comfort in europe if i am not of some kind of service to ordinary russians? and he went on to add, now that i know everything about this plot to poison me with novichok, he said, quote, i would never give putin such a gift as to stay back in europe instead of returning home. and we see what that homecoming has cost alexei navalny, and he understood that risk, and he did it anyway, wolf. >> cnn's clarissa ward, thanks for all your excellent, excellent reporting. we really appreciate it. and you can watch "navalny" any time on our sister network hbo max. thanks very much for watching. "erin burnett outfront" starts right now. "outfront" next, record lows. stocks of regional banks nose-diving today even after the u.s. government goes to extraordinary lengths to stop the panic. will more banks fail, and how safe is our money?

plus, russia's military falling apart. soldiers revolting against commanders calling themselves sacrificial lambs as the battle between russia's army and the private military wagner group spills out into the open. and hundreds of migrants trying to storm the u.s. southern border. frustration with biden's policies boiling over. this is the u.s. boarder you're looking at and we'll tell you what's happening there. let's go "outfront." and good evening. i'm erin burnett. "outfront" tonight, bank crash. stocks of dozens of regional banks across the united states plunging to record lows today. the situation so volatile that trading had to be completely stopped, halted for roughly a dozen of those banks. here's just a few to show you what happened in the hours they were even opened for trading. first republic bank, 66% lower at one point. western alliance bank corp, 60% lower. pac west, 34% of its value gone. first horizon, about a quarter of its value erased. it was a head-spinning turn of events, and it's all in response

to the swift collapse of silicon valley bank on friday followed by signature bank over the weekend. stocks diving even after the biden administration and the federal government took extraordinary steps to calm americans by assuring depositors that those two banks that they would have access to all of their money. and president biden tried to ease fears trying to prevent more runs on more banks. >> americans can rest assured that our banking system is safe. your deposits are safe. >> the thing is, though, what we saw today is that panic exists. it's out there. and this is a precarious moment. wherever we go from here, it is a precarious moment. because banks are truly the arteries, the veins, the capillaries, they are it for america's capitalist economy, which is the biggest in the world. and the speed of the bank failures and the fear of more of them has totally shocked that system that, body. economic analyst and "outfront" regular jim bianco pointed out

today that the yield on two-year t bills has seen the biggest three-day drop since right before the 1987 stock crash. now, at that time the dow dropped more than 20% in a single day. it was the singlest one-day stock decline in u.s. history. the frightening reality is that the underlying fundamentals of these banks may not matter. because what does matter is human nature. still, with all this technology and all of these regulations, a bank run is ultimately driven by fear and panic. and the former congressman barney frank, a board member of signature bank, which failed over the weekend, and by the way an instrumental figure in the financial regulatory reforms that came out of the 2008 great recession and banking crash, said if the federal regulators had made assurances on deposits on friday, that bank would've survived. >> we at signature we're in good shape. in fact, given what the fed and

what the fdic announced today, if that had been announced on friday, we would have had no problem at all. and i think you see when the sale comes that it's a fundamentally sound bank. >> all right. now put aside frank's claims that signature is a fundamentally sound bank. we're not going to try to fact-check that here. but also put aside that he wanted to roll back some of the very regulations of his own famous dodd/frank bank reform when he got on the board of signature. because those things actually aren't at the heart of this. he has a point no matter what. and that is that panic can kill a bank no matter how strong it is, any bank. because banks are about trust. they take your deposits and they lend them out to other people. that's what they do. and what is scary about the past few days is that they've raised the question about how much the underlying strength of a bank even matters. in fact, social media played a huge part on silicon valley bank's natural. the second biggest bank failure

in american history may go down because of social media. and now one insider tells me he's worried that in an environment like this, the only financial institutions that can realistically survive are four, wells fargo, jp morgan, chase, citigroup. now why would you know that? well, here's the reason. because those banks are way too big to fail. case in point, ashley turner who is a customer with silicon valley bank tells us her company was banking with first republic as well. now guess where their money is? bank of america, chase, and wells fargo. she is not alone. here's an incredible fact. those four banks, those four that i mentioned, are about double the size they were in the 2008 financial crisis. 89% bigger, according to the federal reserve's latest numbers. 89% bigger. so the whole thing too big to fail too terrible so let's get

