Marketplace Morning Report for Tuesday, March 24, 2015
Airing on Tuesday, March 24, 2015: After the 2008 financial collapse, the government required banks to prove if they failed some day it wouldn't drag down the rest of the financial system and require a bailout. The documents to prove this are known informally as "living wills." Last summer it emerged that a range of U.S.-based bank still posed too much systemic risk if they were to go bankrupt. Today, several published reports say three foreign owned banks also lack persuasive living wills. BNP Paribas, HSBC, and Royal Bank of Scotland. More on that. And there's news today about factories in China, where an index of manufacturing fell in March. We take a look at the issue. Plus, Shell is expected to get the green light this week to re-start drilling for oil in the Arctic. Critics fear low oil prices may raise pressure on the company to cut corners and compromise safety. Given its poor safety record in the Arctic, why is the US supporting Shell’s application? We explore.
Airing on Tuesday, March 24, 2015: After the 2008 financial collapse, the government required banks to prove if they failed some day it wouldn’t drag down the rest of the financial system and require a bailout. The documents to prove this are known informally as “living wills.” Last summer it emerged that a range of U.S.-based bank still posed too much systemic risk if they were to go bankrupt. Today, several published reports say three foreign owned banks also lack persuasive living wills. BNP Paribas, HSBC, and Royal Bank of Scotland. More on that. And there’s news today about factories in China, where an index of manufacturing fell in March. We take a look at the issue. Plus, Shell is expected to get the green light this week to re-start drilling for oil in the Arctic. Critics fear low oil prices may raise pressure on the company to cut corners and compromise safety. Given its poor safety record in the Arctic, why is the US supporting Shell’s application? We explore.
