this week s actions demonstrate our resolute commitment to insure that our financial system remains strong and that depositors savings remain safe. paul: let s bring in jason trender, chairman and ceo of an investment strategy firm. jason, quite a week in financial markets. you know, the treasury secretary says all is well, safe and sound, but the markets aren t acting like it. just how big a question a problem is this in the banking system? well, paul, we don t know yet, but i think that, you know, history has taught us that, generally speaking, when there are problems like this in the banking system, they re not they generally don t tend to be isolated. i feel very strongly that in many ways the precursor for this has been 12 the years of i would say borderline irresponsible monoair the policy and fiscal policy paul: right. and so in some ways, it s not surprising that when inflation moves higher as a result of those policies, that people get caught offsides when
blanket insurance for all depositors in the united states which it sounds good, but that you re on a short trip to nationalizing the banks, in my opinion, if to you go down that road. paul: yeah. i mean, we were told, we were told that, yeah, in the wake of dodd-frank in 2010 which was the law that passed that supposedly fixed problems that happened many 2008 that no bank was too big to fail, okay? quickly became apparent that the biggest banks really are tattoo big to the fail. but now we re finding out that the 16th largest bank in the united states and a smaller bank, signature, the fosters and the uninsured depositors, they were too big to fail. so the question becomes, i mean, kid the the have to happen and really was, were these banks systemic risks as the government now says they were? and this is, i guess, another unintended law of good intentions. so unintended consequences of