again. you were so great last weekend. we had to come. have you come back to break down all the worries that so many people have because the secretary you know of treasury, the fed chairman, all of them said you know what? don t worry about banks. everything is fine should be be worried about particularly the regional banks. what do you say it that way. you make me scared. what is this true worry about regional pain. i m not here to scare anybody, but i think it s important for everybody to understand why this is occurring right? the regional banks are important to the u. s economy. we can t have them fail, i think and we saw let me just put some data. the federal reserve put some data out there about $98.4 billion from accounts room where collectively moved during the week of september. 15th march 15th sorry from silicon valley and signature bag. why does that matter? so what we what happens is large institution. salt deposits increase to $67 billion . so when you see that people star
cost to holding on to those secrets. oh yes, the government spends now 18.4 billion dollars a year trying to protect information and keep it from the american public. but that was from 2017. they have actually lost track. they can t even estimate how much money they spend every year on secrecy. and one of the points circling, that was always made, there are absolutely necessary secrets that the government must maintain and secrets. he was a member of the senate intelligence committee, he sought real secrets that should be held secret. his point, your point is that we have wildly overdone this. and the system feeds on itself and the power to create secret sauce expanded to now thousands of people, who could just decide that that is the secret. that is one of the reasons it is so dangerous because we are not protecting secrets that really can kill people, identities of covert operatives, hacking tools from the nsa and the cia, tens of millions of personal records that have been
our business correspondent ben boulos has more. they should get a bit more information about it when it s announced in the house of commons later today. we should say that the current scheme caps the unit cost of gas and electricity for all businesses. remember it as a cap on the unit cost, not the overall bill, so the more they use the more they pgy- so the more they use the more they pay. the new scheme that replaces it will give businesses a discount on the unit cost. it won t set a maximum unit cap or price. the treasury has said that sectors use a lot of energy, energy intensive businesses like steel making, glass, ceramics and so on will get a larger discount than others. but the total level of government support across the board is expected to fall sharply. the new scheme is expected to be worth less than half the current scheme which is estimated to have cost £18.4 billion over six months by the time it ends at the end of march. but even with the new