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Mar 16, 2023
03/23
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janet yellen on capitol hill testified that our banking system is sound. senator marsha blackburn is here and we'll see if she is buying that. she is coming on at 2:30. america has a new favorite breed of dog, it might surprise you. tweet me your favorite @cvpayne. my takeaway why silicon valley is the new roman colossus. all that and so much more on "making money." ♪. charles: feels like you're surfing, right? market trying to get equalibrium here. all developments. news coming so fast even too fast for the digital age interesting there is nothing new about a banking crisis yet there are unlimited opinions out there how we should be addressing this, what it means for the economy and the stock market. of course at the end of the day the only opinion that matters is jay powell and company, right? the federal reserve will dictate everything. this is modeling on the street. this is kind of nuts. here we are right now, wall street sees one more rate hike. we stay here. then we get a rate cut. then we get a big rate cut. then we get more rate cuts. we get mor
janet yellen on capitol hill testified that our banking system is sound. senator marsha blackburn is here and we'll see if she is buying that. she is coming on at 2:30. america has a new favorite breed of dog, it might surprise you. tweet me your favorite @cvpayne. my takeaway why silicon valley is the new roman colossus. all that and so much more on "making money." ♪. charles: feels like you're surfing, right? market trying to get equalibrium here. all developments. news coming so...
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Mar 24, 2023
03/23
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then they watched janet yellen say yes, no. jay powell says yes, no, nobody sure. this is what is haunting them. these polls are not offended if they are polls and not boats. i just wanted track sentiment. one look sunday march 12 when they decided to guarantee silicon valley bank. that was a bailout and i don't think anybody liked it and i think biden is paying the price. >> is been paying the price for independence since the chaotic and unnecessary irrational pullout from afghanistan. he never won independence again. things like this don't help, who were independence, some relapse democrats i left the democratic party in a holding pen under powder they don't want to vote republican they want to feel convinced that we do it friendly and have solutions in finisher sentences and talk about the solutions. independence are also people who hate political parties they don't like washington trust washington they don't trust washington did not bailout something in california and nationwide silicon valley bank. he is not to get independence packets can be very hard to ever
then they watched janet yellen say yes, no. jay powell says yes, no, nobody sure. this is what is haunting them. these polls are not offended if they are polls and not boats. i just wanted track sentiment. one look sunday march 12 when they decided to guarantee silicon valley bank. that was a bailout and i don't think anybody liked it and i think biden is paying the price. >> is been paying the price for independence since the chaotic and unnecessary irrational pullout from afghanistan....
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Mar 24, 2023
03/23
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janet yellen flip-flops. she's trying to put lipstick on that billionaire bailout, and let's just say it's not that easy. plus, my takeaway on the modern day federal reserve and why jay powell will soon be tossing money out of the helicopter just like i all his predecessors. all that and so much more on "making money." ♪ ♪ charles: all right. so it was interesting because yesterday -- we're up a little bit now, and is you want to see the internals, but yesterday we were up, but service the only two sectors. the broad market got hit pretty good, and they were led by real estate and financials. today the market wantedded to rally. yesterday it wanted to rally as well. treasury secretary janet yellen, though, she began to the speak and it's the really remarkable, she just kneecapped the optimism for the second day in a row. yesterday, of course, stocks tumbled on confusion. there was a flip-flop to the prior day's flip-flop, and i've got to be the honest, right now i think everyone's confused. meanwhile, ano
janet yellen flip-flops. she's trying to put lipstick on that billionaire bailout, and let's just say it's not that easy. plus, my takeaway on the modern day federal reserve and why jay powell will soon be tossing money out of the helicopter just like i all his predecessors. all that and so much more on "making money." ♪ ♪ charles: all right. so it was interesting because yesterday -- we're up a little bit now, and is you want to see the internals, but yesterday we were up, but...
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Mar 21, 2023
03/23
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did you hear what treasury secretary janet yellen said today? she insists the bank situation is stablizing and the fed will intervene to protect small banks, all the kind of things you would expect but she also let out the feds are indeed mulling unlimited deposit guaranties if the bank crisis worsens. who pays for that? we'll ask former house majority leader eric cantor who fears well, taxpayers do. florida republican congresswoman anna paulina luna, on the law of unintended rescue consequences and violent crime worries this spring break in i guess the spring break capital of the world, florida. yeah. florida. ain't that a beach or should i say miami beach? welcome, everybody, i'm neil cavuto. glad to have you. sunny skies for stocks thus far. they have given up a lot of their gains, close to over 300 points earlier in the day. 126 points, to kenny polcari what he makes thiscom pac tuesday. kenny. >> how are you? i feel good about this comeback tuesday. a lot of angst we saw certainly was created out out of the hysta over the bank situation and
did you hear what treasury secretary janet yellen said today? she insists the bank situation is stablizing and the fed will intervene to protect small banks, all the kind of things you would expect but she also let out the feds are indeed mulling unlimited deposit guaranties if the bank crisis worsens. who pays for that? we'll ask former house majority leader eric cantor who fears well, taxpayers do. florida republican congresswoman anna paulina luna, on the law of unintended rescue...
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Mar 26, 2023
03/23
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treasury secretary janet yellen was sending confusing signals on whether all bank deposits are safe or whether those of the treated $50000 the current fcic guaranteed limit. how alarmed should we be the economic policymakers are clueless. let's talk about it with our panel lauren let me come to you first. it's pretty disturbing our key leadership here do seem that the federal reserve lost control of inflation completely and fighting to get back on top of it and then the process causing harm and damage with higher interest rates janet yellen doesn't seem to be able to make up her mind from one day to the next where people are going to be protected when banks fail that's not the leadership that we expect from washington, is it? >> when it comes to the fed it's really important what it remains political, jerome powell was appointed by trump and held over by biden, when the fed becomes politicized, as we see eventually starting to happen we saw that through coded what is the role and we republicans and democrats arguing about the role of the fed during covid would becomes politicized that'
treasury secretary janet yellen was sending confusing signals on whether all bank deposits are safe or whether those of the treated $50000 the current fcic guaranteed limit. how alarmed should we be the economic policymakers are clueless. let's talk about it with our panel lauren let me come to you first. it's pretty disturbing our key leadership here do seem that the federal reserve lost control of inflation completely and fighting to get back on top of it and then the process causing harm and...
