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Tangle

The SVB bank failure, explained.

Tangle

Isaac Saul

International News, Politics, Election, Nonpartisan, Us Politics, Local News, News Commentary, Biden, Us Senate, Independent, Us News, Congress, Trump, News, Us House Of Representatives

4.8672 Ratings

🗓️ 14 March 2023

⏱️ 30 minutes

🧾️ Download transcript

Summary

Over the weekend, U.S. regulators took over Silicon Valley Bank (SVB) after it collapsed on Friday morning. In a matter of 48 hours, SVB experienced a bank run and capital crisis, becoming the second largest bank in U.S. history to go under. Over the weekend, panic spread among investors and economists who feared the failure of SVB could set off a national financial crisis, but those concerns were mostly allayed when U.S. regulators announced emergency measures to protect depositors.

You can read today's podcast here, today’s “Under the Radar” story here and today’s “Have a nice day” story here.

Today’s clickables: Quick Hits (1:03), Today’s Story (2:57), Right’s Take (14:42) Left’s Take (9:15) , Isaac’s Take (19:43), Under the Radar (25:45), Numbers (26:41), Have A Nice Day (27:17)

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Transcript

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0:00.0

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0:11.0

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0:34.5

From executive producer Isaac Saul, this is Tangle.

0:44.8

Good morning, good afternoon and good evening and welcome to the Tangle podcast, the place we get

0:55.7

views from across the political spectrum, some independent thinking without all that hysterical

1:00.2

nonsense you find everywhere else. I'm your host, Isaac Saul, and today we are going to be talking

1:05.4

about the bank collapse, more specifically the failure of Silicon Valley Bank. There's a lot here in this story,

1:13.5

both politically and economically, a lot of stuff going on. We're going to try and unpack it,

1:19.1

explain to you what happened, how it happened, and then jump in with some opinions from both

1:23.8

the left and the right. Before we do, though, as always, we'll start off with some

1:28.1

quick hits.

1:35.4

First up, the Consumer Price Index increased 6% in February compared to a year ago, down from

1:42.1

6.4% in January and about what economists expected.

1:46.4

The inflation index rose about 0.4% on a monthly basis.

1:51.1

Number two, the Biden administration approved an oil drilling project in Alaska

1:54.9

while also issuing a rule of restricting drilling on 16 million other acres of the National Petroleum Reserve.

2:02.0

Number three, META, the owner of Facebook and Instagram, is planning to lay off another 10,000

2:07.3

employees after cutting some 11,000 employees in November.

2:11.8

Number four, Senate Minority Leader Mitch McConnell, the Republican from Kentucky, was discharged

2:17.0

from the hospital yesterday after a

...

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