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☆ Biden admin. is caving to domestic concern and not providing protection to Israel: AEI's Kori Schake
▼ + stars: | 2024-05-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBiden admin. is caving to domestic concern and not providing protection to Israel: AEI's Kori SchakeKori Schake, American Enterprise Institute director of foreign and defense policy studies, joins 'Squawk Box' to discuss the state of the Israel-Hamas war, President Biden's Israel ultimatum, the impact on U.S.-Israel relations, and more.

Persons: AEI's, Schake, Biden's Israel Organizations: American Enterprise Institute Locations: Israel

☆ Regional banks were all ‘guilty until proven innocent’ after Silicon Valley Bank, Citizens CEO says
▼ + stars: | 2024-03-10 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +9 min

Other regional bank stocks got slammed: By the end of the day, most saw their stock down by double-digit percentages. Kori Suzuki/ReutersIt’s been exactly one year since that fateful day marked the start of a string of subsequent bank failures. Because of that, “there will be bank failures,” Federal Reserve Chair Jerome Powell warned senators in his semi-annual testimony last week. Bruce Van Saun: People like to call last year’s bank failures regional bank failures. Office real estate is just one component of commercial real estate, albeit the most worrisome to banks and economists.

Persons: Bruce Van Saun, NYCB, Kori Suzuki, Reuters It’s, it’s, Jerome Powell, Van Saun, Richard Drew, didn’t, Michael Nagle, Joseph Otting, Otting, CARLOS BARRIA, we’re, we’ve Organizations: New, New York CNN, Citizens Financial Group, New York Community Bank, NYCB, Reuters, CNN, Signature Bank, Silicon Valley Bank, Citizens Financial, Providence, Financial Group, Bloomberg, SVB, we’re, SoFi, Citizens, OneWest Bank, CIT Group, REUTERS Locations: New York, Silicon, San Francisco , California, Providence , Rhode Island, Covid

☆ Why do people keep uninsured money in banks?
▼ + stars: | 2024-02-12 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

Somehow, the same issue plaguing last year’s failed banks is back in focus at the latest bank in crisis: massive loads of uninsured deposits. To be sure, the risk isn’t anywhere close to that of the banks that failed last year: About 94% of domestic deposits at Silicon Valley Bank were uninsured and 90% of Signature Bank’s deposits were uninsured, according to the Federal Reserve. The money is guaranteed by the Federal Deposit Insurance Corporation, which is funded by fees paid by major US banks. About 40% of all money in the US, or $8 trillion, sitting in banks is uninsured, said Lawrence White, a professor at New York University’s Stern School of Business. “It also risks violating the FDIC’s statutory requirement to resolve failed banks and protect insured depositors in the least expensive way possible.”Sometimes, he said, rescuing those uninsured depositors may be the cheapest way to protect insured depositors at banks.

Persons: NYCB, Brian Snyder, James Lee, David Wessel, Lawrence White, University’s, Banks, Ting Shen, ”, Kori Suzuki, JPMorgan Chase, Michael Ohlrogge, Maxine Waters, Elizabeth Warren, “ Organizations: New, New York CNN, New York Community Bancorp, Investors, Silicon Valley Bank, Federal Reserve, Bank, Xinhua, Federal Deposit Insurance Corporation, FDIC, Reuters, Brookings Institution, International Monetary Fund, University’s Stern School of Business, US Treasury, Bloomberg, Getty, Securities and Exchange Commission, Valley Bank, Signature Bank, JPMorgan, Bank of America, Citigroup, First Republic Bank, New York University’s School of Law, Financial Services, Banking Committee, CBS, Bank Coalition of America Locations: New York, Silicon, United States, New, ”, Washington , DC, San Francisco , California, Sen

TORONTO (AP) — You don’t expect to see a movie named “Dicks: The Musical” on the marquee and neither did its makers. Josh Sharp and Aaron Jackson, who created and star in “Dicks: The Musical,” certainly struggled to believe it. But “Dicks: The Musical," a freewheeling queer cult-favorite-to-be, is a gleefully tasteless bid to break free of comedy doldrums. “People maybe want to go for a bigger laugh but they’re afraid they’re going to offend too many people. As Jackson and Sharp developed the movie, they carved out the role of God, as narrator, for Yang.

Persons: “ Dicks, Bowen Yang, —, Josh Sharp, Aaron Jackson, ”, ” Jackson, Hanna, Barbera, Megan Thee, Megan Mullally, Nathan Lane, Larry Charles, “, Sharp, ” Sharp, Jackson, Yang, “ It’s, ‘ Barbie, ’ ”, ” chimed Yang, Charles, Seinfeld ”, Abbott, Costello, Sacha, Baron Cohen, doesn’t, ” Charles, they’re, ” “ Dicks, Kori Adelson, ’ ” Sharp, ” Yang, Mullally, ” “, Jake Coyle Organizations: TORONTO, Megan Thee Stallion, Toronto, New York’s Upright Citizens Brigade Theatre, bros, UCB, Chernin Entertainment, Twitter Locations: York, Los Angeles

But as the ramifications of Alabama Republican Sen. Tommy Tuberville’s freeze have grown, more of them are speaking out. Political Cartoons View All 1163 ImagesBut now even the Pentagon’s soon-to-be highest military leader is speaking out. It's not the first time general officer promotions have been frozen by a single senator. Six months into Tuberville's hold, 315 military officers are now affected, and the impact cuts deeper in some services. In the small and still growing U.S. Space Force, at least eight general officers’ nominations are on hold — but that’s one third of all of its 25 senior officers.

Persons: Alabama Republican Sen, Tommy Tuberville’s, they’ve, “ We’re, Mark Kelly, Kelly, he’s, Christopher Grady, Mark Milley, C.Q . Brown, can’t, Brown, ” Grady, Grady, there’s, Donald Trump’s, Biden, ”, Mark Harkins, ” Tuberville, Lloyd Austin, Tuberville, Larry Korb, It's, Democratic Sen, Tammy Duckworth, Trump, Alexander Vindman, Duckworth, Vindman, Chance Saltzman, we’re, Charles Flynn, Flynn, Kori Schake, “ It’s, ” Schake, Lisa Franchetti, Franchetti, —, hadn’t, ” Kelly, ” ___ Lita C, Baldor Organizations: WASHINGTON, —, Alabama Republican, ” Air Force, Air Combat Command, Uniformed, Chiefs, Air Force, Joint Chiefs, Air and Space Forces Association, Government Affairs Institute, Georgetown University, Biden, Pentagon, Defense Department, Center for American Progress, Democratic, . Space Force, Marine Corps, Space Force, Army, American Enterprise Institute, Senate Armed Services Committee, Embassy Locations: Alabama, Maryland, ”, Dobbs, Washington

The newly launched Professional Women’s Hockey League is quickly taking shape. The head coaches are but an example of the step up in class for women’s hockey, with Ryan reunited with Gina Kingsbury, who left Hockey Canada to be Toronto’s GM. Howie Draper, who coached the University of Alberta women’s team to eight national titles, was hired by New York. The majority of the players signed had connections to their respective communities, with most national team players staying in their home countries. She attended a prep school, and played for both the now-defunct Canadian Women’s Hockey League and National Women’s Hockey League Boston-based franchises.

Persons: Hilary Knight, Philip Poulin, Kelly Pannek, Troy Ryan, Courtney Kessel, Kori, Taylor Heise, ” Heise, I’m, Natalie Darwitz, Heise, Darwitz, Lee Stecklein, Kendall Coyne Schofield, Mark Walter, Billie Jean King, Ryan, Gina Kingsbury, Carla MacLeod, Howie Draper, Charlie Burggraf, Micah Zandee, Hart, Alex Carpenter, Abby Roque, Knight, ”, “, ” Pannek, Brant Feldman, Pannek, ” Darwitz, Kelly Organizations: Women’s Hockey League, Canadian, Minnesota, Golden Gophers, Associated Press, Los Angeles Dodgers, Hockey Canada, Czech Republic national, University of Alberta, New, Bethel University, Team USA, National Women’s Hockey League Boston Locations: Boston, Marie, Quebec, Minnesota, Toronto, Montreal, ., “ Minnesota, Chicago, Boston , New York, Ottawa, New York, California, Idaho, New England, City, Plymouth , Minnesota