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Mar 24, 2023
03/23
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yellen. what he makes of the flip-flop over bank bailouts. stay with us. (vo) the fully electric audi e-tron family is here. with models that fit any lifestyle. and innovative ways to make your e-tron your own. through elegant design and progressive technology. all the exhilaration, none of the compromise. the audi e-tron family. progress that moves you. you want a loan to build a factory in america? you can't do that. this is what we were up against. nobody builds factories in the us anymore. you can't do that. experts claimed you couldn't do what we did. you want to hire workers here in the states? you can't do that. weathertech has been proving them wrong, for over 33 years. building our own factories, employing thousands, and making world-class products, right here in america. because when you buy something made in america...we all win. weathertech. mom. can we get a puppy, mom? please? girls, pets are a big expense. aww. [ audience cheers ] maybe try switching your car insurance to progr
yellen. what he makes of the flip-flop over bank bailouts. stay with us. (vo) the fully electric audi e-tron family is here. with models that fit any lifestyle. and innovative ways to make your e-tron your own. through elegant design and progressive technology. all the exhilaration, none of the compromise. the audi e-tron family. progress that moves you. you want a loan to build a factory in america? you can't do that. this is what we were up against. nobody builds factories in the us anymore....
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Mar 23, 2023
03/23
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>> janet yellen definitely made the error. she was too specific. in this situation you have to be vague what you intend and stay positive and she focused on deposit insurance and she said that she hasn't had any conversations about increasing deposit insurance. neither the treasury or fed has the bailiwick that belongs to the federal deposit insurance corporation and congress would have to get on the same page for that. powell said don't banks will implode. we'll provide them with liquidity, your deposits are safe from that perspective. charles: i saw a article couple days ago, it mentioned ann petty for, british economist predicted the global crash. she said the banks are choosing class warfare over financial stability. i thought about you. you've been imploring the fed slow down, stop, they have done enough. so does she have a point? >> i guess. i don't think of the situation in those kind of terms. what i think is that the fed has been fighting inflation and now suddenly it is realizing it has a financial stability issue. i think from the perspe
>> janet yellen definitely made the error. she was too specific. in this situation you have to be vague what you intend and stay positive and she focused on deposit insurance and she said that she hasn't had any conversations about increasing deposit insurance. neither the treasury or fed has the bailiwick that belongs to the federal deposit insurance corporation and congress would have to get on the same page for that. powell said don't banks will implode. we'll provide them with...
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Mar 27, 2023
03/23
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he spoke about when janet yellen was in front of his committee two weeks ago and her take on the country's debt. watch this. >> admiral mike muleen in the 2010, 2011 timeframe said the greatest threat to the national security was the debt and deficit. it exceeds $32 trillion. the treasury secretary was talking about president biden driving the debt up to the $50 trillion over the 10 year budget window. she wouldn't admit mass i've deficit spending was a major contributor. maria: don't forget, we're on the doorstep of another potential major crisis with the debt ceiling being raised. there's going to be a fight between republicans and democrats in terms of cutting back spending. is that something that could be a market catalyst to the downside as well, as well as these congressional hearings this week on the bank collapse. anything there that you are expecting in terms of recommendations for more rules? >> well, at the very core there's a hierarchy of blame in terms of what happened couple of weeks ago. but at the very core of this is that the -- at the bottom, there was no supervision. eve
he spoke about when janet yellen was in front of his committee two weeks ago and her take on the country's debt. watch this. >> admiral mike muleen in the 2010, 2011 timeframe said the greatest threat to the national security was the debt and deficit. it exceeds $32 trillion. the treasury secretary was talking about president biden driving the debt up to the $50 trillion over the 10 year budget window. she wouldn't admit mass i've deficit spending was a major contributor. maria: don't...
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Mar 16, 2023
03/23
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to hear janet yellen say today everything is a-okay i don't think so. go look at chart of kre, the regional bank index. no, not everything is okay. i do wonder if they're going to have to save somebody else as we move forward. liz: the kre is up 3.6% but the high of the year had been 73 bucks. we're at 46 right now. >> yep. liz: as they say john, bailouts only encourage the very behavior that makes bailouts necessary but let's talk about the opportunity, not just for the big banks but for the smaller investors right now. where are you investing? >> i think you have to be a portion of your portfolio needs to be in polled,. liz: really? >> gold does well when interest rate go down, times of crisis, gold will act as a safe haven. we have both of the situations potentially right now. interest rates are coming in. the worst situation for gold that interest rates rise. the drama will build until the march 22nd fomc meeting, do they decide to raise rates to cut inflation, or provide liquidity in the system to prevent further stress? the finance hal system. liz
to hear janet yellen say today everything is a-okay i don't think so. go look at chart of kre, the regional bank index. no, not everything is okay. i do wonder if they're going to have to save somebody else as we move forward. liz: the kre is up 3.6% but the high of the year had been 73 bucks. we're at 46 right now. >> yep. liz: as they say john, bailouts only encourage the very behavior that makes bailouts necessary but let's talk about the opportunity, not just for the big banks but for...
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Mar 17, 2023
03/23
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runs, treasury secretary janet yellen speaking on the state of the u.s. financial banking system yesterday. heres' a bit of what she said, watch. >> i can reassure the members of our committee the banking system is sound. americans can feel confident their he deposits will be there when they need them. this week's actions demonstrate our resolute commitment to ensure our financial system remains strong and that deposit depositor's savings remain safe. no taxpayer money is being used or put at risk with this action. maria: steven, with that the wall street journal writes in the editorial board section, while yellen assures banks run, janet yellen offers more assurances thursday that u.s. banks are safe and sound and we doubt even the treasury secretary believes it, certainly no one else does, writes the journal. the biggest american bank has to commit 30 billion on thursday to rescue first republic bank 15 years to the day that bear sterns collapsed. happy a anniversary the journal writes, your reaction. >> you have to distinguish this crisis from '08, '09
runs, treasury secretary janet yellen speaking on the state of the u.s. financial banking system yesterday. heres' a bit of what she said, watch. >> i can reassure the members of our committee the banking system is sound. americans can feel confident their he deposits will be there when they need them. this week's actions demonstrate our resolute commitment to ensure our financial system remains strong and that deposit depositor's savings remain safe. no taxpayer money is being used or...
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72
Mar 23, 2023
03/23
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clearly, we just brought you the headlines from janet yellen. but citi group ceo jane frazier told the economic club of washington, d.c. odd the that regional banks are, quote, well capitalized, and fitch rating agency odd the said large french banks are resilient to current market stress. they have e liquidity that is sound, buffers are strong, and they are well positioned to absorb short-term negative impacts of higher interest rates. for now the broader market doesn't seem to be too concerned at the moment. sure, the dow is down 71 right now, but let's see what our floor show team says. joining me now, our trader, teddy weisberg and bnp paris baa' chief economist. teddy doty, what happened? 40 minutes ago we were roaring ahead in the stock market, and hose the regions -- hose the regionals started to the fall again. >> well, that's right because there's still so much uncertainty out there. it's a very, very difficult environment for investors. the message is so mixeded, and behind the curtain with the financial issues with some of these regio
clearly, we just brought you the headlines from janet yellen. but citi group ceo jane frazier told the economic club of washington, d.c. odd the that regional banks are, quote, well capitalized, and fitch rating agency odd the said large french banks are resilient to current market stress. they have e liquidity that is sound, buffers are strong, and they are well positioned to absorb short-term negative impacts of higher interest rates. for now the broader market doesn't seem to be too...
