and somehow, i ended up here on hollywood's biggest stage. >> for all the little boys and girls who look like me watching tonight, this is a beacon of hope and possibilities. this is proof that dreams -- dream big and dreams do come true. >> amen. >> amen. amazing moments, all night last night at the oscars. so meaningful, for everyone, and so representative of the talent of the asian community. it was great to see. what a night. so thanks for being with us. a very busy morning. let's get straight to "cnn newsroom" as the president prepares to speak on the silicon valley bank collapse.

any moment now, president biden will address the nation from that podium right there amid concerning questions about potential contagion in the u.s. banking sector. what does that mean for your money? a very good monday morning to you. i'm jim sciutto. >> and i'm erica hill. president biden expected to try to calm fears in a matter of moments when he does make his way to that podium, this amid the failure of two u.s. banks. we're talking about silicon valley bank, which you've heard a lot of this weekend, as well as signature bank. the biden administration is taking emergency action here and there is the president. let's listen in. >> -- for california. i want to briefly speak about what's happening to silicon valley bank and signature bank. today, thanks to the quick action of my administration over the past few days, americans can have confidence that the banking system is safe. your deposits will be there when you need them. small businesses across the country that deposit accounts at these banks can breathe easier knowing they'll be able to pay

their workers and pay their bills. and hard-working employees can breathe easier, as well. last week, when he went learned of the problems of the banks and the impact that they could have on jobs of small businesses and banking systems overall, i instructed my team to act quickly to protect these interests. they've done that. they've done that. on friday, the government regulator in charge, the fdic, took control of silicon valley bank's assets and over the weekend, it took control of signature bank's assets. treasury secretary yellen and a team of banking regulators have taken action, immediate action. and here are the highlights. first, all customers who had deposits in these banks can rest assured, rest assured they'll be protected and have access to their money as of today. that includes small businesses across the country that bank there and need to make payroll, pay their bills, and stay open for business.

no losses -- and this is an important point. no losses will be born by the taxpayers. let me repeat that. no losses will be born by the taxpayers. instead, the money will come from the fees that banks pay into the deposit insurance fund. because of the actions of that -- because of the actions that our regulators have already taken, every american should feel confident that their deposits will be there if and when they need them. second, the management of these banks will be fired. if the bank is taken over by fdic, the people running the bank should not work there anymore. third, investors in the banks will not be protected. they knowingly took a risk and when the risk didn't pay off, investors lose their money. that's how capitalism works. and fourth, there are important questions of how these banks got into this circumstance in the first place. we must get the full accounting of what happened and why those responsible can be held

accountable. and my administration, no one is above the law. and finally, we must reduce the risks of this happening again. during the obama/biden administration, we put in place tough requirements on banks like silicon valley bank and signature bank. including the dodd/frank law to make sure that the crisis we saw in 2008 would not happen again. unfortunately, the last administration rolled back some of these requirements. i'm going to ask congress and the banking regulators to strength the rules for banks, to make it less likely this kind of bank failure would happen again. and to protect merp jobs and small businesses. look, the bottom line is this. americans can rest assured that our banking system is safe. your deposits are safe. let me also assure you, we will not stop at this. we'll do whatever is needed. on top of all of this, let's also take a moment to put the situation in a broader context.

we've made strong economic progress in the past two years. we've created more than 12 million new jobs. more jobs in two years than any president has ever created in a single four-year term. unemployment is below 4% for 14 straight months. take-home pay for workers is going up, especially for lower and middle-income workers. and we've seen record numbers of people apply to start new businesses, more than 10 million of them. more than 10 million applications over the last two years, starting businesses. now we need to keep the program of this progress going. that's what swift action that my administration over the past few years is all about. protecting depositors, protecting the banking system, protecting the economic gains we have made together for the american people. thank you and god bless you and may god protect our troops. see you in california. >> mr. president, what do you know right now about why this happened? and can you assure americans that there won't be a ripple effect? >> the president there with some notable comments, one,

