Episode Details

Is the banking system in America collapsing? The recent closure of Silicon Valley Bank and Signature Bank, combined with the loss of confidence and sale of Credit Suisse has sent shockwaves through the global financial system. 

Fran Racioppi brings back Episode 91 guest and former Chief Innovation Officer at the Federal Deposit Insurance Corporation (FDIC) Sultan Meghji, to answer the questions we are all asking: why are banks failing? Should we be concerned about our money? Are taxpayers footing the bill? When should we worry? 

Learn more about Sultan Meghji on LinkedIn and Twitter @sultanmeghji.

Check out The Jedburgh Podcast Website. Subscribe to us and follow @jedburghpodcast on all social media. Watch the full video version on YouTube.

Highlights:

-0:00 Welcome back to The Jedburgh Podcast 

-1:51 Don’t worry about your checking account

-4:26 The banking crisis interest rates explained

-6:37 Mortgage backed securities and the changes since the 2008 financial crisis

-8:14 The failure at Credit Suisse

-9:48 The role of the FDIC

-14:10 Are taxpayers footing the bill?

-15:32 What will cause a run on the banking system?

-17:45 Why Sultan only fears defaulting on the debt ceiling

Quotes:

-”Don’t worry about your checking account….Don’t stress about it. I