Timcast IRL · April 26, 2023 · 2h 0m
Timcast IRL #765 Major US Bank To BE SEIZED By US As Banks KEEP IMPLODING w/Leighton Woodhouse
Episode Recap
Timcast IRL episode 765, recorded on April 26, 2023, opened with Tim Pool discussing the alarming situation at First Republic Bank, which was expected to be seized by the U.S. government after losing approximately $72 billion in deposits during the first quarter of 2023. The bank had seen its shares sink nearly 50% following the broader banking crisis that began with Silicon Valley Bank's closure in March. Pool also addressed Joe Biden's announcement that he would be running for re-election, dismissing it as unremarkable news. The conversation then shifted to Fox News, where Pool noted the network had lost $1 billion in market value after firing Tucker Carlson, with Pool suggesting that Rupert Murdoch may have removed Carlson because he was becoming the face of Fox News, which threatened the brand itself. The show featured Leighton Woodhouse, a journalist who co-runs the substack Public with Michael Schellenberger and has reported extensively on crime, homelessness, and the censorship industrial complex, having been involved in the Twitter files. Co-hosts Seamus Coghlan and Adrian Norman joined the discussion, with the episode focusing primarily on the ongoing banking crisis and media industry upheaval.
TL;DR
- →First Republic Bank expected to be seized by U.S. government after losing $72 billion in deposits, following similar collapses to Silicon Valley Bank
- →Fox News lost $1 billion in market value after firing Tucker Carlson, with concerns about Fox Nation subscriber losses
- →Joe Biden announced his re-election campaign, which Tim Pool dismissed as unnewsworthy
- →Leighton Woodhouse appeared as guest, discussing his work on the censorship industrial complex and Twitter files
- →Tim Pool suggested Rupert Murdoch fired Tucker Carlson because he was becoming the face of Fox News rather than the brand itself
- →Cast Brew Coffee sponsorship was discussed, with the company launching pre-orders shipping by May 5th with various blends
Key Moments
- 0:00Opening and Bank NewsTim Pool opens the show discussing First Republic Bank's expected government seizure and the broader banking crisis
- 30:00Biden and Fox NewsDiscussion of Biden's re-election announcement and Fox News losing value after Tucker Carlson firing
- 60:00Tucker Carlson AnalysisDeep dive into why Rupert Murdoch may have wanted Tucker Carlson removed from Fox News
- 90:00Guest IntroductionLeighton Woodhouse introduced as journalist who co-runs Public substack with Michael Schellenberger and worked on Twitter files
- 120:00Co-host SegmentSeamus Coghlan and Adrian Norman introduced and welcomed to the show
Notable Quotes
“Remember how those banks were collapsing and we were really concerned about one of them and they said, no, everything's fine. You don't got to worry about that one bank. Well, now we got to worry about that one bank. It's First Republic.”
— Tim Pool · opening segment about banking crisis
“Maybe the reason Rupert Murdoch wanted to get rid of him is simply because he was becoming the face of Fox News, and that's a threat to Fox News. They want Fox News to be the brand, not Tucker Carlson.”
— Tim Pool · analysis of Tucker Carlson firing
“I'm a journalist. I have a substack called Public, which I run with Michael Schellenberger. Been reporting for a long time about crime, homelessness, drugs in the Bay Area. That's where I live. That's where Michael lives, as well as about the censorship industrial complex. We were both part of the Twitter files.”
— Leighton Woodhouse · guest introduction
“I saw Tim Robbins was tweeting about your work. And he's also like an old school leftist, like the traditional kind of leftist. Seems like a good dude.”
— Tim Pool · referencing Tim Robbins tweet about Leighton Woodhouse's censorship work
“Like Casper Coffee, I am also a robust dark blend.”
— Adrian Norman · co-host self-deprecating joke