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a building on a unholy alliance and mark warner on what he sees as a growing threat from china period. welcome, everybody. i m neil cavuto. let s get to it with peter doocy at the white house on how they re digesting all of this. peter? officials are saying this putin and xi get-together is a marriage of convenience. xi thinks that putin can help him challenge american influence. putin thinks that xi can help him in ukraine. for putin, he s speaking about his chinese visitor in glowing terms. over the last years, china has made a huge leap forward in its development. in the whole world, it s a genuine interest and we re jealous a bit. the way that the president s foreign policy when it comes to this is being explained to us, there s no effort to try to contain chinese influence in the world. instead, they would rather try to promote america s interests. do you think that putin and xi fear president biden? you d have to ask them whether they fear or they not. i ....
the federal government is now stepping in to calm financial panic over the failure of two u.s. banks. the biden administration announcing it will extend a federal backstop to all the banks deposits. treasury officials push back on the idea this was a bailout saying the burden is not borne by the taxpayers. we ll hear from president biden moments from now. water everywhere, causing chaos across central california. warnings of intense sustained flooding in the days ahead. it s unimaginable. folks, we are not done yet. former vice president mike pence telling a crowd in washington that history will judge donald trump for his actions on january 6. probably not a message that will be terribly popular with republican-based voters. three women who live in texas are believed to be missing in mexico. we really haven t had any other incidents that i can recall. and the oscar goes to everything, where every, all at once. this year at the academy award ....
In other words toughen regulations all over again? well, neil, i am open to finding out what actually happened here and if there needs to be corrections, count me in. but here is my operating premise right now. you know, banking 101, what is called basic provincial sound and safety regulation, whether you are a $5 billion bank or of $500 billion bank coming should ve been able to spot the regulators in the management that you got your interest rate wrong, you went long treasuries when interest rates went up in those treasury rates went down, so i think that was a basic fundamental flaw that again the 2018 bill, earlier bills would not affect it, that s banking 101. on top of that the other thing that i think we saw in this case was the first real internet driven run. this bank, $42 billion came out and about six hours, that was $0.25 on every dollar. ....
Right. banking 101, managing interest rate risks, that so, senator, you don t regret that vote? no. i don t regret that vote. listen, i think 2155 bill, i think it put in place a appropriate level of regulation on mid-sized banks. looking at it now, is there the appropriate amount of regulation on these banks or would you be in favor of voting to reinstitute things like the stress tests for banks like this? i certainly think moving forward that we need to come back to those questions. time changes circumstances. and i think it s appropriate for us to re-examine that. you voted why did you vote against that legislation in 2018? were you worried about something like this? you know, i think that at appropriate amount of capitalization and regulation should be required especially, you know, there was a big lobby to get the community banks out from under the regulation of dodd-frank especially the very small ones. i didn t think that the regional ....
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