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we begin with a wide-ranging attempt to restore americans confidence in the u.s. economy, after weeks of troubling financial indicators. treasury secretary janet yellen spoke under oath today to answer questions about the controversial actions she and the federal government took to rescue silicon valley bank. our banking system is sound and that americans can feel confident that their deposits will be there when they need them. this week s actions demonstrate our resolute commit to ensure that our financial system remains strong. yellen also said that no taxpayer money is being used to reimburse those depositors. more on her testimony in just a moment. but first, let s check object markets right now. stocks are surging on word that major banks are in talks to rescue ailing first republic bank. cnn s matt egan is here with us. so talk about this potential rescue of first republic bank. yeah, bianna and victor, over the weekend, we had this government-led rescue. ....
Could be announced as soon as today. clearly, this would be a very significant development, as u.s. officials and now the industry, they try the restore confidence. everyone is waiting for the next shoe to drop here. and everyone is kind of wondering what other banks fit the profile of silicon valley bank. namely, a lot of uninsured deposits. like first republic fits that description. that s why its stock has been plunging in recent days. but now if you have a rescue led by the biggest banks, including jpmorgan, that would be a huge boost to confidence. let me ask you about this hearing today with the treasury secretary. a lot of frustrations and some fears expressed by senators. what did you hear? well, obviously, secretary yellen doing her best to try to get everyone to calm down, try to restore some confidence in the system. there was an interesting back and forth. senator mark warner called out some of the venture capital firms that had been advising their tech start-ups to pul ....
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