Is It Time For Public Checking Accounts at the Fed?
Odd Lots23 Mar 2023

Is It Time For Public Checking Accounts at the Fed?

When Silicon Valley Bank failed, the government stepped in and guaranteed that all accounts — even those well above the FDIC threshold for deposit insurance — would be made whole. So now people are wondering whether all accounts at every bank are implicitly guaranteed, regardless of their size. But if they are, then what is the point of private, for-profit retail banking? On this episode of the podcast, we speak with Saule Omarova, a professor at Cornell Law School. She had been nominated by President Biden to head the Office of the Comptroller of the Currency, but was forced to withdraw due to fierce opposition from the banking lobby. That opposition was based, in part, on her endorsement of public checking accounts at the Federal Reserve. But what was a seemingly "out there" view a year ago, is now firmly within the Overton Window of political possibilities. On this episode, we discuss the SVB disaster, what it means for banking, and the case for a public option.

See omnystudio.com/listener for privacy information.

Episoder(1188)

Gina Raimondo on How European Industry Is Getting Crushed

Gina Raimondo on How European Industry Is Getting Crushed

The relationship between the US and Europe is deteriorating along both security and economic dimensions. The Trump administration has imposed tariffs, while also being sharply critical of NATO allies....

6 Apr 45min

Scott Bok Explains What Investment Bankers Actually Do All Day

Scott Bok Explains What Investment Bankers Actually Do All Day

There's obviously a lot of talk these days about AI and possible destruction of white collar jobs. Intuitively bankers might be expected to be victims of this. But before we can answer whether AI can ...

3 Apr 54min

This Is How to Tell if Writing Was Made by AI

This Is How to Tell if Writing Was Made by AI

When you consider the fact that many people don't know how and where to place a comma, it's safe to say that AI is already better than most people at writing. It's clean copy. It can be surprisingly p...

2 Apr 48min

Javier Blas on Why Oil Could Go Much, Much Higher

Javier Blas on Why Oil Could Go Much, Much Higher

Oil has shot up by a lot since the start of war with Iran. But it could still get much worse. So far, the massive disruption (due to the closure of the Strait of Hormuz) has been cushioned by the draw...

1 Apr 41min

Why NASA Hired a Chief Economist

Why NASA Hired a Chief Economist

This week, NASA is scheduled to launch Artemis II, a mission that will send astronauts around the moon for the first time in more than 50 years. But this comes at a time when the space agency is facin...

31 Mar 49min

Goldman CIO Marco Argenti on the Warp-Speed Improvements in AI

Goldman CIO Marco Argenti on the Warp-Speed Improvements in AI

When we last spoke to Marco Argenti, chief information officer at Goldman Sachs, we were talking about how the bank was deploying AI, including the development of its own internal tools. But that was ...

30 Mar 52min

Anthropic, the Pentagon, and the Future of Autonomous Weapons

Anthropic, the Pentagon, and the Future of Autonomous Weapons

The last big story right before the war in Iran started was the collapse in the relationship between the Pentagon and Anthropic, with the latter objecting to any potential use of its models in either ...

28 Mar 51min

Now There's a Helium Shortage and It Affects More Than Balloons

Now There's a Helium Shortage and It Affects More Than Balloons

Ripple effects from the war in Iran and the closure of the Strait of Hormuz continue to widen. There's yet another brewing shortage, this time in helium. While most people associate helium with balloo...

27 Mar 50min

Populært innen Business og økonomi

stopp-verden
lydartikler-fra-aftenposten
dine-penger-pengeradet
rss-penger-polser-og-politikk
e24-podden
rss-borsmorgen-okonominyhetene
pengepodden-2
tid-er-penger-en-podcast-med-peter-warren
pengesnakk
livet-pa-veien-med-jan-erik-larssen
utbytte
stormkast-med-valebrokk-stordalen
morgenkaffen-med-finansavisen
lederpodden
rss-markedspuls-2
rss-sunn-okonomi
rss-pa-konto
finansredaksjonen
stockup
boligbobla