1 00:00:01,360 --> 00:00:06,240 Speaker 1: There was something massive that happened in our country, and 2 00:00:06,480 --> 00:00:10,119 Speaker 1: you may not even know about it because the media 3 00:00:10,320 --> 00:00:13,240 Speaker 1: doesn't want you to know what just happened in this 4 00:00:13,360 --> 00:00:16,000 Speaker 1: country because then you might actually start to connect the 5 00:00:16,040 --> 00:00:19,000 Speaker 1: dots and blame the Democrats who are in power and 6 00:00:19,120 --> 00:00:22,200 Speaker 1: Joe Biden for what has just happened. One of the 7 00:00:22,200 --> 00:00:28,360 Speaker 1: headlines reads this way may day another bank collapse, the 8 00:00:28,440 --> 00:00:32,960 Speaker 1: second biggest in United States history. Now if you didn't 9 00:00:33,000 --> 00:00:36,040 Speaker 1: know that the second biggest bank collapse just happened in 10 00:00:36,120 --> 00:00:40,239 Speaker 1: United States history that is designed on purpose. Did the 11 00:00:40,280 --> 00:00:44,519 Speaker 1: President come out and have a big press conference about it. No, Instead, 12 00:00:44,640 --> 00:00:49,000 Speaker 1: the government did exactly what you would expect. First Republic 13 00:00:49,159 --> 00:00:52,559 Speaker 1: was seized by the US government and sold to JP 14 00:00:52,840 --> 00:00:57,280 Speaker 1: Morgan Chase, the largest bank in the country has now 15 00:00:57,360 --> 00:01:02,600 Speaker 1: gotten even bigger, which revives the idea that a bank, 16 00:01:03,160 --> 00:01:05,319 Speaker 1: and this is something we swore we'd never allow to 17 00:01:05,360 --> 00:01:08,520 Speaker 1: happen after the two thousand and eight collapse, is too 18 00:01:08,520 --> 00:01:13,559 Speaker 1: big to fail. Biden Declar's system safe and sound. He didn't, 19 00:01:13,600 --> 00:01:15,720 Speaker 1: but you know, they decided to tell you that from 20 00:01:15,760 --> 00:01:19,640 Speaker 1: the podium at the White House answering a question. And 21 00:01:19,720 --> 00:01:24,040 Speaker 1: now the FED is examining the banking woes. Small businesses 22 00:01:24,080 --> 00:01:28,319 Speaker 1: are already feeling the crunch, and small banks are really 23 00:01:28,360 --> 00:01:32,520 Speaker 1: feeling the crunch now because so many Americans have decided 24 00:01:33,080 --> 00:01:35,520 Speaker 1: that maybe they should put their money in a bank 25 00:01:35,560 --> 00:01:39,400 Speaker 1: that is quote too big to fail to protect it 26 00:01:39,440 --> 00:01:41,679 Speaker 1: instead of a community bank that may not get the 27 00:01:41,760 --> 00:01:46,920 Speaker 1: political bailouts that these other banks are getting. Now, let's 28 00:01:46,959 --> 00:01:51,560 Speaker 1: go to the Hill Newspaper. The Hill Newspaper under Banking 29 00:01:51,600 --> 00:02:00,360 Speaker 1: and Financial Institutions in their online reading material, not wanting 30 00:02:00,400 --> 00:02:04,200 Speaker 1: to necessarily highlight this story because it clearly lays the 31 00:02:04,240 --> 00:02:08,400 Speaker 1: footsteps of the White House. First Republic Bank collapse spurs 32 00:02:08,520 --> 00:02:12,280 Speaker 1: fears for banking system in a broader economy. They write, 33 00:02:12,720 --> 00:02:15,640 Speaker 1: the demise of First Republic Bank is raising questions about 34 00:02:15,639 --> 00:02:17,840 Speaker 1: the strength of the US banking system and the broader 35 00:02:17,960 --> 00:02:21,600 Speaker 1: economy that relies on it. See, they're not wanting to 36 00:02:21,800 --> 00:02:25,160 Speaker 1: have this conversation in public. Will bury this under the 37 00:02:25,280 --> 00:02:29,320 Speaker 1: Banking and Financial Institutions tab on our website, and we'll 38 00:02:29,360 --> 00:02:31,560 Speaker 1: be able to say, hey, we told you this story 39 00:02:32,120 --> 00:02:36,080 Speaker 1: that the economy is in trouble. Monday's shut down mark 40 00:02:36,160 --> 00:02:41,840 Speaker 1: the nation's second largest bank failure. First Republic Bank had 41 00:02:41,880 --> 00:02:45,240 Speaker 1: nearly two hundred and thirty billion in assets last month, 42 00:02:45,880 --> 00:02:49,919 Speaker 1: eclipsing the Silicon Valley bank collapse, which also just happened. 43 00:02:50,639 --> 00:02:53,600 Speaker 1: Three of the four largest bank failures in the US 44 00:02:53,680 --> 00:02:55,680 Speaker 1: history have taken place over the last two months. Let 45 00:02:55,680 --> 00:02:59,040 Speaker 1: me say that again, Three of the four largest bank 46 00:02:59,080 --> 00:03:01,520 Speaker 1: failures in the history street the United States of America 47 00:03:01,840 --> 00:03:04,320 Speaker 1: have taken place over the last two months. Now, am 48 00:03:04,360 --> 00:03:07,200 Speaker 1: I running around like chicken little right now? No, I'm 49 00:03:07,320 --> 00:03:10,480 Speaker 1: just showing you how big this news is and then 50 00:03:10,600 --> 00:03:13,800 Speaker 1: comparing it to the idea that you probably didn't even 51 00:03:13,880 --> 00:03:17,280 Speaker 1: know that two of the three or three excuse me, 52 00:03:17,440 --> 00:03:21,880 Speaker 1: three of the four largest bank failures in US history 53 00:03:22,280 --> 00:03:24,200 Speaker 1: have happened in the United States of America over the 54 00:03:24,280 --> 00:03:28,400 Speaker 1: last two months. Let's hit pause here for a second, 55 00:03:28,440 --> 00:03:32,079 Speaker 1: and let's go back to twenty sixteen, when Donald Trump 56 00:03:32,080 --> 00:03:34,920 Speaker 1: became the President of the United States of America. If 57 00:03:35,040 --> 00:03:39,440 Speaker 1: two years later in his presidency, in twenty eighteen, three 58 00:03:39,720 --> 00:03:43,000 Speaker 1: of the four largest bank failures in US history had 59 00:03:43,040 --> 00:03:46,160 Speaker 1: taken place, how much time do you think the media 60 00:03:46,480 --> 00:03:50,320 Speaker 1: would have committed to breaking news on that story. 61 00:03:51,280 --> 00:03:53,320 Speaker 2: They would have gone wall to wall. They would have 62 00:03:53,360 --> 00:03:55,760 Speaker 2: had a massive wall Street right. 