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dramatic new video released by the u.s. military showing the moment a russian fighter jet harassed a u.s. drone over the black sea forcing it down. >> this was also part of a pattern. >> a senior russian official promised they would try to recover what they could from that drone. >> kremlin spokesperson saying today that the relations between the two countries are at the lowest point. >> we don't want to see any escalation. there is it no need for that. >> georgia investigators have another recording pressuring election officials to overturn the election. >> third phone call is to the speaker of the house of the georgia state house. >> what this would show me is donald trump had a specific strategy and approach about how he was going to go about pressuring the state officials. >> donald trump wanted it done and went person by person to try
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to get it done. >> fears over the broader banking industry are local. the central bank is ready to bail out credit suisse if necessary. markets are tumbling around the world. >> the u.s. banking system is solid. footing is much better today than in 2008. >> we're now david getta re-creating eminem's voice for an ai track. >> this is the future race now. >> do you think there needs to be regulation? federal regulation around artificial intelligence? >> that is very free and open right now. but at some point, yes. >> march madness is under way. 64 teams have their eyes on the final four. >> they made it to the tournament. they still have fears. check out the signs before the game. hey, ref, don't you know who our
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fathers are? he said ease up or we'll crash another bank. >> we begin, good morning, everyone. don and i are here and kaitlan is in d.c. we're now seeing that video of a russian fighter jet hitting a u.s. drone and forcing it to crash into the black sea. kaitlan, it is so stunning. it looks like something out of hollywood. this is real and between russia and the united states. walk us through what we're seeing. >> it is remarkable to see with clarity what we've been hearing from officials in recent days. now to lay our eyes on this video. this is video that has been released by the u.s. military. european command. this is what they've been talking about. this situation and encounter that we're told lasted for over 30 minutes. you see a russian fighter jet here approaching a u.s. drone. that's where the camera is. u.s. officials say that is when it dumped fuel on the drone. several steps were taken. they speculated about maybe trying to disable some of the sensors that were on that drone.
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of course, what this also confirms and what a senior administration official told our colleague is that this does confirm there was physical contact between that russian fighter jet and the u.s. drone. we're live at the pentagon as this video was released. natasha, they're telling m.j. this does confirm impact happened. the russians had been denying. >> exactly right. so this video really does contradict what the russians have been taking repeatedly over the last several days which is that the fighter jet never actually made physical contact with that drone over the black sea. we can see here in the video, that russian fighter jet approaching the drone releasing that jet fuel and then after the video cuts out because of that moment of collision, you can see afterwards that that propeller is actually damaged. and that is what u.s. officials
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have been saying over the last several days. really that propeller could have been damaged by an impact from that plane. so this video really reinforces what the u.s. has been saying about this. and the russians have repeatedly denied that there was any kind of foul play here. they say that they approached the plane and that ultimately they kind of went back and landed safely. obviously, that is not what happened here. the u.s. is likely releasing this video now because they want to prove their version of events. now we should note that we reported just last night that senior russian defense officials did actually order the pilot to move forward and harass this drone. this was not some rogue behavior by a couple of russian pilots here. this was actually a direct order from the russian ministry of defense. again, kind of contradicting the russian narrative of events here. it remains unclear whether this drone is going to be recovered in the black sea. the black sea where it landed is about -- is very deep.
