Podcasts about Backstop

Breaking Through Hurts, Habits, & Hangups — Week 19: Backstop to Relapse

Are you waiting for the "perfect moment" to take that next big step in your career or business? It's time to ask yourself: is this wise or fear in disguise?In this episode, we explore the fine line between trusting the process and falling into the trap of procrastination. As coaches, consultants, and service providers, we often find ourselves caught in this dilemma. But what if I told you that action (not waiting) is the key to clarity?Here's what you'll learn:How to differentiate between necessary patience and harmful procrastinationTechniques for building momentum through small, consistent actionsWays to reframe past experiences that may be holding you backStop waiting on the sidelines. Take a step, and you'll find your path clearer and your excuses fewer.***** Book a Discovery Call at https://SpeakAndStandOut.com/Discovery *****Ready to Command Any Room?If you're tired of feeling invisible and want to leverage speaking opportunities to become a go-to expert in your field, it's time to take action. Book a discovery call at speakandstandout.com/discovery to uncover hidden opportunities and learn how speaking can elevate your brand and business.Don't let another networking event or speaking chance pass you by. Tune in now to start your journey towards confident, impactful communication that demands attention and respect.Hit **SUBSCRIBE** so you NEVER miss any episodes.Thank you for listening,Laurie-Ann

Nicolle Wallace on the U.S. allies preparing for a world without American leadership, Trump's plans for the Department of Education, and the state attorneys general fighting back against Musk's sweeping federal cuts.                              Joined by: Courtney Kube, John Brennan, Sen. Tim Kaine, Randi Weingarten, Alex Wagner, Angelo Carusone, John Heilemann, and Lisa Rein.

The Smart 7 is an award winning daily podcast that gives you everything you need to know in 7 minutes, at 7am, 7 days a week…With over 17 million downloads and consistently charting, including as No. 1 News Podcast on Spotify, we're a trusted source for people every day and we've won Gold at the Signal International Podcast awardsIf you're enjoying it, please follow, share, or even post a review, it all helps... Today's episode includes the following:https://x.com/i/status/1891569342975709266 https://x.com/i/status/1891539906708529202 https://x.com/i/status/1891463283091103819https://x.com/i/status/1891394537475481869 https://x.com/i/status/1891443910347460677 https://x.com/i/status/1891446511554195673 https://x.com/i/status/1891521580255092953 https://x.com/i/status/1891409331179975050 https://x.com/i/status/1891503526167052460 Contact us over @TheSmart7pod or visit www.thesmart7.comVoiced by Jamie East, using AI, written by Liam Thompson, researched by Lucie Lewis and produced by Daft Doris. Hosted on Acast. See acast.com/privacy for more information.

UK PM says US security guarantee only way to deter Russia from attacking Ukraine again. Also: Using AI to detect prostate cancer and tributes paid to Paquita la del Barrio whose songs empowered women around the world.

Happy 2025 listeners! The LAR crew is here and ready for the new year with fresh takes about America's past time. With Mathias hosting, join him and Alex ("Splash" is sick today) as the dynamic duo talks about how the Corbin Burnes signing helps the Diamondbacks compete in a stacked NL West and which catchers are going to be the very best in 2025. All of this and more on today's edition of Losses Above Replacement!

Jesse breaks down what the Orioles got out of the catcher position in 2024 and what we need to do to improve the position in 2025. BlueSky Twitter Threads YouTube

Remembering Louie Tiant The '75 Series Transitioning the catching position Lynn and Rice Fisk The role of a catcher- modern nuances discussed- GREAT MESSAGE TO YOUNG CATCHERS

The Biden administration is considering a new policy that would use federal dollars to support U.S. critical minerals projects, which have faced cancellations and delays because of an influx of cheaper Chinese materials. POLITICO's James Bikales breaks down what he learned about this potential policy move and the potential complications. Plus, Kamala Harris' presidential campaign has hired Camila Thorndike as climate engagement director. For more news on energy and the environment, subscribe to Power Switch, our free evening newsletter: https://www.politico.com/power-switch And for even deeper coverage and analysis, read our Morning Energy newsletter by subscribing to POLITICO Pro: https://subscriber.politicopro.com/newsletter-archive/morning-energy James Bikales is the host of Morning Energy and a reporter for POLITICO.  Josh Siegel is an energy reporter for POLITICO.  Nirmal Mulaikal is a POLITICO audio host-producer.  Kara Tabor is an audio producer for POLITICO. Alex Keeney is a senior audio producer at POLITICO.  Gloria Gonzalez is the deputy energy editor for POLITICO.  Matt Daily is the energy editor for POLITICO.

Saving our country is the most important goal imaginable. We truly have a chance to do it right now. Your righteous work will always be rewarded. The reason behind the fight, fight, fight. Get me my shoe so I don't look unkempt. Fighters always keep going. Some people may not be ready for the truth. Liberty is so precious and it's easy to take for granted. Concerned citizens need to speak up, and loudly. Christopher Wray was dry, but accurate. The most complicated threat environment we've ever observed. Is Biden up to it? The briefings have been fine. Why are so many questions still unanswered? God controls everything. The corruption goes deep in bad states. Being ahead of your time leaves few ears to hear. Is Oprah in the electoral picture? What exactly did she do in Africa? Trump took the risks for the people. JD Vance and his wife bring up lots of questions. Never forget how Ceasar died. The people are the true backstop for freedom. We must be able to make choices for our kids. If you want to be free, we have to do it by the book. As shown throughout our history, it will be We The People who bring it home.

In today's show, host Ali Muldrow talks with sociology professor Jessica Calarco about how women are shaped by multiple forces in our society to take up the role of mother, […] The post Women are the Backstop for our Deficient Social Safety Net appeared first on WORT-FM 89.9.

Iain chats to the journalist Tim Shipman, who is the Sunday Times' chief political commentator, as well as the author of a series of books detailing the UK's departure from the European Union and the political difficulties faced since Brexit. The latest book is called 'No Way Out: Brexit: From the Backstop to Boris'.

This is a free preview of a paid episode. To hear more, visit andrewsullivan.substack.comThe best political reporter in Britain returns to the Dishcast to discuss the election on July 4. Tim has been a chief political commentator at The Sunday Times since 2014, after serving eight years as political editor. His first two books, All Out War and Fall Out, are indispensable to understanding the politics of Brexit, and his new book is No Way Out: Brexit: From the Backstop to Boris.For two clips of our convo — on the fall of Rishi Sunak, and Nigel Farage entering the “clusterfuck,” as Tim puts it — pop over to our YouTube page. Other topics: 14 years of Tory power; George Osborne's austerity; Boris the cosmopolitan liberal Tory; how he screwed up Brexit; his common touch overshadowed by breaking his own Covid rules; deep spending during the pandemic; his bromance with Zelensky; vowing to cut migration but legislating mass, unskilled migration; Theresa May unable to right the ship; the Liz Truss disaster; her naive libertarianism and supply-side shock therapy; Rishi Sunak sweeping in from a smoke-filled room; coming in as a technocratic problem-solver but lacking the political skill; surrounded by Yes Men and “surprisingly brittle”; his rolling series of campaign blunders this month — starting with his election announcement in the pouring rain; the D-Day disaster; Nigel Farage entering the “clusterfuck” and splitting the Tory base; losing all his previous seven races for Parliament; how Reform will get one, maybe two seats; how Farage is close with Trump and “more jovial”; how Farage had to backtrack on Putin ; why Keir Starmer is not proposing radical change (like Thatcher did); how he's touting “stability” and “competence”; his policy is thin; my reflections on befriending and debating Keir during our school days; how he was a class-war leftist in his youth, with swagger; the depth of his ambition (even more than Rishi); how he outmaneuvered Jeremy Corbyn and distanced the party from anti-Semitism; the Cass Review; China policy; Blairism; how old party allegiances are mostly gone; and how July 4 could see the worst election loss since 1906.Browse the Dishcast archive for an episode you might enjoy (the first 102 are free in their entirety — subscribe to get everything else). Coming up: Erick Erickson on the left's spiritual crisis, Anne Applebaum on autocrats, Lionel Shriver on her new novel, Bill Wasik and Monica Murphy on animal cruelty, Van Jones, and Stephen Fry! Send any guest recs, dissents, and other comments to dish@andrewsullivan.com.

