Biden promises taxpayers won't pay for failed banks; Signs off on Alaska drilling project, angering far left

From the Fox News Radio Studios in Midtown Manhattan, it's the fastest growing radio talk show. Brian Kilmead. Hi, everyone. Welcome to the latest moments of the Brian Killmeat Show. We'll follow all the breaking news as it relates to your money, your dollars, your cents, and where the economy's going.

We'll be sure to do that, as well as take your calls: 1-866-408-7669. A lot to discuss, President of the United States.

Well, let me see. What is going on today that's exciting? That's not necessarily in the news. The president will be discussing efforts to reduce gun violence. Isn't that every day?

He's going to be doing that over in California. Then he's going to be going over to Las Vegas a little bit later, participating in a reception for the DNC.

So, this guy's running again, just hasn't made it official. But man, if these banks, if this ends up being a run of the banks, that'll be that could change everything politically for all contenders.

So let's get to the big three.

Now with the stories you need to know, it's Brian's big three, sponsored by Crunch Fitness. Interested in owning your own business in a growing $30 billion industry? Check out CrunchFitness at Crunch.com. Number three. The House Oversight Committee subpoenaed Bank of America for more than a decade of financial records belonging to three of Hunter Biden's business associates.

That venture hoped to form a partnership with CEFC, a Chinese energy company. Yes, here you go. Hunter under new scrutiny as more Chinese millions turn up in his account and allegedly in Joe's oops. Dems, of course, are in denial and cry foul. Number two.

I guarantee you, I guarantee you, we're going to end fossil fuel and I am not going to cooperate with them. No more drilling on federal lands. No more drilling, including offshore. No ability for the oil industry to continue to drill. All right, that was the old Joe.

Term oil, get it? Desperate to save his reelection, President Biden's green lights, the Willow Project in Alaska, kinda. And this action has been an ultra-green effort going bonkers. His ultra-green left, I should say, going bonkers. I won't buy it until I hear the drill go into the ground.

But for the most part, he's saying, get ready, Luconoco. You can start working and getting 180,000 barrels of oil from that land, which is America. Number one. And you can't let companies think that when they screw up, it don't matter because the government's going to save you because then you're going to get rampant inflation and your currency is going to go to hell. Yeah, how bad can it get?

Could be looking at a regional bank run as New York Signature Bank and Silicon Valley Bank go down. Question is, how are we on the hook for and how much more is there to follow? More importantly, why does President Biden always blame Trump? And like with his toxic train, like with the balloon, he's flat out wrong to blame the previous administration. You don't like Trump, that's fine.

But by the way, terrible leadership, whatever you do in life. You got a leak. You don't say, well, the previous owners here to figure it. It doesn't matter. Fix the leak.

And then maybe in a 60-minute softball interview, you say, well, that was the previous administration. But you'd be wrong on that, too.

So, what's he talking about? There was a financial rollback that stopped some of the regulations with regional banks because the stress tests they were putting the big four banks under were not fair for the regional banks. Who thought that? Barney Frank from Dodd-Frank. He said it was an arbitrary number.

You can lessen the stress test.

So the regional bank that fell was CSVP. The other one is New York Signature Bank. Guess who was on the board there? Barney Frank from Dodd-Frank, 82 years old now, still looking to make millions. He said the bank could have been saved.

Some other things that we start the day at that's got our investors disturbed: the KBW Bank Index over in the West Coast. That lost 12%. First Republic is down 60%. Western Alliance down 45%. Shares at PacWest down 60%.

Silvergame Bank Crypto has been shut down.

So if you're in crypto or you're counting on low interest rates, you're in the wrong business and you're about to crash. But here's President Biden just saying: oh, by the way, this is Trump's fault. Cut three. During the Obama-Biden administration, we put in place tough requirements on banks like Silicon Valley Bank and Signature Bank. Including the Dodd-Frank law to make sure that the crisis we saw in 2008 would not happen again.

Unfortunately, The last administration rolled back some of these requirements. I'm going to ask Congress and the banking regulators to strengthen the rules for banks to make it less likely this kind of bank failure would happen again. Right.

So let's just say that if the regulations were in place during the Obama years, this wouldn't have happened wrong. This is all about upping the interest rate.

So if you want to say I don't want to create an environment where there's saturated spending causing the value of the dollar, causing inflation to go up, causing interest rates to go up to control inflation, that might be more accurate. But I don't want to slow you down. Kevin Hasse couldn't believe it. He was a finance advisor to President Trump twice. Cut for it.

They came out and they blamed the Dodd-Frank rollback, which was a bipartisan bill in 2018. But Barney Frank was on the board of Signature Bank, and Barney Frank came out today and said there's no way that 2018 law had anything to do with it. Right, no kidding, but let's just keep blaming them. Why do we know that?

Well, we know that for sure. There were 17 other Senate Democrats who looked at this whole thing, including Senator Mark Warner. He has no regrets. I watched him on Sundays. I have no regrets about that.

When you have a CEO say, wow, if the interest rates keep going up, I'm not going to be able to satisfy my customers. Should there be a run on the bank, he cashes out his shares, he gets $3.4 million and then watches his bank collapse. You're going to blame Trump for that? That is not, I mean, in 20, this is going to make Trump look better in the long run. He does not sweat this stuff.

Larry Kudlow was there. He's angry. Cut five. This was a cheap shot by Biden. This had nothing to do with Trump regulations or anything like that.

We had the head Federal Reserve regulator on our show who said the same thing. This is a liquidity problem. It wasn't a regulatory problem. It wasn't a bank capital problem. In fact, the best part of this story, potentially, is that the banking system is very well capitalized, quite unlike 15 years ago.

So they say they have $100 billion to pay back, but the worry is this.

So we are entitled to, as depositors, $250,000 back FDIC insured, okay?

So if you are lucky enough to have more money than that, or you have a fund and you bank, take that fund's money, my money, your money, your personal wealth advisor, whoever it might be, and if collectively you have more than $250,000 and the bank collapses, you're supposed to be out of luck. You decided to leave your money in that bank knowing what the threshold is.

So, as bad as I feel for everybody, the thing I'm worried about is if all these regional banks fail, how could President Biden let them all fail? He's going to say, well, I can't pick winners and losers. They're all going to get money.

So it's going to go over way over the $100 billion that these banks set aside for something like this to happen.

So it's a bad precedent.

Now, if these regionals start falling, this is where we're going to go. Carl Icon knows this. He was out with Neil last night. The audio is not great, but he is. Cut nine.

The problem in this system is right now That we Issued too much capital, very simply. The balance sheet of the Fed. Went up like $7 trillion or a number like that. You look at that and say The Fed is not telling you, we sort of get to get it back. It's like you gave your kids all this money and they went out and bought things foolishly.

And then I'll get to that.

So not only do you have this problem, many companies are run by people. that are not qualified to run them. or don't care. In other words, they they look at they have different agendas. Which is nuts, right?

Just crazy.

So, people are going to demand to see what's going on, also. You just wonder. What were they thinking on the board there? When you get on these bank boards, don't you have to do anything? Don't you feel responsible at all for the people depositing?

Isn't your name released to all the shareholders in the bank and all those anyone who wants to go online and find out who's running banks before you go into Republic or Citibank or JPMorgan Chase? I mean, this is your record too.

So if you're not qualified, don't take the job. Just incredible.

So that's what's going on. The other thing is, and I think it's important, when it comes to energy, Joe Biden greenlighted the Willow Project, and he should.

So he said, okay, this massive oil drilling project, he said the Department of Interior approved three of the five drilling sites proposed by the oil company ConocoPhillips as part of the Willow Project in the National Petroleum Reserve in Alaska, right? Conoco previously stated that for the project to remain economically viable, the federal government would need to approve at least three of the sites, and they did just that. At the same time, this Houston based company also agreed to forfeit about sixty eight thousand acres of drilling rice that it owns for a separate project. The Willow Project could produce up to one hundred eighty thousand barrels a day. And more should be repronized too.

Joe Manchin's happy about it, right? Responsible development of our abundant natural resources is essential if we are to maintain our status as a superpower capable of supporting our allies and around the globe. While torturous nearly the five-year process it took to get the final approval is proof that permitting reform is needed more than ever. And that's what. Manchin wanted to do permitting reform.

I just think it was a stop sign.

So, all the left is so upset. Congressman Bowman said, young people who put Biden into office, this is about their number one issue. If they stay home in 2024, we lose the election. That's so true. Rashida Talib, the despicable Freedom Caucus member, pledged to end new drilling on federal land.

This disastrous decision to approve Willow Project in Alaska is one of the largest oil development projects in decades. It will have its devastating consequence on our planet. Yes, you'll have decent oil and gas, and you wouldn't ask Saudi Arabia to drill for it. Will you step into reality, please, all you people? It's who we're buying it from, not whether we buy it or not.

So, Lieutenant Colonel Alan West next, then Brett Baer at the bottom of the hour. We will discuss 2024. Donald Trump, a massive crowd yesterday in Iowa. Educating, entertaining, enlightening. You're with Brian Kilmead.

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Subscribe and listen now by going to FoxnewsPodcasts.com. The fastest three hours in radio. You're with Brian Kilmead. We're gonna need fossil fuels for at least the next ten years. It's not like tomorrow we can turn it all off.

Number one. And so, in addition to that, things got really complicated when Uh Putin put 185,000 forces into Ukraine.

So here you go, the President of the United States sitting down with the daily show with a rotating host. And keep walking away from the general media, that's great.

So he says, well, why? That's why I opened up Willow Bay 180,000 barrels in theory when they got rolling in a couple of years. That's why I greenlighted it, because he says we need it for 10 years. We're going to need it for a lot more than that. Don't you think?

As we bring in Lieutenant Colonel Alan West, who is the American Constitutional Rights Union Executive Director, Colonel, he thinks we're only going to have it for 10 years? Yeah. That's pretty short-sighted. It's good to be with you, Brian. And remember, this is the president who said that he was going to get rid of fossil fuels.

He was going to destroy it. He said that. In one of his debates with President Trump, and he has followed up with that. And even though he has quote unquote opened up Willow Bay, I think he has only opened up three of the five sites that they had wanted. And then, on top of that, his leftist environmental, you know, his squad, they're going to seek lawsuits and injunctions against it opening up.

So they really don't want us to be energy independent. They really want us to go toward an unreliable source of energy when oil and natural gas are very profitable for the United States of America. And furthermore, it helps us to undermine people like Vladimir Putin and Iran.

So here is Governor Dunleavy of Alaska on He knows is the glass is more, at least it's rolling, Cut 21. Hey, you win Willow, which was a no-brainer, and in exchange, like you said, Larry, basically the future shut down. It's interesting because Willow, once again, is only 500 acres of the 16 million acres of this petroleum reserve. And again, Larry, it's a petroleum reserve, not a park, not a monument, not a refuge. It was designated for that very purpose, for oil, which is what we're trying to do.

But yes, you're right. Offshore is going to be closed down. 16 million acres will be taken off the table. Quite frankly, we don't know where the authority to do that comes from, just like we knew that in Anwar, in the bill that was passed in 2017, they didn't have the authority to limit the activity up in Anwar as well.

So this is just the administration's like the gift that just keeps on giving. I mean, yeah, it's wh why did Ann Mark get stopped? It was in the tax reform package. He just said, No, we're not going to do that.

