will: you got one. hey, the american rodeo right here in arlington. go get your tickets still, 40,000 seats. thanks to riley webb. i'm glad you guys got one. pete: we're all wearing your hats from your office. thank you very much, will. will: oh, you are? [laughter] pete: you know we are. have a great saturday, everybody. ♪ [background sounds] neil: read it and weep. stocks swoon as the 16th largest bank in the united states collapses after a run on deposits. silicon valley bank is now essentially being run by the federal deposit insurance corporation. that fast, that startling, and for nervous wall street with fearing other financial shoes to crop, that sweeping. to drop. the markets finishing their worst week of the year. regulators going out of their way to say this is not another financial if meltdown in the

making, but silicon valley's implosion is the biggest such failure since the collapse of our entire financial system 15 is years ago.o down next, and we've got you covered in los angeles with kelly o'grady on how all of this happened, at the white house with lucas tomlinson on what they hop next, in washington with former fdic chair sheila bair on why this won't be another financial meltdown, she hopes. and in florida with home depot cofounder bernie marcus who says that doesn't mean this still won't be a big confidence meltdown no matter what happens next. all that and nikki haley on cracking down at the border by sending u.s. troops to the border and a portland, oregon, businessman who was trying to make a living amidst a crime wave that is soaring, and city officials all but ignoring. busy show, busy weekend, and it all starts right now. welcome, everybody. i'm neil cavuto. very good to have you. now to the our biggest story, that bank collapse and what it

could portend for the future. let's go to los angeles and find kelly o'grady. >> reporter: yes, the bank haven for start-ups is no more, the second biggest bank collapse in u.s. history. let's recap what started it all. svb's spiral began wednesday, its start-up clients had been withdrawing more cash than usual amidst the fed raising rates and a chilly fund raising environment. the tech community got jumpy, the stock was in freefall, and investor warned it might be in real trouble. that caused a bank run. in other words, a ton of clients simultaneously tried to withdraw funds. by thursday's end, customers had pulled out $42 billion of deposits leaving a negative cash balance of $958 million. california regulators deemed svb incapable of operating and shut it down. the fkic -- fdic assured goes depositors they will redeem

access on monday, but 94% of depositses were uninsured as of december, so there's major uncertainty as to how much folks get -- [audio difficulty] >> complete shock. svb is a really great bank. did not expect this to happen at all. i'm hoping that the deposits are returned. neil: all right. she was intimating there, it's still early, we just don't know exactly the ramifications of this this. we do the know this much, they're watching it very closely in washington, particularly at the white house where we find our lucas tomlinson. what's latest from there? >> reporter: neil, we can pick up where kelly left off. one of your guests jest, congressman jason smith, the economy is not in good shape, and president biden's policies are not working. >> well, the very last time we've seen a bank of this this magnitude fail was in 2008. and that could be a true

indication of where our economy is at. we haven't seen interest rates rise this fast in 40 years. in fact, they rose more than the last 15 years combined. >> reporter: so, neil, this could be a one-off for a small bank or a preview of what's to come with the fed signaling more aggressive rate hikes will continue. this bank had been a go-to for start-ups over the last 40 years, but rising interest rates and rising costs due to continued high inflation are are leading many to take their money out to pay down expenses. the problem, of course, when too many clients do this, withdraw cash at once which in this case forced the bank to sell bonds at a huge loss. and since the federal reserve is hiking rate, bond rates are getting creamed. this bank had less cash to pay out to its clients. the fear is this could happen to other banks. before the collapse of silicon valley bank, top executives sold shares in the company worth millions of dollars. here at the white house yesterday a senior economic adviser to president biden

