March 15, 2023 • 33 mins
Sean covers the latest news that more banks find themselves in trouble. The FDIC failed bank list is growing at a rate more than you'd think. How far does this go? Sean gives his take...
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Speaker 1 (00:00):
All right, thank you Scott Shannon, and thanks to all
of you for being with us toll free. Our number
is eight hundred and nine for one sean if you
want to be a part of the program Busy Show today,
our economic experts will weigh in on this entire banking issue.
Is this going to spread into a contagion? How dangerous
(00:20):
is it? Do you need to be worried yourself? If
you have more than two hundred and fifty thousand dollars
in any one bank, you need to talk to your accountant,
your financial advisor, or somebody that's smartened finances that you
know and ask them what to do. I'm not going
to give out financial advice, but banks traditionally only ensure
(00:41):
up to two hundred and fifty thousand dollars. A lot
of people that have more money, they'll put two hundred
and forty thousand in this bank, two hundred and thirty
thousand in that bank, and then each individual accountant is
then therefore ensured at a different bank. Not really good
news as it relates to the four biggest banks. Now,
this Silicon Valley Bank was what the sixteenth largest bank
(01:05):
in the country, but the four biggest US banks. They
lost a lot of money fifty two billion dollars of
market value as part of this, you know, broad route
of across the financial stocks. A lot of banks, smaller
banks are seeing massive losses in terms of their stock prices, etc. Etc.
(01:27):
I'll give you one example. JP Morgan lost about twenty
two billion in market value. Bank of America lost roughly
sixteen billion. Wells Fargo their capitalization was down ten billion,
City Bank down four billion. Now that these are banks
that are you know, are going to be safer and
more secure, etcetera, etcetera. But you know, when you look
(01:49):
at the data and the failed bank list, it's beginning
to grow. I mean, you have a signature bank. Remember
Barney Frank Dodd Frank Legislation. That's where he was on
the board of He's the one that was advocating and
lobbying for this regulation change that clearly would have benefited
(02:09):
the bank that he had a relationship with. Now we
got the Silicon Valley Bank and their funds, and there's
a whole list. If you look at the FDIC and
their failed bank list, a list of banks that have
failed since October of two thousand, it's it's more than
you would think. That's what people who are most worried
(02:30):
about now is how deep is this going to be?
How far does this go? Um, There's going to be
a lot of investigation behind all of this. The New
York postout of peace out today. The primary beneficiaries of
Biden's Silicon Valley Bank bail out, what I call the
Biden billionaire bailout bank bailout, is our Democrats. When the
(02:54):
Silicon Valley Bank failed, Joe Biden decided to toss out
the rule book guarantee deposits that needed the FDIC's two
hundred and fifty thousand dollar maximum insurance limit. Now, every
everybody knows what that number is. That is not unknown,
that is that is widely known what that number is. Anyway,
So they decided to protect these deposits, lie to us
(03:18):
and say, oh, but the taxpayers, they're not going to
be on the hook for any of this. Okay, If
the taxpayers aren't going to be paying for this, then
tell me who is, Because at the end of the day,
it's going to be we, you, the American people, that
pay for these bailouts for billionaires, because that's what this is.
It's gonna it's gonna end up coming out of your pocket,
because where else would it possibly come from? Now? Is
(03:41):
it going to be a direct tax? Now? Are these
banks going to be forced through regulation to charge more
for services that you will pay? Probably? So that means
it's it's gonna be you that pays us. So that
infuriates me. They just flat out lie about all of
this stuff, and it just gets so frustrating on so
(04:04):
many levels. By the way, can I get a new
cutsheet in their guys if you don't mind anyway, So
back to the New York Post, the Biden administration to
do this, you know it, there's a lot of angry
people out there rightly so, because they're viewing this as
a gift to wealthy Democratic donors in the tech center,
even as mom and pop investors are getting burned in
(04:26):
this deal, and that the American taxpayer are going to
be on the hook for all of this. And this
is billions of dollars. This is a Biden you know,
billionaire bailout bill. And by the way, where is Congress
is input into this, it's a bailout. The account holders
they bailed out are Democrats. Quote one tech insider telling
(04:47):
the New York Post. Quote, Silicon Valley Bank is the
bank of Democrats. They're looking after their own. He added,
if it was the bank of MAGA, what are the
chances it would be bailed out. There's not a chance
in hell goes on. They saved the Democratic donors, but
who were the equity holders? The Tech Insider noted, quote,
retirement funds brought into this many or policeman, teachers, firemen
(05:10):
just trying to retire. And meanwhile the equity bond holders
were completely wiped out as part of the rescue by
state regulators and the FDIC. And those included big mutual
funds that operate in retirement funds for working Americans. Vanguard
Group owned what nearly eleven percent of Silicon Valley Bank shares.
(05:31):
Electric Pension Insurance Mutual owned nearly four point five percent,
Franklin Mutual Advisors owned nearly two percent. You know, the
Wall Street Journal, as they pointed out in an op
ed yesterday, argue that instead of hedging for financial risks,
that Silicon Valley Bank's real hedge was to curry favor
with the Biden administration. And then, you know, we noted
(05:54):
yesterday they had committed you know, the bank released their
ESG reports stating they had committed five billion dollars towards
sustainable finance and carbon neutral operations to support a healthier planet.
Will that ought not be a consideration in the banking business. Moody's,
by the way, in a really harsh blow to a
(06:15):
reeling industry, Moody's Investor Services has now cut its view
on the entire banking system to negative from being stable.
The firm, part of three big rating services, said yesterday
that they're making the move in light of the bank
failures that prompted regulators to step in on Sunday with
the dramatic rescue plan for depositors and other institutions impacted
(06:40):
by the crisis. We have changed to negative from our
stable outlook on the US banking system to reflect the
rapid deterioration in the operating environment following deposit runs at
Silicon Valley Bank, Silver Gate Bank, Signature Bank, and the
failures of SVB and SNA. According to Moody's report, Now
(07:03):
you really can't you know, you can't blame Moody's for
being honest, which is more than you're getting from a
lot of other people these days. You know, but don't
worry if you're a Democrat. COVID is Trump's fault. Bank
failures that's Donald Trump's fault. Train derailments are Trump's fault.
Gas prices are Trump's fault. Afghanistan was Trump's fault. The
(07:23):
border is Trump's fault, The deficit is Trump's fault. Inflation
is Trump's fault. Ukraine is It's all Trump's fault. So,
you know, this is the Biden billionaire bailout debacle has begun.
