Hello and welcome to Slate Money your guide to the Business and Finance News of the Week. I'm Felix

I'm Felixios. I'm here with Emily Peck of Axios. Hello hello. I'm here

with Elizabeth Spires of the New York Times. Hello.

And we have a jam-packed show this week.

It was such a big news week, what with First Republic failing, and the Fed hiking hiking rates possibly for the last time and all the rest of it

That we couldn't do what I actually wanted to do which was devote this entire show to my new book

It's called the Phoenix Economy. Come, please join me in your local independent bookstore and buy it. We will do that next week. We will talk about my book next week because I'm very excited about it, but we just don't have room in this week's show because there's so much going on.

Aside from First Republic, which failed in the wake of Silicon Valley Bank and various other bank failures like Silvergate and Signature and Credit Suisse. We are going to talk about the Fed and whether that was their last rate hike and we're going to talk about T-Moo, which is this crazy Chinese

shopping act which is taking America by storm.

We have a slate plus segment which you really should listen to because it's awesome all about fake handbags in China and

Yeah, it's all coming up on slate money

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Okay, so we have a bank failure.

Wow, it feels so long ago that First Republic failed, but in fact it was only a week ago less than a week ago it

happened at 4.30 in the morning on Monday morning which is never a good sign really when something takes that long it was bigger than

Silicon Valley Bank so it's a big bank and Emily is this clearly a sign that the banking crisis was not contained and that Silicon

Valley Bank was not some kind of an outlier and that other banks can fall victim to the same forces that brought down Silicon Valley Bank.

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