Earlier this month, we saw the largest bank collapse since the 2008 financial crisis. For many of us, seeing Silicon Valley Bank's meltdown brought us right back to that time 15 years ago, at the beginning of what would become the Great Recession.
In early 2009, one or two banks were failing every week. That's when Planet Money reporter Chana Joffe-Walt went inside one of those banks: the Bank of Clark County, in Washington State. Her reporting on the inner workings of a bank collapse and government takeover helps explain exactly what happens when a bank goes under, minute-by-minute.
This story originally aired in March 2009 on This American Life, from WBEZ Chicago. We're airing it for the first time in full on our podcast.
This version of the story was produced by Dylan Sloan and edited by Dave Blanchard. It was fact-checked by Sierra Juarez and engineered by Katherine Silva. Jess Jiang is Planet Money's acting executive producer.
Pope Francis hospitalized. Investigation into deadly Nashville shooting. A new path to combating the opioid epidemic. CBS News Correspondent Jennifer Keiper has tonight's World News Roundup.
The Castle Island venture capitalist joins to discuss the coordinated effort to cut off crypto from the banking sector.
On today’s episode, NLW is joined by Castle Island Ventures’ Nic Carter. Nic was the first to identify the concerted effort to de-platform crypto from the banking system as “Operation Choke Point 2.0.” In their conversation, Nic discusses the original Operation Choke Point, how that operation came to an end when he began to notice signs of a similar strategy targeting crypto and where the industry is now.
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“The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: Paulozhgibesov/Getty Images, modified by CoinDesk.
Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.
The mayoralty of Chicago will be decided next Tuesday, and its a close race between tough-on-crime Paul Vallas and current public schools union leader Brandon Johnson. Eric Zorn, longtime Chicago Tribune columnist, now editor of of the Picayune Sentinel, moderated one of the mayoral debates, and he joins us to assess the race. Plus, NCAA women's basketball ratings. And that's a Woolly Meatball!
After at least 38 migrants died in a fire in an immigration detention facility near the U.S.-Mexico border, Reset shares the latest on migrants and asylum seekers making their way to the U.S. with Gladis Molina Alt, executive director of Young Center for Immigrant Children’s Rights and Nicole Hallett, director of the Immigrants’ Rights Clinic at the University of Chicago Law School.
Members of Congress questioned TikTok CEO Shou Zi Chew about the safety and security of the app and expressed their concern that China would access information about Americans through the app.
Reset digs into the latest on the hearings and the fate of the video-sharing app with Washington Post tech writer Shira Ovide.
Some officials in Democratic-led jurisdictions around the country are pushing to use involuntary commitment as a tool to tackle a surge in homelessness. We hear what officials in New York City, California and Portland, Oregon are proposing - and some of the pushback they are getting.
Ailsa Chang speaks with April Dembosky with KQED in San Francisco and Amelia Templeton with Oregon Public Broadcasting about how the conversation about involuntary commitment is playing out in California and Oregon.
Securities and Exchange Commission leadership seems to believe that some big changes to how trades get executed will better protect retail traders. Jennifer Schulp says it's not clear retail traders are currently poorly served.