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How does a bank collapse in 48 hours? A timeline of the SVB fall

Published Sat, 22 Feb 2025 03:53:56 GMT

  (CNN) — This week, the go-to bank for US tech startups came rapidly unglued, leaving its high-powered customers and investors in limbo.Silicon Valley Bank, facing a sudden bank run and capital crisis, collapsed Friday morning and was taken over by federal regulators.It was the largest failure of a US bank since Washington Mutual in 2008.Here’s what we know about the bank’s downfall, and what might come next.What is SVB?Founded in 1983, SVB specialized in banking for tech startups. It provided financing for almost half of US venture-backed technology and health care companies.While relatively unknown outside of Silicon Valley, SVB was among the top 20 American commercial banks, with $209 billion in total assets at the end of last year, according to the FDIC.Why did it fail?In short, SVB encountered a classic run on the bank.The longer version is a bit more complicated.Several forces collided to take down the banker.First, there was the Federal Reserve, w...

NH lawmaker arrested for obstructing snowplow

Published Sat, 22 Feb 2025 03:53:56 GMT

CONCORD, N.H. (AP) — A Republican lawmaker in New Hampshire was arrested Friday for allegedly screaming and swearing at a snowplow truck operator who recorded the confrontation and later reported him to police.Rep. Jeffrey Greeson, 51, of Wentworth was charged with disorderly conduct, criminal threatening and simple assault, according to police. He was released on personal recognizance and ordered back to Plymouth District Court on May 18.Police said they made the arrest after receiving a report that a member of the Wentworth Highway Department had been obstructed in his efforts of snow removal by a citizen and had recorded part of the encounter on his cell phone.Greeson didn’t immediately respond to an email to his Statehouse office seeking comment Friday.Paul Manson, the road agent in Wentworth, said he had already been plowing for about six hours Saturday when he encountered Greeson standing in the middle of the road around 8 a.m.“He just started giving me hell, and I didn’...

Thieves are taking Dodge Chargers by pushing them into the street, programming with new keys

Published Sat, 22 Feb 2025 03:53:56 GMT

 RED GROVE, Illinois (WBBM) — Car thefts are at their highest level in the U.S. since 2008, and Illinois tops the list.Now, one man from the south suburbs says he knows what is pushing the numbers higher. He caught thieves on surveillance camera pushing his car from his house.The man, Jawuan Bishop, told CBS 2’s Sara Machi he’s he is sick of the trend. Meanwhile, a car expert is looking for solutions.“Sadly enough to say, I kind of already expected that to happen,” Bishop said. “I just didn’t think my day was going to come that day. But it did. And that’s just what happened.”That was Bishop’s reaction after watching video of thieves stealing his Dodge Charger this week. He said he has heard of this trend and caught it on video – after thieves break a rear window, they are able to essentially put the Dodge in neutral.One person is then seen running behind the car to push it into the street. Others joined – a...

Scattered showers in San Diego are expected to taper off at this time

Published Sat, 22 Feb 2025 03:53:56 GMT

SAN DIEGO -- It was a wet Saturday morning for several parts of San Diego County, but the National Weather Service says residents may not need their umbrellas all weekend. Scattered showers are expected to be the most widespread in the morning hours and should decrease into Saturday afternoon, according to weather officials. Looking ahead, the tail end of the rain is expected to taper off Saturday night. Wet weather could impact weekend plans NWS says dry and mild weather conditions are forecast for Sunday and slightly warmer temperatures are expected into Monday. According to weather officials, Sunday's high will range from 65 to 70 degrees west of the mountains, around 50 degrees in the mountains, in the low 80s in the low deserts and upper 60s in the high deserts. This isn't the last of the rain and wind. NWS says the next storm in "the parade of seemingly endless winter storms" is forecast to arrive Tuesday, moving across southern California into the night before leaving the r...

Police: Podcaster and husband shot dead in Seattle-area home

Published Sat, 22 Feb 2025 03:53:56 GMT

REDMOND, Wa. (AP) — A podcaster and her husband were found shot to death in their suburban Seattle home, along with a man who had been suspected of stalking the podcast host for months, in what police who had tried to serve a protection order in the case described as their “worst nightmare.”Police had been trying to serve a protection order on Ramin Khodakaramrezaei, 38, before Friday’s killings, but they had been having a hard time locating the truck driver from Texas, Redmond Police Chief Darrell Lowe said. Zohreh Sadeghi, 33, and her husband, Mohammad Milad Naseri, 35, had just received the court order a week earlier.Sadeghi’s mother called police around 1:45 a.m. Friday after she escaped the home and ran to a neighbor’s house.Officers found Naseri lying on the floor near the door of the home and pulled him outside and saw that he had a gunshot wound. They performed CPR, but he died at the scene. Inside the home, officers found Sadeghi and the suspect dead.“This...

