This is CBS I On The World.

Here's John Batchler.

Janet Yello, the Secretary of the Treasury former chairman of the Federal Reserve,

making remarks that the U.S. government, the Biden administration, is prepared to ensure

all deposits in all banks if needed in this present turmoil over small, regional banks

and international banks and questions about trust.

Trust, questions about credit, questions about the high inflation numbers in Europe and

the United States, questions about China.

All that comes down to are, is our money secure in the banks.

I welcome Elizabeth Peake, a columnist at the Hill, a columnist at Fox News, much on Fox

Business.

Liz suddenly, the 1933 bank act by FDR to stabilize the closed and crisis banks of the

Depression era is back with us.

That's where the FDIC was born.

I learned from studying these last days.

And since then, the amount that is insured has been raised steadily.

The last time it went from 100,000 to 250,000.

But now the administration is indicating there will be no cap.

Is that good thing, Liz?

Is that welcome by bankers?

Good evening to you.

Good evening.

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