>> 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 venture capitalists

and titans many charged with being woke, but the fact of the matter was, it was a bank that made the wrong bet on treasuries at the wrong time and bought tens of billions of those, the price of treasuries went down and flat-footed while people wanted their money. now it's in receivership and run by the federal deposit insurance corporation. it's a dramatic played out amidst talk there could be other problems out there. kelly o'grady has more from los angeles. kelly. >> good morning to you, neil. yes, it's the second biggest banking collapse in u.s. history. the first major one since 2008 and it all happened in the span of 48 hours, what started this is svb found its self short on cash. the stock was plummeting.

invests warned they might not be able to raise money and a bank run and loss of clients and simultaneously tried to withdraw fund. and the regulators have taken over it and insured depositors will gain access by monday. fallout could be dire. roughly 50% of venture capital start u.s. used svb for their needs. there's uncertainly how much folks will get back or what comes next. >> we actually found out when the media found out. my chief operating officer frantically began calling me. so many people are in this. what are we going to do? what is svb going to do for us. they wouldn't talked to anyone. >> and i've talked to those after the collapse, where to go. it was the trusted bank for startups and they would.

some are hoping that a white knight might swoop in. and elon musk said could look into a digital bank. and most banks have been under tighter safeguards since 2008 and svb was making that on bonds. i used to work on the that side and we were wondering when the bubble would burst. neil: thank you. kelly on that. shark thing was telling me that he thinks that this is not a fed problem that this was unique to this bank, so it's silicon valley bank problem. take a look. >> the reason this bank went to zero is very old-fashioned reason, poor management.

the management here bet billions of dollars, when we had historically low rates sitting under 2% and bought long paper, and then the fed brought up 4%. and they brought old debt, lost assumed they could get it from the market. and they're in a quiet period not allowed to talk about it and every one of the companies are pulling out cash by the millions and they couldn't make a comment because they're in a quiet period at some point you have to point a finger at somebody, and i blame the board and the management at this bank is a zero. neil: this would not have happened a year ago when the rates were essentially at zero and a lot of people were caught off guard the rates increase since that time. i wonder if there are more

possible leveraged or behind the eight-ball banks and we hear that big money center banks are a whole lot more capitalized than back then. what do you think? >> obviously, this is an important lesson for every company, not just startups and venture communities. this is a highly speculative portfolio. i'm not blaming the fed, i'm blaming management. i've told my portfolio companies, i do not want to see more than 20% of our liquid assets in any one institution. people felt that way about bear-stearns and lehman brothers. banks blow themselves up all the time because of weak management or management mistakes. neil: all right. so, could there be something systemic here? obviously, a lot of nervousness before the markets open on monday. wall street skid more than 300 points yesterday. for all at wall street, the worst week of the year thus far and it's been a bumpy year thus far. let's go to the case capital

advisors founder and aaron gibbs. welcome to both of you. we're learning that the u.k. finance minister has spoken to the governor of the bank of england over silicon valley and what happened there. silicon valley has no attachment to markets abroad that we know of, but again, a worry about this being maybe bigger than this, this being another bear-stearns, a lehman brothers. what do you think of that, kenny? >> so i don't think it's a lehman moment or a bear-stearns moment. i think that kern kevin o'leary was right, they made a bet and unaware what was going on in the financial world and unaware at the treasury and the fed, and rising rates. we have been talking about this for a year and a half. the fed has been raising rates

slowly and gently for a year and a half. it's not out of left field. there's account, hold until maturity and not marking to market, a portfolio. had they done this, it was brought to their attention after the earnings market in january. interesting, no regulators, nobody seemed to pay attention, had they been forced to market market they would have realized they had a $15 billion loss on their hands, they probably realized it, but the world would have realized it, regulators would have realized and maybe, just maybe, this could have been somewhat avoided. i don't think it was impossible, but the risk management team at silicon valley bank, i think, clearly if you look at it, seemed to be very inexperienced in the financial world and i wonder, neil, if there was anyone that lived through 1975, 1982, that was somehow anywhere connected to this bank because they-- clearly feels to me that nobody understood the implications. neil: you know, the irony of

