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Monday’s Mini-Report, 3.13.23

Today’s edition of quick hits.


Today’s edition of quick hits.

* The SVB story: “Federal regulators stepped in Sunday to back all Silicon Valley Bank deposits, resolving a key uncertainty surrounding the second-largest bank failure in U.S. history hours before global stock markets resumed trading.”

* The White House reacts: “President Joe Biden said Monday that people should ‘rest assured’ after his administration acted to ease uncertainties about the banking system in the wake of the collapse of Silicon Valley Bank last week, the second-largest bank failure in U.S. history. The president spoke about the actions taken by his administration to give the country confidence that the banking system is safe.”

* Silvergate was first, SVB was second, and Signature was third: “On Friday, Signature Bank customers spooked by the sudden collapse of Silicon Valley Bank withdrew more than $10 billion in deposits, a board member told CNBC.”

* The Willow Project: “The Biden administration on Monday gave the green light to a sprawling oil drilling project in Alaska, opening the nation’s largest expanse of untouched land to energy production. The multibillion-dollar project will be located inside the National Petroleum Reserve, about 200 miles north of the Arctic Circle, and could produce nearly 600 million barrels of crude oil over the next 30 years, according to the Interior Department.”

* ICC: “The International Criminal Court intends to open two war crimes cases tied to the Russian invasion of Ukraine and will seek arrest warrants for several people, according to current and former officials with knowledge of the decision who were not authorized to speak publicly.”

* Tristan Chandler Stevens’ lack of remorse didn’t help at sentencing: “A Florida man convicted of assaulting multiple officers on Jan. 6 was ordered to serve five years in federal prison Friday — but not before presenting a judge with a lengthy list of conspiracy theories he said explained his mindset on Jan. 6, 2021.”

* On a related note: “A former New York City police officer was convicted this week of several crimes for her role in the Capitol riot on Jan. 6, 2021, during which, prosecutors said, she pushed against and slapped the arms of police officers, all while yelling and wielding a tambourine.”

* All is not well in Florida: “The top diversity officer at New College of Florida has been fired, as a newly appointed crop of conservative trustees delivers on its promise to root out diversity programming from the small liberal arts institution in Sarasota.”

* The latest insider-trading conviction: “Former U.S. Congressman Stephen Buyer was convicted by a New York jury on Friday of trading on inside information he learned in 2018 as a consultant to T-Mobile US Inc. ahead of its $23 billion merger with Sprint. Buyer was a Republican from Indiana in the U.S. House of Representatives between 1993 and 2011 before working as a corporate consultant.”

* Heading home: "Senate Minority Leader Mitch McConnell, R-Ky., was 'discharged from the hospital today,' his communications director David Popp said in a statement Monday."

See you tomorrow.