attempted to calm the public. >> so we know that we had to build more resilience into our banking system which allows it to withstand these kinds of shocks. so i cohave faith that we have the tools -- i do have faith that we have the tools for this sector and for our regulators to be able to -- >> reporter: just a few days ago silicon valley bank had a moody's credit rating of a. neil? neil: you know, or lucas, i know depositors are protected up to $5 the 0,000 by the ndic. i get that -- up up to $250,000. but there are a lot of institutions and funds that had millions there. will they be protected? >> reporter: that's one of the big questions, neil. there's echoes of too big to fail here at the white house, we're hearing it from a lot of people saying you cannot leapt this bank collapse and people be absolutely hung out to dry. neil: we'll watch it closely. lucas, thank you for that, lucas tomlinson at the white house. if we get any more from there, we'll, of course, keep you

posted. a lot of people saying not so fast including the former chair of the fdic, sheila bair, who i caught up with yesterday on fox business. anyaway -- anyway, there are similarities but necessarily don't have to be quite repeated. take a listen. >> one thing that disdisturb me -- does disturb me is that the fed in its stress test, it has not since 2018 stressed the largest bank in a scenario where we have a recession, but we also have high interest rates. they always assume that interest rates go back to zero, and that's just not realistic as we fight inflation. again, with higher interest rates, there are going to be losses that large banks have, but that's not been reflected in the stress test x. this year the fed really needs to run these large banks into that kind of scenario where interest rates stay high. neil: that's interesting. you know, sheila, stress tests also don't take into account

emotions, right? like what we had going, i remember talking to you during the meltdown where, you know, the selling and the frenzy fed on itself. people panicked. i better get out, i better sell my stock, i better take away my deposits, and one thing led to another. now, obviously, that's a chain effect and a chain reaction when that happens. so you can't police fear, right? >> that's very true. and, certainly, svb ran, you know, it's not clear to me that actually this bank is insolvent. i guess we'll find out as the fdic sells off its assets what their true worth is. but this feels to me like a liquidity crisis meaning that the bank was otherwise solvent, but it couldn't lick by candidate assets fast enough to -- lick by date assets fast enough to meet the deposit withdrawals, so it had to be closed. and if that's the case, that's too bad. but there were a few people if you see them shooting fire in

the vc community -- the. neil: you're right. >> we faced the same thing with indy mac bank. we had to have an accelerated, it was very expensive for the fdic. so, yeah, fear plays a lot into this. and i would hope, you know, these large, sophisticated institutions should know better, and, you know, calling for widespread deposit withdrawals for a bank that it wasn't clear was in that much trouble really was probably not very responsible, but it is whats. it happened. it is whats. we could have a lot of uninsured depositors taking losses, and the fdic, i'm sure, will work hard to maximize recoveries, but we don't know to what extent they'll be successful. neil: that's sheila bair saying i don't see this necessarily being a repeat of the financial meltdown, but the concerns are out there. the u.k. finance minister just spoke to the above of the bank of england over this -- the governor of the bank of england over this situation. this is very analogous to what

you saw happening after the collapse of bear stearns in this country in the meltdown back in 2008. obviously, global financial players were talking and communicating a lot on the phones and elsewhere to see if they had any exposure to this or there was any chance that it could spread beyond this. in other words, beyond just silicon valley bank. we're monitoring that, we're monitoring whether history does, indeed, repeat itself. bernie marcus isn't so sure, but he's watching it just the same. the home depot cofounder kind enough to join us now. bernie, always good seeing you. do you think history repeats itself? should people stay calm? what are you telling them? >> well, all i know is that i can't wait for biden to get on the speech again and talk about how great the economy is and how it's moving forward and getting stronger by by the day. this is an indication that whatever he says is not true. and maybe the american people will finally wake up and

understand that we're living in very tough times. that, in fact, the recession may have already started, who knows? but it doesn't look good, and i feel bad for all these people that lost all their money in this woke bank. you know, it was more of a stress -- it was more distressing to hear that the bank officials sold off their sock before this happened. it's depressing, to me. who knows whether the justice department will go after them. they're a woke company, so i guess not. and they'll probably get -- the. neil: when you say a woke company, that's technology, venture capital-funded start-ups and all of that, they might have been disproportionately exposed to this. do you think there are others like this bank out will there? -- out will? >> i think there probably are, yeah. i think that the system, i think that the administration has pushed many of these banks into

