need help she will be in a better position to help us, right? >> if you go on social media on tiktok you will find plenty of young people posting about how they can't or they won't live with their parents for any number of reasons. there is a new study that was published in england that found mental health actually improved for young adults when they moved home as they were escaping a poor living condition, which as we are seeing in many cases caused by inflation, housing costs, all of these really, really big costs right now. >> isolation, loneliness. what do you do when you are feeling down? you call mom or dad. >> yeah. >> that was great. thank you. "cnn this morning" continues right now. ♪ ♪ all customers who had to deposits in these banks can rest

assured they will be protectednd have access to their money -- >> we have an obligation with payroll. we have an electrical business and we have to meet payroll this afternoon. that's why i am here. >> everything is insured. we are not worried. >> going to collect my share and go home. >> wow. >> yeah, wow, right? >> it's a full-on bank run. these are old-school bank runs. >> let's not scare people. >> no, i'm saying what we're seeing. >> a few banks. >> yes. >> let's hope it's not more. good morning. it is the top of the hour. glad you are with us. customers getting their money back after the stunning collapse of silicon valley bank. concern is growing as don was indicating for other regional smaller banks across the nation. their stocks are tanking. how much danger are they really in? former treasury official roger altmann is here to weigh in. a massive winter storm slamming the northeast. right now with powerful winds and up to two feet of snow. we will take you live inside the

storm. plus, a texas judge under the microscope for not wanting to tell the public about an abortion rights hearing. we begin with the growing concern for america's banks. we are watching the fallout from the biggest bank failure since the 2008 financial crisis. stocks of two dozen regional baijs plummeted yesterday even after president biden took emergency action to ease the panic. we are watching wall street this morning. t moody's said these six banks on the screen are on watch for potential downgrades citing, quote, extremely volatile funding conditions. meanwhile, the biden administration has been scrambling to contain the situation and prevent other banks from collapsing. yesterday silicon valley bank customers lined up to get their money back after president biden guaranteed their deposits following that bank's failure. joining us for perspective is roger altmann, the deputy

treasury secretary in the clinton add maministration and founder of ever core. good morning. i want to get your reaction first to some breaking news that we are getting. senator elizabeth warren says she believes the fed chair should recuse himself. she argues that for it to have any credibility he must recuse himself because he played a role this this she says by boosting their profits by loading up on risk directly contributing to the banks' failures t do you agree with that? >> senator warren has made some good points over the past 24 hours, including her main one with which i agree, which is that the rollback of dodd-frank regulations, which president trump and the congress did four years ago, was a mistake and contributed to this period of

very serious instability. i don't think chairman powell is personally responsible for any of this, though i don't think he should be forced to recuse himself. but the main point she has been maki making is a different one, i agree with her on. we need tighter regulation and the decision by the president four years apg and the congress to lighten up and roll back dodd-frank was a big mistake and had a lot to do with that. >> that was in 2018. i spoke with gary cohen. he don't believe that was part of this. do you think there will be more regulation going forward? what should that week like. >> there is a specific reason why it was part of this and that's the following. dodd-frank, which was ksigned, believe, in 2011, stipulated that banks with $50 billion in

assets or more would be deemed to be systemically important, unquote, and, therefore, would be subject to the tightest capital ratios, liquidity ratios, leverage ratios and to the regular stress test which the largest banks would be subject to. the bill which was passed in 2018, which rolled this back, raised that threshold to 250 billion. only banks with 250 billion or more in assets, and just a handful in the country, would be subject to the tightest controls. silicon valley bank, therefore, was not seen by the regulators as, quote, system incrically important and was not subject to that regulation. in retrospect, it was systemly important. they spent four or five frantic

days trying to rescue it. it was threatening the entire system. obviously, stfs systemically important. a huge mistake and contributed directly to this. >> we know barney frank was one of those pushing see ease the regulations chls he joint signature bank, which is a part of this. i want your perspective though because one thing i'm here from the treasury department is this is not bailout in their view. but for regular people it kinda looks like one. what do you think? >> well, the term bailout is, obviously, a loaded one. it's in the eye of the beholder. you know, it's like one person's who sees something and thinks it is a catastrophe, another thinks it's a small accident. the main point here is that the rescues of 2008 and 2009 which

