5 min listen
Mar. 13, 2023: Everything about the bank crisis explained all at once
Mar. 13, 2023: Everything about the bank crisis explained all at once
ratings:
Length:
9 minutes
Released:
Mar 13, 2023
Format:
Podcast episode
Description
If you work at Compass Coffee, Roblox, Vox Media, Etsy, Roku, Vimeo,
LendingClub or any of the other companies with deposits at Silicon
Valley Bank, you are waking up this morning with welcome news.
After a white-knuckle weekend you can be confident that payroll will be
met, checks will clear and your company will have access to every cent
of its SVB deposits, not just the FDIC-insured limit of $250,000, after
federal agencies stepped in Sunday evening to backstop the failed bank
and attempt to stem a burgeoning crisis among the nation’s medium-sized
banks.
If you’re a banker, investor, financial regulator, business owner or
Biden administration official, you might still be plenty nervous. While
Sunday’s announcement was aimed at restoring faith in the banking
system, the early word Monday is that the markets might not be buying
it.
Subscribe to the POLITICO Playbook newsletter
Raghu Manavalan is the host and senior editor of POLITICO's Playbook
Daily Briefing.
Jenny Ament is the executive producer of POLITICO Audio
LendingClub or any of the other companies with deposits at Silicon
Valley Bank, you are waking up this morning with welcome news.
After a white-knuckle weekend you can be confident that payroll will be
met, checks will clear and your company will have access to every cent
of its SVB deposits, not just the FDIC-insured limit of $250,000, after
federal agencies stepped in Sunday evening to backstop the failed bank
and attempt to stem a burgeoning crisis among the nation’s medium-sized
banks.
If you’re a banker, investor, financial regulator, business owner or
Biden administration official, you might still be plenty nervous. While
Sunday’s announcement was aimed at restoring faith in the banking
system, the early word Monday is that the markets might not be buying
it.
Subscribe to the POLITICO Playbook newsletter
Raghu Manavalan is the host and senior editor of POLITICO's Playbook
Daily Briefing.
Jenny Ament is the executive producer of POLITICO Audio
Released:
Mar 13, 2023
Format:
Podcast episode
Titles in the series (100)
Jan. 21, 2022: Suspicious Trump weighs dual endorsements: Former President Donald Trump has floated the idea of doling out dual endorsements in some of the key midterm races as he becomes increasingly suspicious of his advisers who are pushing competing candidates. The GOP kingmaker-in-chief has grown so distrustful of all the advice he’s getting from various aides — and so wary of being lured into picking the wrong horse — that he’s floated an idea that would essentially dilute his endorsement. by POLITICO Playbook Daily Briefing