this week s actions demonstrate our resolute commitment to insure that our financial system remains strong and that depositors savings remain safe. paul: let s bring in jason trender, chairman and ceo of an investment strategy firm. jason, quite a week in financial markets. you know, the treasury secretary says all is well, safe and sound, but the markets aren t acting like it. just how big a question a problem is this in the banking system? well, paul, we don t know yet, but i think that, you know, history has taught us that, generally speaking, when there are problems like this in the banking system, they re not they generally don t tend to be isolated. i feel very strongly that in many ways the precursor for this has been 12 the years of i would say borderline irresponsible monoair the policy and fiscal policy paul: right. and so in some ways, it s not surprising that when inflation moves higher as a result of those policies, that people get caught offsides when
ahead this st. patrick s day friday starting with desperate measures on wall street. nearly a dozen banks teaming up to prevent this week s financial turmoil from spreading their $30 billion life line to save another major bank from potential ruin as janet yellen works to sooth the markets and reassure americans that their money is safe. i can reassure the members of the committee that our banking system is sound and that americans can feel confident that their deposits will be there when they need them. plus major move in china s partnership with russia, announcing this morning that xi jinping will visit russia next week at the invitation of vladimir putin that comes as russia continues to search for the downed u.s. drone intercepted by a russian fire jets. why the pentagon says russia won t find anything useful even if they do track it down and rage on the streets of paris, thousands of protestors rise up over an unpopular move by macron raising the age of retirement
reporter: you don t have to get lost in the desert to get the brain benefits experts suggest changing your usual route, turning off the gps on routine trips, and getting lost on purpose for the challenge of finding your way. for kathy, who has a family history of dementia, her good old map and compass could be the key to keeping her brain sharp dr. john torrez, nbc news, cade creek, arizona good for her. we have a lot to cover in our second hour of chris jansing reports. let s get right to it. at this hour, surf, sand, and seaweed? we ll tell you about an enormous and frankly kind of scary looking blob that s threatening to ruin spring break on south florida beaches. school officials in los angeles scrambling to prevent a three-day strike, which would shut down school for hundreds of thousands of students. straight ahead, where those talks stand right now. the clock is ticking for tiktok the biden administration threatening a ban unless the owners give in to pres
of asian men is jailed for eight and a half years. china and russia have denounced a defence pact, agreed by the us, uk and australia, that will provide australia with nuclear powered attack submarines. russia said the pact would bring years of confrontation to asia. the chinese foreign ministry said the three countries were on a path of error and danger, calling the deal a violation of the aims of the international non proliferation treaty. here s the chinese foreign ministry spokesperson wang wenbin speaking at the daily press briefing. translation: china has repeatedly stressed that the aukus pact - and the three countries efforts to advance cooperation on nuclear submarines and other cutting edge military technology is typical cold war mentality. it will only spur an arms race and undermine the international nonproliferation regime and harm regional peace and stability. peace loving countries have expressed their serious concern and opposition. the three countries lates
any moment now, president biden will address the nation from that podium right there amid concerning questions about potential contagion in the u.s. banking sector. what does that mean for your money? a very good monday morning to you. i m jim sciutto. and i m erica hill. president biden expected to try to calm fears in a matter of moments when he does make his way to that podium, this amid the failure of two u.s. banks. we re talking about silicon valley bank, which you ve heard a lot of this weekend, as well as signature bank. the biden administration is taking emergency action here and there is the president. let s listen in. for california. i want to briefly speak about what s happening to silicon valley bank and signature bank. today, thanks to the quick action of my administration over the past few days, americans can have confidence that the banking system is safe. your deposits will be there when you need them. small businesses across the country that deposit ac