And you know, now the question is will this become
a contagion as they call, will this spread? How far
will this go? Because you know, what really frustrates me
(07:47):
is that there were some really really smart people that
do their job the due diligence that you'd expect, especially
when it comes to money and banking, etc. You know,
we do know that in November, JP Morgan did a
full complete analysis on this bank and predicted this very
thing was likely going to happen. Now that's interesting, especially
(08:11):
in light of the fact that the Justice Department and
the Security and Exchange Commission now are now investigating the collapse.
How did this possibly happen? They're investigating the collapse of
these banks the investigations are examining stocks sales. Now. I
didn't like the fact that two weeks prior to this failure,
I guess the president of some high ranking official at
(08:34):
this bank cashed in three and a half million in
stock the day that the FDIC took over the bank
on Friday. That day, everybody got their bonuses just before
the bank was taken over. The night before they had
a big party at a big steakhouse. I didn't like
that part either. Again, I'll go back to JP Morgan
(08:55):
warning in November that Silicon Valley Bank sixteen billion dollars
unrealized law could pose a very serious risk. They now
release their troubling research after holding a deep dive of
webinar with the Silicon Valley Bank CFO. You know, should
the balance of deposits outflows inflows persist for longer than expected?
(09:18):
Another topic they discussed, you know, the risk that SVB
will need to sell underwater held to maturity securities and
realize losses. What we were talking about is what I
have been trying to explain, and that is that as
a result of Biden, Biden's economic and energy policies that
(09:40):
have caused a forty year high of inflation that has
resulted in the FED rapidly raising interest rates, dramatically raising
interest rates the likes of which we haven't seen in
two decades. Well, this particular bank mortgage backed securities, treasury,
but they're talking, we're talking about ten year of treasury bonds.
(10:03):
So all of a sudden, now the depositors want their
money back, and the only way they can get it
is to sell their treasuries at what is a huge,
huge loss, you know. So you have all these banks
now collapsing. Two dozen other banks forced to halt trading
yesterday amid the panic. I don't know how many still
are are not trading today. First Republic Bank, their stock
(10:28):
plummeted sixty percent. One hundred billion dollars was wiped out
in a single day. And at the core of all
of this it's Biden's economic and energy policies. Remember he
inherited a very low one point four percent inflation rate,
and then he you know, inflation started a rise very
rapidly and then as high as nine point one percent,
(10:51):
but we were told it was transitory, wasn't gonna last,
you know, and then of course he drove you know,
the energy crisis was created because of Biden's resistance while
his adherence to the climate alarmist cult and Joe Biden's
resistance to producing energy domestically. He'd rather import oil from Venezuela,
(11:12):
which makes no sense at all anyway. So that had
an impact on inflation, That had an impact on the economy,
and as a result, it was anything but transitory. What
you have seventeen hundred percent increase in interest rates. So
you have the first financial institution to fail, Silicon Valley Bank.
(11:33):
Their holdings were in treasuries and mortgage securities and they
were hit hard by the Fed's aggressive interest rate hikes
caused by Biden inflation and Biden economics. And that still
remains uncomfortably high of new data today. But you know, Biden,
it's not his faulty blames Donald Trump. You know, if
he's had two years, especially the first two years he
(11:55):
had control of Congress, he wanted to have changed these
regulations to whatever he wanted to change him He had
every chance to do it. So stop blaming Trump for everything.
Dog bites, beast things, your feeling said, Stop blaming Trump.
You know, by the way, many Democrats voted to ease
the restrictions being lobbied by the likes of Barney Frank.
(12:16):
Barney Frank himself lobbied and supported these regulatory rollbacks. He's
a board member at Signature Bank, the second financial institution
to collapse. That bill was changed. The bill that was
changed was the Dodd Frank bill or the Dodd Barney
Frank bill. So he's the one that changed his own bill,
So blame him. He wrote on CNBC in an op ed.
(12:40):
There's one legislative issue which I'm strongly supportive of, a
change that will benefit Signature Aden that he benefits, raising
the fifty billion dollar asset level of which a bank
becomes subject to extra supervision. So you got the you know,
former Democratic radical leftist Barney Frank, the co author of
Dodd Frank instrumental in removing the oversight at a bank
(13:04):
that has now collapsed. And we're supposed to believe this
is Donald Trump's fault. How much money Barney were being paid?
When are we going to find out that little nugget?
So as Joe Biden's policies, he sat around and did nothing.
By the way, experts were warning, JP Morgan was warning.
Other people saw this coming and all they get is
(13:28):
blame Trump. And now the question is is this going
to be a contagion? What is a contagion? Is this
going to spread to many banks around the country. Are
we going to have a real banking crisis. They might
be able to stave it off, They might be able
to stop it temporarily. How long is this? How many
other banks did what you know, Silicon Valley Bank did
(13:52):
and invested in long term treasuries not expecting this record increase,
these record increases in interest rates. And I don't I
don't have the answer to those questions. I don't want
to bring bad news. But there's a lot of things
happening internationally, foreign policy issues that I really are chilling
to me. The broker deal with China, the Saudis, the Iranians.
(14:16):
I'm not loving that China's president is gonna meet with
Vladimir Putin. I've been talking about this new you know,
access of evil if you will. It looks like it's
coming together. We had the recent incident, by the way,
the United States condemned the downing of a US spy
(14:37):
drone by a Russian fighter jet over the Black Sea.
This happened earlier today, and an incident that underscores how
the Ukraine War has now increased the risk of direct
confrontation with Moscow and Washington. He had two Russian jets
carried out what the US military described as a military
intercept of MQ nine Reaper. It's a drone international airspace.
(15:01):
One of them collided widget and flew in front of
the unmanned drone and unsafe maneuvers. Uh, what's Joe gonna
do about that? And what's Joe gonna do about this
new alliance with China and Russia and the new alliance
with the Saudist and Iranians. The reason the Iranians were
were with US in Israel and Jordan and the Emirates
(15:24):
and Egypt was to stop Iranian hegemony and hostility in
the region. If the Iranians get nukes, God help this world.
Driving the liberals nuts. Sean Hannity is back on the
radio right now, all right, twenty five nowntil the top
(15:48):
of the hour, eight nine, Shan is her number. As
we now dig deeper into this, this Biden billionaire banker bailout, know,
you begin to see a nexus, a criss cross, You
begin to see relationships emerge. Now who do. I always say,
(16:08):
makes this country great. The people of this country make
this country great. You listening to this show, make this
country great. The people that work hard, they're put in
their twelve, fourteen, sixteen hours, whatever it is every day.
