no bidders appear, the government said they are ready to step in and take it over. the morning i m david asman infra neil cavuto. this is cavuto live . we start with lucas tomlinson at the white house with some numbers as the president launches his reelection campaign. not a great mom as far as the numbers go. that s right, president biden low approval rating one of the reasons one and three democrats support somebody else for president in 2024, many republicans want this race focus on the economy. i don t want everyone every day and make it like my family to suffer as a result of poor policy. that s exactly what we see not a divided administration. they re not designed to help people, the economic policies of this administration are designed to track people. let s throw the pole number back on the screen eight in ten americans believe the economy is only fair or poor a number that hasn t changed much over the past five months. inflation is the problem we don t have to
last panelist said biden is better for democracy. better for democracy is a democracy negotiating with divided power. david: that s a whole another kettle of fish. you mentioned the banks and first republic is essentially done that is going under receivership and fdic s going to be paying for. why is it tanking? and is it going to spread? the reason some of these banks like first republic and silicon valley bank have failed or are failing because of the spike in interest rates. they are holding onto bonds that had to retreat% interest rates but now the interest rate is 5%. the value of the bond holdings, the assets that the banks are holding and by the way i m not to sound like i m panicking but i do think you will see other banks in similar trouble if the fed has to continue to raise rates to bring inflation down. david: the mistake that they made bedding despite all the spending that we were talking about from biden that we could continue to spend and.
witness to history throughout the world? the rest of the world has started to wonder if this is business as usual or the normal for the united states. the number of officials who i talked to, whether they are foreign world leaders or american ambassadors abroad. they are very concerned about the perception of america abroad. in other words, a government that can come to a shutdown. people were stunned by it. on the other hand, you didn t see it tanking in the market because people are used to it and thinking by the very end andless minute, something will happen to right the ship. is this as bad as it seems from the inside or is this loud political sharp elbows? i think there are sharper elbows than there used to be. the political debate has always been us. i think one of the problems here has been that with the rise of the tea party, and let s remember, it used to be
coming up, it was one of the deadliest days in the war in afghanistan. command are ty carter risked his own life time and again to save his fellow soldiers. tonight watch an unlikely hero tomorrow night, 10:00 eastern only on cnn. coming up, the economy has come a long way since 2008. so why is president obama still worried about it tanking again? plus, the 1972 dolphins wanted to take a victory lap in washington, too, except president nixon was not so accommodating.
the agony of everybody in america. facebook, why is it tanking? the underwriters made a mistake and priced it too high. this was one of the largest in history. very complicated. nobody knew what the demand was. retail investors want a piece of it. at the end of the day, i think it s clear they pushed too hard for too high of a price. 38 bucks. yeah. or something like that. maybe lower. what you want is, since they weren t selling that much stock, price it low. trade up. make money and trade like google in 2004. instead, they push for the last dollar. the way it works, they try to support the stock. last week, it did trade at the offering price. the underwriters were buying the stock. then, over the weekend, they say we can t hold back the sea so let s let it find its own level. that s where the level is.