this, whatever you think of the bank, it wasn't doing anything nefarious with mortgage derivatives or assets that were risky. it was investing in treasury notes and bonds and normally the safest of the safe and unfortunately it bought the majority of the bonds, you know, before interest rates started rocketing, so they were underwater when they needed to provide cash for a lot of investors who wanted out. we know the rest of the story. the reason why i'm mentioning that to you is a lot of folks did that. and then a lot of folks might have that type of position that, you know, if they own those securities right through, when they mature and are due. they're fine. if they don't, they're really technically underwater. do you see that-- >> right, and that's because-- absolutely, because that's the way you make money off of cash deposits. you find some sort of safe yield and so, you were looking for longer treasuries at higher yields versus cash, which was, you know, essentially zero and

so we know that banks that might have runs on them where they have very concentrated types of clients, where all of their clients are going to need money at the same time, there are those banks that are at risk, and fortunately, we know that wall street has already identified those few banks and obviously, it's all about deposits. you do have to put your money somewhere and so much like kevin o'leary said. if you've got your cash spread across five different banks we won't have the massive runs pause because we're talking about actual cash not loans like in the 2008 crisis. it's different in how the banks manage those assets. neil: you know though, kenny, what's to stop people in a regional sized bank or mid sized banks not that there's something wrong, well, maybe i need to be in one of the big money center banks, a lot more

diverse depositor base, through no-fault of the regional banks, that were getting slammed in the last week. >> right. neil: their customers wonder. >> well, listen and you can't blame them. can't blame the customers from being concerned about that. now, if the-- if the regional banks are not under the demands that sivb was, there's not that risk, no reason to have that here, but you can't stop someone after they're witnessing to be more protective and kevin o'leary, if you're spreading out your assets amongst three or four different banks you're going to reduce your exposure, but i suspect you're going to have some people that are going to do exactly what you suggested and going to try to move their money and that may cause some kind of uncertainty and some volatility in the days ahead. again, i would say if the regional bank is not in that space, that tech space, that venture capital space and

doesn't have the risk that sivb had then you might be better off. but i would say, also, you need to protect yourself if you feel uneasy at all and there's nothing wrong with wanting to protect yourself and your assets at any-- you know, by any stretch. neil: erin, a dumb question that might be and you've endured that over the years with me. i wonder if you're jerome powell at the federal reserve and possibly this thing mushrooming just beyond silicon valley, do you slow down your interest rate increases? >> i think at this point the fed is much more concerned about inflation. certainly if it -- if it obviously becomes more widespread, he could be concerned, but just the fact na it really is only about where you can get bank runs and ultimately have to put your

cash somewhere and not putting it outside of the u.s. i think it would be extraordinarily unlikely and it's really about the smaller banks where they have concentrated types of investigators and where investors and where they don't have that spread cross. neil: thank you. we'll see what happens here. again, there are discussions going on around the world on this as to how far this spreads or could spread as the abundance of caution as they used to say. in the meantime, anything, but a cautious response to emmanuel macron's plan to raise the retirement age from 62 to 64. and some say it's too rough, and it makes you think about these here, social security and

medicare that, far more involved, after this. pay down your credit cards. pay off your car loan. consolidate your debt with a va home loan from newday. it's daylight saving time. what's the big deal? what's the big deal? what's the big deal? ♪marching band music♪ scotts daylawn saving is the biggest deal of the year. stock up early and save up to $20 dollars on the best scotts products. ♪ ♪ to all the chevy silverado owners out there. the adventurers and the doers. to everyone that works hard and plays hard. whether it's your first silverado or your tenth. thank you for making chevy silverado the #1 best-selling retail full-size pickup.

(computer keys clicking) (mouse clicks) - shriners hospitals for children is awesome! my favorite people in shriners are the doctors and the nurses because they help people through life. wow, i was a really cute kid! (chuckles) but it's true! shriners hospitals for children is awesome! the first time i went to shriners hospitals for children, i was two months old. since then, they have helped me with over 18 operations, and thousands of rehabilitation hours. because of their care, now, i live a full independent life. i got my driver's license, and i'm going to college! your monthly gift provides me, and so many other kids with the care we need to just be kids. when you call right now, and give just $19 a month, only 63 cents a day, we'll send you this adorable blanket

as your reminder of the journey you helped me make, and the journey you're helping other kids make too. please, do me a favor, pick up the phone, and call this special number to give your monthly gift. or, go online to loveshriners.org right away to give your monthly support. it's amazing to know that there's someone looking out for me and my family. and it isn't just the doctors and nurses who have been looking out for me, it was you. when you call, or go online to give, i know you care, and are looking out for me, and all my other friends at shriners hospitals for children. - [everybody] thank you! - thank you! - thank you. - thank you for giving! - so let's keep this amazing story going with your monthly gift right now! what do you say? all you have to do is pick up your phone, or go to loveshriners.org, and you'll be a part of something special too. thank you so much!