☆ Here’s what the SVB report will (and won’t) include, according to top former Fed official
▼ + stars: | 2023-04-27 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

Randal Quarles, former vice chair of supervision at the Fed, told CNN in an exclusive interview that he doesn’t expect the report to uncover any smoking guns. For instance, SVB was able to opt out of holding capital against its unrealized investment losses. Cole Burston/Bloomberg/Getty ImagesIn Quarles’ view, returning to the pre-2019 requirements “would not have made any difference” in preventing SVB from failing. The real issue that the Fed’s report should address, he said, is why SVB’s uninsured depositors were so quick to flee. That’s why Quarles said he didn’t hear about the red flags Fed officials identified when he was vice chair for supervision.

☆ Why the Banking Mess Isn’t Over
▼ + stars: | 2023-04-23 | by ( Nick Timiraos | ) www.wsj.com time to read: 1 min

Depositor runs on Silicon Valley Bank prompted customers at other small or regional banks to consider moving uninsured deposits to the big money-center banks. Photo: KORI SUZUKI/REUTERSThe panic phase of the past month’s banking crisis may be ending. The big question now is how much of a hit the economy faces from any lending pullback. The answer may not be clear for months. The failures of Silicon Valley Bank and Signature Bank one month ago disrupted an already fragile equilibrium because many banks hadn’t raised deposit rates as the Federal Reserve aggressively lifted short-term interest rates to fight high inflation.

☆ Opinion: Top secrets come spilling out
▼ + stars: | 2023-04-16 | by ( Richard Galant | ) edition.cnn.com time to read: +16 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. Writing for CNN Opinion, Rep. Justin Pearson noted, “This should be a chastening moment for revanchist forces in Tennessee’s legislature and across the country. Over the long haul, the undemocratic machinations employed to oust us from office are destined to fail. Dr. Martin Luther King, Jr. once famously said that the moral arc of the universe bends toward justice. “As a Jewish historian,” Perry wrote, “I worry about the tension between preserving the memory of past hardships while not locking our entire history into a tale of oppression.

☆ Silicon Valley Bank red flags: Why did almost everyone fail to predict its collapse?
▼ + stars: | 2023-03-26 | by ( Allison Morrow | ) edition.cnn.com time to read: +8 min

A bank run took down Silicon Valley Bank on March 10, as depositors withdrew $42 billion in a single day. To embrace a uniquely Silicon Valley ethos that champions boldness, growth and disruption. Silicon Valley Bank held 55% of its customers' deposits in long-dated bonds whose value eroded as interest rates went up. Silicon Valley Bank held an unusually large proportion (55%) of its customers’ deposits in long-dated Treasuries. And for most of that year, Silicon Valley Bank was operating with a massive vacancy in its corporate leadership team: a chief risk officer.

[1/2] An employee holds the door open at the Silicon Valley Bank branch office in downtown San Francisco, California, U.S., March 13, 2023. Supervision of large banks like SVB, which was the 16th biggest U.S. bank at the time of its failure, is a shared responsibility of bank examiners employed by the regional Fed bank and Fed Board staff in Washington. Fed Chair Jerome Powell said this week he wants to identify "what went wrong here". Bank examiners at San Francisco Fed had flagged escalating problems at the Santa Clara-based bank suggesting issues with its ability to meet short-term cash needs like depositor withdrawals. As San Francisco Fed chair, Mehran headed the search committee that hired Daly for the top job at the bank in 2018.

