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Don’t Call it a Bailout

Start Here

ABC News

News, Daily News, Politics

4.56.4K Ratings

🗓️ 14 March 2023

⏱️ 32 minutes

🧾️ Download transcript

Summary

President Biden insists a plan to reimburse bank deposits over the federal limit shouldn’t be called a “bailout.” Approval for an Alaska oil drilling venture is blasted by climate advocates. And as the COVID pandemic enters its fourth year, increasingly alarmed disability activists beg neighbors not to “move on.” Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

It's Tuesday, March 14th, and whatever you do, the federal government doesn't want you

0:04.0

using the B word start here.

0:09.0

No losses will be borne by the taxpayers.

0:11.0

After federal intervention to save multiple banks, the president insists this isn't a bailout.

0:17.0

This fund is a pile of cash that banks pay into already.

0:20.0

So who's paying depositors their money back and could dissolve change the plan to fight inflation?

0:25.0

Meanwhile, the White House is losing capital with climate activists.

0:28.0

The complaints about it are that it will lock in the use of fossil fuels for the lifetime of this project.

0:35.0

Drill Biden Drill, the newly approved plan that is roiling Alaska,

0:39.0

and as the pandemic enters year four, some feel more at risk than ever.

0:44.0

By what metric are we post COVID?

0:46.0

Increasingly vocal groups are asking what's really changed.

0:51.0

From ABC News, this is Start Here. I'm Brad Milky.

0:59.0

The New York Times

1:03.0

What I've learned in the last few days is just how specialized some regional banks can be.

1:09.0

Like Silicon Valley Bank, the one you've been hearing about, it's not just a name.

1:12.0

To many people in Silicon Valley, this was the bank for the tech world.

1:16.0

You wanted a loan, you went here.

1:18.0

Which makes a certain kind of sense, right?

1:20.0

In places where one industry is more dominant than others, those banks are going to work a lot more with people in that industry.

1:26.0

A bank in coal country might have more money tied up in the energy sector.

1:30.0

And yet when that industry has a crisis, the way a lot of tech companies have been in crisis mode lately,

...

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