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☆ 151 years before Trump was indicted, Ulysses S. Grant was arrested for speeding on a horse-drawn carriage
▼ + stars: | 2023-03-31 | by ( John Haltiwanger | ) www.businessinsider.com time to read: +4 min

In 1872, President Ulysses S. Grant was arrested for speeding on his horse-drawn carriage in Washington, DC. In 1872, President Ulysses S. Grant was arrested for speeding on his horse-drawn carriage in Washington, DC, which was highlighted by the Washington Post back in 2018 as Trump's legal woes were growing. Grant apparently had a penchant for speeding and a love for fast horses and had more than one run-in with West. West replied, "I want to inform you, Mr. President, that you are violating the law by speeding along this street. "I cautioned you yesterday, Mr. President, about fast driving, and you said, sir, that it would not occur again," West reportedly told Grant.

The White House's push for more regulation comes after days of turmoil in the banking sector after the collapse of U.S. lenders Silicon Valley Bank and Signature Bank. "This ... is really about making sure that we are protecting the resilience and stability of the banking system going forward," the official added. Silicon Valley bank had $209 billion in assets at the end of last year. According to Federal Reserve data, about 30 banks had assets of more than $100 billion at the end of last year, a list that included Silicon Valley Bank and Signature Bank. The Fed and other bank regulators have indicated they are already looking to strengthen bank rules, particularly for firms between $100 billion and $250 billion in assets.

WASHINGTON, March 30 (Reuters) - The secretive world of Federal Reserve bank supervision has been laid bare by the collapse of Silicon Valley Bank and critics say it needs an overhaul to make it more nimble, transparent and decisive. Typically, bank supervisors do most of their work behind closed doors. Bank supervision is typically conducted behind closed-doors because of concerns that publicizing bank missteps could spur bank runs and undermine confidence in the overall system. SVB's rapid growth also was a factor for Fed supervisors. Barr said part of his review would look at whether Fed supervision was appropriate for the bank's "rapid growth and vulnerabilities."

☆ Watch CNBC's full interview with former PIMCO's Paul McCulley
▼ + stars: | 2023-03-28 | 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 EmailWatch CNBC's full interview with former PIMCO's Paul McCulleyPaul McCulley, former PIMCO chief economist and Georgetown professor, joins 'Squawk on the Street' to discuss his thoughts on the Fed and rate hikes.

The conservative-leaning court will issue rulings this spring in cases questioning the legality of race-conscious admissions at Harvard and the University of North Carolina. To increase enrollment of all underrepresented groups on campus without race-conscious admissions, the study said, schools would need to overhaul the entire process. The study's authors said it was unlikely that schools would universally adopt class-conscious admissions. Those that do try class-conscious admissions might still face discrimination lawsuits if they start giving explicit preference to low-income students, Carnevale added. Schools would have to invest heavily in expanding their recruitment of high school students from disadvantaged backgrounds for a class-based alternative to produce anywhere near the level of racial diversity accomplished through race-conscious admissions, the study found.

☆ The No. 1 best U.S. city to live in is Cambridge, Massachusetts—see which other cities made the list
▼ + stars: | 2023-03-26 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

Niche released its list of the best U.S. cities to live in 2023. This month, Niche released its ranking of the best cities to live in America in 2023. The list ranked 228 cities by using data from the U.S. Census, FBI, Bureau of Labor Statistics and CDC in combination with millions of resident reviews. Like Cambridge, the second city on the list, Arlington, Virginia, is home to top-class universities like Georgetown and George Washington University. Arlington, Virginia also ranks as one of the best cities to raise a family and retire.

☆ JFK and Jackie Kennedy's first home as a married couple is going up for sale in DC. The listing includes candid photos of the couple.
▼ + stars: | 2023-03-26 | by ( Katie Balevic | ) www.businessinsider.com time to read: 1 min

The home was the Kennedy's first as a newlywed couple. John F. Kennedy says goodbye to his wife, Jackie, who is on her way to classes at Georgetown University's Foreign Service School. One of the old homes of former President John F. Kennedy is about to be listed publicly for sale in Washington, DC, and the listing includes candid photos of his life with Jackie Kennedy early in their marriage. The home at 3321 Dent Place NW, where the Kennedys "signed their first lease as a newly married couple," will be listed this week for $2 million, according to Redfin. The broker, Michael Brennan, did not immediately return Insider's request for comment.

