juicy burger, your dining companion says to you, actually that hamburger is not made from house. it's made from golden retrievers. should meet. 2 2 2 2 2 2 2 in meeting cultures around the world, people learn to classify a small handful of animals as edible and all the rest they classify as disgusting. a docu series about our complex relationship with animals. the great meat debate. this week on d w. i how much do you trust your bank? 15 years ago during the financial crisis, you had every right to respond, what trust, massive public bailouts, regulation reform stress test. they barely saved us from banks that were too big to fail. of the past 4 days have shown is that size is not all that matters fridays shut down of silicon valley bank is now the 2nd largest bank collapse in

u. s. history. and it's not the only regional bank to tank to they trading in baking shares on wall street was suspended a shock strong enough that you as president biden address, the american people, his message, our banking system is one that you can trust. i'm broke off in berlin. this is the day, ah, miracle you could have confidence with the banking system is safe, the man down back can don't. we want to make sure to, to troubles that exist at one tank. don't cruel contagion, busy and we see that the american government and financial institutions have acted decisively harden the words. everyone should be word.

capitalism works ah. also coming up a 1st at the oscars. michel yo has become the 1st asian woman to win the award for best actress. i keep telling you that i envision it for you. you know, you're going to go the man. ah, but you are. he was watching p b. s. in the united states, into all of the around the world, welcome, we begin the day deep in the red stock markets here, europe suffered their biggest losses of the year on monday of the shock waves from a major bank collapse of the us spread around the globe on friday, the silicon valley bank a regional obscure bank taped after its spooked customers with plans to sell its own shares to cover losses. in the span of 48 hours, the fear of contagion, forced us bank regulators to shut down another bank,

new york based signature bank on sunday. the speed of social media plus the cryptic impact of crypto currencies. both factors in this government intervention on monday, trading in some banking shares was temporarily halted a wall street. and it came after you as president biden attempted to reassure the public. this is not another financial crisis in the making. if not, then what is we begin tonight? with this report, the news cent bank stocks tumbling in the us asia and europe with investors fearing the biggest us bank failures in 15 years might trigger a ripple effects around the world. e or 30 say they are monitoring the situation, but do not expect the us failures to cause long term problems in europe. we take note of the swift under side of reaction by the us authorities. within the u, there is a very limited presence of silicon valley bank, and of course we are in touch with the relevant national competence authorities.

that message was echoed by e. u. finance ministers, including germany's close john lindner harden herb yard, am i gonna auto we have our own authorities in europe and parked in germany. for example. we have our own financial regulatory body, which is continuously monitoring the situation. these institutions have no doubts whatsoever about stability seems to it will chew on kinds. why for gelato status i have not. i have faith in general, brother in the us. the failures have brought back painful memories of the devastating meltdown of 2008 in a bid to lessen uncertainty and divert further, bank runs. u. s. president joe biden hurried to reassure the public. all customers who had deposited these bank can rest assured, i am rest assured they'll be protected and they'll have access to their money. as of today, no losses will be borne by the taxpayers. instead, the money will come from the fees at banks pay under the deposit insurance fund.

biden's stress that unlike in the past, irresponsible behavior by banking executives would not be tolerated. the management of these banks will be fired if the bank has taken over by f d. i see the people running the bank should not work there anymore. i'm going to ask congress the banking regulators to strengthen the rules for banks to make it less likely this kind of bag failure would happen. again. those rules were introduced after us bank sparked a global financial crisis in 2008 by aggressive mortgage lending. they were partially repealed in 2018 under then president donald trump. in the coming days that decision is likely to be in the spotlight. join me here. the big table now is my business colleague, stephen beard's. the stephen and the people are asking, how does a relatively obscure regional bank s v b suddenly become the 2nd largest bank collapse us history. yeah,