63 00:03:55,840 --> 00:03:58,000 Speaker 1: The numbers up there on Wall Street of the dows 64 00:03:58,080 --> 00:04:01,800 Speaker 1: down two hundred, right is look at the and if 65 00:04:01,800 --> 00:04:03,840 Speaker 1: that wasn't working out for them on a certain day, 66 00:04:03,880 --> 00:04:06,040 Speaker 1: they would have then put up the actual stock of 67 00:04:07,360 --> 00:04:10,320 Speaker 1: the banks that were in freefall to show, oh, this 68 00:04:10,520 --> 00:04:12,200 Speaker 1: is really bad for the kind of look at what 69 00:04:12,280 --> 00:04:15,280 Speaker 1: Donald Trump has done. Three of the forge that this 70 00:04:15,320 --> 00:04:17,560 Speaker 1: will be his legacy, They would say, right, three of 71 00:04:17,560 --> 00:04:20,240 Speaker 1: the four largest bank failures in US history have happened 72 00:04:20,320 --> 00:04:23,240 Speaker 1: under Donald Trump's watch. This is something that will be 73 00:04:23,320 --> 00:04:27,760 Speaker 1: remembered forever. Then they would do interviews with business owners, 74 00:04:27,760 --> 00:04:31,599 Speaker 1: small business owners, and families and single mothers talking about 75 00:04:31,600 --> 00:04:34,680 Speaker 1: their stress right that they're having right now with these 76 00:04:34,680 --> 00:04:37,520 Speaker 1: bank failures. They'd find the guy walking on the street going, 77 00:04:37,640 --> 00:04:39,600 Speaker 1: I just you know what I don't know about my bank. 78 00:04:39,640 --> 00:04:42,760 Speaker 1: I'm worried I'm gonna have no money. I'm afraid that 79 00:04:42,880 --> 00:04:46,840 Speaker 1: I'm not gonna have any cash. Did you also know, 80 00:04:46,880 --> 00:04:48,600 Speaker 1: by the way, that while this was happening, there were 81 00:04:48,640 --> 00:04:50,720 Speaker 1: actual runs on the bank, like old school runs in 82 00:04:50,760 --> 00:04:53,360 Speaker 1: the bank. Did you know that the first republic bank 83 00:04:53,360 --> 00:04:56,039 Speaker 1: in the Silicon Valley bank had people wrapped around the 84 00:04:56,040 --> 00:04:58,680 Speaker 1: block with runs of the bank pulling their assets out 85 00:04:58,720 --> 00:05:01,520 Speaker 1: of the bank. And most people have online banking now, 86 00:05:01,600 --> 00:05:04,080 Speaker 1: so it's easier to pull your money from a bank. 87 00:05:05,839 --> 00:05:09,000 Speaker 1: Did you know that there was, like we're talking genuine 88 00:05:09,080 --> 00:05:11,760 Speaker 1: runs on the bank, just like we saw in the seventies, 89 00:05:11,960 --> 00:05:13,080 Speaker 1: just like we saw during. 90 00:05:12,880 --> 00:05:15,800 Speaker 2: The Great Depression? There were do you knowics the media 91 00:05:15,839 --> 00:05:17,040 Speaker 2: didn't show you those pictures. 92 00:05:17,160 --> 00:05:19,919 Speaker 1: Nah, why would we do that because that would actually 93 00:05:20,160 --> 00:05:22,880 Speaker 1: connect dots to Joe Biden and the Democrats. 94 00:05:22,920 --> 00:05:24,440 Speaker 2: So we're not going to tell you that story. 95 00:05:24,480 --> 00:05:27,480 Speaker 1: But if you went back to twenty eighteen and there 96 00:05:27,480 --> 00:05:29,159 Speaker 1: were runs on the banks, don't you think that they 97 00:05:29,200 --> 00:05:31,080 Speaker 1: would go wall to wall coverage. Don't you think you'd 98 00:05:31,080 --> 00:05:35,000 Speaker 1: have a reporter from CNN or Fox or our, MSNBC 99 00:05:35,279 --> 00:05:37,720 Speaker 1: or any of these other outlets that would be walking 100 00:05:37,760 --> 00:05:39,640 Speaker 1: down the street by the people on the run of 101 00:05:39,680 --> 00:05:41,240 Speaker 1: the bank, and they'd be like, Hey, come here, ma'am, 102 00:05:41,600 --> 00:05:43,040 Speaker 1: how concerned are You're not gonna be able to get 103 00:05:43,040 --> 00:05:44,080 Speaker 1: money out of your bankcount today? 104 00:05:44,080 --> 00:05:44,599 Speaker 2: I'm terrified. 105 00:05:44,640 --> 00:05:46,560 Speaker 1: Oh my gosh, all right, let's move on down the road. Here, 106 00:05:46,760 --> 00:05:49,200 Speaker 1: Hi mam, you're here with your children today? Why are 107 00:05:49,200 --> 00:05:49,480 Speaker 1: you here? 108 00:05:49,520 --> 00:05:49,640 Speaker 3: Oh? 109 00:05:49,680 --> 00:05:51,520 Speaker 1: I can't I need money. I can't get money my 110 00:05:51,560 --> 00:05:53,919 Speaker 1: bank's collapse. I'm terrified. And then they would look at 111 00:05:53,960 --> 00:05:56,920 Speaker 1: you on camera and they'd say, this is the United 112 00:05:56,920 --> 00:05:58,599 Speaker 1: States of America under Donald J. 113 00:05:58,800 --> 00:05:59,200 Speaker 2: Trump. 114 00:06:00,000 --> 00:06:02,920 Speaker 1: Donald Trump isn't here with these people feeling their fears 115 00:06:02,920 --> 00:06:06,000 Speaker 1: and the bigger concerns over what's happening in our economy, 116 00:06:06,000 --> 00:06:08,080 Speaker 1: because this isn't just about a bankfow this is also 117 00:06:08,080 --> 00:06:10,560 Speaker 1: about the economy. And they would connect those dots. But 118 00:06:10,600 --> 00:06:15,080 Speaker 1: have they done those types of interviews? Hell no, Why 119 00:06:15,120 --> 00:06:18,760 Speaker 1: would you do that type of interview right now? The 120 00:06:18,800 --> 00:06:22,719 Speaker 1: Federal Deposit Insurance Corporation, knowns the FDIC, on Monday took 121 00:06:22,760 --> 00:06:26,760 Speaker 1: control Ce's, the San Francisco based regional bank, and brokeer 122 00:06:26,800 --> 00:06:28,400 Speaker 1: to sale to JP Morgan Chase. 