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loosened the rules, plus how the collapse is turning into another culture war. then, michael cohen testifie in front of a grand jury settling his - refusing to do what it could mean for prosecutors. running mates, turned politica rivals donald trump and mike pence go head to head over january 6th. the wind up to 2024 as the 11t hour gets underway, on thi monday night here we go good evening, once again, i stephanie ruhle. normally i start this progra giving you an overview of th most important stories of th day. but tonight, there s only on story. it is all about banking, money government, and politics it is exactly what we cove here every night joining me to dig into all o it, my nbc colleagues, jak ward, shannon petty. former wall street banke turned journalist, my friend bill cohen,. before we get into it, let s remind our audience of how w got there. silicon valley bank i, the preeminent bank in the valle for tech it s where all the start o stood their business in ....
the trump era banking law that loosened the rules, plus how the collapse is turning into another culture war. then, michael cohen testifie in front of a grand jury settling his - refusing to do what it could mean for prosecutors. running mates, turned politica rivals donald trump and mike pence go head to head over january 6th. the wind up to 2024 as the 11t hour gets underway, on thi monday night here we go good evening, once again, i stephanie ruhle. normally i start this progra giving you an overview of th most important stories of th day. but tonight, there s only on story. it is all about banking, money government, and politics it is exactly what we cove here every night joining me to dig into all o it, my nbc colleagues, jak ward, shannon petty. former wall street banke turned journalist, my friend bill cohen,. before we get into it, let s remind our audience of how w got there. silicon valley bank i, the preeminent bank in the valle for tech it s where all the s ....
Of victims if that s what we want to call them the customers of silicon valle bank were lined up to get thei money out. to sort out their liquidity, t sort out their payroll it was of course people who ar employees of these various start-ups. needing to find out about thei money. i ll tell you stephanie, there were people getting out of herbivores with a laptop open. with the name of their company on a sweat shirt for a journalist it was like cheating you just knew who everybod was. you could look up immediatel how much money they had in the bank the whole thing. you are seeing this parade o people, for whom this bank had been a lifeline. it was a really specific, weir creature it was built for the start o economy. it s built specifically to giv money to companies that traditional bank would never look at because their number are so weird they ve got venture capital, but they don t have a product, they don t really make money it s that kind of bank that wa there to serve their purposes ....
I don t know what else to say. let me just say, stephanie, lot of vcs, great vcs, the step in, were calm, they for groups, there s a lot of them. it s a small group of them tha are constantly, they re either experts, they stopped bein experts on covid the oscars, they don t have an thoughts on. so the decide to weigh in on baking i now they re banking experts. but kara, we can laugh at them, we can call them absurd. they were successful they got exactly what they wanted absolutely. they got what they wanted i don t know they r tweeting this is a - they called mother doing. this is not just a omie this is a strategy you don t want your bank to go down, to keep quiet when you bank is going south. the moment when your bank is gone, and they want everybod ....
Them the customers of silicon valle bank were lined up to get thei money out. to sort out their liquidity, t sort out their payroll it was of course people who ar employees of these various start-ups. needing to find out about thei money. i ll tell you stephanie, there were people getting out of herbivores with a laptop open. with the name of their company on a sweat shirt for a journalist it was like cheating you just knew who everybod was. you could look up immediatel how much money they had in the bank the whole thing. you are seeing this parade o people, for whom this bank had been a lifeline. it was a really specific, weir creature it was built for the start o economy. it s built specifically to giv money to companies that traditional bank would never look at because their number are so weird they ve got venture capital, but they don t have a product, they don t really make money it s that kind of bank that wa there to serve their purposes, ....