but the question of what system risk really is, right. this was a debate that we had 15 years ago over and over and over. it was a debate we had again in 2018. and now like you said, regional small to some extent compared to some the other big banks. but it's worth saying this wasn't really that small, he was the 15th or 16th in terms of total overall assets. when you look at all the banks in the u. s. and the region was actually very important here. this was a tech, every regions we both know at this point. as many of our viewers have heard. and that meant that it went, boom or boss with this specific branch. and as we may have noticed over the past few months, it's been a tech branch, has been hit more and more by the economic downturn, many lay offs. and what the bank said was that its cash burn rate had increased so much. in other words, it's deposits had fallen so much that it immediately threw it out of whack and the rest of it went from there. but the people in charge of the way they should have seen that coming right with inflation and with rising interest rates, i mean this stuff didn't happen over night. it was one of the biggest criticisms, right? is that this wasn't a surprise that came out of left field, it wasn't even based on a questionable security, like

a mortgage back security that dot, that, that dominated really the, the last financial crisis was very questionable. sort of collateral collateral sort of gimmicky sort of product that the banks were sharing with each other. this is really based on long maturity treasury bills. and so they should have been able to see the writing on the wall seen that interest rates are rising and saying, hey, our values are falling in assets and we're heavily dependent on a branch is going to be hit, especially hard. we need cash when we need the liquidity. do we have it worked the banking reforms that resulted from the financial crisis 15 years ago, were they supposed to prevent what we're seeing right now? they were, but again, it goes back the question of what is, what size of bank is really systematic risks? and that was something that became a political football. another piece mentioned a donald trump in there for of 2018 in which basically those reforms that initially came out on the obama administration deciding or defining the size of a bank. that was a risk to the system. it changed that definition and it changed it. and raised the

requirements much higher than anything below $250000000000.00. and assets was not a systemic risk essentially. and would have less scrutiny than those above that well, nation less regulation. if you are stress test, less liquidity requirements, there couldn't be a sudden liquidity demands or capital proof that was required of them like 4 banks that had more assets for example. so. so yes, there will be lot of questions about this. was this the right decision making 2018 at the time? those were in favor of this look. these institutions, small, medium sized banks, they need more flexibility to lend, to get money out there to the economy. it's going to go back into a political discussion and it seems now that regional banks, all of a sudden are now suspected the united states. and we refer to people today asking people in united states will this wipe out my retirement, or if not my savings. if this continues to grow. yeah, i mean, i think it's early to say that this isn't the same kind of system wide kind of threat that we saw back in 2008 in which the larger banks in particular were being

hit. there is, of course, deposit insurance will protect most people savings. but of course some pensions and larger pension institutions. investors are likely to be involved in this as they were in the british liquidity crunch that we saw last year. and that could affect some people are more than likely that should stay around the regional banks. that's the hope. but again, there's such a psychological aspect to this. so that could cause trouble in the days ahead in. that's exactly what biden and the administration are going to try and prevent, but to what extent are they going to promise to make the positive whole? it gets into the whole issue of moral hazard. it's really tricky situation. cbs is always needed. thank you. you as president job i did today, he stepped in to reassure americans at the banking system. there is safe. how do you feel about your money? dw news went out on the streets of los angeles to ask exactly that question to customers of the next bank. that's under pressure the 1st republic bank. i'm really not that worried about it and, but i'm just being

a little cautious. i don't think people need to panic at this point to depositors. they could have sat, they could have waited. i don't think there was that much urgency to really take it out immediately. but you know, they gotta be safe and sound so i understand what they did. but i think i personally, they could have been avoided. it's, it's horrible. i don't understand how something like that happens, but then i also know when you put so in an office with incompetent and he relaxes, you know, rules and regulations that put bags in place that can i had those happen? so i guess this was coming. so yeah, i am blaming trump for the well, i wouldn't say worry, but i want to take some precaution that somebody thinking how you doing, i think money out or i'm transferring some of my money out of that branch to another branch. i have that at the end of the day, it's about panicking. everybody panics, then it's like a domino effect. so i don't want to panic necessarily. but i just want to take some precautions on my next guest as well, place to judge how,

