December 15, 2022· 67 min

Younger and Menand Explain How We Got the Modern Banking System

Louis Menand

Orality

Model

50%

Speaker Breakdown

HostTracy Alloway(1,302 words)

M:29%

HostJoe Weisenthal(1,207 words)

M:29%

GuestLouis Menand(0 words)

M:27%

Oral Indicators

Agonistic24%

very, basically, extremely

Engagement55%

you, our, your

Memory Aids100%

listen, so, right

Repetition100%

like (138x), it's (84x), about (80x)

Parallelism100%

And I'm Joe Weisenthal...., So, Joe, this is a very specia..., So this is basically a follow-...

Sound Patterns71%

92 question(s), alliteration: "markets move", alliteration: "barclays brief"

Formulaic Phrases2%

i mean

Literate Indicators

Hedging4%

may, maybe, could

Passive Voice10%

is interested, was seconded, was trained

Abstract Nouns22%

investment, business, chase.com/business

Subordination5%

because, since, provided

Sentence Length44%

Avg: 15.9 words/sentence

Word Complexity48%

investment, analyze, anticipate

Academic Markers0%

Impersonal Style45%

717 personal pronouns found

Descriptive Style78%

apply, really, basically

Description

The US financial system today is pretty much taken as a given. We have the Federal Reserve, which sets interest rates and provides various liquidity backstops. We have regulated banks, which lend and create money and have access to the Fed. And we have non-bank financial activity that falls under the nebulous umbrella of "shadow banking." But how did we actually end up with this system? And why did policymakers design it the way they did? On this episode, which was recorded live at Bloomberg's New York office on Nov. 29, we speak with Josh Younger and Lev Menand. They are research partners who have delved into the big questions about the structure of modern banking, the history that has shaped it into what it is today, and what its design actually means for the economy and society. See omnystudio.com/listener for privacy information.

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