stuart: all right, sports fans. how many amendments does the constitution have? 24, 27, 30, 33? ashley your first? ashley: my trusty producer says it's 27, so i'm blaming him if it's wrong. stuart: susan? >> 30. stuart: lauren? lauren: 27. stuart: my instinct is 27 as well and i did not look it up but i think the answer is 27. yes, the amendment was ratified in 1992 stops members from congress from giving themselves pay raises how about that? times up. "coast to coast" is now. ♪ baby i don't need dollar bills ♪ neil: all right, fox on top of stumbling banks, although they aren't stumbling as much. more in a second, but something that is getting worse, the jobs part. all leading to slipping stocks though, i've gotta tell you, as well, they have slipped a lot more. we've got you covered right now,

with the former home depot ceo, and chrysler ceo bob nardelli, former senator vice presidential candidate joe lieberman, welcome , i'm neil cavuto. let's get into the phenomenon building at the corner of wall and broad. we are still off but it all started with deutsche bank, the bigger man bank, rumored to be in some duress, some pressure , some trouble. that stock had tumbled about 22% i believe at its worst levels. we're off those worst levels right now. deutsche bank sending a signal, you know, it's not the end of the world. we're not in deep, deep doo-doo here although i don't know what the german be for deep deep doo-doo, but anyway, coming off those lows. what to make of it with mark tepper kind enough to join us. actually, mark, the first question i had on that was whether banks themselves are still under duress. i mean, the comeback from the lows today doesn't mean they still have problems today. what do you think? >> yeah, so look.

with regards to what's happening , i think the contagion effect is probably limited and when you look at, you know, credit suisse and deutsche bank in particular, i mean, those two banks have been the black eyes of the european banking system for like 15 years now. i mean, they are always on the ropes. they are always on life support, but my take is that it seems like the issue at deutsche bank and what we saw at credit suisse , they're very different issues than what we're experiencing here in the u.s.. those balance sheets for credit suisse and deutsche bank were still banged up from 2008. we did a much better job recessitating our banks in the u.s. since the great recession, but you know, when it comes to our banks here, i think the contagion is limited but, neil, i've gotta tell you. i think the next shoe to drop unfortunately for these regional banks is going to be commercial real estate. neil: hmmm. you know, you just opened up a real big wound there that i didn't want to explore with you but i've been watching where a

lot of this money, even on the part of investors at these various banks are going. there's a rush in the money-market funds like we've never seen. what do you make of that? >> i think investors want to know they have as much liquidity as possible, and maybe they aren't as confident in the banking system. i think it shows that investors overall, consumers overall are reassessing how bad these risks are. how stable our financial system is, and when you look at the comments that we've been hearing , jay powell on wednesday , as an example. he raises rates by 25 basis points and then, he said he still sees a path for a soft landing. soft landing? whose going to tell him that we've already seen bank failures here in the u.s.. so look. investors and consumers, we're a bit uptight and scared. we saw how this played out in 2008 and it was painful.

it was incredibly painful. now, we eventually dug ourselves out of it, but you know, a lot of people weren't sure that we were going to dig ourselves out of it so look investors are concerned right now. neil: yeah, you're right about the concern part, but as far as revisit what we had or the meltdown i'm not so sure, because a lot of what we see going on, mark, is reflected in a flight-to-quality for example, in the bond market. the 10-year, you know, has tumbled if you take just the overall yield here. we can show that right now, and it is maybe providing and doing some of the feds job for it, but look at that. a 10-year now at 3.38%. two weeks ago that was well-over 4%. what do you make of that? >> yeah, and we were actually buying three-month and six-month treasuries, over 5% a few weeks ago, so you know, there has been a rush of liquidity in the bonds

one of the things you mentioned is that i think you said the treasuries might be doing the work for the fed and i think you hit the nail on the head there, neil. this whole banking fiasco has tightened financial conditions enough that it is. it's doing a lot of the heavy lifting for the fed, and if we actually, even pre-banking crisis. if you look at the senior loan officer surveys, i don't care if you're looking at the consumer side or the business side, they've been tightening now for months, so you know, banks were already less willing to lend and now what you're seeing is it's, you know, things are getting exacerbated. neil: yeah, we'll have to watch it closely. mark i always learn a lot talking to you but i always get a lot of mail on you mark. a lot of people who say that guy is one snappy dresser, and i always am waiting for them to say something like that about me , and it never comes up. it never comes up but mark, you are a snappy dresser and fine financial mind. i appreciate both.

