US government steps in and says people
with money deposited at SVB will be able
to access their money
Posted By: Dreadnought, 3/12/2023 6:56:50 PM
Banking regulators devised a plan Sunday to backstop depositors with money at Silicon Valley Bank, a critical step in stemming a feared panic over the collapsed tech-focused institution. Regulators said depositors at both SVB and Signature Bank in New York, which also has been closed, will have full access to their deposits. The Treasury Department said it approved of plans that would unwind both institutions "in a manner that fully protects all depositors." Those with money at the bank will have full access starting Monday. The Federal Reserve also said it is creating a new Bank Term Funding Program aimed at safeguarding institutions impacted by the market instability of the SVB failure.
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A Russian Su-27 fighter jet collided with an American MQ-9 Reaper drone over the Black Sea on Tuesday, the U.S. military's European Command said. U.S. forces brought down the drone in international waters, European Command said.
"Our MQ-9 aircraft was conducting routine operations in international airspace when it was intercepted and hit by a Russian aircraft, resulting in a crash and complete loss of the MQ-9," said U.S. Air Force General James Hecker, commander of U.S. Air Forces Europe and Air Forces Africa.
"In fact, this unsafe and unprofessional act by the Russians nearly caused both aircraft to crash," Hecker said.
Florida Gov. Ron DeSantis, a potential Republican presidential candidate, broke with many in his party Monday and told Fox News host Tucker Carlson that protecting Ukraine is not a "vital" national interest for the U.S.
“While the U.S. has many vital national interests — securing our borders, addressing the crisis of readiness within our military, achieving energy security and independence, and checking the economic, cultural, and military power of the Chinese Communist Party — becoming further entangled in a territorial dispute between Ukraine and Russia is not one of them," DeSantis wrote in a questionnaire response Carlson posted on his Twitter feed.
U.S. bank stocks jumped on Tuesday, recovering some ground after the failure of Silicon Valley Bank and Signature Bank triggered heavy selling by investors who were already anxious about the impact on lenders of rising interest rates. Worries about potential contagion had also slammed bank shares in Asia and Europe as investors re-examined their risks, despite assurances from U.S. President Joe Biden and other global policymakers that the financial system is safe.
An indicator of credit risk among euro zone banks hit its highest since mid-July, while ratings agency Moody's cut its outlook on the U.S. banking system to negative from stable "to reflect the rapid deterioration in the operating environment".
Justice Department and SEC to probe stock
sales ahead of Silicon Valley Bank collapse,
report says 9 replies
sales ahead of Silicon Valley Bank collapse,
report says 9 replies
The US Department of Justice and the Securities and Exchange Commission are investigating the collapse of Silicon Valley Bank, The Wall Street Journal reports, citing people familiar with the matter.
The tech and start-up-focused lender based in Santa Clara, California, was taken over by regulators on Friday during a run on its deposits, making it the second-largest bank failure in US history. It is not unusual for there to be such investigations when large financial institutions or public companies collapse or suffer unexpected losses, but the separate probes will also look at stock sales that company bosses made days before the bank failed.
Shares in SVB Financial Group,
Facebook-parent Meta plans to lay off another 10,000 workers, marking the second round of significant job cuts announced by the tech giant in four months.
The latest layoffs, announced on Tuesday, come after Meta said in November that it was eliminating approximately 13% of its workforce, or 11,000 jobs, in the single largest round of cuts in the company's history.
In a Facebook post Tuesday, CEO Mark Zuckerberg said the job cuts will take place "over the next couple of months."
SAN DIEGO — President Joe Biden is expected to sign an executive order on Tuesday aiming to increase the number of background checks to buy guns, promote better and more secure firearms storage and ensure U.S. law enforcement agencies are getting the most out of a bipartisan gun control law enacted last summer.
The Democratic president plans to address his latest efforts to curb gun violence in a speech from Monterey Park, California. In January, a gunman stormed a dance hall in the community near Los Angeles and shot 20 people, killing 11, following a Lunar New Year celebration.
Biden’s rhetoric has only grown stronger around guns
A giant seaweed blob so large it can be seen from space is threatening to transform beaches along Florida’s Gulf coast into a brown morass, scientists say.
The 5,000-mile-wide sargassum bloom — believed to be the largest in history at twice the width of the continental US — is drifting ominously toward the Sunshine State, NBC News reported. “It’s incredible,” Brian LaPointe, a research professor at Florida Atlantic University’s Harbor Branch Oceanographic Institute, told the news outlet.
“What we’re seeing in the satellite imagery does not bode well for a clean beach year,” he added.
The thick algae mats are mostly harmless as they drift between Africa’s western coast and
Former President Donald Trump is intensifying his attacks on Florida Gov. Ron DeSantis, calling him disloyal and saying that his political career would have been over had he not endorsed his ultimately successful 2018 campaign.