more concern about global warming than they do about shareholder return. and these banks are badly run because everybody is focused on diversity and all of the woke issues and not concentrating on the one thing they should which is shareholder returns. instead of protecting the shareholders and their, and their employees they're more concerned about the social policies. and i think it's probably a badly run bank. they've been there for a lot of years. it's pathetic that so many people lost money. they won't get it back. neil: you know, bernie -- >> and that's the way of the world. neil: you might be right on some of the woke stuff, it might be simpler to say that they exposed themselves and were spoiled when we had interest rates at near 0. they had a lot of those bonds

and treasuries, they're now underwater. when they have to cash out to give money to investors who want out, they lose money, and it feeds on itself. given the strong employment report we just had and the likelihood that the federal reserve will keep hiking rates the deal with that, are you worried that the compounds hinges to, let's say -- things, to let's say regional banks, whatever their investment philosophy? >> yeah. yeah, i think it doesn't portend to be something good, and the fed keeps raising rates and inflation keeps going in the wrong direction. it's not staying where it should be. people are struggling, neil. people can't pay their bills, they can't keep, fill their tanks with gas. and if you think that's a good sign, i don't think it is. and we have an administration that's obtuse to this. they just keep talking about the great times and how good it is.

it's not good. and somebody with a sane head has to come in and understand that you can't do two things. number one, you can't keep raising rates, you can't keep inflation as strong as it is, and you can't tax people more than they are. if i -- and his proposal to tax the middle class and the rich is about as dumb as it is i've heard in a long time. in a recession like this, you don't do things like that. what you try to do is build the economy, create jobs, create a job where somebody could cover their experience -- expenses. ask they're not thinking in those terms. neil: but, bernie, you know, they come back, they come back, bernie, and say we are creating jobs. 311,000 this latest month, half a million the month before that the, so they say that's actually kind of the problem. we're doing the so well in the

job market, that's what's prompting the federal reserve to raise interest rates and make matters potentially problematic down the road. what do you think of that? >> well, you look at how many people are employed and how many people have opted out of the job market, you'd have to add a hell of a lot more people getting jobs every month in order to make that up. and i think the fed is looking at that, but the fed is looking at the inflation rate more than that. so no matter how many people you hire, let's say the people they just said they're hiring, they're not going to be able to cover inflation. and all the people out will the are struggling now, and we keep losing. we keep thinking about the big companies like this bank, and we forget about, you know, the poor contractor, a home depot store

that has trouble, number one, finding somebody to work. he's still having difficulty. the job market is open. all small businesses are struggling. and, if anything in america that's struggling, it's small business. they can't find people in a pizza joint or waiters or cooks. 70% of the employees in the united states work in small businesses. so we have to start thinking about those businesses. and, of course, the biden administration is about trying to anyway raise taxes on these people and tax them in areas they haven't been taxed before. they've struggled enough. you know, job creators network, which i started, does a lot of information about small businesses, and we did an

informal survey, and 60% of small businesses feel that they won't survive this year. and that's not good. and the administration is proposing more taxes on them. well, who is that going to help? i don't have a clue. neil: well, they talk, bernie, that they're going after -- the administration -- i'm sorry, my friend. they say they're going after guys like you, the billionaire class, the uber-rich class, and they're going to target you guys because you don't pay enough, you don't coenough. what do you think of that? >> well, i think it's a lot of crap. first of all, you know what? i don't mind paying taxes, but i don't mind -- i do mind giving my money to the government. if you look at all the things i've cone and all the things -- i've done and all the things that some other wealthy people have done, i've built hospitals, i've built traumatic centers, emergency centers, built an

aquarium for people. i've built so many things that put money into medical research. i don't want the money going to the government to spend on nonsense, on stay tuned things which they do. -- on stupid things which they do. i'd rather control my own money, and if they want to tax me, tax me. but they're not going to -- they're going to open more industries like the wind farms and the killing all the whales, all things that they do that they think are right. we're going to take all motorized cars off the road and put electric cars on the road when we don't have enough stations to recharge these cars. nobody is thinking in terms of 5, 10, 15 years from now. two more years of this administration is two more years too much.

