Chapter
The Collapse of the Portland Bank
16:09 - 21:44 (05:34)
The host shares the story of a man who withdrew $12,000 from the Portland branch of the bank right before it collapsed, and discusses the role of the Federal Reserve in supplying cash reserves to banks.
Clips
The hosts discuss practical money topics such as the role of the Federal Reserve and the lack of financial education in school and home, while acknowledging the difficulties of making smart money decisions in the current economic environment.
16:09 - 19:17 (03:08)
Summary
The hosts discuss practical money topics such as the role of the Federal Reserve and the lack of financial education in school and home, while acknowledging the difficulties of making smart money decisions in the current economic environment.
ChapterThe Collapse of the Portland Bank
EpisodeThe Scintillating World of Interest Rates
PodcastStuff You Should Know
The On Purpose podcast with Jay Shetty features interviews with a variety of high-profile guests discussing their personal journeys and the tools that they have used to create change in their lives and the world around them.
19:17 - 19:57 (00:39)
Summary
The On Purpose podcast with Jay Shetty features interviews with a variety of high-profile guests discussing their personal journeys and the tools that they have used to create change in their lives and the world around them.
ChapterThe Collapse of the Portland Bank
EpisodeThe Scintillating World of Interest Rates
PodcastStuff You Should Know
John Sutter, a wealthy landowner, was able to retrieve $12,000 from the Portland branch of the bank before it collapsed.
19:57 - 21:44 (01:46)
Summary
John Sutter, a wealthy landowner, was able to retrieve $12,000 from the Portland branch of the bank before it collapsed. He arrived just before the steamship carrying news of the bank collapse and was able to save his fortune.