Key takeaways: The former president’s campaign released a statement attacking the Manhattan District Attorney’s office ahead of possible charges related to hush money paid to…
News Mash
Derek Chauvin, the former Minneapolis Police Officer convicted of murdering George Floyd in 2020, pleaded guilty to two counts of tax evasion in a Washington County court on Friday. His ex-wife had previously pleaded guilty to two counts of underreporting their income and failing to file tax returns. Chauvin is currently serving a 40-year sentence for the murder of Floyd, and faces a maximum of five years in prison for the tax evasion charges, with a sentencing hearing scheduled for August 12.
President Joe Biden has proposed legislation to make it easier for the government to punish executives at failed banks, including the ability to claw back compensation, impose civil penalties, and ban executives from the banking industry. The policy is meant to deter risky actions and ensure that executives are held accountable for their actions, protecting taxpayers and strengthening the banking system.
Four of the country's most powerful banks have joined forces to provide a $30 billion cash infusion to First Republic Bank in response to the banking crisis, with the Biden administration guaranteeing uninsured deposits and the Federal Reserve announcing a new lending program. This move highlights the political peril of the sudden crisis and the hundreds of billions of dollars already involved in the federal government's response.
The International Criminal Court (ICC) has issued arrest warrants for Russian President Vladimir Putin and Maria Lvova-Belova, a member of Putin's government, for alleged war crimes in Ukraine. This is the first time the ICC has issued an arrest warrant for a sitting head of state, and the international community must now decide how to respond to the warrants. The ICC is an independent court that investigates and prosecutes individuals accused of serious international crimes, and this decision is a significant step in its efforts to hold those responsible for war crimes accountable.
Scientists from around the world have analyzed genetic data from samples collected near the first human cases of Covid-19 in China, suggesting that the pandemic originated from animals, not a lab. The WHO has called for more research and data sharing to gain a better understanding of the virus and how it spread.
The International Criminal Court (ICC) has issued arrest warrants for Russian President Vladimir Putin and Commissioner for Children's Rights in the Office of the President of the Russian Federation, Maria Alekseyevna Lvova-Belova, on charges of war crimes related to the unlawful deportation and transfer of Ukrainian children to Russia. The ICC's pre-trial chamber found reasonable grounds to believe that each suspect bears responsibility for the war crime, and this is the latest development in the ongoing conflict between Russia and Ukraine. The warrants are a significant step in the international community's efforts to hold those responsible for war crimes accountable.
SVB Financial Group, the former parent of Silicon Valley Bank, has filed for Chapter 11 bankruptcy protection after the tech-reliant bank was shut down by regulators due to a run on the financial institution. The filing does not include Silicon Valley Bank, SVB Securities, SVB Capital's funds, or its general partner entities. The company, its CEO, and its chief financial officer were targeted this week in a class action lawsuit that claims the company didn’t disclose the risks of future interest rate increases. The FDIC is expected to provide more information in the coming days.