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Transcripts For CNN CNN Newsroom With Jim Acosta 20240706

of the collapse of silicon valley bank. treasury secretary janet yellin said she has been speaking with financial regulators the treasury department is also been hearing from depositors themselves bid for president biden gavin newsom about efforts regarding this california-based bank. but earlier today, one thing janet yellin did completely rule out is there be any large-scale bailout for this bank and the weight that was seen back in the 2008 financial crisis. let me be clear that during the financial crisis, there were investors and owners of systemic large banks that were bailed out. we are certainly not looking. the reforms that have been put in place means that we are not going to do that again. but we are concerned about depositors and are focused on trying to meet their needs. the fate of those depositors on the money that has been held at this bank is really one of the looming questions regarding this whole situation. the fdic only ensures up to $250,000, le ....

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Transcripts for CNN CNN Newsroom With Jim Acosta 20240604 21:04:00

That are depending on it for their living. i do not think any of us are particularly concerned about what happens with the bank executives, or even investors. we do want to make sure people who made deposits are protected up to 250,000 bird beyond that at the risk of contagion runs on other banks is mitigated. cnn joins me now put elaine out when you hearing from lawmakers? well jim, as a shift to said the cow for delegation was brief this marred by the treasury department per think something really interesting i know came up on the call from people i spoke with on the call is that the republicans, democrats and the treasury department are aligned on not wanting the government to bail out the silicon valley bank. and i do think as he also said where the main concerns as well as making sure people can meet payroll part mixture depositors are taken care. i am told the treasury department s of the representative sat on the call ....

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