of control the washington post is reporting that officials are safeguarding all uninsured deposits at ? valley bank this is a response of the government can t find a buyer for the failed bank and the treasury department has briefed lawmakers about the latest on the situation. they were the go to lender protect startups until the sudden collapse on friday. and what are we hearing from the bided administration about what s being done and what s being ruled out? the bided administration has been working trying to find a solution in the wake of a collapse a bank the treasury secretary said she has been speaking with regulators throughout the weekend and depositors and president biden spoke last night with the california governor gavin newsom about steps to address the situation. one big question is regarding the deposits at the bank for the time being the fcic insures deposits up to $250,000 leaving them to question what happens to those who have larger than that amount and t
of the collapse of silicon valley bank. treasury secretary janet yellin said she has been speaking with financial regulators the treasury department is also been hearing from depositors themselves bid for president biden gavin newsom about efforts regarding this california-based bank. but earlier today, one thing janet yellin did completely rule out is there be any large-scale bailout for this bank and the weight that was seen back in the 2008 financial crisis. let me be clear that during the financial crisis, there were investors and owners of systemic large banks that were bailed out. we are certainly not looking. the reforms that have been put in place means that we are not going to do that again. but we are concerned about depositors and are focused on trying to meet their needs. the fate of those depositors on the money that has been held at this bank is really one of the looming questions regarding this whole situation. the fdic only ensures up to $250,000, leaving
hello, bill. reporter: hey, mike. good afternoon to you. yeah, the latest information we re hearing is at least eight people dead after two of these suspected human smuggling boats capsized off the coast of san diego. and this just highlights the fact that we ve got more death at our southern border now. any way you slice slice it whether it s people crowning in the river, dying of dehydration out in the desert, boats sinking in the florida keys or off the california coast, it goes to show you the risk a lot of these migrants take as they try to get here to the united states. fiscal year 2022, more than 800 my granter deaths migrant deaths at our southern border, the all-time record. and it goes to show these human smugglers don t care if people get their alive or kid. they get paid either way. we saw that firsthand in san antonio last summer when that horrific incident happened with the trailer of 53 migrants dead, baked to death in the heat, essentially, outside the cit
rain. what the officials are to acting is that they have to prepare. we are starting to see some of these road closures. this entire roadway is a commercial area where residents live in condominiums and apartments. this is a well-known flood zone, so the roads have been closed. and the reason why this particular area is of concern is that we are right near the san diego river. what they are trying to do is, to lay these preparations in place here in the city of san diego where they do expect to see some rainfall. the heaviest, though, is expected to go east. it is this sort of waterway that they are most concerned about as far as ace city here. city parks have been closed. there have been beaches here throughout the area that have been shut down. and what the navy has also done is, in preparation for hilary s arrival for this tropical s dorm is 10,000 personnel aboard
this was a magnitude 5.1 quake. we are hearing from folks in los angeles from one person who said their apartment did shake just a bit during this earthquake. so we will stay on top of that. let s stay on the situation with tropical storm hillary. just a few hours ago south in san diego. cnn picking up on some of the effects of tropical storm hillary, how are things looking there? reporter: we are certainly seeing, jim, the heaviest rain that we have seen throughout the day. the city officials here, the people who are watching the weather, the mayor s office says that this is the thick of it. these are the next few hours where we are going to see the most amount of rain here in the city of san diego. i am standing in mission valley. this is an area that typically sees flooding. that is not a surprise to people who live here or the city officials. so, what the city has done in