of control the washington post is reporting that officials are safeguarding all uninsured deposits at ? valley bank this is a response of the government can t find a buyer for the failed bank and the treasury department has briefed lawmakers about the latest on the situation. they were the go to lender protect startups until the sudden collapse on friday. and what are we hearing from the bided administration about what s being done and what s being ruled out? the bided administration has been working trying to find a solution in the wake of a collapse a bank the treasury secretary said she has been speaking with regulators throughout the weekend and depositors and president biden spoke last night with the california governor gavin newsom about steps to address the situation. one big question is regarding the deposits at the bank for the time being the fcic insures deposits up to $250,000 leaving them to question what happens to those who have larger than that amount and t
of the collapse of silicon valley bank. treasury secretary janet yellin said she has been speaking with financial regulators the treasury department is also been hearing from depositors themselves bid for president biden gavin newsom about efforts regarding this california-based bank. but earlier today, one thing janet yellin did completely rule out is there be any large-scale bailout for this bank and the weight that was seen back in the 2008 financial crisis. let me be clear that during the financial crisis, there were investors and owners of systemic large banks that were bailed out. we are certainly not looking. the reforms that have been put in place means that we are not going to do that again. but we are concerned about depositors and are focused on trying to meet their needs. the fate of those depositors on the money that has been held at this bank is really one of the looming questions regarding this whole situation. the fdic only ensures up to $250,000, leaving
the house whisperer! this house says use realtor.com to see homes in your budget. you re staying in school, jacob! realtor.com. to each their home. quick democratic leaders are trying to tamp down some backstage party drama over vice president kamala harris before it becomes a story for the 2024 campaign and generally senator elizabeth warren raise some eyebrows during a local boston radio interview while enthusiastic but president joe biden run for reelection she stopped short of saying, here should stay on the ticket. i really wanted firm topics by uncomfortable on his team. cnn isaac with a more on this interparty intrigue. isaac, warned i guess you are
we are live at the scene of the newsroom i am jim and washington s tonight the white house is trying to make sure one bank of failure does not cause serious financial problems for the rest of the country for the washington post is reporting federal officials are considering protecting all uninsured deposits at silicon valley bank. but for now that is just a possibility if the government cannot find a buyer for the failed bank. meanwhile the treasury department has brought california lawmakers on the situation for it silicon valley bank was a critical financial resource for tech startups until sudden collapse on friday. cnn is live at the white house for us. what are you hearing for the biden administration in terms of what they might do in might not do in this situation? will jim come and bite administration has been working around the clock this weekend for trying to do with the pilot
and think you may have a very good night for him so excited to meet all of you. jim, back to you. stephanie, that is terrific, terrific entry please give our best of the entire navalny family such courage by the entire family and hats off to the crew there. there so many of us at cnn really pulling for navalny to win that a word, thank you very much we appreciate it. in the meantime right now the white house is working to make sure one bag a bank failure does not lead to terminal for the national economy. we get major development in thi is just ahead your life in the cnn newsroom. aww. [ audience cheers ] maybe try switching your car insurance to prorogressiv. you u could save hundreds. [ audience laughter ] thanks, tv dad. we ll think about it, okay? look what i found. -a puppy! -a puppy! oh, no, no. i wish tv dad was always in charge. [ dog barks, audience laughter ] listen to your tv dad.