>> i'll introduce you to my taylor. neil: well he's going to need a little bit more material, young man. well i want to go to edward lawrence. he's at the white house right now, because the president is going to be pretty busy in the next few weeks. i think in the next few weeks, sort of, you know, making his case. the economies in great shape and getting even better. fill us in, edward. reporter: neil i do like your tie, a lot. i need to figure out where you got that. neil: thank you very much my friend, and you look delicious yourself. reporter: [laughter] the president is in canada right now, but when he does get back to the united states, he's going to go on a tour, for his economic message. the president is going to highlight his $5.8 trillion in spending that he assigned over the past two years, a big part of that, the bipartisan infrastructure bill and yesterday, the transportation secretary has been saying that they will make the most out of their funding. listen to this. >> you have my commitment that our department will continue whether it's raise the bridge

program or others to make the absolute most of the funding that we have by way of that advanced appropriation and continue the dialogue about how to make sure that needs are met, balanced of course with the fiscal responsibility concerns that you all must balance in your appropriating role. reporter: so, the president going to north carolina next tuesday to start his investing in america tour. he and other members of his inner circle planning on visit ing these states here and many of them battleground states for a presidential campaign. during the visits the president will highlight projects like electric vehicle manufacturing facilities, he'll push semiconductor projects paid for through the chips act. also manufacturing which he says will come from american rescue plan spending. a former white house economic advisor says the spending is the problem. >> and joe biden's budget calls for even more. you know he's actually got a couple of years spending in that year higher than it was during the pandemic when we were doing all of those bailouts of the pp p and stuff so the democrats are absolutely

addicted to inflationary spending. reporter: and now, the federal reserve is saying that that inflation one get back to the 2% target until after 2025. neil? neil: all right, edward. thank you for that. edward lawrence at the white house. want to go to bob nardelli, what he makes of all of this , because the reason why i'm looking forward to seeing bob is we're also getting news to what a lot of companies amount to layoffs between walmart and accenture, you know, we've got about 23,000 jobs that are going away and when you add in indeed and a couple of other fortune 500 companies that the have announced over the last week about 22000 layoffs, it's piling up. bob, in case you didn't know, of course you do know the former home depot ceo, former chrysler ceo kind enough to be with us. bob, you know, that's a lot of layoffs. they aren't slowing down. they are actually accelerating. what do you think? >> yeah, well first of all it's great to be with you, and such a

snappy dresser, neil. let me just add to that comment. neil: [laughter] all right you're coming back my friends, you're coming back. go ahead. >> this reminds me a lot of my time when i was in detroit at chrysler 2007, 2008 and 2009 and we started to see the banks collapse. the difference is these are the smaller banks, not the larger banks and to your earlier comment i think everybody's flight-to-safety number one. number two, on the layoffs. these are significant from the standpoint of it's not only a labor lay off with walmart. they're actually closing the stores, which has a real fin ality to it that they aren't coming back for sometime when you do that, that's my experience when i was running home depot. when you talk about accenture laying people off, the concern for me says businesses are pulling back significantly and they aren't reaching out to accenture to do strategic thinking, m & a, et cetera. again some permanency to that decision. if you talk about salesforce

laying people off. disney has laid people off. general motors is doing a buyout program. so this thing has an acceleration to it. i remember when i was on with you about a year ago when yellen said inflation was transitory. we both kind of laughed. it's tt -to-safety to go to the larger banks is what i'm hearing and seeing today as ideal with -- neil: doesn't that worry you that part of it, bob? sorry to sump on you because i've heard the same thing that a lot of people at regional banks doing just fine given the experience of silicon valley bank and signature first republic, they are saying, you know, bolt now, ask questions

later, and that is compounding the problem for otherwise healthy mid-size banks. i mean, i wouldn't call it a positive run, nothing like that but there has been a run to bigger banks that could accelerate and cause a lot of problems, couldn't it? >> yes, sir. it's again, they may offer a slight advantage to bank locally , but when it comes between a rate and security or liquidity, you're going to jump to safety, neil. i see that all the time. i was with a private equity group dealing with them, and unfortunately, they had all of their fund money at silicon valley bank, and so there was a lot of anxiety over the weekend. they had large distributions ready to be distributed. now it all worked itself out, but nobody wants to go through that anxiety whether you're an individual depositor like myself, or whether you're a large corporation, so i think we have to be very watchful here to see what's happening, and i think while the fed debts a lot of bad rap with paul, i mean, every issue is a nail.