“He was dead as a dog, he was a dead politician. He would have been working perhaps for a law firm or doing something else,” Trump told a small group of reporters aboard his plane on Monday afternoon en route to Iowa, where he was to make an appearance that evening.
Asked if he regretted endorsing DeSantis for governor in 2018, Trump responded: “Yeah maybe, this guy was dead. He was dead as a doornail.
The past few weeks has proven that the freedom of speech enshrined under the First Amendment is under assault by our government. Independent Journalists Matt Taibbi and Michael Schellenberger‘s March 9 testimony before the House Select Subcommittee on the Weaponization of the Federal Government revealed just how determined Democrats in Congress are in silencing any speech that they do not agree with and any platform that chooses to disseminate said speech. Both Taibbi and Schellenberger are progressive Democrats who voted for Joe Biden. Yet, because they hold the First Amendment and truth as a higher standard than political agendas and allegiances, they have been maligned and targeted as disinformation agents.
Sen. Tom Cotton (R-AR) said in a tweet Monday that the Biden administration refused to commit to not bailing out Chinese companies that invested in Silicon Valley Bank (SVB) with American taxpayer money.
“It’s well known that SVB funneled American money into Chinese companies,” Cotton tweeted. “I pressed the Biden administration today to commit not to bailout Chinese companies with money from Arkansas’s taxpayers, but they refused. Which tells you that’s exactly what President Biden plans to do,” he said. Silicon Valley Bank had supported many start-up companies, including those from China, according to a CNBC report.
Rice University Study: Trump Policies
Cut Illegal Immigration, Biden Policies
Encourage Inflow 16 replies
Cut Illegal Immigration, Biden Policies
Encourage Inflow 16 replies
Former President Donald Trump’s policies at the United States-Mexico border helped deter illegal immigration, while President Joe Biden’s policies are encouraging record-setting inflows, a new study suggests.
The study, conducted by Rice University’s Baker Institute for Public Policy, compares the size and scale of migrant caravans under Trump versus those that have arrived under the Biden administration. Trump’s policies, which included the Remain in Mexico program, eliminating the Catch and Release process, and imposing the Title 42 public health authority, served as a deterrent for border crossers and illegal aliens, the study found.
The U.S. government may have made duplicate payments for projects at labs in Wuhan, China, through the National Institutes of Health (NIH) and U.S. Agency for International Development (USAID), according to records reviewed by CBS News.
"What I've found so far is evidence that points to double billing, potential theft of government funds. It is concerning, especially since it involves dangerous pathogens and risky research," said Diane Cutler, a former federal investigator with over two decades of experience combating white-collar crime and healthcare fraud.
Cutler found evidence of possible double payments as she investigated U.S. government grants that supported high risk research in China leading
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Former President Donald Trump is intensifying his attacks on Florida Gov. Ron DeSantis, calling him disloyal and saying that his political career would have been over had he not endorsed his ultimately successful 2018 campaign.
“He was dead as a dog, he was a dead politician. He would have been working perhaps for a law firm or doing something else,” Trump told a small group of reporters aboard his plane on Monday afternoon en route to Iowa, where he was to make an appearance that evening.
Asked if he regretted endorsing DeSantis for governor in 2018, Trump responded: “Yeah maybe, this guy was dead. He was dead as a doornail.
Even as Jan. 6 Narrative Implodes, Pence
Still Blames Bad Orange Man for Endangering
His Life 43 replies
Still Blames Bad Orange Man for Endangering
His Life 43 replies
Mike Pence is running hard to be the Mitt Romney of 2024, the controlled opposition establishment Republican nominee who will run for president and lose gracefully. Or if he somehow wins, he will do the Left’s bidding, but in a restrained, ostensibly conservative way. The formerly genuine conservative Pence showed that again Saturday at the Gridiron Club dinner in Washington, an annual event where speakers usually keep things light. The famously stone-faced former veep may have been incapable of cracking jokes, but he sure went all-in on making his remarks as heavy as possible and signaling that he would happily carry water for the Left,
“Everything Everywhere All at Once” was named best picture at the 95th Academy Awards on Sunday, capping off an improbable awards season run by winning the movie business’s highest honor.
The film, a gonzo adventure about a Chinese-American laundromat owner grappling with an IRS audit and inter-dimensional attackers, earned seven statues, including original screenplay and directing honors for its creators Daniel Kwan and Daniel Scheinert (collectively known as the Daniels). The victory is a triumph for A24, the indie studio that pushed the zany film to an impressive $100 million at the box office, a stunning achievement at a time when the market for arthouse movies has shriveled.
