sheila bair says it may not be the fed.a little bit about this with shah. the treasury department's making big news tomorrow. you want to hear it right after the break. ♪. dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones before you use ai to transform business, accelerate growth, predict trends, you need to begin with trust. introducing watsonx governance. helping you govern any ai, as data, models, and policies change, so you can scale it responsibly. let's create ai that begins with trust, with watsonx governance. ibm. let's create. it's odd how in an instant things can transform. slipping out of balance into freefall. i'm glad i found stability amidst it all. gold. standing the test of time. ■ if you're happy and you know it, clap your hands. ■ ■if you're happy and you know it, ride your bike. ■ ■ if you're happy and you know it, then your face will surely show it. ■ if you're happy and you know

liz: so we were just talking to sheila bair about bitcoin.cifically the intraday chart here. look at this, the price sank below 43,000 this morning reversing a really robust rally saw the world's most valuable cryptocurrency rise above 45,000 for the first time in nearly two years. we're at 42,703 at the moment. the move comes out on heels of a research form based cryptocurrency firm long speculating etfs will be denied by the securities & exchange commission. okay, all we've been talking about this week and last, this is the week. they will be approved. >> likely. liz: likely. but meetings held today between the sec and the stocks exchanges including the nasdaq where the etfs would trade may contradict. what am i supposed to think, charlie? >> i don't know. liz: you don't know? back to you liz. >> hang on a second. do you remember when someone was like the best analyst and they used to call that person the axe? liz: yes. >> i remember back in the day it was henry blodget who was the axe on internet stocks and many others. liz: jack. >> jessi

sheila bair has been concerned. ago, we saw three different banks over the course of a couple of weeks. is this isolated? >> well, look, cycles take time, and the issue all these banks have been dealing with is net interest margin and funding cost pressures. what you saw today was actually new york -- they had a lot of continued pressures on funding, and they actually -- the amount they drew on the federal home loan bank spiked again, and so, they're still dealing with the same issues the industry has been dealing with over the past year. i think what short sellers are moving forward is when does the credit shoe drop. and that's been slow so far. >> but -- so back to, is it new york community bank or the kre, which obviously got hammered, you can probably do the math, and a lot of it is there. i'm looking at a jeffries note, so, they used the term idiosyncratic characteristics. some of those dynamics, including meaningful commercial real estate exposure in the loan mix, 60% of loans, they're not alone on that stuff.