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As the U.S. economy is reckoning with high inflation, the collapse of Silicon Valley Bank comes at a complicated moment. CBS News’ Senior National Correspondent Mark Strassmann is on the ground in Atlanta with more.
Asked about the “level of panic” in companies that banked with SVB, Chris Krebs says, “50% of venture capital companies banked with SVB. Approximately 60,000 companies. They don’t have access to information right now, in addition to access to their money.”
New Jersey @GovMurphy tells @margbrennan he is “concerned, but not panicked” about the SVB collapse, and that his state’s “economic development authority is preparing a package largely focused on liquidity to be there in case we need to be there.”
“The villain here are the attorneys general and governors…that are taking freedoms away from Americans,” says New Jersey@GovMurphy , amid news that Democratic California Gov. Newsom is ending contracts with pharmacies who won’t sell abortion-inducing medication in some states
As we celebrate Women’s History Month, @margbrennan reports on the reversal of women’s rights around the world that is now officially considered a global emergency.
Asked whether SVB’s failure was caused by mismanagement, Treasury Secretary Janet Yellen said on Sunday: “The FDIC has placed this bank in receivership and will be working...to manage its resolution. And in the meantime, I really can't comment on details about the situation.”
“He made a mistake,” @SpeakerPelosi says on Trump's tweet about Yovanovitch during her testimony. “I think part of it is his own insecurity as an impostor...he knows full well he's in that office way over his head. And so he has to diminish everyone else.”
@SecBlinken : The U.S. has given the “green light” to NATO countries if they choose to provide fighter jets to Ukraine, one day after President Zelensky made a plea to members of Congress to provide them during a Saturday Zoom call.
Dr. Deborah Birx on #Covid19 #disinformation inside the #Trump White House: “I saw the president presenting graphs that I never made” she tells @margbrennan “Someone inside was creating a parallel set of data and graphics that were shown to the president" More on @FaceTheNation
“I think, frankly, things are going well for the president,” Rep. @Jim_Jordan tells CBS News.
In a new @CBSNewsPoll , 72% of the nation believes mass shootings are preventable, however, there is a partisan split with 44% of Republicans saying mass shootings are something we have to accept. @SalvantoCBS breaks down these numbers.
@SenTedCruz on Hong Kong protests: “What's happening here in Hong Kong is inspiring.”
BIDEN’S CASH: @BernieSanders slams @JoeBiden 's fundraising efforts: "I don't go into rich people's homes like Joe Biden" does. Adds, "This is a campaign of working people and by working people"