00:00I'm going to ask Congress and the banking regulators to strengthen the rules for banks
00:04to make it less likely this kind of bank failure would happen again
00:07and to protect American jobs and small businesses
00:10when no losses will be borne by the taxpayers.
00:13Let me repeat that. No losses will be borne by the taxpayers.
00:17Instead, the money will come from the fees that banks pay into the deposit insurance fund.
00:23The management of these banks will be fired.
00:25If the bank is taken over by FDIC, the people running the bank should not work there anymore.
00:32Investors in the banks will not be protected.
00:35They knowingly took a risk, and when the risk didn't pay off, investors lose their money.
00:41That's how capitalism works.
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