[1/2] U.S. Supreme Court Justice Ruth Bader Ginsburg delivers remarks during a discussion hosted by the Georgetown University Law Center in Washington, D.C., U.S., September 12, 2019. A rare meeting of the Supreme Court Bar, comprised of attorneys admitted to practice law before the court, featured speeches from people who worked closely with Ginsburg including U.S. Trump also appointed conservative Justices Neil Gorsuch in 2017 and Brett Kavanaugh in 2018. Appointed to the Supreme Court by Democratic President Bill Clinton in 1993, she provided key votes in landmark rulings securing equal rights for women, expanding gay rights and safeguarding abortion rights. Ginsburg was the second woman ever named to the court, after Justice Sandra Day O'Connor.

☆ First Republic just got a $30 billion lifeline from JPMorgan and other Wall Street giants. Here's why its problems aren't over.
▼ + stars: | 2023-03-16 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

JPMorgan and 10 other banks are depositing $30 billion in First Republic Bank. A white knight has arrived to First Republic Bank's rescue. A consortium of America's biggest banks including JPMorgan Chase, Morgan Stanley, and Goldman Sachs are depositing a collective $30 billion in First Republic. This $30 billion lifeline may not be enough to reassure investors and depositors, and it may be a stopgap measure before a sale. The $70 billion lifeline from JPMorgan announced on Sunday did little to quell investors' concerns, Dahiya noted.

☆ Jackie Kennedy's former house is on sale for $26.5 million, making it the most expensive listing in Washington DC. Take a look at the property and its 200-year history.
▼ + stars: | 2023-03-16 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +1 min

This compound in Washington D.C.'s historic Georgetown neighborhood is listed for $26,500,000. The centerpiece home on 3017 N St. NW was built in 1794 by the second mayor of Georgetown. It later became the residence of a secretary of state, a KGB spy, and First Lady Jackie Kennedy. Other significant residents include a US secretary of war, a KGB spy, and a former Miss America. 3017 N Street NW was declared a National Historic Landmark in 1976.

☆ SVB is still looking for a buyer. Here is what we know so far.
▼ + stars: | 2023-03-13 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

The weekend came and went without a buyer for SVB Financial Group, the parent company of the failed Silicon Valley Bank. SVB Capital focuses on venture capital and credit investing and SVB Securities is its investment banking arm. Axios reported Monday morning that JPMorgan and PNC were in talks to acquire SVB Financial Group but not the failed commercial bank. SVB Securities, better known as SVB Leerink, the investment banking arm born out of SVB's 2018 acquisition of Leerink, is a very desirable business, he added. "SVB Leerink is a well-known name in the tech and healthcare space that will be attractive to someone," said Healy.

☆ Who will step up to buy SVB? The white knight might be a bank outside Wall Street.
▼ + stars: | 2023-03-11 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

SVB Bank, which catered to startups and tech founders, imploded in three days after a run on the bank. SVB Financial is reportedly looking to find a buyer by Monday. The implosion of Silicon Valley Bank means a working weekend for some bankers. SVB Financial Group is on the hunt for a buyer after regulators closed its Silicon Valley Banking business, according to Bloomberg. Though SVB's bond losses are taking up the headlines, its parent company SVB Financial has two business segments that are enticing.

☆ Silicon Valley Bank's collapse means startups and VCs face billions in losses
▼ + stars: | 2023-03-11 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +4 min

SVB's startup and VC customers are staring down huge losses after its failure. A buyer is being sought for the failed bank by Monday to avoid more calamity for startups. SVB customers stare down big lossesIn a report on Friday, the ratings agency Moody's said it expected a recovery rate of 80% to 90% for uninsured depositors. While there were likely billions in deposits withdrawn prior to SVB's closure, there's still likely to be many billions left at risk. SVB's deposits soared in recent years as it became the go-to lender in the VC ecosystem.

