Expert On Management Issues News Today : Breaking News, Live Updates & Top Stories | Vimarsana

hello, everyone. welcome to "cnn newsroom." >> and i'm john berman. victor is off this froop. and we begin with president biden's dramatic overnight move to dparnguarantee the money is e bank. this comes after the failure of two banks. today the president announced regulators are taking them over, but unlike what was seen in 2008 the u.s. will cover only bank customers not bank investors. >> all customers who had deposits in these banks can rest assured that we protect it, and they'll have access to their money as of today. that includes small businesses across the country that bank ...

Cash before publicly lining up the financial support they needed to get through this storm. this employee said that was absolutely idiotic, they were being very transparent. it's the exact opposite of what you would normally see in a scandal. the argument is this set the stage where a us customers ended up pulling out $42 billion on thursday alone in a classic run on the bank. that is a huge amount of money almost a quarter of the bank's total deposits and by the end of that day, by the close of business the bank had a negative cash balance. they had run out of money. i talked to a yale profes...