So we'll see. I don't believe until the drill's actually in the ground. Yeah, you're absolutely right. And so he may be saying this, but wink, wink, nod, nod. I'm going to do everything that I can behind the scenes, just the same as you keep hearing the same old story.

There are more permits and more lands have been opening up, but it's all the rules and regulations that they put in place that prevent you from being able to go out and do what is necessary to exploit those reserves and resources that we have. And again, make us energy independent. That is the most important thing that we can have on this front. With that one, at least this helps on that front. Let's go fast forward to the border.

A thousand Venezuelans stormed the border over the weekend. They said it might have been misinformation that came from the cartels. It looks like the Border Patrol is ready for the challenge. But, man, if you want to make your case to the American people, that's how not to make your case. Yes, you're absolutely right.

And the fact that you had Corrine Jean Pierre come out and once again, without her binder, she was starting to talk about how the policies of the previous administration, the policies of the previous administration, they're failing on the border. And when you have one thousand people that can bum rush Border, the United States of America, like that, come across that bridge in El Paso. You know, what happened to that really clean and pristine El Paso that we saw when Joe Biden did his little drive-through visit on his way to Mexico a couple of months ago?

So, this is what is going on, and this is a port of entry. You know, it looks a whole lot worse in between ports of entry. Yeah, that's true. But you know, what's interesting, and I know this doesn't really necessarily with you in Texas resonate, but you understand the threat. The northern border is now a huge problem, and Governor Sununu now has to take action.

He's got to deal with this administration, and it's he's had almost no success getting through to Majorcas. Here's what he was saying yesterday about what he's seeing in the north, CUP 37. The northern sector is seeing 800% increase. It's real. We actually had a Mexican migrant die.

I think they had come over in Vermont and died because it is dangerous as well. We just want to help. We want to be there. We want whether it's returning the grant program, the Operation Stone Garden program. I'm asking Secretary of Mayorkas for an ICE delegation agreement, which basically says, look, we don't want your money.

Just let us help you do the job on the border. Empower my state police, my sheriff's. Yeah, can can I just get some yeah, can I get some help? What's your reaction? Because you know the Border Patrol is strong out.

I don't know how many people they can give 'em. North N get National Guard?

Well, there's not going to be any help. When you look at the president's budget, I think it only talks about a few hundred new border patrol agents as opposed to 87,000 IRS agents.

So this is their agenda, the open borders agenda, because they don't believe in the sovereignty of the United States of America and not going to do anything to fix it. But they will continue to tell us that the border is secure, even though you continue to see these tapes and this video of it not being. But that's not playing out on the Alphabet Soup media. I mean, what you are reporting, what Bill Melujin is doing down here in the border in Texas, what you just saw Governor Sununu refer to, that's not being reported on CNN, MSNDC, or any of these other places.

So you have a portion of this country that's being kept completely in the dark. Yeah, it's crazy. Lastly, real quick: the significance of China brokering some type of truce with Saudi Arabia and Iran. You just basically stopped the Abraham Accords in its tracks. Yeah, he did.

And so, once again, it's the basic law of physics: where there is a void, someone or something is going to fill it. And so, since we have retracted away from being a foreign policy leader, now China is asserting itself. And again, with that one belt, one road strategy, they're all about being the global hegemonic dominant power. And now they're brokering things between two definite adversaries, Saudi Arabia and Iran, because we're not doing anything. And also, they're having peace talks with Zelensky and Russia.

President Xi and Zelensky are going to speak. Jake Sullivan says, I'm really happy about that. Yes. And so instead, we've got President Biden sitting around and talking about how it's sinful to protect children from child butchery surgeries and mutilation. Oh, yeah, he was going to bat for transsexuals.

All right, there you go. Lieutenant Colonel Allen West, thanks so much, sir. My pleasure. Go get him, Brian. All right, stay within yourself.

Meanwhile, Brett Baer, chief political anchor of Fox News, he's going to be talking about what it was like being in New York last night doing his show. And I'm going to bring him inside 2024. Big crowd, Donald Trump. The talk show that's getting you talking. You're with Brian Kilmead.

But you have to remember, Ron was a disciple. A floor line. Always A rhino loser who currently is destroying Fox and Would constantly vote against entitlements. He would just vote against, remember that, the wheelchair over the cliffs, the Democrats. He used it, the wheelchair over the cliff commercial, very effective.

That was about him. But Ryan, Paul Ryan's a big reason that Mitt Romney, I'm not a big fan of Mitt Romney, lost his election. And to be honest with you, Ron reminds me a lot of Mitt Romney. I don't think you're going to be doing so well here, but we're going to find out. But those are the facts.

Wow. There you go.

So, you know, that was probably the most. I guess the longest rip on Governor DeSantis yet from Donald Trump, who actually tweeted in support and helped him get the nomination. I don't think anyone denies that. And then he became governor by about a point, and then he wins by 10. And now he's running for president.

It looks like he'll announce in May. And the president knows because in the recent polls, it's very close. Trump's up 40, 36 among overall for Republican voters, according to the CNN poll, and is tied at just about everywhere. And he's not officially in yet. Let's bring in Brett Baer, chief political anchor for Fox News, anchor special report that you hear every night at 6.

So, Brett, are you surprised the president, so far, President Trump has been kind of disciplined, and his numbers are going up in these early states, and that is his first direct hit at DeSantis, long hit about policy rather than just a mocking nickname? Yeah, good morning. You know, if I if I was to guess, I think the numbers are going up because he is was pretty disciplined and putting out policy things on Troke Tooth Social. Uh I'm not sure that The modern Republican Party is going to go for going after a popular governor who won by 20 points. and turned a state Pretty red, reliably red, in the last election.

We'll see. We'll see how it goes. I think You know, listen, the Republican Party Mm. There is a rift. You have to acknowledge in the long term that something has to be done.

With our fiscal situation to turn the aircraft carrier. We have to address it. Otherwise, the entitlements uh the Medicare, Social Security. Are not going to be there.

So you have to come up with ideas. Um and it doesn't have to impact people tomorrow, but it does if you talk to fiscally responsible Democrats and Republicans. they realize that eventually something has to be done.

So campaigning against ever doing anything seems like it's short-lived. And we'll see how much it plays. Obviously, it plays. uh in some elections better than others Uh but I think more and more people realize that We can't carry trillions and trillions and trillions in debt forever. Yeah, I think that's pretty key.

And how it relates to these regional banks struggling so much, we'll have to see because President Biden did a great thing. I don't know if you heard, he got up at 9 o'clock. Jen Saki cited that the president's a night owl.

So, this is how serious the banking thing is. He got up at 9 and was dressed by 9, Brad. Have you ever done that in your life? Oh, man. I thought that was an interesting soundbite from Jeff Sox.

She also said of Stephen Colbert that she needs MSNBC always tells the truth.

So there's that, too. That's always interesting to hear that perspective.

So when you look at what's going on with Ron DeSantis, by the way, Ron DeSantis is able to catch up with him on his Little League baseball field. The whole interview, 33 minutes, is a podcast now on BrianKilmeShow.com. Just click on that or wherever you get your podcast. The other thing is, we're seeing Donald Trump out there. We're seeing a lot of Ron DeSantis in both places.

And we're seeing him now going to New Hampshire soon. He went to Iowa the other day. He's been all through Florida. He came to Staten Island, went to Philadelphia. The other person that could be getting in the race is Chris Sununu, who's on the record saying Trump will not be the nominee.

Here's what he said yesterday to Jesse, Cup 34. My thing with the Republican Party, we need to make the party bigger. No matter who the candidate is, we got to bring independents back in. We got to bring the disenfranchised young voters back in. That's really my main focus right now.

And if it leads to a run for myself, so be it. But we need to make sure that no matter who the candidate is, we're winning in November of 24. We do not want a repeat of November 22. That was not good enough. It's not enough to get it done.

So we need to bring folks back.

So he's on the record, Hutchinson too, that Donald Trump will not get the nomination. But I think that if you look at the Emerson poll, you look at these other polls, he's actually gaining strength, Trump. Yeah, listen, I think you can't say that it's a a non-possibility. I think it's a different race and it's a different dynamic. And he's going to have to be the guy that he was at the end of 2016, where he stuck to the teleprompter, talked about policy, talked about things that he wanted to do for America.

I don't know if it's going to sell the shtick. This time. Maybe it will. I mean, there's a lot of people that line up to go see it. Um I I think that he is very formidable.

And when you get on the debate stage with Donald Trump, you don't know what's going to happen. And some of these people haven't been around the big leagues when it comes to these big time debates. He has. many times and done it successfully. All right, so and by the way, is the first one July?

I think the first one's going to be August. I think the I think the RNC is probably getting signals from at least one candidate they they want to push it back, but we'll see. I will will you be doing it, do you know? I don't know officially yet, but we aspire to. And I think We made pitches, as did every other network.

And I think they're going to make that decision very soon. All right.

So let's look at what's happened with our economy now. We know the consumer price index went up 0.4% already this morning, and we do know what's happened over the last two days. Two banks have gone belly up, two regional banks.

Some other ones like Silvergate, PacWest, and Republic, Western Alliance have all had significant losses. I know we have to scramble in times like this to find experts, even though there's no sure thing, almost like sports. You have people that are experts, but no one knows exactly where this is going. Do you sense where this is going, Brent? You know, talking to Larry Kudlow last night, and I think he has a good sense of things.

There's just a lot of angst. That it's not finished yet, and that because of Fed policy, that it's tight for some of these regional banks. And when you start saying that you're one hundred percent backed up.

Some of those banks take that as freewheeling. You know, that all of their deposits are backed up beyond $250,000, which is essentially what the Biden administration said.

So right now, it's not done by taxpayer money, but Kudlow and others still call it a bailout because of what they think might come. Yes, I also think this might be an opportunity for Vivek Ramaswamy to make some name for himself. He did really good on CNN on Sunday, and this is his area of expertise. He weighed in yesterday, cut thirteen. Even companies like Roku, that staggeringly had like over $480 million, that's unconscionable.

Yet, what we say is that's okay. You get to keep making those disastrous decisions.

Now, Tucker, the logic, and actually, many of these venture capitalists that invested in these companies had a perverse incentive to fearmonger and create the conditions for a bank run, because the more likely a bank run was, the more likely it was that they would get that bailout for those tech startups on Sunday night.

So, kudos to them for playing crony capitalism well. That's exactly what they got done. And we're seeing one pretty strong trend. When it comes to the border, they inherited a mess. When it comes to the balloons, they crossed during the Biden administration, during the Trump administration first.

Now, when it comes to the train derailment, that's because Trump loosened regulations. And when it comes to the regional banks, that's because Trump and seventy, and we should mention over ten Democrats voted to loosen some areas of regulations as it relates to regional banks. They have no problem blaming the previous administration. That it's not true. You know, Barney Frank of Dodd Frank.

Said it had nothing to do with that. um just you know a a day ago a couple days ago Um the train derailment, Washington Post gave him four Pinocchios. For saying that that was tied to Trump deregulation, it didn't have anything to do with that. The balloons. You know, there was no, uh, didn't make it up the chain of command to the fact that the balloons were there, even if they were.

So. You know, if you're going to go down that road, at least back it up. Um but I just I agree that I think that the leadership in that moment is not to look backwards. You know, to blame Trump. It's easy.

It's politically easy, but it just happens to be not true.

So you have eight hours to prepare for your show. Is that enough time? You know, a lot happens in eight hours. We rip up the rundown many times. I know you do.

