The Latest Breaking News from Great Depression

The failure of Silicon Valley Bank on March 10, 2023, came as a shock to most Americans. Even people like myself, a scholar of the U.S. banking system who has worked at the Federal Reserve, didn’t expect SVB’s collapse.

Big banks are attracting more deposits–and putting money back into failing banks. A similar system existed in the run-up to the Great Depression.

Why deposit insurance matters: Without it, America's press secretary had to put his money under a mattress in the 1930s.

What Is the FDIC? Why Was It Created? The Federal Deposit Insurance Corp., otherwise known as the FDIC, was forged in the aftermath of the Great Depression by President Franklin Delano Roosevelt, as part of a national financial industry reform initiative. The agency's famous tagline is ...

Set against the backdrop of the Great Depression, the 1946 classic, It’s a Wonderful Life, centers around themes of love, family, and redemption, but its most memorable scene happens during one of its darkest moments. Banker George Bailey, portrayed by Jimmy Stewart, had put aside his own ...

A new investigation into the kidnapping led her family to conclude she grew up as Jeanette Burchard, became a nurse and had three children, and died in Florida 20 years ago. “She was loved very much,” her daughter said.

What Are Animal Spirits? Who Coined the Term? Economists look at an individual’s behavior to understand stock market movements because emotion often drives market sentiment. The term “animal spirits” was first used by a Greek physician named Galen in the second century CE. Galen believed an entire ...

Egyptian President Abdel Fattah al-Sisi rejected "misleading claims" that said the global economic crisis was only limited to Egypt and caused by domestic policies. He also defended national projects, saying they were the basis for achieving comprehensive economic development and expressed his confidence in Egypt's ability to overcome the crisis.…

God, it's brutal out here.

1923 is the next instalment of the Yellowstone origin story, introducing us to Jacob and Cara Dutton played by Harrison Ford and Helen Mirren.

What Is a Liquidity Trap?A liquidity trap happens when an economy is in a recession but interest rates are already the lowest they can go, 0%, which is also known as the “zero lower bound.” What else can a central bank do to spur growth? That is the conundrum. People…