Takeouts: shadow banking system under congressional scrutiny, UK elections
Financial Takeouts: Later today the Financial Crisis Inquiry Commission will call five former top Bear executives to testify about the investment bank’s role in the shadow banking system. The New York Times Wall Street and finance reporter, Louise Story, joins the Takeaway to explain the common and legal ways that banks use this system to shrink their questionable balance sheets.
UK Elections: Last minute campaigning in Britain heats up before tomorrow’s elections. To explain the British electoral system, we’re joined by TBD.
The World is an independent newsroom. We’re not funded by billionaires; instead, we rely on readers and listeners like you. As a listener, you’re a crucial part of our team and our global community. Your support is vital to running our nonprofit newsroom, and we can’t do this work without you. Will you support The World with a gift today? Donations made between now and Dec. 31 will be matched 1:1. Thanks for investing in our work!