of asian men is jailed for eight and a half years. china and russia have denounced a defence pact, agreed by the us, uk and australia, that will provide australia with nuclear powered attack submarines. russia said the pact would bring years of confrontation to asia. the chinese foreign ministry said the three countries were on a path of error and danger, calling the deal a violation of the aims of the international non proliferation treaty. here s the chinese foreign ministry spokesperson wang wenbin speaking at the daily press briefing. translation: china has repeatedly stressed that the aukus pact - and the three countries efforts to advance cooperation on nuclear submarines and other cutting edge military technology is typical cold war mentality. it will only spur an arms race and undermine the international nonproliferation regime and harm regional peace and stability. peace loving countries have expressed their serious concern and opposition. the three countries lates
would face tougher scrutiny, they tried to and were successful in raising that so that banks at the 5200 $250 billion level did not face those tougher restrictions. and look, the banks argued that they didn t want to face the paperwork, they didn t want to face the restrictions, that the restrictions would restrict them from lending money which would hurt the economy. that was their argument. hour money which would hurt the economy. that was their argument. that was their argument. how is it that silicon that was their argument. how is it that silicon valley bank that was their argument. how is it that silicon valley bank and - that silicon valley bank and announced that business is conducting business at usual in the us in the moment s one are the repercussions going to be for quest marki repercussions going to be for quest mar r ~ ., mark i think the ferc and the regulatory mark i think the ferc and the regulatory system mark i think the ferc and the regulatory system in - m
hello to you david. how much was known about the situation with sv because mark known about the situation with sv because marl because mark that s a great question- because mark that s a great question. more because mark that s a great question. more certainly . because mark that s a great - question. more certainly should have been known. the regulators had a chance and had the power to know a lot more but of course before, in the years before the bank collapse, the years before the bank collapse, the bank was lobbying to reduce scrutiny on it from regulators. as we reported the banks president had actually personally pushed senators to raise the threshold where the limits on what kind of banks were scrutinised with stress test, with more granular regulations, and more stringent capital requirements. the bank president pressed the us senate to do that. in the us senate ultimately obliged into thousand 18, and the federal reserve similarly
purposes of depositors and their money, the thought that the biden administration is to try to create continuity so that people don t start, whether at this bank or other banks, similarly sized banks, don t start pulling their money out, fearing that their deposits are going to vanish and moving that moneyjust into the biggest of big banks. money ust into the biggest of big banks. , ., ., ., money ust into the biggest of big banks. , ., ., ,, money ust into the biggest of big banks. , ., . ~ i” money ust into the biggest of big banks. , ., ., ,, ., ,, banks. very good to talk you. thank ou so banks. very good to talk you. thank you so much banks. very good to talk you. thank you so much david banks. very good to talk you. thank you so much david from banks. very good to talk you. thank you so much david from lever - banks. very good to talk you. thank you so much david from lever news| you so much david from lever news and also the guardian. now a few minutes ago, i brough
roblox, roku and even etsy. the knock on effect would have been huge if svb failed. and remember the last time a us bank failed, back in 2008? it sparked a financial crisis in the us and it turned into a global recession, and nobody wants to see that happen again. so now, us regulators have stepped in and said, ok, whoever has cash at the bank, well, we re going to guarantee that you ll have access to it. problem solved, right? hmm, not so fast. a bunch of smaller regional banks are seeing their share prices plummet. and that s because a lot of investors are asking, is this bank safe? or is this one also on the verge of collapse? samira hussain in new york. on the fallout from the silicon valley bank episode. joining me now is a columnist at the guardian,