♪ larry: you know, the fed if supervisors should supervise, just do their job with banks, and biden's fdic should sell the bank finally, do its job, and then everybody should watch elizabeth macdonald coming up next. elizabeth: couldn't agree more. thank you, larry, great show. we have this story, this surprise move by moody's, not

believing president biden. moody's downgrades its outlook, it goes negative on the entire u.s. banking system after the collapse of three u.s. banks in just five days. and the federal reserve will probe itself. why it did not catch the collapse of silicon valley bank. barney frank says you cannot blame it on trump as president biden and democrats are now doing. with us tonight the, senators mike braun and rick scott, economist david bahnsen and ej antoni, grover norquist with americans for track reform, leo terrell and jon levine with the new york post. the collapse of silicon valley bank, its board had a sun thing lack of bankers. concern stunning lack of bankers. and the push on esg, the governance, the oversight part of that is ignored. plus, break through in the gop house oversight probe into hunter biden, we've got it. and the new push for a 9/11-style commission into china and the pandemic after cbs reports china overbilled the

u.s. by, quote, tens of millions of dollars for china's wuhan labs despite dr. fauci's conditional cans. and former president trump reveals his plan to fix the crisis in u.s. public if schools. his fight with mike pence is heating up. i'm les macdonald -- liz macdonald, "the evening edit" starts right now. ♪ ♪ elizabeth: welcome to the show. look at that, stocks ending up. regional banks in a turn-around for now after the failure of those three u.s. banks within five days, silicon valley bank, signature and silvergate. this is on hopes the fed will do smaller rate hikes and inflation for february came in at 6, still a 40-year high, real wages after inflation down for 32 the straight months. so what will the fed do next week with rate hikes?

if they've been slamming america and u.s. banks. grady trimble is live at the white house with more. grady. >> reporter: hi, liz. even though inflation is still running hot, president biden is seizing on the fact that it's the easing and going on the attack. i'll do everything in my power to prevent us from going backwards, the president says, including by standing up to congressional republicans who threaten economic catastrophe over the debt limit in order to secure tax cuts for the wealthy and corporations and reckless cuts to critical programs that american seniors ask families count on. president biden touting the fact that inflation is at its lowest since september of 2021. it's still substantially higher than when he took office though. some areas where americans are paying a lot more, every time they go to the grocery store or out the eat with food prices up 9.5% from last february. that includes all of these staples from eggs to milk to

coffee. and as you plan spring and summer vacations, unfortunately, airfare and hotels are still way pricier than a year ago. so when it meets next week, the fed will have to weigh that reality of higher prices for consumers with the banking scare. on that topic, fox has learned today that the justice department is looking into silicon valley bank's failure. the securities and exchange commission is as well, liz, and as far as we're aware and as you might expect at this point, still in the very early stages of those investigations. elizabeth: grady trimble, thank you so much. joining us now, economist david bahnsen, founder of the bahnsen group, and he's the author of the book with, "there's no free lunch." also grover norquist president of americans for tax reform. gentlemen, great to see you. grover, what did you make of moody's not believing the president, saying all is safe in banking? it's downgraded its entire outlook on the entire u.s. banking system. it's talking about a rapidly

deteriorating operating environment. we haven't seen this kind of movement out of the credit rating agencies, grover. remember when season cut its rating -- s&p cut its debt in 2008? that really angered the obama white house. >> yeah. i think when you look at all the challenges, people want to think it's one thing here. well, inflation and interest rates going up is a big thing. many banks have bonds that are declining in value. that's a systemic problem. the whole regulatory approach. biden's also declared war on whole sectors of the american economy. we're going to eliminate oil, natural gas, coal. that's a lot of jobs, that's a lot of regions. when you threaten like that, i'm not surprised that these problems don't pop up in more places. elizabeth: yeah. to what grover's saying, you know, the federal reserve, you know, it's a matter of oversight. if the white house is going another the all of its attacks on big business, david, this big story, the federal reserve says

it will do an internal probe of why they missed silicon valley bank's collapse. you know, it could involve san francisco fed chair mary daly, she's pretty woke. we're seeing the unrealized loss at that bank and banks nationwide, more than $620 billion. are they on the stick here? >> well, look, i think that the fed's lack of oversight here is quite obvious, but i also think they did something far worse than fail as supervisors, and that is that they failed as the setter of monetary policy. they left rates way too low for way too long, and then they then way too aggressively hiked up. when they break something, they have to to fix it, and that's the problem that we're constantly asking the fed to be in charge of our economy, and it has to stop. the reality is that moody's is behind just like the regulators are. we're going to now look at the credit rating,,s weir going to the now look at what we did wrong at the fed? they're supposed to be in front

