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any moment now, president biden will address the nation from that podium right there amid concerning questions about potential contagion in the u.s. banking sector. what does that mean for your money? a very good monday morning to you. i'm jim sciutto. >> and i'm erica hill. president biden expected to try to calm fears in a matter of moments when he does make his way to that podium, this amid the failure of two u.s. banks. we're talking about silicon valley bank, which you've heard a lot of this weekend, as well as signature bank. the biden administration is taking emergency action ...

Loosening of those for banks just like this one. i think there's going to be a postmortem look if these banks should have better stress tests, higher capital requirements. that's a conversation to have. but this is just such a unique moment overall. do you want the federal government guaranteeing every investment, every bank deposit? and then you're essentially nationalizing the banks here. so i think it's important to note that in normal times, $250,000 or less, your deposits are guaranteed by the federal government. in this case, they're guaranteeing all of those deposits. that's a really ne...

Frustrated and the accountability portion is crucial. we never see it in washington, d.c. >> marie: that's what's so interesting when you were denied the documents, it was a democratic administration. this is now jeff sessions and doj who is refusing to hand over documents to a republican midi chairman. so i don't know what part of it as ones are sitting the department, you feel like you're part of it, you want to protect their prerogatives which i think is probably natural, but that's what's so fascinating. this is not a democrat versus republican thing. it is jeff sessions in his department ...