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Mar 27, 2023
03/23
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yellen testifying this week markets this morning are rallying on this -- rescue. of all assets dow industrials up 218 points highs of the morning right now hour and a half before opening bell nasdaq up 51 s&p higher by 26 this on top of against last week as well take a look at market last week major afternoons chalked up gains nasdaq up 1 2/3% dow industrials up 1.1% s&p 500 higher by 1 1/3% european markets with firmer tone eurozone ft 100 in london up 63 cac quarante up 71, dax higher by 181. in asia overnight, will most red across the board, with the exception of japan. nikkei average up a third of one percent weak spot hong kong down 1 3/4 on a hang seng, in washington house of representatives moving forward with tiktok legislation after last week's hearing on capitol hill, more deals coming up, then in new york, the trump grand jury to reconvene today after multiple calculations last week details, this morning with congressman greb steube former federal prosecutor fox news contributor andrew mccarthy right now to break it town michael lee, pollster the presid
yellen testifying this week markets this morning are rallying on this -- rescue. of all assets dow industrials up 218 points highs of the morning right now hour and a half before opening bell nasdaq up 51 s&p higher by 26 this on top of against last week as well take a look at market last week major afternoons chalked up gains nasdaq up 1 2/3% dow industrials up 1.1% s&p 500 higher by 1 1/3% european markets with firmer tone eurozone ft 100 in london up 63 cac quarante up 71, dax higher...
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Mar 25, 2023
03/23
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yellen is modeling the rules we don't know what the rules are she going to assure about 250,000 are not and how many other banks are there that could fail, what is your take on the number of banks that could be problematic? >> i think the hazard and you kneeled on the head. when you have a bank with idiot management and i don't mean to be rude i'm just saying you look at silicon valley bank and a combination of idiot management aboard this unqualified to oversee our negligence or both in the san francisco fed just missed it. is it my fault, directed pay for that as a taxpayer, credit suisse you referenced has been a zombie bank for 14 years. the average penalty for the management team over the last decade is half a billion a year. if that isn't idiot management you had us if you put your money into that place finally credit suisse had to clean it up on their own but everybody knows that story, deutsche bank same issue. as a taxpayer the question is why do i have to bailout idiots over and over again, let them fail and let the market clean it up, it's okay if they go to 0. maria: tha
yellen is modeling the rules we don't know what the rules are she going to assure about 250,000 are not and how many other banks are there that could fail, what is your take on the number of banks that could be problematic? >> i think the hazard and you kneeled on the head. when you have a bank with idiot management and i don't mean to be rude i'm just saying you look at silicon valley bank and a combination of idiot management aboard this unqualified to oversee our negligence or both in...
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Mar 31, 2023
03/23
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yellen blaming trump for the recent bank collapses, janet yellen claiming the trump administration decimated financial oversight why biden is calling for reversal of the rollback of regulation over midsize bank, your on the house financial services committee. does this make sense to you because the flipside of the coin that they're not mentioning is the fact that they spent over $6 trillion in the course of two years that sent interest rates skyrocketing. >> first of all your lying again we had congressional testimony from vice chair at the federal reserve who is the head of a supervisory. even his own testimony said the bill under president trump did not take any authority away from the federal reserve and the san francisco federal reserve bank to oversee silicon valley bank or any other bank under their supervision so the white house and the treasury secretary are lying to the american people yet again, let's be very clear we have an issue with supervisory in my opinion over the banking system. at the end of the day the failure of silicon valley bank was on the banks management they did no
yellen blaming trump for the recent bank collapses, janet yellen claiming the trump administration decimated financial oversight why biden is calling for reversal of the rollback of regulation over midsize bank, your on the house financial services committee. does this make sense to you because the flipside of the coin that they're not mentioning is the fact that they spent over $6 trillion in the course of two years that sent interest rates skyrocketing. >> first of all your lying again...
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Mar 29, 2023
03/23
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treasury secretary janet yellen testifies today. she has no answers on that. attorney general garland testifies he does not know key details on the doj targeting school board parents as terrorists. this news, u.s. marshals were told to stand down on protesters at the homes of supreme court justices last year. with us congressman jim jordan, greg stuebe, michael mccaul, former economic advisor to president trump, steve moore. civil right attorney leo terrell, alex epstein and "new york post" jon levine. a new gallup poll the president is under water on the approval rating, the economy. even the environment. the white house stone walls multiple investigations. energy secretary granholm now on spring break in puerto rico. this is her fourth trip since last fall. plus dr. fauci now questions if pandemic lockdowns lasted too long. he repeatedly pushed for them. the stunning new bill of a whopper california faces for reparation,hundred billion $800 billion. i'm elizabeth macdonald. "the evening edit," it starts right now. ♪. liz: welcome to the show. welcome to th
treasury secretary janet yellen testifies today. she has no answers on that. attorney general garland testifies he does not know key details on the doj targeting school board parents as terrorists. this news, u.s. marshals were told to stand down on protesters at the homes of supreme court justices last year. with us congressman jim jordan, greg stuebe, michael mccaul, former economic advisor to president trump, steve moore. civil right attorney leo terrell, alex epstein and "new york...
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Mar 28, 2023
03/23
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yellen doing it and also secretary -- treasury janet yellen doing it and also secretary blinken . we're doing catch up here. i was at a dinner table with six of the african presidents and the common theme they had, maria, is look at, china is into our countries in a very significant way. we really welcome the relationship with the united states. we would rather have the relationship with the united states. and what china is doing, you know, the international money entry fund was established to help developing countries and they also want those countries to have -- remove as much corruption as possible so they have goals and objectives they place on open them. -- place on them. china doles out more money, charges higher interest rates and there's debtor and creditor problems as a result of it and they wind up taking over the infrastructure themselves. the mercantileism is frustrating the africans of. we have an opportunity here, because the chinese are playing a heavy hand, maria. why is china so involved in africa? economic influence gains them geopolitical control and particularl
yellen doing it and also secretary -- treasury janet yellen doing it and also secretary blinken . we're doing catch up here. i was at a dinner table with six of the african presidents and the common theme they had, maria, is look at, china is into our countries in a very significant way. we really welcome the relationship with the united states. we would rather have the relationship with the united states. and what china is doing, you know, the international money entry fund was established to...
