approaches. we ll take you to monterey county. the fallout from the silicon valley bank collapse as customers wait to hear if they will recover their money. many worry if it will lead to even more bank closures. and in israel, hundreds of thousands take to the streets to protest the prime minister s plan to overhaul the court system. we re live in tel aviv,. life from cnn center, this is cnn newsroom with leila harak. we begin in the u.s. where 15 million in california and nevada are under flood alerts. some of those flood watches have been extended through wednesday. as the rain tapers off and flooding slowly improves across much of california for now more rain is expected on surnl and the next big storm system is forecast to arrive late monday night and last through at least wednesday. that would be the lefned atmospheric river event of the season. there are concerns especially in monterey county where a breached levee has already current. cnn s mike valario has the sto
some signs that the temporary ceasefire agreement due to end in a day s time could be extended. hamas and us presidentjoe biden have said they would like to see an extension, but the israeli prime minister said he was open to the idea but has also warned that the war will resume at the end of the deal. 0ur senior international correspondent aurier garin has more. rejoicing in israel after the darkness of recent weeks. the latest group of hostages freed from gaza waved to supporters as they are welcomed home. both israel and hamas are signalling their deal could be extended to free more of those being held. for reunions like this, after 50 days apart. young hostages finally home. emily hand embraced by herfather, thomas, who at one stage believed her dead. now she is free and, he says, doing well. yesterday, we finally got emily back from the hands of the gazan terrorists. she s lost a lot of weight. from herface and body. but generally doing better than we expected. emily s f
of liquid products sold in wall street, and when the property market went down, those products very quickly had to be revalued. china, most of its debt is held in these shadow banks and in some of the bricks and mortar banks so the rate of decline can be slowed a little bit. howeverthe decline can be slowed a little bit. however the biggest issue is debt. overall the debt in the property sector is huge. as much as 30% of bank assets, and that will take a long time to unwind, and the centre of government is very reluctant to step in and probably can t have enough cash. step in and probably can t have enough cash- enough cash. under the circumstances - enough cash. under the circumstances what - enough cash. under the circumstances what one j enough cash. under the - circumstances what one needs to be done? ., ., , ., be done? the garment has to make decisions be done? the garment has to make decisions on be done? the garment has to make decisions on allocatingl make decis
been chasing this property bubble, and in order to create this bubble, offering very very high returns and it works for quite a while because property prices were going up and everybody was sort of a win win for everybody. the everybody was sort of a win win for everybody- for everybody. the property developers for everybody. the property developers could for everybody. the property developers could throw - for everybody. the property developers could throw up i developers could throw up buildings that people thought that they needed, and investors would get the returns of ten or 15%. however, bubbles everywhere crashed, united states it happened in 2009, and that s what s happening now. so therefore all these investment products are no longer worth very much. it is a little surprising but the central government is making this into a criminal case because it s basically a lack of regulation. it is not necessarily that anybody who was stealing the money although that s al
the firm has a sizeable exposure to china s real estate industry that has been rocked by serious financial problems like evergrande and country garden. having a look at how this impacts the chinese economy i have been speaking to andrew collier, an expert on shadow banks. the bigger threat is not so much a meltdown like the united states had in 2009. that occurred because there was lots of liquid products sold in wall street, and when the property market went down, those products very quickly had to be revalued. went down, those products very china, most of its debt is held in these shadow banks and in some of the bricks and mortar banks so the rate of decline can be slowed a little bit. however, the bigger issue is debt. overall, the debt in the property sector is huge. as much as 30% of bank assets, and that will take a long time to unwind, and the central of government is very reluctant to step in and probably can t have enough cash. under the circumstances, what needs to