we all remember so vividly became ferociously unpop lore. one of the most unpopular things that the federal government has been in 50 or 100 years. many people think it led to the growth of the tea party and the growth of the maga movement, so forth. and, therefore, the administration today doesn't want to get 1-1 hundred miles of that term bailout. now, what the authorities did over the weekend was absolutely profound. they guaranteed the deposits, of them, at silicon valley bank. what that really means and they won't say it, and i'll come back to that, what that really means is that they have guaranteed the entire deposit base of the u.s. financial system. the entire deposit base. why? because you can't guarantee all the deposits in silicon valley

bank and then the next day say to the depositors say at first republic, sorry, yours aren't guaranteed. of course they are. so this is a breathtaking step which effectively nationalizes or federalizes the deposit base of the u.s. financial number. you can call it a bailout, you can call it something else, but it's really absolutely profound. now, the authorities, including the white house, are not going to say that because what i just said of course implies that they have nationalized the banking system. technically speaking, they haven't. but in a broad sense, they are verging on that. by the way, the shareholders in silicon valley bank, obviously, lost all their money. therefore, if you are a shareholder at first republic or the other banks you showed on the screen a few minutes ago, you are concerned because you saw that silicon valley bank the

shareholders were wiped out. but the depositors at those institutions have nothing to worry about because they have just been guaranteed. >> it is a remarkable statement to hear you say you believe the u.s. banking system has been nationalized because of this. >> well, no. i didn't say it has been nationalized. i said they are verging on that because they have guaranteed the entire deposit base. usually the terminationization means that the takes over the institution and runs it and the government owns it. that would be the type of nationalization we have seen in many other countries throughout the world. obviously, that did not happen here. when you guarantee the entire deposit base, you have put the federal government and the taxpayer in a much different place in terms of protection than we were in a week ago. >> yeah. it does fundamentally change those aspects of it.

roger altmann, great perspective. thank you for joining us this morning. >> my pleasure. thanks for having me. >> that is really fascinating. he is right. it was breathtaking what authorities did. to the wicked weather out east. more than 20 million americans are under winter weather alerts in new england and new york. they are bracing for the first nor'easter of the season. a ground stop at laguardia. heavy rain, snow, up to 45 mile an hour winds, 147,000 people are without power in the northeast. eric vandam? worst,er mass. it looks bad. they are expecting a lot more. >> reporter: poppy, it was a cold, miserable rain an hour ago. what a difference an hour makes. what you are seeing behind me is actually is a salt barn in worcester, massachusetts, and this is where they house the salt and brine that treats the

roa roadways in this area and literally within the past hour we have gone from a very cold rain to very heavy wet snowfall. you can see, i could squeeze out droplets of water from this as these dump trucks continue to line the plows with the available salt. now, the concern going forward for this area is that this -- i am going to step down quickly. this is accumulating so quickly. the national weather service saying two to three inches per hour. we are definitely realizing that here. and when you start to combine that with the 50 to 60-mile-per-hour winds we are expecting, that is when we anticipate power outages. here are the salt trucks passing through. again starting to treat the roadways here. and power outages already topping 100,000 for many customers across new england. we have a ground stop. let's take you to laguardia so you can see what it looks like there. this is because they are busy

de-icing the runways and the planes there as the cold air wraps in behind the system and we start to see this transition from what was lrain to massive snowflakes piling up very fast and very furious. just talking to the local meteorologists here on the ground and they are concerned about that sharp gradient about who gets the impacts and who doesn't. boston, your rain likely to stay rain the majority of it event. inland the snow piles up, up two feet north and west where i am located. >> thank you, derek. please move to the sidewalk. okay? you are getting -- we are getting nervous with all the cars coming behind you. great reporting. thank you to you and your team. >> thank you. >> we were a little bit nervous. maybe the angle it looks like he is closer. but, i mean, derek, we want you to be safe. >> reporter: i am safe. i got a team looking after me. >> we are concerned. mom and dad here. meantime, joining us now,

