♪ ♪ >> > > Jesse: IT WAS 2,000 S ON WALL SURFACE STREET. THE.COM BUBBLE HAD JUST BURST INDIVIDUALS'' S 401 (K)s WERE TANKING. BILLIONS AREY VAPORIZING MANY THANKS TO PANSY SCHEMERS LIKE MADOFF AND ALSO FIRMS WITH PREPARED SHEETS LIKE ENRODGE WERE FALLING DOWN. WALL ROAD WAS TOO BUSY JUICING THEIR BONUSES TO BUY MANSIONS IN ECO-FRIENDLY ISSUE IN TO CARE. AND GORDON GECKO KEPT GAMING. >> > > FANNIE MAE AND ALSO FREDDIE MAC ARE 2 OF THE REALLY CRUCIAL TOOLS WE HAVE. PEOPLE THAT ARE CRITICAL OF THE PLANS THAT WE HAVE. I THERE IT IS CLEAR THAT FANNIE MAE AND ALSO FREDDIE MAC ARE COMPLETELY SAFEGUARD SO THEY ARE IN NO WONDERFUL THREAT. ONCE CONGRESS IS GETTING OUT AHEAD OF An ISSUE. MY PRIMARY PASSION AND I RECOGNIZE I SHARE THIS WITH OTHERS THAT RESPECT REAL ESTATE IS TO ENSURE ABSOLUTELY NOTHING IS SPENT THIS REAL ESTATE COMPANY TO WEEKENS THE RESPONSIBILITY OF FANNIE MAE.
>> > > Jesse: BARNEY FRANK SAID WHATEVER IS FINE AND KNEW WASHINGTON WAS ON THEIR SIDE. BANKS BEGAN CHAPG UP HOME LOANS LIKE SUSHI ROLLS AND PROVIDING HOMELESS BREAK HEADS NORTH GADGETS. CRACK HEAD, NO WORRY. HERE IS A JUMBO FUNDING. THIS IS A TRUE TALE. IF YOU WERE A STRAWBERRY PICKER AND ALSO DESIRED A BEACH HOME, WELLS FARGO WOULD BUY THAT YOU BEACH HOME. FINANCIAL INSTITUTIONS WERE AT EACH OTHER'' S THROATS OVER WHO COULD LOAN THE MANY. >> > > HOME LOAN FINANCES WERE INCREDIBLY LUCRATIVE TO FOR THE BIG BANKS. THEY MADE BILLIONS AS WELL AS BILLIONS ON THEIR 2% FEE. AFTER THAT THEY STARTED LACKING MORTGAGES ONLY SOME HOMES AS WELL AS PEOPLE WITH ADEQUATE JOBS TO ACQUIRE THEM. THE FINANCIAL INSTITUTIONS BEGAN FILLING THE BONDS WITH RISKIER AND ALSO RISKIER HOME MORTGAGES IN THIS WAY THEY CAN KEEP THAT HOME MAKER CHURNING, RIGHT? INCIDENTALLY, THESE RISKY MORTGAGES ARE CALLED SUBPRIME. SO WHENEVER YOU HEAR SUBPRIME, THINK [BLEEP]> > > Jesse: UNTIL ONE DAY ALL THAT CRASHED.
>> > > GOING TO BE ONE OF THE WASHINGTON SHED DAYS IN FINANCIAL MARKET HISTORY. >> > > LEHMAN HAS 25,000 WORKERS WILL BE LIQUIDATED. >> >'> I ' M TRYING TO FIND ANOTHER PERSON JOB. >> > > THIS WAS THE DAY WE WERE AGGRADE TO AWAKEN TO. THE PERSONAL BANKRUPTCY OF ONE KEY FINANCIAL INVESTMENT BANK THE SHOTGUN WEDDING EVENT OF ANOTHER PERSON. >> > > NO SILVER BULLET OF AN ECONOMIC CLIMATE THAT EXPERTS STATED TODAY IS LIKELY TO GET WORSE BEFORE IT GETS BETTER. >> > > IS YOUR MONEY SAFE? IS YOUR JOB SAFE? >> > > LEHMAN BROTHERS FAILED AND ALSO IT DOMINOD FANNIE AND FREDDIE AND ALL THESE BIG BANKS SIMPLY HOLDING WORTHLESS PAPER. THE REAL ESTATE MARKET COLLAPSED AS WELL AS SO DID THE STOCK EXCHANGE AND ALSO AS OPPOSED TO PUTTING ANY PERSON IN JAIL, WASHINGTON BAILED THEM OUT MOST OF US DISLIKED THE BANK BAILOUT ABOUT AS POPULAR AS An ORIGIN CANAL. BUT, WHEN I COMPETED PRESIDENT, I ASSURED I WOULDN'' T SIMPLY DO WHAT WAS POPULAR I WOULD DO WHAT WAS NECESSARY. I SUSTAINED THE LAST MANAGEMENT'' S INITIATIVES TO CREATE THE FINANCIAL RESCUE PROGRAM. AS WELL AS WHEN WE TOOK THAT PROGRAM OVER, WE MADE IT MORE TRANSPARENT AND ALSO EVEN MORE ACCOUNTABLE AS WELL AS BECAUSE OF THIS, THE MARKETPLACES ARE CURRENTLY STABILIZED.
