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3:05 PM ET, March 11, 2023

memeorandum

 Top Items: 
New York Times:
The Second-Biggest Bank Failure  —  Bank failures in each year by total assets  —  Bank failures in each year by total assets  —  IndyMac Bank $307 billion  —  Washington Mutual Bank  —  Silicon Valley Bank  —  Source: Federal Deposit Insurance Corporation Note …
RELATED:
Matt Levine / Bloomberg:
Startup Bank Had a Startup Bank Run  —  Programming note: Money Stuff was supposed to be off today, but: bank run!  —  SVB  —  The lesson might be that there are some industries that are bad to bank.  Imagine that it was 2021, and someone was like “do you want to start the Bank of Crypto?
CNN:
Silicon Valley Bank collapses after failing to raise capital  —  New York CNN —  Silicon Valley Bank collapsed Friday morning after a stunning 48 hours in which a bank run and a capital crisis led to the second-largest failure of a financial institution in US history.
Jesse Pound / CNBC:
Silicon Valley Bank is shut down by regulators in biggest bank failure since global financial crisis
New York Times:
Silicon Valley Bank Fails After Run on Deposits
Rebecca Burns / The Lever:
SVB Chief Pressed Lawmakers To Weaken Bank Risk Regs
Aaron Blake / Washington Post:
As Fox News panicked in 2020, leaders warned of featuring Buttigieg, Coons  —  The top Biden campaign surrogates were singled out in the post-election period, with CEO Suzanne Scott saying 'audiences don't want to see too much' of guests like them  —  It's a rather small cadre of politicians …
Discussion: The Wrap and NPR
RELATED:
Martha Ross / East Bay Times:
Rupert Murdoch: Fox News fired Kimberly Guilfoyle for ‘inappropriate behavior’  —  Murdoch's complaints about his former Fox News host were revealed in a trove of texts and emails that were recently leaked in Dominion Voting Systems' lawsuit against the network
Discussion: Insider and Raw Story
Washington Post:
What key players at Fox News said about the network and its viewers
Discussion: Slate and Raw Story
David Lat / Original Jurisdiction:
Yale Law Is No Longer #1—For Free-Speech Debacles  —  Congratulations, Stanford Law, you're the new poster child for intolerance.  —  Congratulations, Stanford Law School.  You're the nation's new top law school—when it comes to free-speech debacles.1 (And I'm interrupting my vacation to cover you—so thanks for that too, SLS.)
RELATED:
Aaron Sibarium / Washington Free Beacon:
‘Dogs—t’: Federal Judge Decries Disruption of His Remarks by Stanford Law Students and Calls for Termination of the Stanford Dean Who Joined the Mob  —  Fifth Circuit appellate judge Stuart Kyle Duncan, who was shouted down by Stanford Law School students as administrators looked on in silence …
Adam Wren / Politico:
Can Trump's ‘Straight Man’ Lighten Up?  —  The last time Mike Pence headlined the Gridiron Club dinner, he was a stand-in.  His boss, whose media baiting was already reaching highway-speed just two months into his first term, had no interest in playing nice with his critics, so he palmed off the job to his vice president.
Discussion: claytoonz and Washington Examiner
RELATED:
New York Times:
Inside Ron DeSantis's Politicized Removal of an Elected Prosecutor  —  The Florida governor accused the Democratic prosecutor of undermining public safety.  But a close examination of the episode reveals just how fueled it was by Mr. DeSantis's political aims.
Discussion: HuffPost
Jose Pagliery / The Daily Beast:
Trump Gets Caught Trying to Play Judges to Manufacture Trial Delays  —  Donald Trump is in so much trouble that his trials are starting to run into one another, and now his lawyers might get in trouble for fooling judges into delaying them all. … Faced with an onslaught of expensive lawsuits ranging …
Discussion: Raw Story
Katie S. Phang / MSNBC:
The true cost of Dominion's devastating Fox News bombshells  —  I spent almost 25 years as a trial lawyer before I became the host of the Katie Phang Show.  Whether it was a criminal or civil case, the facts and the evidence are what mattered the most.  And my currency as a trial lawyer?  The truth.
Discussion: Raw Story and The Guardian
Tim Carman / Washington Post:
A Va. bakery gave BLM activists free coffee.  Then came the backlash.  —  Brian Noyes and Josephine Gilbert agreed to sit down on March 1 and talk it out.  Noyes, founder of the celebrated Red Truck Bakery, and Gilbert, the leader of a loose coalition that demonstrates under the banner of All Lives Matter …
Lisa Friedman / New York Times:
Biden Administration Expected to Move Ahead on a Major Oil Project in Alaska  —  The decision would allow an enormous $8 billion drilling project in the largest expanse of pristine wilderness in the United States.  —  WASHINGTON — In one of its most consequential climate decisions …
RELATED:
Brianna Sacks / Washington Post:
Insurers slashed Hurricane Ian payouts far below damage estimates, documents and insiders reveal  —  A Washington Post investigation has found that some policyholders had their claims cut by more than 80 percent  —  FORT MYERS, Fla. — When insurance adjuster Jordan Lee entered …
NBC News:
Ron DeSantis feels the love in Iowa.  That might not be enough.  —  DES MOINES, Iowa — To hear Florida Gov. Ron DeSantis tell it, he's exactly the kind of winner that Republicans here in Iowa — and across the country — are looking for in a presidential nominee.
Jody Godoy / Reuters:
Ex-US congressman convicted of insider trading before T-Mobile merger  —  Former U.S. Congressman Stephen Buyer was convicted by a New York jury on Friday of trading on inside information he learned in 2018 as a consultant to T-Mobile US Inc (TMUS.O) ahead of its $23 billion merger with Sprint.
Peter Hermann / Washington Post:
5 archaic D.C. laws still technically on the books after crime bill is nixed  —  When D.C. embarked on a years-long process to overhaul its criminal code, one of the things city council members set out to do was remove from the books antiquated laws that are no longer relevant to modern society.
Air Force:
New paint design for ‘Next Air Force One’  — Secretary of the Air Force Public Affairs  —  President of the United States Joe Biden has selected the livery design for the “Next Air Force One,” VC-25B, a design that will closely resemble the livery of the current Air Force One, VC-25A, while also modernizing for the 21st century.
Jasmine Hilton / Washington Post:
Man accused of painting ‘groomer’ on Md. libraries charged in child porn case  —  Charles Sutherland had previously been charged over the vandalism authorities alleged was fueled by hate  —  A 31-year-old Takoma Park man alleged to have spray-painted the word “groomer” …
Discussion: HuffPost and MoCo360
Heather Cox Richardson / Letters from an American:
March 10, 2023  —  At the Conservative Political Action Conference (CPAC) last weekend, Daily Wire host Michael Knowles said that “for the good of society...transgenderism must be eradicated from public life entirely—the whole preposterous ideology, at every level.”
Discussion: IJR and The Present Age
Brandi Buchman / emptywheel:
Jan. 6 seditious conspiracy comes into focus at Proud Boys trial as classified ‘spill’ roils proceedings  —  The Proud Boys seditious conspiracy trial started this week with prosecutors rolling out meticulous frame-by-frame video footage from Jan. 6 that, for the first time in more than a month …
 
