AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
2min chapter
The Fed's Playbook for Fighting Bank Panics, Now vs. The Great Depression | Dr. Jane Knodell
Forward Guidance
The Importance of Deposits in Banking
Right now people who have the liabilities of banks, they have a different stack of who gets paid first. Right, so that's super interesting. I didn't notice that in the 19th century to a great degree that was the opposite where if you had a owned a bond of the bank or a note of the bank, that could be guaranteed but not deposits. And that's why you had all these bank runs. Yes, just the notes were guaranteed, not the bonds, not the banks. It was thought that people that use currency on average were less well educated, lower income and they needed protection.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode