automotive world. >> sacramento, chicago, a handful of the other cities that have reported problems like this again as people get more brazen across the country. john? >> fast and furious for real. casey stegall, thank you. >> yeah. >> john: a rollicking two hours. >> martha: thanks for joining us. i'm sandra smith. >> john: and i'm john roberts. >> martha: good afternoon. i'm martha maccallum in new york. breaking on "the story," we're in the final hour of trading on a day that has had a lot of investors on pins and needles. the fear is whether we'll see a contagion effect set in at the second and third largest bank failures in united states is history. this is a huge deal. this is a lot of money and tentacles that reach into a lot of different places. not since 2008 in that financial

crisis that we've seen this kind of stunning bank collapse. that's why when president biden before the market came on the airwaves and told the nation that the government would be stepping in. watch. >> no losses -- this is important important. no losses will be borne by the taxpayers. let me repeat that. no losses will be borne by the taxpayers. instead, the money will come from the fees that banks pay in to the deposit insurance fund. >> martha: is that accurate? let's bring in david asman and fox business correspondent susan li. the market sold off a lot early on. bounced back. now it's up 163 points. i want to ask you why in just a moment. first of all, this idea that the taxpayer is not on the hook in any way for this.

let's play this janet yellen sound bite. >> during the financial crisis, there were investors and owners of systemic large banks that were bailed out and were certainly not looking and the reforms that have been put in place means that we're not going to do that again. >> martha: okay. david, there's no bail-out and no taxpayer dollars. so where is this money that is sweeping in coming from? >> it's the manna from heaven. it appears, this parallels this whole talk of being able to print as much money as you want for as many programs with no consequences. there will be no inflation. janet yellen, she's admitted now that she was wrong. she said there's not going to be greater inflation. there was inflation. whatever inflation would be transitory. it was. . so she's been wrong. this actually is exactly why svb

got in trouble in the first place. this is the first bank failure that was caused by adherence to woke beliefs and policies. the woke belief that you can just print money without consequence led to them thinking that there wouldn't be any increase in inflation, there wouldn't be any increase in interest rates and they could invest their own bank on these very low interest rate treasury bonds. of course, when interest rates went up, their money was stuck in these bonds. if they pulled it out, they would have to pay a penalty. that would have broken the bank. that's where they were. they believed in janet yellen. we knew the rates wouldn't going to stay the same because of the trillions that have been spent. it was that belief in what is called modern monetary theory that you can print, print, print. the regulators were not watching this bank because they believed

in all of that, too. they too believe that there was nothing wrong in investing with that wrong strategy in their heads. >> martha: this is the problem behind group think. when you have this policy, susan, where you're printing trillions -- people might say wait, what does it have to do with any of that? it has to do with this bank. when you have this monetary policy that leads to inflation and let them to have the best that they had made to secure their investments and deposits, it puts them in a tough position interest rate -wise. j.p. morgan had a negative buy rate. they said that they were concerned about svb. then you have the ceo pulling out 3.5 million, selling his shares in the companily before this happened. so people did know that there were some red flags here. why didn't the regulators know,

susan? >> definite mismanagement. he paid thousands in individual bonuses just a few hours before declaring bankruptcy on friday morning. also, this mismatch, where was the risk management in this bank? it's been around 40 years. how did you not know when you work in venture capitol that a lot of your depositors need their money back short term. why would you put up to $70 billion in longer dated maturities of treasuries which you can't cash out until ten years later? also, i want to note that a lot of people in silicon valley that i have spoken to, a lot of the censure capitalists and sounded alarm earlier that led to the panic at the bank, they told their portfolio companies start taking out your money. they were concerned about the coziness with silicon valley bank and the venture capital funds. because they started with $60 approximately in deposits back

in 2020 or something like that, went up to $200 billion because of those low interest rates. they needed somewhere to put the money. where did they put it? in the venture capital funds. >> people listen to this and say that doesn't affect me. i didn't invest in that stuff. i don't have money in that bank. here a capitalist talking about the larger reaching effects that could affect us. >> politically it's impossible not to extend the same full unlimited deposit guarantee to all banks. >> martha: that's a big warning, mohammed. >> it is. you know, once you do it for one bank, it's hard not to do it for another. >> that's really the question. how far is this going to go? i didn't fully answer your question. no cost to taxpayers is what the president is saying, what janet yellen is saying. that's not true. even looking at it in the best

