good morning. breathe it in deep. the weekend is here. and welcome to cnn this morning. i m boris sanchez. is and i m paula reid. boris, it s great to be with you. we appreciate you getting up bright and early. amara is skiing somewhere in europe. here s a look at what we re watching this morning. overall we created more jobs in two years than any administration created in the first four years. president biden taking a victory lap following a strong jobs report. where we re seeing those jobs. plus a stunning free falls that led to the second largest bank collapse in u.s. history. and testing the waters. presidential hopefuls sworm iowa this week as the gop race heats up. we have new reporting about when ron desantis might announce that he s running. i looked on the ground and it was flooded. he seems to be in a smiling mood for a natural disaster. california soaked by the another round of storms. those atmospheric rivers washing out roads, collapsing bridges and
state of emergency as intense storms hammer the golden state. we can t live like this. atmospheric rivers washing out roads and bridges leaving people trapped in their mee joi management director from one of the hardest hit counties. the economy still red hot notching another strong jobs report. we ll tell you where the job gains are and why this complicates the fight to tame inflation. all the money is in the bank. i don t know what we re going to do now. reporter: a capital crisis, a stunning free fall leading to the second largest collapse of a financial institution in u.s. history. could there be a domino effect and what does this mean for those with accounts at svb? i think it was an overreaction to the destruction of property. large rocks, your only intent is to harm. police and protesters clashing over a controversial police training facility near atlanta. how things turned violent and why tensions remain high this weekend. can you feel that? it s the
that ensures bank deposits and overseas financial institutions. the agency says all insured depositors will have access to their deposits no later than monday morning. the fdic ensures deposits of up to $250,000. why did this bank fail so quickly? it is an old school bank run in a modern economy. you can point to two reasons. the first is that the fed has been increasing interest rates since 2022. that has an effect on thing bank s assets, which means its unrealized bonds were worthless money. those increased interest rates has had a devastating effect in the tech sector at large. the tech sector has seen layoffs and funds been sold off. that has led to panic. that s led to group chats of founders of vcs all abuzz with what to do with svp. that led to panic. nobody wants to be the last customer held at a bank. help break down all those affected. svb was the premier bank in silicon valley. we ve seen tech companies banking at svb as kind of a badge of honor. right now we
foregoing medical treatment and deciding instead to receive hospice care at his home. we will take a look at the 98-year-old s health and reaction coming in from around the world. plus top diplomats from the u.s. and china meeting after the shoot down of that suspected spy balloon. live in munich and tokyo to help repair strained relations. and secretary blinken on his way to turkey to assess the damage of the deadly earthquake. we will take to you istanbul for a preview of his upcoming trip. announcer: live from cnn center, this is cnn newsroom with kim brunhuber. on this sunday morning across the united states people from georgia, across the u.s. and around the world are praying for peace and comfort for former u.s. president jimmy carter. a statement from the carter center reads in part, after a series of short hospital stays, former u.s. president jimmy carter has decided to spend his remaining time at home with his family and receive hospice care instead of add
it s a very broad timeline she s offered up for when this could all happen we i know, i actually have fishing trip planned ends righ before july 11th, which mean it never works that way, you know what i m saying i m never that far away. all right i don t fish in the dee sea. we will keep our finger crossed, that that when it s a say in the books good to see you my friend, see you soon thanks, ali youtube and of course as you know and we were talking about, w have breaking news on the trum investigation out of georgia tonight. the fulton county just attorne fani willis sent a letter toda to the fulton county sheriff s office in the new future, she writes, i will be announcing chargin decisions resulting from the investigation my office ha been conducting into possibl criminal interference in the administration of georgia 2020 general election. i will announce charging decisions resulting from thi investigation during fulto county superior court s fourth term of co