123 00:06:29,400 --> 00:06:30,120 Speaker 2: Why do they do it? 124 00:06:30,160 --> 00:06:34,320 Speaker 1: The deal will protect deposits, likely wipe out shareholders, and 125 00:06:34,400 --> 00:06:37,960 Speaker 1: make the nation's largest bank even bigger. So now is 126 00:06:38,080 --> 00:06:41,640 Speaker 1: JP Morgan in an even better position by doing this deal? Yeah, 127 00:06:41,640 --> 00:06:47,359 Speaker 1: because now they are officially too big to fail. JP 128 00:06:47,480 --> 00:06:52,600 Speaker 1: Morgan Chase is the nation's largest bank ever. First Republic's 129 00:06:52,640 --> 00:06:55,400 Speaker 1: fate was set when the bank revealed it had lost 130 00:06:55,440 --> 00:07:00,400 Speaker 1: one hundred billion dollars in deposits after Silicon Valley banks 131 00:07:00,400 --> 00:07:04,240 Speaker 1: collapse led to a panic among wealthy clients. It's stock 132 00:07:04,480 --> 00:07:07,640 Speaker 1: plummeted seventy five percent last week alone. Now, if that 133 00:07:07,800 --> 00:07:09,640 Speaker 1: was happening, all of this would have been playing out 134 00:07:09,640 --> 00:07:11,840 Speaker 1: in real time. It would have been the lead story 135 00:07:11,840 --> 00:07:15,400 Speaker 1: on ABCNBCCBS in the nightly news. Do you want to 136 00:07:15,440 --> 00:07:18,000 Speaker 1: know right now, I'm going to do this in real 137 00:07:18,040 --> 00:07:20,840 Speaker 1: time because i just want you to understand. I'm going 138 00:07:20,920 --> 00:07:24,520 Speaker 1: to go to cbsnews dot com. If you go to 139 00:07:24,640 --> 00:07:32,960 Speaker 1: CBS News right now, their their website. Let's see, this 140 00:07:33,040 --> 00:07:36,720 Speaker 1: is real time, all right. They say it's breaking CBS News, 141 00:07:36,760 --> 00:07:37,920 Speaker 1: twenty four hour breaking news. 142 00:07:37,960 --> 00:07:38,560 Speaker 2: That's how they say. 143 00:07:38,600 --> 00:07:42,160 Speaker 1: That's how they describe themselves, all right, Latest news Hollywood. 144 00:07:42,200 --> 00:07:44,360 Speaker 1: This is their headline, their biggest headline on their pages. 145 00:07:44,400 --> 00:07:47,680 Speaker 1: I'm doing this in real time. Hollywood writers go on 146 00:07:47,840 --> 00:07:53,040 Speaker 1: strike over fair pay in streaming era, meaning streaming content. 147 00:07:53,440 --> 00:07:57,120 Speaker 1: These walkouts have often been linkedy. At nineteen eighty eight 148 00:07:57,240 --> 00:07:59,760 Speaker 1: writers Guild strike last one hundred and fifty three days. 149 00:08:00,080 --> 00:08:02,120 Speaker 1: Last one went for one hundred days starting in seven 150 00:08:02,160 --> 00:08:04,880 Speaker 1: and ending eight. They have a picture of the Writers' 151 00:08:04,880 --> 00:08:07,080 Speaker 1: Guild of America on strike. This is what they're saying. 152 00:08:07,080 --> 00:08:07,440 Speaker 2: You want to know. 153 00:08:07,440 --> 00:08:11,239 Speaker 1: It's number two on their page twenty twenty three Tony Awards. 154 00:08:11,280 --> 00:08:16,680 Speaker 1: Here are the nominees and six major categories. Gordon Lightfoot 155 00:08:16,960 --> 00:08:20,560 Speaker 1: wreck of the Edmund Fitzgerald Singer dies at eighty four 156 00:08:20,600 --> 00:08:24,400 Speaker 1: as their next headline, drug cartel lieutenant nicknamed the Goat 157 00:08:24,480 --> 00:08:28,640 Speaker 1: arrested near the Texas border. Janet Yellen warrens us could 158 00:08:28,680 --> 00:08:30,760 Speaker 1: default on debt as early as June. Now why are 159 00:08:30,760 --> 00:08:33,520 Speaker 1: they saying that? Because they're trying to force the Republicans 160 00:08:33,559 --> 00:08:36,560 Speaker 1: into a bad deal just so you know, to raise 161 00:08:36,600 --> 00:08:38,160 Speaker 1: the debt ceiling. That's the only reason why they're talking 162 00:08:38,200 --> 00:08:40,280 Speaker 1: about that one. Still nothing about the three of the 163 00:08:40,320 --> 00:08:42,680 Speaker 1: four biggest banks failing in this country. 164 00:08:44,040 --> 00:08:46,280 Speaker 2: American climber dies on Mount Everest. 165 00:08:46,360 --> 00:08:50,840 Speaker 1: Expedition organizers say Bob Lee died from three stab wounds. 166 00:08:50,880 --> 00:08:54,280 Speaker 1: Medical examiner says that is their top headlines below that 167 00:08:54,640 --> 00:08:57,439 Speaker 1: bride killed, groom injured when alleged drunk driver slams in 168 00:08:57,480 --> 00:09:00,800 Speaker 1: the golf cart. Missing team among likely seven people found 169 00:09:00,800 --> 00:09:06,160 Speaker 1: dead in Oklahoma. Authorities say, then more top stories. Okay, well, 170 00:09:06,200 --> 00:09:08,040 Speaker 1: surely the banking is going to be in this part. 171 00:09:08,640 --> 00:09:13,960 Speaker 1: One Ukrainian couple narrow escape from a Russian strike. Metgala 172 00:09:14,040 --> 00:09:18,000 Speaker 1: twenty twenty three. Look see photos of show stopping red carpet. 173 00:09:18,280 --> 00:09:21,679 Speaker 1: Chinese embark on a post COVID spring break travel bonanza. 174 00:09:21,800 --> 00:09:26,680 Speaker 1: Surgeon General declares loneliness an epidemic. Oklahoma governor signs gender 175 00:09:26,720 --> 00:09:30,959 Speaker 1: affirming careband for kids. Oprah chooses The Covenant of Water 176 00:09:31,000 --> 00:09:35,160 Speaker 1: as new book club pick. Tennis star Serena Williams, supermodel 177 00:09:35,880 --> 00:09:41,319 Speaker 1: Carly Krakloss revealed baby bumps at the met Gala. Hair 178 00:09:41,400 --> 00:09:45,520 Speaker 1: found on tape wrapping boy's body match Moms. DNA analysis 179 00:09:45,559 --> 00:09:49,160 Speaker 1: says at least six dead after dust storm causes massive 180 00:09:49,200 --> 00:09:52,880 Speaker 1: pile up on Illinois Highway. I just went and scrolled 181 00:09:53,360 --> 00:09:58,160 Speaker 1: through all of these at cbsnews dot com. They aren't 182 00:09:58,200 --> 00:10:03,960 Speaker 1: even telling you that a bank has collapsed. Ahead of this, 183 00:10:04,080 --> 00:10:09,400 Speaker 1: they have a Soudan Health Issue headline freshwater fish contaminated 184 00:10:09,440 --> 00:10:15,640 Speaker 1: with pfas Air Force Colonel miraculous landing celebrated Eye on 185 00:10:15,720 --> 00:10:21,640 Speaker 1: America addressing homelessness. Still not a single word about the banks, 186 00:10:23,760 --> 00:10:27,160 Speaker 1: the last ones on their page. Private flying Flying Boom 187 00:10:27,240 --> 00:10:30,359 Speaker 1: comes at a cost to the public. Critics say Wisconsin 188 00:10:30,360 --> 00:10:33,200 Speaker 1: bill would allow fourteen year olds to serve alcohol King 189 00:10:33,320 --> 00:10:35,480 Speaker 1: Charles the third net Worth and where is wealth comes 190 00:10:35,480 --> 00:10:37,800 Speaker 1: from New York City new tool to stop car thieves 191 00:10:38,080 --> 00:10:41,480 Speaker 1: the wareness items passengers lead behind in ubers. 