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it is 4,000 to 5,000 fight of water. the russians have actually gone to that crash site and they are going to try to recover it. the u.s. saying it could be very difficult. however, we are told that the u.s. did take steps to wipe the software from that drone as a kind of plummeted into the black sea. there is nothing really of intelligence value that russians could obtain anyway. >> chairman millie spoke with the respective russian counterparts and the russian military for the first time in months about this incident specifically. >> we're going to continue to follow that. i'm going to bring in our senior military analyst and former member of the joint staff at the pentagon. colonel, thank you so much for joining us. there is so much questions around this. the russians are saying it
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wasn't intentional. it is intentional if it you're dumping fuel on it. that puts the jet in extreme danger. >> you're right, don. that's exactly it. the pie lots were clearly told based on our reporting and what we're seeing with our own eyes right now, harass this drone. they were told to bring it down. they got a little too close. the after picture and actually shows a blade. and that bent blade is clear evidence that the russian plane actually hit. made physical contact with the drone. >> it's rare we see this kind of video and this kind of military action, right, get the video of
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it. >> what is normal is knowing anything that is close to your border. they'll take a look at it. they'll decide whether or not they can move on from that. that drone is not a threat to the russians. it was over international waters and airspace. it was actually working on a reconnaissance mission which is allowed by international law. the way the russians reacted to it is was aggressively. it's right there where all of the activity is happening. a lot of the activity is happening in the ukraine war. >> you see the image that is up now. of you look at the propeller. it is damaged in another picture.
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after seeing what happened to the drone -- there's the image right there -- and the damage dshg, did the military have any options to save this drone? >> unlikely. the propellers have to be intact and formed in the original way. if a bent propeller is involved in something like this, it can really damage the ability to steer the drone properly. it would potentially result in accidents happening. from a safety of flight perspective alone, it was important to move the drone out of the area and one way to do that is to crash it. >> i'm paraphrasing not the original question but either kaitlan or phil who said that general millie was asked whether there this was an active aggression or an act of war. what do you say to that? >> definitely an act of aggression. i think calling it an act of war is going a bit too far, don.
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you know, this continues, if this type of behavior continues, then the ante is being raised and we can be talking other language very shortly. but at the present time, this is an act of aggression and treated as such. >> this is what john kirby was saying about the possible escalation and did not want that to happen. this appears to show it could happen, right? considering this confirms what the united states has been saying about what happened with this drone. colonel leighton, thank you very much. >> we have big developmentes in two different investigations into former president donald trump. the probe in georgia and the stormy daniels hush money investigation in new york. we're learning there it s. another recording of president trump pressuring another georgia official to overturn the election laws. this times it's a phone call with the states republican house speaker. here in new york city, stormy daniels met with prosecutors yesterday as they near the end of that investigation. trump's former fixer also
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finished testifying yesterday before the grand jury. that makes two appearances from him in a week. cohen will join us right here on cnn this morning in the 8:00 hour. let's get caught up on all of this. wow. so much in a few days. >> yesterday was a wild day even in donald trump's standards. and related to court proceedings. we have the members of the special grand jury revealing the details of the investigation. and then here in new york, he had the former alleged mistress and fixer both talking to prosecutors. >> two investigations into former donald trump heating up with possible indictments coming down soon. they spoke to key witnesses into the investigation of hush money payments made to stormy daniels.
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>> my position is at the end of the day, donald trump needs to be held accountable for his dirty deeds if that is the way that the facts play out. >> trump's former fixer and personal attorney concluded a second day of testimony wednesday. daniels' attorney says she answered prosecutors questions and agreed to make herself available as a witness. they trited trump to testify last week. trump's legal team says he won't testify and they're proclaiming his innocence with one of his lawyers making this striking prediction if his client is indicted. >> i think it will ultimately embolden his supporters and give him more strength. it will be proven to be wrongly accused. on the other hand, who in their right mind wants to be indicted and charged with a crime? nobody. >> the atlanta turnl
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const journal constitution is saying they heard a conversation between donald trump and the former house speaker. in the recording, trump is pushing for the speaker to call a special session to overturn joe biden's win in the state. one of the jurors recalled ralston cut the president off telling trump, i will do everything in my power that i think is appropriate. the atlanta journal constitution spoke with five jurors who spoke on the grand jury investigating trump's actions in georgia after the 2020 election. one of those jurors says they were presented testimony about a meeting and then senator and trump ally david purdue had with bria brian kemp where he was to convene a special session to challenge biden's election win. really extraordinary insight into the grand jury process there. this is not the information we usually get particularly before there is any indictment.
