i ve seen more devastation than i ve seen in my lifetime. i m on the ground in the middle of it, it looked like a war zone. i never felt so good about the cooperation of the federal, state and local government. ashley: alexandria hoff live from washington with the latest, good morning. alexandria: good morning. the people of mississippi are not the type to wait on help, people came from across the state to lend trucks, equipment and medical expertise. where assistance will be is temporary housing and loans for unsured properties. alejandro mayorkas took a tour of the small delta community where residents say every marker of existence is gone. flower shop, beauty shop, barber, law offices just down the street are all gone. there was an auto parts store, local restaurant that has been there for i don t know how many years, since i was a child. service stations, tire shop, just gone. alexandria: 26 lost their lives in mississippi and alabama, one death was reported.
is ashley: back with a fox business alert. silicon valley bank has a buyer, first citizen bank making deal to acquire svb for 72 billion three weeks after its collapse. todd: cheryl casone has more. cheryl: 72 billion and here is what this is, deposit loans at all branches of silicon valley bank. 119 billion in deposits, customer accounts, we talk about that, that matters, the deposits, as well. 119 billion and 72 billion of loans. what is troubling about this banking crisis globally, if we were thinking we might be going into recession, pretty sure this will take us into recession in this country and globally, as well. at this point, silicon valley bank is no longer with us.
comes to bank bail-outs. listen here. our intervention was necessary to protect the broader u.s. banking system. and similar actions could be warranted if smaller institutions suffer deposit loans that pose the risk of contagion. john: former obama economist suggested on america reports last week they ve set a precedent with svb. they will have to make depositers whole above and beyond the fdic insured levels as well. where will we get the money to do this? we won t have it. and what you see going on now is an exercise in the federal banking regulators and particularly the fed covering its rear end. they were responsible for this. i will come back sometime and explain why. they are covering their rear