192 00:10:42,760 --> 00:10:43,199 Speaker 2: That's it. 193 00:10:43,720 --> 00:10:47,880 Speaker 1: There's your Cbsnews dot com. Not a damn word about 194 00:10:47,880 --> 00:10:50,440 Speaker 1: three of the four biggest banks in America failing in 195 00:10:50,480 --> 00:10:54,080 Speaker 1: the last couple months under Biden. All right, before I 196 00:10:54,080 --> 00:10:55,599 Speaker 1: get into more of that, I want to talk to 197 00:10:55,640 --> 00:10:59,840 Speaker 1: you about Patriot Mobile. 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They're one hundred 213 00:11:55,880 --> 00:12:00,160 Speaker 1: percent US based customer service team makes switching easy and 214 00:12:00,200 --> 00:12:02,160 Speaker 1: you can keep your same cell phone and your same 215 00:12:02,240 --> 00:12:06,800 Speaker 1: cell phone number. Just go to Patriotmobile dot com slash ferguson, 216 00:12:07,320 --> 00:12:12,320 Speaker 1: Patriot Mobile dot com slash ferguson, or call them eight 217 00:12:12,400 --> 00:12:16,480 Speaker 1: seven eight Patriot. That's eight seven eight Patriot or Patriotmobile 218 00:12:16,520 --> 00:12:20,080 Speaker 1: dot com slash ferguson. Get free activation today with offer 219 00:12:20,160 --> 00:12:25,079 Speaker 1: code Ferguson. So let's go back to the big headline. 220 00:12:26,440 --> 00:12:30,440 Speaker 1: The headline that should be being reported on is the 221 00:12:30,520 --> 00:12:32,880 Speaker 1: fact that three of the four largest bank failures in 222 00:12:32,880 --> 00:12:35,360 Speaker 1: the United States of America's history have taken place over 223 00:12:35,360 --> 00:12:39,360 Speaker 1: the last two months under Joe Biden. Now, I just 224 00:12:39,400 --> 00:12:42,360 Speaker 1: gave you the headlines a moment ago from CBS, and 225 00:12:42,400 --> 00:12:46,640 Speaker 1: you may say, well, Ben, CBS maybe just got it wrong. Okay, 226 00:12:47,400 --> 00:12:49,000 Speaker 1: I'm going to go in real time right now to 227 00:12:49,080 --> 00:12:53,600 Speaker 1: NBC News's headlines. You just had the second largest bank 228 00:12:53,640 --> 00:12:57,040 Speaker 1: failure in history, the government seizing that bank and then 229 00:12:57,320 --> 00:13:00,240 Speaker 1: forcing a sale to JP Morgan Chase, which it now 230 00:13:00,240 --> 00:13:01,559 Speaker 1: becomes even bigger bank. 231 00:13:01,880 --> 00:13:03,520 Speaker 2: That is quote too big to fail. 232 00:13:03,920 --> 00:13:06,880 Speaker 1: And by the way, JP Morgan Chase is extremely liberal 233 00:13:06,920 --> 00:13:11,120 Speaker 1: bank with woke ideologies that even try to stop and 234 00:13:11,440 --> 00:13:15,440 Speaker 1: monitor transactions of people that were buying firearms. They have 235 00:13:15,520 --> 00:13:18,920 Speaker 1: since quote abandoned that were being told. But let's go 236 00:13:18,960 --> 00:13:22,160 Speaker 1: to NBC News and their website nbcnews dot com, and 237 00:13:22,200 --> 00:13:24,240 Speaker 1: let's see if they're going to tell you about three 238 00:13:24,240 --> 00:13:28,080 Speaker 1: of the four biggest banks failing in this country in 239 00:13:28,120 --> 00:13:32,360 Speaker 1: our history happening. Here's their headlines. Repead nine to one 240 00:13:32,400 --> 00:13:35,520 Speaker 1: calls a wait for deputies. Texas survivors question why help 241 00:13:35,559 --> 00:13:39,400 Speaker 1: didn't arrive sooner. Hollywood writers go on strike, bringing TV 242 00:13:39,440 --> 00:13:41,640 Speaker 1: production to halt ah. Does this sound familiar? Does sound 243 00:13:41,720 --> 00:13:43,880 Speaker 1: like they're almost I could have been giving you the 244 00:13:43,920 --> 00:13:45,920 Speaker 1: same headlines from CBS. 245 00:13:46,000 --> 00:13:47,200 Speaker 2: Yeah. 246 00:13:47,520 --> 00:13:52,320 Speaker 1: Speaker McCarthy accepts Biden investigation debt ceiling meeting. Treasury says 247 00:13:52,400 --> 00:13:55,240 Speaker 1: US will hit the debt limit as early as June one. 248 00:13:55,280 --> 00:13:57,679 Speaker 1: Three pass to raise the debt limit, and why one 249 00:13:57,720 --> 00:14:02,360 Speaker 1: of them is murky? Texas Governor Greg Abbott slam for 250 00:14:02,440 --> 00:14:07,240 Speaker 1: calling shooting victims illegal immigrants. Writers strike to affect late 251 00:14:07,320 --> 00:14:10,360 Speaker 1: night shows first and could have a ripple effect. Another 252 00:14:10,480 --> 00:14:14,360 Speaker 1: article a fight over religion and politics is rolling a 253 00:14:14,440 --> 00:14:18,640 Speaker 1: Texas school board election and it's getting ugly. Pearls, tweets 254 00:14:18,679 --> 00:14:25,280 Speaker 1: and cats stars paid tribute at the met gala. Rihanna 255 00:14:25,320 --> 00:14:29,760 Speaker 1: says thank god you guys waited after she Ris arrives 256 00:14:29,800 --> 00:14:32,880 Speaker 1: fashionably late. Serena Williams reveals she's pregnant with second child 257 00:14:32,880 --> 00:14:36,720 Speaker 1: at met gala. Texas bill to fund private schools set 258 00:14:36,720 --> 00:14:41,240 Speaker 1: off heated debate among parents and teachers. China Exit bands 259 00:14:41,680 --> 00:14:45,720 Speaker 1: multiplies political control Titans under g An American dies while 260 00:14:45,760 --> 00:14:49,400 Speaker 1: climbing Mount Everest. Speaker McCarthy accepts Biden's debt ceiling meeting. 261 00:14:50,440 --> 00:14:53,080 Speaker 2: They run the same headline twice on that website. 262 00:14:53,680 --> 00:14:57,920 Speaker 1: Blinding dust storm leads to six deaths and dozens hospitalized 263 00:14:57,960 --> 00:15:01,640 Speaker 1: after highway pile up in Illinois. Seven people found dead 264 00:15:01,640 --> 00:15:05,320 Speaker 1: in Oklahoma property during search for missing teens. Bride killed 265 00:15:05,320 --> 00:15:09,040 Speaker 1: when allegedly's speeding dui driver slam's golf cart after wedding party. 