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good morning, everyone. you can see poppy and don are in new york. we re going to begin this hour with breaking news. minutes ago we just got dramatic new video from the pentagon released by the military where you can see a russian fighter jet approaching the back of the american drone that has now been down for about 4,000 to 5,000 feet in the black sea. in this video, you can see where the russian fighter jet is going up to this american drone. it is dumping fuel on it. that s what you re seeing on the video as it s approaching here. then the jet goes away. it comes back and dumps more fuel. then it hits the american drone. it clips the drone. that is when you see the color bars there ultimately, of course, this is what led up to the downing of this drone that we have been following all week since this happened thcht interaction that happened on tuesday lasted for over half an hour. now, of course, that u.s. drone was forced to be downed in the black sea. general mill ....
we begin with a wide-ranging attempt to restore americans confidence in the u.s. economy, after weeks of troubling financial indicators. treasury secretary janet yellen spoke under oath today to answer questions about the controversial actions she and the federal government took to rescue silicon valley bank. our banking system is sound and that americans can feel confident that their deposits will be there when they need them. this week s actions demonstrate our resolute commit to ensure that our financial system remains strong. yellen also said that no taxpayer money is being used to reimburse those depositors. more on her testimony in just a moment. but first, let s check object markets right now. stocks are surging on word that major banks are in talks to rescue ailing first republic bank. cnn s matt egan is here with us. so talk about this potential rescue of first republic bank. yeah, bianna and victor, over the weekend, we had this government-led rescue. ....
price hike for the covid vaccine. senator bernie sanders calls it outrageous. he joins us live. this is what we re watching this hour. thank you so much for being here. i m kate bolduan. two big stories we re tracking. first, a major outage is causing huge flight disruptions. thousands of flights are delayed or canceled. rue now the faa did lift the ground stop that par liesed domestic air travel. the cause still unclear right now, even as airlines are starting to get flights back up in the air. we re also keeping a very close eye on the deadly storms in california. at least 17 people have been killed from what is now weeks of rain, floods, mudslides, and was some pretty big winds. as bad as it is already, more rain is still on the way. let s start with pete muntean. he s at reagan national airport. pete, a computer outage that absolutely no one needed right now. what is happening? reporter: no doubt, kate. the cascading effect is only beginning. 6100 at last check a ....
Length of the other. that s right. i think it s amazing that this lasted 30 to 40 minutes. yes. when these things happen, when an intercept occurs, what the aircraft comes up to the target that it s looking for and it takes a while to identify the target, in this case the russian pilots said this is a drone. they could have identified it. they would have then reported back to the ground controllers. the ground controllers would probably have directed them to go back to circle the drone. they may have also directed them to do these passes. and that is key. if we can find out whether or not they directed the pilots to make the aggressive passes, that then would have clearly indicated that this was a very deliberate action. that drone now, thousands of ....
This wasn t perhaps just one or two rogue pilots, that this order may have been given from the top of the military command there. yeah, that s right, brianna. in fact, when you study the russian air force, the way in which they do business, they are very much controlled by their ground controllers, who are, of course, in turn controlled by the commanders of the various units and all the way up all the way to moscow central. these guys do not act on their own. they are very much a force that does the bidding of the higher-ups, and rogue pilot in that military is a very rare thing. it does happen, but it s very rare. in this particular case, i m certain that the pilot was acting on orders from above. jill, a couple of outstanding questions, varying degrees of relevance here. whether the pilot intended to clip the drone, whether the instruction from the russian defense ministry was to clip the ....