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we know this grand jury has recommended multiple indictments. if you talk to the former president's legal team, they are concerned about georgia in terms of charges being brought. they're not, however, they say, worried about a conviction. >> paula reid, fascinating. wild as you said. >> i don't know how you keep up with it. >> thank you, paula. >> back here in washington. the faa held the first emergency summit in 14 years. industry experts are warning as they were gathered here in washington alongside transportation secretary who is calling on them to help figure out the root causes of the recent uptick that we've seen and reporting o non aviation incidents. this comes as series of near misses involving commercial flights at u.s. airports across the nation. the faa is investigating seven incidents alone just since the start of 2023. we're covering all of this and pete joins us now. emergency summit. first time they had one in 14
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years. what were the main take ways from it? >> you know, what's so interesting about this is the last time they had an emergency summit like this by the faa, back in 2009 following a fatal crash of an airliner. in this case, in the seven incidents, the dramatic runway inke ink incursions, there are no fatalities. the faa is vowing this is just the start of a sweeping safety review here in washington. after this meeting, it announced no major changes to policy. no single root cause. but it is trying to widdle down and aim down the possible causes. readout, there is an examination of the data. they're going to look at new technology that can be put in place that could potentially alert air traffic controllers to collisions about to happen. they're also going to look at pilot and crew fatigue and stress. and that is something that
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transportation secretary pete buttigieg told me about yesterday during the safety summit. he said there is a kind of rush and this may go back to airlines struggling to rebound from the pandemic. listen. >> what we're finding is that pilots, ground crews and controllers alike seem to be experiencing this uptick. some described it as a kind of rust. but that needs to turn into a very concrete diagnosis. and specific actions steps. >> the head of the controllers union, the air traffic controllers union also spoke after the end of the session. he told me that there is one other problem in the mix here. something that is new that we're hearing about. a shortage of air traffic controllers not only in towers but other air traffic control facilities. he says the onus is really on the faa and on congress to find the money to upstaffing to avoid these near collisions in the future. kaitlan? >> yeah.
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i mean, we'll see when the changes go into effect. clearly something everyone is watching. pete, thank you. you can go into the cockpit for a closer look at the problems. we're going to host a episode of "flight risk" 9:00 p.m. eastern on cnn. i know you'll both be watching that closely as i will. >> i'll have it on but looking like this. i do have a very healthy fear of flying. >> both of us. >> we'll get back shortly. this just into cnn. ahead of janet yellen's testimony, the treasury secretary is stressing two americans bank deposits are safe. bank deposits are safe. this as the dow futures and credit suisse are both down at this hour. next, we'll speak with republican congressman patrick mchenry. what he is doing in congress to keep the fallout from spreading to other banks. -in-a-million. someone who thinks with their hands.
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all eyes going to be on treasury secretary janet yellen. she is going to be testifying before the senate finance committee in the wake of the sudden collapse of two u.s. banks. supposed to be a hearing focused on the budget. of course, this is going to be a major topic. moments ago, cnn got an early preview of the prepared remarks. we're told that secretary yellen is expected to tell the senate committee that, quote, our banking system remains sound. americans can feel confident that their deposits will be there when they need them. so joining us now for perspective is republican congressman from north carolina, patrick mchenry. the main question is are there going to be congressional hearings on this? >> sure. there will be. the fact that they're in consistent communication with the regulators and administration for the last week, you know, i think pretty
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good understanding of how they responded. i think they responded well. we have to get to the bottom of why this happened. we'll develop a plan for hearings and witnesses and things of that sort. which is natural. and in the event and circumstances we just been presented with. >> when it comes to the why of how -- or the how of how this happened, we have heard from some lawmakers who have been very critical of the 2018 rollback of the regulations on the banks. you voted for it. you are very positive about it back then saying that you believe that it helped small banks. do you still stand by that vote? >> yes. and the evidence they use to justify that is their political belief they didn't like the bill in 2018. it has nothing to do with the contents and legislation. there was a recent study that if
