A tale of two Americas in one $50K cash withdrawal
This week, I'm reading the results of a year-long investigative journalism project into one of those quirky topics that keeps coming up in life: what happens when you try to withdraw a lot of money from a bank in cash.
A piece from Vox Media's The Cut / New York Magazine had a surprising paragraph narrating what happened when one person tried. I found some elements... implausible.
This set me (and my research assistant Sammy, who helps produce this podcast) on a thrilling year-long adventure across Brooklyn and into the archives of several government departments. We asked: was that story the truth, the whole truth, and nothing but the truth? (Spoiler: one out of three.)
Timestamps
(00:55) Suppose you ask a bank to withdraw $50,000 in cash
(07:55) Style magazines sometimes publish hard-hitting journalism
(12:36) Reaching out to Vox Media
(17:09) Sources of doubt
(22:30) The physical reality of bank branches
(25:53) In which we became acquainted with brisk walks across Brooklyn
(34:42) New York’s Finest foil FOIL for a time
Transcript
(This week's episode was originally published in Bits about Money as Two Americas, one bank branch, and $50,000 cash. The podcast has minor differences, mostly to narrate the contents of images or hyperlinks, and so in lieu of a transcript we recommend following along on BAM, which we reproduce below for your convenience.)