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Mar 16, 2023
03/23
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go to the yelling going at yellen, treasury secretary janet yellen at the heated hearing i carefully the shake has hit the fan. chad pergram watching it all. chad. >> reporter: neil, the got afternoon. the goal of yellen is to calm the public about wages. ron wyden said nerve are frayed. yellen said taxpayers are not on the hook. the fed introduced a plan to underwrite banks. >> reassure the members of the committee that our banking system is sound. americans can feel confident their deposits will be there when they need them. >> reporter: the problem with svb that it invested in u.s. treasurys and interest rates spiked. the bank had to settle treasurys to pay the customers. svb lost money dumping treasurys early. that is why the bank collapsed when customers demanded their money. >> the bank to meet liquidity needs had to sell assets that it expected to hold to maturity and, given the interest rate increases that have occurred since those assets including treasurys and government-backed security, mortgage-backed securities they had lost market value. >> reporter: republicans used th
go to the yelling going at yellen, treasury secretary janet yellen at the heated hearing i carefully the shake has hit the fan. chad pergram watching it all. chad. >> reporter: neil, the got afternoon. the goal of yellen is to calm the public about wages. ron wyden said nerve are frayed. yellen said taxpayers are not on the hook. the fed introduced a plan to underwrite banks. >> reassure the members of the committee that our banking system is sound. americans can feel confident...
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Mar 31, 2023
03/23
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janet yellen has sort of said that if you put your money into one of these bigger banks you're covered above 250. by saying we'll decide which are systemically important. well you know chase is systemic ally important, so if you're in a regional bank you take out your money, you may have 350 in the bank, a small business and move it over, or the money-markets. how can these small banks be saved at this point then? >> well, you know, more explicit guidance from the regulators about that issue be fantastic, but apparently, the white house is worried if they say all deposits are covered for now, it'll sound like they like rich people, and they don't want to send that message, so we do have this intu mation from the treasury but nothing stronger. charles: after you bailout the customers, the richest zip code in america or the top 10 accounts with $13 billion, ain't nobody richer , so now we have semi- billionaires and hundred millionaires and you know? >> look, plus more important than that, we need systemic stability while we figure out what the hecks going on and we don't yet have that,
janet yellen has sort of said that if you put your money into one of these bigger banks you're covered above 250. by saying we'll decide which are systemically important. well you know chase is systemic ally important, so if you're in a regional bank you take out your money, you may have 350 in the bank, a small business and move it over, or the money-markets. how can these small banks be saved at this point then? >> well, you know, more explicit guidance from the regulators about that...
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Mar 13, 2023
03/23
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janet yellen. elizabeth: yeah. and, of course, when you raise rates like liz just described, your going to have a crack-up. when you have oceans of money flowing through the system and you still have inwe end the people, you know, you can throw all the money you want, it doesn't fix incompetence. you can't legislate competence. michael, isn't this new type of bank run that government should have their hair on fire about? you don't have to wait in line, you just pull out your bank deposits with your iphone and venmo it to another account. critics are saying this is a huge $42 the billion list that came out of svb on friday. a quarter of all its deposits. i mean, is the entire $17 trillion deposit base now on a hair trigger demanding instant liquidity and biden is sleeping until mid-morning? >> i mean, this is exactly the problem that it has become so easy to move money from one institution to another that these bank runs are happening at a pace that's just unprecedented. but, you know, i really want to go back to wh
janet yellen. elizabeth: yeah. and, of course, when you raise rates like liz just described, your going to have a crack-up. when you have oceans of money flowing through the system and you still have inwe end the people, you know, you can throw all the money you want, it doesn't fix incompetence. you can't legislate competence. michael, isn't this new type of bank run that government should have their hair on fire about? you don't have to wait in line, you just pull out your bank deposits with...
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Mar 21, 2023
03/23
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reports that treasury secretary janet yellen she may be prepared to give all depositors silicon valley treatment. i'm not really sure that is what she is going to do. she did say quote, the steps we took are not focused on aiding specific banks or classes of banks, uh-huh, wink-wink. our intervention was necessary to protect broader u.s. banking system. similar actions could be warranted if smaller institutions suffer deposit runs pose risk of contagion. a lot of that stuff is up for interpretation. for me i think that statement could be a too little, too late. we're way off the highs of the morning. a portfolio manager that i follow points out that the recent banking problems reminds us that the economy is facing what he call as trifecta of macro imbalances. this is rarely ever happened. the debt problems of the 1990s, we're 98 percentile of that. only 2% of the time has this problem been worse. speculative environment of the 1990s, only 1% of the time the market has been this speculative, expensive in history. inflation of 1970's. 88%. only 12% of the time we've seen that kind of ris
reports that treasury secretary janet yellen she may be prepared to give all depositors silicon valley treatment. i'm not really sure that is what she is going to do. she did say quote, the steps we took are not focused on aiding specific banks or classes of banks, uh-huh, wink-wink. our intervention was necessary to protect broader u.s. banking system. similar actions could be warranted if smaller institutions suffer deposit runs pose risk of contagion. a lot of that stuff is up for...
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88
Mar 26, 2023
03/23
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what did you learn from janet yellen and how was that? you also spoke with mr. becerra about the home security situation. walk us through what you learned this past week. >> what i learned from janet yellen is she is dethe tavern thed from reality -- detached from reality as the president is. admiral mike mullen said the greatest threat to our national security is our department and deficit, that's when it was $14 trillion. now the treasury secretary was before the finance committee talking about president biden which will drive that debt up to $50 trillion, and she wouldn't even commitment the spending was a mayor -- admit the spending was a major contributor. of course, we had hhs secretary becerra rah in front of us. we've been trying to get the last 50 pages of the fauci e-mails. they've allowed us to look at 350 pages in 50-page tranches in reading rooms, can't make copies, but we can write down what we're finding. we've been i trying to get those the over a year. the has to do with the origin of covid. the secretary complained that he wasn't getting cooper
what did you learn from janet yellen and how was that? you also spoke with mr. becerra about the home security situation. walk us through what you learned this past week. >> what i learned from janet yellen is she is dethe tavern thed from reality -- detached from reality as the president is. admiral mike mullen said the greatest threat to our national security is our department and deficit, that's when it was $14 trillion. now the treasury secretary was before the finance committee...