A media company chief executive says agreements to make tech companies pay for news have been successful in other countries.   A Select Committee's recommended the Fair Digital News Bargaining Bill not be passed in its current form.   Media and Communications Minister Paul Goldsmith says they've not made a decision.  Michael Boggs, the CEO of NZME which owns Newstalk ZB, told Mike Hosking that the current Minister and Prime Minister know there are issues.   He says they're not looking for a handout, just legislation that gives them a backstop in dealing with global social media and tech platforms.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Minnesota's entry has advanced to the Finals, and Game 2 is tonight in Boston.Goalie Maddie Rooney talked with Vineeta on Tuesday's edition of The WCCO Morning News. 

Minnesota's entry has advanced to the Finals, and Game 2 is tonight in Boston.Goalie Maddie Rooney talked with Vineeta on Tuesday's edition of The WCCO Morning News. 

They were some of the most turbulent years of British politics as Prime Minister Theresa May steered her Brexit deal, via unprecedented disasters and triumphs, through parliament. The ultimate insider, Tim Shipman, Sunday Times' chief political commentator was there throughout and shares new revelations and his unfiltered reflections on the politicians who led us through it all.This podcast was brought to you thanks to the support of readers of The Times and The Sunday Times. Subscribe today: http://thetimes.co.uk/thestoryGuest: Tim Shipman, chief political commentator, The Sunday Times and author of No Way Out: From the Backstop to BorisHost: Luke Jones.Clips: BBC News, Channel 4 News and 5 News.Get in touch: thestory@thetimes.co.uk Find out more about our bonus series for Times subscribers: 'Inside the newsroom' Hosted on Acast. See acast.com/privacy for more information.

On this episode of the Reaction Podcast, host Iain Martin is joined by Tim Shipman, chief political commentator at The Sunday Times, to talk about his new book, No Way Out: Brexit: From the Backstop to Boris. They discuss the political gambles, successes and failures that led Brexit Britain to where it is today, the legacy of Theresa May's premiership, what the Brexit moment tells us about historical revolutionary times, the dishonesty of both Brexiteers and Remainers and the future of Britain outside the EU.

Discussion in the THORChain Developer Discord on 4 April 2024 about a synth backstop mechanism.

Whether it's the biomedical security state, the invasion, inflation, indoctrination, or the weaponization against political opponents, there is now zero backstop against the Biden administration. I go through the immediate fallout of the omnibus bill and how Speaker Johnson will now push more funding for Ukraine in a stand-alone bill and would be willing to pass it even with a minority of GOP support. This is why it's better to vacate the chair, even if that means having no speaker for the remainder of the term. Next, I go through a series of new academic papers from the top medical journals showing a shocking level of cancers, neurological damage, and stillbirths from the COVID shots. The world is focused on Princess Kate's cancer diagnosis, but nobody is willing to ask why so many young people are getting cancer.  Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we sit down with Jason Agresti, the Director of BackStop U at Velo University, to dive into his fascinating journey from being a four-year starter at Binghamton University to becoming a catcher for the Sussex County Miners in the Frontier League. Join us as we explore Jason's experiences in Indy Baseball, from his time with Rockland and New Jersey from 2019 to 2022, to the significant changes he's witnessed in the world of catching since 2018. Jason will share his insights into how technology and data have transformed the game, both for coaches and scouting. Discover the expectations and insights looking ahead to 2023 in Indy Ball and get an in-depth look at Velo University, including its background and Jason's initial interactions with the facility. Learn about the implementation of Backstop University and how it has contributed to the development of catchers. In the BackStop U segment, Jason shares the inception of the program, its overall evaluation process, and delves deep into his own ideologies and thought process when it comes to programming catchers in 2023. As we explore the future of catching in 2023 and beyond, Jason provides his perspective on how the position will evolve at both the college and professional levels. He discusses how organizations value catchers and the balance between high catchability and low offense, which can help organizations save money for other positions. Join us for an insightful conversation that sheds light on the world of catching in baseball, both past and future. Don't miss this episode packed with valuable insights and Jason's unique perspective.

We may not have seen a power hitting duo at the Cardinals backstop quite like Contreras and Knizner