what happens of the us can have knock on effects right here in europe. nicholas baron is a senior fellow with a think tank. brutal in brussels and at the peterson institute for international economics in washington, d. c. and he joins me from washington tonight. it's good to have you with us. you know, 15 years ago we were promised no more bank bill out because the banking sector and regulators in the u. s. europe had learned their lessons or their parallels that you see the 2008. i mean, as the b seems like a bank to small to obscure, to, to fail. now, i mean, what's different this time? i'm not even sure where to start, because there is a lot of blame to be apportioned both in terms of the supervisory failures of failure. of the authorities to properly regulate and supervise taken valley bank so that this wouldn't happen. and then in terms of the crisis management, i think it hasn't been very convincing. at least on the basis of available information maybe is, are better arguments at the authorities haven't disclosed yet. and i think at the

end of the days of big decision that was made to guarantee all deposits, no matter how large beyond the insured deposit limit of 200, which into us is 250000 dollars per account. that decision was announced yesterday, and i think it's massive overkill, which we'll have a detrimental consequences in the future in terms of moral hazard into his banking sec won't. so i think there are lots of a lot of questions here. nicholas talk to me about this moral hazard because it me as, as i understand it, the only reason that they can, they can't guarantee all of the deposit it s v b is because we're only talking about one or 2 banks. but what would happen if we had 30 banks that were to go belly up the f d i. c does not have enough money to guarantee every one's deposits. does it? well, you know, it doesn't integrate, doesn't. so either johnson, your question is if we have 40 bank, they will do the same because at this point they cannot afford to do anything else, or at least that's my reading. now how is it going to finance it?

that's been communicated? yes it is. i wouldn't be what is called interview as dragon than us in special assessment on the u. s. bank, which actually means a levy are asking for banks to pay, asking all the other bank, the ones that are better run. yeah. pay for the failure of secret valley bank and signature bank. and to a certain extent, you can do that because that you have banking sector is big, but it's not what you would like to see. and they're gonna, they're gonna just pass on these extra fees to their customers, right? exactly. so when joe biden says there is no cost to the taxpayer, you may be technically right, but there are 2 caveats. one is that there is a special assessment which means basically a cost being passed on to the u. s. economy, anybody who uses banking services because the bank on the going to absorb those have caused by themselves. they can pass some of it on at least. and the other thing is that if things really go bad and the i c can no longer are basically financing guarantee of deposits. so living money from the banks, vendors,

the u. s. government will have to guarantee it because, you know, there's 2 ways that you had gotten and can lead to if you fail and everybody knows that to let you know that the taxpayers are providing the ultimate guarantee for this. and that's a pretty scary, and this is a chance where may be president biden, and the u. s. government, they're missing an opportunity to show some tough love with the banking sector. would you agree? i mean, i know that silicon valley bank that you know, they are connected to start ups but on main street the plight of. busy silicon valley bank is not going to matter much to people. they're going to be worried about their retirement accounts for their savings accounts. and yet it seems that this silicon valley bank is there getting a free ride here was specific. he's a customer as us. she can valley bank, so president biden said, you know, those are shareholders and one holders and management of 2nd by the bank. they're losing every single buy lots that's true. but then think of their shareholder and

management, the whole just thought of that had their account that secret valley bank were doing completely incompetent. treasury management were not managing 0 financial risk properly. some of them didn't even have a, have a certain bank account anywhere as that's not very competent. and these people are shareholders of managers. they have a bid out that's a bailout of to can valley. now everybody loves silicon valley. maybe it's good that we bid them out. maybe it's not. you tell me where you, where you tell me what do you think about of the start up executives, should they have done their homework better and maybe put their money somewhere else other than with as b, b, i me don't, they carry some responsibility here for what they do with their money. i think the rate, i would say a venture capital and start a business that's the business of making wrists and very concept that these entities have the right to being bailed out by to do with government. but because