Yes, in this computer world. Brett Baer, thanks so much. Great to see you. We'll see ya. All right, 1866-408-7669.

We're going to come back and take your calls. You have a lot to discuss. I did not bring up the new items that were found out from Bank of America as it relates to the Biden family. You're going to love this. You listen to the Brian Kill Me Show.

Don't move. Expanding your knowledge base. It's the Brian Kill Me Show. He's so busy, he'll make your head spin. It's Brian Killmead.

Two weeks ago, Sean, I subpoenaed A. Bank for records for three different. former Hunter Biden business associates. One of those associates in particular was Rob Walker. We got his account.

We confirmed that that account, around two months after Joe Biden left the office of vice president, received a $3 million wire from two individuals directly associated with the Chinese Communist Party. The very next day after that wire was received, the Walker account started transferring money into three different Biden family members' accounts, including a new. Biden family member that's never before been identified as someone being involved in the influence peddling scheme.

So we don't know who that is. He still didn't give it. He still didn't give out information about who it was.

So we have to just say it's got to be one of the sons or another brother, you would assume. It could be his sister, perhaps, but it's related to Joe Biden. Why is that a big deal? It's not about Hunter Biden. Even though everyone says, why are you beating up on the son, drug-addicted son, formerly drug-addicted son, I hope anyway, of Joe Biden.

It has nothing to do with that. It's trying to find out if Joe Biden has undue leverage on him from places like China and Russia and if it's influencing national policy. You would think that would come out during the election, but it was like no other election in 2020.

So meanwhile, there's opposition to even the investigation. The Treasury is not cooperating. Janet Yellen says, I don't understand why you need it. She was in the minority. She wouldn't get it.

Now they're in the majority. She says, I don't understand why you need it.

So here's more about what this Chinese energy company did and why they were invested in it. This is Brooks Singh. Doing the story this morning, cut 23. The House Oversight Committee subpoenaed Bank of America for more than a decade of financial records belonging to three of Hunter Biden's business associates. So far, we've learned the identity of one of those partners, Rob Walker.

Now, he worked with the president's son, brother, and two other business associates on a joint venture called Sinahawk Holdings. That venture hoped to form a partnership with CEFC, a Chinese energy company. Right, and that is when Bobolinski was involved with it. You just want to find out what the big guy was, and maybe the American voter would like to know if the big guy was lying when he was on that stage, in the debate stage, and said 51 American intelligence experts said this is Russian disinformation when you knew it was your son's laptop.

So you lied right there. Maybe you don't care.

Well, James, yeah, a lot of people doing his bidding. You had Jamie Raskin come out and says he's the ranking member. He said they may want to have his staff conduct another review of the records obtained by the committee. Excuse me. Here's what Raska said.

To justify the roving Congressional Inquisition into the affairs of at least one private American citizen, you have offered that Biden family members or their associates, including John Walker, formed a joint company called CEFC and China, a reference to the now bankrupt Chinese energy company. Despite his limited justification, you compelled the production and obtained thousands of pages of Mr. Walker's private financial information, including statements of his and his wife's joint checking account. I fear this wildly is overbroad subpoena suggests that your interest in this investigation is not in pursuit of defined facts or informed public legislation. The facts are totally different.

That was a ridiculous statement. And yeah, they look at Rob Walker, he's a business partner. That's what you do if you do an investigation.

So the Oversight Committee responded to Raskin this way. Ranking Member Raskin, he may want to have his staff conduct another review of the records obtained by the committee, as there are several quite notable developments that have been solidified the committee's understanding of several areas of concern and open new areas of investigation into the Biden family corruption.

So here's more from Comer, Cut26. This is very serious information that we've received, very troubling information. It does show a pattern that the Biden family was receiving money directly from China. And the question I have, Sean, is what were they doing in return for that money?

Now this is just one account. There are many more accounts and many more associates. But fortunately for us, we've had people, whistleblowers, that have been coming in. We knew pretty much which account to investigate. Fortunately, the bank did comply with our subpoenas.

Yeah, well, that's why. I mean, if Bobolinski is cooperating, he'll tell you exactly where to go. It was part of his account. If they weren't such idiots, they cut him out. But Bobolinski is such a patriot, got to know him a little bit, he would not put up for this.

If he thought Joe Biden was compromised by China, even if he was making billions of dollars, he would have stood up and said something. And also, Bobolinski is a guy who's a self-made multi-millionaire, West Point, Ivy League, Penn State grad who has a military background, military intelligence officer.

So there's a lot going on. There's a lot so-called there there.

So if you look at the problems Donald Trump's having, you're about paying off a would-be stripper that he may or may not have a relationship to back in 2016. You're living at $130,000. You're talking here about millions of dollars with another country. And you're telling me the stripper is more important in New York? We got to find out if a hush money was given.

A lot of times people come up if you're running for office, if you want to be a CEO, and people come up and accuse you of things, it's a way to get money, extort money. I don't know what happened. But also, if you're becoming president, you're in the final lap and all these things start happening, if you could put it to a close, you'd do it. Cohen took care of it. He got reimbursed by Trump.

You think that's a big deal? And you don't think the Hunter Biden thing's a big deal as it relates to Joe Biden with another country? I'm pretty sure Stormy Daniels isn't a prime minister of an enemy nation. Pretty sure. Not positive.

But we'll see.

So listen, if you look at some of the polls lately, and I discussed this with Brett, Ron DeSantis is a firm second, Nikki Haley third. I think Tim Scott's getting in this week. But the biggest story that's not been reported widely is the discipline of Donald Trump and the professionalism of his team so far. It has him in front. And I think it's got to be freaking out the field just a little bit as Tim Scott considers going in.

The problem Tim Scott's going to have. Him and Trump work well together, number one. Number two is. He's just a great person. And I feel when politics gets down and dirty, if there's anything that's ever.

with a state farm or all state, I forgot which company it was. If there's anything going on, like the Nofold Insurance was slow on a payment and all this stuff starts coming up, like it came up on Ben Carson, who is a brilliant brain surgeon born to an illiterate single parent family, and he becomes the elite brain surgeon in the world. They got negative stuff on Ben Corson. I worry about them doing it with Tim Scott because he's such an awesome guy. You listen to Brian Kilmey Show.

I'm so glad you're here. BrianKilmeetShow.com to get the complete interview: 33 minutes unedited of me and Governor Ron DeSantis. You will love it. From Hia Top Fox News Headquarters in New York. City.

Always seeking solutions, never sowing division. It's Brian Kilmead. Hi, everyone. This is the most approachable host in America coming to you from 48th and 6th in Midtown Manhattan. Heard around the country, heard around the world.

Thanks to all you guys, our family of affiliates continue to grow. Doug Collins is standing by, the latest in Georgia, and so much more. Susan Lee at the bottom of the hour to unwind what's happening with the market, with these regional banks, and with the decision yesterday to bail them out. No, I couldn't say bail them, but I'll be accurate. The FDIC money is going to be put towards the two banks that have gone under.

So the one hundred billion pot that the FDIC calls their which is their bank that is put in by banks is being put in to help depositors and get all their money back.

So I worry about the precedent being set. We'll discuss all that with Susan Lee, and then we'll do a simulcast with Varney and Company.

So let's get to the big three.

Now with the stories you need to know, it's Brian's big three. Number three. The House Oversight Committee subpoenaed Bank of America for more than a decade of financial records belonging to three of Hunter Biden's business associates. That venture hoped to form a partnership with CEFC, a Chinese energy company. There you go.

Brooke Syngman reporting the latest with Hunter Biden, the Biden family under scrutiny. They subpoenaed a whole bunch of bank records from Bank of America, and it doesn't look good for the Biden family as it relates to a Chinese-related communist government-related fund. Number two. I guarantee you, we're going to end fossil fuel, and I am not going to cooperate with them. No more drilling on federal lands.

No more drilling, including offshore. No ability for the oil industry to continue to drill. I'm going to sell all my drills. I'm going to even sell anything from Black and Decker. We don't even want anything like that.

Well, it turns out not true. Term oil, so to speak. Desperate to save his reelection, President Biden greenlights the Willow Project, which would put 180,000 barrels a day coming from Alaska, and the left has gone bonkers. Number one. And you can't let companies think that when they screw up, it don't matter 'cause the government's going to save you because then you're going to get rampant inflation and the currency is going to go to hell.

And that is Carl Icahn. He knows how bad can it get? Could be looking at a regional bank run as New York Signature Bank and Silicon Valley Bank go down. Question is: how much are we on the hook for and how many more to follow? How can you pick winners and losers from here?

Congressman Doug Collins joined us now, former ranking member of the U.S. House Judiciary Committee, author of the clock in the calendar. Congressman, welcome back. Hey, Brian, good to be with you. Hope all is well.

So we understand that these two banks are old depositors getting their money back, even if they had in the bank more than $250,000. Are you okay with that? Uh I get it, but I'm concerned because, look, this is a shell game being played. Understand something. FDIC is not going to be allowed to go.

Into trouble. The Congress and others are going to. This is the part that concerns me when you're taking and guaranteeing this, which I agree with all the discussion. The individual investors had nothing to do with the downfall here, and you got to hold it and supposedly going to hold the shareholders of the ones responsible. But if you look at this, if we're covering this, they're either going to increase the fees on the banks that they're having to pay into FDIC to make it up, and they basically already said that, which is going to be in turn, who's that going to be passed down to?

You and I and our local banks, because they're not going to pay it out of a good will heart, they're going to get it out of their customers. The other thing is, if those numbers grow to such a point, you know, and there's been already discussion about this, that Congress is going to be. They're going to be encouraged, or they're going to be at least lit into there to say, We're going to cover these, especially if for some reason, say we had two or three more. Go up because of stupid decisions that they're making on the board level.

So that's what concerns me at this point. How about the fact that the guy got $3.4 million worth of stock sales a couple of days before this whole thing collapsed? I mean, that's unbelievable. He knows this is going to come out, he doesn't even care. He knows it's going to come out.

My question is: you know, the one I've not heard from here, and I'm not, you know, there's investigations going on, of course, like that. But that right there, you know, as much as we've heard over time, Blind, think about how much insider trading, you know, stock trading, you know, they accused the former President Trump of this, they've accused everybody else. But, you know, That to me is blatant. You have knowledge, you sell it. You know, and I think if the FBI is not stepping in here at some point, that's going to be a real travesty.

So I want you to hear what President Biden did.

Now, think about this. He, of course, when the balloon went over the country and he let it go and he could have shot it down in Hawaii, where it is, he waved it off. He said, well, the same thing happened during the Trump years. They didn't even try. They didn't even bring it up.

And then when the train derailed, he said, well, Trump deregulated the braking system.

So Josh M. Post said that was not true. The balloon system, no one ever noticed it.

So we don't know where that came from. Nobody in the administration ever heard about it. No one ever consulted by it. And then you have the situation at the border. He said, well, he broke the border.

We inherited a mess. I don't think that. The numbers don't indicate that. And then he says this when these regional banks began to collapse, cut three. During the Obama-Biden administration, we put in place tough requirements on banks like Silicon Valley Bank and Signature Bank.

including the Dodd-Frank law to make sure that the crisis we saw in two thousand eight would not happen again. Unfortunately The last administration rolled back some of these requirements. I'm going to ask Congress and the banking regulators to strengthen the rules for banks to make it less likely this kind of bank failure would happen again. Is this unbelievable?

