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Goes to protect depositors normally only up to $250,000 in the case of these two banks all deposits are protected pretty much all of them. and, no taxpayer money i involved in that cycle and in this case, the fdic i going to have to make a specia assessment to increase the amount of money it has in it fund after so much of it goe out in order to make the depositors of these two banks. i can tell you over the weekend, not all of the banks wante this to happen the community banks are saying basically, why should we hav to pay to bail out, as one might say, these larger banks? that is, that is a bailout in way, but in another way it has nothing to do with taxpaye money, and i think that is the line that the government i trying to draw here. emily, you heard my colleague gary grew back talking about how congressiona ....
But if that does need to get raised, or if that does want t get raised, that will need congressional approval and the house is out of town for the next week. that will require them to come back to washington as for the president, he i wrapping up his weekend, his working weekend in wilmington, he should be expected back a the white house later today. we have no word of any planned remarks or statements from him but we will certainly let yo know as soon as we hea anything from president. gary grew back reporting fro washington, gary i, suspec this is not the last time will be seeing you thi evening. please bring us some news as you have it. joining us now, emily flutter. she is a finance reporter at the new york times emily, i know you have bee working the phones since w spoke last what have you learned? what the regulators were no going to wait and see how th situation played out on monday i was shocked to see tha signature bank has failed. and it seems like it came as a shock to a l ....
Depositors of these two banks. i can tell you over the weekend, not all of the banks wante this to happen the community banks are saying basically, why should we hav to pay to bail out, as one might say, these larger banks? that is, that is a bailout in way, but in another way it has nothing to do with taxpaye money, and i think that is the line that the government i trying to draw here. emily, you heard my colleague gary grew back talking about how congressiona leaders, particularly from california are intimating to secretary ellen that what they really want to see here is the engineering of the sale. how does this move impact possible sale? well, there is very little, there was very little to buy before the fdic made thi ....
Justifies a second economic disaster. the working people of this country feel very, very differently. joining me now from pennsylvania, thomas gift, the director of the center on u.s. politics at the university college london. good to have you with us. good to be with you. so, thomas, this is a working weekend in d.c. democrats forging ahead with a massive spending bill aimed at reducing prescription drug costs, investing in climate change programs. what is the risk, such a large spending bill at a time when there is already record inflation? well, of course, lots of americans are concerned about inflation and according to both the congressional budget office and the penn wharton budget model, the impact of this bill is expected to be about zero on inflation. so i think many americans might be saying to themselves this is the same white house that months ago told us that inflation was ....
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