possible way, if in fact there's not a spread of this any further, it will increase the cost of capital. that means every time folks out there want to take a loan for a car or a house or whatever it is, they're going to have to put in more money because in order to fill up the fdic insurance fund, which is now going to be increased, we're going to have to pay more for our loans. so the increase in capital is definitely going to affect taxpayers and could be worse if this spreads. >> i believe there's a limit of $300 billion. it's not a technical bailout because stock and bonds holders are wiped out. just a reminder, tarp was an unpopular movement in 2008. the government made $15 billion long-term, effect, to spread out that $400 billion. >> there's companies like roku that most people know, they put $480 million in to this bank.

>> those are their deposits. >> but it was uninsured. the question is whether the companies made the right decision. i would consider that to be kind of badly informed investments of where you put your cash. >> martha: yeah, it would make sense that you have a diverse portfolio and a company needs to spread the money around to share the risk in different places. mary daly, the bank of the san francisco, this is their job. this is why it's in place. so they fail at their job and then the government has to bail them out. you know, it's like layers and layers of bureaucracy. >> remember who the top regulator was going to be. educated in the soviet union. she pulled out her name. there's a lot of people like her doing the regulating of banks. >> guess who is on the board of san francisco fed? greg becker, svb's founder.

>> martha: want to watch the market as trading is up 100 points. bret baier is here in new york today and karl rove. former president trump heads to iowa. he's running for president. he's one of the few declares candidates out there right now and he will be in iowa following ron desantis who has not declared yet. a live report from texas after this shocking video of over 1,000 migrants trying to force a potential mass entry in to the united states. just think for a moment, what other border could this happen at? when we come back. disease for years and things are a no-go because you keep seeing double, it's not too late for another treatment option. to learn more visit treatted.com that's treatt-e-d.com.

>> incredible video that we shot in el paso, texas. fox's own video here. it's an astonishing scene. a massive group of 1,000 migrants pushing past mexican officials and trying to rush the port of entry in el passion so. u.s. border patrol and many mexican military responding with a show of force after the deployment of physical barriers to restrict entry. bill melugin broke this story. he's live in mission, texas. hi, bill. >> martha, good afternoon to you. that big rush of migrants actually caused cbp to shut down that port of entry for several hours as they tried to get things under control out there in el paso. as you mentioned, exclusive fox news video, take a look. we were there as this first began as you see a mass of 100 migrants pushing past mexican border guards and rushing up to the bridge in el paso.

you're looking at families, little kids. you can hear them cheering. we're told by the migrants what started this, there was a false rumor on social media that if they showed up to the bridge yesterday, they would be let in to the united states. obviously that wasn't true. that was a false rumor. they went up on the bridge in an effort to get in to the u.s. cbp had to respond with a massive wave of manpower. they had a skirmish line and blockades and physical barriers set up in the middle of the bridge. you'll see the migrants going face to face with some of the cbp agents. they called in a special response team. the mexican military had to be brought in as well. this is a scene that you don't see in a part of enry every day. mexican soldiers guarding their side. you can see a blockade from cbp. cbp tells fox news is the reason they had to do that, a large

group of individuals formed on the mexican side and approached the international boundary. the cbp response included the deployment of physical barriers to restrict entree. cbp says that happened at two other bridges yesterday that they temporarily had to shut down. the migrants tell us some of them lad been waiting in mexico for two months. they felt desperate. when the rumor circulated, they felt it was their chance and wanted to capitol idea on it. >> martha: a volatile situation, bill. with that, we bring in lieutenant chris olivarez from the texas department of public safety. thanks very much. good to have you here. so is this -- does this disturb you? is this a sign of things to come? this was happening at three different bridges. how do you interpret this. >> it is shocking. we have to acknowledge the fact that we had just an increased

presence of law enforcement, customs and border protection, the mexican military working to repel the immigrants. it goes back to this temporary real the federal government put in place. so many emigrants are waiting in mexico trying to get across. there was many different i guess attempts or reasons why these individuals are trying to surge the border. case in point, there was a social media post that was sick lating saying pretty much right now is the time to cross. you'll be released in to the country. that's why you saw so many individuals, single adults trying to surge the border. there's no effective strategy or policy put in place to stem the flow. you also create a much larger backlog in mexico with the cbp app this is not working right