266 00:15:10,120 --> 00:15:11,920 Speaker 2: You know what they have above this, This isn't a joke. 267 00:15:11,920 --> 00:15:13,440 Speaker 2: I'm gonna read this headline Bush v. 268 00:15:13,640 --> 00:15:18,080 Speaker 1: Gore That happened in two thousand docs Among newly released 269 00:15:18,280 --> 00:15:23,640 Speaker 1: documents from Justice Stevens archives. NYPD searches for man accused 270 00:15:23,640 --> 00:15:27,520 Speaker 1: of defecating on Pride flag. New Mexico woman sent sixteen 271 00:15:27,560 --> 00:15:32,320 Speaker 1: years for placing baby in dumpster. Still nothing about the 272 00:15:32,360 --> 00:15:36,360 Speaker 1: massive bank collapses in this country because they don't want 273 00:15:36,400 --> 00:15:38,880 Speaker 1: you to know just how bad things are. Now, Screw NBC. 274 00:15:39,000 --> 00:15:42,160 Speaker 1: Let's move on to ABC. Maybe ABC, and ABC has 275 00:15:42,200 --> 00:15:43,840 Speaker 1: a pretty good news page. They give you a lot 276 00:15:43,840 --> 00:15:46,120 Speaker 1: of quick headlines, all right, so on the left side 277 00:15:46,120 --> 00:15:47,800 Speaker 1: of their page, and this is real time. 278 00:15:48,280 --> 00:15:51,680 Speaker 2: Here's what's on their page. As three of the four biggest. 279 00:15:51,280 --> 00:15:53,720 Speaker 1: Banks have failed in the history of our country in 280 00:15:53,720 --> 00:15:57,000 Speaker 1: the last two months, and one of the biggest just 281 00:15:57,080 --> 00:16:01,040 Speaker 1: happened in the last twenty four hours. Canadian folk singer 282 00:16:01,120 --> 00:16:04,560 Speaker 1: Gordon Lightfoot dies at eighty four. Seven bodies found HIMID 283 00:16:04,600 --> 00:16:07,280 Speaker 1: search for missing teens. US could default by June unless 284 00:16:07,320 --> 00:16:11,280 Speaker 1: debt limit rises. BP posts five billion quarterly profit on 285 00:16:11,320 --> 00:16:15,200 Speaker 1: strong trading. Europe's inflation goes up ahead of rate decision. 286 00:16:15,440 --> 00:16:20,480 Speaker 1: Justice Stevens Private papers opened the public HBCUs donations one 287 00:16:20,560 --> 00:16:23,240 Speaker 1: hundred and seventy eight times lower than Ivy's new study 288 00:16:23,360 --> 00:16:28,800 Speaker 1: says long unfinished Vegas tower sets grand opening. Carol concludes 289 00:16:28,840 --> 00:16:32,600 Speaker 1: testimony in case against Trump. Mother stung over seventy five 290 00:16:32,680 --> 00:16:36,360 Speaker 1: times by bees in Arizona, bridestruck killed on way home 291 00:16:36,400 --> 00:16:39,960 Speaker 1: from wedding. Four found shot and head in California, mass killing, 292 00:16:40,720 --> 00:16:44,520 Speaker 1: wooming proxy war. In twenty twenty four, Republican primaries could 293 00:16:44,560 --> 00:16:50,880 Speaker 1: define key races nationwide. That's the headlines right now on 294 00:16:50,920 --> 00:16:56,720 Speaker 1: ABC News. Nothing about the bank failures. Nothing Ferrari causes 295 00:16:56,800 --> 00:17:01,160 Speaker 1: multi vehicle crash. Jared leto wear's cat costume at right. 296 00:17:01,200 --> 00:17:06,359 Speaker 1: These are all the headlines over there. So ABC, NBC 297 00:17:06,400 --> 00:17:10,000 Speaker 1: and CBS none of them have a headline on the 298 00:17:10,000 --> 00:17:13,199 Speaker 1: top of their pages anywhere through top or middle about 299 00:17:13,200 --> 00:17:13,600 Speaker 1: a bank. 300 00:17:14,680 --> 00:17:15,920 Speaker 2: Finally, I will. 301 00:17:15,720 --> 00:17:20,399 Speaker 1: Give ABC credit if you scroll down, and this is 302 00:17:20,760 --> 00:17:25,919 Speaker 1: how bad this placement is. It is right next to 303 00:17:26,119 --> 00:17:29,960 Speaker 1: a report increase of rare brain infection seen in kids 304 00:17:30,000 --> 00:17:34,560 Speaker 1: in one state, and next to a Visualize it All 305 00:17:34,600 --> 00:17:38,720 Speaker 1: with Creative cloud all apps. Next to it, there is 306 00:17:38,760 --> 00:17:43,160 Speaker 1: a headline first republic bank fails. Is it a bailout 307 00:17:43,720 --> 00:17:47,960 Speaker 1: question mark? That's how low you have to go to 308 00:17:48,119 --> 00:17:51,919 Speaker 1: find that story. They are not telling you what's happening 309 00:17:51,960 --> 00:17:54,920 Speaker 1: in this economy right now because they know that if 310 00:17:54,920 --> 00:17:59,000 Speaker 1: they do you're going to realize just how bad it is, 311 00:17:59,400 --> 00:18:02,960 Speaker 1: and you're going to realize who's in charge, and they 312 00:18:03,000 --> 00:18:05,840 Speaker 1: have a presidential election coming up, and they are going 313 00:18:05,880 --> 00:18:08,879 Speaker 1: to keep hiding these bank failures. If you go to 314 00:18:09,000 --> 00:18:12,760 Speaker 1: the real headlines and you look at what should be 315 00:18:12,760 --> 00:18:16,840 Speaker 1: being said right now, it's not the things that are 316 00:18:16,880 --> 00:18:19,000 Speaker 1: not going to affect your life. As the Hollywood riders 317 00:18:19,080 --> 00:18:21,640 Speaker 1: go on strike, late night talk shows are halting production. 318 00:18:22,040 --> 00:18:25,399 Speaker 1: That is not what should matter right now. What should 319 00:18:25,440 --> 00:18:29,520 Speaker 1: matter right now is what just happened that the taxpayers 320 00:18:29,560 --> 00:18:33,720 Speaker 1: are paying thirteen billion to save First Republic Bank. Dick 321 00:18:33,800 --> 00:18:37,960 Speaker 1: Durbin said that that's what should be being said. Taxpayers 322 00:18:37,960 --> 00:18:41,000 Speaker 1: are paying thirteen billion to save the First Republic Bank. 323 00:18:41,320 --> 00:18:45,360 Speaker 1: Dick Durman is a Democrat from Illinois, and on Monday, 324 00:18:45,880 --> 00:18:48,520 Speaker 1: he went on TV in the Senate Majority Whip. Dick 325 00:18:48,600 --> 00:18:52,040 Speaker 1: Durbin stated that the thirteen billion loss that the fdi 326 00:18:52,320 --> 00:18:55,800 Speaker 1: SEE is taking on the seizure of First Republic Bank 327 00:18:55,920 --> 00:18:59,040 Speaker 1: is thirteen billion in taxpayers money that the federal government 328 00:18:59,080 --> 00:19:01,080 Speaker 1: put into the First Public Bank to ensure that it 329 00:19:01,160 --> 00:19:04,439 Speaker 1: did not fail and caused some recessions in the economy. 