he's the hammer but we're the nails that are getting pound ed here. i think there's earlier on your program this week, there was some suggestions about they should all resign. that's not going to happen. the one thing that could help inflation more than anything is the president reverse the decision he made on inaugural day as it relates to energy, neil. if i went through the steps, there's seven or eight steps where there's a surcharge for fuel from producing fertilizer to getting it to the field to applying it to where the hatcheries are with the chickens and the eggs there's seven steps where surcharges are added for fuel. that's why you're paying $13 a dozen for eggs. it's a simple solution. reverse the decision you made relative to your energy policy. neil: well, just don't hold your breath for that, but could i ask you a quick question and this harkens back to your days of running chrysler. we're told ford looks like it'll have a $3 billion loss as a

result of its ev commitment but of course, this electric vehicle push goes on and on but the cost of vehicles themselves are still ridiculously high, whether they are ev or traditional gas-power ed vehicles and it's happening at a time when at least the major automakers have cars available for purchase. of course during covid and right afterwards that was next to impossible to find, but their situation has gotten worse, i would think. what do you think of the automakers and their position right now? >> yeah. well, you made a couple of points there, neil. number one, my good friend jim farley, the ceo at ford. i was with him just a few weeks ago in detroit and in this whole shift to ev is going to happen but we're forcing an invention prior to its time. you saw where there's now concern or there's not enough chargers so we're having to convert chargers so i think ev will happen but there's for some

reason, there's this carbon abatement thing is accelerating the change with which you're trying to take place, and these incentives are a very narrow part of the population that will qualify for point number one. point number two. there is still limited supply of some of these new products that are coming out today, so they, in fact, are the dealers are in fact selling those above sticker price. five or $10,000 because there's still a shortage on supply chain its gotten better, but it's not back to where it used to be, and so we still have that challenge and i think you're going to see that for a while, neil. you'll see these inflated car prices particularly as volume comes down. remember, back then, we were 17.6 million units a year. it dropped to 9.6 in 2008 and so we're now struggling with that volume and demand. i think it's a case where, you know, we see the fed. the balance sheet is going the wrong-way, neil, right? it was supposed to be coming down. now it's going back up, and so we just have to, it's soaring

and the interest rates alone are going to cripple and they are just going to keep printing money. so we're in a real paradox here where we have to conserve and pullback on some of this spending and turn the tide of some of this inflation that's labor, et cetera. we have to really address this. it's a simple solution if we just had the willpower to do it, neil. neil: yeah, on both sides have to give up their treasures. we'll watch it, bob thank you always good seeing you have a good weekend bob nardelli on that. by the way we have gotten a response to these tiktok hear ings coming on yesterday with the tiktok ceo. it's just, you know, he was like china's foreign ministry came out saying the u.s. is suppress ing a popular app. that's what this is all about. suppressing a popular app, to which a lot of politicians on both sides of the aisle here are saying yeah, that's exactly what we're trying to do, after this. ♪

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are forming out of this dust and gas. neil: you know, this woman is incredible. she's on tiktok, talks about space, and all of that stuff. she has quite the audience, and obviously, if we force tiktok to shutdown that audience or at least that opportunity, and that group is gone, and now she could have other choices, but what does alexander dutton do now? she's a tiktok influencer, what they call them, probably an understatement, quite popular on that site. alexander, good to have you. could i ask you a little bit about where you would go if tiktok was forced to go? >> yeah, absolutely. i think that a common argument right now is that if tiktok was banned that these content creators and this community on tiktok could simply move to another app and that's not true. the algorithm on other apps works differently. it doesn't foster the same type of community, and it doesn't have the same type of power. i'm very privileged in that i