>> you keep your promises to those that were -- that we've made promises to. those that have invested in should keep what they have. we shouldn't in any way jeopardize those that are already expecting something. this is about the new group coming in. this is-- >> i'm sorry, governor. what is the new group. i'm sorry, what's the new group. are you telling those 50 and over, you're safe. 50 and under you're-- i use that arbitrary number. which is the group that's going to change? >> it's the new ones coming in those in their 20's coming in. you're coming to them and you're saying the game has changed. neil: or the game has changed. that from nikki haley, the republican presidential candidate separating herself from some of her colleagues who are running or soon to announce they're running for president

of the united states, that she thinks it has to be addressed and social security how it's funded now is not sustainable as it is right now among the things she's considering, just there, maybe gradually raising the retirement age, trying to change things as to when younger people can come in, in other words, if you're 50 and over right now you wouldn't be affected, but you could be if you're a little younger and more time until retirement. anyway, it is the traditional third rail of electoral politics. and darin shaw, that hurts or helps the cause with our fox news decision desk. a very smart young man. he can help me with this. good to see you. give her credit, she's at least addressing the third rail. i don't know if she'll get electrocuted, but your thoughts. >> well, it is the third rail. you know, democrats have had enormous amount of success in past elections by taking any modicum of movement towards reforming social security and medicare and saying that

republicans are cutting. they're, you know, throwing grandma into the street and that kind of thing. the only thing i could think, neil. she is trying to create some students as the candidate who is authentic, going to tell the truth. so, you know, if you think about it from a broader framing perspective, right, nikki haley trying to have a brand as a truth teller from the other candidates. it might make sense in that capacity. i'm old school on this. any attempt to reform social security or medicare seems to be met with doom in the past and i can't get over that, so i'm kinding of you. neil: not just in this country, but take our viewers over to paris and retirement age 62 to 64 is not going well. in paris, guys, this is throughout the course of the day. they're not fans of this measure on the part of emmanuel

macron the second time attempting that to combine various pension programs into one and raise the retirement age, as i said 64 over seven years. they hate it. is that the same type of reception, even something like that would get here? >> the french have their own unique dynamic, but broadly speaking, yeah, you're going to get something like that and it's, honestly, neil, from a policy perspective it's kind of a shame that we can't have an honest conversation about the future of these programs because i do think there's a general consensus amongst, kind of serious economists that, you know, they're eventually going to be running out of money. that the working base that's paying the taxes that are supporting the current retired generation, that that's going to shrink as the retirement class grow so it's not sustainable. if you talk about it, you're painted into a corner so it's a short-term losing proposition.

it's a shame because from a public policy situation, it's a conversation we need to have. neil: and as far as it goes and any precedent getting it solved. i'm old enough to remember when tip o'neill the speaker of the house and ronald reagan talked about shoring up social security back in the early '80s and indeed they did. they later formed the grace commission that gave more shelf life to their problem and slowly raising the retirement age, et cetera. it was controversial, bumpy. they both took heat, but they both did it. is that possible in this environment? >> i'm dubious, and i hate to say that, as, you know, like you ap the viewers. you know, i have a stake in this. we're all americans and these are programs that have a long and venerable history and people depend on them, there are two things missing. the first is there's almost no willingness on either side, republican or democratic side

to cede anything to give victory, they'll get credit and you'll get blame. and expanding the policy debate in the way that you can horse trade. if you give me this, maybe we should talk-- we'll bring this into play so i can concede something here to get a deal done. it seems to be limited on that front. that's a change that i don't quite-- the partisanship, i understand why that's got enso polarized. i don't understand the unwillingness to expand the conversation that might yield deals, in the '80s and '90s, we used to get those deals and we don't seem to. neil: an explosion would prompt something and you don't want that, the cut in benefits that is slated if we don't get our act together on this. always good having you, darin. thank you, daron.