330 00:19:04,560 --> 00:19:06,480 Speaker 1: And he's telling you this is a good thing. 331 00:19:07,680 --> 00:19:11,840 Speaker 2: That this is the government acting responsibly. 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Take a listen to Dick Durbin wanting you 349 00:20:09,960 --> 00:20:13,760 Speaker 1: to praise him for one of the biggest bank failures 350 00:20:13,800 --> 00:20:17,480 Speaker 1: in history happening and then them, quote stepping in. 351 00:20:17,560 --> 00:20:21,439 Speaker 4: Look at this First Republic Bank. We put thirteen billion 352 00:20:21,480 --> 00:20:24,320 Speaker 4: dollars in taxpayers money there to make sure that this 353 00:20:24,440 --> 00:20:28,639 Speaker 4: bank did not fail and cause some recession in this economy. 354 00:20:28,920 --> 00:20:31,520 Speaker 4: There's a lot of steak here with a small, literally 355 00:20:31,600 --> 00:20:35,440 Speaker 4: small bank in comparison to the national economy twenty three 356 00:20:35,560 --> 00:20:38,800 Speaker 4: trillion dollars and the debt ceiling debate that McCarthy is 357 00:20:38,800 --> 00:20:42,920 Speaker 4: trying to use for political purposes. This is totally irresponsible. 358 00:20:43,480 --> 00:20:45,840 Speaker 1: By the way, I love how he now calls one 359 00:20:45,880 --> 00:20:48,200 Speaker 1: of the biggest bank failures in history, First Repo Bank 360 00:20:48,240 --> 00:20:49,879 Speaker 1: a small bank. Did you hear him say that this 361 00:20:49,960 --> 00:20:52,920 Speaker 1: is a small bank relative to our economy. 362 00:20:54,000 --> 00:20:54,680 Speaker 2: Immediately? 363 00:20:54,800 --> 00:20:58,240 Speaker 1: Then if CNN had Cojones, they would have said, or 364 00:20:58,280 --> 00:20:59,560 Speaker 1: if they just wanted to tell you the truth, they 365 00:20:59,560 --> 00:21:02,920 Speaker 1: would have said, Senat Durbin, with all due respect, you've 366 00:21:02,920 --> 00:21:04,840 Speaker 1: had three of the largest four bank players in the 367 00:21:04,880 --> 00:21:07,080 Speaker 1: history of this country. Happened the last two months. First 368 00:21:07,080 --> 00:21:09,080 Speaker 1: Republic Bank is on a small bank store. This is 369 00:21:09,080 --> 00:21:12,120 Speaker 1: a massive bank with billions and billions and billions of dollars. 370 00:21:12,160 --> 00:21:13,560 Speaker 1: If it was a small bank, you wouldn't have had 371 00:21:13,560 --> 00:21:14,960 Speaker 1: to put thirteen billion into it. 372 00:21:15,040 --> 00:21:18,480 Speaker 2: Just to try to save it. But they don't say that. 373 00:21:18,520 --> 00:21:21,159 Speaker 1: They let him keep pushing the propaganda, and then the 374 00:21:21,200 --> 00:21:23,800 Speaker 1: President comes out. We got a new audio from the President. 375 00:21:23,840 --> 00:21:26,960 Speaker 1: Now he's he's got something to say about this about 376 00:21:27,080 --> 00:21:30,320 Speaker 1: First Republic Bank. In fact, he wants you to praise him, 377 00:21:30,800 --> 00:21:33,520 Speaker 1: saying that he is pleased that this has happened. 378 00:21:33,720 --> 00:21:38,760 Speaker 5: I'm pleased to say that the regulators have taken action 379 00:21:38,880 --> 00:21:43,000 Speaker 5: to facilitate the sale of First Republic Bank. I'm sure 380 00:21:43,040 --> 00:21:46,879 Speaker 5: that all depositors are protected, and the taxpayers are not 381 00:21:47,160 --> 00:21:47,720 Speaker 5: on the hook. 382 00:21:48,200 --> 00:21:50,159 Speaker 1: Just a good thing. Well, hold on, how are the 383 00:21:50,240 --> 00:21:51,600 Speaker 1: taxpayers not on the hook? 384 00:21:51,800 --> 00:21:52,200 Speaker 2: President? 385 00:21:52,240 --> 00:21:55,920 Speaker 1: Because Dick Durbin just contradicted you by saying that thirteen 386 00:21:56,040 --> 00:21:59,440 Speaker 1: billion and taxpayers dollars were just put in to save 387 00:21:59,520 --> 00:22:01,600 Speaker 1: First RepA public bank. So how is it we're not 388 00:22:01,720 --> 00:22:04,000 Speaker 1: on the hook and the President was able to lie? 389 00:22:04,040 --> 00:22:06,200 Speaker 1: Now you think somebody would go back and say, miss President, 390 00:22:06,200 --> 00:22:08,520 Speaker 1: you just lied. Dick Durbin just contradicted you on TV 391 00:22:08,600 --> 00:22:09,440 Speaker 1: a moment ago. 392 00:22:09,480 --> 00:22:11,760 Speaker 5: And the taxpayers are not on the hook. 393 00:22:11,960 --> 00:22:15,320 Speaker 1: That is a lie. That is a bold face lie. 394 00:22:15,440 --> 00:22:18,720 Speaker 1: Everyone knows that's a lie. And he just gets to 395 00:22:18,800 --> 00:22:21,040 Speaker 1: walk out there and say it because there's no such 396 00:22:21,080 --> 00:22:24,120 Speaker 1: thing as a real media anymore. They will tell you 397 00:22:24,200 --> 00:22:26,879 Speaker 1: that with three of the four biggest banks failing in history, 398 00:22:26,960 --> 00:22:29,240 Speaker 1: is a small bank that failed. They will tell you 399 00:22:29,680 --> 00:22:33,200 Speaker 1: that thirteen billion of taxpayers dollars went in to save 400 00:22:33,240 --> 00:22:35,240 Speaker 1: this bank, and then they'll look you in the face 401 00:22:35,280 --> 00:22:38,480 Speaker 1: and say it didn't cost you anything. That you should 402 00:22:38,560 --> 00:22:40,879 Speaker 1: be pleased that we are doing this. You should be 403 00:22:41,000 --> 00:22:45,760 Speaker 1: happy that this is happening. White House ask some questions 404 00:22:45,800 --> 00:22:48,400 Speaker 1: on this. Take a listen to what the White House 405 00:22:48,440 --> 00:22:51,240 Speaker 1: had to say about some you know, possible corruption issues 406 00:22:51,280 --> 00:22:53,080 Speaker 1: here with this bailout. 407 00:22:53,160 --> 00:22:53,440 Speaker 2: Listen. 