what happened? erica, this happened so fast. it s stunning. silicon valley bank shut down by california regulators after the stock crashed by 60% yesterday after the bank said it needed to rapidly raise cash. this is easily the biggest bank failure since washington mutual fell apart in 2008 during the financial crisis. silicon valley bank, if you haven t heard of it, it is a major lender to tech start-ups. the fdic says that depositors that have $250,000 or less, they are insured here. they will get their money. they will get access to their money as soon as monday morning. but we know that some people, some entities, some start-ups, they have more than $250,000, and it s less clear what s going to happen to them. how did this happen? well, when the fed spikes interest rates, things tend to break. we know that the fed rate hikes have hurt the valuation of the tech companies that this bank catered to, also has hurt the value of the bonds that banks rely on to get cash. erica
that trump s legal team also filed a motion to fight the subpoena on the grounds of executive privilege, basically that the president and his senior aides can have internal communications that don t have to be shared. this is a separate matter pence s legal time is trying to block it on. pence s team did not comment, nor did the justice department. what i m told pence is doing with this is basically trying to block the testimony they believe is related and pertains to his legislative actions on that day, how he was acting as president of the senate. that could potentially cover a pretty broad swath of his testimony. they re not saying he won t testify overall but that is the argument they re making. we ll see if the former vice president is successful in that. he has written a book where he talked about things that happened leading up to and on january 6th that could potentially complicate this fight when it comes to the former president and to pence himself with this motion.
Number of 217 votes to win the gavel. Reporter do you think you have the votes on the floor today . We feel really good. We need to get a speaker today. We feel really good about where we are at. Steve kornacki will be with me to break down the vote from the big board. The latest nbc reporting on the breaking news that President Biden will leave tonight for israel and jordan to get humanitarian aid moving into gaza, Work On Releaing the hostages, and how gaza will look if hamas is removed. Hamas released a video of a hostage. The question, is it a signal that the terror group might be willing to deal . Good day, everyone. Im Andrea Mitchell in washington. A big day where the house is in session and ohio congressman jim jordan is the man of the hour. The Judiciary Chairmans bid for speaker is gaining steam within the House Republican conference. He is closing in on the 217 votes he needs to win. The battle for a man long viewed as the leader of House Revolutionaries to become second in
And can another candidate get 217 votes and this is a huge question as the leaderless house. He is using other to pressure the members of congress to vote for him. Yeah. That is exactly right. That is the hope that, ultimately that these members will come to his side. Expect there could be breaks in between each of these votes. We will see exactly how this plays out but a lot of uncertainty at the moment but there could be meetings that happen to try to pick off these members onebyone. We will see if they decide to recess longer a few hours or maybe come back the next day. We will see. They hope they can eventually get the members by tonight to come their way and perhaps that Pressure Campaign they believe will get them to come to their side. One said i will close out entirely if they pressure him. We expect him to vote for Steve Scalise on the floor and not jim jordan. Dana, what are you hearing . I want to underscore, based on some reporting that im doing, one of the aspects of jorda
Harris the Breaking News continues. Keep keep close on capitol hill, House Of Representatives expected to vote on speaker of the house any moment now. Congressman jim jordan hopes he has enough support. He has gained major momentum, but can only lose four votes. Well follow the action. He had enough votes to get to the nomination. Well bring updates as they happen. In the middle east, President Biden will travel to the middle east later today. The high stakes trip as israeli faces Rocket Attacks from hezbollah on northern border with lebanon. We learned they have 100,000 rockets should they want to engage, another front of war with hezbollah to the north and hamas together to the south against israel, bringing concern the conflict could escalate in the region. 2000 american men and women marines mostly, have been placed on ready to deploy to the middle east within 24 hours notice to aid israel in advisory and medical support roles, but everybody is armed. Im harris faulkner. Here with