have experience working in the space industry. that's where my background is, so i do think that i would have the opportunity to find another job there, but i can't say the same for the thousands of small business owners that are on tiktok that would lose nearly all of their livelihood. neil: you know, you get into an area that we don't appreciate in the debate on this. the politics notwithstanding and the rivalries between china and ourselves, but what tiktok affords you, and the way it's structured, that reaches a bigger audience, all of this is way over my head, so maybe you can help me with that part. why and how does this benefit you in a way that let's say other social media app sites do not. >> absolutely. the way tiktok works is that it pushes your content out to new audiences, so the majority of the views on my video aren't from the 2 million people that follow me, but it's actually to new people which is really beneficial in what i do which is

educational content, because people are exposed to astronomy, people who aren't actively seeking it out and that's incredibly valuable and other platforms don't offer that same type of algorithm. neil: so the benefit of tiktok and finding you, for example, on tiktok versus let's say if you were on facebook. i'm probably showing my age, so i apologize, but what is the difference? >> i think the major difference is the community aspect of tiktok, because it's pushing you out to new audiences, these aren't the people that already follow you, so on the meta platforms like facebook and instagram, it's much harder to be discovered, and in being discovered on tiktok, you're taking people from all walks of life which is creating really diverse and powerful communities , and i think that community is something that everybody on tiktok is really rallying behind. neil: so alexandra, you're well known, an influencer for a

reason, so i'm thinking the worst case scenario for you. tiktok is shutdown or next to impossible for anyone in this country to use it or download it, and that's not a given by the way. i think that's easier said than done. then the issue becomes, well, because you're so well-known, because you're an influencer, they are going to find you, wherever you setup shop elsewhere. >> i think that's an interesting argument. the difference is i've been post ing not only the exact same content that i've been posting on tiktok on other platforms like instagram and youtube. i've actually been posting move on instagram and youtube and the following is just not comparable. it's the exact same content and more content. neil: really? >> but 90% of my audience is on tiktok. neil: is it the algorithms? is it just the way tiktok is setup? is it the audience that's a very young audience or certainly

younger than some of these other s. what is it? >> well, it's interesting. my particular audience is not that young. the majority of my audiences probably 25-35 but i think what's special about tiktok -- neil: alexandra, that's young. still pretty young. >> yes of course i just meant my following isn't primarily teenagers, but -- neil: i've gotcha. >> yes, but i do think that the difference is what i mentioned earlier which is the community aspect of tiktok. i mean, all of these people rally behind me and they are coming to my page, because they want the educational content, and the way other platforms are setup, it doesn't foster the same type of community. neil: that's fascinating. i didn't know that. i think it's something we're not quite grasping. a real pleasure talking to you and by the way, with your customer base, some of them are younger than a lot of ties i own , so that's a whole separate

issue we could discuss later but very good having you on. >> thank you. neil: all right in the meantime we're following what is still unrest going on in paris. this whole new law that changes the retirement age that'll go into effect boosted up to 64 from 62. it is not going down well. these protests are not ending. they are accelerating. there's a poll this weekend for millions all over the country to make their views known. nothing is getting done. no work, no events, no soccer events, because they can't find the people to officiate at the games, and now, no king charles. he has canceled a visit to france. they're not protesting over that we'll have more after this. ♪

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neil: all right, it got pretty scary last night in paris, the protests continue now in these new laws in effect to try to shrink the size of the way they were going with their entitlement programs if you will , various pensions, all over the country that eat up about 14 % of government spending in france, double for example, what they are spending in germany for example. even what we spend here in the united states. it got pretty scary, and it has already prompted king charles to cancel a visit there. we have more on all of this , with jonathan, the royal expert, a lot of things, but you know, jonathan, this visit and canceling it comes as no surprise, but i think that this is going to keep playing out. there's going to be a reluctance on the part of people to vacation in france, maybe a lot of londoners like to go to