Victoria and Will interview Rishi Malik, the Founder of Backstop.it and VP of Engineering at Varo Bank. They talk about Rishi's recent adventure at DEF CON, the renowned annual security conference that he's attended for six years, and describes how it has transformed from a mere learning experience into a thrilling competition for him and his team. The conference = their playground for tackling an array of security challenges and brain-teasing puzzles, with a primary focus on cloud security competitions. They talk about the significance of community in such events and how problem-solving through interaction adds value. Rishi shares his background, tracing his path from firmware development through various tech companies to his current roles in security and engineering management. The vital topic of security in the fintech and banking sector highlights the initial concerns people had when online banking emerged. Rishi navigates through the technical intricacies of security measures, liability protection, and the regulatory framework that safeguards online banking for consumers. He also highlights the evolving landscape, where technological advancements and convenience have bolstered consumer confidence in online banking. Rishi shares his unique approach to leadership and decision-making, and pearls of wisdom for budding engineers starting their careers. His advice revolves around nurturing curiosity and relentlessly seeking to understand the "why" behind systems and processes. __ Backstop.it (https://backstop.it/) Follow Backstop.it on X (https://twitter.com/wearebackstop). Varo Bank (https://www.varomoney.com/) Follow Varo Bank on Instagram (https://www.instagram.com/varobank/), Facebook (https://www.facebook.com/varomoney/), X (https://twitter.com/varobank), YouTube (https://www.youtube.com/varomoney), or LinkedIn (https://www.linkedin.com/company/varobank/). Follow Rishi Malik on LinkedIn (https://www.linkedin.com/in/rishilmalik/). Follow thoughtbot on X (https://twitter.com/thoughtbot) or LinkedIn (https://www.linkedin.com/company/150727/). Become a Sponsor (https://thoughtbot.com/sponsorship) of Giant Robots! Transcript: VICTORIA: This is the Giant Robots Smashing Into Other Giant Robots podcast, where we explore the design, development, and business of great products. I'm your host, Victoria Guido. WILL: And I'm your other host, Will Larry. And with us today is Rishi Malik, Founder of Backstop.it and VP of Engineering at Varo Bank. Rishi, thank you for joining us. RISHI: Thanks for having me. I'm excited to be here. VICTORIA: Yes, Rishi. I'm so excited to talk with you today about your security background and get into your role at Varo and Backstop IT. But first, I wanted to hear a little bit more about your recent experience attending DEF CON. How was that? RISHI: It was awesome. I do have quite the background in security at this point. And one of the things I started doing early on, as I was getting up to speed and learning more about the security-specific side of things, was beginning to attend DEF CON itself. So, I've now gone six years straight. And it started out as just kind of experiencing the conference and security and meeting folks. But it's progressed to where I now bring a team of people where we go and we compete. We have a good time. But we do get to kind of bring the security side of things into the software engineering and engineering leadership stuff that we all do on a day-to-day basis. VICTORIA: Yeah. And what kind of puzzles do you solve with your team when you attend DEF CON? RISHI: There's definitely a lot of variety there, which I think is part of the fun. So, DEF CON frequently has electronic badges, you know, with random puzzles on there that you have to solve. Some of it are cryptographic. Some of them are kind of random cultural things. Sometimes there's music challenges based around it. Sometimes, it's social and interactive. And you have to go find the right type of badge or the right person behind it to unlock something. So, all of those, you know, typically exist and are a ton of fun. Primarily, in the last few years, we've been focusing more on the cloud CTF. So, in this case, it's our team competing against other teams and really focused on cloud security. So, it's, you know, figuring out vulnerabilities in, you know, specially designed puzzles around AWS and GCP, the application side of things as well, and competing to see how well you can do. Three years ago, the last couple of years, we've not won it, but we've been pretty competitive. And the great thing is the field is expanding as more and more people get into CTF themselves but, more importantly, into cloud infrastructure and cloud knowledge there. So, it's just great to see that expansion and see what people are into, what people are learning, and how challenging some of these things can be. VICTORIA: I love the idea of having a puzzle at a conference where you have to find a specific person to solve it. And yeah, I'm always interested in ways where we can have these events where you're getting together and building community and growing expertise in a field but in a way that makes it fun [laughs] and isn't just life-draining long, like, talks about random stuff. RISHI: [laughs] I think what you're touching on there is crucial. And you said the word community, and, to me, that is, you know, a big part of what DEF CON and, you know, hacking and security culture is. But it is, I think, one of the things that kind of outside of this, we tend to miss it more, you know, specifically, like, focused conferences. It is more about kind of the content, you know, the hallway track is always a thing. But it's less intentional than I personally, at this stage, really prefer, you know. So, I do like those things where it is encouraging interaction. For me, I'd rather go to happy hour with some people who are really well versed in the subject that they're in rather than even necessarily listening to a talk from them on what they're doing. Simply because I think the community aspect, the social aspect, actually gets you more of the information that is more relevant to what you're doing on a day-to-day basis than just consuming it passively. VICTORIA: I agree because consuming it passively or even intentionally remotely, there are things that you didn't even think to think about [laughs] that aren't going to come up just on your own. You have to have another person there who's...Actually, I have a good friend who's co-working with me this week who's at Ticketmaster. And so, just hearing about some of the problems they have and issues there has been entertaining for me. So yeah, I love that about DEF CON, and I love hearing about community stories and fun ways that companies can get a benefit out of coming together and just putting good content out there. RISHI: Absolutely. I think problem-solving is where you get the most value out of it as a company and as a business. VICTORIA: Yeah, maybe that's a good segue to tell me a little bit more about your background and how you came to be where you are today. RISHI: Yeah. For me growing up, I was always that problem-solver type of person. So, I think that's what kind of naturally gravitated me towards tech and, you know, hardware and software engineering. You know, so, for me, I go back quite a while. I'd been doing a lot of development, you know, in the early days of my career. I started out doing firmware development back in the days of large tape libraries, right? So, if you think about, like, big businesses back before cloud was a big thing and even back before SSDs were a thing, you know, it was all spinning disks. It was all tape. And that's kind of the area that I started in. So, I was working on robots that actually move tapes around these giant tape libraries that are, you know, taller than I am that you can walk inside of because they're so big, for big corporations to be able to backup their data on an overnight basis. You have to do that kind of stuff. Then I started going into smaller and smaller companies, into web tech, into startups, then into venture-backed startups. And then, eventually, I started my own company and did that for a while. All of this is really just kind of, you know, software engineering in a nutshell, lots of different languages, lots of different technologies. But really, from the standpoint of, here's a whole bunch of hard problems that need to be solved. Let's figure out how we can do that and how we can make some money by solving some of these problems. That eventually kind of led me down the security path as well and the engineering management side of things, which is what I do now, both at Backstop...is a security consulting business and being VP of Engineering at Varo Bank. WILL: How was your journey? Because you started as an intern in 2003. RISHI: [laughs] WILL: And then, you know, 20 years later. So, how was your journey through all of that? [laughs] RISHI: [laughs] You know, I hadn't actually put it together that it has been 20 years this year until you said that. So, that's awesome. It's been a blast, you know. I can honestly say it's been wildly different than what I imagined 20 years ago and interesting in different ways. I think I'm very fortunate to be able to say that. When I started out as an intern in 2003, technologies were very different. I was doing some intern shifts with the federal government, you know, so the pace was wildly different. And when I think of where technology has come now, and where the industry has gone, and what I get to do on a day-to-day basis, I'm kind of just almost speechless at just how far we've come in 20 years, how easy some things are, how remarkably hard some other things are that should honestly be easy at this point, but just the things that we can do. I'm old enough that I remember cell phones being a thing and then smartphones coming out and playing with them and being like, yeah, this is kind of mediocre. I don't really know why people would want this. And the iPhone coming out and just changing the game and being like, okay, now I get it. You know, to the experience of the internet and, you know, mobile data and everywhere. It's just phenomenal the advances that we've had in the last 20 years. And it makes me excited for the next 20 years to see what we can do as we go forward. VICTORIA: I'm going to take personal offense to someone knowing that technology being too old [laughs], but, yeah, because it really wasn't that long ago. And I think one thing I always think about having a background in civic tech and in financial tech as well is that the future is here; it's just not evenly distributed. So, now, if you're building a new company, of course, the default is to go straight to the cloud. But many companies and organizations that have been around for 60-80 years and using the internet right when it first came out are still in really old technologies that just simply work. And maybe they're not totally sure why, and change is difficult and slow. So, I wonder if you have any experience that you can take from the banking or fintech industry on how to make the most out of modern security and compliance platforms. RISHI: Yeah, you know, I think most people in tech especially...and the gray hairs on me are saying the younger folks in tech especially don't realize just how much older technologies still exist and will exist for quite some time. When you think of banking itself, you know, most of the major companies that you can think of, you know, in the U.S. especially but kind of across the world that are the top tier names of banks, and networks, and stuff like that, still run mainframes. When you swipe your credit card, there's a very good chance that is processed on a mainframe. And that's not a bad thing. But it's just, you know when you talk to younger engineers, it's not something that kind of crosses their mind. They feel like it is old-tech. The bulk of businesses don't actually run on the cloud. Having been through it, I've racked and stacked servers and had to figure out how to physically take hardware across, you know, country borders and things like those lines. And now, when I do want to spin up a server somewhere else, it's just a different AWS region. So, it's remarkably easy, at this point, to solve a lot of those problems. But once you're up and live and you have customers, you know, where downtime is impactful or, you know, the cost of moving to the cloud or modernizing your technology is substantial, things tend to move a lot slower. And I think you see that, especially when it comes to security, because we have more modern movements like DevOps bringing security into it. And with a lot of the, you know, the modern security and compliance platforms that exist, they work very, very well for what they do, especially when you're a startup or your whole tech stack is modernized. The biggest challenges, I think, seem to come in when you have that hybrid aspect of it. You do have some cloud infrastructure you have to secure. You do have some physical data centers you have to secure. You have something that is, you know, on-premise in your office. You have something that is co [inaudible 10:01] somewhere else. Or you also have to deal with stuff like, you know, much less modern tech, you know, when it comes to mainframes and security and kind of being responsible for all of that. And I think that is a big challenge because security is one of those things where it's, you know, if you think of your house, you can have the strongest locks on your door and everything else like that. But if you have one weak point, you have a window that's left open, that's all it takes. And so, it has to be all-inclusive and holistic. And I think that is remarkably hard to do well, even despite where technology has come to these days. WILL: Speaking of securities, I remember when the Internet banking started a couple of years ago. And some of the biggest, I guess, fears were, like, the security around it, the safety. Because, you know, your money, you're putting your money in it, and you can't go to a physical location to talk to anyone or anything. And the more and more you learn about it...at first, I was terrified of it because you couldn't go talk to someone. But the more and more I learned about it, I was like, oh, there's so much security around it. In your role, what does that look like for you? Because you have such a huge impact with people's money. So, how do you overcome that fear that people have? RISHI: There's, I think, a number of steps that kind of go into it. And, you know, in 2023, it's certainly a little bit easier than it used to be. But, you know, very similar, I've had the same questions, you know, and concerns that you're describing. And I remember using one of the first banks that was essentially all digital and kind of wondering, you know, where is my money going? What happens if something goes wrong? And all of those types of things. And so, I think there is kind of a number of different aspects that go into it. One is, you know, obviously, the technical aspects of security, you know, when you put your credit card number in on the internet, you know, is it encrypted? You know, is it over, you know, TLS? What's happening there? You know, how safe and secure is all that kind of thing? You know, at this point, pretty much everyone, at least in the U.S., has been affected by credit card breaches, huge companies like Home Depot and Target that got cards accessed or, you know, just