long lines could be seen outside first republic bank this weekend. the bank trying to assure customers in a statement saying we want to reenforce the safety and stability of first republic adding our capital remains strong the news comes shortly after janet yellen indicated there would be no government bailout following the collapse of 2008 the reforms put in place means we re not going to do that again. reporter: silicon valley bank serves more than half of the once-booming tech scene. small business owners have their money tied up, too. this is everything we have saved. reporter: amanda babcock says relief can t come soon enough you re not a giant tech startup you aren t investing millions this is your live lie holively hood it is reporter: bank employees received
policies that put them in these vulnerable positions. and we also heard from the ranking member on the south carolina tim scott who really urged against any sort of culture of government intervention. what is clear for everyone, one thing they seem to agree on there is no major apitate for a government bailout. and the president very clear that the taxpayers will not be bearing the burden of this if not is not a bailout that is like 2008. jessica dean up on capitol hill, thank you. so small business owners who use silicon valley bank they re relieved regulators are stepping in because they re getting their money back. this is including the cofounder of shelf engine, a startup in seattle. he said the $250,000 normally guaranteed by the federal government that is fdic insured would not have been enough to keep his company going. so $250,000 would have been
to reassure customers. there is no sign of panic in the uk banking circles, but the bigger issue yes bank failure since 2000 and it has certainly got investors attention. joining us now is dr betsy stevenson, professor of economics at the university of michigan who was at the white house council of economic advisors. welcome to the programme. president biden is in the us banking system is safe, but can consumers truly have confidence? the safe, but can consumers truly have confidence? safe, but can consumers truly have confidence? the absolutely current, because we confidence? the absolutely current, because we have confidence? the absolutely current, because we have had confidence? the absolutely current, because we have had the confidence? the absolutely current, because we have had the president| because we have had the president come out, the treasury and the fed work together to say we are going to make sure that depositors get their money back. i think we can count on t
cnn s state of the union right now with caitlin collins. fallout. a key bank fails prompting some calls for a government bailout with washington split over a plan for the overall u.s. economy. i don t know what there s much to negotiate on. where is it heading? former economic adviser under president trump gary cohn joins me and republican congresswoman nancy mace coming up and reckless, in his sharpest rebuke yet, former vice president mike pence says history will hold his former boss accountable for january 6th. will other potential trump challengers agree? plus, a new voice, a multimillionaire is running for gop. we are hungry to be a bigger part of ourselves.