rid of it, so what we did was get bigger and bigger and way doing to fail. phil mattingly is at the white house to begin our coverage. what are you learning now? >> reporter: you talk about panic and contagion, the fears that were certainly drawn out over the course of the last several days. treasury department officials, financial regulators keenly aware of that reality. and while they have been watching bank stocks, particularly those regional bank stocks get hit throughout the course of the day, one senior treasury official i was talking to said keep an eye on what's actually happening underneath right now. on just a continuous array of phone calls with regulators inside some of these financial institutions with bank ceos as well. what they have been watching is the outflows of deposits. that's what created the biggest concern, the biggest risk in the collapse of silicon valley bank is that these regional banks, these mid-sized and smaller banks would have significant deposit outflows, and therefore would be in a very similar position. what this official says is over the course of the day they have seen those outflows or heard

anecdotally those outflows are starting to slow. they feel like that is a good sign that perhaps what they put in place is starting to work. the thing we were targeting was uninsured depositors feeling as if they weren't protected. the scale and breadth of what we did has sent that message that they are in fact protected. combine that with the federal reserve lending facility that was also set up, that's providing liquidity to these same banks. they have seen signs that that is also starting to take hold as well. so those are positive signs. they acknowledge they are not out of the woods by any means. the risk that is very real has not dissipated in a dramatic manner. but they feel like those are positive signs at the same time white house political advisers are bracing for a very real political fallout. everything you've seen from the white house and the president today is trying to get in front of that. they feel like they delivered on this message. we'll have to wait and see as the days come forward whether or

not that's actually the case. >> thank you very much phil mattingly. and of course this is all happening in a way we've never seen it happen before. that is in a way of social media where you can have these sort of herd mentality, you know, just all of a sudden trample through a bank. it's a terrifying thing, it's something nobody in the banking system or regulating the banking system has had to deal with before. and "outfront" now, the former fdic chair sheila bair. she led the fdic during the 2008 financial crisis. i remember talking to you so many times during those volatile and frankly often very terrifying days for all of us. how concerned are you right now about further spread? >> well, i think the system is basically sound, and that's not -- you know, there are bank failures. we've always had bank failures. >> yes. >> and so that shouldn't scare people. we have insurance deposit allowances of $250,000. so this is not anything that should be alarming. i think the government needs to

be very careful in how they communicate this because, in a way, i think by making highly unusual systemic risk designations for two mid-sized banks. we've got a $23 trillion banking industry. one had 200 billion. another had $100 billion in assets. this is keeping to the deposit limits, which are there in law and clearly disclosed would somehow create systemic risk, that, i think, people found a little dissettling. so i do think, you know, you can end up creating problems that you're trying to avoid by not being very careful in communication. so i think it's right, we need to worry about uninsured deposit runs. and the question is what kind of messaging, communications, and initiatives -- >> and i understand what you're saying. of course you can look at it as 20 billion versus the size of the banking system or you can say it's the second biggest bank failure in american history. both are fair.

>> i will just say that we've had a couple of multitrillion dollar banks fail during the great financial crisis, just that they were bailed out so they didn't actually go into receivership. >> i guess the point i'm raising is that confidence in these banks, you've got these four big banks that have basically doubled their assets since 2008. but that is exactly what happened. so you end up in this world where if you're one of those four, you're untouchable because you are simply too big to fail. and if you're everybody else, you go to go off for a higher rate or a cd just to try to get those deposits. it feels like two different sets of rules to many people. how did we end up here where it's the up touchables and everybody else at your own risk? >> well, i think we had an opportunity in the great financial crisis to, instead of bailing out and supporting these large institutions, letting them grow even more, we could have

broken some of them up, we could have downsized them. we decided not to do that. we basically kept the system we had, got a little more capital in the system, a little more liquidity so the rules improved a bit. but it was basically the same system that has continued to grow and morph. a lot of that's been fostered by accommodative monetary policy keeping interest rates so low for so long, encouraged borrowing, encouraged corporate debt issuance. these are all things that these big banks do to make money. monetary policy also had a role in increasing the size in these institutions. so it is what it is. i do worry now though that if the regulators start saying, so everybody say over 100 billion now we're going to protect their uninsured deposits. where does this end? okay, we've got two banks you're going to say you're going to protect their uninsured deposits. what if there are future failures? if that's probably going to be the larger ones, what is that going to do to community banks?