addressing steps already taken by his administration. he says, americans can have confidence that the banking system is safe, your deposits will be there when you need them. that a step taken over the weekend. but by this morning, depositors will have access to their funds. also notable, erica, he said, that no losses will be born by taxpayers. this is going to be covered by fees paid into the system by banks. and bank leaders, the president said, will be fired. >> yeah, absolutely. let's bring in now senior white house correspondent, mj lee. cnn business, chief business correspondent, christine romans. so christine, starting -- let's pick up, because i heard you as we were both furiously scribbling notes here as we were listening to the president. the fact that he did point out management will be fired here, saying, listen, if they were at the helm when this happened, day don't deserve to be here now. >> yeah. and they made some big mistakes, it looks like, in hindsight, when they didn't manage their interest rate rate risk properly. this is a company that took in a lot of money in deposits for many, many years and put those deposits into long-dated treasuries. and as interest rates rose,

those became less valuable and at the same time, when people started taking their deposits out because the tech sector had turned, then suddenly there was this mismatch for this bank. and as they tried to raise money, they raised actually alarms that they were in trouble. and then you had a run on the bank. so that management is out. >> christine, i have to ask you, this is the first step, and i heard from a lot of folks this week saying the administration has to step in now to guarantee all uninsured deposits, because the fdic limits to $250,000 for many banks, big cv firms, but also small businesses have far more money in their accounts. biden says, we will not stop at this, we will do whatever is needed. notable, as well. what additional steps was he opening to, if necessary? >> he talked about more regulation to make sure this doesn't happen again. and i think that's really important. we have dodd/frank banking reforms after the last financial crisis and there had been lobbying, and in 2018, a

loosening of those for banks just like this one. i think there's going to be a postmortem look if these banks should have better stress tests, higher capital requirements. that's a conversation to have. but this is just such a unique moment overall. do you want the federal government guaranteeing every investment, every bank deposit? and then you're essentially nationalizing the banks here. so i think it's important to note that in normal times, $250,000 or less, your deposits are guaranteed by the federal government. in this case, they're guaranteeing all of those deposits. that's a really new moment. >> mj, to that point, the president said he's going to be asking congress to strengthen those rules. we heard from lawmakers on both sides of the aisle, weighing in over the weekend. is there a plan from the white house? is there a plan even from the president to speak to lawmakers and to get a sense of what that would look like when you're dealing, of course, with a divided congress? >> yeah, erica. i thought the president's accountability portion of the speech was really notable.

first and foremost, the president saying straight up that the managers at these banks are going to be fired and that the people who are responsible for what happened, they are going to be held accountable. now, we don't know what exactly that accountability looks like, and he made clear that there is going to be a little bit of time that is taken to figure out and get a full accounting of what led to these banks' failures. but i think just in the big picture, yes, the president is going to be speaking to members of congress, you would expect that there are going to be these kinds of conversations, looking back at the last few years, some of the relaxation of some of these regulations over the last few years to rytry to figure ou how can we actually prevent this kind of thing from happening again. but i think for this morning, this moment, it was very important for the white house, remember, these remarks were added at the very last minute, late last night, for the president to get out there in front of the cameras and

directly address the american people and say this line that was key, he said, the banking system is safe. your deposits will be there when you need them. he really wanted to sort of reassure the american people. you know, many of whom obviously have recollections going back to the 2008 financial crisis, that that is not the scenario that we're about to see. that there's not going to be some domino effect, and by the way, he took a lot of credit for what he called immediate and quick actions by his administration last night to precht that kind of scenario from happening. >> a message to the public, certainly also a mental to the markets that open in 20 minutes now, watching those comments i'm very closely at the white house. joining me now, democratic congressman john garamendi of california. he one of the first lawmakers to be briefed on this, given his district being out there on the west coast, where a lot of this is happening. congressman, thank you for taking the time this morning. >> good morning. >> has the government, has the administration taken sufficient steps now to make sure that this