that's what happened yesterday is some things that i think, figure a lot of the b because it means before we run out of time, european stocks, they suffered some big losses today. should europeans, should they be worried that this is just the beginning of something that will not end well on this side of the atlantic as well? i don't think so. i mean, of course we'll see what comes with the next few days. and i've been surprised. i that use a truth on friday. i didn't expect this big failure because frankly, i showed you as supervisor system as a fed. we're a doing their job to prevent that kind of thing from happening. so you know, at this point, i don't know what to think, but i think the structure of a banking and supervision in europe is very different as a technical term for what went wrong with sticking to sticking valley bank. his interest rates risk into banking book, and that's been in the area focus for european banking supervisors for several years. so nobody knows. but at this point, i'm not for expecting a lot of contagion to europe beyond the normal and predictable movement of friday

in the stock market. i think a lot of people are hoping that you will be proven right nicholas veronica, appreciate your time and your insights and i thank you. thank you ah. are known to the oscars and unconventional science fiction film is taken home. the top honors at this year's oscars, the comedy drama, everything everywhere, all at once. that is a total of southern academy awards, including the coveted gong for best picture. the german film, all quiet on the western front. it picked up for oscars. ah, one film dominated the show on hollywood. biggest night. the wacky and wonderful sy fi flick, everything everywhere, all at once. swept stephen oscars to rapturous applause. ah, with michelle yo, who was malaysian making history as the 1st asian woman to win beast actress.

for all the little boys and girls who look like me watching to night, this is the beacon of hope and possibilities. this is proof that dreams dream big and dreams do come true. and ladies, don't let anybody tell you, you are ever past your pride cues. co star, key white, one made a remarkable come back to claim. be supporting actor. following a 20 year acting hypothesis. my mom is 84 years old. and she's at home watching mom. i he does wired and asked her include dad, jamie lee curtis, when be supporting actress?

it was brendan fraser who's awarded beast accent for his role in the whale. itching out oscar faith threat. austin butler. this is with elsewhere, the were one impact all quiet on the western front took for awards. the most prizes a german film had ever one at the oscars. got this means so much to us, a year on from the infamous oscars slap and which will smith hit present. chris rock on stage. post jimmy kimmel poked fun at the incident. but this year, the show was remarkably drama free. with the attention back on the glimmer and golden statues in the morning, i want to bring an entertainment journalist k j matthews in los angeles. and if you follow k jail social media, you will know that she looked fantastic. yesterday i saw those pictures of u. k. j,

amazing looking good girl. let me ask you this. sure. let me ask you, were you, were you radiating because of the winners? were your winning picks yesterday? oh, you know, i don't want to pat myself on the back brand, but i'm going to say i pretty much nailed, almost all the categories. i think that was 80 percent correct. i knew there would be almost a clean sweep for everything everywhere, all at once. the man i saw them, i said this is going to be an academy favorite and i was right. they walked away with best picture and most of the acting knobs as well. so i want credit myself for that a little bit. well, what, what surprised you? what didn't turn out the way you expected? you know, honest, although i love the german film, i'm all quiet on the western front. i thought it was great. i did think that you know argentine in 1905. when i know it obviously won the golden globe and i was

thinking that it was kind of closer to winning the oscar and it didn't win. so i was a little bit surprised by that. but the other categories i thought much dessert, a one i like the fact also that they included all of the categories behind the scene categories and they took out last year. he was complaining that the show would well over 3 hours, we don't need to announce every single ward and people complain. and so now they're back in, or one ask about elvis. a lot of people saying that they expected elvis to bring in at least best actor that didn't happen was, was there maybe you know? yeah. what, what do you say about that? yeah, i did not pick. i didn't pick austin butler for. yeah. was i like the film? i will that austin butler did when a golden glow. however, if you see the film the well, and you see the way that actor brendan frazier has completely transformed himself as to being an, an obese guy who's suffering after the loss of his partner. you will see this is