The people that you know, get up every morning, make
their kids lunch, get him off to school, go out
to work. They pay their taxes, they obey the laws.
(16:31):
They love their country, and you know, exhaust themselves so
that they can provide for their families. They are the
people that make this country great. But then you've got
the elite. Now, if you listen to Democrats, if you
listen to Joe Biden, he has a monopoly on compassion
for the poor people, working class in this country. We've
(16:53):
all often and always talk about the forgotten men and
women in this country. And that's most of us, most
of you in this country. And that would meet and
everybody from the farmers to the truckers, to the carpenters,
to the plumbers, to the home builders, to the nurses,
to the doctors, to the lawyers. I mean, everybody's working
(17:15):
at Everybody that I know works their ass off. I
don't know anybody that doesn't. I don't know anybody that
works an eight hour day anymore, Linda, does anybody on
our team work an eight hour day that? I maybe?
I don't know of anybody. No bus, not a single one, No, no,
everybody's all all in all day. I buy lunch every
(17:37):
day from by radio team. I have a sinister motive.
I don't want them leaving their desk. We don't have time.
We have too much work to do, and news is
breaking up to the second we come on the air
works four hours a day. Maybe he's a good example
that But Ethan's right, that's a good example, one of
the rare ones. And it's the people. But then you
(17:59):
now discovered we have this you know, Biden billionaire bank bailout,
and what are we finding out? For example, this is
from the New York Post. One. What is the Hillary
Clinton mega donor who went to a Shinto shrine to
pray after Donald Trump won the White House? An other
work for President Barack Obama before her own political career
(18:19):
spectacularly failed. A third is a prolific contributor to Democrats,
including Nancy Pelosi, who owns a Napa Valley vineyard just
fifteen minutes from the former House Speakers there's even an
improv performer twelve directors who are supposed to oversee the
fallen Silicon Bank and prevent catastrophic errors that through the
(18:42):
entire banking system into jeopardy where it remains today. That
started on Friday. They may not be household names, but
the headline in the New York Post is Obama official,
Hillary Donors, improv actor meet the Silicon Valley Bank Board
of directors. Anyway, so they found out in a New
(19:02):
York Post investigation, you know that they're facing a serious
a series of investigations into their collective role into this collapse.
You know, only one independent directors under sixty the oldest
to seventy eight. But these contributors went hand in hand
with the bank's business model. Everyone knew it was the
(19:22):
go to bank for the woke CEOs, according to one
source telling the New York Post, they knew they were
aligned politically. The companies SVB loan money to all, had
a woke agenda. Svb B had a five billion dollar
commitment to woke. You know, and these are the people
(19:44):
now that are getting bailed out by their friendly politicians.
When we get when we finally get to the bottom
line and how much money would was donated. I guarantee
you it's gonna be massive sums of money. We're getting
some trickling in data right now. Also from the New
York Posts, Silicon Valley Bank, Signature Bank, and Credit Credit
(20:08):
Suisse donated one point two million dollars to Democrats since
twenty seventeen. That's a lot of money. The banks, through
their employees and affiliated packs, donated nearly one point two
million to Democrats between twenty seventeen and twenty twenty two.
According to the government transparency group Open Secrets, Republican candidates
(20:29):
got less than seven hundred fifty thousand dollars. All three
banks spent big to defeat Donald Trump in twenty twenty,
collectively giving one hundred ninety eight thousand to Joe Biden's
presidential campaign. SVB, Signature Bank, Credi Swiss joined jointly gave
seventeen thousand, five hundred ninety seven dollars to Trump and
(20:50):
five thousand, five hundred and sixteen to his upstart run
in twenty sixteen, and since then, you know, ninety thousand
dollars to Democratic National Committee in tens of thousands to
individual Senate campaigns like Chucky Schumer and Mark Warner and
Joe Mansion and John Tester and Mark Kelly. And Tester
was seeing Monday night rubbing elbows with partners at svb's
(21:14):
law firm during a posh Polo, I'm sorry, Paolo Alto fundraiser.
I'm Polo, sorry, Polo, it says Polo actually in front
of me. But whatever, But you get my point. By
the way, Gavin Newsom shouldn't shock you here either. The
intercept reporting cheering Silicon Valley Bank bailout, Gavin Newsom didn't
(21:35):
mention he is a client. At least three of the
California governor's wine companies are held by SVB, and a
bank president sits on the board of his wife's charity. Anyway,
So Gavin Newsom praising the Biden administration and their decision
to intervene on behalf of this bank SVB clients after
(21:56):
the bank was taken over by the FDIC on Friday,
admit a bank run the White House acted swiftly and
decisively to protect the American economy and strengthen public competence
in our banking system. Nussen said in a statement. What
Newsom didn't mention is that it also protected his own
companies if they held over two hundred and fifty thousand
(22:17):
dollars in deposits. Considering he owns a winery, I would
assume that he probably does. I don't know, just a guess,
A professional guess on my part. He didn't mention that
his wife's professional ties to the bank. Silicon Valley Bank
gave a hundred thousand dollars to the charity founded by
his wife. You know, I mean it's you've got these
(22:40):
ancestuous relationships here. I mean, it's unbelievable. Yesterday we told
you about New York Post editorial Biden is forced to
bail out a banking system and his donors that he endangered.
I mean, there's always a nexus here. There's always a
story behind the story here. And the bottom line, you know,
Joe Biden can go out there like he did. I'll
(23:02):
play it for you. No losses will be borne by
taxpayers over bank closures. Listen, all customers who had deposits
in these banks can rest assured. I'm gonna rest assured
they'll be protected and they'll have access to their money
as of today. That includes small businesses across the country
that bank there and need to make payroll, pay their
(23:24):
bills and stay open for business. No losses will be
in iman. This is an important point. No losses will
be borne by the taxpayers. I mean to repeat that,
no losses will be born by the taxpayers. Instead, the
money will come from the fees at banks paying to
the deposit insurance fund. Who pays the fees? You do?