worcester city manager eric batista. whether manager, good morning to you. thank you for joining us. >> good morning. thank you for having me. >> you heard the reports. you heard our meteorologist out there. what are your biggest concerns right now for your residents? >> i think right now the biggest concern for the residents is to make sure they stay home and stay safe. as derek mentioned, we have about two to three inches falling every hour. that's what is expected right now. higher elevations of the citi are three to four inches already. we have 350 units out making sure we are plowing the streets and treating the roads as best as possible. >> what are you doing sure to make sure the residents are safe? >> we are communicating as much as possible through social media, social platforms, sending out any information to them. we have the fire department available if any people need assistance. police officers are available as

well. our inspectional services department for any pipes that might be burst, any of those situations. and then we've already -- one of the things we do, open up our municipal garages allowing people to park for free in those spaces so they don't have to clear out their vehicles out in the -- >> listen, i think that you believe that your well positioned and well prepared for this. how long do you expect this to impact worcester? >> all the way to the night. if not 9 or 10:00 p.m. tonight, perhaps into the later/early morning, wednesday morning. our hope is to make sure that the storm doesn't carry us out that far. right now we are expecting around n9 to 10:00 a.m. >> thank you. be safe. >> thank you. you, as well. also this morning, we are keeping an eye on the weather. ravaged california is facing the 11th atmospheric river of the season. once the term that many of us weren't familiar with.

now you hear it feels like almost every day. evacuation warnings across parts of los angeles amid concerns of flash flooding and mudslides. also a levee burst in pajaro river that prompted dozens of water rescues. cars submerged up to their rooftops. houses sitting in newly formed lakes. it may be months before some of these homes can be lived in again though. >> i want to cry, but what's crying going to do, you know? so sad. >> we have to find somewhere else to stay at. we are not going to be able to come home anytime soon. >> cnn's veronica miracle is live in northern california. it was pounded with heavy rain overnight. literally standing in it. looks like it's above your ankles. how are people dealing with this? >> reporter: well, it's incredibly difficult because about eight more inches are expected across northern and

central california with the storm coming in. in pajaro, in monterey county, the water level receded about a foot since yesterday because there was a second will levee breach. . so water went into the ocean taking a little bit of pressure o yo off the community. this new storm coming in is going to bring the water levels right back up. 1,700 people have been displaced here in just this community alone. over the last few days they have had to conduct about 200 rescues, some of those because people refused to leave their homes, others because the water leflz rose too quickly. here's what the sheriff had to say. >> the evacuation warning, please prepare to leave your pets, medication, valuables. when we give you an order to get out, please get out. i get people have storm warning fatigue and people think, well, this didn't happen in january,

so it's not going to happen this time. look, we can only give orders and warnings based on the best data we can. >> reporter: the sheriff was dwrashs enough to take us out and show us how the community has been impacted. they have had to, obviously, get families out of their homes. they have not been able to go back for the most part to get animals left behind. so really difficult situation here. obviously, it's raining but the worst of the storm is expected the next couple of hours and in terms of the floodwaters this is not expected to recede for a couple of weeks. kaitlin. >> yeah. storm warning fatigue. it's certainly a real thing. thank you. also this morning, we are going to talk about the medication abortion fight. it is now headed to a hearing. we may soon have an outcome but the announcement was kept under wrans. we will tell you why next. someone who thinks with their hands. who can shape raw materialss into something meaningful. and who wants to serve in their own way.

