svb_crisis

The dust hasn’t yet settled around Silicon Valley Bank’s collapse and people are trying to figure out who, or what, is to blame. We’ll unpack some of the finger pointing, explain what SVB represents 15 years after the 2008 financial crisis and look into what the bank’s failure means for the 2024 presidential race. Plus, the Oscar moments that made us smile!

Here’s everything we talked about today:

• • “Bank rules rollback contributed to SVB’s failure, critics say” from Marketplace

• • “Barney Frank blames crypto panic for his bank’s collapse. Elizabeth Warren blames Trump.” from Politico

• • “As military spending soars, Congress must take critical look at Pentagon budget” from The Hill

• • Severe erosion in North Carolina from The Washington Post

• • “Oscars Analysis: Why ‘Everything Everywhere’ — and the Academy — Won” from The Hollywood Reporter

• • “Naatu Naatu” performance at the Oscars from Variety

• • “Parties, food deals and more ways to celebrate St. Louis on 314 Day” from St. Louis Post-Dispatch

• • “Celebrating and honoring Scott Joplin and his legacy in St. Louis” from KSDK

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A US bank index suffered the worst one-day fall in market value since June 2020, the first France-UK summit in five years will focus on resetting relations, Mexico’s currency hit a five-year high this week despite its struggling economy, and former Goldman Sachs banker Roger Ng was sentenced to 10 years in prison for fraud.

Mentioned in this podcast:

Investors dump US bank shares amid fears over value of bond portfolios

Mexico’s peso hits five-year high on interest rates and US benefits

France and UK aim to draw a line under post-Brexit tensions

Former Goldman Sachs banker Roger Ng sentenced to 10 years for 1MDB fraud

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The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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