of -- to be in front of this stuff. i think ultimately the bonds being underwater to their maturity value is not a problem if you can hold it to maturity. it's a problem when your liquidity is messed up because you have bad deposit base like silicon valley bank did. elizabeth ble -- elizabeth: yeah. so this is an oversight issues -- issue. barney frank is saying you can't blame trump after those revisions to dodd-frank in 2018. democrats were for that. barney frank is saying that does not stop government regulators and fed bank regulators in their obligations to do supervisory oversight. >> the federal government is supposed to be doing this oversight, but the message that banks and the c suites everywhere are getting is focus on climate change, on esg, focus on wokeness. those are only the questions they're getting, that's the push they're getting.

that's, when people toss rocks at them, that's what they're talking about. they didn't the bother to ask them what their investments look like or to focus on that. i mean, we do have an administration that's not focused on growth or jobs or inflation, but on whether or not you're sufficiently woke. and the answer is they got a very good grade from the ratings on being woke and higher sg rating, just not very good ratings on not going bankrupt. elizabeth: yeah. so given what grover is saying, david, i mean, they're throwing all this helicopter money, $20 trillion thrown into the u.s. economy since 2010. the white house has a banking crisis on its hands. the doj, sec joining the federal reserve probing the collapse of svb. insider sales by several bank executives before the a failure, and svb's board is packed with democrat cronies. only one at the upper echelon of investment banking. and now we're going another the a backstop of that bank? now taxpayers could be on the hook for that? >> well, in fairness now, we're

not backstopping the bank. i mean, we really aren't. we are blowing up the equity. it's worth zero, and the unsecured bondholders are getting zero. but they are backstopping uninsured goes depositors -- can. elizabeth: that's where the fees could come many if, right? >> now why wouldn't anyone believe that there's going to be the same backstop for them -- elizabeth: right. >> and the reality is they have to specify, do we want the to have fdic limits or not? if we're not, let's figure out how we're going to the pay for that, but you can't keep going back and forth. elizabeth: but that's a backsto- >> they're doing that to avoid the contagion. elizabeth:9 i understand. but the taxpayer will have to the pay with high higher bank fees, grover. what david is saying, the biden white house without even the approval of congress just effectively deemed taxpayers to be on the hook for insuring all bank who is sits like svb? so that's another standard or that's going to the drop? that means more bank fees that

we'll have to pay for. >> government-enforced, required fees are taxes. the president's saying this isn't taxpayer money. st the disingenuous when you say you must pay a fee, says the government. that's a tax that taxpayers are being hit with it, and i don't understand why the president won't own up to that. elizabeth: got it. grover norquist, david, it's great to see you, gentlemen. thanks for joining us tonight. >> thank you. elizabeth: okay. let's welcome to the show "wall street journal" columnist, former speech writer to george w. bush, he is bill mcgurn, and ej antoni, fellow with the committee to unleash prosperity. bill with, first to you. the federal reserve announced it will probe itself, admitting this was an oversight failure, what happened with silicon valley bank. why didn't it catch it? what was going on here? >> well, if i knew why they didn't catch it, we probably wouldn't have a problem. but i think that speaks to an interesting facet of these

problems. every couple years we have failure of regulation. you know, i'm old enough to remember when the solution was supposed to be cod the-frank, you know -- cod-frank, you know? -- dodd-frank. and every year, every time this happens today come up with a new plan, and then we have problems down the line. but the regulators' credibility is never questioned. we still leave it to them. elizabeth: right, so -- >> it is beyond me how ec fail so often -- how they can fail so often and yet retain their credibility. we know that. but the regulators never seem to have their authority key the marijuanad. elizabeth: so, ej, barney frank says you can't blame trump as the president and democrats are doing. both democrats and the gop said, yeah, make systemically risky banks to the bigger 250 million,