the subliminal bull in the background. >> always to promote the brand. neil: there you go. something they don't want in the portland area, 8 out of 10 residents, our concerns, including a businessman having a tough time doing business because of it. back after this. isors. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. not that into saving, are you? -whoa, dude... -money. cuz... cuz you paid too much for those glasses. next time, go to america's best where two pairs and a free, quality eye exam start at just $79.95. book an exam today at americasbest.com. ♪

>> probably not a surprise. it goes in portland, oregon, the crime is going up and up and up. doesn't dan springer know it. dan? >> neil, portland had not lost population in any year since 1987, and that was just a one-year blip, but now the city

finds itself at crossroads, plagued by rises in violent crime, homelessness and one of the highest tax burdens in the u.s. ki kingly schneider describes herself as a liberal and after back-to-back record high murders and multiple shootings near her home, she's moved to washington state. >> i haven't heard a gunshot since we've moved. it's been great. it's the little things in life. >> once a magnet for people and company, portland has lost population unprecedented three years in a row. 78% of the area's population feel quality of life is getting worse. crime is the top concern along with homelessness and rising taxes. >> the question the voters are pondering, are we getting the value for what we pay and i believe that they're making choices now because they don't feel they're getting the value

to go to other places. >> vancouver, washington is right across the columbia river with no income tax rate from portland has the highest income tax rate behind new york city. >> liberals like a nice standard of living as anyone else and they've had enough. >> major businesses are leaving. nike closed this big portland store which was plagued by brazen shoplifting and walmart is shutting down the only two stores in the city. >> it's the underbelly of portland. the sick, houseless, the no socioeconomic, it's everybody who is struggling is stopping in there or shoplifting from there. >> portland's mayor didn't respond to our request for comment, but a shrinking tax base must be a big concern and tax fatigue may finally set in at the ballot box. a may vote on a capital gains tax for lawyers for people

facing eviction is trailing in the polls. neil: dan springer. incredible. my friend. back to an old friend on our show, darryl hanson, trying to get along and runs a muffler store, shop, if you will, in the portland area and had a devil of a time getting customers and dealing with all of that. darryl hanson, back with us. how are you doing these days? >> mighty fine. how are you today? >> how are you dealing with this crime? >> it's tough. you know, you just have to work with it, you know. your business drops off. my business dropped off quite a bit because of it and you know, it's tough. it's really difficult to go on. this morning and noon, you find out eight, 10 block from my shop here, break out the window, what are they going to do to them?

nothing. it's sad. our mayor comes up with all kinds of garbage. it's just lip service, just lip service. comes up with ideas that are stupid, you know. he wants to put in the building and make a tent city inside of a building. how dangerous is that? how are they going to heat the tents? catch fire, no one has a chance. you don't put a tent city inside of a building, it's asinine. to make himself look good and a person with common sense, that ain't going to work. i'm sorry, it's not going to work. and i just very, very shameful. you know, and if i didn't-- if my business wasn't, i would be gone by now, pull out my everybody else. my friend say what are you doing here? i'm doing all right i'm going to stay and tough it out.

they said we couldn't do it, we have to go. going other places. neil: what do your customers do? i'm sure they love your service, well regarded in the community and customers are lawyer and give you high marks, but a good many are scared to leave their car there for service, for fear it might be stolen. >> and i can't believe cars overnight, i have to put cars in the shop. only six cars because it's so small. >> sorry, you can't, don't leave them here because i can't be responsible for them. and we've had people steal stuff out of cars and vans that get left here, they break in and steal all kind of stuff out of them. they vandalize them and sometimes just vandalize, don't get nothing out of them. it's just sad. they broke in my shop three weeks ago and didn't get anything, but my briefcase and that was-- all kinds of important shop stuff in it. took me forever to get it.

neil: you stick it out, darrel and you take it out and many of your friends say why are you still sticking it out. why are you? >> i guess stubborn. stubborn. i just don't want to give in. i don't want to give it. i don't want to give in to some stupid thing that can be changed. it's not going to be changed overnight. it can be changed. as long as they start doing it, i will be totally happy, but they're not. taking more money, give me more money, give me more money. where does that money go? how much money us business people give, the small ones, give to the city of portland alone. it's just ridiculous. and where does it go? i don't know. sure don't go no place else, nothing getting done. somebody must be-- their pockets must be getting awful fat. i hate to say that, but where does it go? it's sad that they don't have to account. neil: you have a right to ask

these questions. i want to keep checking in with you how you're doing because you're a brave man and you're trying to do the right thing and the government is not making it easy. darrel hanson, economy muffler's owner. the city makes it tough. neil: the development at the border. word of three women missing in mexico after crossing the border in texas. we're trying to piece all of this together. the latest after this. all across the country, people are working hard to build a better future. so we're hard at work, helping them achieve financial freedom. we're investing for our clients in the projects that power our economy. from the plains to the coasts, we help americans invest for their future. and help communities thrive.

