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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:
Discussion:
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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 …
Washington Post:
U.S. officials weigh protecting all deposits at Silicon Valley Bank — Extraordinary step eyed if plan to sell SVB to another institution fails — Federal authorities are seriously considering safeguarding all uninsured deposits at Silicon Valley Bank, weighing an extraordinary intervention …
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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.
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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.
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 …
Discussion:
The Hill, Alternet.org, New York Post, Just The News and The Gateway Pundit
New York Times:
Regulators Race to Contain Silicon Valley Bank Fallout and Close Signature Bank — The Treasury, Federal Reserve and Federal Deposit Insurance Corporation unveiled a plan to contain fallout from the collapse of Silicon Valley Bank. — Federal regulators announced on Sunday that they would ensure …
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 — To support American businesses and households, the Federal Reserve Board on Sunday announced …
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ABC News, Reuters, New York Times, CBS News, The Hill, UPI, Josh's Substack, Fortune, The Information and The Rational Walk
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 …
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The Hill, The Panoptic View, New York Post, Lawyers, Guns & Money and Raw Story
Steve Randy Waldman / drafts:
Unlimited deposit insurance
Unlimited deposit insurance
Discussion:
Forbes, Bloomberg, Grid News, The Post Millennial, Financial Times and Wall Street Journal
Vivek Ramaswamy / Wall Street Journal:
SVB Doesn't Deserve a Taxpayer Bailout
SVB Doesn't Deserve a Taxpayer Bailout
Discussion:
Insider, Cafe Hayek, Financial Times and No More Mister Nice Blog
Wall Street Journal:
How Silicon Valley Turned on Silicon Valley Bank
How Silicon Valley Turned on Silicon Valley Bank
Discussion:
Wired, Metro.co.uk, The Daily Caller and National Review, more at Techmeme »
Jeff Cox / CNBC:
Regulators unveil plan to assure depositors will get money after SVB collapse
Regulators unveil plan to assure depositors will get money after SVB collapse
Discussion:
The Economist, Washington Examiner, Bloomberg, Forbes, Fortune, Engadget, NBC News, The Hill and New York Post
Christina Wilkie / CNBC:
Wall Street — not taxpayers — will pay for the SVB and Signature deposit relief plans
Wall Street — not taxpayers — will pay for the SVB and Signature deposit relief plans
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USA Today, HotAir, BizPac Review, Wall Street Journal, The Hill and The Post Millennial
Ken Sweet / Associated Press:
Can the chaos from Silicon Valley Bank's fall be contained?
Can the chaos from Silicon Valley Bank's fall be contained?
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Wall Street Journal:
The Silicon Valley Bank Bailout
The Silicon Valley Bank Bailout
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Financial Times, Washington Post, Marginal REVOLUTION, Bloomberg, EdxCapital, BizPac Review, The Bitcoin Beat, Adventus and Washington Examiner
Associated Press:
Yellen says no federal bailout for Silicon Valley Bank
Yellen says no federal bailout for Silicon Valley Bank
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Fortune, New York Post, Magnolia Tribune, CNN, David Reavill, Fox Business, 40 Years In The Desert, Just The News, Roll Call, WPRI-TV, KNSD-TV, The Times of Israel, Exact Macro Market Monitor, UPI, WTOP News, NewsNation, New York Daily News, Power Line, Axios, Joe.My.God., GIANT FREAKIN ROBOT and Raw Story
Adam Wren / Politico:
Inside Pence world's decision to go hard at Trump at the Gridiron — The Friday after Jan. 6, 2021, then-Vice President Mike Pence sat down for his daily devotions, thumbed his Bible to the New Testament and James 1:19, and read these words: “Be quick to listen, slow to speak and slow to become angry.”
Discussion:
Raw Story, USA Today, Alternet.org and The Guardian
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David Siders / Politico:
Trump continues to suck the air out of the GOP primary
Trump continues to suck the air out of the GOP primary
Discussion:
Raw Story and Political Wire
Dean Obeidallah / The Dean's Report:
If Mike Pence continues his refusal to tell investigators the details of Trump's Jan 6 attack, he must be viewed as complicit
If Mike Pence continues his refusal to tell investigators the details of Trump's Jan 6 attack, he must be viewed as complicit
Discussion:
Poynter, World Socialist Web Site, CBS News, Chicago Sun-Times, Mediaite, Raw Story, Digby's Hullabaloo, Breitbart, Insider, IJR, New York Daily News, NPR, New York Magazine, Politico, The Hill, National Review, HotAir, The Daily Caller, RedState, Bloomberg, Washington Examiner, Al Jazeera, Political Wire, Vanity Fair, Axios, Washington Post and CNN
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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Associated Press, Washington Examiner, The DePaulia, CBS News, Politico, WTOP News, New Jersey Online and Political Wire
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Lisa Friedman / New York Times:
Administration to Approve Huge Alaska Oil Project on Monday, Two Officials Say
Administration to Approve Huge Alaska Oil Project on Monday, Two Officials Say
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Associated Press, CNN, Politico, Washington Examiner, Forbes, WTOP News, Lawyers, Guns & Money, BizPac Review, The Guardian, Al Jazeera, The Hill, Wall Street Journal and Bloomberg
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:
Political Wire
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 …
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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
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 …
Discussion:
Raw Story, Colorado Politics, The Guardian and The Colorado Sun
Kyle Cheney / Politico:
Prosecutors say newly aired Chansley footage paints misleading portrait of his Jan. 6 conduct — Prosecutors on Sunday rejected the notion that newly public footage of Jacob Chansley — known as the QAnon Shaman — accompanied by police in the Capitol undercuts his criminal conduct on Jan. 6, 2021.
Discussion:
CNN, Washington Examiner, PoliticusUSA and HotAir
Jose Luis Gonzalez / Reuters:
Hundreds of migrants try to force their way into US at Mexico border — U.S. officials stopped hundreds of mostly Venezuelan migrants entering the country from Mexico on Sunday after a large group broke through Mexican lines to demand asylum in the U.S., only to be thwarted by barbed wire, barriers and shields.
Discussion:
The Hill, CNN, New York Post, Fox News, NPR and Washington Post
Lara Seligman / Politico:
PETA urges Pentagon to stop ‘disturbing’ radiation tests on ferrets, monkeys — POLITICO reported that the Army is funding experiments on animals to find the possible source of the mysterious “Havana Syndrome” ailments. — A prominent animal rights group is calling on the Pentagon to halt …