
#398 w/Allison Schrager - "The Horrible, No Good Economy: A Primer”
The Fifth Column
Credit Default Swaps
Michael Wolraich: Bear Stearns could have muddled through for a while. He says they bought bonds that fell in value and it's not clear they'll ever go back up in value. The bank had among the most, if not the most amount of long-term treasury debt at a time when rates were different 18 months ago than now. "They just hadn't really done anything," Wolraich says.
00:00
Transcript
Play full episode
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.