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11:30 AM ET, March 13, 2023

memeorandum

 Top Items: 
Board of Governors of the Federal Reserve System:
Joint Statement by Treasury, Federal Reserve, and FDIC  —  Board of Governors of the Federal Reserve System  —  Washington, DC — The following statement was released by Secretary of the Treasury Janet L. Yellen, Federal Reserve Board Chair Jerome H. Powell, and FDIC Chairman Martin J. Gruenberg:
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Steve Randy Waldman / drafts:
Unlimited deposit insurance  —  Tonight the US Treasury, Federal Reserve, and FDIC delivered a joint statement in order to staunch the panic provoked by last week's resolution of Silicon Valley Bank.  (ht Steve Herman).  —  Regulators shocked the market last week, not because SVB was shut …
David Dayen / American Prospect:
The Silicon Valley Bank Bailout Didn't Need to Happen  —  The debate over protecting all deposits in a blink looks past the incompetence that got us here.  —  Sen. Mike Crapo (R-ID) is seen at a Senate Finance Committee hearing on March 7, 2023.  Crapo was a principal sponsor of a bank deregulation bill in 2018.
Elizabeth Warren / New York Times:
We Can Prevent More Bank Failures  —  No one should be mistaken about what unfolded over the past few days in the U.S. banking system: These recent bank failures are the direct result of leaders in Washington weakening the financial rules.  —  In the aftermath of the 2008 financial crisis …
Yun Li / CNBC:
Regulators close crypto-focused Signature Bank, citing systemic risk  —  U.S. regulators on Sunday shut down New York-based Signature Bank, a big lender in the crypto industry, in a bid to prevent the spreading banking crisis.  —  “We are also announcing a similar systemic risk exception for Signature Bank …
Summer Concepcion / NBC News:
Biden says ‘the banking system is safe’ after Silicon Valley Bank shutdown  —  President Joe Biden delivered remarks Monday on his administration's efforts to ease uncertainties about the banking system in the wake of the collapse of Silicon Valley Bank last week, the second-largest bank failure in U.S. history.
Philip Klein / National Review:
Silicon Valley Bank Depositor Bailout Makes Mockery of ‘Too Big to Fail’  —  The 2008 financial collapse and resulting Wall Street bailout popularized the concept of “too big to fail” — the idea that certain institutions were so massive, and so intertwined with the rest of the financial system …
Rob Wile / NBC News:
Is Silicon Valley Bank getting a government bailout?  Not in the 2008 sense.  —  Federal officials insisted their emergency measures to shore up deposits wouldn't come at taxpayers' expense.  But the public could still bear some indirect costs, one expert warned.
Bloomberg:
SVB Failure Sparks Blame Game Over Trump-Era Regulatory Rollback
New York Times:
Regulators Race to Contain Silicon Valley Bank Fallout and Close Signature Bank
Francesca Chambers / USA Today:
Banking crisis: President Joe Biden says taxpayer funds won't be used to bailout SVB, Signature bank
Board of Governors of the Federal Reserve System:
Federal Reserve Board announces it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors
Ken Sweet / Associated Press:
Can the chaos from Silicon Valley Bank's fall be contained?
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David Siders / Politico:
Trump continues to suck the air out of the GOP primary  —  It wasn't long ago that many Republicans believed the party might finally be ready to move past former President Donald Trump.  Nikki Haley was running for president.  Florida Gov. Ron DeSantis was embarking on a book tour …
Discussion: Raw Story
Robert Spencer / PJ Media:
Even as Jan. 6 Narrative Implodes, Pence Still Blames Bad Orange Man for Endangering His Life
Tim Miller / The Bulwark:
The Colorado GOP's Slow-Rolling MAGA Suicide  —  A MAGA lunatic who tried to legally add “Let's Go Brandon” to his name now leads a decaying state party.  —  It was the early hours of November 5, 1998, well past my bedtime on a school night.  Sister Sledge blared over the house speakers …
Ed Pilkington / The Guardian:
Fox News braces for more turbulence as second defamation lawsuit advances  —  New York court greenlights $2.7bn suit against news channel by election company Smartmatic over 2020 presidential election lies  —  As Rupert Murdoch's Fox Corporation battles to contain the Dominion lawsuit scandal …
Discussion: Raw Story
Glen Weldon / NPR:
