Felix Salmon, Emily Peck, and Elizabeth Spiers discuss FDIC chair Martin Guenberg’s proposal to let big bank debt holders lose money before the uninsured depositors. Also, Rao’s upscale cornering of the red sauce market leads to its $2.7 billion sale to Campbell’s. Finally “The Wig”: Argentina’s right-wing primary winner Javier Milei’s arresting mop and his plan to toss out the currency.

In the Plus segment: Why can’t it be Halloween all year round?

If you enjoy this show, please consider signing up for Slate Plus. Slate Plus members get an ad-free experience across the network and an additional segment of our show every week. You’ll also be supporting the work we do here on Slate Money. Sign up now at slate.com/moneyplus to help support our work.

Podcast production by Kevin Bendis and Patrick Fort.

Learn more about your ad choices. Visit megaphone.fm/adchoices