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that ensures bank deposits and overseas financial institutions. the agency says all insured depositors will have access to their deposits no later than monday morning. the fdic ensures deposits of up to $250,000. why did this bank fail so quickly? it is an old school bank run in a modern economy. you can point to two reasons. the first is that the fed has been increasing interest rates since 2022. that has an effect on thing bank s assets, which means its unrealized bonds were worthless money. those increased interest rates has had a devastating effect in the tech sector at large. the tech sector has seen layoffs and funds been sold off. that has led to panic. that s led to group chats of founders of vcs all abuzz with what to do with svp. that led to panic. nobody wants to be the last customer held at a bank. help break down all those affected. svb was the premier bank in silicon valley. we ve seen tech companies banking at svb as kind of a badge of honor. right ....
correspondent chat pergram followed this all day and came to a head moments ago. good evening, chad. good evening bret. the house passed 217 to 215 and four gop defection and the bill wasn t ready to pass last night and nancy mace called the bill weak and she s a yes today. that s a pretty dramatic change and position. we had a very productive meeting because until then, a lot of us have not been included in the conversation so to get that commitment from him and working with us on balancing the budget and members force mccarthy to alter the bill in order to win their votes and one change moving up the date for healthy people to find work if they want to qualify for food aid. in the midnight seance that republicans conducted, mccarthy preserved tax breaks for ethanol, corn state members ballinged. we ll not allow balked. we ll not allow them to budget it on the back of american farmers. but tim burchette. we re increasing the debt $1.5 trillion over te ....
to the breaking news tonight. now, former president donald j. trump has been indicted by a criminal court in new york city . he will be arraigned ink that wl manhattan at some point next week. we are told will likelyke new be tuesday. fake news. cncnn is reporting that he coull face over 30 charges. in a statement, trump is saying, quote, political persecution and election interference at the highesution ant level in hit from the time i camehe down the golden escalator trump tower, and even before i wasfore sworn in as your president of pt the u.s., the radical left t democrats, the enemy of the hard working men and women of this country. they have been engaged in a a witch to destroy the makey th america great again movement. now, you remember it just like i do. russia, russia, russiae , the muehler hoke s, ukraine, ukraine, ukraine, impeachment, hoke s one impeachment hoke s to the illegal and unconstitutional mar-a-lago rage. and now this. he s right after years ofn ....
it s done. dana: a big tease for quite a while. president biden made the announcement in a video released early this morning and some of the slogans from his last campaign and attacked so-called maga republicans and implores voters to help him finish the job. president biden: when i ran for president four years ago i said we re in the battle for the soul of america. we still are. the question we re facing is whether in the years ahead we have more freedom or less freedom, more rights or fewer. this is not a time to be complacent and why i m running for re-election. around the country maga extremist are lining up to cut social security that you paid for your entire life while culting taxes for the wealthy. dictating what healthcare decisions women can make. banning books and telling people who they can love all while making it more difficult for you to be able to vote. this is our moment. bill: it s part of the 3:02 release today. the president going ahead with his ....
to put donald trump in jail since 2015. and today, democrats have gotten them closer to that goal. and let s be very clear .t goal. the whit vere house is the key player in this game ofgame o political vengeance. now, sure, they re officially saying no comment when they were asked about alvin bragg s indictment of president trump. but make no mistake, tonight,ve joe biden bears the ultimate responsibility for what thisthi will do to america. will do toour nation s chief exe has the inherent duty to do everything he or she can presything he or she can to preserve america s standing in the world as the world s leading democracy. now, that means whether through back channels or public speeches, biden should have theeches, biden should have made it very clear that his party would oppose any locals prosecutor who uses trumped up criminal chargesarge to punish and humiliate a former prd humiliate a former president . but of course, biden didn t doid this. instead, oncent.e ag ....