failure is confined to silicon valley bank? basically, backing up uninsured deposits, as well as those that are insured up to $250,000. is that a sufficient step in your view? >> what you have just seen over the last three days is extraordinary leadership. this president didn't dither, he didn't sit there and wring his hands. he took very strong action. action that in many ways is extraordinary, but absolutely necessary. he has put in place a american banking system. and this follows on what he did immediately after becoming president two years ago. he put together with congress the american rescue plan. and that was for banks and businesses all across this nation. once again, we've seen extraordinary leadership by a very courageous president that's willing to step out front and settle down the situation and put this american economy on a solid footing. >> let me ask you this, because we've been here before. we were here in the late 1990s.

we were here in 2008, where banks and other investors go out on a limb, right? and the government steps in, certainly necessary to calm the markets, limit the losses, but in effect, give bad investments and bad investors backup. put the government behind them. you have this phrase, moral hazard that always enters in the conversation. does this solution increase that sense of moral hazard, in effect? is the u.s. again -- we're not saying out loud, bailing them out? >> well, who's getting badiled out here? certainly, the stockholders and the bank are probably going to lose everything. certainly the managers are -- they've been fired. they're losing. and so the equity in the bank itself is blown away. however, the depositors, who thought that they were dealing with a solid bank, they're going to be held harmless. and they'll be able to access

their money. so there are serious losers here. so the moral hazard doesn't disappear. the moral hazard for the equity investors in the bank and the managers, they're gone. i mean, they've lost -- and that's the way it should be. but those of us -- now, i'm not in this bank -- but those men and women and businesses that thought they were dealing with a good, solid bank, they're not -- they're going to be held harmless. and that's the way it should be. and also, do keep in mind that there was a run on the bank, a panic, a classic panic. the president and his administration stepped in and simply put a stop to it and said, no, we're not going to allow that to happen. and we're going to make sure that the banking system is solid. that is pure solid courageous leadership, because he's going to take heed. >> let me ask you about -- >> nonetheless -- >> let me ask you about the federal reserve's role here. you had sheila blair, former chair of the fdic over the weekend saying, the fed has to stop raising interest rates now. part of this, i don't want to

get into twehe weeds too much, t by raising rates, bond prices went down, that increased the assets that silicon valley bank was relying on for its balance sheet here, but bigger picture, has the fed raised rates so quickly to spark this bank panic here? >> oh, absolutely. the problem here goes right back to the fed rapidly raising interest rates. this bank did what in other times would have been a very solid investment. they invested in american bonds, the u.s. government bonds. their miscalculation was how rapidly the fed was raising the interest rates, which de-valued the bonds that they held. and then that led to the run. they had to sell those bonds at a loss. and now suddenly, we've got a bank that's upside down. yes, the fed has to be very careful here. if they do another very rapid and they're talking about it, rate increase, it's going to

have two effects. those companies' banks and others that are holding u.s. government bonds and this is also around the world, they're going to see a devaluation in the value of those bonds, if they're not held to maturity. secondly, in his recent testimony, the chairman of the federal reserve basically discounted the fact that he is in the process of throwing 2 million americans out of work. his solution is to throw americans out of work to put them on the bread lines. i'm sorry, that is not the right solution. look at the corporate earnings. take a look at the corporate earnings for the petroleum industry. never been higher. take a look at the corporate earnings for the rail industry. never been higher. therein lies a lot of the problem. the price of gasoline, for sure. >> let me just very quickly ask you this. the president raised an issue here. you had dodd/frank passed in the wake of the 2008 financial crisis. there was a rollback of some of

those regulations in 2008 under the trump administration. president biden has talked just then and prior about going back at that rollback, tightening some of these restrictions here. is there any bipartisan support for that? republicans control the house now. could you get a coalition together to re-rollback or reverse the rollback of those changes in 2018? >> we should. we should make every effort to make sure that every bank, large, small, medium, and huge, all of those should have very strict regulations. you let this thing run wild and you're going to get collapses along the system. so, yes, they should be held accountable. and we should do that. will duo that? well, let's hold ourselves to account fhere. i'm for it. let's see if republicans are. >> congressman garamendi, thanks so much for joining pups. >> thank you, jim. we, of course, will be watching the markets when they