i go back and i think about what trump did, and whether you like him or not and a lot of people don't like him because of the way he acts, but the truth is his policies were great, the economy was good, inflation was low. people were earning money at every single level. the minorities had more jobs than they ever had before. and the prosperity was out there. and all of a sudden biden comes in, cuts off the oil, cuts off our energy and kills america. and if we go with two more years of this, god knows what'll be left. i mean, i'm looking forward to 2024, and i hope -- neil: is donald trump, is donald trump, bernie, your candidate? is he the one you're backing, donald trump? >> well, there are a lot of -- he's got some great people running. we have donald trump, we have our governor in florida, we have

the vice president, we have nikki haley. there are some -- neil: do you have a favorite of that group? who's your favorite? >> oh, at this point i'm going to wait and see. look, i think that donald trump had great policies, but with the policies comes trump. and if he can't discipline himself, he's not going to be a good president, and he won't be elected. what's the use of running if he can't be elected? he's got to change the way he conducts himself, and if he because and brings back the policies or any other republican that comes in is going to do the same thing. very strong economic policies and bring this country back to where it should be. oil-sufficient, energy-sufficient and inning -- inflation that will be down because it'll bring the interest rates down. the interest rates that this

government is paying today are astronomical. if you think about the debt that we're in and how much interest we're paying on it, this country's pointing to go broke in a very short period of time, and they'll have to tax everybody. that means from the lowest to the highest. and there's not enough money out there to cover what these democrats are trying to spend. you have to understand that they need to stop spending money, start saving money, start putting money in better places or this economy's going to go nowhere. neil: all right. in the meantime, i think i can conclude that you're a maybe on pride season and a maybe on electric vehicles -- on president biden. does that cover it right? >> no p i'm not on electric vehicles at all. [laughter] you are so wrong about that. neil: all right -- [laughter] go ahead. enter no. you're wrong about that. neil: got it. all right.

bernie, it's always a pleasure seeing you. you state your mind and opinion, and that is your right. we thank you for that. in the meantime, bernie was just talking about the republican field of candidates. there are two very closely-scrutinized candidates who will actually be within miles of each other or at least over one time period, so we're keeping a close eye on that as is alexandria hoff right now in washington. >> reporter: hey, neil. yeah, everybody 's heading to the same place right now because the iowa awe caucus is less than a year a away. whoever wants to secure a win really needs to get to work right now. and that's regardless of making big announcement or not. both governor ron desantis and former ambassador nikki haley stopped in iowa yesterday. it's actually the second stop for haley since announcing her run for the white house. former president trump is scheduled to visit the state on monday. currently running, of course, his third straight presidential build, and the thing that's -- he's taking clear jabs at desantis who is considered

trump's leading rival. the governor is not expected to make a decision until florida's state legislative session is wrapped up sometime during the spring, and it's been a busy one as he highlighted in iowa yesterday. >> we say very clearly in the state of florida, we will night the woke in the legislature, in education, we will fight the woke in the business, and we will never, ever surrender to the woke mob. our state is where woke goes to die. [applause] >> reporter: you hear the word woke a lot, and white house press secretary karine jean-pierre was asked about some of desantis ' comments yesterday. here's what she had to say. >> when republicans, extreme republicans, these maga republicans don't agree with an issue or with policy, they go this conversation of woke. but that is the not actually policy. what they, what that turns into is hate. what it turns into is

despinninging bl policy. that is just hate -- despicable policy. that is just hate, and it is shameful. >> reporter: all right. today desantis will make a stop in nevada. neil? neil: thank you for that, alexandria. in the meantime, nikki haley says, yeah, bring troops to the border. why? after this. we all need cash in the bank to stay ahead. well here's great news for veterans who own a home. home values have climbed to near all-time highs, too. that means the cash you need is right there in your home. newday can unlock it with the newday 100 va cash out loan. it lets you borrow up to 100% of your home's value. not just part of it like some other loans. pay down high-rate credit card debt, consolidate your second mortgage and car loans, and have the security of cash in the bank. the va has granted newday automatic authority. when banks so “no” to a veteran, newday can say “yes.”

