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word with the great lawrence o donnell. good evening hey there when i heard elizabeth warren say that she want banking to be boring, i, thought mission accomplished my entire life i hav considered those two words hav always gotten together banking and warren until one of them fails. and so, here we are. you are either a person who is excited by the movement o money, or you are lulled t sleep by it i, mean yeah. i took a lot of economics in college, and definitely put in my hours in terms of learnin it but i can t say enough or move me or gave me feelings that said, on days like this you need somebody like elizabeth warren somebody like katie porter, wh was on here earlier, to both explain what is going on but also pointed a finger at the people who did it wrong, here. who brought us to drama like we ve had in the past fe years. yes jen psaki is going to join u later in the hour. because there is nothing quite like - well there are things, like bu bank failure is o ....
do it for us tonight thanks very much for being here now, it is time for the last word. with the great lawrenc o donnell. good evening good evening, rachel. you know, when i heard elizabeth warren say that sh wants banking to be boring, thought mission accomplished my entire life, i ve considere those two words have alway gone together, banking and boring and of course, until one o them fails and so, here we are. listen, you are either person who is excited by the movement, or you are lulle asleep by it i mean, yeah i took a lot of economics in college. and definitely, like, put in m hours in terms of learning it. but i can t say it ever move me or give me feelings that said, on days like this you ve got to i mean, you need somebody like elizabeth warren, somebody who s like katie porter, who i on our air earlier tonight, to both explain what s going on but you also, i, think point the finger at the people who did wrong here, that got us to trauma like we ve had o ....
Hole by using taxpayer funds and money. that s not what they re doing here they re making depositors here, so the american, peopl people who are putting money i these, banks including large amounts of money, to your point, people try to make payroll, by using and tapping into a fun that banks paid into there s a big difference the white house is going t continue to have to explai this but there s a big difference from what happened and how i was handled back in 2008, 2000 nine which was a very, ver different scenario to. the federal deposit insurance corporation wasn t really involved in 2008. this is the key operation here that i ve been explaining to m friends over the course of the weekend that all of your ban deposits are insured by th federal government, right up t $250,000 mode bank deposits are below that so it covers most but this ban was wildly unbalanced in terms of just how much of th ....
Years. yes jen psaki is going to join u later in the hour. because there is nothing quite like - well there are things, like bu bank failure is one of the things that ruins white hous staff plans for the weekend. and so she is going to take us inside what it was a like at the white house this weekend facing this bank failure situation. and why the president has gone out at 9 am today to is sa exactly what he did say. and bank failure is why fdr felt compelled to come up with the fireside chat. his first fireside chat was 90 years ago yesterday, to explai what s going on with the bank. this calls for the bes presidential communication skills, presidential communication innovation so yeah, i imagine that was needless to, say i love the fdr portion of your top. i will be coming over probably about 11:30 or so, sunda ....
Accounts in these banks ca breathe easier knowing tha they will be able to pay their workers and pay their bills. and hardworking employees ca breathe as well. joining us now is jen psaki former white house press secretary. her new show, inside with je psaki, premiers this sunday at 12 pm eastern, 9 am pacific, right here on msnbc. jen, thanks for joining us tonight. what we just saw the president say was in the making over the course of the weekend with possible changes happening b the day, certainly by the hour take us inside what yo would ve been doing if you wer still in the white house working the white house on thi weekend. it s safe to say that the president, senior members of the white house team, th economic team, eve spokespeople were workin around the clock this weeken ....