now. >> this is karine jean-pierre when she was asked about the situation at the border sunday. watch. >> we're going to move forward with this kind of system, this immigration system that has been gutted, truly gutted by the last administration. we're going to do it in a humane way. we're going to do it in a safe way and we're going to do it in a way that move us forward. so what we have been seeing, what we've been dealing with is trying to fix the damage that the last administration did. >> martha: do you know what she means by that? >> martha, i can tell you, we know for a fact the numbers speak for themselves. prior to 2021, we didn't have the situation we have right now. we talk about the cartel event last week. that's why we're urging as a state for anyone thinking traveling to mexico to avoid it with the increase violence of cartel activity. >> martha: this is not a good spring break year in mexico as

well. what about the safety of your agents? what are they allowed to do to protect themselves in this situation? this could have easily become very dangerous. >> well, absolutely correct. of course, we have specialized teams that can manage such large crowds, especially crowd control. they're specialized training. of course, it's always a threat when you see that number of people coming across. there's always a threat to any law enforcement trying to repel the groups or being on the front lines. >> martha: it's such a tough job and they have not gotten the support that they need at the federal level. you hear that answer from the white house. feels like there's a big disconnect and how it's being handled. we'll see where it goes. thanks very much, chris olivarez. >> thank you. >> martha: florida governor ron

desantis testing the 2020 waters with stops in florida and nevada at biden signs off a oil drilling project. a huge turn around about drilling on federal land. an ahead of an announcement if he is also going to run for re-election. karl rove and bret baier up after this. >> in florida, we're fighting back against the ccp. we have already banned things like confucius institutes at colleges and universities. i'm going to sign legislation in the upcoming weeks that will prohibit any ccp-linked business from making land purchases in the state of florida. much bette, but i struggled with uncontrollable movements called td, tardive dyskinesia. td can be caused by some mental health meds. and it's unlikely to improve without treatment. i felt like my movements were in the spotlight. ingrezza is a prescription medicine to treat adults with td movements. ingrezza is different. it's the simple, once-daily treatment proven to reduce td

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>> martha: former president trump making his first trip to iowa suns announcing he was going to run again. florida governor ron desantis was there last week and tim scott who is also widely expected to jump in this race. we'll see what happens with that. the republican race could get crowded shortly. right now nikki haley is running. let's go to cart rove from american crossroads. good to have you here. your thoughts as we look at this heating up a bit.

the former president heading to iowa. ron desantis haas been there and expected to make a trip soon to new hampshire. >> yeah, he had a terrific visit in texas this past week. stopped at the harris county republican event. each county raised more than a million dollars. he went to the reagan library and did a fund raiser for orange county. he will be in iowa and nevada. he's starting to get out there. >> martha: here's a look at some of the recent polling. this was towards the end of february. donald trump at 43%. ron desantis at 28%. you talk about the money that has been raised, karl. a lot of the big money has drifted away from the former president. a lot has gone to ron desantis and some other candidates as well. you know, how much does the money matter in a world where so much is based on social media and other ways of reaching voters as we saw in 2016?

>> yeah, it matters. you're right. there's other -- it's cheaper because of social media to conduct. you still need to have staff. it's important to have people on the ground in order to organize turnout. iowa is a caucus state, not a primary state. you have to get your supporters to go to a location and vote. it gets to be -- it's quite an enterprise requiring an expenditure of dollars on organization. and to get known unless you're a donald trump and ever know whose you are, you have to still advertise on radio and television and cable news on who you are and what you're about in order to get your message out. these are expensive. raising sufficient funds is critical. we'll see candidates between now and january and february of next year that have to fall out because they were unable to raise enough money. >> martha: in iowa, the former

president very favorable numbers. 80%. ron desantis' number is at 74%. what do you think is the decisive factor in early going in a place like iowa between these two? >> yeah, first of all, these numbers really don't mean much. people don't know who candidates are other than donald trump. they know him because he was president for four years. he's been a factor on the scene ever since he lost in 2020. so they know a lot about him. they don't know much about the others what surprises me are desantis' numbers having been essentially the governor of florida for one term and all people know about him is he's governor of a successful state. he won a big re-election and he's taken on woke and they want to know more about him. the key for any candidate is to get known in iowa in 99 counties by booing up close and personal. the people of iowa talk this job seriously. they want to see it multiple