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. a public hearing in one of the most significant national abortion cases since roe v. wade was overturn bid the supreme court. a federal judge in texas overseeing a lawsuit that could restrict access to the abortion pill across the country. he announced the hearing after reports that he privately tried to keep it under wraps. paula reid has been following this very closely. this is one judge in amarillo, texas, who is going to make a decision for the whole country on the abortion pill. explain the significance and also why he would try to keep it under wraps. >> reporter: as you know, federal courts aren't exactly famous for transparency. here the judge wanted to wit to the last minute to announce this hearing reportedly to avoid disruptions. his division is a tiny federal

division in amarillo, texas, hours from any other cities, there is only a few direct flights. if he waited to the last minute to announce this hearing it would limit the ability of anyone who want to attend to be there in person. several media organizations push today make this announcement public given the enormous public interest in this case and considering what is at stake. medication abortion is the most common form of abortion in the united states and here this case anti-abortion doctors and medical associations are challenging the government's approval of the drug used to terminate pregnancies. this could potentially block access to that medication even in states where it's legal. the first part of the case involves a potential preliminary injunction. the judge needs to did whether or not to suspend the approval of this drug while the case plays out. this is a case with enormous national implications. >> if he were to grant the

injunction tomorrow at the hearing that would put a pause on anyone being able to access it until it goes through the process? >> reporter: yes. it is likely that any injunction would be appealed. should one judge for example here in amarillo, texas, be able to decide something approved for decades? a likely a lot of litigation ahead. yes, that is the first step. >> the supreme court upheld injunction last year. but before you go, the justice department also with a big announcement on the opioid front. they are suing rite aid around the opioid crisis, is that right? >> that's right exactly right. they are suing rightard arguing they vietnaolated the controlle substances act by filling prescriptions improperly. they argue that the chain w ignoring red flags. in a statement, the associated attorney general said that the pharmacists repeatedly filled

prescriptions for controlled substances with obvious red flags and alleging that rite aid intentionally deleted internal notes about suspicious prescribers saying these practices opened the floodgates for millions of opioid pills and other controlled substances to flow illegally out of rite aid's store. they say the chain ignored what is called of the trinity prescriptions for excessive quantities of opioids, oxycodone and fentanyl. thousands of americans have died as a result of overdoses. also this morning there is a notable shift from florida governor ron desantis. why he says ukraine isn't a fee for key foreign policy issue. biden administration hasn't been shy in the support of taiwan. why do they care about an island seven miles away? will ripley will be live to explain all of this.

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. former president trump took his 2024 campaign to iowa last night where he sharpened his attacks against ron desantis, someone expect today enter the race for the white house. listen. >> desanctimonious. he opposed, do you know that? we don't know if he is running. if he is not running, i would say he was fine on ethanol. >> there is that. this was trump's first visit to iowa since his announced for the bid of the white house fochlt. /*. speaking of florida governor ron desantis he is providing the clearest indication of where he stands on a major foreign policy issue. this is news that broke overnight ever desantis told fox

news's tucker carlson he actually kinda disagrees with most of his party are on ukraine. instead he sees it this way. saying, quote, while the u.s. has many vital national interests like securing the borders, addressing readiness with the military, achieving energy security and independence and checking the economic, cultural and military power of the chinese communist party, becoming further entangled in russia is not one of them. this is the thinking that desantis has and is not too far aligned with the stance of one of his strongest potential rivals former president trump. this is what desantis is saying now as the 2024 hopeful. in 2015 after russia illegally annexed crimea he was a congressman, he said then talking about president obama, quote, we in the congress have been. >> urging the president to provide arms to ukraine. they want are not asking for us to fight for them and the president has steadfastly

refused and i think that's a mistake. now he is saying f-16s, long-range missiles should not be going to ukraine. this really is one of tht point. this is a very big deal that he said this. >> it will be a very big point for the 2024 race. speaking of, the former president is going to be facing issues as well when he is possibly, you know, going to come under indictment and here in new york and you have this -- i was just reading it, testifying in front of a grand jury indictment for hush-money payments to the former -- well, to the adult film star. so we are seeing the 2024 race ship a up even though ron desantis hasn't officially thrown his hat into the ring. you have donald trump out there doing his same old thing he has done in '16 that he did in '20. then we have to figure out how are these investigations going to play into this. do we know? >> we don't know. that's what i think we have been talking about, which is the case in new york is not clear.