even the smaller companies when you're buying something random from maybe something...a smaller website on the internet. You know, that's all a little bit better now. So, I think what you have there was just kind of a little bit of becoming comfortable with what exists now. The other aspect, though, I think, then comes into, well, what happens when something goes wrong? And I think there's a number of aspects that are super helpful for that. I think the liability aspect of credit card, you know, companies saying, you know, and the banks "You're not liable for a fraudulent transaction," I think that was a very big and important step that really helps with that. And on top of that, then I think when you have stuff like the FDIC, you know, and insurance in the U.S., you know, that is government-backed that says, you know what? Even if this is an online-only digital bank, you're safe. You're protected. The government's got your back in that regard. And we're going to make sure that's covered. At Varo, that's one of the key things that we think about a lot because we are a bank. Now, most FinTechs, actually, aren't banks, right? They partner with other third-party banks to provide their financial services. Whereas at Varo, we are federally regulated. And so, we have the full FDIC protection. We get the benefits of that. But it also means that we deal with the regulation aspects and being able to prove that we are safe and secure and show the regulators that we're doing the right things for our customers. And I think that's huge and important because, obviously, it's safety for customers. But then it changes how you begin to think about how you're designing products, and how you're [inaudible 13:34] them, and, you know, how you're marketing them. Are we making a mobile app that shows that we're safe, and secure, and stable? Or are we doing this [inaudible 13:42] thing of moving too fast and breaking things? When it's people's money, you have to be very, very dialed into that. You still have to be able to move fast, but you have to show the protection and the safety that people have because it is impactful to their lives. And so, I think from the FinTech perspective, that's a shift that's been happening over the last couple of years to continue that. The last thing I'll say, too, is that part of it has just come from technology itself and the comfort there. It used to be that people who were buying, you know, items on the internet were more the exception rather than the rule. And now with Amazon, with Shopify, with all the other stuff that's out there, like, it's much more than a norm. And so, all of that just adds that level of comfort that says, I know I'm doing the right things as a consumer, that I'm protected. If I, you know, do have problems, my bank's got my back. The government is watching out for what's happening and trying to do what they can do to regulate all of that. So, I think all of that has combined to get to that point where we can do much more of our banking online and safely. And I think that's a pretty fantastic thing when it comes to what customers get from that. I am old enough that I remember having to figure out times to get to the bank because they're open nine to five, and, you know, I have to deposit my paycheck. And, you know, I work nine to five, and maybe more hours pass, and I had no idea when I can go get that submitted. And now, when I have to deposit something, I can just take a picture with my phone, and it safely makes it to my account. So, I think the convenience that we have now is really amazing, but it has certainly taken some time. And I think a number of different industry and commercial players kind of come together and make that happen. MID-ROLL AD: Now that you have funding, it's time to design, build, and ship the most impactful MVP that wows customers now and can scale in the future. thoughtbot Liftoff brings you the most reliable cross-functional team of product experts to mitigate risk and set you up for long-term success. As your trusted, experienced technical partner, we'll help launch your new product and guide you into a future-forward business that takes advantage of today's new technologies and agile best practices. Make the right decisions for tomorrow today. Get in touch at thoughtbot.com/liftoff. VICTORIA: I appreciate that perspective on approaching security from the user experience of wanting safety. And I'm curious if we can talk in contrast from that experience to the developer experience with security. And how do you, as a new leader in this financial product company, prioritize security and introduce it from a, like, building a safety culture perspective? RISHI: I think you just said that very eloquently. It is a safety culture. And cultural changes are hard. And I think for quite some time in the developer industry, security was either an afterthought or somebody else's problem. You know, it's the security team that has to think about it. It's, you know, and even these days, it's the red team that's going to go, you know, find these answers or whatever I'm shipping as a developer. My only thing to focus on is how fast I can ship, or, you know, what I'm shipping, rather than how secure is what I'm shipping. And so, I think to really be effective at that, it is a cultural shift. You have to think and talk about security from the outset. And you have to bake those processes into how you build product. Those security conversations really do need to start at the design phase. And, you know, thinking about a mobile app for a bank as an example, you know, it starts when you're just thinking about the different screens on a mobile app that people are going to go through. How are people interpreting this? You know, what is the [inaudible 17:23], and the feeling, and the emotions, that we're building towards? You know, is that safe and secure or, you know, is it not? But then it starts getting to the architecture and the design of the systems themselves to say, well, here's how they're going to enter information, here's how we're passing this back and forth. And especially in a world where a lot of software isn't just 100% in-house, but we're calling other partners for that, you know, be it, you know, infrastructure or risk, you know, or compliance, or whatever else it may be, how are we protecting people's data? How are we making sure our third parties are protecting people's data? You know, how are we encrypting it? How are we thinking about their safety all the way through? Again, even all the way down to the individual developer that's writing code, how are we verifying they're writing good, high-quality, secure code? Part of it is training, part of it is culture, part of it is using good tooling around that to be able to make sure and say, when humans make mistakes because we are all human and we all will make mistakes, how are we catching that? What are the layers do we have to make sure that if a mistake does happen, we either catch it before it happens or, you know, we have defense in depth such that that mistake in and of itself isn't enough to cause a, you know, compromise or a problem for our customers? So, I think it starts right from the start. And then, every kind of step along the way for delivering value for customers, also let's add that security and privacy and compliance perspective in there as well. VICTORIA: Yes, I agree. And I don't want to work for a company where if I make a small human mistake, I'm going to potentially cost someone tens or however many thousands of dollars. [laughs] WILL: I have a question around that. How, as a leader, how does that affect you day to day? Because I feel like there's some companies, maybe thoughtbot, maybe other companies, that a decision is not as critical as working as a bank. So, you, as a leader, how do you handle that? RISHI: There's a couple of things I try and consider in any given big or important decision I have to make, the aspects around, like, you know, the context, what the decision is, and that type of stuff. But from a higher level, there's kind of two things I try and keep in mind. And when I say keep in mind, like, when it's a big, impactful decision, I will actually go through the steps of, you know, writing it down or talking this out loud, sometimes by myself, sometimes with others, just, again, to make sure we are actually getting to the meat of it. But the first thing I'm trying to think of is kind of the Amazon idea of one-way versus two-way doors. If we make this decision and this is the wrong decision, what are the ramifications of that? You know, is it super easy to undo and there's very little risk with it? Or is it once we've made this decision or the negative outcome of this decision has happened, is it unfixable to a certain degree? You know, and that is a good reminder in my head to make sure that, you know, A, I am considering it deeply. And that, B, if it is something where the ramifications, you know, are super huge, that you do take the time, and you do the legwork necessary to make sure you're making a good, valid decision, you know, based on the data, based on the risks involved and that there's a deep understanding of the problem there. The second thing I try to think of is our customers. So, at Varo, our customers aren't who most banks target. A lot of banks want you to take all your money, put it in there, and they're going to loan that money out to make their money. And Varo is not that type of bank, and we focus on a pretty different segment of the market. What that means is our customers need their money. They need it safely and reliably, and it needs to be accurate when they have it. And what I mean by that is, you know, frequently, our customers may not have, you know, hundreds or a thousand dollars worth of float in their bank accounts. So, if they're going and they're buying groceries and they can't because there's an error on our side because we're down, and because the transactions haven't settled, then that is very, very impactful to them, you know, as an individual. And I think about that with most of these decisions because being in software and being in engineering I am fortunate enough that I'm not necessarily experiencing the same economic struggles that our customers may have. And so, that reminder helps me to think about it from their perspective. In addition, I also like to try and think of it from the perspective...from my mom, actually, who, you know, she is retired age. She's a teacher. She's non-technical. And so, I think about her because I'd say, okay, when we're making a product or a design decision, how easy is it for her to understand? And my biases when I think about that, really kind of come into focus when I think about how she would interpret things. Because, you know, again, for me, I'm in tech. I think about things, you know, very analytically. And I just have a ton of experience across the industry, which she doesn't have. So, even something as simple as a little bit of copy for a page that makes a ton of sense to me, when I think about how she would interpret it, it's frequently wildly different. And so, all of those things, I think, kind of come together to help make a very strong and informed decision in these types of situations where the negative outcomes really do matter. But you are, you know, as Varo is, you're a startup. And you do need to be able to build more products quickly because our customers have needs that aren't being met by the existing banking industry. And so, we need to provide value to them so that their lives are a bit better. VICTORIA: I love that focus on a specific market segment and their needs and solving for that problem. And we know that if you're at a certain income level, it's more expensive [laughs] because of the overdraft fees and other things that can cause you problems. So, I really appreciate that that's the mission at Varo, and that's who you're focusing on to create a better banking product that makes more sense. I'm curious if there were any surprises and challenges that you could share from that discovery process and finding out, you know, exactly what were those things where your mom was, like, uh, actually, I need something completely different. [laughs] RISHI: Yeah, so, [chuckles] I'm chuckling because, you know, it's not, like, a single kind of time or event. It's, you know, definitely an ongoing process. But, you know, as actually, we were talking, you know, about earlier in terms of being kind of comfortable with doing things digital and online, that in and of itself is something that even in 2023, my mom isn't as comfortable or as confident as, you know, say, maybe the three of us are. As an example, when sending money, you know, kind of like a peer-to-peer basis, like, if I'm sending my mom a little bit of money, or she's sending me something, you're kind of within the family. Things that I would think would be kind of very easy and straightforward actually do cause her a little bit more concern. Okay, I'm entering my debit card number into this so that it can get, you know, the cash transferred into my bank account. You know, again, for me, it didn't even cross my mind, actually, that that would be something uncomfortable. But for my mom, that was something where she actually had some concerns about it and was messaging me. Her kind of personal point of view on that was, I would rather use a credit card for this and get the money on a credit card instead of a debit card because the debit card is linked to a bank account, and the security around that needs to be, you know, much tighter. And so, it made her more uncomfortable entering that on her phone. Whereas even a credit card it would have given her a little bit more peace of mind simply because it wasn't directly tied to her bank account. So, that's just, you know, the most recent example. I mean, honestly, that was earlier today, but it's something I hadn't thought of. And, again, for most of our customers, maybe that's not the case and how they think. But for folks that are at that retirement age, you know, in a world where there are constant barrages of scam, you know, emails, and phone calls, and text messages going around, the concern was definitely there. VICTORIA: That happened to me. Last week, I was on vacation with my family, and we needed to pay my mom for the house we'd rented. And I had to teach her how to use Zelle and set up Zelle. [laughter] It was a week-long process. But we got there, and it works [laughs] now. But yeah, it's interesting what concerns they have. And the funny part about it was that my sister-in-law happens to be, like, a lawyer who prevents class action lawsuits at a major bank. And she reassured us that it was, in fact, secure. [laughs] I think it's interesting thinking about that user experience for security. And I'm curious, again, like, compare again with the developer experience and using security toolings. And I wonder if you had any top recommendations on tools that make the developer experience a little more comfortable and feeling like you're deploying with security in mind. RISHI: That, in particular, is a bit of a hard question to answer. I try and stay away from specific vendors when it comes to that because I think a lot of it is contextual. But I could definitely talk through, like, some of the tools that I use and the way I like to think about it, especially from the developer perspective. I think, first off, consider what aspect of the software development, you