open at the bottom of this hour. you'll see the futures down a bit. we'll see if that changes when we get closer given the president's comments just now. also ahead, former president trump making his first visit to iowa since he announced his 2024 run. cnn has new reporting about how some of he has staunchest allies, once-staumnchest are no more lukewarm this time around. plus, the brackets are live. we're going to break down the favorites and the possible cinderella stories at this i year's march madness tournament. stick around. ♪ ♪ wow, we're crunching tons of polygygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq

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the d.a. had invited trump to testify as required under new york law trump's former fixer and lawyer, michael cohen, he is expected to provide additional testimony today. as manhattan prosecutors weigh weather to charge former president trump, he is making his way back to iowa tonight, his first time in the state since launching his third bid for the white house. >> despite his legal troubles, many iowa voters tell us that they are still with trump, but the same may not be true for some of his former campaign officials and white house advisers. cnn's elana te a train joins us. elena, what are you hearing for those in trump's inner circle? we have heard some of those in the inner circle publicly break with him, though more limited in number. you're hearing more in private? >> i am, jim and erica. i reached out to nine former trump kpcampaign officials who were with him throughout 2016, and only three of them are publicly willing to say that they support donald trump's third white house bid.

another three said that they wanted to remain neutral during the primary and the other three refused to weigh in for the story or do not respond to our request for comment. i'll just add, i think one of the most interesting things i picked up through the course of my reporting is about former trump 2016 campaign manager cory l lewandowski. i'm told that he's recently been privately reaching out to republican operatives and donors telling them not to support donald trump for 2024. and also pitching himself to potentially other presidential campaigns including that of governor ron desantis and governor kristi noem. lewandowski denied that reporting to cnn, but i spoke with more than a dozen of people within trump's orbit who noted that cory has been distancing himself from donald trump, since the 2020 election. we also gave him an opportunity to reach out and endorse donald trump within the story, but he

refused to do so. >> interesting. alayna, great reporting. pr appreciate it, thank you. joining us now to discuss trump's trip to iowa tonight, ka kathy obroadovich. if we look at that reporting from alayna in terms of former trump campaign officials, the split that we're seeing, what's also interesting is when we look at what the interaction is with local officials, with elected officials in the state, the fact that the governor was with governor desantis in iowa at two different events, that he was also meeting with lawmakers in the state. we have reporting that trump is making some of those calls privately. but is there a sense this morning of where support stands among iowa lawmakers? >> yeah, i wouldn't read too much, erica, into the fact that governor reynolds, governor kim reynolds was paappearing with desantis. she's appearing with every presidential candidate that comes to town.

she had events with nikki haley last month, she's appeared with tim scott. she will -- she has appeared and i believe she is planning to appear with donald trump. so she's going to be neutral. but when we talk to republicans at these events, and it's been a busy four-day weekend for the iowa caucus campaign, people are not sold on donald trump for 2024. they are still -- he's still very popular and he is polling, you know, pretty well. but his polling is down from what it was a year ago. and ron desantis is looking like the person that iowa republicans are kind of eyeing to see if he could be a substitute or an alternative candidate. >> kathie, iowa voters, as you know better than me, they're known as being more knowledgeable. the process encourages engagement with voters as opposed to just being kind of a straight-up straw poll. and i wonder, given your experience covering so many of these, is iowa a place that has the potential to stray from trump? right, to give another candidate

an opportunity, particularly even one, not just a desantis candidacy, but someone from kind of the more mainstream or moderate republican strain of the party, like a nikki haley, or folks that are now positioning themselves in that lane. >> iowa is definitely a place, jim, you're right, that new candidates can audition. they can come -- they don't have to be the most well-known or the party establishment favor. and they can come and get bsh because it's a cheap market. you don't have to buy a lot of advertising. you can meet people one on one and get your message out. but the iowa caucuses are also not the place for moderates, necessarily. because it requires this engagement. you get the activists. and the activists tend to be in the republican party from the more conservative wing. so, you know, conservative talenters running to the right of a lot of times what we would see in past cycles, you know, the jeb bushes or, you know,

