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Banking Expert Sheila Bair Talks Lessons From the Easy-Money Era

Oct 10, 2023
Former FDIC Chair Sheila Bair discusses the importance of teaching basic financial concepts to children, the impact of free money on market speculation and innovations, the current environment of higher interest rates, translating children's books into other languages, and the potential impact of the commercial real estate market on the banking industry.
36:46

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Teaching children about financial concepts through picture books can empower them to make smart financial decisions and avoid scams and Ponzi schemes.
  • Financial education should start at a young age, focusing on basic principles like debt, saving, and understanding the consequences of borrowing beyond one's means, to instill financial responsibility in children and families.

Deep dives

Writing Children's Books to Teach Financial Education

Sheila Bair, former head of the FDIC, discusses her motivation for writing children's books about finance and money. She explains that picture books are a non-intimidating way to provide basic financial information to children, and they also serve as a tool to educate parents. Her books focus on teaching children about keeping their money safe and avoiding financial pitfalls such as scams and Ponzi schemes, in a fun and engaging manner. Bair believes that financial education should start at a young age, and her books aim to instill important financial concepts and values in children and families.

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