408 00:22:55,720 --> 00:22:57,840 Speaker 6: I'm not going to speak directly to that. I have 409 00:22:57,960 --> 00:23:00,840 Speaker 6: not seen those reports. I get what you're saying. What 410 00:23:00,880 --> 00:23:04,399 Speaker 6: we will continue to say is that the President is 411 00:23:04,440 --> 00:23:07,960 Speaker 6: going to make sure that it's not the taxpayers that 412 00:23:08,080 --> 00:23:12,439 Speaker 6: have to pay for this or lose on this. We 413 00:23:12,480 --> 00:23:16,360 Speaker 6: want to make sure that they're protected, depositors, family, small businesses. 414 00:23:16,359 --> 00:23:20,280 Speaker 6: We've been very clear. It does not protect investors. First 415 00:23:20,280 --> 00:23:24,000 Speaker 6: Republic shareholders and bondholders will lose their entire investments. That's 416 00:23:24,040 --> 00:23:27,159 Speaker 6: what the President has directed his economic team to do. 417 00:23:27,600 --> 00:23:30,800 Speaker 6: FDIC runs this process and I'm just going to leave 418 00:23:30,800 --> 00:23:31,160 Speaker 6: it there. 419 00:23:31,480 --> 00:23:33,359 Speaker 1: I'm just going to leave it there. The question she 420 00:23:33,480 --> 00:23:38,000 Speaker 1: was asked was about members of Congress having insider trading 421 00:23:38,160 --> 00:23:44,760 Speaker 1: on First Republic Bank. She was asked about insider trading, Right, 422 00:23:44,920 --> 00:23:49,320 Speaker 1: members of Congress and insider training trading. Listen to the 423 00:23:49,440 --> 00:23:52,399 Speaker 1: question now, because you hear her response. I wanted you 424 00:23:52,440 --> 00:23:54,679 Speaker 1: to hear the response first, Like, everything's good, it's just 425 00:23:54,720 --> 00:23:57,760 Speaker 1: some taxpayers money, but it's all protected. Everything's bad, Hey, 426 00:23:57,800 --> 00:24:00,320 Speaker 1: was there any inside trading with people in Washington, people 427 00:24:00,359 --> 00:24:01,080 Speaker 1: in the administration? 428 00:24:01,240 --> 00:24:01,520 Speaker 2: Listen. 429 00:24:01,600 --> 00:24:04,800 Speaker 6: I'm gonna just take one in the back ahead, film 430 00:24:03,840 --> 00:24:05,360 Speaker 6: another one. 431 00:24:05,400 --> 00:24:06,760 Speaker 4: On the banking issue. 432 00:24:06,760 --> 00:24:10,080 Speaker 7: I'm wondering what the President's message is members of Congress 433 00:24:10,160 --> 00:24:14,600 Speaker 7: who might see the current banking shakeup or future banking 434 00:24:14,640 --> 00:24:17,920 Speaker 7: troubles as an opportunity to make a buck. I guess, 435 00:24:17,960 --> 00:24:20,240 Speaker 7: for instance, we've already seen some members of Congress and 436 00:24:20,560 --> 00:24:24,920 Speaker 7: who have had what seems like particularly good luck offloading 437 00:24:24,960 --> 00:24:27,879 Speaker 7: shares of First Republic Bank and turning around and buying 438 00:24:28,280 --> 00:24:29,959 Speaker 7: shares of JP Morgan. 439 00:24:30,920 --> 00:24:34,240 Speaker 6: Okay, I'm not going to speak directly to that. 440 00:24:34,560 --> 00:24:37,840 Speaker 1: Oh yeah, why would we talk about insider trading in Washington? 441 00:24:37,960 --> 00:24:38,120 Speaker 2: Right? 442 00:24:38,840 --> 00:24:44,520 Speaker 1: You have this reporter who's like Hey, we've already seen 443 00:24:44,680 --> 00:24:48,639 Speaker 1: some members of Congress who have had what seems like 444 00:24:48,680 --> 00:24:52,199 Speaker 1: particularly good luck offloading shares of First Republic Bank and 445 00:24:52,240 --> 00:24:55,800 Speaker 1: turning around and buying shares of JP Morgan. Notice how 446 00:24:55,800 --> 00:24:59,200 Speaker 1: the reporter doesn't have the cons to name names here, 447 00:24:59,280 --> 00:25:04,360 Speaker 1: Just right, let's just keep it generic. I'm look, I'm 448 00:25:04,400 --> 00:25:06,680 Speaker 1: not going to speak directly that, So to be clear, 449 00:25:07,119 --> 00:25:10,639 Speaker 1: you have members of Congress who were not going to 450 00:25:10,760 --> 00:25:13,840 Speaker 1: name it this White House briefing, who are all floating 451 00:25:13,920 --> 00:25:16,640 Speaker 1: shares a First Republic Bank before it's colap and then 452 00:25:16,640 --> 00:25:19,879 Speaker 1: turning around and using those dollars to buy shares of 453 00:25:19,960 --> 00:25:23,400 Speaker 1: JP Morgan that went up, And the White House's official 454 00:25:23,440 --> 00:25:26,000 Speaker 1: line is I'm not going to speak directly to that. 455 00:25:26,400 --> 00:25:31,000 Speaker 1: I've not seen those reports. Well, we asked the question, 456 00:25:31,119 --> 00:25:33,359 Speaker 1: she didn't answer the question. We can now move on 457 00:25:33,560 --> 00:25:41,240 Speaker 1: and act like nothing happened here. Everything's fine, right, everything's fine. Yeah, 458 00:25:41,280 --> 00:25:43,399 Speaker 1: if you're a member of Congress, go on TV and 459 00:25:43,840 --> 00:25:45,840 Speaker 1: talk about it's not that big of a deal. Right, 460 00:25:45,880 --> 00:25:50,320 Speaker 1: here's another congressman, Representative Row. Listen, this is a pretty 461 00:25:50,320 --> 00:25:53,960 Speaker 1: brutal report on the collapse of Silicon Valley banks. 462 00:25:53,560 --> 00:25:54,400 Speaker 3: In your district. 463 00:25:54,600 --> 00:25:57,440 Speaker 4: How much can Congress do to address some of these 464 00:25:57,520 --> 00:25:58,400 Speaker 4: major failures. 465 00:25:59,160 --> 00:26:01,800 Speaker 3: Oh, we should never have repealed the two thousand and 466 00:26:02,600 --> 00:26:07,240 Speaker 3: eighteen dot Frank restrictions from applying to smaller banks like 467 00:26:07,280 --> 00:26:10,960 Speaker 3: Silicon Valley Bank. That sent a signal to the FED 468 00:26:11,040 --> 00:26:13,840 Speaker 3: that the supervisor supervision didn't have to be as tight. 469 00:26:14,600 --> 00:26:16,680 Speaker 3: What we first need to do in Congress is say 470 00:26:16,960 --> 00:26:20,800 Speaker 3: there needs to be strict oversight over banks like Silicon 471 00:26:20,880 --> 00:26:23,840 Speaker 3: Valley Bank. There need to be expanded risk and liquidity 472 00:26:23,880 --> 00:26:25,880 Speaker 3: tests to prevent this kind of situation. 