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Mar 23, 2023
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larry: in just the last hour, janet yellen's flip flopped again in front of congress about guaranteeing uninsured deposits. i can't stand it. but anyway, no one ever flip-flops with elizabeth macdonald. that's why you have to watch the show. elizabeth you're the best, larry i don't know the flip flopping is making my head spin. it's great to have you and to see you, larry. okay, now, talk about flip-flops there's another turn in the manhattan da's case against former president trump. it goes beyond the news the grand jury is again not meeting until monday. this case is falling apart by the hour. also, well manhattan da bragg get subp oenaed in a house gop probe? he's fighting that probe and the media walking away after it again claimed the walls were closing in on trump. with us tonight, brian style, mike johnson, congressman brad w instrop, james freeman from the jeff sessions journal, carol roth, and the hill's john concha. more state attorney's general now blame the white house for the current bank crisis and we have a new ap poll, the president's approval rating against plunges to n
larry: in just the last hour, janet yellen's flip flopped again in front of congress about guaranteeing uninsured deposits. i can't stand it. but anyway, no one ever flip-flops with elizabeth macdonald. that's why you have to watch the show. elizabeth you're the best, larry i don't know the flip flopping is making my head spin. it's great to have you and to see you, larry. okay, now, talk about flip-flops there's another turn in the manhattan da's case against former president trump. it goes...
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Mar 21, 2023
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second, of course, you've got the two most important people in finance, jamie dimon and janet yellen, they're both working their back sides off to solve this problem. don't bet against them. stuart: there is the an etf for regional bank, i think, iat? >> yes, absolutely. that way -- you know, i can't tell you whether first republic's going to make it, but as an asset class,es it will work, so you can do yourself a favor by getting a nice diversified bundle. stuart: the up 6% this morning. did you buy -- [laughter] quickly, the fed if tomorrow, prediction. do they raise a quarter point, 25 basis buoyants -- points, or do they pause in. >> it's difficult to know because you've got bank chaos versus inflation, i think the bank chaos is right in front of them. as i mentioned, you've got yellen and jamie dimon working on solving the problem, do they want to rain on parade? i think their best move is another the nothing, pause, assess situation, don't make that yield curve further inverted and put difficulty for all the banks in the world really. stuart: if they paused, no rat hike, very go
second, of course, you've got the two most important people in finance, jamie dimon and janet yellen, they're both working their back sides off to solve this problem. don't bet against them. stuart: there is the an etf for regional bank, i think, iat? >> yes, absolutely. that way -- you know, i can't tell you whether first republic's going to make it, but as an asset class,es it will work, so you can do yourself a favor by getting a nice diversified bundle. stuart: the up 6% this morning....
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Mar 30, 2023
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if janet yellen doesn't know because she's not managing things well, that's not good. if she did know and she's pretending nod -- not to, that's not good either. stuart: it reminds me correctly of lois lerner. -- directly. >> and there are a couple of things there too. the irs has a history of going after political opponents of the left using the bureaucratic tools at their disposal. in the irs situation, people thought maybe president obama ma personally directed lois lerner. that's not necessary because our bure rock to says are so filled with people on the left, they don't need personal direction. and that could be the case here with matt taibbi as well, but i cohope that oversears in congress will call -- overseers will call on these agents and make them explain what they were doing and anyone else involved. stuart: knowing jim jordan, i think he'll press hard. mollie hemingway, thank you very much for being here. >>> back to the markets, a little bit of green right there, left-hand side of the screen. the cow's up 80 -- dow's up 80, the nasdaq's up over 100 points
if janet yellen doesn't know because she's not managing things well, that's not good. if she did know and she's pretending nod -- not to, that's not good either. stuart: it reminds me correctly of lois lerner. -- directly. >> and there are a couple of things there too. the irs has a history of going after political opponents of the left using the bureaucratic tools at their disposal. in the irs situation, people thought maybe president obama ma personally directed lois lerner. that's not...
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Mar 17, 2023
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i'm not sure what janet yellen was saying half the time in that testimony. liz: we take that to heart. so all bank customers will pay higher fees because of what's going on. the democrats say it was to stop a meltdown between small and medium size banks. roku had $490 million in svb. when you hear that part of the story, how do you come down on that? should they have let the bank fail or could they have contained it and kept it alive with federal reserve loans until it was set off to satisfy the depositors. >> the fed knew a long time ago deposits were leaving. i saw a ceo of a swedish pension fund say he went to talk to them about make an investment in the bank and he knew then that the deposits were leaving quickly. i think everyone was asleep, and now the rest of the world will have to pay for this. liz: 4%, 5% treasury yields, of course it's going to happen when you raise rates. i want to read this to you from kimberley strassel at the "wall street journal." she is saying the svb collapse is the easy money rule. the bank for startups, maybe didn't have a
i'm not sure what janet yellen was saying half the time in that testimony. liz: we take that to heart. so all bank customers will pay higher fees because of what's going on. the democrats say it was to stop a meltdown between small and medium size banks. roku had $490 million in svb. when you hear that part of the story, how do you come down on that? should they have let the bank fail or could they have contained it and kept it alive with federal reserve loans until it was set off to satisfy...
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Mar 22, 2023
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liz: i don't understand why janet yellen, the treasury secretary, is saying no taxpayer dollars will be used to insure everybody. >> liz, this is -- >> liz, that's -- >> oh, go ahead. >> that's just politics. yeah, that's just politics. it's not really going to be taxpayer dollars, it's going to be inflation. see, every american whether they pay taxes or not is going to bear the cost of these bank bailouts in this new financial -- liz: we don't have enough money. look on the screen, peter. the fdic has $18 billion -- 12 billion in its -- 128 billion if in its coffers, this would cost $17 trillion. >> they have nothing. the fed is going to print it. the fed's balance sheet is going to explode. liz: so concern okay. >> and the value of the dollar is going to implode, and the cost of living in the united states is going to double, triple, quadruple, and it's going to impoverish the vast majority of americans. and they need to know reason they're going to be so poor is because of of the government. it's not because of the free market, because we don't have one. it's because of big govern
liz: i don't understand why janet yellen, the treasury secretary, is saying no taxpayer dollars will be used to insure everybody. >> liz, this is -- >> liz, that's -- >> oh, go ahead. >> that's just politics. yeah, that's just politics. it's not really going to be taxpayer dollars, it's going to be inflation. see, every american whether they pay taxes or not is going to bear the cost of these bank bailouts in this new financial -- liz: we don't have enough money. look on...