☆ Hundreds of startups face a crippling cash crunch and an 'extinction-level event' if no one buys Silicon Valley Bank by Monday
▼ + stars: | 2023-03-11 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +5 min

Silicon Valley Bank's collapse has left hundreds of startups facing a cash crunch and payroll crisis. It leaves hundreds of startups that deposited their cash with the bank in turmoil, as they try to continue operating while millions in funds are locked up. Startups scramble for cashThe need for startups to make payroll is one being echoed across the VC ecosystem. In a tweet, founder Nikita Bier said: "The number of growth stage companies that had their cash at SVB is huge. Even startups that didn't bank directly with SVB have been hit by its collapse.

☆ The Justice Department investigated Jeffrey Epstein's death. Then it went silent.
▼ + stars: | 2023-03-09 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +25 min

Jeffrey Epstein's death in a federal jail was seen as a shocking Justice Department failure. But more than three years later, the office still hasn't released its report into the circumstances of Epstein's death. "We all took it by surprise," Mark Epstein told Insider. Barr tasked the Justice Department's inspector general, Michael Horowitz, and the FBI with investigating "the circumstances of Mr. Epstein's death." Mark Epstein told Insider that he spoke to his brother about once a month in the years before his death.

☆ Allbirds admits missteps, unveils new strategy after brutal holiday quarter
▼ + stars: | 2023-03-09 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +2 min

A woman walks past an Allbirds store in the Georgetown neighborhood of Washington, D.C., on Tuesday, Feb. 16, 2021. The company is betting its new strategy will reignite growth, improve capital efficiency and drive profitability in the coming years. The company said its most recent quarter was hurt by a "disappointing" holiday season. While full year net revenue increased by 7% to $297.77 million, Allbirds' net losses in its first full year as a public company ballooned to $101.35 million, more than double the $45.37 million in losses it recorded in 2021. Gross margins in the quarter decreased to 43.1% compared to 50.2% in the year ago period as selling, general and administrative expenses jumped to $41.6 million, compared to $36.7 million in the fourth quarter of 2021.

☆ Wall Street sees big gains for Meta, if it keeps cutting costs — and we agree
▼ + stars: | 2023-03-09 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

Meta stock has rallied more than 50% since the start of the year. Wall Street's take UBS on Thursday called Meta its "favorite name in internet," citing higher earnings-per-share (EPS) potential as a result of costs cuts. Oppenheimer on Wednesday increased its price target on Meta stock to $235 per share, up from $220. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Meta Platforms CEO Mark Zuckerberg speaks at Georgetown University in Washington on Oct. 17, 2019.

☆ Salad Chain That Thought It Was a Tech Firm Looks Wilted
▼ + stars: | 2023-03-06 | by ( Spencer Jakab | ) www.wsj.com time to read: 1 min

Sweetgreen has faced sharply rising cash expenses for food, leases and labor. “I was an overnight success all right, but 30 years is a long, long night.”When Ray Kroc founded McDonald ’s, he had no more than a high-school education and grease under his fingernails. He took a winding path to eventual fast-food riches in middle age. They met in an entrepreneurship class at Georgetown University, raised hundreds of millions of dollars in venture-capital funding and were all named to a Forbes “30 Under 30” list. The salad chain was valued at nearly $6 billion a day after its 2021 initial public offering.

☆ The push for a bitcoin ETF is going to court. Here's what you need to know
▼ + stars: | 2023-03-06 | by ( Jesse Pound | ) www.cnbc.com time to read: +6 min

The years-long push for an exchange traded fund that tracks bitcoin will finally get its day in court this week. Several different firms tried to bring a spot bitcoin ETF to market in the U.S. without success, but Grayscale Investments is taking it a step further for the future of its Grayscale Bitcoin Trust (GBTC) . The largest of those funds, the ProShares Bitcoin Strategy ETF (BITO) , now has nearly $800 million in assets under management. Over the past year, the market price of a GBTC share has fallen by roughly 60%, according to Grayscale's website. Crypto winter The excitement around a bitcoin ETF has cooled considerably along with the prices for crypto markets in general.