So the guy that uh uh Bernie Franks uh Said that this has nothing to do with it. He said that his bank could have been saved, and this was for a regional bank. You shouldn't hold the regional at the same length as you hold these huge banks.

So they wanted some relief, some regulatory relief, and they gave it to him. Nothing to do with this, but blame Trump. Exactly. Brian, you've got to realize by now, according to the Trump administration, and this may be breaking news here on your show, Donald Trump is responsible for the common gold.

Okay, I mean, everything. It's the only answer they have.

Okay, is they going back?

Well, it wasn't. I have a quick reminder for all your audience. The two thousand eight, coming out of that crisis, Obama and Biden were president and vice president through the strengthening in which they basically killed off our community banks. They stranglehold the community and regional banks to such a point to where it was very hard for people to get money resources. And what they did in turn with Dodd-Frank is made certain banks too big to fail.

In other words, there's five banks that instead of this idea that they're going to let them go, they said, no, these banks are just will never let them fail. This is the Biden legacy. Coming into this, though, you know, it's very hard to look at how they would blame Trump for going through these multiple kinds of failures because it just becomes so easy. And also, they're allowed the press just gives them a free pass on it. The one that I don't understand the most from the banking regulations, Barney Frank is, you know, knows this inside and out.

I mean, from he was at his time on the hill. He knows this is not right. He's called it out. But how many times have you heard her, for the most part, besides you and others, maybe on Fox, actually call this out on mainstream media? They're not.

Because the narrative is it's Trump's fault. As long as we stick with Trump's fault, nothing else matters. And, you know, look, this is when they make up crap. The balloon stuff is the one that got me, Brian. You remember when they said the administration, oh, the previous administration had this happen?

One, where did that leak come from? I mean, that's hugely probably classified information. How did it get out in the main? Who all of a sudden at the Pentagon decided, well, we need to leak something right quick. Then you had everybody from John Rackliffe to Bolton to everybody, even Bolton said, we didn't know about this.

And then they had to retract it quietly and saying, well, we may not have said anything. And then again, it's just left there. This is why Americans are so, so frustrated right now. Yeah, no doubt about it. By the way, the DOJ is going to be investigating an SVP Bank.

But this is what was in the New York Post today editorial. They say Team Biden encouraged retirement plan managers to use woke metrics for investments rather than seeking the best returns. The SVP listened. The bank committed some $5 billion to back sustainable finance and carbon-neutral operations in 2022. One of its rich management, Honchos, spent her time launching Pride Month celebrations at her employee rush towards the cliff's edge, as her employer, actually.

That the fact that many of these depositors are tech firms that overwhelmingly give to Democratic accounts for how swiftly Biden moved to aid them, those are the small businesses he vows to protect. The bailout will devour a massive piece of the FDIC insurance fund. The cost of replenishing it will fall on the other banks, and guess who pays for that? Average consumers via hikes in fees. That's just a little of the point of view that you're not going to hear anywhere else.

Oh, exactly. That's what we were talking about just a few minutes ago. Look, it's going to come the part that I've just amazed me about the modern Democratic Party is their absolute complete un misunderstanding of capitalism. It's just I mean it's just it's just staggering. I mean, you raise taxes on businesses.

What are the businesses going to do? Oh, well, we're going to just have the generosity out of heart, pay the extra taxes to the consumer. No, they're going to pass it on down the chain. That's why our system of taxes is so messed up in this country, as far as from a manufacturing potato. But they don't get it.

They believe that, oh, well, this is from somebody else's pocket, then it won't affect somebody else's pocket. No. There's nothing free, Brian. You know this. Everybody knows this, except The Democratic Party.

And to them, it's just a perpetual game. The concern here is, though, and let's take a step back here for a second. And I looked at this from Congress because there are several times from me, you've got debt ceiling coming up this year, you've got a lot of things that's going to shake the markets.

Okay. If people get really concerned and they do what they did, and SVB was terrible in the sense that they put in, I don't understand how they could have done this, put in most of their assets into long-term 10-year treasuries. I mean, are you kidding me? No one, if you want any liquidity at all, should do that. That's just stupid.

But if people start asking for their money out of these banks, especially when it gets down to the smaller regional and community banks, We could have a real problem here if people get panicked to the point of thinking their money's in trouble. You know, it's interesting, Congressman Collins. Is that I was with Harold Ford last night. He brought up a great point to me. I was on the five, and he's into banking, he's still involved, and he just said the big difference between 08 and now the phones.

He said, You don't need to see a line around the block. There's not going to be no line, it's all in your phones. And I didn't realize this. In 2008, we were a BlackBerry society where we weren't really banking at all on our phones. And therefore, you had to make a call and do things mechanically.

Now you could do things emotionally quickly. And that's what caused these rapid dissolving of these banks, and that could happen. Oh, very much.

Well, it's why you see such dramatic swings sometimes. You know, we go back, what is it, a year or so ago to what they call the emoji stocks? I mean, this is exactly what happens there. It's like we're still running a new platform and didn't tell anybody that, hey, by the way, we went from paper and pen to digital and you got to keep up. But the investment decisions by these banks just don't make sense.

And when you're investing in companies, you're giving money. And one of the things you read about SBB is they were more of a consumer base. In other words, they were flush with capital. The problem was they were locking their capital away in long-term investments because the rest of them were getting the business were getting their venture capital money, which was sustaining them, not loans from the bank. They were literally trying to make all their money on long-term treasuries in which they were getting 2%.

And the minute, I mean, just, I don't understand. Powell and the Fed have made it very clear over the last year and a half they were raising interest. I know. Why did they wait so long? To try and get out of those ten-year capitals.

I mean, it's just massively. But they got Joe Biden in the White House. They got an FDIC that says, look, we're going to protect everybody. Is that not a similar argument from 2008, Brian? Do you remember that argument?

Well, if we don't save these, we'll let this one die. But if we've got to save the rest, otherwise, massive catastrophe. I did not know this. There was a sense, there was a worry that Ro Kahana brought up that, okay, the regional banks are going to get eaten by the big banks. We're going to be a country run by four big banks.

And then Harold Ford told me: no, there's something in the regulation that prevents that. From happening.

So there will be a regional bank branches in everybody's neighborhood still, I would imagine.

Well, that will be to a point, but I mean, I'm I'll tell you just for an example here in my home. Yeah, I'm I'm about 60 miles north of Atlanta in a in a fairly robust suburban county. fifteen years ago we had at least Six to I want to say six to seven either micro regional or local banks.

Nowadays we have Two And then the rest of them are either large regionals Yeah. the one of the big five.

So yes, it's true to a point, but what he's also, I don't believe personally, and he probably I'm gonna defer to him as far as some of this, but what I see from the street is these smaller community banks and smaller, quote, regionals are buying each other up. It may not be the Wells Fargo's, the BCAs and others, but we are seeing consolidation in this market. And it is making it, instead of maybe four big banks, you're seeing 15 big banks across the country. Lastly, I just want to get your take on this. It seems to be so far, I have all the respect for Nikki Haley.

Tim Scott's about to get in. I think that Governor Sununu will be in, and Pompeo and Pence. But right now, DeSantis and Trump seem to be sparring. Tell me about the quality of this attack from the former President to Ron DeSantis. Uh cut twenty-nine.

He also fought against Social Security. He wanted to decimate it and voted against it three times. Voted against Social Security. That's a bad one. A lot of people don't know that, but I think they've been finding out over the last.

Four weeks, one of the reasons that we're zooming in the polls, perhaps. Maybe that's one, maybe it's other things too. It's really based on what we've done, I think. And on Social Security, well were at it, he wanted the minimum retirement age to be lifted to People that are seventy years old. A substantial increase over what it is right now.

That's a big increase. And he also voted to severely cut Medicare. I will not be. Cutting Medicare and I will not be cutting Social Security. We're living in the age world.

So he had a huge crowd yesterday, wrapped around the building, went on for hours. Trump of DeSantis had 1,000, which was they say a really big crowd too, but not compared to Trump. What's your sense on how this is playing out in your party? It's playing out sort of like most of us thought. One, remember, and I say this just as a A viewer, Ron DeFantis has been vetted in Florida.

He's never been vetted on a national stage.

Okay, that's a big difference. And you're starting to see this. The Trump team is actually starting this process. I think it's the Trump is hitting on themes that everybody can gather around, Social Security, Medicare. The problem is, as we all know, that both all of those Trump programs have to be fixed at some point without harming the ones who currently get it.

And I think the votes he's talking about were RSC budgets and some other things in Congress that Ron eventually is going to have to talk about. But it's working. I mean, look, anybody that thinks that Donald Trump doesn't have in a Republican primary about 30% in most Of the red states, let's just put it that way: 30 to 35 percent, just straight off the top. They're deluding themselves. And so, you know, I I think right now it's working.

Yep, he's coming off strong. He's had a very good month. Listen, Doug Collins, always educational to talk to you. Thanks for your insight. Greg, Brian, I thought you later.

You got it.

Okay, your turn next. 1-866-408-7669, or write me at BrianKilmead.com. You listen to the Brian Kilmead Show. Don't move. The fastest growing talk show in America, you're with Brian Kilmead.

Information you want, truth you demand. This is the Brian Kill Me Show. All right, Alex, you're in Brooklyn. What's on your mind, Alex? Hey, good morning, Brian.

Thanks for taking the call. By the way, you keep on mentioning that How crazy it is that Joe Biden is blaming Trump for everything.

Well, you know, if Joe Biden were right, how come we didn't see any of these crises happening during when Donald Trump was president? We didn't have wars, we didn't have this inflation problem, we had COVID, but that was something that was clearly out of his control, and everybody knows that. But you know, if he were right about it. The only way it could be true that Trump would be r um responsible would be if he was the one controlling Joe Biden. But clearly, he isn't the one.

It's maybe Obama. But I also wanted to say about Mike Pence, and I noticed that he's coming out very, very Strongly and extremely against President Trump condemning January 6th this weekend. And I think the reason why he's doing it. And because he recognizes that he's not that much of a substantial candidate, and he's not going to get them many votes in the primary.

So what he wants to at least do, he's going to be entering the race, but he wants to get the the the Republicans, a few percent of the party that really hate Trump and don't like the direction that the party is going. And those people wouldn't want to vote for DeSantis and they wouldn't want to vote for Nikki Haley as well because So he wants to get them the one that are upset about January 6th. That's not going to be enough. I just thought it was blame, you know, for Trump to blame Pence for January 6th. I I can't believe for Mike Pence to come out and say what he said.

I thought he'd be saying it earlier. January 6th is just not a good day for Republicans. I don't care where you stand. Republicans could do a lot better off not talking about it at all. From his mouth to your ears, it's Brian Kilmead.

The management of these banks will be fired. If the bank is taken over by FDIC, The people running the bank should not work there anymore. Third. Investors in the banks will not be protected. They knowingly took a risk.

And when the risk didn't pay off, investors lose their money. That's how capitalism works. That is uh President. Biden, who was kind enough to get up at nine in the morning, he does not like to get up at nine in the morning. I really feel for him.

And he had to get that announcement about these regional banks, two of which have gone under. And he said, don't worry, depositors will be taken care of. And he's firing all the management. Susan Lee's with us right now, Fox Business Correspondent. It's one of those times, Susan, where a lot of this stuff is unscripted.

You know, it's not so much. Here's the inflation rate. Here's the job numbers. All of a sudden, it's like, well, we lost two banks and we could lose some more. How do you think the president handled it yesterday or the policies that he implemented?