it's not like a slam dunk for prosecutors. so i think this the concern we have heard if they bring it and the prosecution is not successful how trump utilizes it, wields it in places like iowa and the trail. >> and georgia, yeah. i mean, we know how he is going to do it. the most investigated person, political figure in history, the democrats are after me, you know, it is ron desanctimonious, whatever he calls him, him, but he is going to blame someone other than himself for all of the investigations. we will see. meantime, the threat of chinese invasion is playing into this, invasion of taiwan is growing. if that happens the u.s. has vowed to fight in taiwan's defense. a battle between china and the u.s. over the self-governing island nation could result in devastating mutual losses which is one of the reasons taiwan is a critical interest to both superpowers. will ripley joins us with more.

hello, will ripley from taipei. tensions rising across the taiwan strait. where do things stand between china and the u.s.? >> reporter: are the united states under former president trump and president biden has been selling taiwan billions of dollars in weapons more than ever before, trying to get weapons into this island so it could defend itself potentially if china mwere to make a move. you heard the former president talking about he being able to prevent world war iii while cnn with this submarine deal with australia and the united kingdom is hoping there will be deterrence in this region and underwater power to prevent china from making a move on taiwan. >> reporter: chinese fighter jets streaming over the skies. military ships sailing off its coast. daily occurrences for taiwan. living under the constant threat of a possible chinese attack.

beijing's communist leader claims taiwan as part of its territory despite having never ruled it. tensions rising across the taiwan strait since nancy pelosi's visit in august, the first visit in 25 years. >> we will not abandon our commitment to taiwan. >> reporter: w china's response days of large-scale military drills encircling the island, firing ballistic missiles over taiwan. analyst fear this may be repeated again next month. taiwan's president tsai ing-wen expected to meet u.s. house speaker kevin mccarthy. >> are you saying that the united states would come to taiwan's defense if -- >> yes. we have a commitment to do that. >> reporter: the u.s. has reasons to worry about a chinese invasion of taiwan. protecting valuable semiconductor chips. taiwan is a global leader. tiny chips that power frefrg computers to stars. the island producing 70% of

global supply. defending democracy. losing to communist china would shatter stability. protecting u.s. alliances. asian countries would face a more powerful china with little freedom of speech. the stakes are high. but experts believe there is reason for optimism. >> do you think the u.s. and china are headed in a positive optimistic direction? >> the idea that conflict between the u.s. and china is inevitable i strongly disagree with that. >> reporter: meaningful channels of communication between the u.s. and the prc helps us minimize unknowns, minimize confusion and misunderstands and thes good for taiwan. u.s./china relations on a downward spiral since that suspected chinese spy balloon bursting months of beijing/d.c.

diplomacy. the u.s. and taiwan get even closer. taiwan's president and the third in line to the u.s. presidency meeting on american soil. as tensions escalate, all eyes will be on china and where is this all headed. when you look at the u.s. expanding its military presence in the philippines, encouraging japan to expand their role in the military. this nuclear submarine deal, the united states feels deterrence in this part of the world is crucial. and china's rhetoric is really sharp. from xi jinping all the way down, china is blasting the united states and it's apparently the external messaging matches what the tone is internally. they haven't reestablished lines of communication since the u.s. shot down the spy balloon. >> no, they haven't. they haven't had those conversations. we were just talking to natasha

about that earlier. and while we are seeing president biden taught the submarine deal, it's not a surprise, they announced this 18 months ago, was a big deal then. now that it's coming to fruition, this is happening with the back kbground of what every in washington was talking about this weekend china brokering this diplomatic deal between iran and saudi arabia. >> reporter: yeah, you are seeing these power plays. the united states, you know, is supreme when can comes to underwater power. so to have nuke submarines now rotating in australia in 25 years, australia can start producing their own nuclear snoouks changes the dynamic. china going to the middle east which has been a stronghold of u.s. diplomacy and brokering a deal, not the first, obviously, between saudi arabia and iran, but it is a message to the united states the fact that they were specific and clear that

none of the language would be in english when they were doing the negotiations. so that goes to show china's rising influence whether the negotiations will be successful, you know, it's also happening in africa where china is making economic investments. so it's economic and diplomatic power and military power and you have the u.s. and allies and you have china and russia and other authoritarian countries gearing up for this showdown, both sides trying to outmatch the other. will it be deterrence or could it evolve to something more and where would the flashpoint be? in taiwan is one of them, but there are plenty now. >> a scary look ahead. we will see where the influence game goes. >> thanks, will. okay. so we just got this reading on inflation we have been talking about all morning. christine romans with us. this was good, no? >> yeah. that's next.

