we were joined by thomas but phil hayes for his take on what to expect from a rescue deal. ~ ., ., .,, deal. we are going to see what ha--ens deal. we are going to see what happens tonight, _ deal. we are going to see what happens tonight, either - deal. we are going to see what happens tonight, either they i happens tonight, either they get a deal and jp morgan and others were invited to bid. usp and bank of america declined the opportunity. the odds are on a receivership and then a bid for the assets. if they do, it will be at a very small level. they have lost $22 billion of market cap. your earlier point, when you see a bank they are like silicon valley bank, you can say it was management, they didn't hedge their risks, but then you saw signature bank, till the day capital and now first republic, and it all points to a common denominator. the fed has moved to aggressively and quickly, steepest hiking cycle in 40 years and things are starting to break, so they have to ease off, and this comes at the perfect time considering we have the fed meeting on wednesday.— have the fed meetin