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that rollback didn't happen this bank run would have still happened. what they're doing are dining on the it up call book of business and resorting to that as the answer and sholution for what just happened. it is my responsibility to get to the bottom of what happened. then we can decide on the path forward. there are a number of different theories here. there is a management failure. supervisory or regulatory failure. failure of regulation. failure of law. and then the bigger question that we're all experiencing, the average american familiary is experiencing is inflation. will all of those theories are simply theories at this stage. and we have to get to the bottom of what happened. >> do you think this ends up with new legislation? >> we'll see. but for me to say a couple days into this that it requires new legislation is very
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presumptuous. that's actually what legislators always try to respond with. legislation. it's my goal actually to figure out what happened before we actually jump to conclusions. do you agree that should happen? >> we have to see what happened first before you can make that determination. what we do know is management in the two banks that failed have been fired. and that's what happens in a bank failure. that's as a force of law we have. if you have to come in and backstop the depositors like the federal deposit insurance company has done for 90 years, you lose your job. the bank executives lose their job. as a consequence of this, if we see malfeasance and mismanagement, we have a solid determination of that, the consequences should on on the executives of the firms. >> so that is on the table. overall, we heard this argument
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based on the actions the administration took which secretary yellen is asked about today that the u.s. is moving closer to a nationalized bank system. now that all the depositors are being insured. do you agree with that? >> i think that is a horrible outcome. as a result of the dodd frank act and failures of the 2008-2009 financial crisis, we have larger banks and fewer of them. that is problematic for our financial system. it is problematic for competition among financial products and consumer choice. so i think it's important that we think about community and smaller banks and regional banks and make sure they're able to exist on a going forward basis. you're saying it's a horrible outcome s that happening? >> absent -- making assurances to the american people, they don't need to move their accounts. the action over the weekend was designed to do. that would be the inevitable
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outcome. i think in that respect, the movement of money between financial institutions tells me that we have a flaw and the design of our law and regulation at this point in time. do you still favor a clean debt ceiling? >> i still hold by that. but they're not votes to do what i want to do. so i'm working with my colleagues to seek -- to come up with a legislative lugs to this very challenging situation. i would encourage the administration to have more active outreach to capitol hill, more so than they've done. so far they have not done really anything other than speak or meet with the president one time. i think that is not a confidence building exercise, frankly. >> they say they want to see the republicans' bucket. do budget? >> the first thing we have to do is analyze their budgets and see
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the validity and underlying assumptions they made and then we'll make our decision about offering our budget. i would likewise like to see the senate democrat majority produce a budget for themselves as well. we like to see whether or not house and senate republicans support the biden budget. that will be also an encouraging sign. >> do you have a tlinl ime line? >> i'm not in charge of time lines. i'm committee chair. with very to come up with our policy response. but first, understand their policy initiatives they put forward to capitol hill. >> they unveiled theirs last week. >> they unveiled a budget. they did not unveil a debt ceiling offer. >> they said there has to be negotiations, right? they want it to be what you want it to be, a clean debt ceiling with no strings attached. but some republican colleagues say we want x, y, z attached. >> yeah, there are not votes for that. i'm convinced there are not votes in the senate for a clean debt ceiling increase. if they wish to do that, they
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could do it today. >> we'll see when they do it. patrick mchenry, thank you for joining us. >> great to be with you. >> there is a lot going on and you have a lot to get back to. thank you. >> don and poppy, you heard that there. we were talking about what is going to happen today. we have that hearing with secretary yellen. a lot of questions lawmakers still have about the fallout from svb and the collapse of that bank and others. >> they can do it today. kaitlan, you know, that's not how it works in washington, d.c. >> it is interesting. seeing a high ranking republican on such an important committee agreeing with the white house on that. saying there is not enough votes to do it on a clean debt ceiling bill. thank you. we'll go back to you soon. the high stakes hearing yesterday in texas on medication abortion. a group of governors now hoping to secure access to it in their state. the letter they wrote. we're going to be joined by one who signed it. that is the governor of maryland, wes moore. he is here live. with 20 grams of protein for muscle health versus 16 grams in ensure® high protein. boost® high protein.n. now available in cinnabon® bakery-inspired flavor.
