struggles that americans are facing. as the president faces accusations of bailing out wealthy democratic tech donors. the consumer price index is out for the month of february, rising .4% from january, up 6% over last year. food costs are up nearly 10% as a whole, and i don t have to tell you that basic staples like eggs jumped 55%. while gas is down ever so slightly, other energy costs are sky high. and the biggest bank failure since the 2008 disaster is adding to the country s economic concerns. it is also fueling a partisan blame game. republicans blast president biden s response to the silicon valley bank collapse, accusing him of giving special treatment to some of his party s biggest donors. while the white house is busy pointing fingers at the last administration. typical. thanks to quick action of my administration the past few days, americans can have confidence that the bank system is safe. during the obama biden administration, we had tough on banks, including t
fox news can confirm independently that the justice department is probing svb collapse. early stages. and as expected, this was first reported by the wall street journal. this is coming in spurts from david, but i wanted to get those lines to you. perfect segue to my question, kayleigh. the shareholders sued the officers of the bank. they argue in the lawsuit that per harris breaking news, that there was active concealment, that they concealed the way interest rate plays into their fiduciary duty, as gerri described, what the government jumped in to protect doesn t include the shareholders at that level, right, because they assumed risk on their own. perhaps now they ll face civil liability and potential criminal repercussions. but that still doesn t effect average americans watching this and that are concerned for their welfare. that s right. everyone is pointing fingers. where i want to point the
the justice department is investigating any involvement, the department s fraud prosecutors in washington and san francisco can uncover as well. the svb financial chief executive greg becker didn t return a phone message seeking comment. i don t think we are shocked about that, but you can bet they re going to be really, really pushing. they re going after the california lender, taken over by regulators last week amid historic run on deposits, and it is all the same which you were saying, jake, in terms of what they were doing with the money. not months ago necessarily but days and moments before the bank failed. what about bonuses paid running out the door the last few weeks. just to make another point, the effect of what the biden administration did, all banks will now take more risk because guess what, you know you re backed up. that s what the moral of the story is. i find it ironic the sec is investigating them
past few days, americans can have confidence that the bank system is safe. during the obama biden administration, we had tough on banks, including the dodd-frank law to make sure the crisis we saw in 2008 would not happen again. unfortunately the last administration rolled back some of these requirements. so jerry, in prime democratic form, the answer according to biden is more government, more regulations, more government. more money. more of our money. that s what s disturbing here. i think the thing people are latching onto, right, here s what happened over the weekend, what i think. today people are saying the dow up 400 points, it is all lower, nothing to see, everything will be okay. nothing could be further from the truth and let me tell you why. essentially what the president did and treasury, they said guess what, that $250,000 guarantee that the fdic gives individuals if there s a problem with their bank, all of us have
you were saying about that pool of people that bank there, the richest of the rich, bailing them out far above the fdic insured amount of 250,000, all that we can have. a lot of donors are democrat at that bank, maybe not so much donors as palstein, ohio. just an observation. those rules won t apply to regular americans. you will not get those benefits. that s what s so upsetting. i think this technically is a bailout. you have to call it a bailout. so two investigations. the justice department, securities and exchanges commission both investigating the collapse of silicon valley bank. i want to get to this one part. i have been reading into it a bit here. the investigations are examining stock sales that silicon valley bank financial officers made, which is what you were talking about, jake, just days before the bank failed.