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a number you are going to want to see just in as the latest consumer price index report that is a key marker of inflation we have been watching

for a year now released for today. christine romans is here. she has the numbers. it eased a little bit? >> 6% year over year inflation. that's way above the fed's target of 2%, but for eight months in a row this number has been a little bit smaller than the month before. so 6%, 6.4% last month and month-over-month 0.4% increase in prices. these are consumer prices. this is what you pay, folks. remember last month was a shock because it was half a percent and people were very concerned about, you know, reinflaming inflation here. when you look at where we're seeing these price changes, gas prices went down a little bit year year over year. food prices up 9.5% and shelter prices up 8%. the government saying 70% of the increase overall in inflation was shelter alone. so this is a rent and a housing problem in terms of prices. you had that gabe cohen piece about kids graduating from

college and living home about their parents. that's why. we have sticker shock in rent and housing. so these numbers i think come in in line with expectations. they are cooling a little bit, still too high. the big story now is what does the fed do next. with the banking turmoil the playing field has changed. >> to be a fly on the wall there. >> thank you. okay. the sudden collapse of silicon valley bank left thousands of business owners, startup founders really in the lurch. one of the companies is urban stems. you probably know them, right? on demand flower delivery, you know the famous boxes. the company has 150 employees here in new york, washington, d.c., they deliver nationwide. they had 100% of their cash assets banked with svb. the ceo of urban stem, seth golden, thank you for the time. >> thank you for the time. >> thank you for the flowers. >> you are welcome. >> i said can you bring some so

people can see what you do? we talked a lot this weekend, you and i, about what you were going through, what your board was considering, how this could happen. so what is the latest now for you guys with 100% of your money in this collapsed bank? >> we are an on demand flower delivery service. we never considered something like this could happen. as of 6:00 last night we got an email saying that svb was back open for business with a new ceo. i don't know exactly what that means. i am trying to get in touch with our reps there who are great, by the way, our partners there were great, and though don't know what's going on either. >> explain to people how you got into this situation with svb. so many of you startup founders banked with hthem and you had 100% of your money with them. why?

>> a lot of people said why didn't you have none elsewhere? we took a loan from svb. they were generous in some of the terms. you had to bank with them exclusively if you took a loan from them. >> put all your money there? >> yeah. >> so everything was at risk? >> yeah. >> how does this change how you do business going forward? because you had said this is the last thing that kept you up at night, would our cash not save? >> we are a flower business. we are used to things happening. before valentine's day a volcano was active. we worried if that would impact floral quality. there was ash spewing from it and it made skies dark over the flowers. those are the kinds of things we are used to worrying about. >> you think about volcanic ash, not banks collapsing? >> yeah. we have a tough decision with whether we sfa wstay with them.

we are not sure if there are any risks to leaving. we are not supposed to take our money out. >> says who? >> says our loan covenant with svb. >> they are now regulated by the government. they are now controlled by the government. >> we don't know what that means. >> how do you run a business like that with all of these unknowns? >> so the first thing we did late last week was we made sure we would be able to pay our people. after that we made sure we would be able to pay our critical vendors. once we had a plan in place we calmed down and said we are going to wait for the fed. i give them a lot of credit. they acted quickly and decisively. >> how are your employees doing? i can imagine what monday 9:00 a.m. was like. >> monday was okay. we felt like everything was going to be calm. so i thought it was my job to just stay very, very calm. and information, not panic. i knew we had a have plan one way or the other. and thankfully things sort of

work out the way we expected to. >> we had robert altmann on talking to katlyn, former high-ranking official at treasury who said what the confederate fiduciary and the government did over the weekend is so breathtaking because they said all cash deposits at all u.s. banks are guaranteed by us anywhere above the $250,000 limit. you are nodding. that's like how you view it now? >> yeah, i guess that's how we view it. it's an odd thing to say, where are you supposed put your money. where does apple have their money? i don't know. is it with j.p. morgan? i am sure in more sophisticated ways. where are we supposed to mutt our money? >> you feel it's protect you had by the government? >> i do. >> as much as you will put in any bank? >> we could never agree to only have one bank have all of our money. >> it's extraordinary. we are glad you guys are okay. keep the flowers coming. and thank you for talking us to. helping us understand what this means for main street. >> thank you so much.

