Financial federal aid

The government takeover of Silicon Valley Bank and Signature Bank has bank customers large and small on edge. And while the banks failed for different reasons, the combination of a rapid rise in interest rates and high levels of uninsured deposits has also put stress on banks in Colorado and everywhere else. “The recent bank closures in California and New York appear to be outliers and not reflective of the norm for banks across the United States and Colorado. The California bank had significant concentrations of tech and venture capital clients while the N.Y. bank had a significant concentration of cryptocurrency clients,” the Colorado Bankers Association said last week in a statement. A research paper by finance professors Erica Jiang, Gregor Matvos, Tomasz Piskorski and Amit Seru, however, estimates that the nation’s banks are sitting on $2 trillion in unrealized losses in their investment portfolios because of higher interest rates and that 186 more banks could fail if they … [Read more...] about How Colorado banks compare to the financial institutions that just failed

This is a carousel. Use Next and Previous buttons to navigate 2 PAJARO, Monterey County — For nearly a week, Diego Garcia stayed at home in this farmworker community with his mother and three siblings — refusing to evacuate even as the water from the levee break flooded the street outside their apartment. The family couldn’t afford to pay for a hotel or another place to stay. But as the flood soaked the fields where Garcia’s mother picks strawberries, Garcia, 18, knew he had to leave his family and return to school and work in Watsonville. So the high school junior grabbed some clothes and drove past the police stationed at Pajaro River Bridge, tasked with keeping people out of Pajaro. Since he left three days ago, Garcia has returned to his high school, worked after school at a butcher’s shop and applied for a job at a local pizza shop. At night, he sleeps in his car at a park in Watsonville. “It’s hard,” Garcia said. “No one is going to have money … [Read more...] about Flooded out but resilient: Pajaro residents who stayed behind face mounting challenges

close Video Fixing FISA: Bipartisan lawmakers demand reforms Justice Department Inspector General Michael Horowitz found multiple examples of FISA misuse to surveil Trump campaign aide Carter Page; congressional correspondent Chad Pergram reports from Capitol Hill. The top Republicans on the House Judiciary and Oversight committees called on their GOP colleagues Tuesday to support the reform and reauthorization of the Foreign Intelligence Surveillance Act, while urging members to further investigate how the tool was purportedly “weaponized” to target political opponents. In a memo to all House GOP members obtained by Fox News, the committee Republicans –­ including Reps. Jim Jordan, R-Ohio, Mike Johnson, R-La., and others –­ noted the importance of more investigations into “how and why the Obama-Biden Administration weaponized our national security apparatus and the FISA process to target its political adversaries.” President Trump … [Read more...] about Top Republicans urge GOP colleagues to support FISA reform, probe how tool was ‘weaponized’

close Video Fox News Flash top headlines for March 22 Fox News Flash top headlines are here. Check out what's clicking on Foxnews.com. One of the state's lead prosecutors who helped convict Derek Chauvin of murder in the May 2020 killing of George Floyd has been appointed as a judge in Hennepin County, Minnesota's governor announced Tuesday. Gov. Tim Walz said Matt Frank "will be a remarkable judge who will approach this position with the understanding that justice is a process, not a result." Frank is an experienced attorney with the state Attorney General's Office, and he helped lead the state's prosecution of Chauvin and three other former Minneapolis police officers who were charged in Floyd's killing. MINNESOTA MOVES TO FORTIFY STATUS AS REFUGE FOR PEOPLE SEEKING ABORTIONS Chauvin was convicted of murder and manslaughter and sentenced to 22 1/2 years in prison. He later pleaded guilty to a federal count of violating … [Read more...] about Lead prosecutor who helped convict Derek Chauvin of murder appointed judge in Hennepin County

Wall Street investors are dumping First Republic Bank stock as if it were radioactive. Some of its largest depositors are yanking out their money as if its collapse were imminent. But allegiance remains strong among many in the impressive roster of companies, nonprofits and individuals featured in the San Francisco bank’s marketing campaign, even as they are bombarded with news reports that First Republic is fighting for its existence. Several said the bank proactively contacted them and helped them arrange their funds so they would be covered by the Federal Deposit Insurance Corp. guarantee, which applies to accounts up to $250,000 each. “I’m fiercely loyal to them,” said Dr. Eduardo Peña Dolhun, a San Francisco family physician and founder of two medical companies, DripDrop and AlphaSperm, who has been banking with First Republic for almost two decades. “They helped me build my entire professional life and have been incredibly supportive through my early years, and my … [Read more...] about ‘Not going to jump ship’: Here’s how First Republic Bank customers are reacting to its struggles