know, lifecycle you're in. If you are an engineer writing, you know, mostly application code and dealing with building product and features and stuff like that, start from that angle. I could even take a step back and say security as an industry is very, very wide at this point. There is somebody trying to sell you a tool for basically every step in the SDLC process, and honestly, before and after to [inaudible 26:23]. I would even almost say it's, to some extent, kind of information and vendor overload in a lot of ways. So, I think what's important is to think about what your particular aspect of that is. Again, as an application engineer, or if you're building cloud infrastructure, or if you're an SRE, you know, or a platform team, kind of depending on what you are, your tooling will be different. The concepts are all kind of similar ideas, but how you go about what you build will be different. In general, I like to say, from the app side of things, A, start with considering the code you're writing. And that's a little bit cultural, but it's also kind of more training. Are you writing code with a security mindset? are you designing systems with a security mindset? These aren't things that are typically taught, you know, in school if you go get a CS degree, or even in a lot of companies in terms of the things that you should be thinking about. So, A, start from there. And if you don't feel like you think about, you know, is this design secure? Have we done, you know, threat modeling on it? Are we considering all of the error paths or the negative ways people can break the system? Then, start from that and start going through some of the security training that exists out there. And there's a lot of different aspects or avenues by which you can get that to be able to say, like, okay, I know I'm at least thinking about the code I write with a security mindset, even if you haven't actually changed anything about the code you're writing yet. What I actually think is really helpful for a lot of engineers is to have them try and break things. It's why I like to compete in CTFs, but it's also why I like to have my engineers do the same types of things. Trying to break software is both really insightful from the aspect that you don't get when you're just writing code and shipping it because it's not something you have time to do, but it's also a great way to build up some of the skills that you need to then protect against. And there's a lot of good, you know, cyber ranges out there. There's lots of good, just intentionally vulnerable applications that you can find on GitHub but that you can just run, you know, locally even on your machine and say, okay, now I have a little web app stood up. I know this is vulnerable. What do I do? How do I go and break it? Because then all of a sudden, the code that you're writing you start to think about a little bit differently. It's not just about how am I solving this product problem or this development problem? But it's, how am I doing this in a way that is safe and secure? Again, as an application side of things, you know, just make sure you know the OWASP Top 10 inside and out. Those are the most basic things a lot of engineers miss. And it only takes, again, one miss for it to be critical. So, start reviewing it. And then, you start to think about the tooling aspect of it. People are human. We're going to make mistakes. So, how do we use the power of technology to be able to stop this? You know, and there is static scanning tools. Like, there's a whole bunch of different ones out there. You know, Semgrep is a great one that's open source just to get started with that can help you find the vulnerable code that may exist there. Consider the SQL queries that you're writing, and most importantly, how you're writing them. You know, are you taking user input and just chucking it in there, or are you sanitizing it? When I ask these questions, for a lot of engineers, it's not usually yes or no. It's much more of an, well, I don't know. Because in software, we do a really good job of writing abstraction layers. But that also means, you know, to some extent, there may be a little bit of magic in there, or a lack thereof of magic that you don't necessarily know about. And so, you have to be able to dive into the libraries. You have to know what you're doing to even be able to say something like, oh no, this SQL query is safe from this user input because we have sanitized it. We have, you know, done a prepared statement, whatever it may be. Or, no, actually, we are just doing something here that's been vulnerable, and we didn't realize we were, and so now that's something we have to address. So, I think, like, that aspect in and of itself, which isn't, you know, a crazy ton of things. It's not spending a ton of money on different tools. But it's just internalizing the fact that you start to think a little bit differently. It provides a ton of value. The last thing on that, too, is to be able to say, especially if you're coming from a development side, or even just from a founder or a startup side of things, what are my big risks? What do I need to take care of first? What are the giant holes or flaws? You know, and what is my threat model around that? Obviously, as a bank, you have to care very deeply right from the start. You know, if you're not a bank, if you're not dealing with financial transactions, or PII, or anything like that, there are some things that you can deal with a little bit later. So, you have to know your industry, and you have to know what people are trying to do and the threat models and the threat vectors that can exist based on where you are. WILL: That's amazing. You know, earlier, we talked about you being an engineer for 20 years, different areas, and stuff like that. Do you have any advice for engineers that are starting out right now? And, you know, from probably year one to year, you know, anything under ten years of experience, do you have any advice that you usually give engineers when you're chatting with them? RISHI: The advice I tend to give people who are just starting out is be the type of person that asks, "How does this work?" Or "Why does this work?" And then do the work to figure out the answer. Maybe it is talking to someone; maybe it's diving into the details; maybe it's reading a book in some aspect that you haven't had much exposure to. When I look at my career and when I look at the careers of folks around me and the people that I've seen be most successful, both in engineering but also on the business side, that desire to know why something is the case is I think, one of the biggest things that determines success. And then the ability to answer that question by putting in the right types of work, the right types of scientific method and processes and such, are the other factor. So, to me, that's what I try and get across to people. I say that mostly to junior folks because I think when you're getting started, it's really difficult. There's a ton out there. And we've, again, as software engineers, and hardware engineers, and cloud, and all this kind of stuff, done a pretty good job of building a ton of abstraction layers. All of our abstraction layers [inaudible 32:28] to some degree. You know, so as you start, you know, writing a bunch of code, you start finding a bunch of bugs that you don't necessarily know how to solve and that don't make any sense in the avenue that you've been exposed to. But as soon as you get into the next layer, you understand how that works begin to make a lot more sense. So, I think being comfortable with saying, "I have no idea why this is the case, but I'm going to go find out," makes the biggest difference for people just starting out their career. WILL: I love that advice. Not too long ago, my manager encouraged me to write a blog post on something that I thought that I really knew. And when I started writing that blog post, I was like, oh boy, I have no idea. I know how to do it, but I don't know the why behind it. And so, I was very thankful that he encouraged me to write a blog post on it. Because once you start explaining it to other people, I feel you really have to know the whys. And so, I love that advice. That's really good advice. VICTORIA: Me too. And it makes sense with what we see statistically as well in the DORA research. The DevOps Research Association publishes a survey every year, the State of DevOps Report. And one of the biggest findings I remember from last year's was that the most secure and reliable systems have the most open communication and high trust among the teams. And so, being able to have that curiosity as a junior developer, you need to be in an environment where you can feel comfortable asking questions [laughs], and you can approach different people, and you're encouraged to make those connections and write blog posts like Will was saying. RISHI: Absolutely, absolutely. I think you touched on something very important there as well. The psychological safety really makes a big difference. And I think that's critical for, again, like, folks especially earlier in their career or have recently transitioned to tech, or whatever the case may be. Because asking "Why?" should be something that excites people, and there are companies where that's not necessarily the case, right? Where you asking why, it seems to be viewed as a sign that you don't know something, and therefore, you're not as good as what you should be, you know, the level you should be at or for whatever they expect. But I do think that's the wrong attitude. I think the more people ask why, the more people are able and comfortable to be able to say, "I don't know, but I'm going to go find out," and then being able to be successful with that makes way better systems. It makes way safer and more secure systems. And, honestly, I think it makes humans, in general, better humans because we can do that. VICTORIA: I think that's a great note to start to wrap up on. Is there any questions that you have for me or Will? RISHI: Yeah. I would love to hear from both of you as to what you see; with the experiences that you have and what you do, the biggest impediments or speed bumps are when it comes to developers being able to write and ship secure code. VICTORIA: When we're talking with new clients, it depends on where they are in really the adoption of their product and the maturity of their organization. Some early founders really have no technology experience. They have never managed an IT organization. You know, setting up basic employee account access and IDs is some of the initial steps you have to take to really get to where you can do identity management, and permissions management, and all the things that are really table stakes for security. And then others have some progress, and they have a fair amount of data. And maybe it's in that situation, like you said before, where it's really a trade-off between the cost and benefit of making those changes to a more secure, more best practice in the cloud or in their CI/CD pipeline or wherever it may be. And then, when you're a larger organization, and you have to make the trade-offs between all of that, and how it's impacting your developer experience, and how long are those deployed times now. And you might get fewer rates of errors and fewer rates of security vulnerabilities. But if it's taking three hours for your deployments to go out [laughs] because there's so many people, and there's so many checks to go through, then you have to consider where you can make some cuts and where there might be more efficiencies to be gained. So, it's really interesting. Everyone's on a different point in their journey. And starting with the basics, like you said, I love that you brought up the OWASP Top 10. We've been adopting the CIS Controls and just doing a basic internal security audit ourselves to get more ready and to be in a position where... What I'm familiar with as well from working in federal agencies, consulting, maintaining some of the older security frameworks can be a really high cost, not only in terms of auditing fees but what it impacts to your organization to, like, maintain those things [laughs] and the documentation required. And how do you do that in an agile way, in a way that really focuses on addressing the actual purpose of the requirements over needing to check a box? And how do we replicate that for our clients as well? RISHI: That is super helpful. And I think the checkbox aspect that you just discussed I think is key. It's a difficult position to be in when there are boxes that you have to check and don't necessarily actually add value when it comes to security or compliance or, you know, a decrease in risk for the company. And I think that one of the challenges industry-wide has always been that security and compliance in and of itself tends to move a little bit slower from a blue team or a protection perspective than the rest of the industry. And so, I mean, I can think of, you know, audits that I've been in where, you know, just even the fact that things were cloud-hosted just didn't make sense to the auditors. And it was a struggle to get them to understand that, you know, there is shared responsibility, and this kind of stuff exists, and AWS is taking care of some things, and we're taking care of some other things when they've just been developed with this on-premise kind of mentality. That is one of the big challenges that still exists kind of across the board is making sure that the security work that you're doing adds security value, adds business value. It isn't just checking the box for the sake of checking the box, even when that's sometimes necessary. VICTORIA: I am a pro box checker. RISHI: [laughs] VICTORIA: Like, I'll get the box checked. I'll use Trello and Confluence and any other tool besides Excel to do it, too. We'll make it happen with less pain, but I'd rather not do it [laughs] if we don't have to. RISHI: [laughs] VICTORIA: Let's make it easy. No, I love it. Is there anything else that you want to promote? RISHI: No, I don't think there's anything else I want to promote other than I'm going to go back to what I said just earlier, like, that culture. And if, you know, folks are out there and you have junior engineers, you have engineers that are asking "Why?", you have people that just want to do the right thing and get better, lean into that. Double down on those types of folks. Those are the ones that are going to make big differences in what you do as a business, and do what you can to help them out. I think that is something we don't see enough of in the industry still. And I would love for that to change. VICTORIA: I love that. Thank you so much, Rishi, for joining us. RISHI: Thanks for having me. This was a great conversation. I appreciate the time. VICTORIA: You can subscribe to the show and find notes along with a complete transcript for this episode at giantrobots.fm. If you have questions or comments, email us at hosts@giantrobots.fm. And you can find me on Twitter @victori_ousg. WILL: And you could find me on Twitter @will23larry. This podcast is brought to you by thoughtbot and produced and edited by Mandy Moore. Thanks for listening. See you next time. ANNOUNCER: This podcast is brought to you by thoughtbot, your expert strategy, design, development, and product management partner. We bring digital products from idea to success and teach you how because we care. Learn more at thoughtbot.com. Special Guest: Rishi Malik.