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neil: mexican president today, lopez obrador, was saying that he he would not permit any kind of u.s. troop contingent following up the threat of military action along the border to deal with drug cartels. if he said in addition to to being irresponsible,s the an offense to the people of mexico. what do you say? >> you know what's an offense to

the people of mexico? it's the fact that he won't do anything about the drugs and the corruption and the cartels that are happening there. what we need to say to him is either you deal with your cartel situation, or we're going to keel with the cartel situation. we need to use our special ops and our intelligence to go and deal with the cartels just like we dealt with isis and go and crush hem and make sure that they know this is not going to the happen. this is about the national security of americans. this isn't about the hurt feelings of a mexican president. neil: all right. nikki haley, the latest republican to say maybe the only way to solve this drug problem at the border and americans getting kidnapped and worse at the border and a new situation in the that regard, by the way, we'll tell you about in just a second, we need to get there and fast and have our soldiers there and soon. the mexican president, of course, disagrees. griff jenkins with the latest on this back andport in washington. >> reporter: hey, neil, good morning. a new situation. now, it's unclear if they're u.s. citizens, but they are definitely residents of the u.s.

three women have been missing now for over two weeks, neil, and the fbi says it cannot comment on this investigation. i've been in touch with them today, and i just got off the phone with the assistant police chief penitsa, texas, not far, just west of mcallen. they gave us these mexican be on alert pictures. you see two sisters, marina and marisa, along with their friend dora. now, they crossed into mexico on february 24th enroute to sell clothing at a flea market located just southeast of the mexican city of monterey. the three were reported missing on februaryth -- 28th when the families reported it to the penitas police. these families are worried these women would have possibly been kidnapped. they were last seen traveling in

a 1996 green chevy civil rad coe with texas plates to matamoros. it comes, neil, in the wake of the horrific cartel kidnapping on where the four americans were taken, two of whom were killed. the bodies of shay woodard and brown just returned to the u.s. on thursday. and it comes, as you mentioned, mexico's president lopez obrador blasting u.s. suggestions of labeling drug cartels as terrorist organizations and claiming they are not sending drugs over the border. congress congressman dan crenshaw says he's part of the problem. >> it seems pretty clear he's more interested in representing the cartels than the mexican people. of it's all produced in mexico, the precursors come there from china. he lets his cartels operate with

impunity. >> reporter: it's worth noting the mexican military just took down the largest fentanyl lab in mexico's history three weeks ago in sinaloa which is "el chapo"'s old so far thing ground. member he needs to get on the same page with his own authorities. neil? neil: you know, griff, it's interesting when you talk to border patrol folks, and you talk to them far more than i co, almost to a man they have been saying the same to me that we don't need soldiers as much as taking the handcuffs, no pun intended, off of the border patrol agents to do their job. and they could deal with this drug do issue, and they have the man and woman power to do just that. how is this going down amongst the folks that you talk to, the idea of bringing troops to the border? >> reporter: well, listen, all hands on deck, and any assistance is helped. you're right, what the border patrol officials have been saying for the last two years of this unprecedented border

crisis, neil, is that they need to free up the border patrol agents to do what they do best which is enforcement along the border. they have been consumed largely with their work force having to process and transport migrants who have been coming over in mass numbers and being released. they need those agents down can on the, quote, line as they say. dragging those tires, finding footprints and stopping those that don't want to be apprehended and turn themselves in. and the numbers seem to have been down the last couple of months. we'll see what border officials have to say about that. but the other thing they need, neil, and this is critically important, that is cooperation from the mexican government to not leapt that country continue to be a transit country moving migrants from wherever they came from to the u.s. neil: griff jenkins, thank you for that. we'll just see where it goes next. but this troop, you know, pursuit is building up considerable steam. in the meantime, building up

