Good morning. Welcome to cnn this morning. A fresh start to your weekend. We thank you for starting with us. Im victor blackwell. Im amara walker. Thank you for sharing a part of your morning with us. The fight between Special Counsel and donald trump is heating up. Why theyre calling on the judge to take action after a social media post by the former president. This was crazy in new york city. Look at these pictures. There was some violence but a lot of chaos after a social Media Influencer posted about a give away and now that influencer is facing charges. And simone biles gets ready for a comeback after taking a break from the sport. We will have the latest on tonights competition. We begin with this latenight court filing from Special Counsel jack smith. He is now asking a federal judge to quickly set Disclosure Rules in the January 6th Case against former president donald trump. In the filing smith cited this social media post from trump earlier in the day that reads, if you go af
deeper trouble, and two credit firms downgraded first republic bank to jump status. though they gave back some ground by the close the dow industrials and s&p 500 still ended the day down significantly. shares of regional banks including first republic were down sharply, in first republic s case by more than 21%. big banks which are more tightly regulated also took a hit with citi group shares down 5%. we ll have more in a moment on what this means to markets and the economy. chris tone romans and phil mattingly with me for that. first we re joined by senator bernie sanders. senator sanders, how much confidence do you have in the banking system right now? and should people watching be worried about their bank and their savings? well, i think we re all concerned about what happened at silicon valley and we re looking at other banks around the country. and i think our hope and our prayer is that there s not going to be contagion. and i think it s imperative that the congress
have considerable leverage. in fact, paychecks now growing faster than prices. that is huge. strong wage growth is not really what jerome powell and his colleagues at the fed have. they want wages to go even further, to help drive inflation down. still, big picture, there s a lot to like about this jobs report. it s just one more indicator that supports a growing sense that the soft landing many thought was basically impossible might just be happening. victor and amara? matt, thank you. let s get some insight from a cnn global business columnist for the financial times. let s start with the job numbers, vrana. 187,000 jobs added in july. do you agree with those who say this is a goldilocks report, being just right? what does this mean for a potential soft land gds in your
have been the biden family s cocaine. the president s son is a self-acknowledged cocaine addict. senior staff doesn t have to check anything in a cubby. i wasn t searched by anybody, i didn t go through anything. staff that walks from the oval office could have walked through there and people giving a west wing tour, ed have walked through. this could have been a donor. whoever was a guest of the biden white house or staff, you don t get in otherwise. do you think we will ever know the name? we should. limited number of staffers on secret service register and the fingerprint issue. there are no cameras in the west wing, that is part of how white
and ensure to get the message out, a, credit suisse is not an us problem to some degree. and your money is safe. the problem right now is for bank investors. those the ones getting hit. for most people who it s covered by the fdic. you re going to go to the atm and get your money out. the issue here your money is safe. and the i think the white house and fed have made it clear they will make sure your money is safe. it s the investors in the banks when you see the stocks going down so much they re the ones getting hurt. that s important because what drove the collapse of silicon valley besides terrible risk management in terms of interest rate risk they had massive deposit outflows. people got scared to death, they shifted all their deposits away. the reason why systemic risks came up, the reason why the 16th largest bank in the country threatened the entire financial system for a 48 hour period depositors were fleeing.