the trump era banking law that loosened the rules, plus how the collapse is turning into another culture war. then, michael cohen testifie in front of a grand jury settling his - refusing to do what it could mean for prosecutors. running mates, turned politica rivals donald trump and mike pence go head to head over january 6th. the wind up to 2024 as the 11t hour gets underway, on thi monday night here we go good evening, once again, i stephanie ruhle. normally i start this progra giving you an overview of th most important stories of th day. but tonight, there s only on story. it is all about banking, money government, and politics it is exactly what we cove here every night joining me to dig into all o it, my nbc colleagues, jak ward, shannon petty. former wall street banke turned journalist, my friend bill cohen,. before we get into it, let s remind our audience of how w got there. silicon valley bank i, the preeminent bank in the valle for tech it s where all the start o
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ask you more about the lawsuit but i m just curious about the people of east palestine i was on the phone with erin brockovich a couple of days ago, and she has incredible stories just story after story after story of people who live i this community, who have poisoned wells people who are having symptoms people who don t know what t do at this point with the fact that they live in this place that feels condemned that feels like it ll never ge back on its feet is there anything that you can say to the people of eas palestine and the surroundin community? obviously, the emergenc response is ongoing. we have a short term issue o having to clean up the community. the polluted water and soil. but beyond that, this lawsui is the state of ohio saying, w are not going to forget you.
it seems to be important t call the question here, on ban regulation you want to talk about all this, make all these people, james conner, all your, colleagues make them vote one way or th other about regulating the small and mid sized banks. absolutely. let s go back to making sure they have liquidity tests. let s go back to making sure they re paying the premium t cover the fdic here s what i don t understand here s the actual argument the republicans could ve made, t be fair. with silicon valley had this crisis, the government respond within three days to protect the depositors i supported what the governo did. why don t we see that in jackson, mississippi why don t we see that in eas palestine. why don t we see that in small communities have the same kind of government action and that we could have a debat about it but instead, this nonsense and it s not convincing anyone it s also wild. because it feels, i was lookin through it for research, s partly i was biased on my part i
have been really helpful i both scenarios yeah, i mean, it interesting to hear tara and bill described the stakes here the way it s being divided up. i will say, i have of course talked to people who wer inside this bank, who mayb don t deserve our sympathy who were so well capitalized it didn t really matter. it maybe is that is true for a handful of these folks but you know, there s also a ton of little companies. i talked to a seven person company that literally turns accompanies data int spreadsheets these are people who did not take advantage of the lines of credit that silicon valley ban was offering, it did not tak advantage of the mortgages tha it gives to founders it didn t do any of that stuff it just used it for payroll. i think that people in eas palestine and the people i silicon valley really migh have some common cause here, i thinking just about, how is it that i can put what i think is a very stable conservative business and it s banking, int