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welcome back. as soon as possible. that is how fast a judge in texas wants to rule on a very high stakes case over an fda
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approved medication abortion pill the judge made the remarks. he said them yesterday after he heard arguments that could decide the fate of that pill. it is a medication abortion drug. it is available for 20 years. the fda wants a political injunction requiring the fda to withdraw or suspend the approval while the lawsuit plays out. they appeared open to the anti-abortion group challenge. he also questioned whether there is any precedent for the court to overturn a long approved drug. if the judge rules in favor of the challenge and grants an injunction, it could disrupt access to the abortion pill mifepristone. this is why democratic governors in 14 states wrote this letter. they asked the heads of a number of big national pharmacies whether they plan to continue to
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dispense the abortion pill as well as any other actions to safeguard access to reproductive health care. we're joined by one of the co-authors of that letter, maryland governor wes moore. good morning, governor. >> good morning. >> there is a chance that the judge could issue an injunction. what would that mean for the people of maryland? >> the thing that gets me about the argument, we're talking about a drug that has been on the market for 20 years. there is no scientific basis for this challenge. this is a purely political challenge. and the thing that we've said for people in the state of maryland is as long as i am am governor, we are going to make sure that maryland is a safe haven for abortion rights, full stop tha stop. that meebz ans we're going to u every tool at our disposal. we released funds to support abortion training clinics and making sure that people have not
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just the training but the physical security to ensure that abortion rights are going to be -- are going to be safe in the state of maryland. that we have four bills right now working through the legislature that i plan on signing if they make to my desk that focus on increasing access. increasing privacy, supporting out of state patient who's are coming to the state of maryland. so we're going to make sure that maryland maintains a safe haven for abortion rights. the we're proud to work in partnership with other governors to do this. we know the attacks, the creative attacks that are now happening on reproductive rights are not scientifically motivated. they're politically motivated. >> who would this affect most in your state? we remember years ago when former justice ruth bader ginsburg taulked about the acces of abortion affects minorities and poorest women the most. they cannot travel out of state, for example. who you are most concerned about?
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>> that's right. as always, we're concerned about the most vulnerable. you're absolutely right. if if you look at the disproportionate impact on this restrictive reproductive rights and restrictive reproductive freedoms they have on women of color, that they have on underresource, they have on younger women, you know, we know that the impacts that we're seeing here are not seen evenly. so when we have in maryland, our philosophy, our motto is leave no one behind. that really does focus on make shurg tha -- making sure the most vulnerable are protected. >> you've only been on the job for a few months. you have a lot on your plate. interestingly, one of them is a healthy battle with the basketball challenge thrown in there between you and governor yunkin in va va overirginia. you wrote several reasons why it should be in maryland. you included, you said should be the logical choice including
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racial equity as one of the reasons. can you explain that? >> look this is a legacy defining choice by the biden administration. this is the largest project that gsa has ever -- has ever decided on. the largest infrastructure project since the pentagon and cia building which boning went to virginia and has been part of the spur for the economic growth of virginia. the what my argument is that we should just stick to the guidelines that the fbi and jsa have already laid out as to where they're going to put the new building. they said they want to focus on cost. to put it in virginia is going to cost the american taxpayer around a billion dollars more. to put it in virginia. they said they want to put this on transportation access. maryland is the only build ready site that has transportation assets and metro systems that are currently in place. they said they want to focus on the future mission of the fbi. director ray said huge part of the mission is going to be cyber and cyber threats.
