. we have not seen layoffs to that, but if they are not able to get access to funds of that is definitely a possibility. i hate to be a pessimist, but it is a fair question to ask. what is the next possible domino to fall? that is the question. was the implication of this? the truth is we do not really know. all eyes are on a lot of regional banks similar. one bank is first republic bank. a bank who shares dropped more than 50% for being halted but eventually the stock rallied for the week. first republic says the liquidity position remains strong, but on monday we will see if investors and the people who have their money in first republic believe that. bloomberg reported doing her and venture capitalist peter teal had his companies pull their funds from sbb this week. do we know what kind of role that played in all of this? peter is an incredibly
the levees and the dam and even we are still above average which is great to help with the drought situation but we need this rain over a long time, not what s going on right now when it s happening all at one time. thanks so much. so make the fallout from the sudden implosion is a major check lender sending shockwaves from wall street to main street. today the treasurer ruled out a bailout for silicon valley bank following is stunning collapse on friday. sbb is the biggest bank in the country the second-biggest bank failure in us history after the collapse of washington mutual during the crisis of 2008. that was followed by a massive government rescue but a bailout is not in the plans this time.
california congressman adam schiff joins me now. thanks for doing this for us we understand lawmakers have been briefed on the situation. can you told us what you have been told and what has been done to shore up? there are nervous investors and consumers. we have had a couple of briefings one with the fcic yesterday and treasury this morning and we try to emphasize the need to protect people whose paychecks and workers for small businesses unbeknownst to them have their payrolls handled by sbb and may not get a check get income that they rely on so we need to make sure we underscore how important it is people get those paychecks who are depending on it for
the white house and the biden administration is watching very closely as they are trying to stem any larger impact this would have on the banking system overall and also the u.s. economy. there are a lot of investors on wall street that are going to be bracing for whatever the administration does between now and when the markets open tomorrow morning. that s also a critical part of this. thank you very much for there is bipartisan outreach and concern on capitol hill over whether this meltdown could have been prevented and what will happen next but less or spoke with company democratic congressman adam schiff and here s what he said he is most concerned about. the need first and foremost to protect people whose paychecks, workers that is for small businesses that completely unbeknownst to them had their payrolls handled by sbb therefore may not get a check. they may not get income they need to rely on. we want to make sure we underscore how important it is that people get those pay
a banker to these immense pools of capital has always beenapitas a very good business as these nearly 40% rally this year0% ray is barely a drop in the bucket. there s been this great ifou that guy ever endorses anything canary islands, change your name. you re doing, moved to thee canary islands, changed your name because disney is coming. but just like after all the geniuses told you to buy sbb, even when it was on the brink of total collapse . what explains that? surely something does. we don tb. reall y know at s point. hopefully we will someday. what w e can say tonight is that s.v. be like the scammer s at sc amfdx had quite the public relations department. we re not some greedy we sol finance outfit that exists solely to generate cash for overpaid sleazeballs. you run it.s. no, that s not us . we may be a bank.e. we ve got the soul of an ngo. we care. we re saving the world. and to prove it, there s