Since 2008, the global systemically important American banks have had that. It's been a very implicit thing. Now it needs to kind of dot I cross T correctly, the Congress to vote on so that's part one part two is the insurance fund cannot cover this full stop. The third piece of it is the US government fundamentally has to stop these deposit runs from happening and has to keep American dollars in as close control of the US system as possible.
If a bank has to make a statement about its safety and soundness, that’s usually a bad sign. Sultan Meghji is the former Chief Innovation Officer of the Federal Deposit Insurance Corporation (FDIC) and a professor at the Pratt School of Engineering at Duke University. Ricky Mulvey caught up with Meghji to discuss: - Where Silicon Valley Bank and the FDIC faltered in the lead-up to the bank run - Ripple effects from the recent bank runs that investors should consider - Hindenburg’s report on Block - How to pack a "go bag" for your savings Companies mentioned: JPM, SIVBQ, FRC, FIZN, SQ, SBUX, ORCL Host: Ricky Mulvey Guest: Sultan Meghji Engineer: Tim Sparks
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