473 00:26:26,480 --> 00:26:29,919 Speaker 2: Is by the way, that's a lie, just so you know. 474 00:26:30,600 --> 00:26:32,520 Speaker 1: But you notice the one thing that was said there 475 00:26:32,560 --> 00:26:35,919 Speaker 1: that I really wanted to make you understand, and that 476 00:26:36,080 --> 00:26:41,119 Speaker 1: is what was just said there by this individual. Silicon 477 00:26:41,280 --> 00:26:45,320 Speaker 1: Valley Bank is a small bank. If there's any wording 478 00:26:45,400 --> 00:26:47,760 Speaker 1: that has keep coming up in all of these interviews 479 00:26:47,800 --> 00:26:50,119 Speaker 1: when Democrats are forced to talk about three of the 480 00:26:50,160 --> 00:26:53,199 Speaker 1: four four biggest bank failures in history of this country, 481 00:26:53,320 --> 00:26:57,520 Speaker 1: is keep calling it a small bank. Act like it's 482 00:26:57,560 --> 00:27:00,399 Speaker 1: not a lot of money. Lie to the American people 483 00:27:00,440 --> 00:27:04,800 Speaker 1: and tell the American people that none of your tax 484 00:27:04,840 --> 00:27:08,720 Speaker 1: dours went towards bailing out Silicon Valley Bank, when in fact, 485 00:27:09,560 --> 00:27:12,639 Speaker 1: billions of your tax dours went to bailing out this 486 00:27:12,840 --> 00:27:16,159 Speaker 1: bank and protecting this bank. Make sure you put that 487 00:27:16,400 --> 00:27:20,840 Speaker 1: out there. That is the narrative that we need. That's 488 00:27:20,880 --> 00:27:23,600 Speaker 1: the narrative we want. We're gonna just keep saying the 489 00:27:23,600 --> 00:27:25,879 Speaker 1: bank is small. We're gonna keep telling your tax dollers 490 00:27:25,880 --> 00:27:28,240 Speaker 1: weren't used. We're gonna keep telling you that everything's fine. 491 00:27:28,240 --> 00:27:29,879 Speaker 1: We're not going to tell you about the names or 492 00:27:29,880 --> 00:27:32,800 Speaker 1: the insider trading of the members of Congress that were 493 00:27:32,840 --> 00:27:36,800 Speaker 1: offloading Silicon Valley Bank stock and then immediately buying Chase 494 00:27:37,040 --> 00:27:40,040 Speaker 1: JP Morgan Chase, which then oh wait, was forced to 495 00:27:40,080 --> 00:27:40,840 Speaker 1: buy that bank. 496 00:27:41,000 --> 00:27:45,159 Speaker 2: Nothing to see there, Everything's fine. 497 00:27:46,600 --> 00:27:54,520 Speaker 1: Welcome to the Democratic Party, genuinely in charge of our 498 00:27:54,720 --> 00:27:59,399 Speaker 1: economy in our bank. The real headline is there should 499 00:27:59,440 --> 00:28:02,119 Speaker 1: be fears for the banking system in the broader economy. 500 00:28:02,480 --> 00:28:04,680 Speaker 1: The real headline is three of the four largest bank 501 00:28:04,680 --> 00:28:08,399 Speaker 1: payres in US history have happened under Joe Biden, the Democratics. 502 00:28:08,840 --> 00:28:14,920 Speaker 1: Democrats leadership first Republic, by the way, was set when 503 00:28:14,920 --> 00:28:17,240 Speaker 1: the bank revealed and this is when you knew they 504 00:28:17,280 --> 00:28:19,720 Speaker 1: were done that it lost one hundred billion in deposits 505 00:28:20,440 --> 00:28:23,680 Speaker 1: after the Silicon Valley Bank collapse led to panic among 506 00:28:23,720 --> 00:28:27,600 Speaker 1: wealthy clients. Its stock went down seventy five percent last week, 507 00:28:27,680 --> 00:28:32,160 Speaker 1: and democrats and insider trading in Washington, they are really 508 00:28:32,240 --> 00:28:35,680 Speaker 1: good folks and going, I'm just gonna sell my stock 509 00:28:35,720 --> 00:28:40,640 Speaker 1: before all this hit the fan. JP Morgan Chase CEO 510 00:28:41,240 --> 00:28:45,680 Speaker 1: Jamie Dimon said Monday, this part of the crisis is over, 511 00:28:45,760 --> 00:28:47,760 Speaker 1: adding that he believes the financial system is strong, but 512 00:28:47,760 --> 00:28:50,280 Speaker 1: it's possibly a smaller bank could fail. Notice how he 513 00:28:50,480 --> 00:28:54,880 Speaker 1: even uses the word smaller bank. First Republic, by the way, 514 00:28:54,920 --> 00:28:59,680 Speaker 1: Bank revealed relied heavily on wealthy clients, with more than 515 00:28:59,760 --> 00:29:04,120 Speaker 1: two two thirds of its deposits, well above the fdiics 516 00:29:04,120 --> 00:29:06,640 Speaker 1: two hundred and fifty thous one thousand dollars insurance limit. 517 00:29:08,520 --> 00:29:14,040 Speaker 1: The bank face hefty unrealized losses on long term treasury bonds, 518 00:29:14,040 --> 00:29:17,520 Speaker 1: which saw their value plummet after the reserve hyped interest rates, 519 00:29:17,560 --> 00:29:20,720 Speaker 1: hurting its ability to raise cash to cover deposit outflows. 520 00:29:22,480 --> 00:29:25,800 Speaker 1: The economy is not doing well, and they can lie 521 00:29:25,800 --> 00:29:29,040 Speaker 1: to you on the headlines all over the country, and 522 00:29:29,080 --> 00:29:31,280 Speaker 1: they can lie to you every day. But if the 523 00:29:31,320 --> 00:29:35,680 Speaker 1: American people are feeling this right now, they're feeling it 524 00:29:36,040 --> 00:29:37,960 Speaker 1: and the media is going to keep lying to you 525 00:29:38,040 --> 00:29:40,400 Speaker 1: just to try to keep these idiots in charge, and 526 00:29:40,440 --> 00:29:44,440 Speaker 1: it can cost you your entire financial savings. 527 00:29:45,320 --> 00:29:47,480 Speaker 2: All right. Lastly, please make sure you hit. 528 00:29:47,360 --> 00:29:51,680 Speaker 1: That subscribe button or auto download button wherever you are 529 00:29:51,720 --> 00:29:54,600 Speaker 1: listening to this podcast right now, and take a moment 530 00:29:54,640 --> 00:29:57,440 Speaker 1: to rite us a five star review. Many on the 531 00:29:57,520 --> 00:30:00,440 Speaker 1: left have been attacking our podcast, running us bat views 532 00:30:00,440 --> 00:30:03,280 Speaker 1: on purpose, so if you would help us fight back 533 00:30:03,320 --> 00:30:05,640 Speaker 1: by writing us a good review, a five story review, 534 00:30:05,960 --> 00:30:08,440 Speaker 1: and share this podcast with your family and friends. 535 00:30:08,160 --> 00:30:10,640 Speaker 2: On social media to help us grow. See you back 536 00:30:10,680 --> 00:30:11,480 Speaker 2: here tomorrow.