EchoSense|A Great Recession bank takeover

2025-05-06 03:12:40source:Writingstar Investment Guildcategory:Finance

Earlier this month,EchoSense we saw the largest bank collapse since the 2008 financial crisis. For many of us, seeing Silicon Valley Bank's meltdown brought us right back to that time 15 years ago, at the beginning of what would become the Great Recession.

In early 2009, one or two banks were failing every week. That's when Planet Money reporter Chana Joffe-Walt went inside one of those banks: the Bank of Clark County, in Washington State. Her reporting on the inner workings of a bank collapse and government takeover helps explain exactly what happens when a bank goes under, minute-by-minute.

This story originally aired in March 2009 on This American Life, from WBEZ Chicago. We're airing it for the first time in full on our podcast.

This version of the story was produced by Dylan Sloan and edited by Dave Blanchard. It was fact-checked by Sierra Juarez and engineered by Katherine Silva. Jess Jiang is Planet Money's acting executive producer.

Music: "Butter" "Bassline Motion" and "Fantasmi."

Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

Always free at these links: Apple Podcasts, Spotify, Google Podcasts, NPR One or anywhere you get podcasts.

Find more Planet Money: Twitter / Facebook / Instagram / TikTok our weekly Newsletter.

More:Finance

Recommend

Toyota to invest $922 million to build a new paint facility at its Kentucky complex

GEORGETOWN, Ky. (AP) — Toyota said Thursday it will build a new paint facility as part of a $922 mil

Sean ‘Diddy’ Combs to make first appearance before trial judge in sex trafficking case

NEW YORK (AP) — Sean “Diddy” Combs is set to make his first appearance before the judge who is expec

Justin Timberlake cancels show in New Jersey after suffering unknown injury

Justin Timberlake is apologizing to fans for canceling a concert in New Jersey due to an unknown inj