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Mar 10, 2023
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janet yellen personally saying that she has looked at this and is following this. there's a lot of effort right now to see who, if anyone, would scoop up this bank as rates go downturned fears that this couls that that this could spread. there's no indication of bank runs anywhere else. what we are seeing in the bank stocks, though down, they are well off their lows and nothing like the big hits we were seeing yesterday. for example, in the case of silicon valley, big problem was just finding a floor, and they couldn't find a floor. opening up and looking to open up more than 60% down on top of 40% plus losses yesterday. never got the chance. it was forced to shut down, and now it's going to be recognized as the first financial collapse since the meltdown. other banks are well off their lows even though those look like some eye-popping dethe kleins here, but a lot of concern declines here, but a lot of this was sort ofage anticipate thed, if i can use the right word there, but the employment report. it was very strong. and it once again raised the likelihood even w
janet yellen personally saying that she has looked at this and is following this. there's a lot of effort right now to see who, if anyone, would scoop up this bank as rates go downturned fears that this couls that that this could spread. there's no indication of bank runs anywhere else. what we are seeing in the bank stocks, though down, they are well off their lows and nothing like the big hits we were seeing yesterday. for example, in the case of silicon valley, big problem was just finding a...
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Mar 16, 2023
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kennedy: the night is young. >> hey. >> same day, janet yellen, again, i always -- i get hungry, i think of quaker oaks. when i see her. >> hey good one. >> she sat out there and lied th threw her teeth about what the economy was like when joe biden took office about how they needed the giant rescue plan it was just, struggling from covid, that is lies, it was growing, growing at a good clip, inflation was not there and that the biggest problem with you have tremors in banking system. getting rich people in silicon val they did not need a bailout, i said that from moment one, they just bailed out the richest sliver of this nation. kennedy: gross. >> disgusting, anyway. when you have people who have lied to american people for two years, yellen, kamala harris, and joe biden, again this a cocktail of like butter milk and begin. gin, they can't get up there and reassure american people. nobody believes them. they make matters worse. kennedy: government is making it worse. i don't know if you know it brian brenberg, some of my libertarian friends and i have been saying. end the fed, i saw yo
kennedy: the night is young. >> hey. >> same day, janet yellen, again, i always -- i get hungry, i think of quaker oaks. when i see her. >> hey good one. >> she sat out there and lied th threw her teeth about what the economy was like when joe biden took office about how they needed the giant rescue plan it was just, struggling from covid, that is lies, it was growing, growing at a good clip, inflation was not there and that the biggest problem with you have tremors in...
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Mar 28, 2023
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chairman there ahead of the janet yellen speech on this on thursday. hear from arkansas congressman french hill. we spoke with him a moment ago. coming up, tennessee senator bill haggerty on these hearings. true churs are moving this -- futures are moving this morning. the dow industrials down 1 point, nasdaq is up 2 points, s&p 500 down just a fraction. this after a mixed day yesterday on wall street. investors appearing less rattled by the banking sector stress. the dow industrials were up 195 yesterday, the nasdaq was down 55. european markets this morning look like this. the eurozone actually with a firmer tone earlier, the ft 100 higher by 3 points, cabbing cace up 9 points, dax higher by 22. markets fished mostly higher in asia, korea and hong kong had gains of 1% each. then there's this, a blockbuster story, why did the irs send an irs agent to the home of journalist matt taibbi on the very day he was testifying in front of congress on the twitter files. house judiciary committee chairman jim jordan writing an explosive letter to the irs demandi
chairman there ahead of the janet yellen speech on this on thursday. hear from arkansas congressman french hill. we spoke with him a moment ago. coming up, tennessee senator bill haggerty on these hearings. true churs are moving this -- futures are moving this morning. the dow industrials down 1 point, nasdaq is up 2 points, s&p 500 down just a fraction. this after a mixed day yesterday on wall street. investors appearing less rattled by the banking sector stress. the dow industrials were...
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Mar 21, 2023
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katherine, let me tell you that janet yellen is speaking to bankers association today and u.s. actions on u.s. stability show resalute commitment to ensuring deposters. what are we seeing right now in front of our faces? jamie dimon leading other banks to do just that. >> well, the markets believe that's for sure 300 points yesterday and more than 200 futures today and i think markets do believe janet yellen. i believe it's unsystematic risk at this point, bad actors in certain pockets to have financial system. certainly there are going to be some defaults, maria, that's part of the economic cycle when you have poor decisions and high-yield bonds that are overleveraged companies that are going to have problems complying with their obligations when interest rates rise so drastically as they have will be. the fed is going to hike 25 basis points. it has to hike 25 basis points. it has dual mandate. it has to comply with that. if they do not hike this week, tomorrow, maria, this is going to be a huge additional shock to credibility and they're very focused on that. they have to re
katherine, let me tell you that janet yellen is speaking to bankers association today and u.s. actions on u.s. stability show resalute commitment to ensuring deposters. what are we seeing right now in front of our faces? jamie dimon leading other banks to do just that. >> well, the markets believe that's for sure 300 points yesterday and more than 200 futures today and i think markets do believe janet yellen. i believe it's unsystematic risk at this point, bad actors in certain pockets to...
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Mar 17, 2023
03/23
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senator lankford tearing into janet yellen and bank bailouts. >> is your plan to keep large depositors from moving their funds out of community banks into big banks. >> that's not something we are encouraging. it is happening because depositors are concerned about the bank failures that happened and whether or not other banks could fail. >> you are fully insured if you are in a big banks bank, not if you are in a community bank. stuart: ryan payne joining us this morning. do you think the banking crisis is a little bit contained? >> markets shift this week which is surprising, i think the fed credit facility basically said we have ensured every deposit which arguably might be problematic but the reality is it is functioning normally. haven't had a run on any bank since the weekend, and it is destabilized. >> however, on this show we have several people say, in the long run from this crisis, to big banks now. >> big banks more power. i'm not a big fan of monopolies. the banks sold off the banking crisis, it is cheaper than it does, 3% yield. stuart: morgan stanley, that is not good. are
senator lankford tearing into janet yellen and bank bailouts. >> is your plan to keep large depositors from moving their funds out of community banks into big banks. >> that's not something we are encouraging. it is happening because depositors are concerned about the bank failures that happened and whether or not other banks could fail. >> you are fully insured if you are in a big banks bank, not if you are in a community bank. stuart: ryan payne joining us this morning. do...
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Mar 16, 2023
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critics going after treasury secretary janet yellen. her senate testimony had one big takeaway. they will decide who to bail out. they bail out the rich and would guarranty uninsured deboss is for silicon valley bank. america has never done that. community bankses with low income depositors, nothing not on their watch. secretary yellen admitted they get to decide on their own ad hoc on the fly which depositors with uninsured deposits get a bailout. that's the issue. you can't jump that shark in this nation. more and more white house officials sound more and more stonewalling infuriating like mayorkas and out of touch reality on the border. white house is on tv. men of time for late-night show appearances glitzy photo-ops, when it matters ops, no shows. no shows at pal teen, ohio. no shows at the border. where is the east palestine victims compensation fund. obama set one up for the bp oil spill. where is theirs? send emails to emacviewers@fox.com. we read them all. join us tomorrow. forbes media steve forbes, laffer-tengler ceo, nancy tengler. much, much more coming up. we're st
critics going after treasury secretary janet yellen. her senate testimony had one big takeaway. they will decide who to bail out. they bail out the rich and would guarranty uninsured deboss is for silicon valley bank. america has never done that. community bankses with low income depositors, nothing not on their watch. secretary yellen admitted they get to decide on their own ad hoc on the fly which depositors with uninsured deposits get a bailout. that's the issue. you can't jump that shark in...