Joe Biden is making his first appearance on The Daily Show since taking office as the president of the United States — and weighing in on attacks against LGBTQ+ Americans — sitting down with actor and former Obama administration staffer Kal Penn for a segment airing Monday night. (Snip) The president continues: "I turned and looked at my dad, and he said, 'Joey, it's simple, they love each other.' ... It's just that simple. It doesn't matter whether it's same-sex or a heterosexual couple, you should be able to be married. What is the problem?" Biden made history as the vice president in
President Biden on Monday blamed the collapse of Silicon Valley Bank and closure of Signature Bank on former President Trump's 2018 decision to scrap some Obama-era banking regulations. "Unfortunately, the last administration rolled back regulations," Biden said. Biden also offered assurances that the U.S. banking system is "safe and secure." "Americans can have confidence that the banking system is safe," Biden said in remarks at the White House before leaving for a three-day visit to California and Nevada. The president said he planned to ask Congress and bank regulators to restore Obama-era rules that were put in place to prevent
Girls Basketball Team That Refused to
Play Against a Transgender Athlete Banned
From Sporting Events 33 replies
Play Against a Transgender Athlete Banned
From Sporting Events 33 replies
A private Christian school in Vermont that forfeited a girls’ basketball game against a team with a biological male “transgender” player has been banned from participating in upcoming sporting events. The Vermont Principals’ Association, which oversees school sporting events, announced on Monday that Mid Vermont Christian School would be ineligible to participate in sporting events and other activities done through the organization.
“The VPA again reiterates its ongoing support of transgender student-athletes as not only a part of building an inclusive community for each student to grow and thrive.
Stanford University has apologized to a Trump-appointed judge who faced an embarrassing protest by a woke student mob - joined by the school's dean of 'equity' - after he was invited to speak at the college's Law School.
Judge Kyle Duncan, from the fifth circuit of appeals, was ambushed by associate dean of equity, diversity and inclusion Tirien Steinbach during a discussion Thursday night.
Steinbach - a former ACLU lawyer who previously defended free speech - initially claimed Duncan had a right to express his views. But she then launched into an impassioned six minute speech - which she had written down - condemning his life's work.
The Biden Economy — hailed Monday morning by Presidentish Joe Biden as “strong” — seems like it’s falling apart, everything, everywhere all at once. NYSE halted trading of Charles Schwab, whose shares fell by more than 20%, and even a few Etsy sellers have been impacted by the fallout of Silicon Valley Bank’s (SVB) collapse.
Schwab’s fall was the firm’s “most ever on an intraday-basis,” even as company execs assured investors in a press release that “Schwab’s long-standing reputation as a safe port in a storm remains intact.”
Overall, trading of shares in over 30 banks was halted on Wall Street Monday morning, as the entire sector suddenly looks like a risk
Until a few months ago, Rep. Maxine Waters, (D-CA) was the chair of the House Financial Services Committee, and currently is the ranking member (snip) One would think that any sentient consumer of information – both from media and from Congressional sources – would understand the difference between silicon and silicone. (snip) Silicone... is a manmade... polymer, useful in many applications, including caulk and boob-enhancement, but is useless for manufacturing semiconductors. (snip) But somehow, I don't see her recaulking the bathrooms in her multi-million dollar Hancock Park mansion that's not even in her congresional district.
Another so-called “conspiracy theory” appears to be coming true — this time, regarding voting and the 2024 elections.
A coalition comprised of more than 50 left-wing organizations — including AARP, the ACLU, the Freedom From Religion Foundation, the League of Women Voters, and the NAACP — is pushing the Biden administration to increase voter registration and turnout among new immigrants and those who are currently in federal custody awaiting their trials ahead of the all-important 2024 elections. The Leadership Conference on Civil and Human Rights published a progress report titled “Strengthening Democracy,” in which it calls on federal agencies to “work quickly to do everything they can” to
‘As bad as we thought’: James Comer
says docs show ‘Biden family was getting
money from CCP’ 25 replies
says docs show ‘Biden family was getting
money from CCP’ 25 replies
House Oversight Committee chair James Comer claimed Sunday on Fox News that he has evidence proving that President Joe Biden’s family has profited from the Chinese Communist Party.
Watch part one below:(Video) Appearing on Fox News’ “Sunday Morning Futures,” he was asked by host Maria Bartiromo what he’d learned in the last two weeks since he was on the show.
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“We’ve had a very good two weeks. We are finally having people cooperate with us. I think we all know the Biden administration is stone-walling. Janet Yellen is stonewalling, not turning over the bank violations,” he replied.
“But fortunately, since we’ve last spoken, we actually have bank records in hand.
President Joe Biden apparently revealed a detail about Jimmy Carter’s funeral Monday, saying the former president asked him to “do his eulogy.” “I spent time with Jimmy Carter and it’s finally caught up with him, but they found a way to keep him going for a lot longer than they anticipated because they found a breakthrough,” Biden said during remarks at a reception for the Democratic National Committee (DNC) in California. “He asked me to do his eulogy. Excuse me, I shouldn’t say that,” Biden added. Carter, who is 98-years-old, decided to enter hospice care in mid February after a