they're going to start losing to the regionals who are now perceived to be protected. that's what happens when you start down this bailout road. i do think that bailouts reinforce bank consolidation and inevitably hurt the smaller institutions. and i really hope the regulators don't let that happen again. >> sheila bair, thank you very much. i appreciate your time with your unique perspective. i want to go now to an entrepreneur and the founder of patron spirits as well as co-founder of john paul mitchell systems pair products. you know, started small and whatever banking you were doing, and obviously built -- you would be dealing with banks on very, very large transactions. so, in your capacity, business owner and founder, if you were a small business right now with all your money in a regional bank, what would you do right now? >> first of all, i love you out there, and you got me on at the right time. i love a journalist like you that goes after the truth period. so i'm going to tell you. and i found this out this morning. if everybody knows about it out

there, they wouldn't be panicked at all. we thought this morning when the president got on that 10% of the money invested was covered by the insurance policy of 250,000 each. then i learned after that that, no, we the people, the government is paying for everything other than the people that own stock. which when the president came on this morning and said 10% will be affected, the other 90%, well, that's capitalism. but then i find out that's not true. i called the largest financial institution maybe in the world. i said what's really going on, and they told me. there will be several more banks that will fail, but the government is paying for everything. it's not 250,000. they're going to cover all the rest. and if the government is doing it for this one big group there in silicon valley, which has a lot of supporters for the existing government, by the way, there is no way they can get away from not doing it for everybody else. >> so, j.p. -- bill ackman, billionaire investor and hedge

fund manager, he says the fdic needs to ensure explicitly all deposits now, hours matter. you can't have this 250,000 out there knowing that for the big banks that's not true, you'll insure it no matter what. and now for silicon valley and signature, it's everybody. you're saying you got to extend it to everybody, forever? >> with all due respect, okay, to that, i was told that it's already in force right now. they're going to bail out this bank with taxpayer money. we the people are going to bail these banks out, which i don't think is very fair. i've already checked my local banks that i deal with regionally in texas are all very secure. i checked it out to make sure. but what'll happen is if you do to these people and a lot of them support depositors with financial contributions to the party. if they did it for this, there is no way unless it's political unbelievable explosion they're not going to do it for everybody. because they'll say, well, why

did you do it for these people when a lot of the big people there supported the democratic party, you got to do it for everybody. so i think if people all knew that, and i don't think it's right, by the way, that we the people bail out banks that don't do what they're supposed to do, i don't think that's right at all. i think everyone should be treated equal. we are the people of america. but once they made that commitment to doing that, there's no way they're going to get out of it. because how can they say these are great supporters but we're not going to do anybody else. well, that is stupid. that is a political disaster for them. right now, look at our nation right now. we're in some troubled times. but we're still a strong nation. we got good people out there. we just need people to tell us the truth. if they would have told the truth this morning to everybody when the president talked, people wouldn't be panicking, they wouldn't have run on their monies or anything else. i think we're going to get out of this okay. the only bummer is we the people are going to have to pay for, which is not right. >> j.p., thank you very much. >> my pleasure, always. peace, love, and happiness. thank you, dear.

and next, an all-out war inside russia over putin's deadly invasion. one prominent military voice now suggesting the head of russia's private army be jailed. we'll go live to ukraine. plus, former president trump making it clear he will not, he does not plan to testify in the new york investigation into hush money payments to stormy daniels. it is a case that appears headed towards indictment for the former president. so how solid is the manhattan district attorney's case against trump? and then this. >> and the oscar goes to -- "navalny." [ cheers and applause ] >> navalny, you see his family there, and the producers and director of the film. best documentary feature. i'll be speaking to the film's director and alexei navalny's daughter. do they think the win will force putin's hand?

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♪ ♪ ♪ get directv with a two year price guarantee. tonight, a rebellion, a russian rebellion. new video into "outfront." this is a russian battalion openly criticizing putin's generals for breaking up their unit. watch for yourself. >> translator: we arrived recently to the zone of the special operation where an order was put in place to disband our battalion and send us all off to different units. we are addressing you now so you can understand our situation. we asked that you let us remain

in our battalion to fight and defend our motherland. >> the anger echoed in this open letter from a russian soldier that was first obtained by an independent russian investigative journalist. it reads, in part, quote the enemy is spitting us out like sunflower seeds. everywhere around us, they deceive us. there is no truth anywhere, we've been sent like lambs to the slaughter to our imminent death. we saw corpses and mutilated people without arms and legs, with their guts hanging out. we were promised that we would be mortar men, but we were given no mortars. here's the letter. that's what he's talking about. and this right now encapsulates part of the state of putin's army. and the other russian army fighting on the battlefield, is of course the private wagner group and is not faring much better. constant complaints of no ammunition. and wagner, which had 50,000 fighters in ukraine three months ago, now running out of people. about half of them are now dead

