03/14/2018: Bear Stearns fell 10 years ago today
On this day in 2008, an 85-year-old investment bank became the very public face of the financial crisis. Only a $29 billion loan guarantee from the Federal Reserve and JP Morgan's buyout kept Bear from actual bankruptcy, but the company was ruined. We're marking this anniversary as part of our series Divided Decade, and on today's show we'll look at the financial infrastructure that made the crisis so contagious, and what's changed. Then: What you need to know about Theranos, amid the news that the blood-testing startup's CEO has been charged with "massive fraud." Plus: Gary who? We'll tell you everything you need to know about Trump's new top economic adviser, Larry Kudlow.
On this day in 2008, an 85-year-old investment bank became the very public face of the financial crisis. Only a $29 billion loan guarantee from the Federal Reserve and JP Morgan’s buyout kept Bear from actual bankruptcy, but the company was ruined. We’re marking this anniversary as part of our series Divided Decade, and on today’s show we’ll look at the financial infrastructure that made the crisis so contagious, and what’s changed. Then: What you need to know about Theranos, amid the news that the blood-testing startup’s CEO has been charged with “massive fraud.” Plus: Gary who? We’ll tell you everything you need to know about Trump’s new top economic adviser, Larry Kudlow.