but barney frank tells politico that doesn't absolve them from doing their oversight, from doing their supervise ifly duties, right? all of a sudden just because you raised that limit, that means you can back off and not do their jobsome. >> no, liz, that's a great point. and really i haven't heard a good explanation as to where the regulators were in the case of a bank like svb which had a tremendous amount of interest rate risk not only only the depositor side, but also on the investment side. in other words, where they were getting their money from and where they were putting it. once again, the regulators were asleep at the switch. elizabeth: so they talk about esg, environmental, social governance. bill, where's the governance? where's the oversight part? i mean, you wonder why the san francisco fed and mary daly there did not exercise their oversight responsibilities. they should have seen this coming. you know, instead of doing oversight, the fed's distracted by worrying about board diversity. treasury secretary yellen flying to the ukraine. should they all be hauled before

congress do -- to testify? >> well, they should. we should find out exactly what happened and why. look, i'm opposed to all the esg, it's a distraction. it's hard enough to preserve people's money and make it, and we pile on all these other things. all companies have it now, august regulator -- all regulators are interested. i don't think that caused this problem. it may have contributed, helped them distract from what their real job was. but the real job was safeguarding people's investments which they did a bad job of. elizabeth: so, you know, we've got basically what's happening is this, you know, it's a social justice problem to lose your paycheck, ej. it's a social justice problem if you can't get your deposits. i mean, this is the nuts and bolts of banking. and now we've got still the regionals are still being

basically on tinder hooks even though the push up today in their stocks was because the fed may not, may not raise rates. that's quite a, that's quite a gambit to play that game when there's basically you're seeing people lining up to pull out their deposits, and you could do it9 in a flash over your iphone. you just pull out your money and venmo it to another account. >> oh, absolutely. it certainly is a gamble, and we're gambling right now with the taxpayers' money. one of the really scary things right now, liz, with the fdic stepping in and having to cover all of these uninsured depositors, the fdic keeps its money in medium and long-term u.s. treasuries, the exact same securities which helped cause the collapse of svb in the first place. in other words, we're using devalued securities to cover other devalued securities, and we're basically just going to have to print money to cover all of it. elizabeth: so you're saying basically it's like eating their own tail.

i mean, it's bad paper chasing bad paper. what do you think of that that, bill? because, you know, they're doing all that -- let's show what we found at silicon valley bank's federal filings. there's a lot of democrat cronies on the board with. one person on the board has investment banking experience out of a dozen. there's a lot of woke buzzwords flying through svb's sec filings. what are they doing? the how about just focus on the basic plumbing of the u.s. banking system and their own bank? >> yeah, that's my point. the basic plumbing is hard enough. look, when people put their money in a bank, investments for their retirement the, for the family's needs, that's a sacred trust, you know? you're responsible for the well-being of a lot of people who put their faith in you. and i think we get away from that with all these other interests that have nothing to do with preserving people's faith. you know, one thing that's interesting about this is they

talk about moral hazard. it used to be moral hazard was the government guarantees some, and you know there's a greater risk because the government is garon' thing that that money. guaranteeing that money. but now when they move to cover stuff that wasn't insured, that wasn't ever meant to be covered, the more -- moral hazard is greatly expanded. and it seems we expand it on the spot. elizabeth: yeah, that's it, right. >> and it leads to bigger and bigger interventions. elizabeth: what bill just said, e.j.. i mean, now the white house is insuring uninsured -- a lot of democratic cronies at that bank. that's the moral hazard bill is talking about. that's what taxpayers will have to foot the bill for in higher banking fees, right this? so that is a part of the bailout. >> oh, absolutely. they're either going to have to pay higher banking fees or pay through explicit taxes or

through the hidden tax of inflation. and, you know, by the way, along the lines of this being, you know, related to the cronyism, i have a sneaky suspicion that if this bank were in east palestine the, ohio, we wouldn't be having this conversation because those depositors would not be getting coverage. elizabeth: all right, bill, ej, that was a great conversation. thanks for joining us tonight. it's good to see you both. >> thanks, liz. elizabeth: we've got new demands in the senate for a 9/11-style commission into, to look into china and the pandemic after cbs reports the u.s. was double billed by china for tens of millions of collars in research grants -- dollars in research grants to china's wuhan labs? we've got dr. fauci still denying that. plus, "the new york post"'s jon levine on the breakthrough in the house oversight probe into hunter biden and the biden family. that's next on "the evening edit." ♪ ♪

