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Breaking Points with Krystal and Saagar
3/13/23: Massive SVB Bailout, Crypto Bank Collapses, Execs Sold Millions Before Collapse, JD Vance Rips Republicans on Norfolk, Pence Blasts Trump and Tucker, Desantis Blames Wokeness on Bank Collapse, Fauci Freaks Over Prosecution Calls
Mar 13, 2023
01:25:04
Snipd AI
In this episode, Krystal and Saagar discuss the massive SVB bailout and the collapse of Crypto Bank Signature. They are joined by journalist Matthew Zeitlin to explore the concept of banks being considered 'Too Big to Fail'. They also cover JD Vance's criticism of Republicans opposing Norfolk Southern Regulation, Pence's criticism of Trump and Tucker for January 6th, Desantis blaming Wokeness for bank collapse, and Fauci's response to calls for his prosecution.
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Quick takeaways
- The US government has guaranteed deposits in troubled banks, setting a precedent and raising concerns about moral hazard and burden on taxpayers.
- The decision to guarantee deposits eliminates the role of depositors in ensuring bank safety and soundness, creating moral hazard and questioning the sustainability of FDIC insurance fund.
Deep dives
US government guarantees deposits in troubled banks
The US government has made the decision to backstop troubled banks, guaranteeing deposits in Silicon Valley Bank and Signature Bank, regardless of the amount. This move sets a precedent for all banks, effectively stating that the US government will guarantee the deposits of all banks in the country. The decision aims to provide stability in the banking system and prevent runs on banks. It also raises concerns about moral hazard and the potential burden placed on taxpayers.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode