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word with the great lawrence o donnell. good evening hey there when i heard elizabeth warren say that she want banking to be boring, i, thought mission accomplished my entire life i hav considered those two words hav always gotten together banking and warren until one of them fails. and so, here we are. you are either a person who is excited by the movement o money, or you are lulled t sleep by it i, mean yeah. i took a lot of economics in college, and definitely put in my hours in terms of learnin it but i can t say enough or move me or gave me feelings that said, on days like this you need somebody like elizabeth warren somebody like katie porter, wh was on here earlier, to both explain what is going on but also pointed a finger at the people who did it wrong, here. who brought us to drama like we ve had in the past fe years. yes jen psaki is going to join u later in the hour. because there is nothing quite like - well there are things, like bu bank failure is o ....
do it for us tonight thanks very much for being here now, it is time for the last word. with the great lawrenc o donnell. good evening good evening, rachel. you know, when i heard elizabeth warren say that sh wants banking to be boring, thought mission accomplished my entire life, i ve considere those two words have alway gone together, banking and boring and of course, until one o them fails and so, here we are. listen, you are either person who is excited by the movement, or you are lulle asleep by it i mean, yeah i took a lot of economics in college. and definitely, like, put in m hours in terms of learning it. but i can t say it ever move me or give me feelings that said, on days like this you ve got to i mean, you need somebody like elizabeth warren, somebody who s like katie porter, who i on our air earlier tonight, to both explain what s going on but you also, i, think point the finger at the people who did wrong here, that got us to trauma like we ve had o ....
Hole by using taxpayer funds and money. that s not what they re doing here they re making depositors here, so the american, peopl people who are putting money i these, banks including large amounts of money, to your point, people try to make payroll, by using and tapping into a fun that banks paid into there s a big difference the white house is going t continue to have to explai this but there s a big difference from what happened and how i was handled back in 2008, 2000 nine which was a very, ver different scenario to. the federal deposit insurance corporation wasn t really involved in 2008. this is the key operation here that i ve been explaining to m friends over the course of the weekend that all of your ban deposits are insured by th federal government, right up t $250,000 mode bank deposits are below that so it covers most but this ban was wildly unbalanced in terms of just how much of th ....
That s not what they re doin here they re making depositors whole, so the american, people people who are putting money in these banks including large amount of money, to your point, peopl try to make payroll, by usin and tapping into a fund that banks paid into. there s a big difference the white house is going t continue to have to explai this but there s a big difference from what happened and how i was handled back in 2008, 2009 which was a very, very different scenario to. the federal deposit insurance corporation wasn t really involved in 2008. this is the key operation here that i ve been explaining to m friends over the course of the weekend that all of your ban deposits are insured by th federal government, right up t $250,000 mode bank deposits are below that so it covers most, but thi bank was wildly unbalanced i terms of just how much of th deposits in this bank, wildl exceeded the 250,000 dolla limit which made the bank al the more precarious. ....
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