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8:15 AM ET, March 11, 2023

memeorandum

 Top Items: 
Jesse Pound / CNBC:
Silicon Valley Bank is shut down by regulators in biggest bank failure since global financial crisis  — The FDIC said in the announcement that insured depositors will have access to their deposits no later than Monday morning.  — SVB's branch offices will also reopen at that time, under the control of the regulator.
RELATED:
New York Times:
Silicon Valley Bank Fails After Run on Deposits  —  The Federal Deposit Insurance Corporation took control of the bank's assets on Friday.  The failure raised concerns that other banks could face problems, too.  —  Emily Flitter and Rob Copeland cover Wall Street and finance.
Austin Weinstein / Bloomberg:
SVB CEO Sold $3.6 Million in Stock Days Before Bank's Failure  —  Silicon Valley Bank Chief Executive Officer Greg Becker sold $3.6 million of company stock under a trading plan less than two weeks before the firm disclosed extensive losses that led to its failure.
Chris Anstey / Bloomberg:
Summers Sees No Systemic Risk From SVB If Depositors Protected  —  Former Treasury Secretary Lawrence Summers said the meltdown of SVB Financial Group shouldn't pose a risk to the financial system as long as depositors are made whole.  —  “What is absolutely imperative is that …
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.
New York Times:
Michael Cohen to Testify at Grand Jury as Likely Trump Indictment Looms  —  Mr. Cohen, Donald J. Trump's former fixer, is the key witness in a case built around a hush money payment to Stormy Daniels.  —  Michael D. Cohen, the former fixer who for years did Donald J. Trump's dirty work …
RELATED:
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.)
Lisa Friedman / New York Times:
Biden 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 the most consequential climate decisions of his administration …
Discussion: The Guardian, New York Post, NPR, KTOO and HotAir
RELATED:
Eleanor Klibanoff / The Texas Tribune:
Three Texas women are sued for wrongful death after assisting with abortion  —  In the first lawsuit of its kind since Roe v. Wade was overturned, a husband seeks damages from women who helped his ex-wife obtain the medications to terminate her pregnancy.  —  A Texas man whose ex-wife terminated …
Washington Post:
Trump in growing legal and political peril ahead of 2024  —  Multiple investigations into him and his actions are entering advanced stages while many Republicans drift away  —  The Manhattan district attorney has invited former president Donald Trump to testify next week before a grand jury …
RELATED:
Slate:   Can Georgia Republicans Really Fire a Prosecutor for Indicting Trump?
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.
RELATED:
Wall Street Journal:
Saudi Arabia, Iran Restore Relations in Deal Brokered by China
Chris Stokel-Walker / Wired:
Twitter's $42,000-per-Month API Prices Out Nearly Everyone  —  Tiers will start at $500,000 a year for access to 0.3 percent of the company's tweets.  Researchers say that's too much for too little data.  —  Since Twitter launched in 2006, the company has acted as a kind of heartbeat for social media conversation.
Winn Sioux Christnot-Peters / Second Nexus:
Eric Swalwell Perfectly Shames Jim Jordan Over Hypocritical ‘Subpoena Compliance’ Demand  —  Eric Swalwell calls out Jim Jordan's hypocrisy for issuing subpoenas after defying them when Democrats were in control.  —  California Democratic Representative Eric Swalwell called out the hypocrisy …
Dana Milbank / Washington Post:
Kevin McCarthy joins the insurrection  —  Not since the Know-Nothing Party disappeared in the 1850s has a public figure boasted about his ignorance with as much gusto as Kevin McCarthy does.  —  It doesn't seem to matter what you ask the speaker of the House.  He hasn't read it, seen it or heard about it.
RELATED:
Steve Benen / MSNBC:
Kevin McCarthy's limited foresight gets him into trouble (again)
Jozsef Papp / Atlanta Journal-Constitution:
Family: Activist's hands raised when shot by troopers near training center site  —  Family files lawsuit against city of Atlanta for release of information  —  An independent autopsy showed Manuel Teran's hands were raised when the activist was fatally shot by state troopers in January near …
Discussion: Raw Story and New York Daily News
Caleb Ecarma / Vanity Fair:
How Rod Dreher's Blog Got a Little “Too Weird” for The American Conservative  —  The right-wing commentator's columns, which were unedited and bankrolled by a single donor, will be shuttered Friday after a 12-year run.  Sources say it was ultimately a diatribe on circumcision that was a bridge too far.