times in their county. once they make a commitment, they're stuck with you. the former president got 24% in the iowa caucuses in january of 2016. he's going to face a tough battle if these candidates keep going there and digging in and building their own structure. he ran second behind ted cruz. he got 7 of of the 30 delegates. he's that to better than that in january. >> martha: thanks, karl. with us now here on the set, chief political anchor, bret baier. great to have you here. a lot of people sensing this is heating up. looks like tim scott will get in. how does this look to you in terms of how it's shaping up with this unusual situation of a former president, four years

removed from office who is back in the ring? >> usually we look at these things as lanes. who has what lane. i think that right now you're trying to figure out which lane is going to be with which candidate. tim scott looks like he's getting in as the fresh face lane. happy warrior lane. but that's now starting to get crowded. you have nikki haley doing that same pitch. ron desantis -- >> martha: also from south carolina. >> yes. looks like ron desantis will announce in june after the legislative session. so at that point, at what number does it start to benefit the former president by more and more numbers chipping away at the fresh face hope for voter whose are looking for something different? >> martha: he's hoping that everybody gets in, right? then it's a much smaller margin to make it through the primary. get your thoughts on president biden. he's talking about drilling --

has announced they're going to open huge north slope drilling in alaska. here's what he said march 15, 2020 about his policy towards drilling on federal lands. watch this. >> no more subsidies for fossil fuel industry, no more drilling on federal lands, no more drilling offshore. no more ability for the oil industry to drill. ends. >> martha: but today he announced the largest oil drilling project in decades. >> yeah. you'll have folks on the left, progressives and environmentalists say this is turning your back on what you said on the campaign. few he is and looks like he is heading towards a re-election bid, he's making a move to the center because he knows that will be a major aggressive point of view from the republican side to say you didn't allow all of this domestic production. >> martha: you have to wonder --

i thought it was interesting the first lady said whatever he decides to do, we will support him. that tells me there's an open question there. >> it's not 100%. you talk to people in washington, they say yeah, i think it's going to happen. but then there's this sliver of doubt even in democratic circles that say i'm not sure if he's pulling the trigger. i think the going bet is he's going to and this is part of that. setting the table to run more towards the center even though you look at the beginning of he it's administration. it was a hat tip to the progressive said. >> martha: he said i'm going to be a bridge to the future. at that point felt like that meant that maybe he would only do one term. who knows. maybe he returns to that phrase when he makes an announcement. on "the view" they're talking about the vice president who becomes very important in this equation. here's what they had to say. watch this.

>> i think there's some concern about just the lack of a policy accomplishments that she's made as vice president. >> i'm surprise there's concerns. it has a lot to do that she's a black women. black women get everything done. we've saved this country's democracy -- >> she's done what specifically? >> she was in the senate, attorney general, president. the inflation reduction act. i mean, she's -- >> what did mike pence do? >> the list goes on and on. >> not sure about the list. you can't point to one specific thing that wow, vice president harris really knocked out of the park. you talk about the border crisis, other things that she's being headed up. then you have all of the argument that are mysteriously showing up about doubts about her future. so we'll see. it's fascinating. >> martha: it sure is. there is a bit of a struggle to come up with some list items there. she's a person to watch in all of this as we move forward. great to see you.

>> you too. >> martha: thanks for being here today. bret baier, "special report" at 6:00 from here. >> i'll be here. >> martha: coming up, virginia's largest school district is now responding after a controversial question on an a.p. government test. have you seen this? it uses stereotypes like young white males to identify whether one is conservative or liberal. there's an even deeper layer to this question. winsom sears who made history becoming the first black woman as lieutenant governor of virginia on "the story" next. >> i'm telling you, what you're looking at is the american dream, the american dream. when i joined the marine corps, i was still a jamaican. but this country had done so much for me, i was willing to die for this country.