☆ Apollo, Blackstone eye SVB assets - Bloomberg News
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

[1/2] Customers wait outside as an employee enters the Silicon Valley Bank branch office in downtown San Francisco, California, U.S., March 13, 2023. REUTERS/Kori Suzuki/File PhotoMarch 14 (Reuters) - Apollo Global Management Inc (APO.N) and Blackstone Inc (BX.N) have expressed interest in a book of loans held by Silicon Valley Bank (SVB), a subsidiary of the defunct SVB Financial Services Group (SIVB.O), Bloomberg News reported on Tuesday. Last week, Californian regulators shut down tech lender SVB after a failed share sale that saw $42 billion of deposit outflows in a day and escalated worries of a contagion across financial markets. Apollo, Blackstone, and SVB did not immediately respond to Reuters' requests for comment. Reporting by Mehnaz Yasmin in Bengaluru; editing by Uttaresh VenkateshwaranOur Standards: The Thomson Reuters Trust Principles.

☆ Private equity giants including Apollo, Blackstone eye SVB loan book- reports
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +2 min

[1/2] Customers wait outside as an employee enters the Silicon Valley Bank branch office in downtown San Francisco, California, U.S., March 13, 2023. REUTERS/Kori Suzuki/File PhotoMarch 14 (Reuters) - Apollo Global Management Inc (APO.N), Blackstone Inc (BX.N) and KKR & Co Inc (KKR.N) have expressed interest in a book of loans held by Silicon Valley Bank (SVB), Bloomberg News reported on Tuesday, citing people familiar with the matter. Buyout giants Ares Management (ARES.N) and Carlyle Group (CG.O) are also looking to buy the loan book, the Financial Times reported, citing people familiar with the matter. The surge in interest in the book follows the tech lender's failure last week to raise equity to plug a $1.8 billion hole after selling its $21 billion portfolio of securities at a loss. On Monday, SVB said it was planning to explore strategic alternatives for its businesses, including holding company SVB Capital and SVB Securities.

Hotel owners are lamenting a drop-off in corporate travel during the pandemic as finance, tech and other professionals spend less time on the road. But hoteliers are cheering the boom in travel by blue-collar workers. Construction crews, travel nurses, truckers and sales teams from small and medium-size businesses have packed hotels for much of the past three years.

☆ What happens when you stop taking a weight loss drug? Many people gain the weight back.
▼ + stars: | 2023-01-19 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Berkeley-Lovelace-Jr.Jpg | Berkeley Lovelace Jr. | ) www.nbcnews.com time to read: +4 min

She didn't find success until her doctor prescribed Wegovy, a weight loss drug, in August 2021. But it all stopped in February, when Bayandor's health insurance denied her coverage, forcing her to stop taking the medication. Artemis BayandorBayandor's experience isn't uncommon: Widespread shortages of Wegovy, a popular weight loss aid, have forced some people in the U.S. to stop taking it, leading them to gain some — or all — of their weight back. "When you're at that max weight loss, your body's hunger hormones are the highest," she said. In May, an unrelated thyroid issue landed her in the hospital and forced her to stop taking Wegovy.

☆ GOP election officials in two Arizona counties are delaying certifying their votes on the basis of unproven voting machine claims
▼ + stars: | 2022-11-22 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

Election officials in two Arizona counties are delaying certifying the midterm election results. The officials are citing unproven claims about voting machines in Maricopa County. The decision was made in protest against what some Republicans claim are irregularities in the midterm vote in Maricopa County, the state's largest county. Voting machines have long been the subject of far-right conspiracy theories, especially following Donald Trump's 2020 presidential election defeat, though no claims have been proven. On November 2o it was reported that Arizona Republican Attorney General Mark Brnovich had demanded that county officials provide a report on voting machine issues during the midterms.

Bogenschutz and his team specifically set out to test whether or not psilocybin, in addition to sessions of therapy, could cut cravings and help people with alcohol use disorder stay sober. Earlier research from institutions around the world has indicated that psilocybin has the potential to treat a variety of addiction disorders, including alcohol use disorder, opioid use disorder and addiction to smoking. Jon KostasWhen he began the psilocybin trial at age 25, he was consuming almost 23 drinks in a single bender. At the beginning of the first dose sessions, participants were given eye masks and headphones that played classical music. Bogenschutz said the rule of thumb with alcohol addiction treatment is that about one-third of patients who seek treatment will get better.

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