Well, I think this was a unique case in Silicon Valley Bank and that it was so central to the tech startup scene. It banked around, I think, 50% half of all capital venture invested technology. And it was really kind of a social media tech bank run, which made it so fast. I mean, the bank pretty much collapsed in 48 hours, right?

So in this case, you know, you had loud voices, deep pocketed voices from Silicon Valley and out west saying, you need to rescue this bank. Necessarily rescue, but to guarantee those deposits so that the innovation in America isn't killed off. You have competitive trying to make sure that his bank in his neighborhood doesn't go under.

Well, here's the thing: I do agree that innovation is important to America. Silicon Valley, of course, is the hub of it.

So I think there's a bit of boy crying wolf. And will the government step in again if there's another bank that has a bank run? I think the implicit and the implied movement and the actions from the Federal Reserve and the FDIC is that we will come in to backstop banks in the future.

So that means that that's why we're actually seeing these regional bank stocks actually up today after selling off around 60, 80 percent in PacWest's case.

So if that happens and you're running a bank, you're really not that worried, even though it's embarrassing, devastating, and will hurt your career. But if I take some risks, don't worry about it. My depositors will be taken care of. That's Carl Icon's position. Yesterday with Neil, I want you to hear this.

Cut nine. The problem in this system is right now. That we Issued too much capital. Very simply, the balance sheet of the Fed. Went up like $7 trillion or a number like that.

You look about it and say The Fed is not telling you, we sort of got to get it back. It's like you're giving your kids all this money, and they went out and bought things foolishly. And then I'll get to that.

So, not only do you have this problem, many companies are run by people. that are not qualified to run them. or don't care. In other words, they they look at they have different agendas. Is that possible?

People running banks and don't really care that much?

Well, in this case, I mean, did you look at the balance sheet of Silicon Valley Bank? It was just unbelievable how a bank that's been in operations for 40 years would be able to make such a bad assessment in risk management.

So, you know how it works in startups, right? Have a risk manager for nine months? Correct, that's right. But also, have you looked at their balance sheet and ultimately they were brought down because they poorly invested in 10-year treasuries that were yielding 1.7 percent. And what's the interest rate?

Now, close to 4%, at least, maybe 5%, depending on the maturation and the duration of these treasuries.

So you're slowly drowning. That's right. And the point is, you work in Silicon Valley. If you're backing these startups, right? These are startups that need their money immediately in the short term.

So why would you be putting $21 billion, I think almost up to $50 billion, into these long maturation, long-duration 10-year treasury bonds that don't pay out for a decade? That makes no sense to me. And also, what about the riskier assets? I mean, I think there needs to be a deep look into what banks are actually holding. In Silicon Valley Bank's case, they had $7 billion in what we call venture debt.

That is not riskless. In fact, that's quite risky, meaning that you are extending credit to startups that don't have a long credit history in order to get warrants and equity in their companies. And as you know, in venture, 10% of companies work out, 90% do not.

So if I was a depositor, knowing that my money was being put to risk in these type of investments, I would have a rethink about how safe my money is in that bank.

Well, that's a good point. How do you explain? What happened with the other bank in New York? Oh, Signature Bank, which was a crypto lender.

So the two largest crypto lenders, Signature and Silvergate Bank, have now gone under because of that FTS collapse and the crypto winter that we've seen. Also, Barney Frank, by the way, Barney Frank, the former congressman of Dodd-Frank, he says and he believes that there was an anti-crypto movement, and that's what brought down Signature Bank. Because did the government necessarily need to step in to shut down Signature when it did over the weekend? I don't know. What do you think?

Well, I mean, it was in trouble, but a lot of this early action by the government, whether it's to shut down Silicon Valley Bank or Signature Bank, why don't you give them an opportunity? This is not me speaking, but some on Wall Street. Why don't you give them an opportunity to try to find a buyer? And we do have an auction taking place again for Silicon Valley Bank. Apparently, Apollo management, some of these multi-billion dollar, rich, deep-pocketed private equity funds are interested in buying the remnants of SVB.

So that includes Blackstone as well. Wow. So. He's playing cryptocurrencies, Barney Frank, which hadn't existed when he and fellow lawmakers in Washington were grappling with the collapse of Lehman Brothers in 2008.

Now, what about the fact that they're saying, well, Trump, you loosen regulations, or else this wouldn't have happened. Right.

So, but we have stress tests and these living wills just to make sure that's what they're called, the tests that the Federal Reserve performs on these banks to make sure that we don't see another 2008 and financial collapse. But the fact that in the I think the policies in 2018, some of these smaller regional banks like Silicon Valley, like say Signature, some of those standards were pushed down.

Now, I want to ask you this, though, is this question about moral hazard, because that's what everyone's talking about on the markets right now. It's a Monday morning quarterbacking. Should we have stepped in to rescue Silicon Valley Bank? And Ken Griffin, you know, one of the richest men in America, in fact, the most successful hedge fund in history, he says we are looking and. Staring down the breaking down of capitalism before our eyes.

Because capitalism has winners and losers. You can't tell everyone they're never going to lose, or else the game changes. Yeah, and that's the thinking: is that, okay, well, if you're going to guarantee Silicon Valley Bank, doesn't that mean everyone is guaranteed? And will there be winners or losers?

Now, I will make the argument, though, is that do you want power concentrated in the hands of just four banks? I mean, they're already too big to fail. Nobody wants that. They're super too big to fail if that's the case. Because if you were a depositor in a smaller bank, if there is a chance that your bank could go under and go bankrupt, wouldn't you be taking out your money and making sure that you're putting it in these JP Morgan's Bank of America's?

And you know that those banks will not be let to fail by the U.S. government.

So you're saying that a lot of people will adjust their behavior if they feel as though these small banks are not backstopped. Of course. And yeah, and I think there's hazard in concentrating power in just four or five large lenders because that hurts you, that hurts me. I don't get the right services. There's no competition for my money and my dollars.

So that means I. I get less on my deposits.

So I want you to hear what Peter Schiff said last night with Laura Ingram, Euro Pacific Capital, Cut 11. Wall Street learned the lesson that you can gamble, and if you win, you keep the profits. If you lose, the government bails you out.

So that was part of the reason for the risk-taking. But also, government regulation, banking regulations, encouraged all banks to load up on Treasuries and mortgage-backed securities because of the favorable way they're treated for accounting purposes. They don't have to take any haircuts. They don't have to mark them the market. And so it's government policy that caused all this.

But none of it would have happened had we not had the 0% interest rates or the quantitative easing. And inflation, unfortunately, is about to go through the roof. Because when President Biden said that nobody is going to have to pay for these bailouts, he's wrong. We're all going to pay through inflation because the Federal Reserve is financing it by printing money. Your thoughts?

My thoughts, Peter Schiff. You know, if we had listened to Peter Schiff for 10 years, you would have lost out on 1,000% gains in technology stocks and bought gold at $1,800.

So I would take that with a grain of salt, Peter Schiff, all due respect.

However, I would agree that interest rates were left too low for too long. And I think we're seeing the effects of that now because this catch-up, that 400%, that 400 basis point increase in interest rates, I haven't seen it. You haven't seen it since the 1980s. I wasn't around back then, but that's the sharpest increase we've seen in borrowing rates. And that kind of broke the back of Silicon Valley Bank.

Something had to break, and that was it.

So what do you think? How is this going to play out the rest of the week? Wow, you are so short term. I love how you think.

Well, I just want to get to Friday. That's all. We all do and get our paychecks.

So I think there has been a relief rally. In fact, there are good parts of this is that the Federal Reserve, looking at 6% inflation today, not Not high, not low, but the fact that you have now this fragility in the banking system, it might make them rethink higher interest rates for the rest of this year. Right.

And then people say who are hawk on inflation would say, raise them anyway. I wouldn't be doing that.

Something's going to break, and you've already seen something broken. But here's the thing: I just want to make sure everybody understands this is not a bailout like 2008, right? Because you have the stock and bondholders at Silicon Valley Bank at Signature, they were completely wiped out. Whereas in 2008, I mean, who went to jail for the financial crisis? Did anybody lose any of their stock?

No. The point is that this time around, people are out of work. No tarp. Yeah. Thank you.

Susan Lee, thank you so much. I will definitely pay you for. She demanded a fee to come in here in this environment. Nothing's for free. Thank you.

We're going to do a Samuel Kess and Barney and Company. I know you're a little jealous. No. No. Back in a moment.

Thanks, Susan.

Now, the Brian Kilmead Show joins Fox Businesses, Varney and Company with Stuart Varney, live on your radio and on Fox Business. Here's Brian Kilmead. Welcome back, everybody. We're going to be in a matter of moments. I'm going to casting FBM, one of the fastest-growing TV networks in the country, if not the fastest one, especially the viewers through the roof, because of what's happening with the markets, what's happened with those two regional banks, and a few other banks that are taking a bath today.

But we're going to talk a lot about what we're going to be talking about right after I get off the air.

So stay on board. 1-866-408-7669, and that is 2024, the Trump DeSantis. Locking horns again. Little by little, DeSantis is starting to engage. Let's listen.

Kill meet with me. Brian, last night, Florida's Governor DeSantis said helping Ukraine is not in America's vital interest. I think that just opened up the split within the Republican Party. What say you?

Well, I just think that I saw Tucker ask for all the candidates to put down in paper how they stood on the Ukraine war, and they all got back to him. And I think all but Mike Pence just talked about maybe this is not being a necessary conflict. For me personally, I'm really disappointed. That's a little bit of a reverse where he was kind of indicating before that President Trump was too easy on Russia. To me, it's so abundantly clear that if you choose to look the other way now, you're not going to have a choice when they take Georgia, then Moldova, then they'll start with the Baltics, and then they'll gradually, in 10 years, say, okay, let's make a move on a NATO nation.

They've already proven and we're much stronger. We found out all the problems we're having with our army. We have China backing us up now, and then soon we're willing to challenge NATO. To me, this is such a clear investment. But for Ron DeSantis, I.

I don't think he thinks it's to his advantage to say that different than Trump right now. Wouldn't it make a difference if President Biden came right out and said this is our objective. This is what we want. I mean, a clear objective for all the help that we're giving. Wouldn't that help?

Yeah, a couple of things. Where Biden is, people aren't confident about Joe Biden running anything foreign. After Afghanistan, the way he screwed up the China relationship, he's allowed Central and South America to be dominated by China, Russia, and Iran. What's happened in the Middle East, dropping the ball on the Abraham Accords, allowing Iran and Saudi Arabia to get together, they don't feel comfortable, as do I, going with anything that Joe Biden is doing. But in this case, he's right.

However, he's not right in not replenishing our stocks. He's not right in saying whatever it takes. Even Ukraine doesn't want that.

So I would love to see a Republican candidate say, I want a plan to replenish our stocks. I want to know the accounting of everything we're giving. And also, I want to let Ukraine know they've got to win this year because they don't have enough people to win the attrition fight. State the objective.

Next case: the President of Mexico claims that Mexico is safer than the United States. Roll tape. Mexico is safer than the U.S., and there's no problem with traveling safely across Mexico. That's something that US citizens know and something our fellow countrymen know. It's not that they're afraid.

It's not that this violence you mentioned really exists. No. It's manipulation, pure and vile manipulation.

Okay, it's manipulation, he says, Brian. I think he's just having to defend his country and his tourism industry. He's lost his mind. He's lost his mind, number one.

