The Daily

Barney Frank on His Role in the Banking Crisis

Mar 22, 2023

Barney Frank, a former Congressman pivotal in reshaping financial regulation post-2008, joins David Enrich, The New York Times' business investigations editor. They delve into Frank's legacy regarding the relaxation of banking regulations and its consequences in today's financial landscape. With a recent bank failure, they explore the implications of his decisions, the turbulent journey of mid-sized banks, and the ongoing debates about the stability of the banking system amidst potential systemic risks. Frank reflects on his career's challenges and contradictions.

36:06

Creator website

Episode guests

Barney Frank

David Enrich

Highlights

AI Chapters

Episode notes

Dodd-Frank Is a Republican Dream

02:14

Intro

3min

Navigating Post-Crisis Banking Reform

15min

Regulatory Changes and the Rise of Financial Instability

4min

Crisis in Banking: A Deep Dive

10min

Navigating Political Concessions: The Dodd-Frank Compromise

2min

Transitioning from Public Office to Private Life

2min

School Workers Strike for Fair Wages Amid Rising Living Costs

2min

Barney Frank was one of the people most responsible for overhauling financial regulation after the 2008 economic crisis. After retiring from Congress, he supported a change to his own law that would benefit midsize banks, and joined the board of such a bank.

Last week, that bank failed. David Enrich called Mr. Frank and asked him to explain.

Guest: David Enrich, the business investigations editor at The New York Times.

Background reading:

Officials with Signature and Silicon Valley banks, which regulators seized in recent days, had called for looser financial requirements for midsize banks.
Here’s why people are worried about banks.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.

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