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FOXNEWS Your World With Neil Cavuto June 4, 2024 20:41:00

Valley bank and two other banks is a one off or two off or three off depending on your point of view about the severity of the bank collapses. john garamendi from the beautiful state of california has had a chance to hear what those folks are saying and whether this could spread, could get to be what they like to call a contagion. good to have you, congressman. is there any fear of that? do you have a fear 0 that? i do not. i do not. what we have in place is a very solid, very broad program that the federal government has put together. using bank money, that is the banking industry s money, to shore up the two banks that have failed. that also could go to other banks if it were necessary. so we have a situation in place where there is a backstop. no only for the two but for others if necessary. what we re seeing is a panic ....

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CNN CNN Newsroom Live June 4, 2024 06:46:00

Silicon valley bank. the biden administration has announced it will extend a federal backstop to all of the failed bank s deposits. they say customers will have access to all of their money starting monday. this as president biden is vowing to hold those responsible fully accountable. he will speak about the issue in the coming hours. ron brownstein is a cnn senior political analyst and senior editor for the atlantic. jessica levinson is a professor of law at loyal that law school and host of the passing adjustment podcast. they both join me from los angeles. a pleasure to have you with us. hi, rosemary. so let s start with the historic failure of the silicon valley bank. ron, the biden administration moved very quickly to stop a potential banking crisis, assuring depositors they will be able to access funds monday. will this be enough, though? and what challenges lie ahead with this? ....

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CNN CNN This Morning June 4, 2024 11:43:00

Overall in the stock market. but in the banking sector, we ll be watching very, very closely. there is still some unease there. overall. if you re a mid-sized bank or banking with a mid-sized bank, is this going to hurt them? are people less likely to go to go to something like that? your money is insured up to $250,000. lo looks like the government is going to insure that your money is safe. that is something the banks will be facing here. i think the federal backstop means the balance sheets are not the issue for the banks. it s their profitability that will be in question going forward here. okay. that s good advice. everyone is searching for advice right now. consumers will check back in with you it at the top of the 8:00 a.m. hour. the president is going to speak in just moments. in the meantime, joining us is democrat senator tammy baldwin. she was on the call with the president for the biden administration, i should say, about the silicon valley bank ....

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FOXNEWS FOX Friends First June 4, 2024 09:46:00

Bailout, fdic insures deposits under $250,000, the money above should not be answered, yet individuals with accounts above are not losing any money so where is that money coming from? cheryl: great question. that is the million dollar question, there is $25 billion set aside. there is big debate, it is being called a backstop. silicon valley bank is not necessarily insolvent, but they need to be unwound and i hate that term, we used it in 2008, had to unwind aig. silicon valley bank has assets there, they couldn t access them, they were putting money into mortgage-backed securities, ....

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CNN CNN This Morning June 4, 2024 11:01:00

The federal government is now stepping in to calm financial panic over the failure of two u.s. banks. the biden administration announcing it will extend a federal backstop to all the banks deposits. treasury officials push back on the idea this was a bailout saying the burden is not borne by the taxpayers. we ll hear from president biden moments from now. water everywhere, causing chaos across central california. warnings of intense sustained flooding in the days ahead. it s unimaginable. folks, we are not done yet. former vice president mike pence telling a crowd in washington that history will judge donald trump for his actions on january 6. probably not a message that will be terribly popular with ....

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