The consequences of banking industry troubles, why it’s taking so long to lower inflation, and when should you sell stock that’s almost worthless?

Allworth Financial‘s Money Matters

Allworth Financial

Investing, Business:investing, Business

4.9 • 782 Ratings

🗓️ 1 April 2023

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On this week’s Money Matters, Scott, Pat and Allworth Chief Investment Officer Andy Stout discuss the repercussions that banking industry turmoil could have on the broader economy. They also tackle the fight against inflation, and the disconnect between Wall Street and the Fed. Finally, Scott and Pat help a caller who wants to know when he should sell stock of a company that just filed for bankruptcy. Join Money Matters: Get your most pressing financial questions answered by Allworth's CEOs Scott Hanson and Pat McClain live on-air! Call 833-99-WORTH. Or ask a question by clicking here. You can also be on the air by emailing Scott and Pat at [email protected]. Download and rate our podcast here.

Transcript

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0:00.0	Would you like an opinion on a financial matter you're dealing with?
0:06.0	Whether it's about retirement, investments, taxes, or 401ks, Scott Hanson and Pat McLean would like to help you by answering your call to join Allworth's Money Matters.
0:16.3	Call now at 83399 Worth. That's 83399 W-O-R-T-H.
0:24.7	Welcome to Allworth's Money Matters, Scott Hanson. Pat McLean.
0:28.6	Glad we are. Glad you're here. Glad I'm here. Glad I'm here.
0:34.1	And we're all here together. Talk're talking about financial matters, as we do every week.
0:42.3	We're all here.
0:43.3	Silicon Valley Bank, now purchased that other bank.
0:50.3	What's left of the $20 billion is what the FDIC is making up, which represents roughly 15%
0:57.5	of their total reserves, the FDIC. That's a big number. That is a big number. And last week,
1:07.4	we had Krista Snelling on from the local community bank of santa cruz county and uh if you
1:13.9	haven't listened to that podcast i would please encourage you to go back and listen to it
1:18.8	it's funny i got a i got an email from a friend of mine that i hadn't talked to in several years
1:25.5	he sent me a text how much he enjoyed that particular podcast?
1:30.0	That's why I brought it up because I received lots of feedback about, oh, okay, this makes
1:37.3	sense because what's happening is it's actually very similar to the pandemic, the government's response to the pandemic
1:47.2	and the pandemic drove a lot of small businesses out of business.
1:52.5	And this is response.
1:53.9	And this will have a similar effect to a lot of small community banks.
1:57.6	And communities.
1:58.8	And communities.
1:59.9	Local lenders.
	...

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