additional funding available t help banks meet the needs of their depositors this comes just days after the collapse of silicon valley bank nbc news producer garrett grew back joins me now. gary, what more. do we know we do have the statemen straight from we will read a portion of it t you now. after a recommendation from th board, the fdic in the federal reserve, and consulting with the president, secretary yelle improved actions enabling th fdic to complete its resolutio of silicon valley bank tha mirror that fully protects the depositors what does this mean? basically, the depositors will have access to all of thei money starting tomorrow. and no losses associated wit the resolution of silico valley bank are going to b borne by the taxpayer. that is zero dollars there senior management of f s vp ar going to be completely removed from the company, according to treasury and they say that it i decisive action that wil protect the u.s. economy b strengthening public confid
mirror that fully protects the depositors what does this mean? basically, the depositors will have access to all of thei money starting tomorrow. and no losses associated wit the resolution of silico valley bank are going to b borne by the taxpayer. that is zero dollars there senior management of f s vp ar going to be completely removed from the company, according to treasury and they say that it i decisive action that wil protect the u.s. economy b strengthening public confidenc in the banking system. now, one big thing, th statement did not say wa anything about the sale of the bank if you talk to any members o congress, like our team on capitol hill, yesterday an today, the biggest thing the want is a sale of the bank and on the congressional side, the california delegation of republicans and democrat wrapped a briefing call this afternoon. they were briefed ahead of thi public statement they want both the engineering of a sale of the bank, and t raise the fdic limit right
rights through comprehensive immigration reform, a star putting white so we can get ri of these gerrymandered districts and have rea representation in democracy, expand and reform the suprem court so that trump appointe extremists stop taking our rights away, and we star building our rights back t where they were decades ago. thank you for connecting al those dots with us congressman. we appreciate your time. we want to bring in stephani ruhle on the phone stephanie ruhle, her brillianc was overshadowed by a tech snafu. tell me something everything you are trying to tell me before, but this time, i can actually hear you. so i looked so bad on televisio because i ve been looking on rogue reporting on this stor all week when - home studio, pulled the plug and said, please, god, just to have phone in. - we know that the senators ar meeting special briefing what do you want to know okay, this is the question would ask. what is gonna happen to th executive this did not need
congressman. we appreciate your time. we want to bring in stephani ruhle on the phone stephanie ruhle, her brillianc was overshadowed by a tech snafu. tell me something everything you are trying to tell me before, but this time, i can actually hear you. so i looked so bad on televisio because i ve been looking on rogue reporting on this stor all week when - home studio, pulled the plug and said, please, god, just to have phone in. - we know that the senators ar meeting special briefing what do you want to know okay, this is the question would ask. what is gonna happen to th executive this did not need to happen. okay this bank had an enormou amount of deposits right? during covid all that influx into tech, start-up - this is the preeminent bank in the tech space and the start-u world. he had so many deposits, the said, what are we gonna do wit it they made a bad decision o