Ben Caspit / Al-Monitor:
Tensions in West Bank threaten Israel-US intelligence cooperation  —  Top US Gen. Milley delivered “unprecedented message” to Israeli officials, warning that internal chaos and growing tensions in the West Bank could endanger the country's strategic relations with the United States.
Brock Colyar / The Cut:
Zooming With Tennessee Thirst Trap Franklyn McClure … “I love being naked,” says Franklyn McClure, 20, Zooming from the porch of his home in Charlotte, North Carolina, and wearing nothing but a pink pair of briefs and a whole lot of jewelry and lip gloss.  “So that's why I didn't want to wear a shirt for this interview.
Washington Post:
What key players at Fox News said about the network and its viewers  —  The $1.6 billion defamation case against Fox News has given the public a rare look at the inner workings of the conservative cable-news giant — including what its executives and top personalities privately …
Discussion: Newsday
Helena Horton / The Guardian:
BBC will not broadcast Attenborough episode over fear of rightwing backlash  —  Exclusive: Decision to make episode about natural destruction available only on iPlayer angers programme-makers  —  The BBC has decided not to broadcast an episode of David Attenborough's flagship new series …
RELATED:
BBC:
Gary Lineker told to step back from presenting Match of the Day
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.
Jeet Heer / The Nation:
The Horrifying and Shameful Return of Child Labor  —  Bipartisan buck-passing and a ramshackle immigration system have revived Victorian degradation.  —  The disorienting fact about the 21st century is that, even as the calendar moves forward, actual social and political reality is in a state of regression.
Discussion: Wall Street Journal and MLive.com
Michael C. Bender / New York Times:
A Glimpse of DeSantis in Iowa: Awkward, but Still Winning the Crowd  —  Gov. Ron DeSantis of Florida visited Iowa on Friday, providing a window into his still-untested skills as a retail politician.  —  DAVENPORT, Iowa — Suzy Barker, a native Iowan dressed in an orange-and-blue University …
Los Angeles Times:
Tom Girardi gave $1 million in payments, gifts to top State Bar investigator, corruption probe finds  —  Disbarred Los Angeles lawyer Tom Girardi funneled more than $1 million in gifts and payments to an investigator at the State Bar of California and the investigator's wife, a USC accounting professor …
Discussion: San Bernardino Sun
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: 
Anastasia Edel / Foreign Policy:
Staring Down the Black Hole of Russia's Future
Tim Carman / Washington Post:
A Va. bakery gave BLM activists free coffee. Then came the backlash.
Bruce Leshan / wusa9.com:
‘I snapped’ | Day care owner says she shot her husband accused of child molestation in a moment of rage
Discussion: Twitchy
Mark Magnier / South China Morning Post:
Exclusive: China unofficially suggests way to mitigate any Taiwan trip by House speaker: US sources
Anshel Pfeffer / Haaretz:
Israel's Long-awaited Secular Uprising Is Finally Here
Ross Ketschke / WMUR:
Video shows Wentworth state representative shouting at plow driver outside home
Discussion: New York Post and Raw Story
 Earlier Items: 
Andrew Perez / The Lever:
Workers Are Funding Private Equity's Child Labor Exploitation
U.S. Department of Defense:
Secretary of Defense Lloyd J. Austin III Holds a Joint Press Conference With Israeli Defense Minister Yoav Gallant
Jim Geraghty / National Review:
How Often Do AOC and MTG Agree?
Judy Kurtz / The Hill:
Boebert praises high rural teen birth rates while announcing first grandchild
Glenn Kessler / Washington Post:
Tennessee congressman Andrew Ogles's résumé is too good to be true
Discussion: Raw Story
George Monbiot / The Guardian:
I once admired Russell Brand. But his grim trajectory shows us where politics is heading