Michelle Yeoh is the first Asian woman to win best actress Oscar  —  For the first time in its 95-year history, the Academy of Motion Picture Arts and Sciences has awarded the Oscar for best actress in a leading role to an Asian woman.  Michelle Yeoh accepted the Oscar for her role …
Washington Post:
Biden will approve Alaska oil project, alongside Arctic protections  —  The administration will approve three pads for the Willow drilling project, according to people familiar with the matter.  The move comes after announcing a new ban on U.S. oil and gas leasing in the Arctic Ocean.
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Lisa Friedman / New York Times:
Biden Administration Approves Huge Alaska Oil Project
ABC News:
Trump has ‘no plans’ to participate in Manhattan grand jury probe, attorney says  —  Attorney Joe Tacopina spoke with George Stephanopoulos on Good Morning America.  —  Former President Donald Trump has “no plans” to participate in a Manhattan grand jury investigation into a  —  hush money payment
Irin Carmon / The Cut:
Let's Talk Barbara Walters Seventeen leading broadcasters on her legacy and making their way in the world she made.  —  Barbara Walters died on December 30 at the age of 93 during a low ebb in the news cycle.  Her home of 50 years, ABC News, pressed PLAY on a two-hour prime-time special …
Judd Legum / Popular Information:
Florida book bans are not a hoax  —  For months, Popular Information has documented how thousands of books have been removed from the shelves of Florida school libraries or have otherwise been made unavailable to Florida students.  These actions were taken in response to new laws …
RELATED:
Jodi Picoult / The Daily Beast:
What Florida Doesn't Want You to Know About Its Book Bans
Discussion: The Hill and Raw Story
Marlise Simons / New York Times:
International Court to Open War Crimes Cases Against Russia, Officials Say  —  The cases before the International Criminal Court would accuse Russia of abducting Ukrainian children and of deliberately targeting civilian infrastructure.  —  The International Criminal Court intends to open …
Discussion: The Guardian
Public Policy Polling:
Trump and Mastriano have big leads in Pennsylvania Republican Primary for President and Senate  —  A new Public Policy Polling survey of Pennsylvania Republicans finds the party base wanting to continue its recent direction, with Donald Trump and Doug Mastriano holding 18 point leads in the races for President and Senate.
Discussion: Washington Post
RELATED:
Josh Kraushaar / Axios:
Senate GOP's 2024 landmines
Discussion: Townhall and Political Wire
Brittany Gibson / Politico:
Republicans release top targets of Democratic-held House seats in 2024  —  The National Republican Congressional Committee will target 37 Democratic seats — sending the message that they are looking to expand their majority in 2024 rather than play defense.
Discussion: The Hill and Washington Examiner
RELATED:
Politico:   How Democrats disarmed a brewing Senate battle in Michigan
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 More Items: 
New York Times:
‘Russia Outside Russia’: For Elite, Dubai Becomes a Wartime Harbor
Public Notice:
Why an indictment may actually boost Trump's campaign
Lara Seligman / Politico:
PETA urges Pentagon to stop ‘disturbing’ radiation tests on ferrets, monkeys
Discussion: PETA
Jordain Carney / Politico:
House GOP launches investigation into DHS' domestic intelligence gathering
Olivia Beavers / Politico:
A third former House GOP candidate alerted to unapproved military records request
 Earlier Items: 
David French / New York Times:
Don't Let the Culture War Degrade the Constitution
Discussion: Outside the Beltway and RedState
Jason Willick / Washington Post:
What the misinformation scare reveals about faith in democracy
Doug Livingston / Akron Beacon Journal:
Two arrested after protesters and supporters clashed at Wadsworth drag queen story hour
Anshel Pfeffer / Haaretz:
Netanyahu's Response to Iran-Saudi Deal Shows a Growing Detachment From Reality
 

 
From Techmeme:

Shakeel Hashim / Transformer:
Musk v. Altman: email shows Brockman and Sutskever had concerns about Altman in 2017, Musk claims Altman proposed OpenAI sell its own cryptocurrency, and more

Jay Peters / The Verge:
Bluesky says it has “no intention” of taking user content to train AI tools, ahead of X implementing new terms of service that let it train AI on user content

Financial Times:
Sources: xAI raised $5B at a $45B valuation, almost double its valuation a few months ago; SpaceX prepares a tender offer that would value the company at $250B+
 
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