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elizabeth: okay, news coming in on house oversight's investigation into the biden family deal making overseas, allegations flying that the president encouraged his family to cash in on his government job

and also fears of foreign influence and policy making. we've got fox news' aishah hasnie live on capitol hill with the very latest. st the good to see you. >> reporter: good evening to you, elizabeth. that's right, chairman james comer is revealing today that new documents have revealed that perhaps another member of the biden family might be involved in influence peddling as well. this all comes from a subpoena that he issued a couple weeks ago to bank of america for a whopping 14 years worth of bank records related to hunter biden and his three associates including rob walker, that's a former clinton official. now, comer says walker's account activity revealed that it received a $3 million wire transfer from individuals associated with the chinese communist party just about two months after then-vice president biden left office.

now, comer says that walker account then transferred those funds into the accounts of three different biden family members including someone that they've actually never considered before. >> i'm not going to disclose that new name because that really changes things, because what we assumed was this was just about the president's son and two brothers. but now there's a new name that's emerged. so we've got a problem here with respect to trying to determine what exactly this family was doing to receive these transactions from china. >> reporter: now, we've also, elizabeth, reached out to hunter biden's attorney for a response to this, still waiting for that. meanwhile, house oversight ranking member jamie raskin fighter off a letter to comer blasting him for issuing that subpoena calling it invasive and overbroad. he's also accusing comer of colluding with the former

president, former president trump. comer is rejecting those accusations, so this battle goes on on capitol hill. elizabeth: thank you so much. joining us now, new york post columnist jon levine. jon, your reaction to that, because with here's the story, you know, jon, you've been reporting on this, so has new york post. the biden family uses off-balance sheet shells to cover their tracks. you can't cover where the money flows are going. now comer is going after the family friends, friends of the family, because it looks like they've buried those cash flows through their friends of the family. so that's where it looks like this is a broadening probe. what do you think? >> right. well, i mean, this is a huge win for the american people, that's the first thing aisle i'll say, and that's my first reaction to the news we have here. we know that the bank records, they've been after these bank records since when james comer was in the minority. and they've not been able to to get them. and now bank of america has handed over 14 years. and i'm particularly struck by

jamie raskin, the democratic ranking member of the house oversight committee calling it an inquisition and fighting to keep this information from the american people given how much malfeasance we've already seen on the hard drive. it's a matter of national security that the american people can see what's going on here. elizabeth: you know, it's also this breakthrough as well, the treasury department finally giving house oversight suspicious activity reports filed by banks with the treasury department on the biden family's deal making after stonewalling for months on that. >> right. the treasury county fought for months not to hand them over, they finally handed them over, they're going to allow members of congress to look at hem in camera, so they're not going to be antibiotic to post them -- able to post them online, but hopefully we'll start seeing those kiss the seminated to the american people. -- disseminated. hunter biden and his family had over 150 suspicious activity reports. most americans go their whole lives and don't even generate one, and these are things banks are required to generate by law

to stop human trafficking and terrorism. and hunter biden and his family have 150? this is for, i mean, if you zoom out from the if hard drive, pretend there was no hard drive and you just knew that, that's a major issue for the american people, and we need to know more about it. elizabeth: it's about allegations of corruption swirling around this president. so so james comer also asked treasury to get documents out of the financial crimes enforcement network. that's a separate network. you know, we know these probes into hunter biden started in 2018. we don't know why they've been delayed, but house oversight chair comer is saying this is a probe of joe biden. what was china paying the bidens for? they don't make anything, they don't manufacture anything, they don't sell anything concern. >> no, that's correct. it's all influence, that's what this is about. at the time when hunter biden was making millions of dollars, he was an active drug addict and alcoholic. he was not producing anything ors there was no manufacturing, it is essentially influence. he was selling his access to the biden fallly name, and what did

that -- family name? and what did foreign buyers get for that, is the question with. elizabeth: the word is bribery. there's always speculations ab bribery if it's for influence peddling, and that's wrong. at minimum, they needed to register as foreign agents. at worst, it's allegations of corruption. so they're trying to bury this story so the american people don't see it. they've been hammering trump and his family for doing things like selling their, you know, things about their business oversees -- overseas. but we still don't know how this affected foreign policy and u.s. national security. your final word. >> one of the biggest underlying questions is the extent to which hunter's exposure to china now compromises the president's exposure. and his foreign policy, our response to the chinese spy balloon and many other issues, and and hunter's always lurking in the background and how much debt is owed here and how much money has changed hands. so it's a huge issue for national security that we get to the bottom of, you know, what did the president know and when kid the he know it.