considerable steam and anger in georgia when we learn that 21 of those 23 rioters who in the middle of the night decided to the protest and worse outside a police station weren't even from atlanta, weren't even from georgia, period. the state's lieutenant governor after this. as someone living with type 2 diabetes, i want to keep it real and talk about some risks. with type 2 diabetes you have up to 4 times greater risk of stroke, heart attack, or death. even at your a1c goal, you're still at risk

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neil: now the justice department is getting involved cracking down on some police force.

there's a probe into the shooting of brianna taylor, found the police department might have been engaged in a pattern of violetting constitutional rights -- violating constitutional rights. david spunt has more. >> reporter: neil, this investigation took almost two years and the results are trouble thing. attorney general merrick garland announced the launch of the investigation shortly after he came onboard in the president's cabinet in early 2021. the justice department would investigate the louisville metro police department following the officer-involved death of brianna taylor. she died after a botched raid back in 2020. the doj found multiple instances where citizens' civil rights were violated by this very police department. the attorney general says black people were not treated equally and called vile names by police officers in the louisville police department. >> this conduct is unacceptable.

it is heartbreaking. it erodes the community trust necessary for effective policing, and it is the an affront to the vast majority of officers who put their lives on the line every day to serve louisville with honor. >> reporter: also this week the department of justice announced a review of of the memphis police department following the death of tyre nichols, the unarmed man beaten to the death earlier this year, in january. the doj will also look at specialized police units across the country as one was involved in nichols' death is and later disbanded. the justice department also involved in the investigation down in georgia where 23 people earlier this week were charged with domestic terrorism after they vandalized a police training facility outside of atlanta. the police site is known by protesters at cop city. construction began in early

2022. it's on the site of a former prison. neil? neil: david spunt, thank you. want to follow up on what david was mentioning about this georgia protest the that involved 23 people, 21 of whom were not even from the peach state at all. the lieutenant governor of georgia kind enough to join us. governor ors -- governor, very good to have you. that's pretty remarkable, that 21 of the 23 weren't even from your state. what do you makeover it? >> yeah, neil, good morning. it's good to be with you today. it is amazing, these domestic terrorists as i call them that have been camped out in the woods there in unincorporated city of atlanta where we planned on putting, where the city of atlanta's planning on putting a training center. and they've been terrorizing citizens there, they've been terrorizing businesses, and it was -- thanks to our gbi and our state patrol, they had the initiative, you know, we just

went in there and been trying to eradicate them from this property. and it, but it is amazing that most of these people who are coming here, 90% of them are not from georgia, you know? it's an organized group. it seems to be well funded and well armed and pretty dangerous, neil. neil: you know, governor, i was wondering about that. it clearly seems well funned and, obviously -- well funded and, obviously, social media connections to get the word out to choose this particular facility for a protest, not at your usual time in the middle of the day, but late at night. what are you learning? >> well, just that, that it is an organized group. like i said, they're not, they're not people who are worried about the environment or they're worried about policing, they're just obstructionists. they're people who want to cause problems. they want to, you know, try to play on people's emotions and, you know, so the big things that they've been saying is they're

worried about the forest. they could care less about the forest. all they want to do is cause trouble, destruction and put fear in the people's mind there in that community. and we're just not going to put up with that in the state of florida. we're going to be very forceful team thing with the local authorities there in trying to eradicate this because we are moving forward on putting a training facility in place because, you know, georgia is a law and order state. we're lucky to have a governor who believes that and majority of the statewide elected officials believe in that as well. so we're going to be very proactive about eliminating these outside groups coming in to the state of georgia and trying to disrupt what we're doing and what we feel like's the best state in the country to live. neil: how do you do that the, governor? i mean, people feel, hey, i have a right to protest anywhere i want. if something galvanizes me, i'll

