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production. alaska republican senator is here to weigh in. i think a lot of us were panicking. we re trying to get through it and open different bank accounts quickly. am i nervous? no. it is backed, secured, the government is doing the right thing. i m shocked it happened. i m devastated it happened, because svb was the heart of the ecosystem for the technology and venture company world. president biden says americans should feel confident in the state of the economy, but inflation collapses are doing little to confirm those fears. hello and welcome, everyone. i m sandra smith. i m john roberts in washington. this is con america reports. businesses and the broader economy. the february report further complicating the federal reserve s big decision on interest rates. it is looming. many economists are pleading with chairman powell to tap the breaks on the rate hikes following the collapse of two may major u.s. banks. first we re going to peter who is trav ....
without power and commuters facing a travel nightmare. i think people thought that w winter was going to be done and over with and now we re getting hit. this is new england it is about time well, on the west, more catastrophic flooding in the forecast in the wake of weeks of unrelenting rain thousands now under evacuation orders, rescue teams already deployed to save people trapped in those deadly floodwaters. we re timing out both of these systems. and the gloves are off former president trump in iowa taking direct aim at his biggest competition for the gop ticket, florida governor ron desantis. ron was a disciple of paul ryan, who is a rino loser. how the crowd responded to that and why it may not be what the former president wanted to hear we re going to begin with the latest fallout from the collapse of silicon valley bank and the new inflation numbers out this morning. starting us off, jake ward in san francisco. our business and data reporter brian ....
Are eluding to the comments that they re having struggles. so are we looking at a big problem for the u.s. banking system? or is this concentrated in some of these regional banks? how do you see it? it is certainly more likely the latter, if it is even that big. so far we know that the silicon valley bank problem is a huge management error. they failed to manage the interest rate risk. and it was modelled on one type of customer and they ran into trouble at the same time and wanted their money back. that doesn t look like 2008 when there was risks across big banks. i think we re looking at things that are more isolated. it is more likely the in fact there is 0% interest rates and they re having difficulty managing the entries. an unprecedented environment, no doubt, steve. ....
Fistefist sophisticated hedge funds saw it, they took their money out. the previous largest bank run was $16 billion and took ten days this was money flowing out over a million dollars a second because they knew the bank was in trouble and that transparency was in the end what they could not escape it is very different than 2008 big management errors, there is an open question which the fed is trying to to address. this is an econ 101 mistake and it shouldn t have happened both on the supervision side and management side, the silicon valley bank is just a real management error. i want to talk on the supervision aspect in a moment we talked about this with jake, shares of u.s. regional banks nosedived yesterday. we saw san francisco-based first republic struggle. they have been able to meet withdrawal demands thanks to help from jpmorgan chase huh wo ....
The winter storm that disrupted thousands of travel plans over the weekend has created an epic pile-on of flight cancellations for Southwest Airlines, leaving thousands of families stranded, with some waiting for days to fly back home. ....