So, Arbrador first said, he also said last week there's no fentanyl problem here. It's a decadent American society, which is the issue. It would be great to see our president go back at this guy, like the previous president did, and say, hey, don't talk about our country like that. We all know you guys are basically run by the mobsters cartels, fueled by illegal drugs that is being marketed in our country. And you ask any American who used to, when I was out in California, people, when we went to San Diego, everyone would be going back and forth to Tijuana like we were going to the town next door.

And now, all of a sudden, nobody would dream of just driving over there unless they absolutely had to. We know what's going on with Mexico. In fact, I can't tell you how many people I know just said we're not doing spring, I'm not letting my kids do spring break in Mexico. The resorts might be safe, but even people don't feel right about that. In many cases.

So he's just, I don't know who he's playing to. It would be good if our president came right back at the president of Mexico and made a forceful statement about, you're wrong. Brian, thanks for joining us. I know we'll see you again soon. Brian, feel me there.

Go get him, Stuart. Thank you so much. Let's go out to Alex listening in California. All right, Alex. All right.

Thank you for taking my call. I have two comments. The first one is Biden is wrong when he says that the rules of capitalism apply in the case of Silicon Valley Bank. The rules only apply to ordinary people. They don't apply to companies.

And the second comment is a disproportionate share of the deposits in the Silicon Valley Bank were held by startup companies. And that is why the FDIC will guarantee the deposits even though they exceed the two hundred fifty thousand dollar limit.

So that limit is only for ordinary people. It's not for companies or super wealthy investors.

So they should make that clear because the FTSC is not going to have enough money, should that happen, to back up all those banks and fulfill their pledge. Don't you agree? Yes, and I I think I think Biden should make the rules apply to everybody. And that means those startup companies that decided to go beyond the two hundred fifty thousand dollar limit, they should lose that. They should take a haircut on that on those deposits.

That's the way capitalism should work. Yeah, thanks so much, Alex. Appreciate it. And we're all seeing this is probably not going to be the last time this happens, too. Here's Larry Kudlow yesterday talking about where he thinks the blame lies.

So be patient. He can break it down like anybody else. Cut eight. Bidenflation is what caused these huge interest rate increases. It's an upside-down interest rate curve.

In other words, short rates became much higher than long rates. And the problem here with this Silicon Valley Bank is that they were unable to manage the risk involved in that. Here's who the culprit is: the San Francisco Fed, whose president is a woman named Mary Daly, did not exercise their supervisory responsibilities. They should have seen this coming. It was over a $200 billion bank.

Nobody said you couldn't supervise that. They just didn't do it. And so now this thing is that, who knows? I mean, I hope the contagion is going to stop, but we can't be sure because there are other banks around the country. I don't know whether they're being supervised properly by the Fed or whoever, but that's still going to be an issue.

We'll hope day by day that that doesn't happen. You know, you can't legislate bad moves and bad executive and bad leadership. And that's what it seems to be.

So here we are knee-deep in another business scandal. or a catastrophe that hopefully the worst is over. Listen to the Brian Kilmeat Show. Don't forget, we got our podcast, Governor DeSantis, whole 33 minutes, BrianKilmeShow.com. From the Fox News Radio Studios in Midtown Manhattan, it's the fastest-growing radio talk show.

Brian Killmead. Hi, everyone. Welcome to the latest moments of the Brian Kilmey Show. Coming to you from Midtown Manhattan, heard around the country, around the world. Bottom of the hour, Adam Bowler will be with us, CBO of Rubicon Founders, who was a senior member of the Trump administration.

And he was in on the Abraham Accords. Remember, people recognized Iran as the pariah in the region. They used Saudi Arabia in recognition with Israel and were able to rally the world against this evil regime, not the people. And now that's done by the boards because China has now inserted themselves and brokered, at least on paper, some type of truce between. Iran and Saudi Arabia.

We'll discuss that. We also have Dave McCormick here in the studio. You remember, Dave was running for the Republican nomination, almost got it against Dr. Oz in Pennsylvania. Senator Fetterman now sits in a psych ward trying to reclaim, get himself out of depression.

We'll talk about that race, but he's also got a brand new book out, Superpower and Peril, a battle plan to renew America. But first, let's get to the big three.

Now, with the stories you need to know, it's Brian's big three. Number three. The House Oversight Committee subpoenaed Bank of America for more than a decade of financial records belonging to three of Hunter Biden's business associates. That venture hoped to form a partnership with CEFC, a Chinese energy company. Right, run by the Chinese government.

Hunter under new scrutiny as more Chinese millions turn up in his account and allegedly was earmarked for Joe and his brothers. Wow, this is going to get big, even if Democrats try to deny it. Number two, I guarantee you, I guarantee you, we're going to end fossil fuel and I am not going to cooperate with them. No more drilling on federal lands. No more drilling, including offshore.

No ability for the oil industry to continue to drill. All right, sell your drills, everybody.

Well, turmoil, get it? Desperate to save his reelection, President Biden green lights the Willow Project in Alaska. Has everybody on his left, the green left, going bonkers. Number And you can't let companies think that when they screw up, it don't matter because the government's going to save you, because then you're going to get rampant inflation, and your currency is going to go to hell. How bad can it get?

That was Carl Icon, by the way. Could be looking at a regional bank run, perhaps, as New York Signature Bank and Silicon Valley Bank go down. Question is: how many more are going to be on the hook for this? And how big could this get? Let's hope it's not going to get much bigger.

A guy that was there when 2008 old crass working in government for For Paul, for Secretary Paulson is with me right now. And what a resume you have, Dave McCormick. You were there in 2008, right? I was. Hey, good to see you, Brian.

Thanks for having me. Great to see you. Congratulations on the book. But first, can you bring us back to that moment and the different things you were witnessing and what action you decided to take?

Well, you know, what happened in 2008 has some similarities now, but it's also very different. You know, Mark Twain had that great line about history never repeats itself, but it rhymes. There's some rhyming going on here because low interest rates had created investment decisions that were very risky in the 2005, 600, 700, 8 in mortgages and so forth. Right now, what's happening is is a decade of excessive spending and a decade of excessively low monetary policy. But the last two years of incredible spending under Joe Biden has spiked inflation.

And that inflation spike has led the Fed to have to respond to the problem they created. Which was inflation by raising interest rates. But if you're running a company, a fund, a regional bank, That's not news to you that the interest rate's going up. It's shocked all I'd be thinking about. I mean, what happens?

What if? What if you fully feel responsible? It's shocking what happened in Silicon Valley Bank because what was obvious to everybody, if you look at it, is that they were buying long-duration treasuries. They were taking big losses, and they had a depositor base which was very concentrated. And so when the deposits started to go out and they had to write down and take losses, they were in trouble.

And it was terribly mismanaged. But the other people that terribly mismanaged this were the Fed. And in particular, the San Francisco Fed, because what you're describing was so obvious, was obvious to you. It should have been obvious to them.

So, as a supervisor, they should be seeing this. Huge failure. What happened to the old friends? I know this CEO was on the board of the Fed in San Francisco. I have no idea what happened.

No, but do you know how it's like? You know what it's like. You know these.

Well, what's supposed to happen is those regional banks have oversight from their regional Fed office. Regional Feds, so in this case, the San Francisco Fed, and they should be in looking at those loans, look at those balance sheets, looking at the strength of those deposits. They clearly didn't. This is a failure of oversight, not a failure of regulation, a failure of oversight.

So, David, your reputation, someone asks you to be on a board. Imagine they ask all the time. Do you really take that serious? You have to. You're a fiduciary.

In this case, so it says, but now what's happening, Brian, and I'm sure we'll talk about this, but the response. raises real questions because it's appropriate that management gets fired, it's appropriate that the equity gets blown out, it's appropriate that the creditors are hurt, but here we have the uninsured depositors Getting 100% return on their money. They're over $250,000. Over $250,000. They're running short.

And here's the two bad things that come with that. The first bad thing is: if you're the landscaping guy that does the headquarters and they owe you $10,000, you just lost it. If you're the rich venture capitalist, because you're a creditor. And the creditors get pounded as this goes down, where the deposits. No, no.

If the bank owed you $10,000 as a creditor because you do the landscape on the building. Oh, oh, you get wiped out. Where the depositors are getting 100%.

So the rich venture capitalists are getting 100%. The landscaping guy gets it. That doesn't seem right. But they do say investors lost their money. Investors, the equity holders lost their money, which is appropriate.

Now, the question of the depositors, the other issue there is the moral hazard issue.

So there's $18 trillion. of deposits in the in our banking system. of those 18 are uninsured.

So do we n does that now mean that we're going to ensure $8 trillion of uninsured. That's the implication. That's the precedent. And that's very, very dangerous. And you got to have confidence in your banking system.

That's why the Fed acted. But I think that bailout. Was an inappropriate one and it's going to create problems down the road. People were critical of you guys with the tarp, right? Yeah.

I mean, they were critical of you, but you were thinking about the holistic picture. People, you were saving people that had nothing to do with these bad decisions.

So that's just it. And for example, for example, if PacWest, which plunged 60% yesterday, if they go belly up, Silvergate did go belly up. The Western Alliance lost 45% of their value.

So if they end up in a couple of days going down, how can you possibly say no to them? Can you?

Well listen, I think I think y yes, you you probably can. The the key is doing two things at the same time. Enforcing market discipline and risk is rewarded with return in some cases, and risk is rewarded with loss. If we lose that principle where everybody's always protected, then we're going to lose our capitalist system. But the second thing you've got to do is protect the unprotected, and that's the systemic risk.

Dave McCormick's here, his book is now out, Battle Plan to Renew America. The one thing I think that I'm encouraged by is that the American people, only 15% of the country, view China positively. Republicans, I didn't mention Republican and Democrat. Americans. We got to keep it.

And you see it too. Listen, we absolutely, and this book. I started writing long before I ran for office, and the purpose of the book was based based on my belief that the the country was in decline. headed in the wrong direction, economically, national security, spiritually. And we had to do something about it.

And decline's not inevitable, but neither is renewal.

So it depends on what we do.

So this book is the What We Do Plan. And I argue for educating our people. I argue for confronting China. And I argue for securing America by taking on big tech, building out our military, and really reforming our institutions because our institutions have been hijacked by a progressive ideology that's taken our country in the wrong direction. And when you say our institution has been hijacked, is it organized?

I think it's very, I don't think it's well, it's organized in some respects, but it's organic. I'm talking about our schools, where you have an ideology of history of America that I don't recognize, critical race theory, sexualization taught for our elementary kids. I'm talking about our military, where the Army released its climate change strategy before its warfighting strategy. I'm talking about in business, where ESG has hijacked some basic fiduciary responsibilities to shareholders.

So it's across our institutions in different forms. I don't think there's one big place that's being orchestrated, but it's pervasive, is the way I'd say it.

So, and then also we're looking at a situation where only 60% of our workforce is actually working. Even though the unemployment's low, many people say we have to recalculate the numbers that matter.

So it's how many people eligible to work are working. Number two is how many people, when you quit looking for a job, you are off the books entirely. And we're watching all these massive layoffs, but it's not playing out in the overall numbers. What's unbalanced about our economy? At least part.

Of the problem, I'm not sure the whole problem, but part of the problem I saw in the campaign trail in Pennsylvania all the time. You'd go to these manufacturers, you'd go to chemical companies, and they couldn't hire enough skilled labor.

