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FOXNEWS Your World With Neil Cavuto June 4, 2024 20:44:00

That will take time to work out. it may be that very little of that backstop money will actually be used. could be the opposite. in any case, it s money that is put up by the entire american banking system. it s not one bank. that cost is spread out among all of the banks, the big and the little and it s proportionate to the size and operations of the bank. so perhaps on the margin, but i suspect there will be something far more important that will determine the cost to the customers that will be how much profit the bank wants to make, how much competition a bank has. that could or could not raise their prices because of the competition. that s are far more notable than the issue of this particular backstop is. neil: if we did want to ensure depositors limitless abong the 250,000 per person on 500,000 a couple, this dead ....

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FOXNEWS Your World With Neil Cavuto June 4, 2024 20:20:00

Been in my life. it was so much better 10, 20, 30, 40 years ago. the reality is that the notion of contagion, yes, there could be some other banks that could have trouble. that s always been true, this bank relative to the size of the economy, would be smaller that continental illinois bank relative to the size of the economy when it failed in 1984 and nothing very bad happened then. people forget these things. they have a hard time thinking how big something is relative to the size of the economy. our economy has grown hugely in my lifetime and your lifetime. neil: let me ask you about an anniversary thatter with approaching. on friday, it s one year since the federal reserve started raising rates from zero up to where they are now, touching 5%. a quarter percent move. you think part of the collateral damage to say nothing of the slow down in the economy, are ....

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FOXNEWS Your World With Neil Cavuto June 4, 2024 20:23:00

Matter because the government will save you. you ll get rampant inflation and the currency will go to hell. neil: what do you think of that, that we have opened up a pandora s box? we have. but certainly not in the short term. why opened it up because we have set a precedent that says that if banks get in to trouble, we will for sure, relatively smaller ones, protect their depositors. that creates a form of morale hazard that will almost ensure we ll have more bank failures, who picks up the tab? officially it will end up being the collective banking system where then banks will charge higher rates on deposits, customers will like that but take riskier loans to make up for it creating future problems. that problem of a bank s taking on more systemic risk because of having to pick up the tab for this will create more problems ....

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FOXNEWS Your World With Neil Cavuto June 4, 2024 20:46:00

Depositors at the bank. and silicon valley bank is not just a venture capitol bank. they have corner grocery stores on it. there s a wide range of assets and loans neil: i wish we had more time, sir, but to your point you hope it s limited to these institutions and toesn t go beyond and knock on wood. so far so good. congressman, thank you very much. i appreciate it. surely. thank you. neil: all right. meantime, in the middle of that, we have nasty weather on the other side of the country right now. along the east coast. they ve been calling it a nor easter and a it s not done and it s messy and it s going to last awhile after this. research shows people remember ads with a catchy song. so to help you remember that liberty mutual customizes your home insurance, here s a little number you ll never forget. did you know that liberty mutual custo liberty mutual. only pay for what you need. only pay for what you need. custom home insurance created for you all. ....

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FOXNEWS Your World With Neil Cavuto June 4, 2024 20:45:00

Spread to lots of banks, simple math tells you that will be very expensive. virtually impossible for consumers not to have to pick up some of that tab, right? well, if the world stops turning, there s going to be a lot of problems, too. let s not get too hypothetical here. the reality is at the moment, the no other bank has failed at this moment. there s not been other runs on the banks. that s important. it is the panic that is the question. if there s a panic, then yes, there may be another bank or so that would rely upon this backstop. what biden and his team did was to step in with a very strong, very aggressive and very fullsome program to calm the situation and to provide assurances to all of the ....

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