protest this stuff. we also have a select committee on the weaponization of government. this applies directly to them. i think you ll see actions from them. robert costello is set to appear before the manhattan grand jury. i think he has inside knowledge, and we should be paying attention. the city of miami beach is now imposing a spring break curfew after a second deadly shooting. there are a lot of policemen, way more security guards. they need to shut it off, take the party off the streets. ubs takeover of credit suisse has laid the foundation for greater stability . we have more of a crisis with the second and third tier banks. this whole tranche of banks has been under regulated for five years now, and people are very concerned about when you lift the hood, what s under the hood. arkansas pulls off the upset, down goes kansas. no repeat chance this year. put in a lot of work. good morning, everyone. and thank you for joining us on this monday mornin
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
the federal reserve, net large to warn people? or is it just private communication between those entities and the banks saying you ve got real issues here, you need to address them. from your reporting, my take away was and this is a quote, the bank did not fix its vulnerabilities. did anyone know, any customers, any deposit fors know that? this is going to be a huge area for inquiry going forward. these issues are kept private, supervisory matters are kept under lock and key. there are a lot of questions about why weren t these issues escalated? was it a failure at the san francisco fed, the federal reserve s board in washington, and, you know, is there any kind of recourse n a win a world whe this is something that could fly under the radar. i think we re going to see a lot of pressure coming from congress. we re already seeing some of
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