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Banks are failing around the world. Could it happen here?
Description
When you think about a bank run, you might think of lines around the block – of regular workers eager to get their hard-earned wages out of a troubled bank.
But recently there’s been another kind of bank run, one that plays out over group chats and email threads involving Silicon Valley billionaires and cryptocurrency investors.
The panic among this group of depositors has already led to the collapse of several small and medium-sized banks in the US, and now that anxiety is hitting other banks as well.
Today, associate editor of The Saturday Paper Martin McKenzie-Murray on the trouble in the banking sector and whether it could spread to Australia…
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Guest: Associate editor of The Saturday Paper, Martin McKenzie-Murray.
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