(vo) with verizon, you can now get a private 5g network. so you can do more than connect your business, you can make it even smarter. now ports can know where every piece of cargo is. and where it's going. (dock worker) right on time. (vo) robots can predict breakdowns and order their own replacement parts. (foreman) nice work. (vo) and retailers can get ahead of the fashion trend of the day with a new line tomorrow. with a verizon private 5g network, you can get more agility and security. giving you more control of your business. we call this enterprise intelligence. from the network america relies on.

>> all right. more missing folks at the border right now. this gets to be a concern right now because it just seems to keep happening. let's get the latest from bill melugin from texas. what can you tell us? >> neil, good morning to you. we've learned that two texas sisters from right here in bonitas, as well as their friend went missing going into mexico to sell clothing at a flea market. this is perez rios, and her 48-year-old sister, and friend 53 dora scervantes. and none have been seen or heard from since february 24th when they went into mexico.

and penitas p.d. says they've been in touch with the women's families and they're concerned that they're kidnapped in mexico. they reached out to the fbi to make them aware of this and the fbi confirms to fox news, they are aware and are not commenting. telling the women were last seen driving in a green 1996 chevy silverado with texas license plates. let's talk about where they were going exactly, if we can pull up the map here. the women are from penitas a town west of mcallen and they crossed somewhere in the rio grande valley and headed to mexico, a city southeast of monterey, three hours south of the u.s. border. going to sell clothing at a flea market. mexican authorities are taking lead on this case, on the u.s. side. it will be the fbi and the state department confirms to fox news, they are aware of

this case as well. and back out here live, this is happening one week after four americans were kidnapped in mat mo mexico and they're do not go to mexico for spring break. it's too dangerous. back to you. neil: have they extended to all of texas, cancun, et cetera? >> that's right. they have. texas dps put out a press release, an advisory saying, we understand that a lot of people go to mexico without incident, but they say the cartels are emboldened right now and too much cartel activity going on and they believe in their opinion the risk is just too high for any texas resident to go anywhere in mexico right now. neil: thank you for that update. bill melugin.

the state department is aware of the missing citizens and doing everything in its power to find them and saying we're aware reports of three u.s. citizens missing. and we share information with families however we can. the department of state has no higher priority than the welfare and safety of the u.s. citizens abroad and stand ready to provide appropriate assistance to citizens in need and their families. lieu lieutenant, this is getting to be pretty thorny, chris. this is the second such incident on missing americans. what do you think is going on? >> well, neil, good afternoon. great to be with you. of course we know the dangers taking place in mexico with the recent tragedy. our department is urging anyone who is travelling, spring

breakers, it's too dangerous with violence and kidnappings taking place in mexico, very important and can't stress enough those thinking of travelling to mexico especially for spring breakers, that's one thing we're preparing for in the coming weeks is for spring break to avoid the areas as much as possible. neil: in the meantime, chris, what did you think of this cartel apologizing for the killing of these two americans and then handing over the five who were behind it in that cartel. saying it's nothing to do with us. it's them. we're sorry. what did you make of that. >> that's typical with the cartels. of course, especially now with the most recent tragedy, the fact that it's involving americans, the cartels are receiving a lot of attention and scrutiny of course, they want to divert that attention and by doing so they're willing to give up their own members and that's what is happening.

and that's they're alive. no one is left alive, especially their own members. trying to divert attention and close the story and drive attention somewhere else because the cartels don't want the attention, they want to continue with their business and again, with the government putting pressure on them, it was very important for them to give up their members and divert attention away from them. going back to the conversations and designating the cartels as terrorist organizations, that's why it's federal level we designate the cartels as terrorist organizations. governor abbott about at the state level and now it's time for the government to do something about the situation. the question is raised how many more americans are we going to lose to the continued disaster with fentanyl coming across the border and cartels that have become more powerful than ever before. something needs to be done and there needs to be action. enough of the rhetoric and the talk. it's time for the government to go after the organizations and designate them as terrorist organizations.