(23:46):
You the American people, and those fees are going to
be on every bank. You know, pensions, pension funds lost
millions of dollars in the Silicon Valley Bank collapse. Did
you know that The Washington Examiner pointed out very pension
funds invested in Silicon Valley Bank have lost millions in
the aftermath of the collapse. Now, I guess that they're
(24:06):
going to be protected, But I mean, what happens if
this gets bigger financial ratings, giant downgrades the system. I
told you about Moody's. Primary beneficiaries of the Silicon Valley
Bank bailout or the Biden billionaire bank bailout are liberal Democrats,
you know, So the billionaire bailout debate begins. Now these
(24:28):
are the same people. We're not going to tax people
that make under four hundred thousand dollars a year. Oh okay,
but they're raising taxes on oil, gas, and coal. Well
that's a tax on every American, and nobody calls him
out on it. George Herbert Walker Bush read my lips.
No new taxes. Boy, they rammed that down his throat
when they got him to break his own promise. How
(24:51):
is it that Joe Biden isn't held accountable for wanting
to raise taxes on pensions, oil, gas, coal, and corporations.
Corporations aren't paying those taxes. How many times do I
need to tell you? By the way, the key inflation numbers,
prices are still out of control. It's hard to believe
inflation six percent when the prices of so many everyday
(25:12):
staples have increased anywhere by thirteen to fifty five percent
in the last year. I doubt we're even getting the
right numbers from them. Biden's inflation is now just four
times as high as it was under Donald Trump. Oh,
we're really making progress. Congratulate Joe Biden on the you know,
four tenths of one percent drop and inflation. Gee, we
ought to be so happy. And what is the Biden agenda,
(25:36):
Biden administration's agenda, or they're going after your gas ranges
and now they're going after washing machines. Apparently last month,
Biden's Department of Energy proposed new efficiency standards for washing
machines that requires new appliances to use considerably less water,
all in an effort to confront global climate crisis. Look
(25:56):
at his look look at his budget and what the
budget calls for. How many you know, billions and billions
and billions of dollars are they spending on this new deal?
A socialist madness, this climate alarm at cultist madness, because
that's what it is. It's insanity. Never mind the fact
(26:17):
you know, economically, you know, look at this country. I
don't know how bad this bank crisis is going to be.
I'm expecting it to get worse. I'm hoping it doesn't.
I don't want to see this country deteriorate any further
than it has. You know, the border crisis is you know,
that was all preventable. The energy crisis was preventable. We
(26:40):
should be the most energy dominant country on the face
of the earth. You know, last year Saudi Arabia made
trillions of dollars and right now with Vladimir Putin shutting
off the spicket in terms of energy to Western Europe,
we should be filling that void. Then we would be
an energy rich nation. It's good for our national security,
(27:03):
it's good for you know, career jobs, high paying career
jobs for Americans. It's it's good for our allies. They're
not dependent on a hostile regime with a hostile actor.
You know, well, the Biden administration condemned the shooting down
of a US military drone, obviously hostile. Putin doesn't think
(27:24):
there's gonna be any repercussions for this. That's why he
did it. China now is going to meet with you know, Putin,
and then he might call Zalinsky. Okay, he's gonna negotiate
with Zalinsky if you give this land, this land and
this land. And I'll tell you why people's support for
(27:46):
Ukraine is waning thin. And it's the reason is they're
not fighting the war to win the war. The reason
is Biden's talking about how it might go on another
three some odd years. That means, you know, we're now
talking about Afghanistan two point zero. It says, if we
didn't learn anything from these experiences President Cheese meeting Putin
(28:09):
in Moscow. That shouldn't concern us. The Iranians aligning with
the Saudis, breaking off of a real solid coalition of
the US, Israel, the Saudis, the Egyptians, the Jordanians, the Emirates.
Are you kidding me? You think this is good for
the world. China is building their relationship with Iran, and
(28:30):
Russia is building their relationship with Iran. You think any
of these countries like the United States of America, No,
they do not. This This is a clear and present danger.
And by the way, do you think it's a little
embarrassing that the Mexican president, Mexico's president, is saying that
Mexico is safer than the US after the American tourists kidnappings.
(28:54):
But what is he looking at? Well, he's looking at
Chicago and Los Angeles and New York and the idiocy
of Nobel laws and the stupidity of defund dismantled the police.
It's sad, but you can make an argument he's not
that far off. Do I believe that Mexico is safer? No,
I do not, But I do believe that our cities
(29:18):
and towns are far less safe because a democratic madness.
Key inflation numbers are now showing prices are still way
out of control. You know, and you know, and they
want washing machine rules and gas stow of rules. This
is where their their heads at. It's unbelievable. Oh and
(29:40):
by the way, on COVID, you're gonna love this news.
It turns out US government agencies they may have doubled
build for projects in Wuhan, according to records, indicating, in
other words, the US is possibly possibly scammed out of
tens of millions by the Wuhan Virology Lab. Not only
did you pay for it, you got robbed on top
(30:02):
of the free money that they gave them that they
never should have given them in the first place. That's
news today too. Joe Biden's woke Navy wants to boost
their budget to fight climate change. This is in biz
Pack Review. I can't believe this is what we're talking about,
but it goes on. Navy wants Congress to fund an
additional three ninety seven million in climate change resiliency programs
(30:24):
in twenty twenty four, including money for electric cars solo
micro grids, according to budget plans revealed Monday, and if
Congress grants the funding. Total Navy Marine Corps spending on
climate related programs in fiscal year twenty twenty four is
gonna be one point four seven billion dollars. Why climate
(30:45):
change with the military? Are you out of your mind?
Do you not see the hypersonic missiles that China and
Russia are showing off? Are you not watching Little Rocketman
is back in business? Are you're not reading it that
the Iranians potentially have nuclear capability? Now this is a mess,
(31:10):
entire screwed up mess. The border. Everything this guy touches
as a disaster. Republicans better wake up, get over your resistance,
your reluctance as it relates to, you know, issues of
voting early and by mail and whatever the law your
state is that the Democrats are doing legally with ballot harvesting.
(31:34):
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American capitalism and never government subsidized. Sean Hannity is on
right now, All right, will we come back? Our economic experts,
Steve Moore and David Monson will join us. We'll get
an update, We'll get their thoughts on the banking crisis
(33:06):
or Biden's billionaire bank bailout. Also, we have Joe Takapina
coming up. Reports abound pretty much everywhere, an expected indictment
of Donald Trump in New York over the Stormy Daniels thing.
What law is it? We'll ask Joe Takapina. Maybe he knows,
because I can't figure it out. Our friend Benjamin Hall,
my friend and colleague from the Fox News Channel one
(33:28):
year ago today, is severely injured in Ukraine. He's gonna
tell us his harrowing story, and an inspirational one at
that
All right, thank you Scott Shannon, and thanks to all
of you for being with us toll free. Our number
is eight hundred and nine for one sean if you
want to be a part of the program Busy Show today,
our economic experts will weigh in on this entire banking issue.