elizabeth: got it. jon levine, thanks for joining us. okay, amid a banking crisis, we're in a banking crisis. you know, the regions -- regionals were upped today on the idea that the fed will not raise interest rates, that will help them, but we've got a banking croix sis. democrat senator elizabeth warren in the middle of all this, she wants biden's student loan bailout that the supreme court may reject anyway. senator mike braun on new demands in the senate for a 9/11-style commission to look at china and the pandemic after cbs reports china overbilled ask double billed the u.s. by tens of millions of collars for research grants -- of dollars for research grants for china's wuhan lab ares despite dr. fauci's denials on all of that. that's on "the evening edit" coming up. clearly, you're a safe driver. you could save hundreds for safe driving with liberty mutual. they customize your car insurance so you only pay for what you need!

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requiring the president to declassify u.s. intelligence, link to the pandemic of china. should there be a 9/11 commission like senator roger marshall calls. the you probably saw cbs reporting to china's wuhan labs double billed the nih and usa out of tens of billions of dollars that they could be millions of taxpayer dollars stolen by china's labs here what do you make of this story? i think center marshals onto something this is her rear at on that unanimous bill release all the information we have that we have been different agencies as classified. that would through the house 41. we passed it two years ago unanimously did it again they never thought that would go back to bite them. they are in a racist until the 22nd i believe it. there will be some action pray that will go to the president's desk, every democrat on it pretty he will either have to sign it, which he better.

he can let it pass into legislation without a signature break don't think there's any way he can veto it. this cap is finally going to be out of the bag and yes then you hear about this it's insult on top of injury, you have double billed by the wuhan lab. liz, there is so much stuff we need to bring to the light where we can see it, who knows what we will find. think the more we get into it we will see how nasty a lot of this stuff wasn't it is about time. elizabeth: what happens if the president vetoes a bill to declassify? what. >> and debbie saying hey we are hiding something 419 in the house, it would be overridden. you would have to override that veto. and i do not think he will do that. do not think you let it pass into legislation without signing it. but they are squirming over there for sure because they have been behind this from the get-go.

and now, finally is going to come to the surface. elizabeth: albi quite a development center would like your reaction to this. we have been reporting that dr. fauci has been denying funding the creation of super viruses and labs, sing the nah does not do that. he's very angry over elon musk and others demanding he be prosecuted for things like perjury. you're going to see that you would he dan cutler the federal or federal and guest best to get her look into china's double billing and the potential theft of u.s. taxpayer funds for china's labs, watch this. >> we have seen elon musk between his pronouns he is the owner of twitter, his pronouns or prosecute fauci. >> to prosecute me for what? what are they talking about? i wish i could figure out what dhec they were talking about. >> you are entirely and completely incorrect that the nih has not ever and does not now fund gain of function

research in the wuhan institute. >> the nih currently funded research there there is gain of function. >> is that likely may contact seller funded to gain a function research that created this virus? >> i think it did not from nih but the state department, usaid. >> what i found so far is evidence that points to double billing potential theft of government funds. it is concerning especially since it involves dangerous pathogens and risky research. elizabeth: your response of that? >> and the floodgates open which they're going to a week to 10 days, i don't care how sanctimonious you are. i am on the committee health, education, labor and pensions were weak links listen to fauci. we asked him questions. on every side of the issue is going to come out, liz and i think is going to be fireworks because there's going to be so much that we find out that was not the case. look at the trillions of dollars

we spent taking his guidance and the administration buying into every bit of it. stay tuned. elizabeth: do you feel like he's hiding something? >> i do. i think whenever you take that attitude that i can't be wrong, there is so much contradictory information. regardless we need to get fully vetted this information needs to come out and let's find out for ourselves and then let him defend himself or. >> got it. senator lester to have you on sir good to see you again. >> we have the story coming up former president trump barnstorming in iowa. he reveals his plan to fix a crisis in u.s. public schools. democrats not liking us for it also senator rick scott on democrat senator elizabeth warren we are in the middle of a banking crisis she's pushing for bidens student loan a bailout that the supreme court may reject is also into talk about the fail out of the crony democrat bank, the silicon valley bank. that's coming up next on the evening at it.