france. this is spilling over. what do you think? >> well this is king charles first visit abroad since he became king and he was going to france. that was carefully chosen. its been canceled as a result of those myocarditis tests and the unrest there and now his first trip is to germany which he was going to do immediately after france and be there from sunday to wednesday and i think that unrest there and the cancellation of this royal trip is really the least of their worries. i think it's symptomatic of what's going on in france. just a sense that emmanuel macron has lost grip of how things are going, we're on to seven or more consecutive days of the protests and walk-outs. we've had nine or 10 days now of the street riots going on as well. there's trash piled high on the pavements. all of this because he pushed through this change of retirement age from 62 to 64 and did so by bypassing the parliamentary vote all because he thought he might not win the vote. it's difficult and this isn't the first time he's tried to fix france's complicated pension system either as you alluded to

in his first, he abandoned bigger effort to do so after protests on the streets back then, and that was before covid. this time, he isn't trying to merge the countries 42 separate pension schemes but he is shift ing the retirement age to get people to work for an extra two years, and i think the unrest that's ensued is just showing that despite what he thought, he's not in control as he would like to be. neil: if the same thing were tried in britain, i understand, jonathan, that that france's entitlement-related cost for oversimplification are much higher than any of the other western european nations, significantly even higher, as a percentage then in our country where we have lots of problems in england, how are they? >> well, here, it's a very different system. i think that that's one of the things that's been a problem for macron is this is an ongoing problem for france, something he thought he could fix and the fact that now he's not necessarily looking for re-election means that perhaps he believes he could

take tougher decisions, but that speech that he gave a few days ago on tv, this week, and it really was very determined. he wasn't going to back down. i think that if you were to compare it to the uk, maybe could almost be his liz truss moment. remember we had the prime minister who lasted very brief amount of time. neil: oh, sure. >> because she tried to make such big changes in such a short time. not to pensions but it spooked the markets and macron again may find that this spooked the markets, this could have a negative effect financially. probably the opposite of what he thought would happen but with the walk-outs and problems and the disruption it seems maybe it was a step too far, but he's refusing to back down. in fact, he talked about not allowing the same level of unrest to happen as the storming of the capitol in the u.s. , leading to that and i think this sort of thing really annoyed people in france. its annoyed workers. there's now this call for the national strikes. there's going to be more problems i think going ahead for

him. neil: we will watch it closely, jonathan, thank you for explaining all of that. we'll see what happens next, because again, it is not easing in paris. in the meantime here, a move for workers to get a break when it comes to the time off that they want, for almost any reason paid leave, for any reason. i think that is the gist of it. it's in illinois. lauren simonetti has been following this very very closely explain what's going on here? lauren: one-size-fits-all approach in the state of illinois. that's starting in january. any company is required to give their workers 40 hours off per- year, no questions asked but neil, paid free time? it's wildly popular. >> if you got like an extra from work, what would you do? >> sleep preferably. it be amazing, as a mom of two and both working.

>> with the time at work we would both take off or schedule one week i'm on next week she's off. lauren: it is rare to require a paid vacation in the u.s. and just maine and nevada have similar laws as illinois will in january. 14 states and washington d.c. require paid sick leave. all in all, some experts say that it's not enough and what illinois is doing is enabling a cultural shift in how we approach work. >> i think it's a game changer for working moms and when 40% of working parents are moms, single moms who are the bread winners they need these types of policies and so we also know that one out of four parents were fired because of child care disruptions. lauren: critics worry the law will slam small businesses already struggling with high prices and worker shortages. >> all companies, its got to be a case-by-case basis. >> i don't see a problem. >> would you see a problem for

your company? a small business? >> yeah, that case, i don't like that idea. lauren: and that's the game changer, neil. most americans work for small companies, and this is a big expense for the small companies, so it's a great idea. it gets us talking about maybe some changes in flexibility as it needs to happen in the workplace but mandating it for almost every company with few exceptions might be a bit too far for some. neil: yeah, i would imagine more than just a bit. lauren, thank you for that. lauren simonetti, we'll keep an eye on that. also keeping an eye on the fall out if this were to go national. buddy carter sarkar with us again always love having buddy on, house budget committee. congressman, i did want to talk to you about tiktok but i did want to get your take on what's happening in illinois where they can consider paid leave for almost any reason. that's a pretty big bill. >> it is a very big bill. you know, i owned a business for 32 years and i can tell you had that been the case when i was in business i don't know how