or injured. and the struggle between russia's ministry of defense and yevgeny prigozhin. and the war between russian factions is now spilling out into the public. former russian military officer writing, so, in fairness, prigozhin should be at least in jail. adding, and, actually, he should be court marshaled. this comes as we have new video for the fight that bakhmut that wagner has been dragging on for seven months. russia has once bragged this would be over in two weeks. >> reporter: this is what the war has left of kupiansk, a city in eastern ukraine that the front line has never strayed far from. the police called by a civilian who found this. a cache of russian ammunition. six months after they were

driven out, russian forces now less than five mile as way. you hear those explosions, says the police chief. those are rockets flying towards the civilian population. people here are suffering. yet, overcoming the human instinct to run, this woman and her husband refuse to leave. artillery destroyed their neighbor's house a month ago, narrowly missing them. the worst, she explains, is at night. so she and her husband hold hands. it keeps them safe. this is their home, she says, not the russians'. besides, she says, it's getting warmer now. with the rainwater they collect in buckets, they will survive. kupiansk was one of the most strategic wins of ukraine's four counteroffensives. but at huge cost. now with russian forces closing

in again, civilians are being evacuated to safer parts. residents leaving kupiansk and its neighboring villages with not much more than their keys, a heavy heart, and the hope they will return. those left surviving as best they can. a city of around 27,000 now reduced to 2,500, according to police. it's because the main market has been entirely destroyed that this makeshift one has been created. the last couple of days have been a little bit quieter, we're hearing. and that's why people here are selling what they can while they can. >> translator: of course we're afraid. >> reporter: she now knows the sound of artillery, both outgoing and incoming. we won't go anywhere, she explains. we're not rats, we won't abandon our city. if we do, who will take over?

the last civilians of kupiansk determined, like some of its buildings, not to be blown away by the shifting winds of this brutal war. what we've been seeing since about mid-february is all along that eastern front line renewed pressure on the part of russian troops. at bakhmut, of course, but further from the south in donetsk province all the way to that northernmost point on the front line kupiansk. they are trying to prevent regrouping of that counteroffensive. and it is of course the civilians caught in the crosshairs. in that town of kupiansk, not for the first, not for the second, but for the third time. >> all right, melissa, thank you very much, live from kharkiv tonight. i want to go to ian bremmer, president and founder of the eurasia group. obviously so much to talk about here, but obviously this fight between the ministry of defense

and yevgeny prigozhin sis incredibly open. they are now recruiting in gyms. i'm surprised that is even left as a place to recruit. is this really going to be the beginning of the end for that fighting unit? >> well, i think that prigozhin, i'd be surprised if he's still alive in a year, if i'm completely honest with you. >> really? >> the fact that he is publicly going, creating videos and putting them out and saying i don't have enough ammunition. ultimately that goes to a criticism of the person who's in charge, which is president vladimir putin. it certainly shows he doesn't have a good relationship with the president. if he did, he'd be talking to russian leadership. so i think he's got significant problems. and of course on the ground in bakhmut, i mean, this is a killing field. and what we're talking about is literally dozens of meters of

land being taken every day. i mean, they're just throwing tens of thousands of young men at these ukrainians, a town of 75,000. i mean, this has been going on for months now. it's appalling to imagine that we're fighting a war this way, the way that, frankly, you were fighting world war i. >> it is appalling. it could seen the end for prigozhin. the invasion has been taking a toll on russia's economy. there's an article in the "financial times," and he was saying putin is running out of money, pointing out that more than half of the budget comes from fossil fuel. he says they are having to pillage their rainy day funds so that while putin, his own standard of living may not have taken a hit per se, it's because they're digging in deep into the funds. now, do you think that there is anything to that? >> what we saw basically 2.5% contraction of the russian economy last year. the imf is expecting that this year they will actually have a

small amount of growth. >> do you think those are real numbers? >> these are imf numbers, these are not russian numbers, these are the best estimates from international economists. and the things that the russians produce, the world actually wants. they absolutely matter. the fact is that the russians are not going to be able to sell a lot of gas on the international market because if the europeans don't buy it, there's no infrastructure to put anywhere else. so there is stranded gas, and that's an important natural resource for the russians. but the idea that the united states and the europeans are crippling the russian economy in the near term, that's not credible. >> and is there any way that they can do that more quickly? >> the only way you could do that more quickly would be if you had willingness to put sanctions on, you know, countries that matter to the u.s. economy, to the global economy. put sanctions on the chinese for