Is this going to spread into a contagion? How dangerous
(00:20):
is it? Do you need to be worried yourself? If
you have more than two hundred and fifty thousand dollars
in any one bank, you need to talk to your accountant,
your financial advisor, or somebody that's smartened finances that you
know and ask them what to do. I'm not going
to give out financial advice, but banks traditionally only ensure
(00:41):
up to two hundred and fifty thousand dollars. A lot
of people that have more money, they'll put two hundred
and forty thousand in this bank, two hundred and thirty
thousand in that bank, and then each individual accountant is
then therefore ensured at a different bank. Not really good
news as it relates to the four biggest banks. Now,
this Silicon Valley Bank was what the sixteenth largest bank
(01:05):
in the country, but the four biggest US banks. They
lost a lot of money fifty two billion dollars of
market value as part of this, you know, broad route
of across the financial stocks. A lot of banks, smaller
banks are seeing massive losses in terms of their stock prices, etc. Etc.
(01:27):
I'll give you one example. JP Morgan lost about twenty
two billion in market value. Bank of America lost roughly
sixteen billion. Wells Fargo their capitalization was down ten billion,
City Bank down four billion. Now that these are banks
that are you know, are going to be safer and
more secure, etcetera, etcetera. But you know, when you look
(01:49):
at the data and the failed bank list, it's beginning
to grow. I mean, you have a signature bank. Remember
Barney Frank Dodd Frank Legislation. That's where he was on
the board of He's the one that was advocating and
lobbying for this regulation change that clearly would have benefited
(02:09):
the bank that he had a relationship with. Now we
got the Silicon Valley Bank and their funds, and there's
a whole list. If you look at the FDIC and
their failed bank list, a list of banks that have
failed since October of two thousand, it's it's more than
you would think. That's what people who are most worried
(02:30):
about now is how deep is this going to be?
How far does this go? Um, There's going to be
a lot of investigation behind all of this. The New
York postout of peace out today. The primary beneficiaries of
Biden's Silicon Valley Bank bail out, what I call the
Biden billionaire bailout bank bailout, is our Democrats. When the
(02:54):
Silicon Valley Bank failed, Joe Biden decided to toss out
the rule book guarantee deposits that needed the FDIC's two
hundred and fifty thousand dollar maximum insurance limit. Now, every
everybody knows what that number is. That is not unknown,
that is that is widely known what that number is. Anyway,
So they decided to protect these deposits, lie to us
(03:18):
and say, oh, but the taxpayers, they're not going to
be on the hook for any of this. Okay, If
the taxpayers aren't going to be paying for this, then
tell me who is, Because at the end of the day,
it's going to be we, you, the American people, that
pay for these bailouts for billionaires, because that's what this is.
It's gonna it's gonna end up coming out of your pocket,
because where else would it possibly come from? Now? Is
(03:41):
it going to be a direct tax? Now? Are these
banks going to be forced through regulation to charge more
for services that you will pay? Probably? So that means
it's it's gonna be you that pays us. So that
infuriates me. They just flat out lie about all of
this stuff, and it just gets so frustrating on so
(04:04):
many levels. By the way, can I get a new
cutsheet in their guys if you don't mind anyway, So
back to the New York Post, the Biden administration to
do this, you know it, there's a lot of angry
people out there rightly so, because they're viewing this as
a gift to wealthy Democratic donors in the tech center,
even as mom and pop investors are getting burned in
(04:26):
this deal, and that the American taxpayer are going to
be on the hook for all of this. And this
is billions of dollars. This is a Biden you know,
billionaire bailout bill. And by the way, where is Congress
is input into this, it's a bailout. The account holders
they bailed out are Democrats. Quote one tech insider telling
(04:47):
the New York Post. Quote, Silicon Valley Bank is the
bank of Democrats. They're looking after their own. He added,
if it was the bank of MAGA, what are the
chances it would be bailed out. There's not a chance
in hell goes on. They saved the Democratic donors, but
who were the equity holders? The Tech Insider noted, quote,
retirement funds brought into this many or policeman, teachers, firemen
(05:10):
just trying to retire. And meanwhile the equity bond holders
were completely wiped out as part of the rescue by
state regulators and the FDIC. And those included big mutual
funds that operate in retirement funds for working Americans. Vanguard
Group owned what nearly eleven percent of Silicon Valley Bank shares.
(05:31):
Electric Pension Insurance Mutual owned nearly four point five percent,
Franklin Mutual Advisors owned nearly two percent. You know, the
Wall Street Journal, as they pointed out in an op
ed yesterday, argue that instead of hedging for financial risks,
that Silicon Valley Bank's real hedge was to curry favor
with the Biden administration. And then, you know, we noted
(05:54):
yesterday they had committed you know, the bank released their
ESG reports stating they had committed five billion dollars towards
sustainable finance and carbon neutral operations to support a healthier planet.
Will that ought not be a consideration in the banking business. Moody's,
by the way, in a really harsh blow to a
(06:15):
reeling industry, Moody's Investor Services has now cut its view
on the entire banking system to negative from being stable.
The firm, part of three big rating services, said yesterday
that they're making the move in light of the bank
failures that prompted regulators to step in on Sunday with
the dramatic rescue plan for depositors and other institutions impacted
(06:40):
by the crisis. We have changed to negative from our
stable outlook on the US banking system to reflect the
rapid deterioration in the operating environment following deposit runs at
Silicon Valley Bank, Silver Gate Bank, Signature Bank, and the
failures of SVB and SNA. According to Moody's report, Now
(07:03):
you really can't you know, you can't blame Moody's for
being honest, which is more than you're getting from a
lot of other people these days. You know, but don't
worry if you're a Democrat. COVID is Trump's fault. Bank
failures that's Donald Trump's fault. Train derailments are Trump's fault.
Gas prices are Trump's fault. Afghanistan was Trump's fault. The
(07:23):
border is Trump's fault, The deficit is Trump's fault. Inflation
is Trump's fault. Ukraine is It's all Trump's fault. So,
you know, this is the Biden billionaire bailout debacle has begun.