>> i think there's a lot more to come out on the story from california about the regulator, about the connections between gavin newsom the governor and the regulator the connections between the venture capitol between the venture capitol indus bank.d thi ♪ life is for living. let's partner for all of it. i'm so glad we did this. edward jones bring you this she■s a hero moment. new york city. you have to have the skill and the drive to make it here. not all chefs are men. oh, she can't do that. she's a girl. women bring creativity balance into a kitchen. no one should go hungry. it■s a human right to know where your next meal is coming from. we're changing our community one bite at a time, and we're not done yet. if you can see her. you can be her. ♪ well, the stock is bubbling in the pot ♪ ♪ just till they taste what we've got ♪

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elizabeth: okay, we've got the big debate on wall street. with the fed -like rates at the meeting next week? that is wreaking havoc on u.s. banks progressive news come again may be a push for silicon valley bank to file for bankruptcy. kelly o'grady has will reporting going on live in beverly hills. kelly, it's good to see you. >> is great to see you as always. just crossing we are learning that silicon valley bank creditors have formed a group in advance of possible bankruptcy to sell off and tried to get as much money as they can out of this. silicon valley bank story continues. i do want to update you yesterday we talked about the impact of startups.

it especially concerning concerning for the tech industry. that was the star but payment and now these are not sure which banks won't take a chance on them. one told me this concept the innovation economy back decades and unprofitable start up may not look like the best client but they cannot get a loan that could be the difference wind shutting down and staying afloat. zooming out though on the rate hike we sought regional bank spiral yesterday with trading halted at over a dozen. today they have a nice rebound pre-first republic finish the day down 62% yesterday they were up 27% today. now, some animals are protecting the fed may pause rate hikes being the collapse bolsters the argument companies are buckling under the speed of the fed's action. must argue today's rebound shows the turmoil is localized. so rightly hears or rescan the markets pricing at 25 basis point hike at that meeting next week. so liz if that's going to ask itself the question which is more concerning right now inflation or the fear of bank

contagion, back to you for. >> what a spot we are in pain kelly o'grady thanks so much good to see it. what's welcome back from senate budget senator rick scott. senator, it's good to see you again sir thanks for joining us. we are in a banking crisis this is an issue with the fed is doing with rate hikes. senator elizabeth warren writes an op-ed for the "new york times" demanding congress passed bidens student loan bailout. won't that hit u.s. banks they hold that debt? the supreme court may reject it anyway. >> first off and got to step back and say it let's get the facts. let's get the facts before you do anything here. let's stop with what biden does is blame someone else for everything. let's actually get the facts. what i want to make sure as the american consumer does not pay for this. we need to make sure these people they got these bonuses that money comes back. the people that are sold the stock with knowledge of what was going on, any gains they have need to come back. we need to make sure we are not bailing people out. i want to understand why the fed

thanks they can lend that money for assets above but the value is put you and i cannot get a loan like that how is that not going to cost the consumer in this country the taxpayer money. there's a lot to find out before we find out exactly what we should of my legislative standpoint. elizabeth: backstopping uninsured deposits, right? that is going to hit us in higher banking fees if they do that. >> first off it is your responsibility we know the rules of more than two or $50000 in the bank you've got to make sure you check out the bank. you've got to make sure, that is your responsibility to do that. the federal government cannot do what biden wanted to impale everybody in this country out for they want to bail at student loans, the want known to bailout everybody for everything. we know that is not doable with 31 have truly dollars in debt already. i think what we need to do is make sure one, the consumer is not adversely impacted by that's

most important thing to me. let's find out what went wrong. why didn't the federal reserve know it's going on here? why did they deal this issue a year ago? this issue did not just come up yesterday. there's a lot of questions. elizabeth: democrat party frank said you cannot blame trunk on the revisions under dodd frank per elizabeth warren breaking news coming in elizabeth warren 50 democrats want to undo the revisions of 2008 where it said systemically risky banks are two or 50 billion assets not 50 billion. barney frank says that is not the issue. he says oversight. he does in the court happened under trump would have an impact. that it did not absolve them from oversight from supervising and examining banks. that that is the issue. >> think the big thing is just to find out what went wrong first. that's a doing business i'm a business guy for this is a problem, what went wrong? let's make sure it doesn't happen again may be as different

legislation but we do not know until we do the investigation. i don't understand how the federal reserve could not have caught this. this amiss allocation of assets is just unbelievable. we did not know this for. >> it's the butt was daily doing over there? fed is going to probe themselves will watch that as well presenter scott it's great to see again thank you for joining us. >> thanks, nice seeing apricots my hot date coming up plus former schoolteacher leo terrel former president trump and iowa, out with his plan to fix the crisis. u.s. public schools his fight with mike pence is also heating up but let's check in with a very good friend dagen and sean just see what they have coming up, good to see you guys because good to see you. the richest or wealthiest a sliver of this very nascent just got bailed out by big gove government. meantime working men and women still getting crushed by inflation highest interest ra rates. presidential candidate on that