neil: some are saying it's time tore troops, u.s. troops at the border. and mexico's president not a big fan of that. what do you think of that? >> anytime you have new type of military response it's beneficial, especially we have the manpower, the technology, resources the weaponry, of course, an uphill battle with the president of mexico. we need cooperation from both sides and it's going to a placebo challenge trying to get the challenge especially with comments made from the president of mexico. we have to do our part as law enforcement since march of 2021 operation lonestar at the state level going after the organizations, seizing profits, and vehicles used for crime. fentanyl coming across the borders. and again, we talk about the situation at the border especially with the federal government not doing its part. right now is not the time to take victory laps because we're seeing increase of fentanyl at the borders and even the ports of entry. by doing that, and that happening. that tells you the cartels

they're beginning to mass produce fentanyl at record levels, we need to do as much both side with the government of mexico as well as the united states and these organizations. >> lieutenant, it's always good seeing you. hopefully this calms down and never seems that way, anytime to calm down for you. chris olivarez, texas department of public safety. thank you, again. in the meantime, we're learning a little more about what made silicon valley bank implode. a lot of folks are saying it's unique to silicon valley, that there's no contagion theory here and there are those, and charlie gasperino what he's hearing.

oh! it's daylight saving time. what's the big deal? gasp! what's the big deal? what's the big deal? what's the big deal? what's the big deal? ♪marching band music♪ ♪marching band music♪ i'll get a cart. get two! scotts daylawn saving is the biggest deal of the year. stock up early and save up to $20 dollars on the best scotts products.

my a1c stayed here, it needed to be here. ray's a1c is down with rybelsus®. i'm down with rybelsus®. my a1c is down with rybelsus®. in a clinical study, once-daily rybelsus® significantly lowered a1c better than a leading branded pill.

in the same study, people taking rybelsus® lost more weight. rybelsus® isn't for people with type 1 diabetes. don't take rybelsus® if you or your family ever had medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2, or if allergic to it. stop rybelsus® and get medical help right away if you get a lump or swelling in your neck, severe stomach pain, or an allergic reaction. serious side effects may include pancreatitis. gallbladder problems may occur. tell your provider about vision problems or changes. taking rybelsus® with a sulfonylurea or insulin increases low blood sugar risk. side effects like nausea, vomiting, and diarrhea may lead to dehydration, which may worsen kidney problems. need to get your a1c down? you may pay as little as $10 per prescription. all right, it was the biggest u.s. bank failure since the meltdown and a lot of people say it's a one-off. silicon valley bank's problem

was unique to silicon valley bank. we told you about meetings abroad with british officials and all, seeing how there could be exposure there, if there's exposure there or working weekend for the financial titans of this country, we're told. charlie gasperino with more on that side. charlie, where does this stand? >> well, right now, i would say every major wall street firm, that is banks, firms, private equity firms, they're looking at this and looking in several ways. if you're goldman sachs you're looking at it because you're the banker for svb, silicon valley bank, you're looking to sell it to something, like to sell the whole thing. if you're somebody else, do i buy the whole thing or pieces? if you're bank regulars, i forgot them, you're looking to see if it creates a lehman moment where there's systemic risk next week to the entire banking system. that part, i think is doubtful that it would be a lehman-like

magnitude where it spreads across and locks down the financial system necessitating a government bailout is essentially what happened in 2008. i don't think we're going to get that. pretty sure we're not going to get there. we'll get something not so great. from what i'm hearing, this could change essentially when i get off the air with you. no major bank really wants to buy the whole thing. jp morgan, bank of america, both got burned by buying bear-stearns and merrill-lynch respectively during the financial crisis and took on their liabilities, they were greater than anybody thought. they're probably not going to buy the whole thing. you're likely to get piecemeal sales of this thing. that's maybe good. better than nothing, but does not solve the problem of a bank that's kind of out there and with deposits, people need their deposits to be taken out of the bank and it's unclear where those deposits are. i mean, you know, remember, what banks like this do, you