And you know, now the question is will this become
a contagion as they call, will this spread? How far
will this go? Because you know, what really frustrates me
(07:47):
is that there were some really really smart people that
do their job the due diligence that you'd expect, especially
when it comes to money and banking, etc. You know,
we do know that in November, JP Morgan did a
full complete analysis on this bank and predicted this very
thing was likely going to happen. Now that's interesting, especially
(08:11):
in light of the fact that the Justice Department and
the Security and Exchange Commission now are now investigating the collapse.
How did this possibly happen? They're investigating the collapse of
these banks the investigations are examining stocks sales. Now. I
didn't like the fact that two weeks prior to this failure,
I guess the president of some high ranking official at
(08:34):
this bank cashed in three and a half million in
stock the day that the FDIC took over the bank
on Friday. That day, everybody got their bonuses just before
the bank was taken over. The night before they had
a big party at a big steakhouse. I didn't like
that part either. Again, I'll go back to JP Morgan
(08:55):
warning in November that Silicon Valley Bank sixteen billion dollars
unrealized law could pose a very serious risk. They now
release their troubling research after holding a deep dive of
webinar with the Silicon Valley Bank CFO. You know, should
the balance of deposits outflows inflows persist for longer than expected?
(09:18):
Another topic they discussed, you know, the risk that SVB
will need to sell underwater held to maturity securities and
realize losses. What we were talking about is what I
have been trying to explain, and that is that as
a result of Biden, Biden's economic and energy policies that
(09:40):
have caused a forty year high of inflation that has
resulted in the FED rapidly raising interest rates, dramatically raising
interest rates the likes of which we haven't seen in
two decades. Well, this particular bank mortgage backed securities, treasury,
but they're talking, we're talking about ten year of treasury bonds.
(10:03):
So all of a sudden, now the depositors want their
money back, and the only way they can get it
is to sell their treasuries at what is a huge,
huge loss, you know. So you have all these banks
now collapsing. Two dozen other banks forced to halt trading
yesterday amid the panic. I don't know how many still
are are not trading today. First Republic Bank, their stock
(10:28):
plummeted sixty percent. One hundred billion dollars was wiped out
in a single day. And at the core of all
of this it's Biden's economic and energy policies. Remember he
inherited a very low one point four percent inflation rate,
and then he you know, inflation started a rise very
rapidly and then as high as nine point one percent,
(10:51):
but we were told it was transitory, wasn't gonna last,
you know, and then of course he drove you know,
the energy crisis was created because of Biden's resistance while
his adherence to the climate alarmist cult and Joe Biden's
resistance to producing energy domestically. He'd rather import oil from Venezuela,
(11:12):
which makes no sense at all anyway. So that had
an impact on inflation, That had an impact on the economy,
and as a result, it was anything but transitory. What
you have seventeen hundred percent increase in interest rates. So
you have the first financial institution to fail, Silicon Valley Bank.
(11:33):
Their holdings were in treasuries and mortgage securities and they
were hit hard by the Fed's aggressive interest rate hikes
caused by Biden inflation and Biden economics. And that still
remains uncomfortably high of new data today. But you know, Biden,
it's not his faulty blames Donald Trump. You know, if
he's had two years, especially the first two years he
(11:55):
had control of Congress, he wanted to have changed these
regulations to whatever he wanted to change him He had
every chance to do it. So stop blaming Trump for everything.
Dog bites, beast things, your feeling said, Stop blaming Trump.
You know, by the way, many Democrats voted to ease
the restrictions being lobbied by the likes of Barney Frank.
(12:16):
Barney Frank himself lobbied and supported these regulatory rollbacks. He's
a board member at Signature Bank, the second financial institution
to collapse. That bill was changed. The bill that was
changed was the Dodd Frank bill or the Dodd Barney
Frank bill. So he's the one that changed his own bill,
So blame him. He wrote on CNBC in an op ed.
(12:40):
There's one legislative issue which I'm strongly supportive of, a
change that will benefit Signature Aden that he benefits, raising
the fifty billion dollar asset level of which a bank
becomes subject to extra supervision. So you got the you know,
former Democratic radical leftist Barney Frank, the co author of
Dodd Frank instrumental in removing the oversight at a bank
(13:04):
that has now collapsed. And we're supposed to believe this
is Donald Trump's fault. How much money Barney were being paid?
When are we going to find out that little nugget?
So as Joe Biden's policies, he sat around and did nothing.
By the way, experts were warning, JP Morgan was warning.
Other people saw this coming and all they get is
(13:28):
blame Trump. And now the question is is this going
to be a contagion? What is a contagion? Is this
going to spread to many banks around the country. Are
we going to have a real banking crisis. They might
be able to stave it off, They might be able
to stop it temporarily. How long is this? How many
other banks did what you know, Silicon Valley Bank did
(13:52):
and invested in long term treasuries not expecting this record increase,
these record increases in interest rates. And I don't I
don't have the answer to those questions. I don't want
to bring bad news. But there's a lot of things
happening internationally, foreign policy issues that I really are chilling
to me. The broker deal with China, the Saudis, the Iranians.
(14:16):
I'm not loving that China's president is gonna meet with
Vladimir Putin. I've been talking about this new you know,
access of evil if you will. It looks like it's
coming together. We had the recent incident, by the way,
the United States condemned the downing of a US spy
(14:37):
drone by a Russian fighter jet over the Black Sea.
This happened earlier today, and an incident that underscores how
the Ukraine War has now increased the risk of direct
confrontation with Moscow and Washington. He had two Russian jets
carried out what the US military described as a military
intercept of MQ nine Reaper. It's a drone international airspace.
(15:01):
One of them collided widget and flew in front of
the unmanned drone and unsafe maneuvers. Uh, what's Joe gonna
do about that? And what's Joe gonna do about this
new alliance with China and Russia and the new alliance
with the Saudist and Iranians. The reason the Iranians were
were with US in Israel and Jordan and the Emirates
(15:24):
and Egypt was to stop Iranian hegemony and hostility in
the region. If the Iranians get nukes, God help this world.
Driving the liberals nuts. Sean Hannity is back on the
radio right now, all right, twenty five nowntil the top
(15:48):
of the hour, eight nine, Shan is her number. As
we now dig deeper into this, this Biden billionaire banker bailout, know,
you begin to see a nexus, a criss cross, You
begin to see relationships emerge. Now who do. I always say,
(16:08):
makes this country great. The people of this country make
this country great. You listening to this show, make this
country great. The people that work hard, they're put in
their twelve, fourteen, sixteen hours, whatever it is every day.
The people that you know, get up every morning, make
their kids lunch, get him off to school, go out
to work. They pay their taxes, they obey the laws.
