The SVB Collapse, Guess Who's Gonna Pay for It, China's Middle East Meddling

3 Martini Lunch – Political Humor & Commentary

Radio America

Government, News, News Commentary

4.6 • 1.5K Ratings

🗓️ 13 March 2023

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

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Summary

Join Jim and Greg as they break down the collapse of Silicon Valley Bank, and how the financial institution bankrolling many of the nation's top venture capital-backed firms went into crisis. They also throw a flag on President Biden's contention that U.S. taxpayers will not be on the hook for bailing out the bank's depositors. Finally, they shudder at the news of China brokering a restoration of relations between Saudi Arabia and Iran. Why is the restoring of relations a bad thing? In this case, there's lots of reasons.

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Transcript

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0:00.0	This edition of the 3 Martini Lunch is brought to you by 4 Patriots.
0:03.8	Right now, get 10% off the supercharged Solar Generator Bundle
0:07.4	and keep those critical devices running when your power goes out.
0:10.4	Go to 4patriots.com and use the code Martini.
0:16.6	Welcome to the 3 Martini Lunch.
0:18.6	Grab a stool next to Greg Corumbus of Radio America and Jim Garry of National Review.
0:24.4	3 Martini's coming up.
0:26.9	Hey, really glad you're with us on the Monday edition of the 3 Martini Lunch.
0:31.1	Wish we had some good news for you, but it's all bad Martini's today.
0:34.3	In fact, one of them's so bad it's taking up two Martini's.
0:37.4	And if you've been paying attention to the news at all over the last few days,
0:41.0	I think you probably know which one it is.
0:43.1	Yeah, it's the collapse of Silicon Valley Bank SVB,
0:47.4	as it's commonly known in parlance now.
0:49.9	The second largest bank collapse in the United States,
0:54.2	worst one since 2008.
0:56.5	And it's not the only one lately.
0:57.9	There's another one in New York.
0:59.2	There's a couple of crypto related banks that also went south,
1:01.8	I think for completely different reasons.
1:03.4	But Jim SVB is the big one.
1:05.8	It's one of the biggest venture capital supporting banks out there.
	...

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