May 1, 2023

What JPMorgan is getting out of the First Republic deal

Justin Sullivan/Getty Images

For one, the Federal Deposit Insurance Corp. will absorb much of First Republic's losses. Then, Federal Trade Commission Chair Lina Khan on regulating artificial intelligence and taking on some of the biggest companies in our economy.

Segments From this episode

Banks in Turmoil

For JPMorgan, loss sharing sweetened its deal to buy First Republic Bank

by Sabri Ben-Achour

May 1, 2023

For one, help from the FDIC, which will absorb up to 80% of the losses coming from First Republic's residential and commercial loans.

The FDIC seized control of First Republic Bank over the weekend and auctioned it off. JPMorgan won that auction, and it’s paying a cool $10.6 billion for it.

Justin Sullivan/Getty Images

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Banks in Turmoil

Small banks are doing just fine. Thanks for asking.

by Kimberly Adams

May 1, 2023

Main Street banks, often more diversified and risk-averse than Wall Street banks, are largely shrugging off First Republic’s meltdown.

Although depositors pulled $100 billion out of smaller banks in the aftermath of Silicon Valley Bank's failure, the collapse of First Republic has so far been met with a more muted response.

Spencer Platt/Getty Images

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FTC chair on regulating AI and "taking on some of the biggest, most powerful companies in our economy"

by Kai Ryssdal , Sean McHenry and Sarah Leeson

May 1, 2023

"We need to make sure the market knows that there is no exemption for AI," says Lina Khan of the Federal Trade Commission.

"Companies that are creating these tools [AI] need to be on notice," says FTC Chair Lina Khan.

Anna Moneymaker/Getty Images

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Fueled by federal dollars, commercial construction is booming

by Savannah Maher

May 1, 2023

The resilience of this usually interest rate-sensitive sector makes the Fed’s goal of taming inflation that much harder.

Federal dollars dedicated semiconductor chip manufacturing and battery production is helping lift construction worker wages.

Joe Raedle/Getty Images

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As vinyl record sales eclipse CDs, LP pressing plants are thriving

by Henry Epp

May 1, 2023

Streaming is still king, but vinyl sales continue to grow.

Sales of vinyl records by volume overtook CDs in 2022 for the first time since 1987. The resurgence of the format has meant a boom in vinyl manufacturing, but there have been bumps along the way.

Henry Epp/Marketplace

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Music from the episode

Chicago Falcon The Budos Band

State of the Art Gotye

Roma Fade Andrew Bird

Pleasure This Pain Kwamie Liv feat. Angel Haze

Vide Noir Lord Huron

The team

Nancy Farghalli Executive Producer

Daisy Palacios Senior Producer

Maria Hollenhorst Producer

Sean McHenry Associate Producer

Andie Corban Associate Producer

Richard Cunningham Associate Producer

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