An Imprest Supply Bill is Parliament's way of saying to the government 'yes you can have that money, but also if you find you need to use more money on it, you don't need to come back and ask again'.

Bloomberg News Financial Regulations Reporter Ben Bain explains how the FDIC bailout of deposits following the collapse of Silicon Valley Bank also benefitted bigger companies that were in no real financial danger. Ed Price, Principal at Ergo, discusses the latest news on Russia's war with Ukraine. SailGP CEO Sir Russell Coutts talks about bringing the sport of sail racing to the mainstream. And we Drive to the Close with Sylvia Jablonski, CEO & CIO at Defiance ETFs. Hosts: Carol Massar and Matt Miller. Producer: Paul Brennan.See omnystudio.com/listener for privacy information.

Htown Wheelhouse and Eric Huysman talk about the 1st results of the All-Star Balloting, and one local kid got quite a few votes! Also, the debate over who should be starting between Maldonado and Diaz has everyone talking, from Social Media to Houston Radio.Locked On Astros, the daily podcast about the Houston Astros, hosted by Eric Huysman and Brett Chancey, is part of the Locked On Podcast Network.Be sure to subscribe to Locked On Astros on YouTube, Apple Podcasts, Spotify, or wherever you get your podcasts, and come back every weekday morning and spend your morning commute listening to the latest Astros news and notes. Thanks for listening, and tell your friends!We now have a YouTube channel as well, so go subscribe to that as well and get us to 10k subscribers! https://www.youtube.com/channel/UC9fXhBb2-ZTiPwk7WNwYjzQhttps://linktr.ee/LockedOnAstrosFollow & Subscribe on all Podcast platforms…

