Moody's Talks - Inside Economics cover image

Systemic Threats, Supervisory Shortfalls

Moody's Talks - Inside Economics

00:00

The Banking Earthquake: A Better Home Loan Bank?

We've had a failure to focus on working people and protecting working people while we're running around making sure that Peter Thiel has access to all 50 million bucks immediately, not two thirds of his 50 million bucks with a potential small haircut for having an uninsured deposit. The point here is they said they had promised making paycheck. Did one of their employees get an overdraft over the weekend because their paycheck didn't come through on Friday? Overdraft is a huge business. Huge punitive costs. It doesn't cost a bank 35 bucks to give you money to cover your overdraft when you're banked when your payer doesn't come through. They didn't suspend overdrafts over the weekend.

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