>> > > AS OPPOSED TO THE HANDCUFFS, WALL SURFACE STREET TOOK THEIR GOLDEN PARACHUTE LEFT THE LITTLE MAN JOBLESS AND HOMELESS. WASHINGTON DECIDED THEY WERE GOING TO FIX THE TROUBLE SO THAT THIS NEVER HAPPENED AGAIN, WELL, UNTIL TODAY. >> > > SUPPLIES PLUNGED AFTER SILICON VALLEY FINANCIAL INSTITUTION SHUT AND WHAT IS NOW THE SECOND BIGGEST BANK COLLAPSE IN THE COUNTRY'' S BACKGROUND. FOR 40 YEARS SILICON VALLEY BANK WAS A BEST FOR STARTUPS. AS CUSTOMERS GOT CASH TO REMAIN AFLOAT AMID CLIMBING PASSION RATES AS WELL AS PRICES, THE FINANCIAL INSTITUTION FOUND ITSELF SHORT ON RESOURCES. SILICON VALLEY BANK EVOKE MEMORIES OF THE 2008 FINANCIAL CRISIS. TREASURY SECRETARY JANET YELLEN CLAIMS SHE IS CAREFULLY TRACKING THE SCENARIO. NEVERTHELESS, ECONOMISTS SAY A SIMILAR CAUSE AND EFFECT WITHIN THE BANKING INDUSTRY IS UNLIKELY. >> > > Jesse: AS WELL AS WHEN KRAMER SAYS BUY, YOU OFFER.
>> > > SVB FINANCIAL THIS SCP A MERCHANT FINANCIAL INSTITUTION WITH DEPOSIT BASE WALL SURFACE ROAD CONCERNED ABOUT. BOUGHT AMONG OUR FAVORITE COMPANIES AND ALSO COME TO BE LESS DEPENDING ON PRIVATE HE CAN AT THIS TIME AND ENDEAVOR RESOURCES OFFERINGS. WAIT A SECOND, THEY COULD RETURN. LONG-TERM EQUITY CAPITAL GOING AWAY? BEING THE BANKER SWIMMING POOLS OF RESOURCES HAS BEEN A GREAT BUSINESS. OFFER 40% RALLY IS BARELY A DROP IN THE CONTAINER. >> > > Jesse: I DIDN ' T UNDERSTAND ANY ONE OF THAT AND NOW THERE IS A WORK ON THE BANKS AS ANGRY CUSTOMERS STAND ONLINES THAT TWIST AROUND THE BLOCK. WAITING FOR TELL THEM TO DRAIN THE MONEY OUT OF THEIR 2 VARIOUS OTHER BANKS TEETERING NOT THE BIG CANINES. BIDEN CAME OUT TO SAY HE IS BAILING OUT THE BANKS ONCE AGAIN. >> > > TODAY MANY THANKS TO THE FAST ACTION OF MY ADMINISTRATION OVER THE PAST FEW DAYS AMERICA IS GOING TO HAVE CONFIDENCE THAT THE BANKING SYSTEM IS SAFE. YOUR DOWN PAYMENTS WILL CERTAINLY BE THERE WHEN YOU NEED THEM. SMALL BUSINESSES ACROSS THE NATION THAT DEPOSIT ACCOUNTS AT THESE BANKS CONTAINER BREATHE EASIER IN KNOWING THEY WILL CERTAINLY BE ABLE TO PAY THEIR WORKERS AND ALSO PAY THEIR BILLS.LET ME ALSO
ENSURE YOU WE WILL NOT STOP AT THIS. WE WILL DO WHATEVER IS NEEDED. ON TOP OF EVERY ONE OF THAT. >> > > Jesse: BIDEN ASSERTS IT'' S NOT A BAILOUT. AS WELL AS NO TAXPAYER CASH IS BEING USED. BUT HE IS ALSO THE PERSON THAT LIES AT ALL TIMES. HE SAYS $3.5 TRILLION SPENDING BILL EXPENSE ABSOLUTELY NOTHING, REMEMBER AND ALSO THE BOUNDARY IS SECURE. HOW ABOUT THAT? SO, WHATEVER BANKERS WANT, BANKERS GET. THAT'' S THE HILLSIDES MARKET OF AMERICA. TAKE A LOOK AT GREG BAKER, THE CHIEF EXECUTIVE OFFICER OF SILICON VALLEY RIGHT BEFORE HIS BANK WENT UNDER HE OFFERED $3.6 MILLION IN SUPPLY. ON FRIDAY BATHED HIS STAFF MEMBERS ON BONUSES.WAY GO, GUYS.