Htown Wheelhouse and Eric Huysman talk about the 1st results of the All-Star Balloting, and one local kid got quite a few votes! Also, the debate over who should be starting between Maldonado and Diaz has everyone talking, from Social Media to Houston Radio. Locked On Astros, the daily podcast about the Houston Astros, hosted by Eric Huysman and Brett Chancey, is part of the Locked On Podcast Network. Be sure to subscribe to Locked On Astros on YouTube, Apple Podcasts, Spotify, or wherever you get your podcasts, and come back every weekday morning and spend your morning commute listening to the latest Astros news and notes. Thanks for listening, and tell your friends! We now have a YouTube channel as well, so go subscribe to that as well and get us to 10k subscribers! https://www.youtube.com/channel/UC9fXhBb2-ZTiPwk7WNwYjzQ https://linktr.ee/LockedOnAstros Follow & Subscribe on all Podcast platforms…

The Government has put more money down to stop housing developments from failing. They've made $159 million available to get affordable housing projects which would otherwise stall, off the ground.  NZ Herald Wellington business editor Jenee Tibshraeny explains that the Government will either buy “build-ready” land or pre-purchase or underwrite homes. "This $159 million it's putting on the table- it might not actually cost $159 million and it might just backstop some of these developers that are running into trouble at the moment." LISTEN ABOVESee omnystudio.com/listener for privacy information.

A Full Bank Deposit Backstop Is Impossible The Fed, Treasury and the FDIC are writing a check they can't cash. Based on their rhetoric, the three Government organizations have implied that they will backstop all bank deposits. It would be impossible for this unholy triumvirate to do so given the tab could be north of $15 Trillion at the extreme. MORE BANK FAILURES ARE COMING There were 563 U.S. bank failures from 2001 through 2023 (chart below). 465 of those banks failed between 2008-2012. Those 465 banks had combined assets of $689 Billion. 2 U.S. banks have failed with combined assets of $319 Billion year-to-date (through March 14th). The asset destruction this time around will be far worse than the Great Financial Crisis of 2008, even if the Fed was to take rates to zero percent tomorrow. A POTENTIAL MULTI- $ TRILLION LIQUIDITY CRUNCH All FDIC banks had $19.2 Trillion of deposits (table below) with $12.0 Trillion of loans outstanding. This represents a loan-to-deposit ratio of 63% (as of 12/31/22). That is to say that at a minimum, 63% of deposits are not on hand. This obviously presents a problem should a majority of depositors wish to withdraw their money at the same time. However, the problem is even more serious. While 63% of all deposits were loaned out as of 12/31/22, that is not to say that the remaining 37% of deposits were on hand. No, that's hardly the case. You can be certain that a significant portion of those deposits were deployed across various financial instruments, some of them long-term in nature. For example, Silicon Valley Bank (SVB), had a loan-to-deposit ratio of 43% at the time of its collapse as deposits not deployed as loans were deployed across other financial instruments (many of long duration). This duration mismatch created a liquidity crunch. If there was a full run on all FDIC banks, some number between $12.0 Trillion and $19.2 Trillion is deployed in the economy which would force the banks to generate liquidity by selling other assets. These actions would not cover the tab. Thus, the Fed, Treasury and the FDIC would be on the hook for more than half of U.S. GDP were it to provide a full deposit backstop. That's not going to happen. Which banks are safe? The triumvirate could backstop J.P. Morgan, Bank of America, Wells Fargo and Citi, but not a full backstop if a bank run were to occur at all four banks simultaneously. To backstop 100% of deposits at all four banks simultaneously would be impossible as we are talking about $7.0 Trillion in deposits across the four banks (as of 12/31/2022), of which $3.8 Trillion have been extended as loans to say nothing of how the remaining $3.2 Trillion in deposits may be deployed. https://tek2day.com/2023/03/25/a-full-bank-deposit-backstop-is-impossible/

Another game-stealing performance from Juuse Saros and big games from several of the team's new faces propelled the Nashville Predators to a clutch 2-1 win over the Seattle Kraken. In addition to keeping the Preds in the playoff chase, this game represented a lot of positive things the Preds can build on moving forward. In today's show, we highlight the plethora of new players -- like Kiefer Sherwood, Luke Evangelista, Tommy Novak, and Phil Tomasino -- who have elevated their games when the Preds were most in need of heroes. We also look at Saros's big night and the one aspect of his game that's helped the Predators steal wins, and why John Hynes and David Poile deserve credit for the Preds' performance down the stretch.Follow & Subscribe on all Podcast platforms…

