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MSNBC The Last Word With Lawrence ODonnell June 4, 2024 05:43:00

That s not what they re doin here they re making depositors whole, so the american, people people who are putting money in these banks including large amount of money, to your point, peopl try to make payroll, by usin and tapping into a fund 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, 2009 which was a very, very 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 thi bank was wildly unbalanced i terms of just how much of th deposits in this bank, wildl exceeded the 250,000 dolla limit which made the bank al the more precarious. ....

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MSNBC The Last Word With Lawrence ODonnell June 4, 2024 02:41:00

The white house team, th economic, team eve spokespeople were workin around the clock this weeken in the white house because whe you have a situation like this one that s so fragile with the economy, it s a race against time until the markets open so over the course of the weekend from officials i spoke to they were obviously making decision about what policies they wer going to put in place to wha they were going to do with thi bag. and most importantly, you sa the president announce thi this morning, they mad decisions about how to kee depositors hole. so the american people, of the public, the people who had their money in these banks, to ensure that they had the confidence that they would get their money back, and why that is so important is because the knew, as soon as the markets opened, lawrence, and this i why the president did it befor they did, that there could b panic. people could be fearful. people could be rushing to banks to get their money out and they knew that the fir ....

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MSNBC The Last Word With Lawrence ODonnell June 4, 2024 02:40:00

Over the past few days america s going to hav confidence that the bankin system is safe your deposits will be ther when you need them small businesses across th country that have deposite accounts in these banks ca breathe easier knowing tha they will be able to pay their workers and pay their bills. and a hardworking employees ca breathe as well. joining us now is jen psaki former white house press secretary. her new show, inside would jen psaki premiers this sunday a 12 pm eastern, 9 am pacific, right here on msnbc. jen, thanks for joining us tonight. what we just saw the president say what is 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 are still in the white house working the white house on thi weekend. it s safe to say that the president, senior members of ....

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