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protection in the united states, while it seeks buyers for its assets. that s hot on the heels of its subsidiary silicon valley bank being taken over by us regulators and the british arm of the same bank being bought by hsbc. separately, in an extraordinary move to contain panic in the banking system, 11 of america s biggest financial institutions have agreed to a $30 billion bailout for first republic, a regional us bank based in san francisco. here s samira hussain in new york. good to have you with us. explained this bankruptcy protection, how significant is it for svb financial group? it significant is it for svb financial . rou . ? ., , significant is it for svb financial u-rou? ., significant is it for svb financial a-rou? ., .,., significant is it for svb financial u-rou? ., . , , , , group? it wasn t a total surprise that svs, group? it wasn t a total surprise that svs, the group? it wasn t a total surprise that svb, the parent group? it wasn t a t ....
Going to do this. because we are looking at a position in which all the people who have money at svb want to be able to get some of that back. and that s why you are seeing that they are trying to sell off parts of it. it is not totally a surprise, but it does sort of set up what could be a battle between this bankruptcy protection and the fdic. it is the fdic that has taken control over the bank svb, silicon valley bank. they are trying to recoup money and then you have this bankruptcy protection so they could be a bit of a skirmish in that. we have seen be a bit of a skirmish in that. we have seen in be a bit of a skirmish in that. we have seen in the past, central banks step in to help out troubled banks under pressure. this is quite an extraordinary situation with first republic bank in the us, where other banks, not the central bank, but other financial institutions have stepped in together to help shore it ....
And there is a whole host of ways of doing that. we have a 2,000 mile boarder where things could be fixed, things could be bowl centered, things that you could add whether it s regard to personnel or technology. we can t seem to get anybody in washington to work together to make this happen. listen, i don t think anyone would disagree with you that there need to be changes. i think the disagreement is how you come at it, how you deal with it. and listen, i can understand the frustration. because as i just look at the facts, you look at the you remember the secure, i think it was the secure fence act which was done during the bush administration and continued on through the obama administration. a lot of the stuff was already put there was through those administration. the money has already been appropriated for that. and a lot of this stuff was in the works. all he had to do was say we need to secure the border. shore it up, and through many of the things that we re doing now make ....
I think the disagreement is how you come at it, how you deal with it. and listen, i can understand the frustration. because as i just look at the facts, you look at the you remember the secure, i think it was the secure fence act which was done during the bush administration and continued on through the obama administration. a lot of the stuff was already put there was through those administration. the money has already been appropriated for that. and a lot of this stuff was in the works. all he had to do was say we need to secure the border. shore it up, and through many of the things that we re doing now make it better. instead, he created, made it a wedge issue saying we got to build a wall. we got to do this, as if there wasn t anything there already. well, you know what the strange thing is, i actually believe, and the president before he became president talked to me about this, that he sees some problems with a creative viewpoint. and he could have actually said ....