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We heard that from jerome powell just jyesterday. it s important to emphasize there s a difference between what s happening with bank stocks and deposits. deposits, according to officials, have stabilized. stocks not so much. well, the concern is these become self-fulfilling prophecies, right, because one thing can spark another thing. that is the concern. i do want to show you something and get your thoughts. in 2008 the banking crisis, 25 banks failed. the total value of those banks, $364 billion. in 2023 the three bank failures so far exceeds that, almost by, well, almost by almost double, $552 billion. different causes to these crises, of course, 2008 was a failure of mortgage-backed securities. this one a really a combination of not predicting or adjusting to higher interest rates. how do when i look at that i think goodness, we re in a similar danger zone. ....
Does that leave us? right. well, the democrats have limited options right now as they re looking around trying to figure out how to sort through the debt limit situation. as you point out, alisyn, they raised it in the past when president trump was president and majority leader chuck schumer mentioned that to us just jyesterday. he said, we all came together in a bipartisan way then. the bottom line is the debt ceiling has to be lifted so the united states does not default. this could cause, as the treasury secretary janet yellen has said, irreparable damage to the domestic economy but also the international economy. there s a lot riding on this. politically and strategically democrats are thinking the best way to do this is to roll it into the continuing resolution, the cr, which is also just the budget, and hope they can get the votes they need. house speaker nancy pelosi told me it is not going in reconciliation, although we heard from leader schumer and he was a little more vague ....
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