leaves more questions than answers. did the government step in at just the right time or over step with what critics say is another bank bailout? it s not free. it comes with costs. plus, are more banks in danger of collapse? there s just panic. concerns spread to bigger institutions. can you squeeze under the pressure? as bank stocks take a rollercoaster ride. and regulators faced with a dilemma. were they asking the right questions? were they keeping an eye out for this? fight high inflation with rising interest rates. or back off to calm down the troubled banking industry. you can now be rescuing banks and hiking interest rates. bank bust. what s next for america s money? on cnn primetime. good evening, everyone. i m poppy harlow. just one week ago, america s 16th largest bank was up and running, everything seemed fine. tonight, it is collapsed and in government hands. and fears over the broader banking industry are now global. the swiss banking giant a
miles away. that s where the web space telescope attention of astronomers and space fans everywhere. according to nasa, the star, w r 1 to 4, among the biggest and most radiant stars known, is about to die. before going supernova. supernova s, as you may know, are the hottest, brightest objects in the night sky. the stars surrounded by cooler, glowing halo of gas and dust, a lot of it equivalent to the mass of ten of our sons. the mass comes from the starts off, which now is a mere shadow of its former self. and now only ways the same as about 30 sons. my mind is blown. the news continues. we want to head over to what s next for america s money. poppy? tonight, a banking crisis leaves more questions than answers. we had a old-fashioned bank run. did the government step in at just the right time? the banking system is safe. or overstep with what critics say just another bank bailout? plus, are more banks in danger of collapse? concern spreads to bigger in
unrest if former president donald trump is indicted. according to an internal memo shared with cnn, all nypd officers are expected to be in uniform and ready to deploy. these are images you re seeing now out of new york today. so far small gatherings of pro-trump and anti-trump demonstrators. and then in florida protesters are outside of trump s home in mar-a-lago. the district attorney in manhattan has given no timeline on when trump could be charged for his alleged role in hush money payments to adult film star stormy daniels. the former president has claimed that he could be arrested today and has called on his supporters to protest. cnn s kara scannell is following all of this. kara, what more do we know about these preparations for what s really an unprecedented moment in u.s. history? a former president criminally charged. reporter: yeah, brianna, it is an unprecedented time. right now we ve just we re seeing a small build-up of police presence but it s really very
to be stabilizing? can we sort of take that and be comforted by it? well, i think secretary yellen among others had been hoping that they would not need to keep saying over and over again that things are safe, your deposits are secure, please don t worry. they had been hoping that when there were these extraordinary interventions over a week ago to rescue the depositors for silicon valley bank and signature bank that would be sufficient. then they were hoping that this infusion from the bigger banks into cash infusion from the bigger banks into first republic would itself be sufficient. and obviously there are still some market jitters out there. i think the real question that people have that is continuing to fuel the anxiety is what happens to my deposit if it is above the level of the fdic insurance cap, $250,000. so for most people that would not apply to them. but for some people it does. for legal reasons among others
finance nerd version of that? they wanted to make money. so they shifted, more and more cash into long-term fixed-rate bonds. this isn t 2008. that is the very definition of vanilla banking. at least until that low interest rate environment gets blown apart by the federal reserve desperately trying to tame four decade high inflation. svp was sitting on significant losses, like lots of banks. what made this bank different? tech and startup founders and companies pulling deposits to survive. if you re svb, you have a problem. a mismatch between all that customer coinage and all your other assets. while they weren t fully aware of it yet, the government also had a problem. these deposits supported 10s of thousands of jobs, payrolls, and almost all of it above the fdic insurance cap. on march 8th, the bank announced it was selling off holdings at a loss and selling