The Justice Department has opened an investigation into the collapse of Silicon Valley Bank and Signature Bank. Customers and employees of both banks will have full access to their deposits, including insured and uninsured deposits, and the FDIC is working to ensure that they have access to their money. The outcome of the investigation is still unclear, but customers and employees can rest assured that their deposits are safe.
News Mash
Tennessee Lt. Gov. Randy McNally has announced that he will be taking a break from social media following criticism for commenting on posts of nearly nude photos of a 20-year-old gay model. His decision has been met with mixed reactions, prompting questions about the role of social media in politics and the need for more guidance on its use by elected officials. McNally has stated that his intent was always engagement and encouragement, and that he will be pausing his social media activity in order to reflect and receive more guidance.
Florida is facing a wave of anti-trans legislation from Republicans, which President Joe Biden has called "cruel" and "close to sinful." These bills include banning public drag performances, blocking trans athletes from playing on school teams, and barring discussion about sexuality and gender identity in schools. LGBTQ advocates have also spoken out against the bills, urging the state to focus on protecting the rights of LGBTQ individuals, rather than attacking them. President Biden and LGBTQ advocates have strongly opposed the legislation, and it remains to be seen how the state will respond.
The White House has called for former Vice President Mike Pence to apologize for a joke he made about Transportation Secretary Pete Buttigieg's parental leave at the annual Gridiron Club dinner. The joke has been deemed offensive and inappropriate, as it treated women suffering from postpartum depression as a punchline. Karine Jean-Pierre, White House press secretary, has stated that Pence should apologize to women and LGBTQ people for the joke.
A 13-year-old girl reported missing in Dallas, Texas was found safe in an outbuilding in North Carolina after being enticed away from home by an adult man she met on a social media platform. The man, 34-year-old Jorge Ivan Santos Camacho, was arrested on child abduction, felonious restraint, statutory rape and other charges. The girl was found unharmed and has since been reunited with her family. The Davidson County Sheriff's Office is continuing to investigate the incident and encourages parents to be aware of their children's online activity.
The US government has intervened to ensure that customers of Silicon Valley Bank and Signature Bank, which both failed this week, will have access to all of their money starting Monday, March 13. The Federal Deposit Insurance Corporation has created a “bridge bank” for SVB deposits and another for Signature Bank deposits, allowing customers to access both their insured and uninsured deposits. Questions have been raised about the stability of the banking system, but the US government has assured that losses related to SVB's collapse will not be borne by taxpayers.
Florida Governor Ron DeSantis has made his stance on U.S. support for Ukraine clear in a statement to Fox News host Tucker Carlson, emphasizing the importance of considering U.S. national interests before becoming further entangled in the conflict. He expressed his concern with the Biden administration’s “blank check” funding of the conflict in Ukraine, without any defined objectives, and has been vocal in his criticism of the current administration’s policies. This statement is yet another example of his opposition to the current administration’s policies.
A powerful nor'easter is set to bring heavy snow, winds, and coastal flooding to the US Northeast on Tuesday, causing power outages and making travel difficult. Over 20 million people are under winter weather alerts as the storm is expected to strengthen rapidly and significantly impact the Northeast through Wednesday. The National Weather Service is urging people to take precautions and prepare for the storm, including staying informed of the latest weather updates and avoiding unnecessary travel.