☆ The US Air Force is stripping most of the identifying information off of its biggest planes
▼ + stars: | 2023-03-05 | by ( Thomas Novelly | ) www.businessinsider.com time to read: +6 min

US Air Mobility Command has ordered its refueling and cargo planes to obscure their identifying markings. "At the end of the day, it's still very clearly an Air Force plane unless you're going to start painting them white or something," Paladino said. A US Air Force C-130 with most of its markings removed at Rafael Hernández International Airport in Puerto Rico on February 25. Minihan's memo, which was leaked in late January, highlights the mentality and war footing on which he's placed Air Mobility Command, which has historically been used as a support organization for combat operations. Air Mobility Command played a major role in the Afghanistan evacuation in 2021 and continues to help deliver weapons and aid to Ukraine in its fight against Russia.

☆ Nations reach accord to protect marine life on high seas
▼ + stars: | 2023-03-05 | by ( ) www.cnbc.com time to read: +5 min

The U.N. Convention on the Law of the Sea came into force in 1994, before marine biodiversity was a well-established concept. The treaty will create a new body to manage the conservation of ocean life and establish marine protected areas in the high seas. "For the first time, we are getting a binding agreement for the high seas, which until now have hardly been protected," Lemke said. Several marine species — including dolphins, whales, sea turtles and many fish — make long annual migrations, crossing national borders and the high seas. The high seas have long suffered exploitation due to commercial fishing and mining, as well as pollution from chemicals and plastics.

☆ Fact Check-Video of alleged assault on priest is from Guyana in 2020, not France
▼ + stars: | 2023-03-01 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

A video showing a man appearing to assault a priest in a church is from an incident in Georgetown, Guyana in 2020, not in France as has been claimed online. The footage was posted on Twitter with the caption: “France: black ‘refugee’ interrupts Mass, assaults priest, and steals the Holy Bible #BlackLivesMatter” (archive.is/1M5AS)Iterations of the claim were also seen on Facebook: (here) and (here). Reuters Fact Check has previously debunked claims circulating in Portuguese that the same video shows an incident in France (here ). Reuters has previously debunked claims that migrants were engaged in a brawl on the streets of Wicklow, Ireland (here)VERDICTMiscaptioned. The video is an old clip dating to 2020 in Guyana, not France, as claimed online.

☆ College is still worth it, research finds — although students are growing skeptical
▼ + stars: | 2023-03-01 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Ben Kirkhoff, a high school senior at Cretin-Derham Hall in St. Paul, Minnesota, knows that a four-year college degree isn't for him. Even though his parents have a college savings account for him, he said money is still a factor. Instead, Kirkhoff, who is 17, will attend Dakota County Technical College in Rosemount, Minnesota, next fall to become an electrician. Although Kirkhoff is the only one of his friends who decided against a four-year school next year, more high school students nationwide are questioning the value of college. More from Personal Finance:Apprenticeship programs are becoming more popularThe cheapest states for in-state college tuitionThe most-regretted college majorsFor decades, research showed that earning a degree is almost always worthwhile.

☆ The racial retirement savings gap remains wide – How these state IRA programs are working toward equity
▼ + stars: | 2023-02-28 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Indeed, about 64% of Hispanic workers, 53% of Black workers and 45% of Asian American workers have no access to a workplace retirement plan, according to AARP. State-facilitated individual retirement account savings programs have stepped in to attempt to close that racial savings gap. As of the end of January, there were more than $735 million in assets in these state-facilitated retirement savings programs, the center found. How it worksRather than competing against large corporate retirement plans, state-facilitated retirement savings programs turn their focus toward an underserved corner of the market: small businesses. Most of these state programs require businesses to either offer a workplace retirement plan or to help automatically enroll their workers into the state's program.

☆ The U.S. and China have a culture clash around their telephone hotline
▼ + stars: | 2023-02-28 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

It isn't the first time China didn't answer the phone — a hotline set up for emergencies. Chinese culture is a reason why, said Shen Yamei, deputy director and associate research fellow at state-backed think tank China Institute of International Studies' department for American studies. She said she wasn't aware of what actually happened between the U.S. and China regarding the declined phone call. "The PRC did not do that," the secretary said, referring to the official name of China. Using a hotline to diffuse a potentially dangerous situation does imply there's a situation that needs to be diffused, Bodine said.

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