be galvanized, and i'll go to georgia. how do you stop that and how do you kiss certain who means well -- discertain who means well and no means to be, in this particular case, a terrorist? >> well, obviously, these individuals who have shot at police, they've had manufactured bombs that they've thrown at police, and they have -- in the area where they were camped out, the place was completely booby trapped and, you know, so it's not peaceful protesting by any stretch of the imaginationment -- imagination. and you can pick out the ones who are wanting to cause trouble, and you just, you've got to meet them with force, and that's what our state troop thers and gbi have done along with atlanta pd. and you have seen a difference. there's not as many of them as there once was a year ago, and

so i think they're getting the idea that the state of georgia's not going to play around with this. and the crowds are getting smaller and smaller every time they come out to protest. the. neil: yeah, this was bizarre, to your point, governor. could have been a whole lot worse. i'd love to get an update the on how that is all going. burt jones, the lieutenant above of the beautiful state of georgia. in the meantime, not so beautiful weather wise, certainly, what's going on in california. think about fit, last week at this time we were keeling with heavy snows. now, of course, we are dealing with heavy rains, and fox weather's max gorden in the middle of all of that. max, what can you tell us? >> reporter: hey there, neil. an atmospheric river causing flooding and destruction here in california. we'll have a live report coming up. financial well-being to me is knowing that

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neil: we want to take you to paris, france, right now. protests continuing there. the has been almost a daily event, nothing as severe as this, unless, of course, you're counting last week at this very time during this very show. the big to-do has to do with a pension reform plan proposed by president emmanuel macron that calls for taking 45 different pensions and bringing them all into one and raising the retirement age from 62 to 64, but phasing that in over a number of years, i believe about seven years. but parisians, most french workers in general, particularly getting those pensionss now, not at all a fan of this measure and are saying don't touch a thing. of course, macron is dealing with the same realities we are in this country, that there's more money going out for these pensions than is coming in to support these pensions. this, of course, on the heels of president biden this past week proposing a budget that calls for shoring up medicare at least for the next i but years almost

exclusion arively by raising taxes large concern exclusively by raising taxes largely on the rich. that is not an option macron is examining. on paper it doesn't sound too onerous are, but try telling these french protesters that. keeping an eye on that. keeping an eye on weather in the united states as well, particularly in california. that's where you will find our max gourden of fox weather -- max gordon of fox weather, flooding is a major problem. >> reporter: yeah, absolutely. 34 counties here in california under a state of emergency after an atmospheric river slammed the state. we're here in watsonville, california, where a lee see has breached. -- can levee has breached. streets flooded out, homes currently flooded. one man said that all of his stuff is just ruined, he had to wade through these flood waters. people being held back right now, but you can just see it's

going to be an absolute mess to clean up. this comes after massive amounts of rain fell in this area. one national weather service rain gauge picked up more than a foot of rain over a 48-hour period. in santa cruz county, mudslides, downed trees and power lines, thousands of people have had their power knocked out. around 50,000 people going without power during the height of this storm. emergency management officials have confirmed at least two deaths due to the storm and say that the danger is not over yet. along the kern river east of bakersfield, water levels have been rising. warm rain from this system has been melting the heavy snow pack triggering flooding in the eastern parts of the statement, and we have another system on the way early next week. really just not what california feeds with all this moisture, all this flooding, all this destruction. neil? neil: just incredible, max. thank you very much for that, max if gordon of fox weather, following developments in california. boy, that state has been through

the wringer, and apparently there's more to come. in the meantime, you know this is the week that the norfolk southern's ceo alan shaw was up on capitol hill. let's just say it got to be a barn berner. let's also say we have an east palestine resident who has some questions as her own just as politicians did in washington, after this. >> would you live there given what you've seen? the payments high.ive, and consolidate that car loan into a newday home loan and save hundreds every month.