(16:31):
They love their country, and you know, exhaust themselves so
that they can provide for their families. They are the
people that make this country great. But then you've got
the elite. Now, if you listen to Democrats, if you
listen to Joe Biden, he has a monopoly on compassion
for the poor people, working class in this country. We've
(16:53):
all often and always talk about the forgotten men and
women in this country. And that's most of us, most
of you in this country. And that would meet and
everybody from the farmers to the truckers, to the carpenters,
to the plumbers, to the home builders, to the nurses,
to the doctors, to the lawyers. I mean, everybody's working
(17:15):
at Everybody that I know works their ass off. I
don't know anybody that doesn't. I don't know anybody that
works an eight hour day anymore, Linda, does anybody on
our team work an eight hour day that? I maybe?
I don't know of anybody. No bus, not a single one, No, no,
everybody's all all in all day. I buy lunch every
(17:37):
day from by radio team. I have a sinister motive.
I don't want them leaving their desk. We don't have time.
We have too much work to do, and news is
breaking up to the second we come on the air
works four hours a day. Maybe he's a good example
that But Ethan's right, that's a good example, one of
the rare ones. And it's the people. But then you
(17:59):
now discovered we have this you know, Biden billionaire bank bailout,
and what are we finding out? For example, this is
from the New York Post. One. What is the Hillary
Clinton mega donor who went to a Shinto shrine to
pray after Donald Trump won the White House? An other
work for President Barack Obama before her own political career
(18:19):
spectacularly failed. A third is a prolific contributor to Democrats,
including Nancy Pelosi, who owns a Napa Valley vineyard just
fifteen minutes from the former House Speakers there's even an
improv performer twelve directors who are supposed to oversee the
fallen Silicon Bank and prevent catastrophic errors that through the
(18:42):
entire banking system into jeopardy where it remains today. That
started on Friday. They may not be household names, but
the headline in the New York Post is Obama official,
Hillary Donors, improv actor meet the Silicon Valley Bank Board
of directors. Anyway, so they found out in a New
(19:02):
York Post investigation, you know that they're facing a serious
a series of investigations into their collective role into this collapse.
You know, only one independent directors under sixty the oldest
to seventy eight. But these contributors went hand in hand
with the bank's business model. Everyone knew it was the
(19:22):
go to bank for the woke CEOs, according to one
source telling the New York Post, they knew they were
aligned politically. The companies SVB loan money to all, had
a woke agenda. Svb B had a five billion dollar
commitment to woke. You know, and these are the people
(19:44):
now that are getting bailed out by their friendly politicians.
When we get when we finally get to the bottom
line and how much money would was donated. I guarantee
you it's gonna be massive sums of money. We're getting
some trickling in data right now. Also from the New
York Posts, Silicon Valley Bank, Signature Bank, and Credit Credit
(20:08):
Suisse donated one point two million dollars to Democrats since
twenty seventeen. That's a lot of money. The banks, through
their employees and affiliated packs, donated nearly one point two
million to Democrats between twenty seventeen and twenty twenty two.
According to the government transparency group Open Secrets, Republican candidates
(20:29):
got less than seven hundred fifty thousand dollars. All three
banks spent big to defeat Donald Trump in twenty twenty,
collectively giving one hundred ninety eight thousand to Joe Biden's
presidential campaign. SVB, Signature Bank, Credi Swiss joined jointly gave
seventeen thousand, five hundred ninety seven dollars to Trump and
(20:50):
five thousand, five hundred and sixteen to his upstart run
in twenty sixteen, and since then, you know, ninety thousand
dollars to Democratic National Committee in tens of thousands to
individual Senate campaigns like Chucky Schumer and Mark Warner and
Joe Mansion and John Tester and Mark Kelly. And Tester
was seeing Monday night rubbing elbows with partners at svb's
(21:14):
law firm during a posh Polo, I'm sorry, Paolo Alto fundraiser.
I'm Polo, sorry, Polo, it says Polo actually in front
of me. But whatever, But you get my point. By
the way, Gavin Newsom shouldn't shock you here either. The
intercept reporting cheering Silicon Valley Bank bailout, Gavin Newsom didn't
(21:35):
mention he is a client. At least three of the
California governor's wine companies are held by SVB, and a
bank president sits on the board of his wife's charity. Anyway,
So Gavin Newsom praising the Biden administration and their decision
to intervene on behalf of this bank SVB clients after
(21:56):
the bank was taken over by the FDIC on Friday,
admit a bank run the White House acted swiftly and
decisively to protect the American economy and strengthen public competence
in our banking system. Nussen said in a statement. What
Newsom didn't mention is that it also protected his own
companies if they held over two hundred and fifty thousand
(22:17):
dollars in deposits. Considering he owns a winery, I would
assume that he probably does. I don't know, just a guess,
A professional guess on my part. He didn't mention that
his wife's professional ties to the bank. Silicon Valley Bank
gave a hundred thousand dollars to the charity founded by
his wife. You know, I mean it's you've got these
(22:40):
ancestuous relationships here. I mean, it's unbelievable. Yesterday we told
you about New York Post editorial Biden is forced to
bail out a banking system and his donors that he endangered.
I mean, there's always a nexus here. There's always a
story behind the story here. And the bottom line, you know,
Joe Biden can go out there like he did. I'll
(23:02):
play it for you. No losses will be borne by
taxpayers over bank closures. Listen, all customers who had deposits
in these banks can rest assured. I'm gonna rest assured
they'll be protected and they'll have access to their money
as of today. That includes small businesses across the country
that bank there and need to make payroll, pay their
(23:24):
bills and stay open for business. No losses will be
in iman. This is an important point. No losses will
be borne by the taxpayers. I mean to repeat that,
no losses will be born by the taxpayers. Instead, the
money will come from the fees at banks paying to
the deposit insurance fund. Who pays the fees? You do?
(23:46):
You the American people, and those fees are going to
be on every bank. You know, pensions, pension funds lost
millions of dollars in the Silicon Valley Bank collapse. Did
you know that The Washington Examiner pointed out very pension
funds invested in Silicon Valley Bank have lost millions in
the aftermath of the collapse. Now, I guess that they're
(24:06):
going to be protected, But I mean, what happens if
this gets bigger financial ratings, giant downgrades the system. I
told you about Moody's. Primary beneficiaries of the Silicon Valley
Bank bailout or the Biden billionaire bank bailout are liberal Democrats,
you know, So the billionaire bailout debate begins. Now these
(24:28):
are the same people. We're not going to tax people
that make under four hundred thousand dollars a year. Oh okay,
but they're raising taxes on oil, gas, and coal. Well
that's a tax on every American, and nobody calls him
out on it. George Herbert Walker Bush read my lips.
