Your banking questions, answered

Planet Money

NPR

Business, News

4.6 • 29.8K Ratings

🗓️ 8 April 2023

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

It's been a month since the collapse of Silicon Valley Bank touched off the worst episode of banking turmoil since 2008. While the financial system appears to have stabilized, we're still reckoning with what happened. Regulators are getting dragged before Congress. The Federal Reserve and the FDIC have promised reports on what went wrong with bank oversight. And judging by our inbox, you, our listeners, have a lot of lingering questions.

Questions like: Was it a bailout? Where were the regulators? Is it over yet? And what about those other banks that were teetering on the edge?

Today on the show, some answers for you.

This episode was produced by Sam Yellowhorse Kesler with help from Willa Rubin. It was engineered by Brian Jarboe. It was fact-checked by Sierra Juarez and edited by Molly Messick. Jess Jiang is our acting executive producer.

Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

Transcript

Click on a timestamp to play from that location

0:00.0	This is Planet Money from NPR.
0:06.7	It's been exactly four weeks since government officials walked into Silicon Valley Bank
0:11.1	and took it over.
0:12.8	And wow, what a month it has been.
0:14.9	I mean, yes, this is the biggest banking mess since 2008.
0:19.8	And to try to slow or stop contagion to other banks, the federal government took some pretty
0:24.6	extraordinary measures.
0:26.6	So far, those measures seem to have worked, but still regulators are being dragged before
0:32.0	Congress for questioning.
0:33.8	The Federal Reserve and the FDIC are working on reports about what went wrong with oversight.
0:38.8	That'll be released next month.
0:40.2	It's one of those news stories that is so dramatic that it's captured the public's attention.
0:45.3	It's made us dive into the little details.
0:47.7	Details that turns out matter a lot to the larger economy.
0:51.6	And we, and judging by our inbox, you still have a lot of questions.
0:57.6	Hello, and welcome to Planet Money.
1:02.7	I'm Nick Vountain.
1:03.7	I'm Amanda Orrunchik, and it is time to open the phone line to figure out the answers
1:08.6	to some pretty big questions.
1:10.6	Some yours, some of our own, about banks, and about this month of banking drama.
1:16.2	And this whole mess really has us rethinking a lot about how the banking system works,
1:21.8	and doesn't work.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from NPR, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of NPR and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.