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expected to defend the banking system after his government scrambled to prepare emergency measures to bail out silicon valley bank customers. here comes the president coming up to the podium. >> president biden: before i leave for california, i want to briefly speak about what is happening in silicon valley bank and signature bank. today thanks fought quick action of my administration america will have confidence that the banking system is safe. your deposits will be there when you need them. small businesses across the country that deposit accounts at these banks can breathe easier ...

workers and pay their bills. hard working employees can breathe easier as well. no losses -- this is an important point. no losses will be borne by the taxpayers. >> dana: fox news alert. welcome to a new hour of "america's newsroom," i'm dana perino. >> bill: i'm bill hemmer. >> dana: a great monday morning. >> bill: good morning at home. president biden last hour reassuring americans the banking system is in tact after the second and third largest bank failures in u.s. history in the last couple of days. silicon valley bank in california. new york's signature bank yesterday. >> dan...

---what happened friday when silicon valley bank fell. svb, a top choice for tech start-ups, with more than $2 hundred billion in assets at the time. that makes it the second largest bank failure in american history behind the washington mutual meltdown in 2008. we had a great recession then. the president now keeps saying we're not headed for a recession. a host of companies affected include household names like etsy and fit bit. all deposits at the failed bank will be available today. investors knew the risk and should not be protected. yes, the fdic is up to $250,000. if you inves...

water rescues under way. ginger zee here in new york, rob marciano in california, both tracking it all. in new york city, just in t who drove that home depot truck into several pedestrians, killing them, has just learn h fate. ao news just involving the republican in tdeea lsenarte, mitch mcconn after hiea tsall, hospital, but not going home. mary bruce is live. the criminal investigation involving former president trump. the grand jury here in new york hearing from a key witness today from trump's one-time confidant, lawyer and fixer. and tonight, trump on whether he'll testify....

♪ ♪ it's 10:00 a.m i'm lindsey reiser at msnbc headquarters in new york we're following a lot of breaking news on this busy monday morning, including president biden assuring the country our financial system is safe amid heightened fears of a banking crisis after the collapse of both silicon valley bank and new york-based signature bank >> americans can rest assured that our banking system is safe. your deposits are safe let me also assure you we will not stop at this we'll do whatever is needed. >> the government is taking extraordinary new steps to ensure customers will have ...