Friday Afternoon Update: Biden Classified Docs, Run On The Bank, Spring Break Risks

This article was taken from Today’s Morning Wire Afternoon News Update. Click to listen to the podcast version Here.

Run to the Bank!

After a “classic” failure, Silicon Valley Bank has been declared bankrupt.Run to the bank.”

SVB, a California bank that mostly lends money to high-risk technology companies, suffered a capital crisis last week due to high interest rates. The Fed raised the rate of the fund to try and control inflation. This caused many bank assets to lose value.

Federal Deposit Insurance Corporation (FDIC) had taken control of the bank as of Friday. They assured customers that they would still have the bank. “full access” to their insured deposits.

Norfolk Southern CEO Testifies

Alan Shaw, Chief Executive Officer of Norfolk Southern Testified in the past On Thursday, the Senate Committee on Environment and Public Works apologized to his company for its role in the derailment of the toxic train in East Palestine, Ohio.

“I want to begin today by expressing how deeply sorry I am for the impact this derailment has had on East Palestine and the residents of other communities,” He said. “I am determined to make this right.”

Both sides of the aisle criticized Shaw for the tragedy.

Biden Classified Documents

The Biden Documents classified saga continues — as a new letter reveals that the National Archives told Congress it obtained nine boxes of materials from the Boston office of a personal attorney to President Joe Biden. This week, a letter was sent to two Republican senators. It contained new details regarding the inquiry into Biden’s handling of government documents. The letter specifically focused on Patrick Moore, who was the first to discover classified materials when packing up the president’s old think tank office in November. Acting Archivist of the United States Debra Wall wrote in the letter that the National Archives was informed Biden’s counsel began their review of the materials in the Penn Biden Center in October 2022 — earlier than previously known — and had moved some boxes to Boston at some point afterward.

Sens. Chuck Grassley (Republican-IA) & Ron Johnson (Republican-WI) are requesting additional information.

On Wednesday, Democratic Senator Mark Warner, Chairman of the Senate Intelligence Committee warned the U.S. intelligence agency leaders that Congress may not have enough transparency about the documents in order to prevent the Biden Administration from renewing a surveillance law. “This trust relationship has to go two ways,” He said.

Spring Break: Risks

America’s most beloved nation college kids Many people are planning to travel to Mexico and other tropical countries during spring break. While the State Department has warned Americans against traveling to certain areas of the country because of drug cartel activity or potential kidnappings and other concerns, a former FBI official warns that staying in safe and exclusive resorts can be dangerous.

“The problem with these self-contained resorts — and they have all kinds of security and protection and everything – [is] you have to get to the resort,” He Submitted Fox News host Jesse Watters. “So the danger is getting off the plane or bus or train and getting from the transportation hub to the actual resort where you have protection.”

He also added: “En route, you’re in danger, just like these Americans that were killed in Matamoros — because once they crossed the border they were on their own.”

College Attendance Is Declining

Fewer young people are opting to go to college — that’s According According to the Associated Press. The number of high school seniors matriculating to college dropped from 66% in 2019 to 62% between 2021 and 2021. The trend is thought to be due to generous sign-on bonuses as well as weariness with remote learning.

Sunday at the Oscars

Hollywood is gearing for the 95th Oscars, which will feature films such as “Everything Everywhere All At Once,” “Avatar: The Way of Water,” “The Fabelmans” They will compete for the prized best picture award. Jimmy Kimmel will host the ceremony at 8 p.m. Eastern. This is his third year hosting.

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“From Friday Afternoon News: Biden Classified Docs. Run On The Bank. Spring Break Risks“

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