Planet Money - A Great Recession bank takeover

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.

Music: "Butter" "Bassline Motion" and "Fantasmi."

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CBS News Roundup - 03/29/2023 | World News Round Up Late Edition

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.


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CoinDesk Podcast Network - BREAKDOWN: The Evidence for Operation Choke Point 2.0, With Nic Carter

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 discussion at discord.gg/VrKRrfKCz8.


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.

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The Gist - Chi Town Show Down

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!


Produced by Joel Patterson and Corey Wara

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Reset with Sasha-Ann Simons - What A Deadly Fire In Mexico Tells Us About Migrants In Chicago

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.

Consider This from NPR - The Politics Of Involuntary Commitment

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.

In participating regions, you'll also hear a local news segment to help you make sense of what's going on in your community.

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The Daily Signal - TOP NEWS | Biden and Netanyahu Clash, Capitol Police Officer Sheds Light on Jan. 6, Congress Considers Bringing Energy Production Back to America | March 29

On today’s Daily Signal Top News, we break down:



Relevant Links


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CoinDesk Podcast Network - THE HASH: Binance Reportedly Hid Extensive Links to China; North Korea Hackers Adopt New Trick to Launder Crypto

The most valuable crypto stories for Wednesday, March 29, 2023.

The Hash" tackles today's hot topics: Binance hid substantial links to China for several years after the crypto exchange claimed to have left the country, according to documents reviewed by the Financial Times. New research shows that North Korean hackers are now using crypto cloud mining for their illicit activities. The U.K. drops its plans for a non-fungible token (NFT) issued by the Royal Mint. Plus, if you're a member of a decentralized autonomous organization (DAO) that is being sued, could you be liable for negligence? U.S. courts are wading into the murky topic.


See also:


Binance’s On-Chain Balance Stands at $64B, Nansen Data Shows

Crypto’s Unfulfilled Dreams Get a Tailwind From U.S. Crackdown on Binance, Coinbase

North Korea Hackers Likely Exploit Cloud Mining to Launder Stolen Crypto, Research Shows

Hacker vs. Hacker: North Koreans Attempt to Phish Euler Exploiter of $200M in Crypto, Experts Say

UK NFT Dropped Over Lack of Demand, Finance Minister Hunt Says

UK Treasury Cancels Plans for Government-Backed NFT

The Liability of DAOs and Their Founders Has Been Put to the Test in Court


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This episode has been edited by Jonas Huck. The senior producer is Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.”

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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 THEHASH to get 15% off your pass. Visit coindesk.com/consensus.

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