buying russian energy. put sanctions on the indians for doing that. no one's going to do that. so, the u.s. -- we don't have a global order, we have a fragmented order. the united states may be the leader on security, it's not the leader on all things economic. and you're seeing that play out with russia. >> ian, thank you very much. sobering. and, next, live pictures of trump in iowa, his former fixer michael cohen today went in front of that new york grand jury. is an indictment for trump imminent? plus, former first lady michelle obama opening up by why she was often surrounded by kids during her time in the white house. >> they lifted me up. puffs ha. ...and brings soothing relief. don't let yourur nose get burned. a nose in need deserves puffs indeed. america's #1 lotion tissue. how many rooms are in there? should we go check it out? yeah. we get to stay here all weekend! when you stay at a vrbo... i call doing the door code!

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you're looking at live pictures out of iowa. former president trump is holding a campaign rally there tonight. yes, indeed, it is the time for that. he could be days away from becoming the first former president to be indicted. and he would continue, he says, with his campaign. his lawyer saying today that trump will not testify by a new york grand jury. that jury is investigating trump's alleged role in a hush money payment to stormy daniels to cover up that alleged affair. trump's former lawyer michael cohen who says he made the payoff at trump's direction, did testify today before that grand jury and said trump should be held accountable. "outfront" now, longtime conservative lawyer george conway. i do note cnn has previously reported that his wife kellyanne conway also appeared before that grand jury. that's just for disclosure, george, i know you can't talk about that. but when it comes to this particular case, i know you believe it is not a matter of if, it is a matter of when trump is indicted.

but this case has been out there for years. >> absolutely. >> so how solid is it, where are we? >> i think it's a solid case legally and technically. it's just sort of an odd case to bring now after all these years. i think the case should've been immediately after when his immunity as president expired. it should've been brought as a federal campaign finance law case. but it was essentially, it was -- he made a contribution to his own campaign through a strawman michael cohen, and didn't disclose it. and that's a violation of federal law. >> so, to talk about the timing, though, trump's lawyer joe tacopina talked about the case earlier. and he's obviously trying to make the point that he believes this timing is all political. >> we have laws to try and beg president trump. i don't know if it's because he's leading all the polls. but clearly this prosecutor and this prosecutor's office has

made an agenda of trying to get him. they've scoured his personal life and business life for seven years to try to find something. >> to your point, have they done it the day after, maybe. does trump have a leg to stand on here? >> i don't think it's a legal leg. he's got to defend the case on the merits on the facts and on the law in court. and if they're really out to get him, they would have tried to get him on other stuff because they had prosecutors who are extremely competent who were willing to bring the case. and for some reason maybe they didn't want to go first. maybe it was the pomerantz book that caused this. maybe there is something that we don't know that changed the equation for them. we didn't know for months, for example, that donald trump was stonewalling the government and hiding documents at mar-a-lago until the search warrant. >> right. >> so we don't know. >> so when you heard that trump doesn't plan to testify before the grand jury, he's been given the chance, i don't think it's a surprise to anybody that he

didn't. but he was given the chance. if you were his lawyer, would you have advised him to testify? or did he do the right thing? >> i would advise him under no circumstances testify in any proceedings civil or criminal because he would get destroyed on cross-examination. if you remember the first book that bob woodward wrote about trump. i think it was called "fear." there's a whole discussion about how his lawyers tried to prep him for possible appearance before bob mueller. and it was impossible. he would lose his mind and start saying whoppers left and right. and the closing line in the book was trump's own lawyer saying you're an effing liar. >> in that case you're saying they did the right thing there. but obviously you've got fulton county, you've got e. jean carroll. you've got stormy daniels, you've got the special counsel. there's also some other civil

things going on in new york. a former president has never been indicted on criminal charges until possibly now. and it may just not be a one thing. it may be a whole bunch of things. >> i put the over/under on three. >> okay. so, before i ask you which three, do you think that it will stop him or deter him? is there any reason why this would impact him actually running? >> no. >> so legally no? >> legally no. he could be incarcerated and he could still run for president. if he were elected i think the better legal argument would be that they'd have to spring him. i do think he is going to run and make a big issue out of his legal troubles to say that he is persecuted. they are going to say they are persecuting me, because they want to persecute you. and if violence erupts, he is going to say it was your fault, prosecutors. >> so now the three, stormy