i would have done it. when you're a small business owner you have to be lien and mean. you can't afford any excess and that includes with employees and especially when you're in a service-oriented business like i was, i'm an independent retail pharmacy i had to have people there in order to open the doors and i just cannot imagine. i can not imagine this ever working for a small business. neil: you know, i'm wondering what you made, i was eager for you to weigh in on the whole tiktok and you've heard the arguments from the ceo. we don't spy on people. we don't have these little algorithms that are tracking you every step of the way, but i know that even american companies and social media concerns have such technology. it isn't out of the realm of possibility that china has that on steroids given the past, so it is out there. now the question becomes what do we do about it? have we seemed to look the other way when it's u.s. social media

concerns doing that, tracking you, and getting a sense of where you go online. very different when it's a country like china, so where do you see this going? >> well, where i hope it goes is that i hope we ban tiktok, as it is now. now that's important. now, if the chinese communist party were to divest their self of all interest in the parent company of tiktok, then perhaps they could continue on, but until that happens, we should not have tiktok in the united states of america, and it's important to note that two-thirds of all of our youth are on tiktok and that they spend on average of 95 minutes a day on tiktok. this is psychological warfare being leveled against our young people by the chinese communist party. remember, i'm talking about the chinese communist party. i'm not talking about the chinese people. that's extremely important because we have to realize in this country that the chinese communist party is not our friend. they are not our adversary.

they are our enemy. they want to overtake us economically. they want to overtake us militarily and we have to realize that. neil: all right, we'll see what goes on here sorry for the brief time. there are a lot of breaking news we are going to follow just the latest sell-off going at the corner of wall and broad. it had been a lot worse, was a lot worse. the big catalyst for the big selling at least this morning out of the gate was news out of europe that deutsche bank is in a world of hurt. deutsche bank immediately put out a statement more or less to say we are not in a world of hurt. we're getting caught up in the same thing it seems everyone else is, i'm paraphrasing, enough to say though that they thought it was overdone. the market for now seems to agree. we'll have more after this. ♪

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neil: all right, in the middle, i want you to take a peak at a 10-year note. this is one of these incredible developments in the market free fall where a lot of people concerned about bank safety, parking their money in treasury notes and bonds is a kin to putting money underneath the mattress. when you're nervous you look for protecting what you have and that yield at 3.37% a couple weeks ago was well over 4%. again on the notion this bank whatever you want to call it is going to slow the economy down, maybe in the global economy down , because this is playing out across the globe. time for one of my favorite guests to weigh in here, peter tuckman. that man has been to hell and back and he is in destructible and i'm so glad he is. peter? what do you make of this , and particularly, what's been happening maybe with the drop in market interest rates. it's sort of like the bond market is helping out the federal reserve here. what do you think?

>> you know what? look. i think that we obviously, the jay powell statement on wednesday inferred that we were going to slow this thing down only one more interest rate raise coming into the end of the year. i'm not sure what he had on the table for 2024, but i think that we have not seen the end of the contagion. i think if anybody thought that was the case, obviously, the fears around deutsche bank today, this morning sort of send those to the showers in so many ways. i think we're seeing, look, we saw a lot of hedge funds had huge exposure to the credit suisse story, and i think we're seeing way the banks are acting here, obviously, first republic still under a lot of pressure, trading 12, 13, $14 so i think the pressure is there. i think we're going to start to look under the hood at where a lot of these banks have their money and i think the global story makes it also all the more skiddish. i think the markets okay right here on a friday. i mean, we were down earlier this morning, obviously over the deutsche bank news. we've rallied back but you know, it's not where the market opens. it's where the market ends for

the weekend, but i still think that there's a lot of possible contagion across the economies and across the markets and across the banks, and i think as this story unfolds, i think we're going to see what effect it will have on companies maybe m & a aren't going to be likely to go to the banks. you borrow money and leverage as they were before, so i don't think this story is, i think we're in the beginning stages of a longer story. i think there's a lot more that we don't know than we do know about the potential of this story. neil: so it be maybe a slower kind of a phenomenon or unraveling, i don't want to use that word, than certainly we saw 15 years ago. that quickly became a meltdown as fears compounded and all of a sudden, there was the lehman moment and other moments and a freefall. do you anticipate anything like that? >> you know what? it doesn't feel like that.

