s cardinal sin
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 13 March 2023
⏱️ 12 minutes
🧾️ Download transcript
Summary
The Federal Deposit Insurance Corporation is leading an auction to find a potential buyer for Silicon Valley Bank after the US government said it would help depositors in its efforts to stop contagion across the banking sector. Plus, the boom in disposable vaping devices is not just adding to health concerns but leading to tonnes of electronic waste.
Mentioned in this podcast:
Silicon Valley Bank: the spectacular unravelling of the tech industry’s banker
UK government tried to find buyer for SVB unit
UK chancellor prepares lifeline for UK companies hit by SVB collapse
The environmental cost of single-use vapes
Download the FT Edit app here: ft.com/ftedit
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk. |
| 0:09.8 | Good morning from the Financial Times. Today is Monday March 13th and this is your FT News Briefing. |
| 0:19.2 | Silicon Valley Bank is in the hands of regulators after the tech lender crumbled last week. |
| 0:24.5 | It's the second largest bank failure in US history. |
| 0:28.3 | Plus, disposable vapes aren't just a growing health concern. |
| 0:31.9 | They're also a problem for the environment. |
| 0:34.4 | Say you're an 18-year-old going out clubbing on a Friday night. |
| 0:38.4 | Are you going to try and recycle your vape? |
| 0:40.9 | I'm Joanna Gauw, in for Mark Filipino and here's the news you need to start your day. |
| 0:45.3 | US banking regulators were looking for a buyer for Silicon Valley Bank on Sunday. |
| 0:59.6 | Officials are trying to prevent its collapse last week from sparking panic in the broader banking |
| 1:04.8 | sector. Yesterday, the US Treasury Secretary said the US government will not offer a bailout. |
| 1:11.6 | But Janet Yellen said on CBS News. |
| 1:14.0 | We are concerned about depositors and are focused on trying to meet their needs. |
| 1:19.8 | Silicon Valley Bank may not be as well known as other commercial banks, |
| 1:24.0 | but it's hard to overstate its importance. |
| 1:26.1 | It is the largest bank failure since the banking crisis back in 2008. |
| 1:29.6 | SVV was the bank of choice for many tech companies and workers. |
| 1:33.9 | The demise of the nation's 16th largest bank, |
| 1:36.9 | wreaking havoc, including for sale. |
| 1:38.5 | The FT's TABI kinder says SVB worked with half of all venture-backed tech and |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Forhecz Topher, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Forhecz Topher and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.