So we don't have enough investment in a skilled workforce. You know, when you and I were growing up, everybody had to get a college degree.

Well, there's a lot of people that are getting college degrees when they should be getting very thoughtful, skilled training to work in semiconductor facilities or things like that.

So we have to get our workforce skilled to meet the needs of today. That's part of the reason that these critical technologies are moving overseas, and we got to bring those home, like semiconductor, but there's many others, and we need skilled workers to support them. We don't have that today because of this notion that everybody's got to go to college.

So, how when you look at the interdependence of China and the U.S. business-wise, what's going to be the hardest to detangle?

Well, there's four things I think we need to do. One is strategic decoupling, which you're referring to. And I think for those most strategic industries, like pharmaceuticals, can you believe it that we're dependent on China for our pharmaceuticals? I didn't even know that till COVID, to be honest. You didn't know?

No, I didn't know that our supply chain for pharma was so interdependent. And why is that? Because they could do it cheaper over there.

So it's good for my investors, and you do it. No one's talking about national security. No, and nobody has the big picture. The semiconductor is the most obvious. 90% of the semiconductors we need manufactured 90 miles from mainland China.

It's lunacy. Taiwan. Yeah, lunacy.

So we've got to bring those home. That's obvious. Tomorrow. Is the CHIPS Act going to help that or no? CHIPS Act is the right motivation.

There's some good things there, but it's incomplete. It's not enough money. And you probably saw recently what's happening now, which is what we always fear is going to happen with a big democratic piece of legislation. They're now imposing all sorts of social. We have to provide child care.

Exactly, which is exactly the problem, which is we lose the goals of policy because it gets hijacked by a broader agenda. And that's happening over and over again across our institutions.

So it's a good step in the right direction, but it's flawed. And what I argue for in Superpower and Peril is that we need to understand these key sectors and put incentives in place, tax rebates, maybe some first loss from the government, to draw private capital, not into companies, but into sectors where it's going to make the difference for our national security.

So I'm watching some of the things on Nike and even Apple. And Adidas, they're starting to pull out their manufacturing from there, and they're going to Vietnam and other places, even if they're not coming back here. That would be a good intermediate step. I mean, believe it or not, Vietnam is one of our best allies in the region. They also look at China as a problem.

Japan looks at China as a problem.

South Korea looks at it as a problem. Australia does. There's an opportunity there because everyone's antenna is up. Yeah, well, first of all, if we have to determine what's strategic and not strategic. I think we can all agree: microchips or robotics or satellites are strategic.

Those need to be manufactured at home or only with our closest, closest allies where we can count them. Then there's things like sneakers. I don't think there's much of an argument that those are strategic. They can be manufactured around the world, but we should definitely have those companies pull out of China if they think they have exposure to doing so and also create a much more diversified supply chain. That's what's happening today in the ways you said.

All right, so Dave, foreign policy-wise, where's our military at? You know, we're thinking about the green policy instead of military policy, but we also know, too, the recruiting's down everywhere. You're a West Point grad, so this must really disturb you, along with what's going on with the academies. Yeah, you look at it in our lifetimes, Brian, has there been a moment since World War II where there's so many risk? globally.

Iran, China, what's going on with Russia.

So they're terrorism in a variety of ways.

So right now, what the Biden administration has done is proposed a budget that's essentially a three percent cut because it's inflation is a six percent and it's a three percent increase. And even if the money was the right amount of money, It's not being focused in necessarily the right areas. There's this huge socialist progressive agenda that I've described, but we're also not, we're not, we're too wedded. To existing platforms, and we're not looking over the horizon enough in terms of the kinds of investments we'll need to win. And this is where China has the benefit of starting from scratch in some ways.

So, if you take $100 billion on top of $800 billion that we spend and exist on new technologies, the Chinese don't have nearly as sophisticated a military. They can build from scratch on drones and all sorts of kinetic capabilities that we don't do because of our existing platforms.

So, we need to drive an innovation agenda. We also need to reform our defense industrial base in ways that allow new vendors to get into the mix. Right now, we're kidnapped by the big five defense contracts.

So, looking at your career in Pennsylvania, you almost had the nomination. You and Dr. Oz were in a tight fight for it. He ended up squeaking it out. And now, William Casey is going to be up in 2024.

How close are you to saying I'm in? You know, I gre as you said, I grew up in Pennsylvania. I'm 57. I've spent 35 plus years in Pennsylvania. I ran a company there.

I grew up there, played sports there.

So no one could say you don't belong there. No, I I you know, I'm I'm pretty deep. I got a family farm there where uh where I grew up bailing bailing hay and trimming Christmas trees.

So um we ran because we wanted to serve. We thought we we could we could add something. And when you lose by 900 votes, it's not like the motivation to serve goes away. Right.

So I'm trying to think about the best way to do that. I haven't decided whether I'm going to run in 24 or not, but I'm certainly thinking about it. You know, Casey will be more formidable than Fetterman. Yeah, for well, he's an incumbent, but but what they both have in common, interesting fact, first time in 76 years, we've got two Democrats. In the U.S.

Senate. First time in 76 years. That's not what Pennsylvania wants. That's not Pennsylvania. Second is the progressive.

agenda that's been hijacked in the Senate and by the Democrats in general. Both Bob Casey and John Fennerman have promoted the very same policies. And so I don't think Pennsylvanians want that. But to win as Republicans, we got to do three things. Number one, we got to get absentee ballots out there.

We got to embrace that and get a choice. You can't start 500,000 votes down. You just can't do it. And we got to get voter registration up. And in the key minority populations, Latino populations, we have a lot of advantages.

Second, we got to get good candidates who can win primaries, but also generals. What did you learn? The main thing you learned from last run, your first run ever? The main thing I learned, and I believe it's to the last point, which is I think I think people want to hire somebody for these jobs. Who are positive and looking forward?

They want the problems to be fixed. I don't think we can win as a party by looking backwards. And this book, Superpower and Peril, lays out the plan that I hope others will embrace, and I would certainly run on if I ever decide to run. Dave McCormick, thanks so much for coming in studio: Superpower in Peril: A Battle Plan to Renew America available now. David, thank you.

Thanks for watching. Hey, good decision. Although, I think I just heard it. Thanks so much. Back at a moment.

A talk show that's real. This is the Brian Kill Me Show. Hey, welcome back, everybody. Thanks so much for listening. Let's go out to Stephanie listening in Winter Haven, Florida.

You know what? Let's hold on to that for a second because I just don't have enough time. It's not going to be fair. What I'll do is I have Adam Bowler next. He's a CEO of Rubicon founder, senior Trump official, was involved with the Abraham Accords.

I got to talk to him about what's going on over there. Then I'll get the stuff and everybody else on the other side of the break. But I'll tell you, whatever you think about what's going to happen in the next election, the one whether you think Rick Scott's the right way, if you're a Republican, we're letting the whole primary process play out and don't pick somebody, or you think Donald Trump is the right way. I'm going to pick my favorite person, vote for governor, vote for senator here. Or you think that Steve Daines is doing it right?

Steve Daines is going out there and basically picking candidates. He wants Dave McCormick in that race in Pennsylvania. It'll be a lot of tough beating Senator Casey as opposed to beating untested Crazy socialist in Fetterman, who obviously wasn't physically well. But I think the primary took a lot out of Oz and out of Dave McCormick and see if they can get back together then and figure out what happens.

So that's picking out the right candidate there. Also, there's some key races.

So, Montana will be big, Pennsylvania will be big. They think they got a shot. Maybe if Lee Zeldon decides to go after Gillibrand in New York, that would certainly be fascinating and interesting. Although, you know, you don't want to lose twice. And I think maybe Lee Zeldon is saying to himself, I could probably take her, I'd probably take Kathy Hochul next.

What do you think?

I think so. A radio show like no other. It's Brian Killmead. have such an impact on the world. We lead the world or we Should, but we're not leading it anymore.

When you see that, and you see Saudi Arabia made a deal with Iran. And they made it through China, not through the United States. Who would have thought of that one? Who would have thought Saudi Arabia? And I said this two years ago.

I said, you know. If they keep going like this, Saudi Arabia. is going to get together with Iran through China. And China's going to control that whole situation. And that's what they're doing.

It was so disturbing to see them in between Saudi Arabia and Iran. Essentially, the key was to get Iran to stop attacking the Saudis in Yemen and start rocketing, stop rocketing their border. And they now exchange ambassadors. And once again, it looks like China is diplomatically got a leg up on us. Not that we were going to negotiate between Iran and Saudi Arabia.

What we were going to do is, I believe, finish off the Saudi, the Abraham Accords with Saudi Arabia and Israel and others. Adam Bowler joins us now. It must be killing him to know what this is going on. He's the CEO of Rubicon Founders, was a senior member and a Trump official of the Abraham Accords negotiating team. Adam, welcome back.

Thanks a lot, Brian. I appreciate it. And you're 100% right. It's hard to look at that picture.

So what are your thoughts? You know the players. You understand that Saudi Arabia is no Jeffersonian democracy, but you know in the region it's to America's advantage to have an alliance with them like FDR noted in the nineteen forties. Nothing's changed.

So I directly negotiated senior levels with the Saudis and with the Middle Eastern countries, including Israel. And my agency was responsible with competing with China's Belt and Road Initiative. And so what happens here, this didn't have to be like this at all. And you're 100% right in your opening comments where the United States under President Trump took a very big leadership position. And the Saudis, when we were leaving, said we could normalize with Israel within the next six, twelve months if things continue on a positive trajectory.

And so this is exactly what you don't want to see. And the one thing I'll say on the genius of the Abraham Accords, from my perspective, people see it as a piece of court, which it is, but at the end of the day, it was enabled by one thing. It was uniting the region against a common enemy, and that was Iran. And that's what enabled the coming together of the region under US leadership. And so this is a big turn.

And not a good one.

So the prince knew, and look, I don't want to sit here and have someone listening to our show and go, oh, you know, Adam Bowler and Brian Kilmey love Saudi Arabia. No, but in the region, in the area, it is our best option. And we do have an alliance with them, and they did play a vital role in us winning the Cold War against the Soviets. That's just a fact. While never being saying to ourselves, wow, isn't it great the way they treat women?

Absolutely not. We believe everybody should be equal, but we do not control everyone's society. Having said that, the Crown Prince heard Joe Biden say, I'm going to, if I win, I'm going to make them a pariah nation. And he never forgot it. and while retracting the power that we had with oil and gas.

So we're losing the leverage that would maybe keep Saudi Arabia with us because they were competing with us, at the same time rhetorically isolating them and they Took it personal. And look, it's half measures.

So, at the end of the day, it's easy politically to say negative things because what you said is exactly right, Brian. We don't like everything that they do. We don't like everything that a lot of countries do, to be specific. And so, we made a lot of comments. We came in.

He was ostracized. The country was ostracized. There was a visit. You decide to go and you visit. Then you don't shake hands.

You know, it's this half-measure thing. And the half-measure thing doesn't work. You decide on practical policy. And what the Saudis need to see from the United States. Is a continued backing and a continued presence.

When it shifts around like that, and then you start saying, well, hey, the Iranians are backing the Houthis. We're not going to support you with weapons against it. You run into issues because where is the backing? And so then Saudi looks for others, and there's China's opening. And that's what they took.

And now you have a situation where the United States has lost leadership. I still have hope we can regen it. By the way, I don't think it's done. Yes. Because th this is my experience is and my job, as he said, is to compete against China with both our military and economic might.

