by dousing it with high interest rates and now they re like the triage doctor trying to stabilize the patients, which are the banks. ashley: alexandria hoff is live in washington, good morning. alex alexandria: it would have led to another rate hike, that fight against inflation may have to be placed on hold. it was an attempt by silicon valley bank that led to selling off of securities. by thursday, stock began to nose dive and by friday regulators shut it down. sunday signature bank suffered the same fate and emergency measures were enacted. president biden tried to provide reassurance yesterday. president biden: americans can have confidence that the banking system is safe, deposits will be there. small businesses across the country is breathe easier knowing they will be able to pay their workers and bills and hard working employees can breathe easy. no loss and this is important points, no losses born by the taxpayers. biden administration says since investors were
livelihood, the ecosystem of the economy. that is his response to silicon valley response, you can say it is a weak response, i don t think it has much to do with gavin newsom, i think it is a federal issue. fdic shouldn t be on gavin newsom s plate. now go to reparations. remember california never participated in slavery, but they want to pay reparations to descendants of african american individuals living in the state of california. there is total cost of the program $640 billion and number of black californians who receive the payout, 1.8 million people. california has revenue problem, facing massive deficit in the state. can california afford this 22.5 billion budget defit is the barrel of the gun california is