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This is the Friends Vista Debating Society, I'm John Bachelor. I welcome Jim McTague,

former Washington Editor of Barence to comment on the news, swimming all around us about the

bank crisis in California. The Silicon Valley Bank taken over by regulators,

federal and California regulators on Friday, before close of business. Now,

crypto-friendly signature bank shut down by regulators. This is Sunday night. After collapses

of Silicon Valley Bank Silvergate, crypto-friendly signature bank was one of the banks that was sold

off very sharply on Friday on the market. Another one was First Republic Bank. Jim, I come to you because

much in the news is the Secretary of the Treasury, former chairman of the Federal Reserve,

Janet Yellen, saying there will not be a bailout of these boutique banks and this very exotic

financial system that supports Silicon Valley. We're told Silicon Valley and Napa Valley. We're also

told. Is this a bailout when the federal regulators take over the bank and immediately assure people

as we have with this signature bank that everyone will be made whole? Is that a bailout or is that

something else, Jim? Good evening to you. Good evening, John. It's a bailout by another name.

Janet Yellen was on CBS this morning on television and she said they're absolutely no federal bailout,

no taxpayer money involved. And by evening time, there's a federal bailout and we don't know the exact

mechanism. I think it's the federal reserve is going to make loans to troubled banks

...