regulation, are we currently out of the woods or not? the weekend headlines indicate we may not be. my personal take on it is it may take a couple of months to work its way through the system. i think we re going to be moving in the right direction i did agree with what the fed did and the treasury did over the weekend to stop the bleeding, so to speak, on the immediate aftermath, but longer term, i think a lot of our regional banks and the smaller banks in particular are going to want some reassurances that they ll be able to compete with the big ones, the big fivecompe the big ones, the big five. so i think it will take a couple of months for so i think it will take a couple of months for consumers outside to recognize that all of these banks are stable should we is it okay to let a bank fail? you know, let s think about this for just a second this for just a second. when we talk about allowing a bank to fail, it s one thing to say it s okay to allow the owners of the bank to
the fed is also going to be meeting this week, and they re going to be considering another rate hike. washington is divided, though, about what right now can be done to stem this crisis. i m going to ask congress and the banking regulators to strengthen the rules for banks to make it less likely this kind of bank failure would happen again. it seems as though the regulators didn t do their job joining me now is democraticr senator elizabeth warren of massachusetts. she s a member of the senate banking community and has, frankly, been warning about something like this happening after the 2008 decision on mid-sized banks. senator warren, welcome back to meet the press. thank you good to be here. let me just start with a big-picture question last week you seemed to believe we were out of the woods do you still feel this way this weekend? i saw disturbing news about credit suisse that will essentially be ended we have mid-sized banks that can t find buyers. is the contagion cont
balance sheets are not solid fortunately, right now their balance sheets are very solid and they re in a secure place, but these multibillion-dollar banks, i think the thing that downright offends me is that gary becker and these other ceos were coming to washington telling donald trump, telling the republicans, and telling the congress they pose no risk they should be treated just like the small community banks that know their communities and don t take on much risk. but look these are guys who figured out they could make a lot of money by loading up on risk. look at just the piece on inflation. yeah. they made the bet that inflation would stay at historic lows forever now, why not because they re not smart. they made that bet because it cost money to hedge that bet, and that would have bitten into profits, and that would have bitten into the bonuses they
of everything, that rarest o lessons, to accept and move on i know it happened, i kno it s influencing, we - but there is one thing that finds him. his mother s character and that follows him everywhere others ethereal, she holds very special place just everything you think that s good, everything yo think of his kind, everythin that is just great about the people, that s what sh embodied,i carry that with me. this sunday, risk management after the collapse of two u.s. banks, washington moves in to stop a widening panic.
necessarily be allowed to lose their deposits and that s why we begin with a quarter of a million dollars of protection and we their can got deposits, and that s why we begin with a quarter of a million dollars of protection, and we started with $200,000 a few years ago and we bumped it to $250,000 for deposits and then the question is whether or not things are appropriate as things rise. should we bump that up the other piece is whether or not within the commercial marketplace and among the banks themselves can they arrange for things such as interest rates and so forth can they use those to actually protect themselves a little bit better, kind of like buying re insurance on those accounts? among them there are some tools out there. the real question is whether or not all of the banks are taking advantage of the tool available to them right now. are you at all concerned by protecting the deposits? we re sending the message to the real high stakes equity folks by saying, you know wha