Lender of Last Resort

Lender of Last Resort

When Michael Lewis wrote The Big Short, there was an extra character in the story: The Federal Reserve System, the central bank of the US, which bought up bad debt on the balance sheets of big Wall Street banks and trading firms. To better understand the Fed’s role in the financial crisis of 2008, Michael turns to UC Berkeley economics professor Emi Nakamura. And in the process, we get a master class in how currency works, and why there’s still some gold in the vaults of the Fed.

For more, check out Emi Nakamura’s Macro Policy Lab.

Order The Big Short audiobook, now narrated by Michael Lewis, on Audible, Spotify, pushkin.fm/bigshort or wherever you get audiobooks.

See omnystudio.com/listener for privacy information.

Episoder(106)

Listen Now: Spellcaster - The Fall of Sam Bankman-Fried

Listen Now: Spellcaster - The Fall of Sam Bankman-Fried

When nerdy gamer Sam Bankman-Fried rocketed to fame as the world’s richest 29-year-old, he pledged to donate his billions to good causes. But when Sam's crypto exchange FTX collapsed, billions of doll...

19 Okt 20238min

Judging Sam: Michael Lewis Talks Money with Matt Levine

Judging Sam: Michael Lewis Talks Money with Matt Levine

Today on the show, Michael talks with Matt Levine, business columnist at Bloomberg News and author of the newsletter “Money Stuff.” Matt knows more about how crypto markets work than just about anyone...

18 Okt 202327min

Judging Sam: Nishad Singh Takes the Stand

Judging Sam: Nishad Singh Takes the Stand

It was supposed to be a quiet Monday in court, but it turned out to be everything but. Nishad Singh, a former top executive at FTX, and a close personal friend of the Bankman-Fried family took the sta...

17 Okt 20238min

Judging Sam: Week 2 Catch-up with Michael Lewis

Judging Sam: Week 2 Catch-up with Michael Lewis

Week 2 of Sam Bankman-Fried’s trial is in the books. The prosecution has called witnesses, including star witness Caroline Ellison, and the defense has cross-examined. There have been dramatic, emotio...

16 Okt 202325min

Judging Sam: Ellison Testimony Wraps Up

Judging Sam: Ellison Testimony Wraps Up

Caroline Ellison, former co-CEO of Alameda Research and Sam Bankman-Fried’s ex-girlfriend, spent 3 days on the stand this week. Ellison recently pled guilty to financial fraud, and is cooperating with...

13 Okt 202318min

Judging Sam: Caroline Ellison Takes The Stand

Judging Sam: Caroline Ellison Takes The Stand

Caroline Ellison, former co-CEO of Alameda Research and Sam Bankman-Fried’s ex-girlfriend, takes the stand and has a lot to say. Ellison recently pled guilty to financial fraud, and is cooperating wit...

11 Okt 202316min

Judging Sam: Catching up with Michael Lewis

Judging Sam: Catching up with Michael Lewis

Week 1 of Sam Bankman-Fried’s trial is in the books. The jury is seated, opening statements have been given, and witnesses are taking the stand. Lidia Jean has been in court, and Michael has been on b...

9 Okt 202321min

Judging Sam: Opening Statements

Judging Sam: Opening Statements

SBF’s trial has been on for three days, and a lot has happened: jury selection, opening statements, and the first witnesses. Pushkin co-founder Jacob Weisberg sits down with reporter Lidia Jean Kott a...

6 Okt 202323min

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