coming up. >> marsha blackburn coming to talk about washing machines and the bailout as well as carol talking about marxist and ap test scores break rex and john carney's, that crushing inflation. and elizabeth warren hates jay powell, who doesn't she hate? >> another great jimmy philia, stay with us. we're the ones getting it done. we're managing type 2 diabetes and heart risk. we're on it with jardiance. join the growing number of people who are on it with the once-daily pill, jardiance. jardiance not only lowers a1c, it goes beyond to reduce the risk of cardiovascular death for adults with type 2 diabetes and known heart disease. and jardiance may help you lose some weight. jardiance may cause serious side effects including ketoacidosis that may be fatal, dehydration, (that can lead to sudden worsening of kidney function), and genital yeast or urinary tract infections.

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elizabeth: lucas your former schoolteacher he is an attorney he is leo terrell. leo, pleasure to have you on sir. so former president trump, mike pence a saying he's held accountable. history hold him accountable for the capitol rights. trumpets voting generally six on pence, we want you to please react to president trump talk about fixing public schools as a barnstormers in iowa, watch t this. >> that will bring back parental rights in our school system. >> parents with rights for. >> school today is insane. our country's gone crazy with this nonsense. school choice is where it is o out. as president i will fight to expand that right to every single state in america. elizabeth: what he say, leo? >> sa bravo president trump red list, let's look what happened

to virginia by the parents in virginia were upset because critical race theory. how the schools were hijacked by the union and the far left. what president trump a sink let's go back to the basics, reading, writing, arithmetic. critical race theory is false it is a lie. divides kids and based upon race. transgender sports taken with the rights of women to play sports. what president trump is basically saying is let's go back to the basics. let's not use public schools as laboratories to have it bad children hate america. >> is also single break up the education department and put those functions back inside the states. >> i think it's a brilliant idea. first of all schools are local responsibility. what president trump is saying, i want to offer some federal funding some carrots to basically support universal school choice. to support the elimination of tenure and to basically allow parents to select principles.

everyone knows the teachers union is basically in charge of public schools. what president trump is trying to do is restore that back to the parents. i was a schoolteacher but i understand the importance of a local and local control by the parents and not the teachers unions. sweet sick at a sad things public schools are needed for the poor and for minority students. for destroying going on in public schools. limit control over what state and local districts do what they decide. that's him a big fight too, right leo? >> your absolute right that's why president trump can't basically entice local schools to adopt his program with federal funding for it let me say this, liz, i am a product of public school. i went to high school, public school, junior high school, is a

product of public education. i tell you right now i need to restore the basics of reading, writing, arithmetic. elizabeth: right leo terrell pleasure to have you on, come back soon we love having on the show. >> thank you for having a. elizabeth: it tight state to my hot take is coming up.

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liz: welcome back. here is my hot take. democrats and the government they talk a lot about woke esg

investing, environmental social justice governance push. how about focusing on just the go. in that governance? how about oversight? now the federal reserve will probe itself why it missed the collapse of silicon valley bank. silicon valley board had one director from banking. where was san fran fed president mary daly on that? isn't it social justice problem to lose deposits and paycheck? why did biden white house give rich silicon valley banks get a backstop? we don't get that email us. we love reading emails. from marshall in virginia, elizabeth my mother is 102 years old, 102 1/2. fox news kept her alive for at least the last five years. she loves your show because you present the facts more than opinion. she watches fox all day. please keep it up. mom will make it to 103 we want

mom to make it to 120. send thoughts to emacviewers@fox.com. we may feature you on the next show. tomorrow we have senator roger marshall, congressman french hill and we got byron york. we'll stay on inequity and unfairness of the biden backstop to the silicon valley bank. you do not get a backstop on your uninsured deposits but silicon valley bank did and they are very rich silicon valley democrat cronies who were investing with that bank. we'll stay on that story for you. i'm liz macdonald. you're watching "evening edit" on fox business. that does it for us, it is time for "the bottom line" with dagen and sean. hi, you guys. good to see you. dagen: sitting here, nodding my head, going uh-huh. liz: that's right. ♪