Is My Money Safe?

The government stepped in and said, we will ensure all of those deposits but no losses will be borne by the taxpayers. The Federal Reserve created a new facility, lending facilities, it's called. So if you're one of these banks with long-term safe but long-term treasuries and you need to sell them at a loss, you can now go to the Fed for help. I think it worked. I'll tell you, there are fundamentals in banking which are solid. There is strain. But it's the fear that was the big problem and how quickly it spread. We hadn't seen it spread like that.