after my car accident, call owondnder whahatmy c cas. eight million so i called the barnes firm. i m rich barnes. youour cidedentase e woh than insurance offered? call the barnes firm now to find out. yoyou ght t beurprpris the stock market taking a tumble today as uncertainty is continuing after the dramatic rescues of this week. it began a week ago. can you believe it already? the government was forced to ten step in after silicon valley bank fell victim to a bank run with at least three other banks needing intervention in the days sense. thursday first republic bank securing a $30 billion with a b, $30 billion life line from a group of america s largest banks. why does it feel like everyone is waiting for the next banking shoe to drop? joining me john hart, former communications director for tom coburn, karen finney, national security attorney bradley moss and republican strategist rina shaw. it s true. many have been thinking how many others are going to fall in lin
2007-2008 who wasn t on the hill? show of hands. i was a young easier times. [ laughter ] the reason these banks acted recklessly is because they were incentivized. they knew they would be bailed out. the problem in washington is that when there is no loser, everybody loses in the economy. and we have too many people in d.c. who believe in tooth fairy economics. if you lose something, money magically shows up under your pillow and everything is okay. that s the name of your next book. that s the one. yeah. but it really gets down to the question of what is your theory of wealth creation? is wealth a measure of what people value and will pay for things that are important to them, goods and services, or defined by whatever government says it is, whatever government decides to print that year. whenever we get away from wealth creation being anything other than what people value we set ourselves on a dangerous path, whether it s esg, svb, whatever
went into effect already five years ago. it dumped more than $800 billion into the economy in an attempt to reverse the country s economic slowdown. some dems say it didn t go far enough. while republicans push for budget cuts to offset the huge price tag. president obama planning to push his economic agenda this week in hopes of getting congress to raise the federal minimum wage. chief white house correspondent ed henry live with this part of the story. ed, republicans have been using the five-year anniversary of the recovery act to attack the state of our nation s economy, correct? reporter: that s right. basically the republican line is that, you know, five years later, the economy is not doing that much better. steven moore, the conservative, the economic guru, was on fox a short time ago saying spending nearly $1 trillion while the country is deep in debt is sort of what he calls tooth fairy