Co-hosts of “The Bottom Line” on Fox Business Dagen McDowell and Sean Duffy join Fox Across America With Jimmy Failla to assess the state of the U.S. banking system following the collapse of Silicon Valley Bank earlier this month.
Dagen: “91 percent of the deposits at Silicon Valley Bank were above the insured limit of $250 grand. Do you know what the mean deposit in a bank in the United States is? The mean is $7,500. So you got a full bailout rescue coverage by the FDIC of Silicon Valley Bank and Signature Bank.”
Sean: “The dollar is the reserve currency. so everyone in the world uses the dollar for transactions. If it’s a transaction between Lebanon and, and Brazil, they don’t do it in their home currencies, they do it in dollars. So there’s a global demand for dollars. If we stop being the reserve currency because we print too much and borrow too much and they all trade those dollars back in, they all come home and you’re going to see even more inflation. So it’s very concerning.”
Plus, Sean has some fun with Dagen and Jimmy for not inviting him to a New York Rangers game they were both at over the weekend. To hear what else they had to say, listen to the podcast!
