hello and welcome to inside politics. i m john king in washington. thank you for sharing your very busy news day with us. call it a biden racy can you. the federal government swoops in to pay back depositors after a bank goes under. he promises 2023 will not look like 2008. the bottom line is this. americans can rest assured our banking system is safe, our deposits are safe. plus mike pence says president trump was reckless on january 6th. a big question now, whether pence repeats it when he s with gop voters in iowa, new hampshire and beyond. and president biden green lights a giant oil project in alaska. progressives are mad again. the drilling project suggests an early move to the middle with an eye on 2024. up first for us, though, a pair of bank failures and a white house emergency plan the president says will protect the economy but not at your expense. president biden speaking this morning before u.s. financial markets opened for trading and before most banks o
insurance for deposits saving grace for deposit fors as of much as $220 billiony uninsured. move to prevent a run on additional banks makes it so the tech company as it banked with svb can make payroll. at least 29y impacted pinterest, zip recruiter just to name a few. separately the same has been done for new york signature bank which was shut down over the weekend. treasury secretary janet yellen says the action does not equal bailing out the banks. during the financial crisis there were investors and owners of stem large banks that were bailed out and we re certainly not looking and the reforms that have been put in place means that we re not going to do that again. but, we are concerned about the depositors and are focused on trying to meet their needs. so, unlike the great financial drivers stock and bond investors will not be protected by the move. and taxpayer money will not be injected. percy square agrees this was not a bailout. he wrote this on twitter, quote
next question at white house correspondent peter doocy is traveling with the president. good evening, peter. good evening, president biden helping to prevent a run on the banks by signaling to consumers that wealthy banking negatives are out of luck but every day folks with money in bank accounts can be guaranteed their money is safe. they are very careful to avoid using the b-word, bailout. see you in california. the plan to talk about training sailors to work out of a new joint nuclear sub base in australia to counter threats in the indo-pacific. these subs indo-pacific. the subs are powered, not nuclear armed subs, nuclear power, not nuclear armed. the president s trip not the biggest story, that s the collapse of the silicon valley bank. your deposits will be there when you need them. they will come to the deposit insurance fund. no losses will be borne by the taxpayers. job losses are coming for those president believes that took advantage of regulati
on the southern border. welcome. glad to have you. i m neil cavuto. let s get the latest on what might expect to hear out of these leaders in a few minutes. we go to jacqui heinrich with more. jacqui? hi, neil. the president just sort of gave us a teasener his address to parliament about the details on this agreement that we re expected to hear more about when the two leaders speak shortly here. we re behind schedule. it s going to be a big topic of conversation. canada is announcing 15,000 slots for migrants from the southern hemisphere to come in to canada legally as part of a new agreement that will allow the u.s. and canada to turn away migrants that cross the northern border illegally as an update to this third safe third country agreement that has been really years in the making. for the longest time, migrants enter on the southern border have been required to first seek asylum in the country that they pass through. that did not apply ever to the northern border. it s
will be running the show tonight. and that is a 1994 1994 i s president of my university college of republicans and it was more than a dream as the son of a reagan revolution that dick armey would soon be the majority leader, that phil gramm economic expertisee along with mr. armey alleys for narrow window in american history would be ascendant in this town. and while we have to be careful as a storage that to dwell in the past, we can as we are on the brink of a red wave and a mean that philosophically, not as a partisan, this year, know that that isn t merely about party registration, about 140 be in charge instead of another. it is about the ideas that defined as as a people, namely freedom, flourishing. and this town and this government is spending a hell of a lot money that it does. and soat it is a great, great privilege to have dick armey, senator phil gramm, one of my political mentors who a couple years later he was thinking about running for different office. he was