daniels. fulton county, georgia. and possibly january 6th. >> so not e. jean carroll? >> that's not a criminal case. but he's got a big problem there, too. >> okay. all right. well, thank you very much, george, as always. all right. and, next, chaos on america's southern border. the images coming in are really incredible. this is the american border. u.s. guards in riot gear pushing back hundreds of migrants who are trying to force themselves into the united states. and tonight those migrants are angry, frustrated with the biden administration. and "navalny," the documentary about putin's nemesis opposition leader wins an oscar. >> alexei, the world has not forgotten your vital message to us all. the film's director and alexei navalny's daughter dasha will be "outfront." ♪ customize a and save. ♪ only pay for what t you need. ♪ liberty. liberty. liberty. liberty. ♪

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tonight, chaos on the border. hundreds of migrants in mexico rushing to the u.s. border in el paso, attempting to get into the united states. they were pushed back by border agents in riot gear who also put up barbed wire to keep the crowd from storming into the united states. incredible images here from the american border. and it comes as frustration over president biden's migrant policies is boiling over. rosa flores is "outfront." >> reporter: a large group of

migrants rushing the international bridge towards el paso, texas, sunday. and in a standoff with u.s. authorities for hours. this woman begging officials. [ speaking non-english ] saying she is being robbed and extorted in mexico while trying to navigate a frustrating and cumbersome u.s. asylum process. migrants pointing their anger at a new app launched by the biden administration. asylum-seekers use it to try to set up appointments to enter the u.s. legally under exception of title 42, the rule invoked at the start of the pandemic to expel migrants. but getting an appointment is a big challenge. that comes into focus in this deep canyon at tijuana, mexico, where the dreams of children like this 9-year-old from

guatemala. what's your biggest dream? to arrive to the u.s.? and the flaws of the broken u.s. immigration system co-exist. do you like science? >> yes. >> arthur arrived in december and says the wait is depressing and sad. why is it sad? [ speaking non-english ] he says it's sad because sometimes they don't have food to eat. his mom jennifer opened this food stand in front of the school. what are you waiting for? she says that the migrants here are stuck because of the cbp 1 app. the head of tijuana's migrant services says about 5,600 migrants live in shelters and the one port of entry nearby only takes 200 appointments a day. she took screen grabs. this is another one. it says that she must be close

to the border. you're in tijuana. this is a border town. then candidate joe biden said this during the final presidential debate in 2020. >> this is the first president in the history of the united states of america that's anybody seeking asylum has to do it in another country. that's never happened before in america. they're sitting in squaller on the other side of the river. >> reporter: the scene president biden described then appears to be happening under his administration, too. but tension as peer to be escalating. migrants rushing a border crossing. and some pleading with authorities, saying they just want a better life. according to an administration official, smuggler misinformation is to blame for the incident on the bridge leading to el paso. now the white house has pushed back on comparisons of current border policies to those of the trump administration, saying that the biden administration

has actually expanded legal pathways to come into the country. about the app cbp says that it's working as intended that they have processed more than 40,000 applications since january. but, erin, it's that huge demand that has those appointments filling in moments. >> thank you very much, rosa. those images on the u.s. border are certainly sobering. well, next, the cnn film "navalny" wins an oscar for best documentary. the director and alexei navalny's daughter are next. could all of the attention on this film help navalny for his release? plus, the important message former first lady michelle obama was sharing with children during her time at the whwhite house. ♪ oh! it's daylight saving time. what's the big deal? gasp! what's the big deal? what's the big deal?

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and the oscar goes to -- navalny. >> and there they are. the team behind the cnn film "navalny" celebrating in the powerful documentary. it is about the plot to poison the russian opposition leader alexei navalny. you know we've covered that story extensively and a pentagon spokesman reacted to the oscar win today in the monday press briefing saying i cannot judge the qualities of this documentary since i haven't seen it. obviously highly questionable. but did accuse it of politicization that hollywood is playing politics. it is clear the film is keeping navalny's message alive. obviously the top spokesperson having to comment on it is significant and the film director said this as he accepted the award. >> alexei navalny the leader of the russian opposition. remains in solitary confinement

for what he calls i want to make sure we get his words exactly right vladimir putin's unjust war of aggression in ukraine. i would like to dedicate this award to navalny, to all political prisoners around the world. alexei the world has not forgotten your vital message to us all. we cannot, we must not be afraid to oppose dictators and authoritarianism wherever it rears its head. >> joining me now along with dasha, alexei navalny's daughter. congratulations to both of you. this is an incredible moment. i know it takes time to sink in. dasha, let me start with you. i understand that you believe your dad has learned about this oscar win today. obviously where he is in a peenal colony. do you have any sense how you think he may have responded? i know you don't know for sure but what you think his reaction may have been? >> yes. i can confirm that he knows we won an oscar.

