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US Regulators Step In After Two Banks Fail. What Does It Signal For The Larger Economy?

Published March 13, 2023 at 9:00 AM PDT
Justin Sullivan/Getty Images
Getty Images North America
SANTA CLARA, CALIFORNIA - MARCH 10: A customer stands outside of a shuttered Silicon Valley Bank (SVB) headquarters on March 10, 2023 in Santa Clara, California.

US Regulators Step In After Two Banks Fail. What Does It Signal For The Larger Economy?

SVB Banking 3.13.23

U.S. regulators closed the Silicon Valley Bank on Friday after it experienced a traditional bank run, where depositors rushed to withdraw their funds all at once. It is the second largest bank failure in U.S. history, behind only the 2008 failure of Washington Mutual. But the financial bloodletting was swift; New York-based Signature Bank also failed. At more than $110 billion in assets, Signature Bank is the third-largest bank failure in U.S. history. Another beleaguered bank, First Republic Bank, announced Sunday that it had bolstered its financial health by gaining access to funding from the Fed and JPMorgan Chase. In an effort to shore up confidence in the banking system, the Treasury Department, Federal Reserve and FDIC said Sunday that all Silicon Valley Bank clients would be protected and able to access their money. President Biden, speaking from the White House shortly before a trip to the West Coast, said he’d seek to hold those responsible accountable, and pressed for better oversight and regulation of larger banks. And he promised no losses would be borne by taxpayers.

Joining us to discuss the situation is Simon Johnson, professor of entrepreneurship at MIT’s Sloan School of Management.

With files from The Associated Press.

Recapping The 95th Academy Awards Ceremony

2023 Oscar Recap 3.13.23

The multiverse comedy “Everything Everywhere All at Once” wrapped its hot dog fingers around Hollywood’s top prize Sunday, winning best picture at the 95th Academy Awards, along with awards for Michelle Yeoh, Ke Huy Quan and Jamie Lee Curtis. Yeoh became the first Asian woman to win best actress, taking the award for her lauded performance in “Everything Everywhere All at Once.” The German-language WWI epic “All Quiet on the Western Front” — Netflix’s top contender this year — took four awards as the academy heaped honors on the craft of the anti-war film. It won for cinematography, production design, score and best international film. After last year’s Oscars, which had stripped some categories from being handed out in the live telecast, the academy restored all awards to the show and leaned on traditional song and and dance numbers. Last year’s telecast drew 16.6 million viewers, a 58% increase from the scaled-down 2021 edition, watched by a record-low 10.5 million. John Horn, Arts and entertainment host for LAist 89.3 and host of the LAist podcast host “Retake”, joins Airtalk to talk more on this.

With files from the Associated Press

From Graying To Hair Loss, How Did You Navigate The Emotional And Physical Journey?

Going Gray Redux 3.13.23

Our hair is often a key characteristic that defines us physically. It’s a physical trait, but it’s also an expression, one that starts to change as we age. And that's a tough pill to swallow.

The change can signify a loss. People have long hit up the salon regularly to mask their graying roots. That's a lot of work, not to mention expensive. The pandemic inspired more people to embrace their natural hair leading to a trend of folks opting to stick with gray. Today on AirTalk, we hear from listeners about how this physical and inevitable transformation has affected them emotionally, and how they overcame the initial insecurity to eventually embrace the change.

It's been 3 Years Since The COVID-19 Pandemic Gripped Our Community. How Has Your Life Changed Since?

COVID Three Years Later 3.13.23

It's been three years since the COVID-19 pandemic began. You may remember where you were, the feelings you had and how your life was immediately impacted. Today on AirTalk, we talk about where we stand now and reflect on the last three years with Dr. Kimberly Shriner, director of Infectious Disease and Prevention at Huntington Hospital in Pasadena.
Today’s topics include:

You can join Larry Mantle and the group of expert physicians that brought us the latest in COVID-19 news for years during the pandemic. AirTalk LIVE: COVID Doctors Retrospective takes place Wednesday, March 29, 2023 at 6:30 pm at Caltech's Beckman Auditorium. Click here for tickets.

Central Valley Organic Farmer’s Discovery Of A Lost Aunt Leads To Journey To Find Family Identity In “Secret Harvests”

Secret Harvests Book 3.13.23

When author and organic farmer David Masumoto discovered a lost aunt in his family who had been separated due to racism and disability, he was immediately driven to find out why this had happened, and why it was kept secret. That desire only increased when Masumoto and his family discovered that she was not dead, as they believed, but alive and living just a few miles from his family’s farm. The journey that followed led Masumoto to dive deeper into his family history and identity.

Today on AirTalk, author and organic farmer David Masumoto is with us to talk about his new book “Secret Harvests: A Hidden Story of Separation and the Resilience of a Family Farm” (Red Hen Press, April 2023)” and the family discovery that led him to write it.

David Mas Masumoto will be at the Japanese American National Museum for a meet and greet on Saturday, March 18, 2023 at 2:00pm.

He’ll also be part of a panel about memoirs at the L.A. Times Book Festival on Sunday April 23rd at 1:30 pm  

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