other establishment candidates. that's where those insurgencies do very well here. >> we are in the early days, obviously, as we know, but i'm just -- i'm curious, as you look at this, as iowa once again becomes the center, does anything feel different this time around? or heading into 2024? >> yeah, well, first of all, the democrats are not, you know, joining in on this cycle, because the democratic national committee kind of blacklisted iowa. so normally, you know, this would be a busier cycle with both parties in play. also, i think, you know, it's interesting to me how unified the candidates' messages are so far. a lot of candidates coming to iowa, talking about education. and especially kind of the culture wars and education, that is what ron desantis talked about. that's what nikki haley spoke about on her first trip to iowa. i believe donald trump will be

talking about education again tonight, as well. it's partly, you know, i think it's what they might think iowa republicans want to hear. that's what our legislature spent the entire year talking about so far. so we'll see what happens. >> kathie, so quickly here, can i ask you, is the discussion of a possible indictment in new york at all topic of discussion there? and does that, in your view, help or hurt a trump candidacy in iowa? >> i don't think it matters to the electorate for the caucuses. a lot of those types of things are, you know, they attribute it to the media or to partisans in the judiciary or the -- you know, those kinds of things. i don't see them as taking that terribly seriously, but, there is a feeling among republicans that trump has too much baggage. and so, you know, this could be just a little part of that they consider to be baggage for him. >> kathie obradovich, thanks so

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opening bell on wall street there, just moments ago, as financial regulators moved quickly to reassure depositors in the wake of the silicon valley bank and signature bank failures. the market down just about a half percent now. just moments ago, and you saw them live on this broadcast, the president told the american

people, the american banking system is safe. crucially, that all depositors will be able to get their money. >> also saying that those responsible will be held accountable. the federal reserve, meantime, making additional funding available to other banks. "new york times" reporter lauren hirsch joining us now. lauren, good to see you this morning. so the president really trying to allay fears, as we know, for the american public, more than anything. saying that your money is safe, those will be held accountable, we're going to talk about this going forward. there are also questions about the broader impact here. even goldman sachs telling their clients, they don't actually believe that the fed will raise rates at their next meeting because of all the stress in the banking system. how could this impact that decision? >> a lot of people think that this is going to either completely eliminate at least for now or strongly slow down the federal reserve's move to raise interest rates. a lot of people blame that in part for what happened to silicon valley bank. they had a lot of bonds held to

maturity that have lost significant value, as the fed has raised rates, now arguably, it was management's responsibility to mitigate that risk and hedge against it. so that's not necessarily fair to put the blame on the fed, but it did kind of indirectly cause this problem. so people are pretty confident that this is either going to slow or halt the fed's move to raise rates. >> then the next question is, is that enough to stop the, fall, one, in bank stocks, in the market more broadly, but also prevent a broader contagion. have the moves to date been sufficient? what are you hearing? >> listen, the market is opening down. you see shares of first republic down roughly 60%, last i checked. other regional banks are down a lot. people are really worried that any bank that shares the same kind of profile -- pardon me, shares the same kind of profile

as first republic, that means a large amount of those held to maturity bonds that i discussed and a large amount of unsecured customer deposits could be vulnerable. and i think investors are really grappling with that. one thing i heard a ton of over the weekend, and i have been making calls, you know, over the past couple of days furiously, expecting more consolidation in the banking industry, particularly among these regional banks, which i just don't think that people understood quite how vulnerable they are. and i think you're going to see a lot of banks kind of race to find a partner and bulk up and have a little bit more padding, that they hadn't really realized put them on a point of risk that they're now in. >> does some of that come with its own aches? there's also -- you look at that through a certain lens, and people understandably get concerned when things get too big. >> that's the irony of it all, right? so a number of people that i was talking to yesterday were questioning, well, how is the government going to handle this? because on the one hand, the