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>> martha: this is remarkable. a virginia school district is doing damage control after an ap test asked high school students to pick the most accurate description of liberals and conservatives. one parent calls it infuriating. winsome sears is standing by. but first, mike emanuel lays this out for us. >> one father said regardless of your politics, this should make you furious. under the liberal column, middle age urban lessian. white upper middle class suburban male. under the conservative column, the choices are east coast ivy league educated scientists, sail male migrant laborers, catholic midwestern middle aged male, west coast hispanic teacher leading a fairfax virginia dad with a background in politics to blast the school system.

>> telling a students that certain people belong in a political philosophy because of who they are, what their gender is, what their race is. that's not following political trends. that's telling somebody that they should believe one certain set of beliefs because of their identity. >> in a statement to fox news, the school sample says fairfax county schoolses says the question was designed to understand 12th graders using of american ideology did not meet the division's high expectations. the question will be removed from future tests. the college board, the national organization that creates an overseas advanced placement programs denounced the question saying "we did not and would not create a question like that for ap students. neither the content or the format is appropriate for an ap

exam ", this is the latest embarrassment for one of the nation's largest school districts. >> martha: thanks, mike. with that, we bring in winsome sears. good to have you here. this question is disturbing on a number of levels. curious what you thought when you saw this question. >> of course, i was very angry about it. what it is doing is dividing us. parents don't send their children to school for divisive concepts. that's what governor youngkin just talked about on another program. we want our children to learn about math, science, reading, et cetera. this is nonsense. history. our children are already behind and these kinds of questions divide them. turns one group into oppressors and the other group into the

oppressed. low morale. you wonder why there's so many fights in schools. that's why parents need to be continue the be vigilant. you have to care because this is how these things come out to us. that's why we know what's going on in our schools. >> martha: one of the responses to roy cooper said you may not like it but this question is supported by demographic data. you may hate the demographics but they are what they are and ignoring them doesn't change them. what do you say to that? >> you know, here we are -- what century are we in? we're trying to reach all peoples. we're saying don't put people in boxes. i'm sitting here, an immigrant, black, woman, veteran, former small business owner, et cetera

and yet i have chosen a political party than what other people might think. we in america will make these decisions for ourselves. we don't need poll situations to save us. we don't need politicians who are going to divide us. the very people notice the progressives who continue to say people ought to be who they want to be, don't stereotype anyone. they're the ones that are doing the stereotyping. so it is sufficient to say that america must remain america. we've got to be a free country. otherwise, you see what we turn into. some group made this kind of a question or a person. we're going to find who that person is in the groups. the parents, you have to make different decisions when it comes to elections. they have consequences. you can't keep voting the same way expecting different results. >> martha: what disturbed me

about this question, it's an american government course. it professes to explain the differences between america political ideology and yet the question doesn't ask these students, you know, which group favors smaller government, which group favors larger government. which group tends to favor traditional values, which group tends to favor more progressive values. that would actually educate them more about what the differences are between liberalism and conservatism and they can debate that and look at that all they talk about is skin color and how their political thoughts are. >> so now we know that people think of us as black people, latinos, asians. they see us as one way and one way only. that's how we benefit their

political party and their persuasions. >> martha: it's a shame. kids should graduate having a sense of what the differences are tweep these two political ideologies. they're not learning it in this particular test. lieutenant governor sears, thank you for coming on today. >> thank you. >> martha: so china's president chi takes a starring role as power broker with iran and saudi arabia in a shifting global power structure. how serious is this? how much power has the united states lost in this equation? general keith kellogg with how he sees this next. >> i'm very concerned that it looks a lot like 1936 all over again. an axis of power of russia, china, north korea and iran bounding together against the freedom and values of what america represents. an elevator. here goes nothing. but for a young homeowner becoming their parents, it's a learning opportunity.

