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Podcast: Risky business: More bank collapses ahead?

Podcast: Risky business: More bank collapses ahead?

Rising interest rates and the end of easy money were two factors in the sudden collapse of Silicon Valley Bank (SVB) and a subsequent stock market run on shares of regional banks. Questions were raised about the safety of the entire U.S. banking industry.

On this episode, Jim and Richard examine risk in banking, investing and the broader economy. Federal regulators faced harsh criticism for the latest bank failures. Progressives blamed politicians who eased regulations on medium-sized and small banks. Some on the right claimed that DEI — Diversity, Equity and Inclusion — distracted SVB from focusing on risk management.


This episode's guest is economist and risk expert Allison Schrager, author of "An Economist Walks Into a Brothel: And Other Unexpected Places to Understand Risk".

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The Rings and the Great Debate
Lincoln-Douglas debates

The Rings and the Great Debate

When John and Mary Ring arrived in Will County, they stepped into a world unlike anything they had known. The prairie was crowded with newcomers — Germans, Irish, Scots, English, Scandinavians — each carrying their own languages, faiths, customs, and grievances. It was a noisy, fluid, sometimes volatile mix of people who had nothing in common except the simple fact that they were here. And yet, in that crowded field of difference, the Rings recognized something essential: their survival depended on finding common ground. They didn’t have to agree with everyone. They didn’t have to like everyone. But they understood that in this new American world, no group could elevate itself above the others without consequence. The only way forward was together. This was their first lesson in American identity.

What they did not expect was the media. The American press of the 1850s was loud, partisan, explosive, and central to the political fracture that would soon tear the nation apart. Newspapers were not neutral conveyors of information — they were engines of identity, outrage, and mobilization. Every faction had its own paper. Every paper had its own truth. For immigrants like the Rings, it was disorienting. Had they escaped one form of chaos only to land in another? But instead of judging, they discerned. They listened. They watched. They learned to separate noise from signal. And in that cacophony, a voice began to rise.

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America was much more of a mess at the bicentennial than it is today

Crowds fill the street during an Americana Fair on 52nd Street in the borough of Manhattan, New York City, New York, 20th June 1976.

(TNS)

America was much more of a mess at the bicentennial than it is today

As we approach the 250th anniversary of the Declaration of Independence, America is in a pretty foul mood, and I understand why. For starters, Washington is broken, prices are high and rising, and AI is scaring the stuffing out of people.

Understanding, however, is not synonymous with agreement. In other words, some complaints about America in 2026 have more empirical weight than others. Crime may be too high, but it’s been going down for a while.

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The first Indigenous women in Congress carry a legacy older than American democracy itself

In 2018, Sharice Davids and Deb Haaland became the first two Native American women elected to Congress. They are trailblazers from a long lineage of women whose ancestors were original inhabitants of the land that became America.

(Sarah Porter for The 19th; Getty Images, AP images)

The first Indigenous women in Congress carry a legacy older than American democracy itself

In the lead-up to our country’s 250th anniversary, Errin Haines is writing a series of columns to contemplate the complicated expansion of our democracy. Subscribe to The Amendment newsletter.

Nearly three months before the signing of the Declaration of Independence, Abigail Adams had a warning for her husband, John, one of its authors: Remember the ladies.

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