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maryland is the home of nsa. and u.s. cyber command and for the immediate. he said they want to focus on racial equity. will thing we know is if you look at economic competitiveness, the largest 150 jurisdictions in this country, northern virginia and fairfax county ranks as number two. and much of that is because of the federal investment they received. prig prince george's county ranks at 107. that's because of the lack of investment that has come onboard. >> we invite the governor to come on and make his pitch as well. i think he would take issue with the argument you made. he is welcome to come on the program. let's move on to two other topics. let me move on to two other topics. one is president biden. you've been such a supporter of his, including a re-election bid. you really want him to run again in it 2024. i want to ask you about what we've seen in the past few weeks in terms of a real pivot to the center on key issues. for example, overturning the dc crime bill which a number of
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democrats including the mayor of d.c. were very disappointed with the number of progressives really disappointed with that as you know. also the approval of the will of oil project in alaska. do you support the president's moves on both of those? what do you make of this pivot? >> yeah. the thing that i know is that, you know, the president, if you think about the first -- our first weeks in office. the president has been to the state of maryland three times just in our first weeks of office. the first time was to announce a partnership we have with the frederic douglas tunnel which is going to provide 30,000 jobs here to the state of maryland. the second is focusing on broadband infrastructure. a huge priority of mine. making sure that everyone in the state of maryland is going to have broadband access to affordable and accessible broadband all throughout the state in urban and rural environments. when i think about public safety and issue of public safety, we all know, the number one priority for any chief executive is make sure that your people are safe. both safe in their own communities and safe in their
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own skin. i know that you can have policing that moves with appropriate intensity and absolute integrity and bltability. that is not a choice. you have to do all those things. when i think about what it means to be able to support getting and making sure and that we're keeping vie olent offenders off our streets and illegal guns off the neighborhoods -- >> just to be clear, governor, do you support. [ inaudible ] the things that i just mentioned. >> yeah. well, i -- when you look at what happened within public safety, you look at the state of maryland, we were the first state to have rectified laws in place. we had -- we essentially had universal background checks. we know these are things that do work when it comes to reducing violence inside of neighborhoods. we also know we can't stop there though. >> but -- okay. to put a button on it. are you support of the significant moves that president made that have some of your
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liberal colleagues, not very happy. yes or no? >> yeah. well, i know that the president's decision on a crime bill in d.c., you know, does not -- when i think about the state of maryland, we no at the that our impact and the work that we're doing right now both with the federal government and local government to reduce violence in the state of maryland that it is working. we plan on continuing to double down on that investment. >> all right. we're out of time. i tried to get your answer on that. governor moore, we appreciate it very, very much. i hope governor yunkin will join us as well. thanks very much. >> i hope so too. thank you. >> bye. don? >> all right. thank you. so sell your stake in the app or face a ban. why the biden administration is pushing for a sale of tiktok.
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all right. you see the white house there on this thursday morning. it comes as the biden administration is now threatening to ban tiktok from the united states unless the application's chinese owners agree to spin off their share of the platform. lawmakers have argued that the app is a national security risk, alleging that americans' data can be accessed by the chinese government. tiktok's owner disputed that. the company says the u.s. user data is only be accessed by u.s. employees. joining us now to talk about this is cnn media analyst and axios reporter sarah fisher. we've been talking about a possible ban here for months. this is efforts by the trump administration. could this really happen this time if they do not comply with the request that we're seeing from the white house? >> yeah. i think so, kaitlan. the committee for foreign investment in the united states is trying to negotiate a deal with tiktok to figure out how the app can remain without
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selling to a u.s. company. tiktok has given a bunch of concessions. they promised to store u.s. data here. they promised to give a u.s. company oracle insight into the algorithms to make sure there is no content moderation problems. what we're hearing from a source in tiktok is they have essentially decided that if they don't have their owners sell the u.s. stake they will face a ban. as you know, that is a momentous decision. there the are over 100 million users of this app in america. it would be a huge escalation as well of the biden administration's tensions with china. >> it absolutely would. given the number you cited there, 100 million people here in the united states using tiktok. everyone knows someone who uses it. is the infrastructure in place for it to be spun off? logistically, what would that look like? >> that's a great question. that's part of what tiktok would argue would be a little bit difficult. at the same time, they're taking steps right now to separate it out. that's part of what their project effort is. they're essentially separating