 
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 More Items: 
Caitlin Owens / Axios:
House GOP's budget could hurt the party in key Senate races
Washington Post:
China brokers Iran-Saudi Arabia detente, raising eyebrows in Washington
Anastasia Edel / Foreign Policy:
Staring Down the Black Hole of Russia's Future
Ben Caspit / Al-Monitor:
Tensions in West Bank threaten Israel-US intelligence cooperation
Los Angeles Times:
Tom Girardi gave $1 million in payments, gifts to top State Bar investigator, corruption probe finds
Discussion: San Bernardino Sun
 Earlier Items: 
Bruce Leshan / wusa9.com:
‘I snapped’ | Day care owner says she shot her husband accused of child molestation in a moment of rage
Discussion: Law & Crime and Twitchy
Anshel Pfeffer / Haaretz:
Israel's Long-awaited Secular Uprising Is Finally Here
Jozsef Papp / Atlanta Journal-Constitution:
Family: Activist's hands raised when shot by troopers near training center site
Discussion: Raw Story and New York Daily News
New York Times:
Michael Cohen to Testify at Grand Jury as Likely Trump Indictment Looms
 

 
From Techmeme:

Stephanie Palazzolo / The Information:
An undisclosed 2023 agreement between Microsoft and OpenAI defines achieving AGI as the point when OpenAI develops AI systems that generate $100B+ in profits

Noah Smith / Noahpinion:
How H-1B workers from India and other countries help the US remain dominant in tech, as some on the new “Tech Right” discover MAGA's racial-nationalist bigotry

Shubham Sharma / VentureBeat:
DeepSeek releases DeepSeek-V3, an open-source MoE model of 671B total parameters, with 37B activated per token, claiming it outperforms top models like GPT-4o

 
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