the, the role of a lifetime. and he really deserve the best actor statue on that night. but what was it like being there last night? i mean, we have to say there was no face slap last night. yes, yes. but you know, that was the big elephant, right. all of us walked into the oscars thinking. ok, what are we going to expect from this? they're going to have to address what happened last year, mainly because even chris rock is still talking about is, you know, he just had a special a week ago, a netflix. so he's still talking about it. and according to him, he's still man, it's better. so the academy had to address, i thought that jimmy kimmel the hose, set the tone perfectly. he didn't be laboring, he talked about it, but he also pointed fun and other people and movies. and when i didn't make it the center of the night, i like the fact that he pointed, he kind of slap the academy on the wrist saying, you know, if you get out of hand tonight, the academy will reward you with the best actor statue. and you can be like the

audience and do nothing just like the, the last you know i, we are having an a morning quarterback thoughts in our head. but at the time that that incident happened. no one did anything with him. a would you say that he said the oscars and ceremony because, you know, we've talked to several years about things going, jumping the tracks for various reasons, but last night, almost felt. i don't want to say boring, but it was i yeah, it was uneventful in a good way. yes, it was uneventful in a great way and even he noticed that you saw on one time, right before they went to a commercial break, he goes back stage and he stops at this thing on the wall that says number of years of without incident at the oscars and they had one, he was keeping tally, basically saying it only happened last year. let's make sure it doesn't happen this year. so i think people like to tony said, but i think that the ratings might actually be a little bit higher because i think there were a lot of people tuning in to see how jimmy kimmel would handle the year after the

beginning. and what about ratings before we have to let you go? i mean, do we have numbers? i mean, were people watching? there are a lot of people watching the final nielsen numbers are not in yet, but i think last year they have something like about 166000000. don't be to be honest with you. we talked about this before every year. all the award shows have been going down mainly because of the fact that people are get news online and they're watching streaming platforms. that's to be expected. i think what people in hollywood the academy want it, they're going to lose just not lose that big of an i said, that's what they're hoping because they still a lot of money. 1000000 to millions of dollars off of the show. all right, could you mathews in los angeles, one of the big stars on the red carpet or i should say champagne carpet last night . kidneys are you talking with you? thank. thank you. and it was also a notable i for indian cinema, the elephant whispers one in the best documentary short category of the story is

about 2 people assigned by an indian government agency to care for an orphan baby elephant. the filmmakers spent 5 years at the elephant forest and reserve ending up with more than 450 hours of raw footage. that was at the down to 40 spectacular mit i. yeah, let me run it by the other wiley level, one of them that in the middle with the best original song went to the ear worm not to not to a slight beating up music by rianna in lady ganga. from film such as top gun, maverick, the frenetic song, and dex dance number, and said audience is cheering and dancing in theaters around the world. i talked

with a, there's no way you can listen to that and sit still. that is for sure. the day's almost done, the conversation continues online to find it on twitter either at the w news you can call me on twitter brent. gov tv. i remember whatever happens between now and then tomorrow is another day. we'll see you then everybody with

charlie, i'm out in a race car driving record break with 24 hours of little

red. 30 minute w o. the german mineral resource agency is sounding the alarm, is the country supply of key minerals at risk. geologists are looking for new sources of these raw materials and are offering council to industry and government . the biggest concern, the valuable metals are difficult to obtain and are becoming increasingly expensive . to morrow today. in 90 minutes on d w. m. r. flying rivers formed by hey waterfalls. perspiring trees or c evaporation during forest fires like the by they'll get the answer in

a invisible river that flows through the sky. starts march 23rd on d w. oh, we're all set with a to go beyond the obvious with all in as we take on the world, we're all about the stories that matter to you. whatever it take policeman following with me on fire made for mines. ah, oh, frankfurt houghton, international gateway to the best connection, south road and rail, located in the out of europe. you are connected to the hulu world experienced outstanding shopping and dining office. and johnny,

our services will be our guest at frankfurt. a bought cd managed by frappe, bought lou or oh d, w, news live and from berlin. tonight, you as president joe biden attempting to reassure jittery people and markets after the collapse of to us bank. stock markets were largely down in monday, trading. but by telling the nation that the financial system is south americans can rest assured that our.