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Daily News Brief for Tuesday, March 14th, 2023

Daily News Brief for Tuesday, March 14th, 2023

FromDaily News Brief


Daily News Brief for Tuesday, March 14th, 2023

FromDaily News Brief

ratings:
Length:
15 minutes
Released:
Mar 14, 2023
Format:
Podcast episode

Description

This is Garrison Hardie with your CrossPolitic Daily News Brief for Tuesday, March 14th, 2023. I hope you all had a fantastic weekend with you and yours! 
 
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https://www.foxnews.com/politics/biden-americans-confidence-banking-system-federal-response-svb-collapse
 
Biden says Americans should 'feel confident' in banking system after federal response to SVB collapse
 
President Biden says Americans should "feel confident" in their banking system after his administration's response to the collapse of Silicon Valley Bank (SVB) and Signature Bank last week.
 
Biden reiterated a statement from the FDIC and Treasury Department during public remarks Monday morning, telling reporters that the federal government would guarantee depositors at the banks access to their funds. He added that no such protection is being offered to the banks' investors, however. His administration has also fired the leadership at both banks.
 
"No losses will be borne by the taxpayers," Biden emphasized. "Instead, the money will come from the fees that banks pay into the deposit insurance fund. Because of the actions that our regulators have already taken, every American should feel confident that their deposits will be there if and when they need them."
 
Biden went on to call on Congress to pass legislation to "strengthen rules" on banks to prevent failures like SVB and Signature.The Santa Clara, California-based band collapsed last week and is now under the control of federal regulators. The SVB had been the 16th-largest bank in the U.S. prior to the bank run that led to its downfall.
 
Anxious depositors rushed to withdraw their money over concern for the bank’s health, causing its collapse, which may serve as "an extinction-level event for startups," according to Y Combinator CEO Garry Tan.
 
The Biden administration had earlier assured SVB depositors that they would have access to all of their funds on Sunday. The joint statement from the Treasury Department, Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) also emphasized that the action would come at no cost to US taxpayers.
 
"Today we are taking decisive actions to protect the U.S. economy by strengthening public confidence in our banking system," the joint statement said. "This step will ensure that the U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth."
 
Biden delivered his Monday remarks in a short briefing before traveling to California, where he is set to announce the sale of nuclear submarines to Australia.
 
https://dailycaller.com/2023/03/13/biden-desantis-florida-transgender-kids-sinful-national-law/
 
‘Close To Sinful’: Biden Floats Possibility Of Nation-Wide Transgender Law
 
President Joe Biden appeared to criticize Ron DeSantis on his handling of transgender youth and floated the possibility of a nation-wide transgender law in an interview clip released Monday.
 
“What’s going on in Florida, is as my mother would say, ‘close to sinful.’ I mean, it’s just terrible what they’re doing,” Biden said while speaking with actor Kal Penn.
 
Kal Penn previews interview with Biden, discusses guest-hosting "The Daily Show"-Play 2:12-2:56
 
DeSantis has led an administration-wide effort to ban sex change treatments for minors. He has said doctors should be sued for performing sex changes on children and suspended a state attorney refusing to adhere to the chi
Released:
Mar 14, 2023
Format:
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