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
hello, i m briana keilar in washington. right now wall street and main street are wondering if more dominoes will fall or if the biden administration s drastic action following the second largest bank failure in u.s. history will stave off a broader financial crisis. this morning president biden assured americans that their money is safe after the federal government takeover of silicon valley bank and the smaller signature bank. svb may be a new name for many people, but it was a go-to bang for the tech sector. high-pro-final companies like roku, etsy, and fitbit were clients. some had hundreds of millions of dollars tied up with svb. all those deposits are guaranteeduncle sam. all customers who had deposits in these banks can reassured they ll be protected, and they ll have access to their money as of today. no losses will be born by the taxpayers. instead, the money will come from the fees that banks pay into the deposit insurance fund. the management of these banks will
for his dirty deeds. a new letter tells us the house oversight committee chairmen sqescalating the probe into the family. there are record dating back to 2009 relating to two of hunter biden s business associates. and, quote, just terrible, cruel. president biden using very harsh terms in a new interview to describe florida lawmakers who want to cut back on gender-affirming care for youth. what s going on in florida is, as my mother would say, close to sinful. it s not like a kid wakes up and says, you know, i decided i want to become a man or i want to become a woman or a want change what are they thinking about here? they re human beings. we ll see you tomorrow. briana keilar picks up our coverage right now.