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the back end user data in the u.s. so that they can protect it. that makes their argument a little tougher. of to your point about whether or not there is infrastructure to ban it, you have to also know there is infrastructure if this thing goes away to support the american need for it. when biden started to look into this, tiktok has now grown so many competitors that if it were to be removed or banned from if the u.s., it's not luke the ame like the american consumer doesn't have kpetives. meta has reels. snap chat has spotlight. the infrastructure to support that need still exists. >> yeah. that's fair. we'll see. this will be a monumental decision though still. sarah fisher, thank you. don? >> all right. kaitlan, thank you. the mediterranean diet topped the list for best overall diet for six years in a row. a study finds that the mediterranean diet my lower heart disease risk in women by 24% and lower early death by
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when they need them. one of those ceos, umb finance based in kansas city, mariner kemper. thank you for your time. begin with why moody's placed you guys on this list that no one wants to be on. they say a high, we know from your filings, a high percentage of deposits are uninsured and mood e moody's says that makes your funding profile more sensitive and at risk. what do you say? >> well, first of all, let's be clear. they have not issued their opinion yet. so i meet with them later today and we fully expect to redirect the misinformation and get back on track. but specifically related to uninsured deposits, we do have a high percentage of them, but it's based on our business model. we are a commercial bank doing business with businesses and by
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definition those relationships have more than $250,000 in deposits. but these are deeply integrated relationships that have been with us 10, 20, 30 years. we have been in contact with all of them. they stand in solidarity. they are deeply integrated with other services. they are not just depositors. and the other thing is different from svb, they are highly diverse. so we don't have any one sector in our deposit base that has more than 6% deposits in any one sector, whereas they had 45% of their deposits in tech alone. >> no, i hear you. that is a difference. similarities are catering to businesses. therefore, a lot of the accounts have higher amounts above what is insured. >> additionally, 6 billion of our 30 billion in deposits are to governments and by law they have to be collateralized.
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so they are essentially insured. if you put those numbers back into our numbers, we go from 75 to low 50s, which is in line with the large banks. they don't account for that. i will share that with them later today. >> okay s your reading from what the government did here to step in and secure the deposits all the deposits at signature and svb s it your read the government would do in for any failed bank now? >> i would redirect and say there isn't a financial crisis. that's an idiosyncratic term. there is no crisis. this is not my first trip to the rodeo as it relates to crisis of confidence. i have been in this job for 20 years. all of our depositors on a great preponderance have recommitted to us and it's already over. >> i don't know that it's over. look at the pressure on first republic.
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i hope you are right. you have folks lake ray dalio, who funded one of the biggest hedge funds, likely the bank failures will be followed by many more problems. the next two years will be a risky time. larry summers told me about a credit crunch with rapid interest rate increases. how can you be sure? >> well, i can be sure because you look at the current data and the current data says there isn't -- it comes out every quarter. there is no credit crisis. credit looks pretty good at the banks. we don't have any credit problems to speak of. and i don't think most of the regional banks do. you know, auto venture capitalist, head of a firm as a talking head doesn't speak for the nation, the industry. i have been doing this 20 years and i would say that we don't have a crisis. >> yeah. trying to calm nerves. final message and i got 20
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seconds left to customers who are worried and say should i move my money to a bigger bank? >> well, again, no crisis. but as it relates to unb, we have a 65 loan to deposit ratio. the comparison to sun break, they had 70% of their assets tied to securities. 60% of my assets float with interest rates. so we don't have an issue related to a squeeze. and so anyway we've got -- we are highly liquid, great regulatory capital levels and i have already talked -- the great thing about being a commercial bank is you can talk to all your customers. many of them have recommitted. yesterday we doidn't have any outflows. this thing is over. >> that means people were not taking their money out of your bank yesterday in layman's terms. we appreciate your time. you are welcome to come back

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