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Mar 21, 2023
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okay, hang on to your hat janet yellen bailing out banks today. edward lawrence top white house correspondence at the white house for fox business. i ha
okay, hang on to your hat janet yellen bailing out banks today. edward lawrence top white house correspondence at the white house for fox business. i ha
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Mar 30, 2023
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here's janet yellen. role it. >> during the few hours he's appearing before congress, irs agent leaves him a note, have you heard this? >> i've not. stuart: not aware? when does the political spin end? white house okay a massive oil and gas sale in the gulf of mexico, from climate activists who want to block them all. got the story. a train derailed earlier in minnesota prompting a town to evacuate. we speak to minnesota congressman on what residents need to know, that's next. ♪ ople like sam who make...? ...everyday products... ...designed smarter. like a smart coffee grinder - that orders fresh beans for you. oh, genius! for more breakthroughs like that... ...i need a breakthrough card... like ours! with 2.5% cash back on purchases of $5,000 or more... plus unlimited 2% cash back on all other purchases! and with greater spending potential, sam can keep making smart ideas... ...a brilliant reality! the new ink business premier card from chase for business. make more of what's yours. as a business owner
here's janet yellen. role it. >> during the few hours he's appearing before congress, irs agent leaves him a note, have you heard this? >> i've not. stuart: not aware? when does the political spin end? white house okay a massive oil and gas sale in the gulf of mexico, from climate activists who want to block them all. got the story. a train derailed earlier in minnesota prompting a town to evacuate. we speak to minnesota congressman on what residents need to know, that's next. ♪...
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Mar 31, 2023
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means that janet yellen a meets regularly said we are inner going back to 2% inflation again telegraphing fed is going to accept inflation above 2% need to top stalking about it or asking if fed policy regarding nation has changes long term. >> congresswoman secretary yellen questions commentary about her perform as treasury secretary, you're great on her right now. >> i will give her an f, without a doubt in front of ways and means committee refused to identify the fact people make less than 400,000 dollars are paying tremendous amount more in taxes kept insisting, sticking to talk point. >> you have democrats biden administration insisting decreasing regulations insisting kreefgs government spending trillion dollars dollars we don't have, insisting on more control or tornado model republican model that looks at american exceptionalism investing in innovation in research and development americans to say have more money to grow their businesses in future again when i was mayor of irving concentrating on bringing more businesses in recognizing the fact if you allow them to have light regul
means that janet yellen a meets regularly said we are inner going back to 2% inflation again telegraphing fed is going to accept inflation above 2% need to top stalking about it or asking if fed policy regarding nation has changes long term. >> congresswoman secretary yellen questions commentary about her perform as treasury secretary, you're great on her right now. >> i will give her an f, without a doubt in front of ways and means committee refused to identify the fact people make...
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Mar 30, 2023
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janet yellen, treasury secretary, regulators might need to tighten some rules in the wake of the bank collapse. i always remember that reagan line, i'm from the government i'm here to help. i take nothing against her or the government, if they're trying to fix something with more regulations we have quite a few there is, maybe they're not adhered to, maybe the reb regulators are the problem, not the regulations, i wonder what you think of that? >> a couple of things they outlined do make some sense. extending the stress tests and liquidity coverage ratios down to smaller, mid-tier, smaller banks. makes some sense in that kind of an environment. we see how quick it is to move money. when we used to think about bank runs during the great depression, 50's, '60s, '70s, there were lines out of bank. there took a while to have money move through each person. now we have it on our phones. that can happen most rapidly. neil: much worse than 15 years ago from the meltdown. that seemed like it was going at a hyperbolic rate. now almost the speed of light. how do you control that? >> yeah. well
janet yellen, treasury secretary, regulators might need to tighten some rules in the wake of the bank collapse. i always remember that reagan line, i'm from the government i'm here to help. i take nothing against her or the government, if they're trying to fix something with more regulations we have quite a few there is, maybe they're not adhered to, maybe the reb regulators are the problem, not the regulations, i wonder what you think of that? >> a couple of things they outlined do make...
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Mar 28, 2023
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what are we supposed to believe about the banking sector when janet yellen keeps going back and forth, she wants to secure all deposits and then she can't secure all deposits, talking about $18 trillion in deposits. should the government be securing all deposits? >> no, i don't think so, maria. i don't think that's a good idea right now. i think these are relatively isolated cases, unique business strategies at signature bank in new york and silicon valley bank in california. they had a concentrated business with high net worth individuals, high amounts of deposits above the uninsurance limit and they were running strategies had that put them at risk in a rising interest rate environment. and that's something that was known. this is not a surprise that we were raising interest rates since the pandemic. we needed to do what that. in fact, the fed is late from the pandemic and that's why i think the steepness of the interest rate increase, the fastest in 40 years, is because the fed fed was late that. president put bank strategies at risk. bank management, customers and supervisors all
what are we supposed to believe about the banking sector when janet yellen keeps going back and forth, she wants to secure all deposits and then she can't secure all deposits, talking about $18 trillion in deposits. should the government be securing all deposits? >> no, i don't think so, maria. i don't think that's a good idea right now. i think these are relatively isolated cases, unique business strategies at signature bank in new york and silicon valley bank in california. they had a...
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Mar 14, 2023
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you know, i mean here we have 40-year high inflation, we had treasury yield secretary janet yellen and jay powell from fed telling us inflation was transitory we are watching inflation cutting into wages. we have bank failures now. the second and third largest bank failure ever, all partly a result of these widely easy policies from federal reserve zero interest rates for 15 years. what is going to happen what are you going to do about it sitting on financial services committee? >> well the fed in near term important thing to be an adult not assign political blame right now but oversight over the federal regulators to make sure we eliminate any systemic risk restore financial stability to extent possible protected uninsured depositors payroll out there without a taxpayer bailout ultimately longer term we're going to have oversight hearings about underlying cases you are absolutely right underlying causes failure not only lack of regulation but inadequate bank supervision did regulators need to do soufl searching about extra curricular pill errands instead of bank supervision the regula
you know, i mean here we have 40-year high inflation, we had treasury yield secretary janet yellen and jay powell from fed telling us inflation was transitory we are watching inflation cutting into wages. we have bank failures now. the second and third largest bank failure ever, all partly a result of these widely easy policies from federal reserve zero interest rates for 15 years. what is going to happen what are you going to do about it sitting on financial services committee? >> well...
