Live Breaking News & Updates on Investments Aren T Safe
Stay updated with breaking news from Investments aren t safe. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
responsible completely. welcome to fox fox news live, i m eric shawn. hey, arthel. arthel: hello, everyone, i m arthel neville. new questions today about what led to this e epic collapse. in 48 hours, the go-to bank for tech start-ups and small businesses went belly up. the fdic, which insures bank deposits up to $250,000, says customers will have access to their money by tomorrow morning. here s secretary yellen earlier today. what i do want to do is emphasize that the american banking system is really safe and well capitalized. it s resilient. during the financial crisis, there were investors and owners of systemic large banks that were bailed out. we re not going to do that again. eric: well, is this going to cause a meltdown the on wall street and elsewhere? nate foy is here following other breaking news. reporter: in her remarks this morning, secretary yellen kid the not say how regulators plan to help depositors, only that they will. and she assured that the ....
Cause a meltdown the on wall street and elsewhere? nate foy is here following other breaking news. reporter: in her remarks this morning, secretary yellen kid the not say how regulators plan to help depositors, only that they will. and she assured that the u.s. banking system is, quote, safe and well capitalized. that is certainly not how customers feel at silicon valley bank. the fdic promises up to $250,000 of insured deposits monday morning, but over 95 percent of the bank s deposits were uninsured. if those investments aren t safe, it could lead to at least two big problems. number one, if customers lose faith in smaller and mid-sized banks, expert think it could trigger a bank run trillions of chars in size, way bigger than we saw on thursday when customers took out $42 billion from the bank. number two, this could kill thousands of start-ups and small businesses. many of them won t be able to make payroll week unless they get help. ....