lesson we learned the last time around is, you don't want to have too big to fail. on the other hand, now we're realizing, can you be too small to not fail? that is the question with this. senator elizabeth warren has been really opposed -- not opposed, she has put a tough eye on bank mergers, which there have been a lot of. the question is, the biden administration, which has really taken a hard line on consolidation, are they going to shift that right now when it comes to bank mergers? because maybe the size of these banks simply aren't able to withstand this kind of pressure. and one more point on that, again, it's whose fault is what, possibly if they had had the same regulations that were applied to the big bank or to the small banks, they would be better protected, because they don't have the same liquidity requirements and i am sure in capitol hill, we're going to start seeing that. president biden alluded to that this morning in his speech. we'll see a push for that. but there is going to be a big push to kind of restructure what it means to be a regional or

smaller bank. >> yeah, we'll be watching to see how that plays out. but certainly important to raise. really important. lauren, thank you. >> thanks for having me. all right. right now, a different kind of storm. a powerful storm set to batter parts of california, threatening more dangerous flooding in areas already deluged. this includes san francisco, oakland, sacramento, and fresno. >> cnn national correspondent mike va lvalevo is in fresno, california. i see a lot of water behind you. what are you expecting? what are folks there anticipating what is to come? >> well, erica, monday evening is really the next event. this is sort of the intermission of two atmospheric rivers. but we do have good news to report, erica and jim. we've been in our waders all weekend long, walking up and down the streets of pajaro and yesterday the water was up to here, and now down to the bottom

of this bumper, so much more of this wheel to my right is visible. but there is still more rain on the way. >> warnings of intense sustained flooding in the days ahead, after california's latest atmospheric river compromised part of the critical levies, sending this rushing river into homes, farms, and trapping families in the small community of pajaro. >> we really didn't expect it to happen, but here we are now. >> they started evacuating at 12:00 in the morning or 1:00 in the morning, and they just started, the national guard, taking people out as they go. >> the 11th atmospheric river system forecast for monday could send more water rushing through the still-breached levy. >> just keep this line. >> the raging floodwaters leading to a dramatic areal rescue, captured above the salinas river.

california highway patrol saving a man stranded on an island after floodwaters swept him and his car into the river. the man brought to dry land unharmed. >> folks, we are not done yet. we are dealing with rain and wind events that i can only describe as a super soaker saturation event. >> reporter: but an undeniable sense of flood fatigue creeping in, even as communities ordered new evacuation orders. and back in hard-hit pajaro, louis alejo told us, there's a sense of vulnerability, both about the future of pajaro and its mostly migrant families. >> this community is resilient, it's strong. when these waters recede, pajaro is going to rise. this is such a hardship on this community, but we know that we will get through this. >> reporter: jim and erica, let's talk about the rest of the

neighborhood to my right. l levee crews will rye to shore that up as much as possible and wuk see what's at stake here. all of these neighborhoods and people's american dreams in these mostly migrant communities. auto body shops, small motels, bed and breakfasts. people have been working so hard to build their lives here, so much is at stake if that levee isn't fixed by tonight. >> you're right to note that in the wake of these storms, there's a lot of loss. mike valereio, thanks so much. j.d., the latest on mexican authorities on three women who disappeared after crossing the border from texas more than two weeks ago. because itit stinks. ♪ tell me why ♪ no, you tell me why i cacan't get rid of this odor? ♪ have you tried new downy rinse and refresh ♪ itit doesn't just cover up odors, itit helps remove them 3x bettr than detergent alone.. ♪ yeah ♪ guess the odor went bye bye. no, that's not us.

