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CNN CNN Newsroom With Jim Acosta July 6, 2024

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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CNN CNN Newsroom With Jim Acosta June 4, 2024 21:02:00

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, leaving questions about how exactly uninsured deposits would be made whole. especially at a time when many will be trying to meet payroll systemically. as you noted the washington post reported that the administration is considering options to try to protect all deposits overall. one thing that s also playing out of the course of his bids are being taken to see whether they can find a buyer for this bank. now, throughout the process over the past few days the administration has tried to stress the banking system is resilient. they have pointed to the reforms put in place back in 2008 as a reason for why people should have confidence in the resilience of the banking system but certainly this is something ....

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