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Episode 744: The Last Bank Bailout

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Episode 744: The Last Bank Bailout

Podcast

Episode 744: The Last Bank Bailout

Episode 744: The Last Bank Bailout

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  • <iframe src="https://www.npr.org/player/embed/507125309/507128889" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
Linda Davidson/Washington Post/Getty Images
Neel Kashkari chopping wood.
Linda Davidson/Washington Post/Getty Images

Neel Kashkari oversaw the government's bailout of the banks in 2008.

And, he says, the bailout had lasting consequences that go far beyond finance.

"As a society we have a core belief, that's been passed down from generation to generation, in free markets," Kashkari said. "We violated that fundamentally when we bailed out the banks."

Now Kashkari is the president of the Federal Reserve Bank of Minneapolis. And he's come up with a plan he says will make future bank bailouts much less likely.

Music: "Spirit of 68" and "This Is Life." Find us: Twitter/ Facebook.