it is still crazy to say out loud. but i'm sure that he is incredibly happy. as you know from watching the documentary he wanted this movie to be a thriller like documentary and it -- us getting the oscar and our incredible film team receiving this amazing award just shows this is an incredible documentary that anyone should be proud of. >> for sure. it is as i've said like watching a thriller action. of course it is real life. daniel, the top spokesperson for putin, the full quote of what he said today at the monday press briefing, he was asked about the oscar for "navalny." he said i haven't seen it. i dare suppose it contains a certain element of politicization. hollywood is not averse to it and this kind of thing happens. as for the cinematic qualities of the film i cannot speak of them for i haven't seen it. what is your response to that? >> oh, i think he is lying for sure. i think he has for sure seen it

and i think he probably really liked it but isn't allowed to really like it so he has to say he hasn't seen it. but look. these guys are liars. that is what they do for a living. they lie and they lie and they lie. they are in the disinformation game and that is their industry and their economy is lying. and so i'm not surprised that he would come out and say something like that and try and chalk it up to hollywood and minimize it and try and make this accomplishment seem smaller than it is but at the end of the day there is no minimizing this. this is an extraordinary accomplishment and it is the name "navalny" the name of our film and the name reverberating around the world today. so peskov can say whatever he wants but the film is called "navalny" and a lot of people are going to watch it including probably him and his entire family. >> for sure and as you point out given that some of those who were involved in the attempted poisoning of your father, dasha, are now missing, i mean it is

very clear many in the top circles of putin saw this. you and your brother were at the oscars last night. your mother was there. you were all together. i want to play some of what your mom said on the stage. >> my husband is in prison just for telling the truth. my husband is in prison just for defending democracy. alexei. i am dreaming of the day when you will be free. and our country will be free. stay strong, my love. thank you. [ applause ] >> i know, dasha, it is beautiful to see your mom's love but hard of course. i know you tweeted last night, brought tears to my eyes, dad, this is for you. that photo of you and your mom and your brother. way did this moment feel like and mean for you and your

family? >> it felt amazing. you know, the moment where you realize that all of the hard work that your father has been putting all of his heart and soul into and everyone who works for the foundation and everyone who has been fighting against the putin regime, this work is not going unseen and it is actually working and we're getting the recognition that we deserve. and we're fighting the fight. it seems like we're winning. >> daniel, the final word, i know you want to make a sequel. >> you know i want to make a sequel, erin. the sequel i dream of making is the story of the first democratic election in the history of the russian federation. it is the story of candidate navalny. i want to follow alexei after he is freed from prison when he is able to run for the presidency of russia as he takes his message to the russian people. it's an aspirational film and one that is predicated on hope

and navalny asks his supporters to have hope. and that is something that i am very much leaning into today. this is for alexei navalny, all political prisoners around the world, and, specifically, his supporters in russia. >> thank you both so very much. congratulations. >> thank you. >> thank you. >> and please. stream the academy award winning cnn film "navalny" it is on hbo max. if you haven't seen it you'll watch it more than once. outfront next, michelle obama opening up about why she spent so much time with children as first lady.

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and finally tonight the former first lady michelle obama opening up about why she was often surrounded by children during her time in the white house. >>way i tried to do as first lady is to see every child i interacted with because i'm thinking if the first lady of the united states sees you, if i'm looking you in the eye getting down, i would get down on the level with kids any time i would just want to tell them, i see you. you are beautiful. i am glad for you. i am glad you are here. we have to do that. >> the former first lady saying the first time she felt seen by her own parents was when they would sit down at the kitchen table and just talk. thanks for joining us. "ac 360" starts now. good evening. tonight what happens next after a weekend that saw the biden administration and the federal reserve scramble to intervene in the failure of two banks, both with deep ties to the tech industry. the collapse of silicon valley bank in the bay area and signature bank her