First Republic is the latest U.S. bank to fail as concerns about the industry’s stability persist.
Concerns about the stability of banks in the U.S. and elsewhere persist. The First Republic failed this week; two other banks failed in March.
The White House is eager to reassure Americans and the world that everything is under control, but the industry is in its most turbulent period since the 2008 financial crisis.
The recent collapse of Swiss giant Credit Suisse means shock waves are ripping through a globalized and more interconnected financial system.
So are these isolated, unrelated incidents? Or a deeper, more worrisome sign?
host: Adrian Finnihan
Guests:
William Lee – Chief Economist at the Milken Institute and former Deputy Division Chief at the International Monetary Fund
Vicky Pryce – Chief Economic Adviser, Center for Economics and Business Research, former Economic Adviser to the UK Government
Cornelius Hurley – Lecturer in Financial Law at Boston University School of Law, Former Assistant General Counsel of the Federal Reserve
