no, it s not a big deal , just this one bank. it s not connected else at all. . and th. e and the fact that this bank failed, just like the fact that fctc failed, has nothing to do d with the fact that the peoplee t who run it spent a ton ofn of their time doing completelye do irrelevant crap that had to do irrelevant that had to dos and with politics and changing american culture. you reassured by that? well, you should know that a cecilia rouse has been thinkingh a lot about this when sheise wo princeton, a university in new worked at princeton, which is a university in new jersey, shereh had her research agendaion. on diversity, equity and inclusion. the title is worth quoting , diversity in the diversity in the economics profession. a new attack on an old problem because the color of your economist is essential. their competence not so much.esh just so you know, by the way, these are the consequences of that attitude. ica. see south africa, wh they don t have electricity to
ba banks in this country, wellsnkco fargo, bank of americauntry,, jp morgan, morgan stanley, collectively lost more tha nne fifty billion in market value in one day. that s quite a hiat s a ht. on the other hand , those bankss still exist. and you can t see that for bank.n valley as of this morning, silicon valley bank or svp, has gone under completely.es the that makes the second biggest bank failure in the history ofef this country and the significant sub finance, nearly half of all venture backed health care and technology companies in the unite healthcai states .ant cash it also apparently held significant cash reserves, just one of the biggestrves for cryptocurrencies, and it s now gone. federal regulators have renamed it and taken it over.ov and that means an awfu l lotf m more people lost an awful lot of money and most of that money was not insured. nhat theyno matter what they t, the fdic only guarantees bank fdicdeposits up to two hundred and fifty thousand. an
yeah, that was in selma, selma alabama, one of the poorest cities in america. , actually place. i it s gotten much worse in the the last 60 years. you ll notic placee it. neither hillary nor barack obama or any of these peopleo hp actually do anything to help selma or baltimore, gary or detroit, just theft. they re doing well. speaking of thefts, embankment friede, sbf appears to bebigges getting away with one of the biggest financial frauds, maybe the biggest financial fraud in history. he it, he knows it, too. we now have more confirmation that probably not going to be punished. jason rance is for tonight anyway. rant, oucorresour crime correspy he joins us to explain. hey, jason hey, tucker.disgrace the disgraced former ceo of fctc, sam frehley s beinge th invited to testify before a house committee this month. however,ee. he s he s unlikely t the grilling that he deserves. in fact, iit is got actually coe love fest. democratic congresswoman maxine waters chairs the house f
of priorities that we will watch to see if they do find accountability when it comes to , as you mentioned, afghanistan or one biden s laptop scandal that could indict corruption at the highest levels of the american government or as we ll talk about a little bit later tonight, this scandal with fctc. what do you want to see, candice ? as a priority from the house of representatives? any of them, anybody being held accountable, not just paper pushing, not just congressional hearings, not people just talking to us and saying, look, we re asking the tough questions. we don t want tough questions. we want tough answers. all right. candice owen s always great first time we have spoken together, but always great to hear from you and glad to have you on the show tonight. thank you so much. all right. i mentioned more coming up on that in just a moment. but a little bit earlier in the show, i mentioned paul pelosi. tonight, there s more confusion about what happened inside nancy pel