Public Notes
on
histre
Wall Street’s Biggest Banks Rescue Teetering First Republic
www.nytimes.com
In an extraordinary effort to stave off financial contagion and reassure the world that the American financial system was stable, 11 of the largest U.S.
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WASHINGTON — If a number defined the 2010s, it was 2 percent. Inflation, annual economic growth, and interest rates at their highest all hovered around that level — so persistently that economists, the Federal Reserve and Wall Street began to bet that the era of low-everything would last.
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Credit Suisse to Borrow Up to $54 Billion From Central Bank
www.nytimes.com
Credit Suisse, the 166-year-old institution that was once an emblem of Swiss pride, is fighting for its life after investors, fearing that the bank would run out of money, dumped its stock and sent the price of insuring its debt against a default skyrocketing.
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Goldman Sachs Eyes a Big Payout From Silicon Valley Bank Deal
www.nytimes.com
As an adviser to Silicon Valley Bank, Goldman Sachs last week tried to pull off a last-minute capital raise to save the firm from collapse.
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Inside the Collapse of Silicon Valley Bank
www.nytimes.com
Gregory Becker, the chief executive of Silicon Valley Bank, leaned back in his chair at a technology conference last week in San Francisco’s luxurious Palace Hotel, and delivered a bullish message. In the confident, almost bombastic, style that was his signature, Mr.
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Markets Tumble as Bank Fears Go Global
www.nytimes.com
Stock markets tumbled on Wednesday, as investors’ fears over the health of the banking industry resurfaced and spread around the world, undoing a rally on Tuesday when the panic appeared to pause. On Wall Street, the S&P 500 fell 1.
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The Justice Department has opened an investigation into the collapse of Silicon Valley Bank, the California lender that was taken over by federal regulators on Friday after its depositors rushed to pull their money out of the bank, two people with knowledge of the matter said.
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Banking Turmoil: What We Know
www.nytimes.com
On Friday, Silicon Valley Bank, a lender to some of the biggest names in the technology world, became the largest bank to fail since the 2008 financial crisis. By Sunday night, regulators had abruptly shut down Signature Bank to prevent a crisis in the broader banking system.
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Federal Reserve’s Path Is Murkier After Bank Blowup
www.nytimes.com
The Federal Reserve’s hotly anticipated March 22 interest rate decision is just a week and a half away, and the drama that swept the banking and financial sector over the weekend is drastically shaking up expectations for what the central bank will deliver.
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Risky Bet on Crypto and a Run on Deposits Tank Signature Bank
www.nytimes.com
Signature Bank, a New York financial institution with a big real estate lending business that had recently made a play to win cryptocurrency deposits, closed its doors abruptly on Sunday, after regulators said that keeping the bank open could threaten the stability of the entire financial system.
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Regulators Close Another Bank and Move to Protect Deposits
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Federal regulators announced on Sunday that another bank had been closed and that the government would ensure that all depositors of Silicon Valley Bank — which failed Friday — would be paid back in full as Washington rushed to keep fallout from the collapse of the large institution from sweepin
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Fox’s P.R. Woes May Not Directly Translate to Legal Ones
www.nytimes.com
For the past three weeks, a drip, drip, drip of disclosures have exposed widespread alarm and disbelief inside Fox News in the days after the 2020 presidential election, as the network became a platform for some of the most insidious lies about widespread voter fraud.
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Why Did Silicon Valley Bank Collapse?
www.nytimes.com
The failure of Silicon Valley Bank was caused by a run on the bank. The company was not, at least until clients started rushing for the exits, insolvent or even close to insolvent. But banking is an enterprise that relies as much on confidence as on cash — and if that runs out, the game is over.
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Silicon Valley Bank Collapse: What We Know
www.nytimes.com
On Friday, Silicon Valley Bank, a lender to some of the biggest names in the technology world, became the largest bank to fail since the 2008 financial crisis. The move put nearly $175 billion in customer deposits under the control of the Federal Deposit Insurance Corporation.
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Silicon Valley Bank Fails After Run by Venture Capital Customers
www.nytimes.com
If there is one enduring axiom in banking, it is this: Don’t run out of money. Silicon Valley Bank, a lender to some of the biggest names in the technology world, did just that on Friday, becoming the largest bank to fail since the 2008 financial crisis.
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A Bank Run Jolts Markets as Investors Weigh the Jobs Report
www.nytimes.com
Investors were pulled in two directions on Friday as a crisis at a small California bank raised concerns about the health of the banking sector, while fresh data on the labor market offered some reasons for optimism. The push-and-pull made for a turbulent start to the day.
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Records Show Fox and G.O.P.’s Shared Quandary: Trump
www.nytimes.com
It was a week after the 2020 elections, and Tucker Carlson — along with Fox News executives and other hosts — had watched with panic as Fox viewers, furious and disbelieving at President Donald J. Trump’s defeat, began to turn against the top-rated network. The viewers believed Mr.
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In an unusual broadside against a major conservative television star, the Biden administration on Wednesday directly criticized the Fox News host Tucker Carlson over his on-air portrayal of the Jan.
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5 Times Tucker Carlson Privately Reviled Trump: ‘I Hate Him’
www.nytimes.com
Documents released in recent weeks as part of a $1.6 billion defamation suit against Fox News by Dominion Voting Systems have revealed extraordinary private communications and depositions from the network’s star hosts and executives.
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WASHINGTON — President Biden on Thursday will propose policies aimed at trimming federal budget deficits by at least $2 trillion over the next 10 years as his administration embraces the politics of debt reduction amid a fight with Republicans over raising the nation’s borrowing limit. Mr.
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How Judy Blume Finally Got a ‘Yes’ From Hollywood
www.nytimes.com
The lunches Judy Blume used to have in Hollywood would all go the same way, she said. “Judy, sweetheart, what would you like to do?” the men would ask — and they were always men. “We want to work with you.
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It had been more than a week since the news networks projected that Joseph R. Biden Jr. would become the next president. And Tucker Carlson, Sean Hannity and Laura Ingraham were at a loss about what to say on the air. “What are we all going to do tmrw night?” Ms. Ingraham, the host of the 10 p.
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Fed Chair Opens Door to Faster Rate Moves and a Higher Peak
www.nytimes.com
Jerome H. Powell, the Federal Reserve chair, made clear on Tuesday that the central bank is prepared to react to recent signs of economic strength by raising interest rates higher than previously expected and, if incoming data remain hot, potentially returning to a quicker pace of rate increases.
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Biden Budget Will Propose Tax Increase to Bolster Medicare
www.nytimes.com
WASHINGTON — President Biden, as part of his budget set for release on Thursday, will propose raising and expanding a tax on Americans earning more than $400,000 as part of a series of efforts to extend the solvency of Medicare by a quarter-century. In spotlighting his Medicare plans, Mr.
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You’re Now a ‘Manager.’ Forget About Overtime Pay.
www.nytimes.com
For four years beginning in 2014, Tiffany Palliser worked at Panera Bread in South Florida, making salads and operating the register for shifts that began at 5 a.m. and often ran late into the afternoon. Ms. Palliser estimates that she worked at least 50 hours a week on average.
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