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message from democratic leaders to allies, stop piling on the vice president if they want the party to win next year. plus thank you to the academy. this is history in the making. actress michelle yeoh capping a night of triumph for everything everywhere all at once. big win there. see who else won the biggest awards of the night, ahead. all right, welcome to our viewers in the united states and around the world. i m rowchristine romans. just hours from now, president bide will be speak to the nation about his administration s plan to cool with the failure of two, two banking, silicon valley bank and signature bank, two commercial banks with more than $200 billion in total deposits. tvb a major startup of tech startups. federal officials are desperate to prevent contagion leading to runs on other banks. so far, they ve promised everyone with deposits in those two banks ininsured and uninsured will be able to get the money out and now with the bailout in ....
Have kept congress abreast over their actions, of course, this weekend, doing multiple briefings with divided members of congress, trying to keep them hand in hand, as this administration looks to respond to this very, very serious issue. christine. jasmine, thank you for that. we ll stay on top of that and wait for the president later today. we have more news to discuss later in the hour with you, let s bring in a professor of economics at harvard university and a former inf economist. did you say the white house had no other choice, they had to do this? no, there was panic, i mean, not just in silicon valley, but even here in new york. there s just panic all over. everybody talking about taking their deposits out of the smaller and midsize banks, and they had to do something dramatic. let s talk about how we got here. explain how a quick rise in rates of the federal reserve can cause something like this to happen? well, when interest rates ....