Senator Elizabeth Warren has called for stricter banking regulations in response to the recent collapse of two banks. She believes that lifting the Federal Deposit Insurance Corporation's (FDIC) insurance cap from its current $250,000 limit should be considered, and has criticized Federal Reserve Chair Jerome Powell for failing to do his job. Warren's proposal would require regulators to do their jobs and protect consumers from banks that are under-regulated.
News Mash
US banking industry was rocked this week, with the biggest US bank failure since the 2008 financial crisis, a near-miss for Credit Suisse, and banks tightening up lending. This could lead to a decrease in spending, putting added pressure on households already whittling down savings and taking on more debt. The long-term effects of these events remain to be seen, but it is clear the US banking industry is in a precarious position.
South Carolina Republicans Nikki Haley and Tim Scott addressed a Christian conservative forum in the early voting state, as former President Donald Trump and Florida Governor Ron DeSantis both vie for the Republican nomination for the 2024 election. The forum was an opportunity for presidential hopefuls to make their case to a crucial voting bloc, but the Republican party is aware that a fight between Trump and DeSantis could divide their 222-member conference and distract them from their goal. It remains to be seen how the party will handle the battle and its effect on their chances in the 2024 election.
Manhattan District Attorney Alvin Bragg has warned employees not to give in to intimidation and threats in response to former President Donald Trump's call for protests if he is arrested on Tuesday. Bragg has said his office will not tolerate attempts to intimidate them and is coordinating with the NYPD and court to ensure their safety and the integrity of their work. He has also reminded employees that their safety is a top priority.
Michigan State Police have confirmed that the deaths of three Michigan rappers, Armani Kelly, Dante Wicker, and Montoya Givens, were the result of gang violence and not related to music. The bodies were found in an abandoned apartment building in Highland Park on February 2nd, and the police are asking for the public's help in the investigation. They have also stated that the incident was related to gang violence, in order to dispel false rumors.
Arkansas' eighth-seeded Razorbacks pulled off a stunning upset of top seed and defending national champion Kansas on Saturday, with Ricky Council IV's five free throws in the closing seconds sealing the 72-71 victory. Coach Eric Musselman celebrated in style, jumping onto the press table and ripping off his shirt, while his players rushed across the floor to join in the jubilation. The win follows No. 16 seed Fairleigh Dickinson's historic upset of No. 1 Purdue on Friday night, setting the stage for more thrilling upsets in the NCAA Tournament.
Vladimir Putin has made a surprise visit to the Russian-occupied port city of Mariupol, Ukraine, in an act of defiance two days after the International Criminal Court issued an arrest warrant for him. During his visit, Putin was seen chatting with local residents, visiting an art school, and a children’s center in Crimea. This visit is seen as a show of support for the Russian-occupied territory and is likely to be met with criticism from the international community.
The Manhattan District Attorney's Office has been investigating former President Donald Trump for years in connection with a hush money scheme. Trump recently announced that he anticipates being arrested in connection with the investigation within days, raising questions about the charges. Atlanta prosecutor Fani Willis, Jack Smith and current District Attorney Alvin Bragg are reportedly part of the investigation, though details have yet to be released. The outcome of the investigation remains to be seen, but it is clear that the District Attorney's Office is taking the matter seriously.