US agencies debunk Florida surgeon general’s vaccine claims

Published Sat, 22 Feb 2025 03:53:56 GMT

ORLANDO, Fla. (AP) — U.S. health agencies have sent a letter to Florida’s surgeon general, warning him that his claims about COVID-19 risks are harmful to the public.The letter from the U.S. Food and Drug Administration and the Centers for Disease Control and Prevention was sent Friday to Florida Surgeon General Joseph Ladapo. Ladapo was appointed by Republican Gov. Ron DeSantis in 2021 and has attracted national scrutiny over his close alignment with the governor in opposing COVID-19 vaccine mandates and other health policies embraced by the federal government.Ladapo last year released guidance recommending against COVID-19 vaccinations for healthy children, contradicting federal public health leaders whose advice says all kids should get the shots. He also has recommended against men ages 18 to 39 getting the mRNA COVID-19 vaccines, claiming that an analysis by the Florida Department of Health showed an 84% increase in cardiac-related deaths.In their letter, the federal agen...

Coroner: Death of former Ohio AMBER Alert infant unexplained

Published Sat, 22 Feb 2025 03:53:56 GMT

COLUMBUS, Ohio (AP) — An autopsy has concluded that the death of one of two Ohio twin boys who became the center of a statewide AMBER Alert that garnered nationwide attention last year was due to “sudden unexplained infant death” that involved an “unsafe sleep environment.”The Franklin County Coroner’s Office on Friday cited “no evidence of trauma, foul play, abuse, or neglect” in the Jan. 28 death of the 6-month-old Columbus boy.The office said the child had been placed face-down on an adult bed with excess bedding and pillows, which it called an unsafe sleep environment, after being fed and was left unsupervised, but it could not be determined whether such “significant conditions” played a role in his death.The coroner’s office said young infants have limited neck muscle strength to reposition their airway which can lead to a form of oxygen deprivation, but the office couldn’t confirm or exclude “a contributory component of mechanical or obstructive asphyxia” so the manner o...

Americans’ fun road trip to Mexico became days of horror

Published Sat, 22 Feb 2025 03:53:56 GMT

LAKE CITY, S.C. (AP) — It was supposed to be a fun road trip to Mexico, a post-pandemic adventure for a group of childhood friends.One was treating herself to cosmetic surgery after having six children. It was a 34th birthday celebration for another. They rented a white van in South Carolina and set out on the nearly 22-hour trip, shooting silly videos and driving straight through to Brownsville, on the tip of Texas.“Good morning America!” Eric Williams said into the camera in the early morning hours after the all-night drive. “Mexico, here we come.”But once they got to Mexico, the trip took a terrible turn. Two members of the group would never make it home, victims of the ruthless Gulf Cartel, a drug gang tied to brutal killings and kidnappings in the violent border city of Matamoros, a city of a half a million people that has long been a stronghold of the powerful cartel.There could hardly be a worse border town to pick for a fun adventure.It all started when Latavia McGee, booked...

Ukrainian firefighters on risky mission to save lives, homes

Published Sat, 22 Feb 2025 03:53:56 GMT

KOSTIANTINIVKA, Ukraine (AP) — Thick grey smoke pours from the roof as the firefighters arrive at the brick house, one of several homes hit by Russian shelling in a residential neighborhood of Kostiantinivka. The city in eastern Ukraine’s Donetsk province has come under intense bombardment in recent days amid a Russian push to capture nearby Bakhmut, where Ukrainian forces have held on during a grinding battle that started last summer.Ukrainian authorities say Russian forces are attacking Kostiantinivka with cluster bombs and missiles. Pavlo Kyrylenko, the governor of Donetsk province, said one person was killed and at least three civilians wounded after several rounds of Russian shelling on Saturday.An attack on the city a day earlier injured eight people and destroyed or damaged more than a dozen houses. The barrages have overwhelmed local firefighters, who take great risks putting out fires in buildings and cars even as the shelling continues. The air is heavy with smoke an...

Whatever happened to Ontario’s plan to ditch time changes?

Published Sat, 22 Feb 2025 03:53:56 GMT

Remember all that talk about doing away with time changes? Well, here we go again. The clocks are springing forward on Sunday morning at 2 a.m. even though Ontario passed a bill back in 2020 to permanently stay on Daylight Saving Time. So why has nothing happened? The legislation passed in Ontario included a very important caveat – both Quebec and New York State had to make the move at the same time. The Ford government tells CityNews despite the legislation, nothing’s changed and they’re not willing to go it alone. And in a rare move, this is one issue that opposition leaders are actually in agreement with.“We voted for it, if New York does it, then we’re going to do it,” said Interim Ontario Liberal Leader John Fraser. “As long as we’re all on the same page with it, that’s what works.”“My personal preference is that we do not change the clocks in the spring and the fall,” Ontario Green Party Leader Mike Schrei...