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Mar 15, 2023
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. >> you had janet yellen, janet yellen on friday talking about how the banking sector is resilient. so resilient we needed a depositor bailout two days later. that is how resilient it was. not saying today's action is credit suisse, credit suisse, i will just say credit suisse some respects is too big to fail. the question is, what is the endgame? the endgame they need capital. charles: right. >> maybe it turns out -- charles: got less than a minute to go, i got to ask you, got to get this in, i think it was last week you were talking about a major drop in the stock market even before the you know what hit the fan. how do you feel right now? >> right. well, it is happening more quickly than i thought. i wasn't trying to time it. i was telling everybody what the endgame is. the endgame is recession. this credit contraction that we're going to be seeing, it already started. it will be reinforced, brings a recession into fuller view. kneel talked about first quarter gdp. that is in the rear view mirror. the recession is starting in the second or third quarter. brian moynihan mentioned
. >> you had janet yellen, janet yellen on friday talking about how the banking sector is resilient. so resilient we needed a depositor bailout two days later. that is how resilient it was. not saying today's action is credit suisse, credit suisse, i will just say credit suisse some respects is too big to fail. the question is, what is the endgame? the endgame they need capital. charles: right. >> maybe it turns out -- charles: got less than a minute to go, i got to ask you, got to...
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Mar 17, 2023
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treasury secretary janet yellen was pressed at the senate finance committee hearing yesterday about the lack of a plan for social security in the middle of all of this. watch this. >> why doesn't the president care? enter he cares very deeply -- >> then where is his plan? >> he stands ready to work with -- >> that's a lie, because on a bipartisan group of senators has repeatedly requested to meet with him about social. we have not heard anything on our request, and we've made multiple requests to meet with the president. that is a fact. and if you've been told to say he stands ready to meet, i will tell you there's absolutely no evidence because we have not gotten our meeting. maria: so where is this going, senator? we are talking about fragile i'ms to the macro economy. -- times. we've gotten bank failureses, we've got a slowing economy, the federal reserve still raising interest rates, and now you're sitting on the doorstep of a massive fight over the debt ceiling, and you just heard that exchange. >> yeah. this is the president's m.o., you know, when i was governor, i asked the presi
treasury secretary janet yellen was pressed at the senate finance committee hearing yesterday about the lack of a plan for social security in the middle of all of this. watch this. >> why doesn't the president care? enter he cares very deeply -- >> then where is his plan? >> he stands ready to work with -- >> that's a lie, because on a bipartisan group of senators has repeatedly requested to meet with him about social. we have not heard anything on our request, and we've...
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Mar 24, 2023
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you have the ability of the federal reserve and congress and janet yellen to basically guarantee these deposits and take the pressure off. this was just bad management by banks that mismanaged their duration. so we think the real issue is a commitment to stomp out inflation. and many people have not seen the effects of inflation. i mean, most money managers, an are lists in everybody's experience, a long time of cutting interest rates. so if the market can't handle a 4-5% treasury in this economy, then we've got a bigger problem. liz: yeah, i know. but, listen, investors cannot figure out exactly what the fed is going to do minute by minute, although the fed funds futures are showing there's going to be a pause at the may meeting. so, tom, if we cosee that pause or if we don't because, again, or we have no idea, give me a sense of where you put the money right now. if you're looking to spend some on equities, at least names that have pulled back. >> yeah. well, one we hike has been completely left for dead, and that's paypal. it's down 75% from its pandemic highs. they're trading at 13
you have the ability of the federal reserve and congress and janet yellen to basically guarantee these deposits and take the pressure off. this was just bad management by banks that mismanaged their duration. so we think the real issue is a commitment to stomp out inflation. and many people have not seen the effects of inflation. i mean, most money managers, an are lists in everybody's experience, a long time of cutting interest rates. so if the market can't handle a 4-5% treasury in this...
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Mar 13, 2023
03/23
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FBC
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we have janet yellen telling us inflation was trans t tri. -- transitory. >> janet yellen is saying the bank problems are because of higher interest rates. where do those come from? maybe from fighting inflation. really, you can't make this up. maria: you really can't. we're just getting started. we're talking about the panic that was evident all weekend for the banking sector. investors are piling into the safety of gold and bonds this morning following the fallout of silicon valley bank. we are going to talk about the threat at hand for the bank aing system, next -- banking system, next. meet a future mom, a first-time mom and a seasoned pro. this mom's one step closer to their new mini-van! yeah, you'll get used to it. this mom's depositing money with tools on-hand. cha ching. and this mom, well, she's setting an appointment here, so her son can get set up there and start his own financial journey. that's because these moms all have chase. smart bankers. convenient tools. one bank with the power of both. chase. make more of what's yours. (vo) the fully electric audi e-tron family is
we have janet yellen telling us inflation was trans t tri. -- transitory. >> janet yellen is saying the bank problems are because of higher interest rates. where do those come from? maybe from fighting inflation. really, you can't make this up. maria: you really can't. we're just getting started. we're talking about the panic that was evident all weekend for the banking sector. investors are piling into the safety of gold and bonds this morning following the fallout of silicon valley...
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46
Mar 23, 2023
03/23
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everyone wants the absolute assurance that i don't think janet yellen could give yet. neil: the fact she couldn't and didn't, i wonder if it says something about maybe even 15 years after the fact how burnt we are from the financial meltdown, always waiting for another lehman moment, merrill lynch moment. merrill lynch sold under duress to bank of america, and i wonder when you see that, a lot of institutions, overwhelmingly majority, yourself included are in very good financial shape? but fear begets fear, if there is a selling wave it has no rhyme or reason. it is irrational, but it is clearly damaging. do you see anything like that? in other words even flight of money from some small, medium-sized banks to big ones? that is a phenomena picked up steam over the last week or so? >> absolutely has. we've been a beneficiary. i think there are a lot of really good banks lost some deposits to the bigger banks just as people flee to safety. they may flee to treasurys, what they think money market funds, prime fund the with government securities or fdic insured deposits, yo
everyone wants the absolute assurance that i don't think janet yellen could give yet. neil: the fact she couldn't and didn't, i wonder if it says something about maybe even 15 years after the fact how burnt we are from the financial meltdown, always waiting for another lehman moment, merrill lynch moment. merrill lynch sold under duress to bank of america, and i wonder when you see that, a lot of institutions, overwhelmingly majority, yourself included are in very good financial shape? but fear...