a lot of people are frustrated and scared. it s scary for the world, i guess. i anticipate there will be a lot of moving money to the bigger banks. neil: unbelievable. believe it. fox on top of it. a banking mess in the making and still messy. three banks have technically collapsed this month. actually in just the past week. so far fears of a contagion are not taking held. here s what we know. customers are nervous, make that very nervous. officials aren t helping matters in when they say don t worry. we ve got this. do they? we ve got you covered with kelly o grady outside silicon valley bank branch where customers have been lining up. peter doocy in san diego where the president is trying to tamp fears down. peter, what are traders watching? none other than carl icahn on where this crisis could be heading. welcome. i m neil cavuto. so much happening today in real time fast time market conditions. let s go right now to kelly in los angeles with the very latest from the
it s 10:00 a.m i m lindsey reiser at msnbc headquarters in new york we re following a lot of breaking news on this busy monday morning, including president biden assuring the country our financial system is safe amid heightened fears of a banking crisis after the collapse of both silicon valley bank and new york-based signature bank americans can rest assured that our banking system is safe. your deposits are safe let me also assure you we will not stop at this we ll do whatever is needed. the government is taking extraordinary new steps to ensure customers will have full access to their money, a major move by the treasury and the federal reserve to shore up the banking system and prevent the panic from spreading to other banks. plus, a promise no losses will be shouldered by taxpayers and officials will hold the people responsible fully accountable. more on this in moments and what you need to know about your money. plus, no-show. donald trump s lawyers say he wi
some $200 billion, nearly that worth of startups from here in san francisco and across the country scramble to try to get their money out. i ve spoken to ceos over the course of the weekend who describe trying to go in person to get a cashier s check out if they could true 1930s still lining up at the bank to try to get their money out. their relief this morning that the government is going to step in and have them liquid again has them very, very relieved they all say on top of all the other difficulties in tech, worrying about fdic for the big cash deposits you have to make as a venture-backed startup, that s a big addition to their list of worries. lindsey. allie, as we watch a picture of president biden heading to the meeting with the prime ministers of britain and
back. well, i think the first thing i m going to do is get it in to more places than i had it and really look at, you know, the fdic limits and be cautious when it comes to where i put my money and how i do it. the reality is as a venture backed startup and small business, why need partners like silicon valley bank. we need the big guys to help power small business and innovation across this country in the way that svb had been doing it. because, you know, i m i took a career shift at 40. i m 44 years old. you know, the idea of putting my house up as collateral is a little bit scary. that s where we are. if that s what we re going to do, we re all in. i m a steward of other people s money that trusted me with their capitol. i m going to do what it takes to survive. that s what i m going to do.