>> i am determined to the make this right. norfolk southern will clean the site safely, thoroughly and with urgency. >> would you live there given what you've with seen? >> yes, sir. >> okay. >> i believe that the air is safe, i believe that the water is safe. i will commit to continuing to

discuss with them important quality of life issues. with our local craft colleagues. >> all due the respect, you sound like a politician here, mr. shaw. neil: all right. a bipartisan bashing of the norfolk southern ceo alan shaw who appeared on capitol hill to address clean-up operations still ongoing in east palestine, ohio. obviously, neither side seemed convinced he was either up to the job or doing the job as fully as he could. i wonder how my next guest should say, i should say maybe a former resident because for the better part of safety, she's opted to move out of the area for the time being. tracy hager is her name, and she's kind enough to join us. tracy, good to have you. >> hi. um -- neil: you -- >> [inaudible conversations] neil: go ahead. >> yeah. i've taken a temporary relocation move. we've joined, like, probably about 13 families as of right now where we've gone 18 miles

outside of town. we're all experiencing the same thing where we live, different distances from ground zero. but we are all experiencing, like, health issues and things like that when we were exposed to downtown areas. i'm experiencing, you know, smells from the creek one direction, and i'm getting them from ground zero to the other, and it's causing people to have allergic reactions in town. they're saying, oh, just limit your time downtown. well, then this is where i live though, so if i'm constantly exposing myself to this stuff and it's making me ill, i have to leave. and that's just, that's just the health portion of this. they're down there cleaning up, they're saying they're cleaning up and they're doing all that they can, but that still does not fix our financial situations moving forward and into the future. this is detrimental to

everybody's, you know, like, we were saving our house to resell it and then move into something better. you know, everybody is looking at their house values right now, and they're going down. this is not financially helping us. we want to move and we want to be able to move in the future and and not have the stigma around this so people are not buying our homes. insurance companies are telling us they're not going to cover our policies moving forward in the town. are they doing the cleanup? the they are. they're doing as much as they have to because they have to the, because the epa's watching them. this is not helping our health, this is the not helping our current situations financially, monetarily. they're doing what they have to do the. to do. they are right, they're doing what they have to do right now, but that is changing every day from when i went down there to receive my assistance, it has changed for other people moving forward day after day once they find out what these people's current needs are and aren't. and they're continuing to deny

people assistance, but they're giving other people the right for the assistance. i think this needs to be a blanket, you know, everybody here is affected. and no matter what level. identify seen more min -- i've seen very minimal, i've seen it maximum, and they just need to get a grip and figure out how they're going to fix this for everybody and that means a round-about. not just the cleanup, everybody knows that, they need to figure out how they're going to fix this in the future because this is not going to help the way our values are for our property, this isn't going to change the stigma for everybody out will there in america that is watching this. and this is a problem, and we have to live with this mentally, physically. they're saying to go, like, call these numbers like hotlines, like we're children calling up numbers in the phonebook. that's b.s. concern. neil: yeah. we'll see what happens here but, like i say, they're a long way from resolving this, and the company is saying that it could take a while but that it hopes to finish the job.

tracy, hope you and your family hang in there and your colleagues, hopefully things will settle down. but it looks like -- >> day-to-day, thank you. neil: day-to-day, i hear you in east palestine. tracy hager. in the meantime, the latest on this failure of a bank. kevin o'leary, you know him from "shark tank," i asked him whether there are other financial sharks out there. he's coming up. they're banking, with bank of america. see cousin jimmy over there? his girlfriend just caught the bouquet so... he might need a little more help saving. for that engagement ring... the groom's parents. ... digital tools so impressive, you just can't stop banking. this isn't just freight. these aren't just shipments. they're promises.

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>> maybe the american people finally will wake up and understand that we're living in very tough times, that, in fact, the recession may have already started, who knows, but it doesn't look good and i feel bad for all of these people that lost all their money in this woke bank. neil: all right. bernie marcus might be calling silicon valley bank a woke bank and tied to ventur