No new taxes. Boy, they rammed that down his throat
when they got him to break his own promise. How
(24:51):
is it that Joe Biden isn't held accountable for wanting
to raise taxes on pensions, oil, gas, coal, and corporations.
Corporations aren't paying those taxes. How many times do I
need to tell you? By the way, the key inflation numbers,
prices are still out of control. It's hard to believe
inflation six percent when the prices of so many everyday
(25:12):
staples have increased anywhere by thirteen to fifty five percent
in the last year. I doubt we're even getting the
right numbers from them. Biden's inflation is now just four
times as high as it was under Donald Trump. Oh,
we're really making progress. Congratulate Joe Biden on the you know,
four tenths of one percent drop and inflation. Gee, we
ought to be so happy. And what is the Biden agenda,
(25:36):
Biden administration's agenda, or they're going after your gas ranges
and now they're going after washing machines. Apparently last month,
Biden's Department of Energy proposed new efficiency standards for washing
machines that requires new appliances to use considerably less water,
all in an effort to confront global climate crisis. Look
(25:56):
at his look look at his budget and what the
budget calls for. How many you know, billions and billions
and billions of dollars are they spending on this new deal?
A socialist madness, this climate alarm at cultist madness, because
that's what it is. It's insanity. Never mind the fact
(26:17):
you know, economically, you know, look at this country. I
don't know how bad this bank crisis is going to be.
I'm expecting it to get worse. I'm hoping it doesn't.
I don't want to see this country deteriorate any further
than it has. You know, the border crisis is you know,
that was all preventable. The energy crisis was preventable. We
(26:40):
should be the most energy dominant country on the face
of the earth. You know, last year Saudi Arabia made
trillions of dollars and right now with Vladimir Putin shutting
off the spicket in terms of energy to Western Europe,
we should be filling that void. Then we would be
an energy rich nation. It's good for our national security,
(27:03):
it's good for you know, career jobs, high paying career
jobs for Americans. It's it's good for our allies. They're
not dependent on a hostile regime with a hostile actor.
You know, well, the Biden administration condemned the shooting down
of a US military drone, obviously hostile. Putin doesn't think
(27:24):
there's gonna be any repercussions for this. That's why he
did it. China now is going to meet with you know, Putin,
and then he might call Zalinsky. Okay, he's gonna negotiate
with Zalinsky if you give this land, this land and
this land. And I'll tell you why people's support for
(27:46):
Ukraine is waning thin. And it's the reason is they're
not fighting the war to win the war. The reason
is Biden's talking about how it might go on another
three some odd years. That means, you know, we're now
talking about Afghanistan two point zero. It says, if we
didn't learn anything from these experiences President Cheese meeting Putin
(28:09):
in Moscow. That shouldn't concern us. The Iranians aligning with
the Saudis, breaking off of a real solid coalition of
the US, Israel, the Saudis, the Egyptians, the Jordanians, the Emirates.
Are you kidding me? You think this is good for
the world. China is building their relationship with Iran, and
(28:30):
Russia is building their relationship with Iran. You think any
of these countries like the United States of America, No,
they do not. This This is a clear and present danger.
And by the way, do you think it's a little
embarrassing that the Mexican president, Mexico's president, is saying that
Mexico is safer than the US after the American tourists kidnappings.
(28:54):
But what is he looking at? Well, he's looking at
Chicago and Los Angeles and New York and the idiocy
of Nobel laws and the stupidity of defund dismantled the police.
It's sad, but you can make an argument he's not
that far off. Do I believe that Mexico is safer? No,
I do not, But I do believe that our cities
(29:18):
and towns are far less safe because a democratic madness.
Key inflation numbers are now showing prices are still way
out of control. You know, and you know, and they
want washing machine rules and gas stow of rules. This
is where their their heads at. It's unbelievable. Oh and
(29:40):
by the way, on COVID, you're gonna love this news.
It turns out US government agencies they may have doubled
build for projects in Wuhan, according to records, indicating, in
other words, the US is possibly possibly scammed out of
tens of millions by the Wuhan Virology Lab. Not only
did you pay for it, you got robbed on top
(30:02):
of the free money that they gave them that they
never should have given them in the first place. That's
news today too. Joe Biden's woke Navy wants to boost
their budget to fight climate change. This is in biz
Pack Review. I can't believe this is what we're talking about,
but it goes on. Navy wants Congress to fund an
additional three ninety seven million in climate change resiliency programs
(30:24):
in twenty twenty four, including money for electric cars solo
micro grids, according to budget plans revealed Monday, and if
Congress grants the funding. Total Navy Marine Corps spending on
climate related programs in fiscal year twenty twenty four is
gonna be one point four seven billion dollars. Why climate
(30:45):
change with the military? Are you out of your mind?
Do you not see the hypersonic missiles that China and
Russia are showing off? Are you not watching Little Rocketman
is back in business? Are you're not reading it that
the Iranians potentially have nuclear capability? Now this is a mess,
(31:10):
entire screwed up mess. The border. Everything this guy touches
as a disaster. Republicans better wake up, get over your resistance,
your reluctance as it relates to, you know, issues of
voting early and by mail and whatever the law your
state is that the Democrats are doing legally with ballot harvesting.
(31:34):
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can't go wrong, frankly, with any one of them. Every
one of mine accurate right out of a box. Anyway.
Go to Henry USA dot com. When you go there,
get a free catalog, free decals, and a list of
dealers where you are. The Sean Hannity Show, empowered by
(32:44):
American capitalism and never government subsidized. Sean Hannity is on
right now, All right, will we come back? Our economic experts,
Steve Moore and David Monson will join us. We'll get
an update, We'll get their thoughts on the banking crisis
(33:06):
or Biden's billionaire bank bailout. Also, we have Joe Takapina
coming up. Reports abound pretty much everywhere, an expected indictment
of Donald Trump in New York over the Stormy Daniels thing.
What law is it? We'll ask Joe Takapina. Maybe he knows,
because I can't figure it out. Our friend Benjamin Hall,
my friend and colleague from the Fox News Channel one
(33:28):
year ago today, is severely injured in Ukraine. He's gonna
tell us his harrowing story, and an inspirational one at
that
The Sean Hannity Show News
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