Our two of Clay and Buck starts right now and we said we get into the banking crisis and also Biden's

first veto of his presidency and we will dive into it right now. Janet Yellen is out.

The first of all let's just let's just take a moment to see where we are. We'll talk about the

treasury secretary is saying and then why Biden's first veto really does tie in very much to

the economy and the financial woes that have been fallen us. But first off here's the situation.

Yellen has to calm everybody down. So she's saying the situation is stabilizing. It's fine. UBS has

purchased credit suites a Swiss bank for a bargain basement price. Why does that matter to anybody

listening? These are massive financial institutions with account holders all over the planet and

the reason that they're going or rather the reason that credits weses in trouble. Sure,

there's a lot of things archaicos right they've had they've done some they've had some bad things

go down there in the last you know few years. But ultimately it's about getting on the wrong side

of rates not being able to get the yield they need making bad decisions a lot of banks including

here in America obviously are in a similar position and there could be a whole heck of a lot more.

Here is Yellen trying to tell everybody first of all don't worry. It's not like it was in 2008

play five. Well we don't yet have all the details about the collapse of the two banks.

We do know that the recent developments are very different than those of the global financial crisis.

Back then many financial institutions came under stress due to their holdings of subprime assets.

We do not see that situation in the banking system today. Our financial system is also

significantly stronger than it was 15 years ago. Okay Clay couple of things that jump out

to me right away. I'm talking to all my finance people including family members who have many many

decades between them and working on Wall Street and one thing is yeah in 2008 the debt was

$10 trillion. Now it's $31 trillion and we're going into a rising interest rate period where just

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