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
situation room. the lead with jake tapper starts right now cnn s breaking news welcome to the lead. i m jake tapper. we are following breaking news out of donald trump s hush money cover up trial in new york city were right, this i mean, it michael cohen is facing an incredibly aggressive cross-examination so far, trump attorney todd blanche has gotten cohen to confirm that he wants to see trump convicted in this case, that he makes money off of his anti-trump social media posts and even sells merchandise showing trump in jail. earlier today, prosecutors had cohen explained why he felt there was the pressure campaign to keep him from turning against trump. and how and why he eventually flipped from a loyal confidant to a cooperating witness. prosecutors also tried to get ahead of the defense by having cohen admit to multiple lines. he has previously told including his plea of not guilty his plea of guilty to the tax charges the sent him to prison cohen also owned up to the
treated to a show. experts say the solar storm is no threat to humans. as for the dazzling displays there is still a small chance you might be able to see them tonight. your best odds for viewing is to get far away from the city lights. congresswoman jasmine crockett joins me in just a few minutes to talk about the biden administration s approach to israel. plus, she is documenting it, telling me the story without words. one of the trump trial sketch artist will join me to tell me what she is seeing and thinking as history plays out before her in this hour starting right now. t now. a very good day, welcome, everyone. we are on the brink of history in less than 24 hours. michael cohen will take the stand in a manhattan courthouse. transformer fixer is expected to testify how he fronted a big payment to stormy daniels to keep her quiet about the alleged affair with trump ahead of the election. i m kind of looking forward to it. you can be finished with something unless y
storied criminal trial. are cameras just captured trump going back into the courtroom, he waved at reporters but in th, did not stop to say anything. i am john roberts in washington. gillian: think of having me, john i m gillian turner in for sandra smith that a-determiner. this is america reports. stormy daniels took the stand at 10:30 this morning starting by describing her upbringing, family life and early career than what she got into the details of the sexual encounter she says she had with trump now about 18 years ago. john: expert analysis to cover everything we have heard so far and to react to the new testimony as it happens. gillian: first we go to nate foy live outside new york state supreme court with the latest details on the trial. hey. hey, jillian, former president donald trump posted on truth social callings is an agent case saying it should never been brought. this is as court is about to resume with stormy daniels on the stand. her first couple
about so where does it all go from here? plus, did trump cross the line, judge juan merchan may once again punish the former president for violating his gag order, what the prosecution is asking for as they try to get trump to stop. on the surface, it may seem that trump s trial and the escalating violence and chaos on college campuses have nothing to do with each other, but one of trump s former aides says it may, in fact, be part of a perfect political storm that is helping trump, boosting his election odds even as he sits quietly in court. but we start right here in new york city where a lunch break just began after a pretty wild morning at trump s trial. it s the former president accused of a crime, but today s proceedings have been focused squarely on his former fixer, michael cohen, his credibility, his likability and the lengths he went to to protect his boss as election day 2016 approached. cohen hasn t even taken the stand, but his name has already come up more t