And at the end of the day, most countries, almost all, would rather have the United States partner with them. They know the negatives of China. Uh So we need to get in there and we need to show consistency and strength. We can turn this. I always believe that.

It's never too late. But if we don't, then you're going to see the region go the other way. And just play this out. Israel says, really, the U.S. is taking the pressure off Iran.

They're loosening up the sanctions, still on some Hail Mary way, want to get back into that terrible nuclear deal.

So if they think they're weaponizing Iranian to the point where they can make a bomb, Israel is already there. The Mossad reportedly basically has a summer home in and around these nuclear plants. And they're assassinating scientists and blowing up buildings. They are not going to tolerate Holocaust 2. They just won't do it.

So by us pulling away, we're making Israel take action. 100%. And we're not backing our strongest ally. And this is what it comes down to. When you're doing foreign policy, there's some politics involved, but at the end of the day, do you want to pursue practical foreign policy that works, that shows the United States' strength?

And so weakness begets everything in foreign policy, one thing begets the other.

So I'll tell you the history of why this happened. It started with our failed pull out of Afghanistan. And I was talking with the Crown Prince of Bahrain after that, and he said, What that shows to others in the region is that the United States doesn't have the fortitude to say and backs out and doesn't, look, we didn't have to have a huge true presence there, but you decide to back out of the country when it's time to back out, not based on a certain date. You define it based on a mission when we're ready, not when the Taliban's ready. That showed something.

And by the way, it showed something to President Putin. And that's why we saw what happened in Russia. It showed something to China. And if we're not careful, this is the important thing here, too. Because it's not just foreign policy and Middle East world order.

You see what happens practically at home, because here's what this means: then Putin invades Ukraine because we look weak. And we don't make the moves we should. What does that mean to us? We're funding billions and billions of dollars to defend Ukraine. As China gets more strength here, where does this go?

This will beget Taiwan. And I guarantee you, American consumers ultimately are going to pay that price too from a dollar perspective.

So it's how foreign policy connects into our everyday lives. And I will tell you one other thing, too, and this is related to gas prices. In our administration, it would have been a simple call to the Saudis to say, hey, camp down for a bit. We're allies. When you've ostracized the Saudis to that level, and then you make that call, which was done, the call was attempted, and then there was a visit, they're not listening anymore.

So these things, you know, these all link to everyday gas prices, how much our taxes go up because we're funding billions of dollars abroad.

So that's the connection, I think. And I think as China grows in strength, we lose. Right.

And the good news is economically they are suffering now. And if you are breaking it down, if you saw the Wall Street Journal, they have a new guy in charge of their budget, whatever their version of a Treasury Secretary is, who's tight with President Xi. And they know they got a huge unemployment problem between 18 and 25. These people aren't working. They know by taking away the market incentives from these successful companies and basically arresting or sidelining these entrepreneurs, the entrepreneurs are leaving.

And we should bring them here. The Jack Maz of the world.

So they know they're going to pay the price for that. They don't understand or they're underestimating the need for incentive when it comes to business, even in a pseudo-communist country that they've now this guy, President Xi, just wants all-encompassing power. But you're not going to get the production. That's been the history of that form of government. But I got to ask you, Madam Bowler, with your experience, we have to have a plan too to replenish our stocks that we're giving to Ukraine.

And these are American companies.

So we have to, I understand that with administrations and these companies, they're unwilling to invest heavily because they don't know if they're going to lose an election and be left out to dry with all this product. Is there a contract that would transcend administrations? Can I get Raytheon a 10-year deal to build planes, javelins? Can I get that done, even though I won't be in power then? You can do that.

I mean, Congress, if Congress passes a law from that perspective or gives flexibility, so that's a congressional decision. But if the laws are passed, they can, and there can be continuity in a way that an administration can't break it. And I do think continuity would be important. But that's ultimately a law would need to be passed from that perspective. Gotcha.

So that has to be done. And of course, Ukraine, I'm fully in support. People just aren't in support of what President Biden, his decisions.

So when they find something they agree with, they feel wary about agreeing with them. But the slow walking of weapons is enabling the killing and keeps victory at bay.

Well, that's what look. I will give the administration to be, I'll give credit in certain ways. For example, I think the declassification of military intelligence stopped Putin from faking a lot. I think we got a lot of Western European allies on board. And I would have told you, I went to bet on that.

And you know what? That worked out well. Here's the problem. We knew all of these things, but we didn't act early. And I agree with you 100% with it.

It's almost like we're a reporter. We're telling everybody, why do we keep on pushing in half measures? We talk about getting them tanks. Oh, we're going to get them tanks. And then six months later, we send them tanks.

You know, now we're doing the same thing on the jets. My view on this stuff is exactly what yours is, which is, listen, we either do it or we don't do it. Stop dripping it and dripping it because people are dying and the Russians are getting the upper hand. Give them what they need or don't. Make your call, but don't make it slowly like we've been doing.

And so I think bolder action on this stuff will enable Ukraine a lot better than kind of this back and forth. How significant is it that President Xi called us out directly? Last week, as well as his foreign minister, talking about America being the problem. We don't change our ways, confrontation is inevitable. They usually talk in cryptic terms, and we know exactly what they mean, but they do it through their national newspaper.

This is coming from the president.

So they say our attempt to surround them, which I'm all for, having those meetings in San Diego yesterday with Australia and England and Britain, and then making sure that they understand we're expanding the Guam base, and the Philippines is now inviting us in, and we have 100% increase in Japanese defense spending, and South Korea seems to get it. I'm all for that. And because of that, China's reaching out, lashing out. But what is your assessment of that? It means that you have an emboldened Chinese.

And it's because of our length a lack of strength. And one of the things in our administration that I noticed is if you think about our allies, We had strong relationships in the Western Hemisphere close to us. We had strong relationships all surrounding China and strong relationships in the Middle East. And who were China's allies? Venezuela, Iran, North Korea?

They were third or fourth string allies. We cannot let that change because that's our strength.

So, the reason you see messages like that, the reason you see Putin's foreign minister president making like borderline ridiculous assertions about the war where people are laughing at them is because they're emboldened and it's because of a length of a lack of strength in our foreign policy. And you know, one other comment I would make on this is, and people don't know this. Abraham Accords were really, really empowered by a first single act, and that was killing Al Salmani. When we killed him in Iraq, it showed that we meant business, and that strength empowered peace. And so people need to know, you don't get peace through appeasement and weakness.

You get it through strength and ability to act. Because then you strengthen your allies and you show your enemies that you mean business. And that means they deal with you in a different way. We never had a risk. I mean, I was privy to everything within the government from a top secret level and above.

We never had evidence that Russia was going to take over Ukraine. It wasn't on the radar that we looked at or really considered beyond scenario analysis. And this cropped up quickly. And it's because you have emboldened people. Emboldened people take action then.

And that's when you see President Shea making comments like that, those are precursors to. It's his justification, ultimately, to act in Taiwan, right? He's building up his case that we have surrounded them. He's building up the case that they need to take action. And I guarantee you, the rhetoric's going to sound like Putin, where he made a case they had to, because of NATO surrounding them, they had to attack Ukraine.

She is watching. They're going to say, because we have allies in the region, they had to do this. In fact, we forced them to do it.

So you're seeing the rhetoric build up, and it will be justification if we're not careful. I know, Adam, that's something to be aware of. I hope they're thinking about all scenarios because there's not going to be much time to act. We have to have a policy ready to go. And by the way, I think they are looking at what's happening in Russia and thinking to themselves, they have not had any conflict since 1979, and that didn't go well.

How ready are they? Besides, war games, a lot different than an actual war. And if Taiwan is built up and ready to fight, they see what's happening in Russia, the embarrassment, the loss of life, the loss of money, the loss of. Prestige loss of trading partners.

So there is a little bit of a risk that they're seeing now. Final thought? My final thought is: the Chinese aren't the Russians, just like the Russians are the Taliban. And so, at the end of the day, we back down on someone that has a military force, you know, one 1,000th or maybe less in Taliban. Russia's one-tenth or maybe less than us.

That's not the case with Russia, or with China. And so, they're watching and learning. Quite frankly, they're a very good adversary. They're very smart. Half the time I'd look at things, and you'd say, That was pretty smart.

We should have done that.

So, they know what they're doing, and it's not Russia, and the military presence is much stronger.

So, I would assume they're watching, listening, learning, and they have a lot more power than the Russians if they decide to act. All right, thanks so much. Adam, it's always great talking to you. The guy that's been in there in the trenches and the frustration you must feel since all the good you're doing is being threatened. Adam Bowa, thanks so much.

Thank you, Brian. Yep. And of course, Adam had such a big role with the Abraham Accords, which is still together, but they got hurt by what China is doing now. This is the Brian Killmeat Show. Back with your calls and so much more.

Don't move. Learning something new every day on the Brian Killmeat Show. The more you listen, the more you'll know it's Brian Killmeade. This is very serious information that we've received, very troubling information. It does show a pattern that the Biden family was receiving money directly from China.

And the question I have, Sean, is what were they doing in return for that money?

Now, this is just one account. There are many more accounts and many more associates. But fortunately for us, we've had people, whistleblowers that have been coming in. We knew pretty much which account to investigate. Fortunately, the bank did comply with our subpoenas.

Yeah, so the banks aren't helping out. That was Bank of America, James Comer doing the investigation. And again, a hooker-addicted, crack-addicted Hunter Biden, now on the right path, seemingly, with one kid out of wedlock who doesn't acknowledge, which he has to deal with that. But Hunter Biden, it's not about him. It's about what he was doing for his family as a lawyer and the lead guy on investor, which is questionable decisions, again, on Joe Biden's part.

And these other Bidens that benefited. By the way, do they pay taxes on anything? For you and I, if they want to find out, do an investigation with us, if we ever did something that warranted investigation of us, they go through taxes and work their way backwards off in the FBI. I mean, if you basically shouldn't need bank records to find out what kind of money he had. For example, if you just get a house and buy a bigger house and another house and another car and a boat, traveling the world, you have to wonder where the money came from when you file taxes.

At some point, that's what happens sooner or later, you would think.

So the money is, gets paid out from China. Why does it matter? Obviously, almost all these companies, all of them, are hooked to the country, to the nation.

So whether it's Alibaba or CEFC, now defunct energy company. You might work for that company, but you're also paying to the country, providing all intelligence, information and financials to your country, to your government.

So that's the deal you that's the kind of deal you're doing.

So if he's doing that deal with Bryden in or out of office, we should know about it when he goes back into office. Remember with Dick Cheney all these times with Halliburton, when Dick Cheney left office, Secretary of Defense under Bush forty one and came back as Vice President, They said, wait a second, he was with Halliburton the whole time. Is he working for Halliburton? Is he going to start a war so Halliburton could get rich? We knew where he worked, we knew how much he got paid.

We don't know these answers. That's why they're going after them. And every Democrat's trying to protect him. But for those who say wild goose chase, they're still asking for Donald Trump's financial information. He's not even in office.

Brian Killman Chair. Hey, Prime members, top Fox shows like the Brian Kilmead Show, The Five, Fox News Rundown, hundreds of others are available ad-free with your Prime membership. To listen, download the Amazon Music app or visit Amazon.com/slash Brian Kilmead. With Amazon Music, you can access the largest catalog of ad-free top podcasts. Avoid the ads.

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