I'm Nicole Lapin, the only financial expert you don't need a dictionary to understand.

It's time for some money we have.

Woo!

Holy Business News Weekend!

If you were not glued to the headlines this weekend, like I was, let me get you up to speed,

with the latest with Silicon Valley Bank or SBB.

And of course, made headlines as the biggest bank failure since 2008.

But before we get started, I want to acknowledge that this is a rapidly evolving story.

I'm recording this Sunday, March 12th, the night before it airs, with the most up-to-date

information we have now.

But I know there's going to be more information, of course, and more fallout in the upcoming

days and weeks, so there will be more to come.

But for now, here's an explainer of what the heck happened, why it happened, and what

is to come.

So interest rates are up.

We know that, you all know that, we've been talking about this on the show.

In practical terms, hyped interest rates makes it more expensive to borrow money.

But this is a new concept for us.

Interest rates have been super low since the banking crisis of 2008.

Actually, they've been super low for most of this century.

And for companies, that means it's been a time of easy, easy money.

That companies have been able to grow super fast because it's been so cheap to borrow

...