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exactly. what happened was during this low rate environment for the last ten years, everyone balloon their balance sheets. but they acted more like an old time savings and loan bank as opposed to a national, important bank. so what they did is they took their deposits, and they didn t pa pay you and i accurately. they should have paid us, you know, 4% instead of 25 basis points. but then they went out and bought assetted assets, long-term mortgages, real estate, so they had a mismatch to the take advantage of this higher rate. but then all of a sudden the fed started raising rate, and they started having incredible losses. and people like you and i started getting uncomfortable having our deposits at these type of banks that had huge losses and weren t well risk-managed. pete: and you have a run. real quick, does this impact the broader economy? it doesn t because the larger banks are incredibly well
that is the worst case scenario. for the moment the question is how far these bailouts go. martha: let s let bob answer that. you said it could go further. deposits are safe. this was not a bail out in the sense like 2008 where you protected the stockholder, protected the bond holders. this was clearly they used different tools. i think we should be clear what happened with these banks. it was right in front of us, a lot of us didn t just look. when their capital market goes from worth $40 billion to $13 billion and their balance sheet goes from $100 billion to $200 billion, they stretch to make profits. so they went out on the curve and a rising rate environment. when you go out on the curve of mortgages, two things happen. the duration lengthens and the prices go down and you lose money. martha: the question is what to do now and why hasn t the government sold the bank yet?
do what is right, mr. presence step forward and don t get legal speak, just tell it like it is and you know what is going on and tell us when the intelligence information is going to be made available. in 2020, then attorney general bill bartlett asked charges against abu agela masud the 22nd anniversary. that there be no mistake, no matter time or distance. the united states entered scottish partners from pursuing justice and to this case. and john bar was also attorney general in 18901, charged against the first two men were announced in this clearly is something that is going on for many years to try to bring justice to these families and something in a politically rate environment, something that began during the trump administration and finished during the biden administration, to get this man here, on american soil although
they are selling their business in france essentially at a loss, and also, as happened when interest rates go up, you have a expected credit loss increasing, so they have had to make further provisions for that and really that would be expected in a rising interest rate environment. 50 expected in a rising interest rate environment. expected in a rising interest rate environment. so banks are auoin rate environment. so banks are going to do rate environment. so banks are going to do well rate environment. so banks are going to do well in rate environment. so banks are going to do well in this - rate environment. so banks are going to do well in this rising i going to do well in this rising interest rate environment as you say, but it is likely the new prime minister and the chancellor may get some profits from that, sort of increased taxes on banks s profits. yes, it looks that taxes on banks s profits. yes, it looks that way. taxes on banks s profits. yes, it looks that way