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silicon valley bank collapsed on friday, and the government of the state of new york shut down signature bank last night, claiming signature was on the verge of collapse. the federal government has since taken over that bank. president biden rushed out to the cameras this morning before the markets could open to try to calm the american people. he insisted there s no need for the public to worry, that their money is safe and the economy will not suffer. america can have confidence that the banking system is safe. your deposits will be there when you need them. every american should feel confident their deposits will be there if and when they need them. let me also assure you we will not stop at this. we ll do whatever is needed. the concern now is whether this was just the first part of a larger financial crisis and whether other banks or the markets will take a major hit in the coming days and the move by the biden administration to guarantee that the funds in thos ....
i just pray on all of us to maintain our vigilance, our common sense over the course of the next 24 to 48 hours. california s governor s warning residents that the severe weather isn t over just yet as 25 million of them are under flood watches right now. plus, more class fight material is found at the delaware home of president biden on the same day the attorney general names a special counsel to the case and search and rescue workers are desperately looking for survivors trapped in the rubble of an apartment building in ukraine after a russian missile strike. announcer: live from cnn center, this is cnn newsroom with kim brunhuber. we begin in storm ravaged california. here s what we know at this hour. u.s. president joe biden approved a major disaster declaration clearing the way for federal funds. some people in san bonito county have been ordered to leave their homes because of severe flooding. more than 25 million people are under flood watches. the gove ....
where he faces a possible life sentence and in ukraine, resistance forces are on the offensive as some analysts say the military s fighting capabilities are running out. we ll take you live to kyiv. but we begin with our top story right now, unfolding across the country, a travel nightmare for millions of people trying to get home after the christmas holiday as a monstrous winter storm barrels east. right now, more than 2800 flights have been cancelled. that s today alone leaving frustrated travelers strand ed i airport terminals. southwest will operate just one-third of its scheduled flights in the coming days representative from the pilot association says the airline s scheduling system is partly to blame. the death toll has climbed to 63 nationwide after this brutal storm blanketed parts of western new york with as much as four feet of snow and brought powerful wind gusts up to 70 miles per hour with more snow in the forecast, tishls fear the deet death toll coul ....
next? chief among them, when will congress have a new speaker of the house? plus damar hamlin remains in critical condition in the hospital. we ll talk to his high school football coach. a monster storm is hammering california right now. san francisco s mayor joins us live, as they prepare and are handling what they re going to do about the latest deluge. this is what we re watching at this hour. thank you for being with us. i m kate bolduan. 24 hours later, we have no speaker of the house and no clearer view when that would be decided. very soon the house is supposed to attempt to convene. kevin mccarthy incests he will not be dropping out of the race, and insists he can get to 218, despite failing to secure support in three votes. it is the first time in a century that the house did not elect a speaker on the first round of voting. at the heart of this mess is a small group of conservatives, about 10% of the republican conference, all of whom want more power, ....
authors have been gathering in new york to demonstrate their support, a week after he was seriously injured in a knife attack. hundreds of writers gathered at the city s public library to read his works and pay tribute. the government is to help run the majority of liverpool city council, after a report found extensive errors by the authority. a commissioner is being put in place to oversee the councils finances, with four others already in control of other council operations, including planning and regeneration. our north of england correspondent, judith moritz, has that story. the speed of change in liverpool has not been fast enough. for the last year, the government has helped to run some parts of the council, but the city s finances are still in such trouble, now they will also be supervised by whitehall. the city s mayor says that s not the right decision. i m not denying that we have problems, we do, and we re uncovering problems, more problems than we anticipate ....