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>> martha: china's president xi assuming the role of power broker in the middle east orchestrating a deal to restore diplomatic relations between iran and saudi arabia, which they have not had for seven years between the two countries. reportedly planning an unpreshe debted summit with leaders in beijing later this year as the united states and israel appear at least at this moment to be very much on the sidelines of all of this. let's bring in general keith kellogg, co-chair for the center for american security and a fox news contributor. good to have you with us. thanks for being here. this is obviously a big development. so now you've got president xi playing this role of power broker in the middle east, a place that the united states has typically had a lot of sway and

influence and de -- diplomacy. what does this mean? >> this is quite large. it's huge for the entire world. they have broker add deal between the iranians and the saudis. that scenario that we've done the last 75 years. the prince has said i'm going to align myself more with the chinese than the americans. that's significant. what is xi doing next week? next week he goes to moscow. he's going to push his peace plan, going to pick up the phone and call zelensky, which he's not done since the i vaccination started and try to broketer peace plan going forward. what has he done here in south america? he's increased trade from $12 billion a few years ago to over $300 billion. what did he do today? this is president xi. in a party of congress, he talked about the reunification of taiwan with china. what is his foreign minister say about this? this used to be the ambassador of the united states.

he said there's appear odd of conflict and confrontation with the united states of america. they're building a huge case. they're creating an area where they're involved where there's a void. the void is the united states leadership. we look at china and say they're a competitor. france is a competitor. the sooner we realize that, the better off we'll be. >> martha: this is president xi in that speech in beijing. let's listen. >> we should further advance our military drive in term of national defense and turn china's military into a great wall of steel that will defend the country's sovereignty. >> martha: it's not just their country, the expansion in the south china sea, the building of military bases and the threat that that is to the philippines and other areas in that ring. we better wake up here, right, general? >> yeah, we do, martha.

they're trying to push us away from what we call the first island chain. that means taiwan, japan, that means philippines. we have not reacted to that at all. there's a good first step that we're taking and we signed today with the aucus agreement that we're providing nuclear technology to build three l.a. class attack submarines and develop that technology with the britts and with the australians. it's not been done before. the australians never had the technology and the britts have never transferred that technology either. there's a good first step. we're always late to it. we have to change our national security strategy and address it. >> martha: great point about the submarine technology. very important move for that region. we'll see where it goes. thank you very much, general. good to see you. >> thanks, martha. >> martha: so a special series digging in to the mental health of teen girls in america.

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>> martha: very important story for our country, a cry for help. that's what the cdc is calling a survey about teenage girls and their mental health. it shows that they're experiencing record high levels of violence, of sadness, of suicide risk. now two girls that suffered themselves are trying to help other teens. gillian turner with a live series on this for us from washington. hi, gillian. >> hi, martha. take a look at this 17-year-old caroline zuba explains it after selfing the effects of trauma for months. she began cutting herself and was hospitalized six times for mental health emergencies. take a listen. >> i kept this a secret a long time. as time went on, the cuts got worse and deeper.

i would go on long walks for hours and hours. i would plot like how i was going to end my life. eventually i did find a way and i attempted. that is when the hospitalization started. >> over the past year, 13% of teen girls in america attempted suicide. 1 in 3 seriously considered it and three in five first so persistently sad that they stopped regular activities. ingrid tells me that girls' battles are often invisible. >> it's not treateds a a legitimate problem until people see the suicide rates. they're like oh, well, we never knew. feel like this battle can never be won. but then what is winning exactly? like i said, like sometimes automatic you can do is say i'm here and i'm doing my best and i'm surviving. >> the stats are called a

disturbing wake-up call. >> to me that is a cry for help about just shows there's so much going on. >> caroline's mother says that her daughter's struggle had reverberated through her entire family. >> i will never forget the day my daughter's guidance counselor called me. she said you need to come down to the school. your daughter has been cutting herself. mental illness is not bias. can it happen to anyone. >> so caroline and ingrid have now started a mental health support group at their high school. they're aiming to help other teen girls struggling with invisible demons. they also hope to become advocates for teen girls one day. martha? >> such a complicated teenage life these days that has just -- the impact of the anxiety that comes from social media and all of this we're just beginning to understand and need to put

guardrails around it to help these young women. thank you. look forward to your next pieces on it. that's "the story" for this monday, march 13th. 2023. as always, "the story" goes on and we'll see you back here tomorrow at 3:00. thanks for being with us. the dow down about 100 points right now on a stressful day in the wake of these bank closures. "your world" starts right now. >> as soon as we started to hear rumors, we tried to open up additional bank accounts to be able to she if we could attempt to wire our money out. you weren't even able to open an account. >> i cannot believe it. this is -- i did not expect this. >> they're just holding our funds and not paying us. that's a little scary. >> if there's any question, i want to empty my accounts and bring it to another bank.