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authorities in mexico are now looking for three women from texas who disappeared after crossing into the country two weeks ago. their families say they were going to sell clothes at a free market in northern mexico. >> so they crossed the border near mission, texas. they were heading to monte morales mexico. it's about a three-hour drive. the women never made it. rosa flores joins us from houston. the disappearance happened a week before those three american tourists were kidnapped. what are we hearing in terms of where things stand? what are mexican officials saying? >> well, the latest is from the ag of the state of nueva leone obtain ed some photos of the search for these women. the ag says the investigation and search is ongoing. you can see, there are dozens of vehicles, personnel, and drones that are being used to search for these women.

here's the latest timeline that we have. according to the police chief. this is in the rio grande valley of south texas, these three women crossed into mexico on february 24th. according to various mexican authorities, these women were going from china, which is a state in mexico, and monte morales, to another town in the state, and that's where they disappeared. they were driving a 1996 chevrolet silverado, and that the color of that truck was green. now, according to mexican authorities, their families reported them missing on the 25th. they have been seen ever since, but that these search efforts are ongoing. now, authorities there also say that the fbi is not participating in an official capacity. they say that they believe that this is because these three women, while they are u.s. residents, they are not u.s. citizens. now, jim and erica, you mentioned the tourists that were

kidnapped in mexico and the reason why i mentioned this, too, is because these three women would have had to travel through the state where the tourists were kidnapped to get to the state of nueva leone. the state is not considered a do not travel state like the state tamaulipas is, but it's still considered extremely dangerous because of crime and kidnapping. >> good bs ness, we do hope the safe. rosa flores, thank you so much for covering. still ahead, a lighter story. this time to pick your march madness strategy. will you do it by school, rank, jersey color, dumb luck? we've got the bracketology science to help you out. by the way, it's going to be a grudge match between me and e ere erica. >> i'm counting g on that dumb luck to help me prevail. > me too. dog roger. ♪ ♪ gain scent beads

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this is going to be a super productive monday for everybody, because it is time to fill out

the bracket for march madness. alabama, houston, kansas and one that will make my mother-in-law very happy, purdue here. >> sorry, in my app to fill out the bracket. and south carolina gamecocks have claimed the top seed in their division, and we are joined by andy scholes to give us that cheat sheet, because i want to really beat erica, can you whisper the advice to me, and don't let her hear this. >> come on, i have reached out to andy before the show. >> you can go with the heart or your mind or pick your favorite mos c mascot, and so many ways to do it. it is fun to pick out the upset or pick the cinderella and brag to your friends, but the most important thing is that you have

to be concentrating on the end, and the final game right here. if you want to win and beat your friends or the co-workers, you have to pick the champion, and the person who wins the bracket pool is the one who picks the eventual champion. and now, there are some stats to help you and the most popular one is the ken palm who picks the offensive and defensive champ, and more often than not, it is the top offensive and defensive teams, and these are the top seven to win the championship in your bracket. these four could get there by the end of the tournament, and not bad picks either. others are gonzaga and arizona, because gonzaga is not in the top seven in defensive. and so every single one of these

has come east of this line, and texas is also on the wrong side of this line, but it has been a long time since a west coast team has won the ncaa tournament. so who should you pick? well, this is the highest probability. pick a one seed to be the eventual champion, because they have won 26 times since 1979. so who are the one seeds -- kansas, alabama, houston and purdue. kansas won last year, and if you are looking at 1974, only two teams have been able to repeat as champion, because it is very hard to win back-to-back as national champions, and where is the final four? it is in houston and houston is the favorite here, and you have to go back to 1988 for a team to win the final four, the national championship close to campus, and who knows what that means, and so i went to the university of houston, so i can pick with

my mind and heart. >> so you want to pick the top one, and go for a couple of others who are off of the beaten path, and everybody is going to want to pick the top ones, and so if you want to differentiate yourselves, it is hard to do. >> if you want the offset, pick the 11s over the sixes, because since 2010, the 11s have a winning record over the six seeds. >> 11 over 6, noted. >> i am coming after you, erica. >> duly noted. and now, president biden's message to the banking executives after the banking failures spark a looming crisis. all of this s next. your past expe rience can help you earn your degree faster and for less. what does it mean to be ever better? its your customers getting what they ordered

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