take a deposit, they put it, because of regulatory requirements in treasury bonds. they theoretically, you know, not everybody pulls their deposits out at once, so they don't have to sell those treasury bonds. svb had to sell the treasury bonds. they're sold at huge discounts because of the volatility in the treasury market now and prices are down. you get what i'm saying, it's hard to get the money out right now and the federal government is not going to cover the entire amounts of money in there, only the deposit limit which i think fdic insurance is $500,000. so, that's where we are. this could get kind of messy next week, particularly businesses. if businesses had money there and that's something i keep hearing, they're going to have a hard time getting all of their money out and will they be able to make payroll and these businesses are not small businesses. these are silicon valley type

businesses and this could get messy and the broader question, does everybody have the same liabilities, all of these treasury bonds, which they do. neil: we'll see. still early on in the process. hoping it's not the contagion we saw 15 years ago. and charlie gasperino makes him so good, he's on top of this, even things that are bad. in the meantime, china. the leader there is now the longest serving leader since 1949 and you should hear his plans, after this. today, everything costs more: gas, groceries, cars. 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.” not that into saving, are you? -whoa, dude... -money. cuz... cuz you paid too much for those glasses. next time, go to america's best where two pairs and a free, quality eye exam start at just $79.95. book an exam today at americasbest.com. ♪ this isn't just freight. these aren't just shipments. they're promises. promises of all shapes and sizes. each, with a time and a place they've been promised to be. a promise is everything to old dominion, because it means everything to you.

>> xi jinping has just been sworn in for his third term as a leader of china and right now indicating his third term is going to be a lot like the second term, which is a lot

like the first term. a lot more bellicose language and provocative comments. lt. colonel bob mcginnis with us right now "kings of the east author" much, much more. colonel, he's not trying to tone it down in his language and the posture of the country and military budget boosted by 7.3% and literally putting his money where his mouth is, what do you think? >> the national people's congress of course gave him the third term. a unanimous vote, neil. everybody stood and applauded. they know who the boss is there. he not only runs the people's republic of china, runs the military, runs, of course, the communist, chinese communist party. but his statements were that, you know, he said the west is trying to contain and suppress us and then he sent some of his

sycophants out, basically the foreign minister, we're headed for conflict and confrontation. if you read their statements and listen to what they say, they're not backing down. neither are any of the diplomates they send across the world. they have a term, which we often hear about, which is wolf warrior and that is, how they execute diplomacy and this is especially over the last two years become really in your face, very aggressive. so, the chinese communists are very serious about what they're doing and they're trying to intimidate the world. neil: do you think they're succeeding? >> well, they certainly have our attention. if you watch what we are doing and what our allies in the region are doing, neil. you know, just a couple of weeks ago, of course, you know, defense minister, the u.s. defense secretary, lloyd austin, was in the philippines. the filipinos signed a new

agreement with us, extending one they had in the past access up to nine different military facilities, we're going to do joint patrols. we just announced we're going to send more troops to taiwan to do training. we're probably going to accelerate the development and the forward pushing of $19 billion worth of arms to taiwan. the japanese are rethinking their whole defense industry and you know, obviously they're concerned about what the chinese are doing. and then, of course, on monday president biden meets with his counterparts from the u.k. and australia to discuss implications of the tri-lateral security pact, which will include giving or selling nuclear submarines to the australians. all of this is happening here in the recent past. neil: wild, just wild. colonel, thank you, i think.

colonel maginnis, he has a clear-headed read what's happening there. it's worrisome and we'll keep an eye on the bank situation and whether it spreads, doesn't look like it will, but again, they're making sure and dotting i's and crossing t's to see what the financial situation can do to protect itself and us in the process. that will do it for us. fox news continues. so no matter what the market's doing, he's ready. and that's... how you collect coins. your money never stops working for you with merrill, a bank of america company. how do i do it all? with a little help. and to support my family's immune health, i choose airborne. unlike some others, airborne gives you vitamin c and so much more. it's an 8 in 1 immune support formula. airborne. do more. lowe's knows it's not just what we've got, it's who we've got. that's why we've got nearly 300,000 associates that got your back. sure lowe's knows the tools, materials

and tech to tackle it all. but lowe's knows you also need the how to crew. and the partners pro's count on. lowe's knows no matter what you're taking on, it's always easier when you got the right people, the right products, all at the right place. you got this. and we got you.

>> silicon valley bank is shuttering its doors, making its demise the second largest bank collapse in u.s. history. svb bank's downward spiral happened in 48 hours, sending shockwaves through the banking markets and leaving billions of dollars belonging to customers and invests stranded. welcome to fox news live, i'm griff