company. hallie received 35 million, this is the business deal, what is the business? that is no business. biggest banks of america jump in to rescue first republic bank. our banking system is sound. head of the treasury caused the problem. no good. going to keep dancing. they upset the number two seed. this is all part of the madness. that is the pride of new jersey, the guard pipes and drums performing. they re not in new jersey, they are live in savannah, georgia, home of one of the biggest st. patrick s day parades in the whole wide world. we associate today with green beer and pubs and stuff like that. i didn t realize until i was looking at research, it wasn t until the 1970s, st. patrick s started adding booze. it was a religious holiday, but in the 1970s, that changed. brian: you could do both, worship and go to the bars. ainsley: i grew up in episcopal church. steve: you can eat corn beef and cabbage. brian: without going to hell. stev
threatening to kill police officers in yonkers, new york, during tomorrow s parade. the stock market sliding just 24 hours after a group of banks unveiled a $30 billion rescue plan for first republic bank. the new report claiming first republic executives sold $12 million in stock months before the crash. the severe storm system, and where it s headed tonight. at least two tornadoes, including a confirmed ef-1 damaging homes and businesses in texas. winds up to 110 miles per hour. an arctic blast now on the way. below zero wind chills tomorrow morning. our weather team tracking it all. new concerns tonight about tiktok. sources telling abc news the justice department is launching an investigation into the owners of the popular social media app over allegations of spying. a new report on the possible origins of covid-19. an international team of scientists reportedly finding genetic links tying it to another animal in wuhan, china. here in new york, the good samaritan
thanks so much forjoining us. this is a swift reaction isn t it to avoid what happened at silicon valley bank?- silicon valley bank? yes, exactly- silicon valley bank? yes, exactly- if silicon valley bank? yes, exactly. if we silicon valley bank? yes, exactly. if we see - silicon valley bank? yes, exactly. if we see first. exactly. if we see first republic bank go to the wall which seems pretty much 100% likely at this point, this will be the fourth bank in the us to fail so the federal deposit in co corporation want to stop any momentum here and really distort the fears there are in the us that we are seeing a regional bank collapse. if we look at a broad index they are down 25 30% so there are a lot of investors out there quite worried and the authorities are keen to draw a line under all of this. ~ ., ., ,, ~ of this. who do you think looks like they could of this. who do you think looks like they could step of this. who do you think looks like they could step into - like
yellen coordinated that massive 11 major bank rescue of republic bank the first time, $30 million in that case. so now the white house says that they will not be stepping in at the last moment, that there s no real plan. the fact is back then they were trying to stabilize the banking market. at this moment they don t see the risk of contagion if first republic bank were to fail or falter and needed to be saved by another bank. instead sources say the officials viewed that the banking system right now is healthy. interestingly, though, this position from the white house came out the same day when the highly anticipated federal reserve postmortem review we just heard rahel talking about came out where in part it fa faulted federal reserve regulators for not doing enough. in light of that the white house says they re continuously monitoring the situation but as of right now, no coordinated
the government says there will be no such rescue for first republic. the bank s stocks started plummeting 75% the first week. it fanned wall street s fears of a banking crisis. cnn s white house reporter jasmine wright joining us now. what else are you hearing from the white house? reporter: look, amara. the white house was clear. there will be no coordinated effort by the white house or anyone to come in and rescue first republic bank as the stocks continue to crumble. what we re seeing instead is the agency in charge of supervising bachgs stepping in to hold discussions to get a potential sale of a healthy bank for first republic or another solution. you re right, though. it is a far cry from the efforts we saw in march with federal regulators stepping in to save depositors when silicon valley bank failed or when senior fishlts led by secretary janet