Why this former banking regulator is writing kids books

The Indicator from Planet Money

NPR

Business

4.7 • 9.5K Ratings

🗓️ 12 November 2024

⏱️ 9 minutes

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Summary

In a first-best world, we'd all save enough money and there'd be no scammers. In a second-best world, we'd all know how to protect ourselves.

That's what Sheila Bair thought, too. As former chair of the FDIC, she noticed many kids and adults weren't quite getting the education they needed. So, she decided to do something about it.

Today on the show: What Sheila Bair has learned about American capitalism as one of its top regulators and how she's trying — one book at a time — to help new generations from falling into its traps.

We learned about Sheila Bair's kids books from listener Erin Vetter. If you've come across anything that makes finance fun, email us! We're at indicator@npr.org.

Related Episodes:
Mailbag: Children Edition
Beach reads with a side of economics

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Transcript

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0:00.0	NPR
0:02.0	Hello there, Waelin.
0:14.7	Hi, Daryan.
0:15.8	And listeners dear, I have a story, one you should hear.
0:20.3	Ooh, I am intrigued, Darian. You're rhyming. You're rhyming today.
0:24.9	Today's show for The Indicator, a financial fables for kids progenitor.
0:33.1	Are we talking about kids' books about money? That was kind of a tortured rhyme, but you know what? I respect it.
0:39.7	You must be thinking, who could it be?
0:42.2	She was a member of the FDIC.
0:45.0	To be quite specific, the 19th chair.
0:48.1	Her name, the singular.
0:50.2	Sheila Bear.
0:51.7	Sheila Bear, yes, the towering figure who was working to keep the financial system running during the great financial crisis around 2008.
1:00.5	And what I learned is that this whole time, she actually had this side quest, which is writing kids' books to help them avoid scammers and predatory lenders.
1:09.9	I mean, financial literacy and financial savviness is a really big issue,
1:13.8	and, like, kids and adults actually could stand to know more about it.
1:17.2	Today on the show, what Sheila Bear has learned about American capitalism
1:20.9	as one of its top regulators,
1:23.1	and how she's trying, one book at a time,
1:25.7	to help new generations from falling into its traps.
1:30.6	Through rhyme?
1:33.1	Violin, if you insist, one more time.
	...

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