i think the components that made up that crisis were way more contagious in so many ways, right? we know the components that made up that story. we were putting bad debt in boxes, and selling it down the road, and so that that contagion was way more pervasive throughout the globe, but right now, i still think this story is unfolding. look it hasn't blown up in a big way. obviously we've seen those four banks fail. we did see the fed step in, even though it was kind of a mixed message between what janet yellen said and jay powell said, but at the end of the day we bank stopped the depositors we obviously are not saving the shareholders in those companies. deutsche bank story today sort of makes us think that maybe there is more story. i think we need to examine a lot more of what the contagious part of the credit suisse story is, because look. they had to get $100 billion from the swiss government before they were willing to do that take under, so that gave me the

feeling that there's a lot more to that story, and how much sort of backflow will that be to the united states companies? and then it's even, there are also and how that will affect look, once you are talking about banking and confidence it's going to effect everything going forward. the first bank that fell was the svb. it was all about start-ups so is it going to effect how companies are going to do whether it's mergers and acquisitions or start-ups or the sort of the nuke and crannies of our economy. is the consumer going to be scared? okay i hear you. is the consumer going to be scared, are companies less likely to do growth stories? i mean i don't think, i think there's more we don't know still yet to come, neil. neil: peter you know what? you see things that so many others miss and your incites are the ones i copy without ever attributing to you. i just want to get that off my chest but peter great seeing you again. keep up the fight. >> i love you. i appreciate it. neil: he is one of the giants in this business. i'm not kidding you.

that man has been through a hell of a lot and never complains. i live to complain. another guy that never complains brian brenberg. why should he? he has a great show, two great co-anchors and a lot of big money at stake. brian: amen to all that, neil. president biden expected to announce a new immigration deal, but for the northern border. we'll speak to florida senator rick scott, plus, larry kudlow and pete hegseth all at the top of the hour. more "coast to coast", after this. ♪ you'll always remember buying your first car. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. at t. rowe price, our strategic investing approach can help you build the future you imagine. (man) what if my type 2 diabetes takes over?

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neil: all right, market coming off its lows in fact now we're up at least when it comes to the dow, so maybe something peter tu chman said we won't re visit the financial met down of 2008-2009 might have had something to do with that or just the idea a lot of these banks have been battered anyway, deutsche in particular going into this morning. that come back was warranted but i do want to pursue this with the former senator, former vice presidential candidate joe lieberman, what he makes of this concern about the banking industry, and whether it's on a solid footing.

senator, always great having you what do you think of that and where we go here? peter tuchman, an iconic wall street had been there for many decades says this does have a feeling that it's not going away anytime soon. does it worry you? >> thanks, neil. good to be with you. well, it sure does worry me. i think it worries a lot of people other but i will tell you from my perspective, it doesn't feel like 2008. i think that we put a lot in place since then to stop it from really collapsing our economy and the world economy, so i think we're on very unsettled waters economically and it's creating a lot of anxiety among the american people, obviously, and unfortunately, that will affect their economic decisions, but the federal government is responding and the private sector is responding to sort of

protect the banks in trouble and therefore protect the rest of the economy, so i think we're going to pull out of this , without the damage that occurred in 2008. neil: well, i certainly hope you're right on that. i do worry though when i hear janet yellen, the treasury secretary, and no offense to her she did give mixed signals as to how far she would go to support depositors beyond what we've seen in some of these other banks, where they were limitless , in other words the fdic ceiling that used to be $250,000 for individuals, half a million bucks for couples , be infinite. now, i understand what she's trying to say here, that this isn't for everybody, but the fact that she hasn't said it won't be for everybody, that's added to the confusion. do you think we should have limitless coverage? >> so i agree with your point

and your concern, neil. obviously, at some point, you can't have limitless coverage for depositors. it just costs too much money, but that's something to take up on another day as a matter of long term policy. right now, the depositors which are not just individuals, but businesses, and the economy needs reassurance, and that's what i'd like to hear totally from secretary yellen and anybody else in the government that has the power to get us out of this anxiety and insecurity and moving up and down the economy and get us back on a road to growth. neil: right. all right, we'll watch closely, sorry for the limited time but always good seeing you, joe lieberman. we'll have a little more after this the dow up about 10.

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