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the goal overall will be to instill confidence in the american banking system. federal regulator said depositors will have access to their money today. the measures have effectively waived $250,000 insurance and of $220 billion in assets uninsured. at least 29 companies were impacted by svp collapse like pinterest, fitbit, ziprecruiter to name a few. the same has been done for new york signature bank, which was shut down over the weekend pure treasure secretary janet yellen said the action does not equal bailing out the banks. we are in the middle of a financial crisis. if you were investors and owners of systemic, large banks that were built out and we are certainly not looking to reform put in place and that means we will not do that again. but we are concerned about depositories ever focused on trying to meet their needs. ceo of pershing square eckman agrees this was not a bailout in terms of how the term has been used as of recently mainly because taxpayer funds ....
Bank. good morning to you, alex. good morning, thank you for having me. ainsley: tell us how this impacted you and your company. so, we actually did not bank with silicon valley bank. that is shut down in the crisis definitely affected us last week. our payroll provider is something where another start-up well-funded. we ve been using them over a year appear the way payroll services works is a payroll provider will debit our payroll from our bank account, sweep it to their bank account basically 24 hours prior to our payroll being dispersed to employees. so, last week, the timing could not have been any worse for us. our payroll was debited on wednesday evening and on friday morning, our employees were supposed to be paid and they were not paid. we received a message from the paper roll provider to hr ....