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CNN CNN Newsroom Live July 6, 2024

day on wall street, the u.s. government steps in to protect a failed bank, promising depositors they won t lose a penny. one film won everything everywhere all at once at this year s oscar awards. plus already-flooded parts of california bracing for yet another powerful storm. live from cnn center, this is cnn newsroom with rosemary church. good to have you with us. we begin here in the united states where the biden administration is stepping in to contain the fallout from the sudden collapse of silicon valley bank. authorities say customers will have access to all their money starting monday morning. the president also promised to hold those responsible for the bank s failure fully accountable. he will speak about the issue in the coming hours. regulators also shot down another regional institution, signature bank, fearing it was also on the brink of collapse. cnn s arlette saenz has more. reporter: the biden administration took extraordinary steps sunday t ....

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CNN CNN Newsroom Live June 4, 2024 06:04:00

Ultimately, the white house and the biden administration has tried to stress that they believe that the banking system in this country is resilient in part due to those reforms put in place after the 2008 financial crisis. president biden told reporters as he was traveling back from delaware on sunday that he would talk about this issue on monday morning as his white house is trying to ensure that there are not more stresses put on the u.s. banking system and the u.s. economy writ large. arlette saenz, cnn, the white house. cnn economics and political commentator katherine ramphill spoke to us earlier about why the administration s scramble over the weekend to contain the f fallout from the bank s stunning collapse. there were a number of banks that saw stock prices tank friday as a result of concerns over silicon valley bank. people worried, it happened there, it can happen here as ....

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