the goal overall will be to instill confidence in the american banking system. federal regulator said depositors will have access to their money today. the measures have effectively waived $250,000 insurance and of $220 billion in assets uninsured. at least 29 companies were impacted by svp collapse like pinterest, fitbit, ziprecruiter to name a few. the same has been done for new york signature bank, which was shut down over the weekend pure treasure secretary janet yellen said the action does not equal bailing out the banks. we are in the middle of a financial crisis. if you were investors and owners of systemic, large banks that were built out and we are certainly not looking to reform put in place and that means we will not do that again. but we are concerned about depositories ever focused on trying to meet their needs. ceo of pershing square eckman agrees this was not a bailout in terms of how the term has been used as of recently mainly because taxpayer funds will
means we will not do that again. but we are concerned about depositories ever focused on trying to meet their needs. ceo of pershing square eckman agrees this was not a bailout in terms of how the term has been used as of recently mainly because taxpayer funds will not be injected. he did at this in a tweet, laura payne s will fail. but now we have a road map how the government will manage them. it is a massive wake-up call. the financial crisis stock and bond investors will not be protected by this emergency move. the news announced that silicon valley bank british arm has been purchased by hbc, 1 pound and u.s. regulators still looking for buyer for silicon valley bank. brian: quite a crazy day, alex, thank you so much. ainsley: it s bring in the president of the start up company flow health impacted by the collapse of silicon valley