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CNN CNN Newsroom Live July 6, 2024

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 at this year s oscar awards. plus already-flooded parts of california bracing for yet another powerful storm. live from cnn center, this is cnn newsroom with rosemary church. good to have you with us. we begin here 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 t ....

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CNN CNN Newsroom Live June 4, 2024 06:46:00

Silicon valley bank. the biden administration has announced it will extend a federal backstop to all of the failed bank s deposits. they say customers will have access to all of their money starting monday. this as president biden is vowing to hold those responsible fully accountable. he will speak about the issue in the coming hours. ron brownstein is a cnn senior political analyst and senior editor for the atlantic. jessica levinson is a professor of law at loyal that law school and host of the passing adjustment podcast. they both join me from los angeles. a pleasure to have you with us. hi, rosemary. so let s start with the historic failure of the silicon valley bank. ron, the biden administration moved very quickly to stop a potential banking crisis, assuring depositors they will be able to access funds monday. will this be enough, though? and what challenges lie ahead with this? ....

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