and people want to use us as an opportunity to send loved ones flowers, we love that, too. mother's day is around the corner. >> thank you. >> don. urban stem. how long have you kept a library book? i have a story for you. big story. a few months? a couple of years? a person in oregon may have you or me beat. harry enten has this morning's number. (man) what if my type 2 diabetes takes over? (woman) what if all i do isn't enough? or what if i can do diabetes differently? (avo) now you can wi once-weekly mounjaro. mounjaro helps your body regulate blood sar, and mounjaro canelp decrease how much food you eat.

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hi, i'm michael, i've lost 70 pounds on golo. i spent thousands on other diets that didn't work. on golo, i spent a couple hundred bucks and got back down to my high school weight. you're not gonna believe this thing is possible but it is. okay. so the question is how many times have you checked out a book from the library, right, and you completely forgot to return it? one borrower in oregon really forgot, a book that was checked out 1979, finally made its way back to the shelves of the public library with this handwritten letter. luckily that library doesn't charge late fees, but the person who checked it out gave a $20 donation. harry enten with this morning's number. 20 bucks? >> 20 bucks.

>> they deserve more than -- i mean, i'm glad they got it back. they deserve more than 20 bucks. >> okay. so what's this morning's number? this morning's number is 44 years. that was when the hockey trick which the book was returned to this oregon public library after it was checked out back in 1979, 44 years later. i want to give you an understanding of what was 44 years ago. so tip o'neill was the house speaker. remember tip o'neill, the lion from massachusetts? billy joel had the topical bum. "laverne and shirley" was tvs top show. of course, the bills didn't win a super bowl that year, either. >> up managed to work them in. >> i always work them in. i guess the more things change, the more they stay the same, don. >> so should i tell you my story now or do you have something else to talk about? >> i will give you a little bit more here. i want to give you an understanding of the state of reading in america. so the adults who have read at least one plus book in the last year in 2021 it was 75%. in 1978 it was 75%.

so i think there might be this idea, right that is correct we're reading less, but n fact, we're reading the same amount -- the same percentage of people are reading as they were, say, 44 years ago or 45 years ago, but the way we're enjoying books has certainly changed, right? so in 2021 65% of americans read at least one book via print, 30% said an e book, 23% audio. compare that to a decade ago when it was 72% who read via print. so e books and audios have become much more popular, while print books have, in fact, become less popular. we are not reading the same way that we were. >> i wonder how many people are still going to libraries, too. there are beautiful libraries in communities that people i don't think they're taking advantage of. >> what's so interesting to me is it turns out there are actually more public libraries now than there were 30 years ago. so, look, they are not -- public libraries aren't dying, they are thriving, over 9,000 now, a little less than 9,000 in 1992. >> okay.

so here is my story. >> go ahead. >> the first book i ever checked out was a cookbook for children. i almost burned the kitchen down with the recipes making eggs, my mom got out of bed, she had to come and take the eggs off the stove. and then i guess i had a mental block for that book and i kept it at least three to five years and the library kept sending notices and my mom said you have to return this book. i think they waived the fees and we ended up giving a donation, but you think i kept that book for five years and i almost burned the house down because of that book. >> i still almost burn the house down when i try to cook. you are a better cook than i am i'd say. >> you know kaitlan and i returned all our library books early, obviously. >> of course. goody two-shoes over there. >> you took the words right out of my mouth. boom. "cnn newsroom" starts right after this. boom. passing through their uk port every year. don't just connect youour business. (dock worker) right on time. (vo) make it even smarter. we call this enterprise intelligence.

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