5 chapters across the catalog
2008 Financial Crisis, LIBOR Scandal, Sheila Bair
Analysis from Max Keiser and Stacey Herbert suggests the 2008 financial crisis was exacerbated by drug cartels withholding liquidity from U.S. banks. The discussion transitions to the LIBOR scandal, featuring an interview with former FDIC chair Sheila Bair, who appeared to struggle when asked if she had prior knowledge of the interest rate manipulation.
US Postal Service, Military Personnel Shifts
The US Postal Service reported a $2.2 billion loss, which the hosts argue is a result of government bookkeeping maneuvers rather than actual operational failure. Meanwhile, Robert G. Taub, a former Army official, has been appointed to the Postal Regulatory Commission. The hosts speculate this move integrates the postal service into the national intelligence and surveillance apparatus.
Sheila Bair FDIC Warning, Wall Street Journal Op-Ed
FDIC Chairwoman Sheila Bair published an op-ed in the Wall Street Journal discussing the "quiet confidence" of the American public in deposit insurance. Bair warned that excessive government borrowing poses a danger to long-term financial stability and urged Americans to look beyond partisan interests. The hosts interpret her language as a "hidden message" warning that the FDIC is functionally broke and that citizens should consider moving their money out of traditional banks.
FDIC Chairman Sheila Bair released a video message to reassure the public as the number of US bank failures in 2009 surpassed 100. The hosts analyze her "nurse-style" delivery and the "healing process" language she uses to describe the economy. They question the math behind her claim that $100 billion in reserves and a line of credit with the Treasury can fully protect all insured deposits in the country.
FDIC Chairman Sheila Bair Warns of Deposit Insurance Fund Insolvency
FDIC Chairman Sheila Bair issued a warning that the federal deposit insurance fund could become insolvent without increased assessments from member banks. This potential shortfall follows the government's decision to raise the insured deposit limit to $250,000. Critics argue that increased fees will disproportionately harm healthy community banks that did not participate in risky lending practices.
