Transcripts for MSNBC Chris Jansing Reports 20240604 17:24:30 archive.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from archive.org Daily Mail and Mail on Sunday newspapers.
efforts to ease bank fears and avert a new financial crisis i want to bring in nbc news and business data reporter brian cheung i actually heard this conversation walking into work between two these having coffee on the street wondering if their money was safe. i was having breakfast in burlington, vermont, yesterday and the same table next to me having the same conversation there s a lot of fear out there. three banks failed over the last week, two large ones over the weekend. the three banks that failed are not the banks that you and i hold our savings accounts in so these are banks that primarily do business banking. so their depositors are tech firms, think silicon valley bank, and crypto firms, was was the case with silvergate last week and signature just yesterday. when you re thinking about pulling your savings deposits or doing any changes there, also remember there s no change to the fdic s insurance up to
obamanomics and policies we ve pursued extended that not reversed it. brenda: and let me give gary k the last word here, up against all of you guys. talking about recession is about statistics. i ve got news for you, housing never got out of the recession, employment never got out of the receipt session, those are the two most important areas and now the market is speaking loud and clear and we are in it right now and i suspect the statistics are going to be showing some negative numbers going forward, unfortunately. brenda: okay. and we ve got more debate to come. contagion, spreading over there and now coming here? and neil s gang on bank fears on the rise. and now, it appears, job cuts are, too. but first, didn t all of this lead to this? well, then why is the president pushing for a new round of stimulus? time to buckle up again. [ male announcer ] to the 5:00 a.m. scholar.