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Out? so this is gonna be the cor of what i expected to be the enormous political firestorm whether this doesn t does no consist of the b word here where that means bailout the way this will work as th treasury is agreed to step in, and approve action by the fdic to use a fund that is known as the deposit or insurance fund. which is exceeded and financed entirely by fees assessed on banks. so that s why they re saying this is not taxpayer money this is money that banks are being charged. now, there will be, i think, a reasonable rebuttal to thi point i same hay the money may be assessed on banks but in fact, it is still a treasury, fund if enough banks go under, it is ultimately the taxpayer that is accountable for that i posed my question to treasur officials tonight they sai they re essentially folks on ....
Protecting deposits an providing access to credit, to households and businesses, in manner that promotes strong an sustainable economic growth. here s the real after receiving recommendation from the boards of the fdic and the federa reserve, and consulting with the president, secretary yelle approved actions enabling th fdic to complete its resolutio with silicon valley bank and a manner that fully protects all depositors here s where the timeline come in depositors will have access to all of their money, starting monday, march 13th another important line, no los is associated with the solutio of silicon valley bank - will be borne by the taxpayers so much to unpack there, stephanie. i think wearing a get you back in the second. let me bring in representative judy chu of california representative chu, your reaction to the strength statement, this action by th treasury federal reserve enoug the icy? ....
Depositors will have access to all of their money, starting monday, march 13th another important line, no los is associated with the solutio of silicon valley bank - will be borne by the taxpayers so much to unpack there, stephanie. i think wearing a get you back in the second. let me bring in representative judy chu of california representative chu, your reaction to the strength statement, this action by th treasury federal reserve enoug the icy? well, i m glad that they re taking decisive action that will definitely calm th nerves of the depositors i m actually on the treasury briefing right now, but stepped away in order to d this interview and they did - assure us of the same things but the taxpayers weren t goin to be liable for this. there would be no penny of the taxpayers that will pay fo this and that all the depositor will be made whole for silicon ....
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