Cohen Mo Sheila News Today : Breaking News, Live Updates & Top Stories | Vimarsana

of a global financial crisis are underway. rescue plans are been offered to 1st republican credit suisse banks to reassure markets. us treasury secretary has appeared before senate committee, assuring it that the country s banking system is sound. we worked with the federal reserve and if d i see to protect all depositories of the to feel banks. on monday morning, customers were able to access all of the money in their deposit accounts, so they could make payroll and pay the bills. shareholders and debt holders are not being protected by the government. importantly, no taxpayer money is being used or put it risk with this action. deposit protection is provided by the deposit insurance fund, which is funded by fees on banks. rob reynolds has more on this now from los angeles. on the one hand, the, the branch behind me is still open for business. so that s a good thing. on the other hand, 1st republic shares in after hours trading fell about 13 percent. not exactly a sign ....

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