MAINTAIN THE GOOD WORK. THIS STUPID BANK IN CALIFORNIA DIDN'' T SEE RISING COST OF LIVING UPCOMING. THEY HAVE TO DO WITH AS WISE AS THE FED CHAIR. WHEN THE FED CHAIR LASTLY RAISED PRICES THE FINANCIAL INSTITUTION GOT CRUSHED. WHY WEREN'' T THEY FOCUSING? SILICON VALLEY BANK IS AWOKE BIDEN FINANCIAL INSTITUTION. THEY WERE HOLDING SEMINARS ON LESBIAN PRESENCE DAY N. AS WELL AS NATIONAL PRIDE MONTH. IF YOU WANT TO HOLD A PRIDE MONTH THAT'' S PENALTY YOU HAVE REACHED HAVE THE ABILITY TO CHEW PERIODONTAL AT THE EXACT SAME TIME AND STROLL. SO, WATCH ON THE EQUILIBRIUM SHEET, PEOPLE. SILICON VALLEY BANK MADE THEMSELVES TOO BIG TO FAIL WHEN THEY STARTED PUMPING MONEY RIGHT INTO CLEAN ENERGY. THE FINANCIAL INSTITUTION FINANCED SOLAR PANELS BIG TIME. THIS WAS BIDEN'' S ENVIRONMENT-FRIENDLY NEW BARGAIN FINANCIAL INSTITUTION. SO IF THIS FINANCIAL INSTITUTION STOPS WORKING SO DOES WIND'' S ECO-FRIENDLY PROGRAM. BIDEN CONTAINER'' T LET WOKE UP GREEN BANK IMPACT UP ON HIS WATCH. HE HAS AN POLITICAL ELECTION TO WIN. MONEY TO ELEVATE FROM THEUS THESE SILICON MONEY BANKERS. IRONIC BECAUSE THE BIDEN TEAM PRINTED AS WELL AS SPENT LIKE CRAZY IN LAVISHED ENVIRONMENT-FRIENDLY SUBSIDIES ON EVERYBODY.TRIGGERS RISING COST OF LIVING SO THEY HAD TO RAISE THE FEES AS WELL AS MELTED AWAY THE EXTREMELY BANK THAT FINANCED THIS SCRAP. BIDEN, SIMILAR TO THE TRAIN ACCIDENT, SIMILAR TO THE BOUNDARY, BLAME TRUMP. > > DURING THE OBAMA-BIDEN >> ADMINISTRATION. WE BUT THE IN LOCATION HARD REQUIREMENTS ON BANKS LIKE SILICON VALLEY FINANCIAL INSTITUTION AND TRADEMARK FINANCIAL INSTITUTION. INCLUDING THE DODD FRANK LEGISLATION TO SEE TO IT THAT THE CRISIS WE SAW IN 2008 WOULD NOT HAPPEN AGAIN. UNFORTUNATELY, THE LAST ADMINISTRATION CURTAILED SOME OF THESE REQUIREMENTS. > > Jesse: UNFORTUNATELY, BIDEN WOULDN '
>> T ANSWER ANY INQUIRIES REGARDING THE SECONDLY BECAUSE FINANCIAL INSTITUTION FAILURE IN AMERICAN BACKGROUND. HE JUST HAD SOMEWHERE ELSE TO BE. > > SEE YOU IN CALIFORNIA. >> > > MR. HEAD OF STATE, WHAT DO YOU UNDERSTAND TODAY ABOUT WHY THIS HAPPENED AND ALSO CAN YOU GUARANTEE AMERICANS THAT THERE WON ' T BE A CAUSAL SEQUENCE? > > BANKS HAVE FELL SHORT, MR. PRESIDENT? > > SHOULD ALL DEPOSITORS BE SHIELDED IN ALL BANKS? >> > > Jesse: IS THIS THE ONLY BANK THAT BIDEN GOING TO BOND OUT >> OR JUST AMONG LOTS OF? DON ' T FEAR, THE TREASURY ASSISTANT THAT IS HIDING SEEKER BIDEN ' S SKETCHY BANK CORD STATED EVERY LITTLE THING IS PENALTY. > > WHAT'I DO WISH TO DO IS EMPHASIZE THAT THE AMERICAN BANKING SYSTEM IS REALLY SAFE AND WELL CAPITALIZED.IT ' S DURABLE. > > Jesse: SIMILAR TO RISING COST OF LIVING IS CONTROLLED, WOMAN? I PUT ON ' T COUNT ON HER. IT ' S THE SAME PEOPLE WHENEVER. THE LENDERS, THE ENVIRONMENT-FRIENDLY DONORS, THE BARNEY FRANKS,'THE JOE BIDENS, THEY OBTAIN RICH, THEY GET BONUSES, THEY DUMP THE SUPPLIES, EVERYBODY OBTAINS BAILED OUT. NO PERSON MOSTS LIKELY TO PRISON. THEY TELL United States EVERY LITTLE THING IS FINE. THEY REDEFINE THE WORD BAILOUT AS WELL AS INFORM YOU IT ' S THE BEST ECONOMY IN AMERICAN HISTORY. SIMPLY NEGLECT THE BANK FAILURES AND ALSO DOCUMENT INFLATION. I DON ' T KNOW.
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