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CNN CNN This Morning July 6, 2024

government is stepping in to calm the failure two of u.s. banks. everyone that had money in sign silicon valley bank and signature bank will have money. the president is going to address the public about it. oscars, stealing the show, best picturor, best actress, best supporting actor and best supporting actress. also overnight, saber-rattling once against from north korea with a missile test launched from a submarine. the u.s. and south korea begin joint military exercises. you know this name. michael cohen. set to testify in a case that could lead to criminal charges against donald trump. cohen expected to appear before a mat nhattan grand jury. he s been making hush payments to stormy daniels. and get this march madness your march madness bracket is set for the ncaa tournament. the one seeded, kansas, purdue, alabama, something like that never heard of them. cnn this morning starts right now. i can tell you, i was in washington this weekend. the colla ....

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CNN CNN Newsroom Live July 6, 2024

ahead of the trading day on wall street, the u.s. government steps in to protect a failed bank, promising depositors they won t lose a penny. one film won everything, everywhere, all at once on this year s oscar awards. already-flooded parts of california bracing for yet another powerful storm. this is cnn newsroom with rosemary church. thanks for joining us. we begin in the united states where the biden administration is stepping in to contain the fallout from the sudden collapse of silicon valley bank. authorities say customers will have access to all their money starting monday morning. the president also promised to hold those responsible for the bank s failure fully accountable. he will speak about the issue in the coming hours. regulators also shot down another regional institution, signature bank, fearing it was also on the brink of collapse. cnn s arlette saenz has more. reporter: the biden administration took extraordinary steps sunday to ensure t ....

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CNN CNN Newsroom July 6, 2024

any moment now, president biden will address the nation from that podium right there amid concerning questions about potential contagion in the u.s. banking sector. what does that mean for your money? a very good monday morning to you. i m jim sciutto. and i m erica hill. president biden expected to try to calm fears in a matter of moments when he does make his way to that podium, this amid the failure of two u.s. banks. we re talking about silicon valley bank, which you ve heard a lot of this weekend, as well as signature bank. the biden administration is taking emergency action here and there is the president. let s listen in. for california. i want to briefly speak about what s happening to silicon valley bank and signature bank. today, thanks to the quick action of my administration over the past few days, americans can have confidence that the banking system is safe. your deposits will be there when you need them. small businesses across the country that depo ....

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CNN CNN Newsroom July 6, 2024

hello, i m briana keilar in washington. right now wall street and main street are wondering if more dominoes will fall or if the biden administration s drastic action following the second largest bank failure in u.s. history will stave off a broader financial crisis. this morning president biden assured americans that their money is safe after the federal government takeover of silicon valley bank and the smaller signature bank. svb may be a new name for many people, but it was a go-to bang for the tech sector. high-pro-final companies like roku, etsy, and fitbit were clients. some had hundreds of millions of dollars tied up with svb. all those deposits are guaranteeduncle sam. all customers who had deposits in these banks can reassured they ll be protected, and they ll have access to their money as of today. no losses will be born by the taxpayers. instead, the money will come from the fees that banks pay into the deposit insurance fund. the management of these banks ....

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CNN CNN Newsroom July 6, 2024

top of the hour now on cnn newsroom. i m john berman. this morning president biden reassuring americans that the u.s. banking system remains safe. this despite the failure of two significant banks within 48 hours. silicon valley bank and signature bank have now been taken over by federal regulators. all customers who had deposits in these banks can rest assured. rest assured they ll be protected and they ll have access to their money as of today. that includes small businesses across the country that bank there and need to make payroll, pay their bills and stay open for business. no losses this is an important point. no losses will be borne by the taxpayers. the president emphasized the customers will be fully protected while the bank s managers and investors will be held accountable. he also outlined the emergency measures his administration took to protect the bank s customers. cnn s priscilla alvarez is with us. look, a lot of this is trying to ease the an ....

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