Just a bit wobbly, it is in serious trouble. , ,, , , , just a bit wobbly, it is in serious trouble. , ,, ,, , :: trouble. yes, credit suisse is 170 ears trouble. yes, credit suisse is 170 years old. trouble. yes, credit suisse is 170 years old. when trouble. yes, credit suisse is 170 years old, when the trouble. yes, credit suisse is 170 years old, when the foundation l trouble. yes, credit suisse is 170| years old, when the foundation is the banking world. it is that a rocky last few years though and i was on the brink of this takeover and this is a fast moving situation because of the impact on the banking world in stock markets in the world as well and there are reports that the ebs, a much bigger bank, is in talks which include the swiss central bank and regulators out there as well and the bank here in chance level of monitoring the situation. details of that at the moment the let s backtrack a bit and see how. early this week that talks about the silicon valley bank, the
Eventually it will have to stop. when that happens, then there will be like a necessity a political necessity of going after everything, government spending on the discretionary side and the entitlement side and defense as well. they re going to have to do it because they ll run out of money. neil: we ll see. right now it does not look promises the way we re going. hope springs eternal. desperate measures and desperate times call for not so desperate grievances to address all of that. kevin hassett on all of that. i talked to sheila bear, the former fdic head that know as thing or two about meltens. the issue came up about what we re looking for now with this craziness in the banking world. the stock market was down almost 400 points today. the obvious question came up, could we be in for something like the meltdown that we experienced almost 15 years ago? another lehman moment, if you will. take a look.
Chair powell yesterday. if they don t do anything in interest rates, if they keep them where they are, that could further spook the market. they re looking for uncertainty. maybe you could go to another bank and get a higher interest on your bank. banks might have to raise the money. that s not good for investors and banks, but that s good for customers and banks. for customers, for deposits, i think you re okay. investors are the ones who are really we talk about the stock market. investors are worried about what s happening in the banking world. but i think customers of banks are in fine shape. the biden administration doesn t want anyone using the b word, bailout.
Who are really, we talk about the stock market right now, investors are the ones who are worried about what is happening in the banking world. but i think that customers of banks are in fine shape. what do you think happens in washington? this is your beat, and the biden administration doesn t want anyone using that word. bailout. there s a lot of argument over that. the question is, do you actually believe that congress will act in a bipartisan way? no. i don t even know what you re asking. [laughter] to reenact some of the financial reforms that were rolled back in 2008. i m pleased to tell you my previous answers to my answer at this point. i think there s a couple things here. democrats have said that whatever solve this. so, we ve had a lot of discussions about this. but what i ve been using is, it s not clean. and its sense of, if that had been in place, svb wouldn t been able to build the book that they built, or put
Run on the money. run on the banks and then we had a great depression. so the banking system is really a charade, it s a frequent charade. it s not really a frequent the free market.the government has d it up. you saw under the reagan administration you should say peter you sound like reagan, under the reagan administration in 1984, you know, continental illinois the largest bank failure of its time stopped that whole thing the blood loss there was stopped by the reagan administration and so we re seeing something similar happen in 2008 and now the pattern is happening again. this has been the case for banking systems back to the u.k. before america took leadership in the banking world. the government really has to act as that back stop really it to ensure those deposits we are going to have money stored under mattresses rather than flowing to entrepreneurs like myself but