The Fed's Backstopping of the Banking System

It's an interesting situation because it's not really a bailout. Because, you know, shareholders still will still lose and bondholders will still lose. And the thing is that it's notreally an issue of credit quality either. It's not as if Silicon Valley Bank thought they had all this value in assets and it's worthless like it was in the GFC or these,. All these mortgage backed securities that work completely worthless. So the assets are there. They're just not liquid.