This is CBS I On The World. I'm John Batchett with Elizabeth Peek of the Hill

Occalments of Fox News Occalments, much on Fox Business. We've been commenting on

the banking crisis that started with the failure of a banking in California and

between Friday when the bank was taken over by regulators and these next

hours the confidence of the American people depend upon the confidence of

their leaders and it's a measure not of partisan politics but of what was

presented adequate to the facts that we now review. The one that comes to mind

is not Jerome Powell, the chairman of the Federal Reserve, who has been very clear

about his course for fighting inflation but the secretary of the Treasury, Janet

Yellen, Janet Yellen who is a former chairman of the Federal Reserve. Janet

Yellen was quick, very quick to continue to say not a bailout, not a bailout,

not a bailout. I don't know why but that was the decision made as if there was

something negative about bailing out people in trouble. Perhaps an equity

issue. I don't know. It's all a matter of politics which is why I turned to

Liz. Liz, can you make sense of why Janet Yellen wanted to emphasize that on

Sunday it was clearly a bailout. We don't have to prove it. The depositors with

more than $250,000 in this Silicon Valley bank are going to be made whole and

they're going to be made whole by an extra charge to the FDIC paid by the banks

and the banks are not going to eat that cost. They're going to pass it on to

depositors across the country. So why was it important to the administration

through Janet Yellen to say no bailout? Well, in fairness, they can draw some

distinctions. For example, the shareholders of Silicon Valley bank and the bondholders

...