At SXSW Nancy Pelosi talks democracy. Here's what she said about border, banks, extremism

Former U.S. House Speaker Nancy Pelosi told the audience at a South by Southwest political panel in Austin on Sunday that democracy has been growing stronger ever since the signing of the U.S. Constitution.

However, she said, threats of political violence, extremism and decisions such as Dobbs v. Jackson, the U.S. Supreme Court ruling that overturned Roe v. Wade and eliminated women's constitutional right to abortion, are reflections of democracy's status at home and abroad.

"It's about our example. I have no doubt that we will have a path to strengthen our democracy as a model to the world," Pelosi said. "That doesn't mean suppressing; it means respecting other views, but to do so in a way that, again, honors the oath of office to protect and defend the Constitution of the United States."

Pelosi, D-Calif., who served two stints as speaker and had led House Democrats since 2003 before leaving the post in January to Rep. Hakeem Jeffries, D-N.Y., acknowledged her own experience with being a target of political violence.

"My dear husband, Paul, was able to make this trip. This is highly unusual, but he's getting out now," Pelosi said.

He was attacked with a hammer by an intruder at their San Francisco home in October.

"I was the target, he paid the price, and you can just imagine what my sentiment is about this," she said.

Briefly touching on global competition with China and the ramifications of the Russia-Ukraine war, Pelosi went on to discuss issues related to the U.S.-Mexico border and a bank failure threatening the technology industry during the SXSW panel Sunday hosted by The Atlantic and moderated by Evan Smith, co-founder of The Texas Tribune.

Texas and the border

Declaring it a responsibility to protect the border, Pelosi flatly denied claims that the Biden administration is considering reinstating a Trump-era rule that allowed law enforcement to detain migrant families that crossed the border illegally.

Pelosi said such a potential deal or policy change, as reported by the New York Times last week, is simply not on the table.

"The president has never said this," Pelosi said. "This was a notion that was floating in the Department of Homeland Security. It didn't receive resonance or even the support of the secretary" of Homeland Security, Alejandro Mayorkas.

Pointing to lawmakers' need to consider the contributing factors driving global migration, such as crime, economic instability and climate change, Pelosi said those factors should be examined before migrants reach the U.S. border.

"I think that we should be doing the adjudication of it at a previous border like Guatemala, Mexico," Pelosi said. "But in any event, the president never said" he'd reinstate the Trump-era policy.

Meanwhile, in the Texas Legislature, Republicans in both chambers have constantly blamed Biden for the influx of drugs and immigrants at the border.

As bill filing for the 88th Legislature closed Friday, Texas House Speaker Dade Phelan, R-Beaumont, included in his priorities a proposal to create a "Border Protection Unit" that would be able to arrest, detain and deter those who cross into the country illegally.

House Bill 20, filed by Rep. Matt Schaefer, R-Tyler, would create the law enforcement unit stationed on the border and give it oversight of construction and maintenance of physical barriers on the border.

In the Texas Senate, a proposal from Sen. Brian Birdwell, R-Granbury, would create a misdemeanor or felony charge for anyone who "enters or attempts to enter this state from a foreign nation at any time or place other than as designated by United States immigration officers."

Lt. Gov. Dan Patrick, who presides over the state Senate, said Senate Bill 2424 showcases the chamber's commitment to beef up border security as well as the $4 billion included in its base 2024-25 biennium budget to fund Operation Lone Star, the governor's joint mission launched in March 2021 involving the Texas Military Department and the Department of Public Safety to stem the flow of illegal immigration and drugs, such as fentanyl, across the southern border.

The Mexican American Legislative Caucus has already expressed vehement opposition to HB 20, and House Democratic leader Trey Martinez-Fischer, D-San Antonio, called it a "tinderbox."

"Let's be clear — HB 20 is a 'Show me Your Papers' bill being enforced by a new state police force," Martinez-Fischer tweeted Saturday. "This legislation is a tinderbox waiting to explode that will leave this session in flames. And House Republicans have been warned."

Buyout for Silicon Valley Bank

A central bank for technology startup capital failed Friday, succumbing to a "bank run" that has left many wondering if there's a fallback other than the federal government.

Pelosi, whose congressional district is across the San Francisco Bay from the Santa Clara-based Silicon Valley Bank, said that there "isn't much appetite" for a government bank bailouts and that other suitors, along with regulators, need to move now to protect depositors.

"Whatever any differences of opinion that anybody has about how we go forward, they want it to happen by tomorrow morning before the markets open," Pelosi said at the SXSW panel Sunday morning.

The Federal Deposit Insurance Corp. has taken over the bank, saying that deposits will be available Monday morning, but the federal government insures deposits only up to $250,000 per depositor.

A vast majority of Silicon Valley Bank's deposits are uninsured, a unique characteristic of the bank due to its customers being largely startups and wealthy tech workers.

The bank’s failure has also raised concern about a repeat of the 2008 financial crisis, but Treasury Secretary Janet Yellen sought to reassure Americans that the collapse is an isolated incident while also declaring a lack of interest in stepping in.

More:Silicon Valley Bank failed. FDIC covers some of the money, but only up to $250,000.

“We’re not going to do that again," Yellen told CBS’ “Face the Nation” on Sunday. “But we are concerned about depositors and are focused on trying to meet their needs.”

Similarly, when asked about a potential deal to buy the bank, Pelosi said that amid concern for technology industry participants, and specifically individual depositors, a private purchase of the bank is a real possibility.

"It's about the depositor, and hopefully somebody will buy the bank," Pelosi said. "But I don't see any appetite for the federal government to bail out the bank."

This article originally appeared on Austin American-Statesman: Former Speaker Nancy Pelosi talks democracy, border at SXSW in Austin