Another game-stealing performance from Juuse Saros and big games from several of the team's new faces propelled the Nashville Predators to a clutch 2-1 win over the Seattle Kraken. In addition to keeping the Preds in the playoff chase, this game represented a lot of positive things the Preds can build on moving forward. In today's show, we highlight the plethora of new players -- like Kiefer Sherwood, Luke Evangelista, Tommy Novak, and Phil Tomasino -- who have elevated their games when the Preds were most in need of heroes. We also look at Saros's big night and the one aspect of his game that's helped the Predators steal wins, and why John Hynes and David Poile deserve credit for the Preds' performance down the stretch. Follow & Subscribe on all Podcast platforms…

Jim Cramer and David Faber focused on the latest developments surrounding the turmoil in the banking sector: In prepared remarks for a speech to the American Bankers Association, Treasury Secretary Janet Yellen said that the government could backstop more deposits if necessary to stop potential contagion. First Republic led regional bank shares higher on news that JPMorgan Chase is advising the company on strategic alternatives including a capital raise. Also in focus: The Fed kicks off its two-day policy meeting, a preview of Nvidia CEO Jensen Huang's keynote speech on AI to the company's developer conference, what the CEO of TikTok said ahead of his Capitol Hill testimony on Thursday, Amazon layoffs, Moody's ups Tesla's debt from junk status. 

It just takes one bank getting into trouble before the banking system is delicately balanced. It causes stress and strain throughout the entire banking system. It is all about confidence […] The post Banks Rush to Backstop Liability with SVB Collapse appeared first on Dupree Financial.

Robert Kiyosaki, author of the popular financial book "Rich Dad Poor Dad," has warned that Credit Suisse, a major Swiss bank, will collapse due to its exposure to the troubled hedge fund Archegos Capital Management. Kiyosaki believes that the collapse of Credit Suisse will have ripple effects throughout the financial system and advises people to invest in tangible assets like gold, silver, and Bitcoin.

I connected with Dave Lotan, investor and friend of MSD, to get his thoughts on the event over the weekend regarding the two bank failures. Dave and I tackle a number of different themes in our conversation, including the differences of culture and communication technology during this moment in financial history compared to what we saw in 2007/2008. Dave also sincerely expresses his concern over the new tools used to backstop depositors from Silicon Valley Bank and why it reinforces the reasons one owns precious metals.

Molly Ball, national political correspondent for TIME and the author of Pelosi (Henry Holt and Co., 2020), talks about the deal to protect banking in the fallout of Silicon Valley Bank's failure, plus Pres. Biden's budget plan, and other national political news.

With Calif storms hitting at a relentless pace, Spencer Christian joins to give us the latest and tells us how bad it will be and for what areas. Over the weekend the government decided to step in and protect depositors at SVB. It's a different kind of bank bailout than in 2008. But how different is it? Pulitzer winner and business writer for the LA Times, Michael Hiltzik is here to explain. Courtney joins as she does every Monday with the mystery around the death of Robert Blake's wife. And Mark has Oscars reaction. Plus, Commissioner Albert explains Mark's Madness which starts this week!

The U.S. Treasury and the Federal Reserve are jointly preparing to launch a program to backstop deposits in excess of the Federal Deposit Insurance Corp. $250,000, according to people familiar with the matter. Most Republicans and Republican-leaning voters want former President Donald Trump as the 2024 GOP nominee, a recent survey from The Economist/YouGov shows. The Biden administration said Monday it is approving the controversial major Willow oil project on Alaska's petroleum-rich North Slope, one of President Joe Biden's most consequential climate choices that is likely to draw condemnation from environmentalists who say it flies in the face of the Democratic president's pledges. U.K. Prime Minister Rishi Sunak pledged Monday to increase military funding by 5 billion pounds ($6 billion) over the next two years in response to Russia's invasion of Ukraine and the “epoch-defining challenge” posed by China. The U.S. has begun an aggressive new push to inflict pain on Russia's economy and especially its oligarchs with the intent of thwarting the Kremlin's invasion of Ukraine. Iran announced Monday that the country's supreme leader has pardoned more than 22,000 people arrested in the recent anti-government protests that swept the Islamic Republic. There was no immediate independent confirmation of the mass release.See omnystudio.com/listener for privacy information.

Various press reports have indicated that the Biden administration intends to release its cyber strategy in the coming weeks. The cyber strategy will likely cover a range of issues. One potential topic could involve the creation of a federal response or “backstop” to the financial exposure risks that insurers and reinsurers face from future catastrophic cyber incidents affecting those that they insure. To talk about the pros and cons of a federal backstop for the cyber insurance ecosystem, Lawfare senior editor Stephanie Pell sat down with Bryan Cunningham, executive director of the Cybersecurity Research and Policy Institute at the University California, Irvine, who co-authored the article, “Uncle Sam Re: Improving Cyber Hygiene and Increasing Confidence in the Cyber Insurance Ecosystem via Government Backstopping.” They talked about what is keeping cyber insurance executives up at night, why the cyber insurance industry has not incentivized better cyber hygiene by the insured, and how a federally funded backstop could assist in shoring up the cyber insurance ecosystem.Support this show http://supporter.acast.com/lawfare. Hosted on Acast. See acast.com/privacy for more information.

No one tells you that you have to let GO before you can GROW. Resolutions shouldn't be limited to the New Year - here's how to set yourself up to grow ALL YEAR LONG

Rancho Mesa's Alyssa Burley and Surety Relationship Executive Anne Wright discuss how contractors can utilize payment bonds as a backstop for getting paid. Show Notes: Subscribe to Rancho Mesa's Newsletter. Director/Host: Alyssa Burley Guest: Anne Wright Editor/Producer: Lauren Stumpf Music: "Home" by JHS Pedals, “News Room News” by Spence © Copyright 2022. Rancho Mesa Insurance Services, Inc. All rights reserved.

Anthony and Michael are joined by the Dancing Ump from the Savannah Bananas as they talk about his umpiring career, love of baseball, and much more! --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/backstop-banter/support

So who's watching the watchdogs? - Inspectors general occasionally fail in the exercise of good conduct or exemplary leadership. When they do, there is a special committee of the Council of Inspectors General that is supposed to take action. Federal Drive host Tom Temin spoke with someone -- Joanna Derman, policy analyst at the Project on Government Oversight --who argues that the committee, known as the Integrity Committee, has fallen short of is responsibilities.

Connie and Michael are back to discuss wild card weekend in the MLB as the playoff field is finally set and they give their official predictions! They also give out their MLB awards. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/backstop-banter/support

Anthony and Michael are joined by Mat Wolf of the Savannah Bananas to talk all things Banana ball! The guys then talk MLB standings and go over their thoughts on the Home Run Derby! --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/backstop-banter/support

Anthony and Michael are finally back and discuss the current MLB standings, how important are Degrom and Mad Max to the Mets, and fill out the MLB All-Star ballot Review and leave a comment! Follow us on Twitter @BackstopBanter --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/backstop-banter/support

The Blue Jays are in the midst of a rough stretch but have tons of prowess at the catching position! The gang discusses the week that was and all things Blue Jays. Support the show: https://www.patreon.com/Birdwatchinggc See omnystudio.com/listener for privacy information.