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Fed autopsy on SVB faults bank’s management — and its own oversight

Published Wed, 26 Feb 2025 05:33:26 GMT

The Federal Reserve detailed serious management oversights by the executives of Silicon Valley Bank, which collapsed six weeks ago and sent financial markets reeling.In a hotly anticipated report released Friday morning, the Fed, which is SVB’s primary regulator, took responsibility for its own lapses, saying that supervisors “did not fully appreciate the extent of the vulnerabilities as Silicon Valley Bank grew in size and complexity” and “did not take sufficient steps” to ensure that SVB address its problems quickly.It recommended a sweeping re-evaluation of its regulatory and supervisory functions.“Following Silicon Valley Bank’s failure, we must strengthen the Federal Reserve’s supervision and regulation based on what we have learned,” said Michael Barr, the Fed’s vice chair for supervision. “This review represents a first step in that process.”At the time of its failure, SVB had 31 unaddressed “safe a...

San Jose teen shot in stomach, man wounded in head while driving in East Oakland

Published Wed, 26 Feb 2025 05:33:26 GMT

OAKLAND — A 14-year-old boy and a 28-year-old man were wounded by gunfire Thursday night as they were riding in a vehicle through in East Oakland, authorities said.The boy was wounded in the abdomen and the man in the head, authorities said. They were both in stable condition.The shooting happened about 10:27 p.m. Thursday in the area of Foothill Boulevard and Brookdale Avenue.The boy, who police were told lives in San Jose, and the man, who police were told lives in Hayward, were in a vehicle driven by another person when someone on the street began shooting at them.ShotSpotter technology indicated more than 20 rounds were fired, authorities said.Related ArticlesCrime and Public Safety | Two men arrested in East Bay parking-lot shooting Crime and Public Safety | Police seek suspect who left unexploded firework on East Bay school campus Crime and Public Safety | Maserati-driving suspects fail to steal catalytic converter, threaten wit...

Man bites off part of LAPD officer’s finger at subway station

Published Wed, 26 Feb 2025 05:33:26 GMT

LOS ANGELES (KTLA) - A homeless man allegedly bit off a portion of an officer’s finger during an arrest at a subway station in East Hollywood on Thursday.Los Angeles police officers assigned to the Metro Red Line were conducting routine activities at the Vermont/Santa Monica station when they spotted a man reportedly board the train with a meth pipe around 10:15 a.m.Police approached the suspect and escorted him off the train for a narcotics investigation. As the man was being held, he became violent and began fighting with officers which resulted in a use-of-force incident, according to police. Antioch man arrested Thursday for 5th time this year During the altercation, the suspect bit off a portion of a sergeant's pinky finger, police said. Witnesses said the man also tried to bite other nearby officers before he was subdued.The sergeant was transported to a local hospital for treatment. Doctors were not able to reattach the officer's fingertip. The suspect was also transported ...

Lawsuit: California prisons target 'foreign-born' inmates

Published Wed, 26 Feb 2025 05:33:26 GMT

SAN FRANCISCO (AP) — California’s corrections agency routinely refers inmates who appear to be “foreign-born” to federal immigration authorities even if they are U.S. citizens and lawful residents, with some improperly detained by the government for weeks after their sentences, said a lawsuit filed in state court Thursday.The lawsuit by the American Civil Liberties Foundation of Northern California also says that inmates singled out as being born outside the U.S. are denied access to rehabilitative programs. Man bites off part of LAPD officer’s finger at subway station Lawyers representing former and current inmates said in a news release announcing the lawsuit that California's policies and practices target immigrants and refugees based on place of birth, race and other prohibited classifications. Corrections officials refer hundreds of people each year to U.S. Immigration and Customs Enforcement, known as ICE, for possible deportation, even those born in the U.S., the lawsuit s...

An Insider's View of the Montana Legislature's Attacks on Trans Rep. Zooey Zephyr

Published Wed, 26 Feb 2025 05:33:26 GMT

The tenor of Montana’s legislative session was evident from the start. In January, less than a week into the biannual, monthslong lawmaking process, Republican state Sen. Keith Regier proposed a study to determine whether the federal government’s system of Native American reservations should be dismantled, suggesting rights to lands given to tribes after generations of dispossession should perhaps cease to exist.Peppered with racist stereotypes, the proposal ultimately crumbled in the face of local and national backlash, but the tone was set.In the months since, the Montana GOP’s willingness to push the envelope against perceived cultural enemies has only intensified, culminating this week in the expulsion of Democratic Rep. Zooey Zephyr, the first transgender lawmaker in the state’s history.“They have such anger and disdain and disgust that they can’t control it.”As policy director for the American Civil Liberties Union’s Montana office, Keegan Medrano has been in the Capitol...

Sports on TV for April 29-30

Published Wed, 26 Feb 2025 05:33:26 GMT

(All times Eastern)Schedule subject to change and/or blackoutsSaturday, April 29AUSTRALIAN RULES FOOTBALL5 a.m.FS2 — AFL: North Melbourne at Melbourne1 a.m. (Sunday)FS2 — AFL: Gold Coast at RichmondAUTO RACING4:25 a.m.ESPN2 — Formula 1: Grand Prix Sprint Shootout, Baku City Circuit, Baku, Azerbaijan9:25 a.m.ESPN — Formula 1: Grand Prix Sprint, Baku City Circuit, Baku, Azerbaijan10:30 a.m.FS2 — NASCAR Cup Series: Qualifying, Dover Motor Speedway, Dover, Del.11 a.m.FS1 — NASCAR Cup Series: Qualifying, Dover Motor Speedway, Dover, Del.1:30 p.m.FS1 — NASCAR Xfinity Series: The A-GAME 200, Dover Motor Speedway, Dover, Del.3 p.m.NBC — AMA Monster Energy Supercross: Round 15, Nashville, Tenn.BASKETBALL AFRICA LEAGUE9 a.m.NBATV — CFV-Beira vs. Petro de Luanda, Cairo, EgyptCOLLEGE BASEBALL12 p.m.SECN — Texas A&M at Arkansas2 p.m.ESPNU — Mississippi St. at Tennessee4 p.m.ACCN — Florida St. at Notre Dame5 p.m.BTN — Rutgers at Purdue7 p.m.ACCN — North Carolina at Virginia TechESPNU — Texas ...

Russia cracks down on more rights groups, raids activists

Published Wed, 26 Feb 2025 05:33:26 GMT

TALLINN, Estonia (AP) — Russian authorities have cracked down on more human rights groups, ordering one to shut down and raiding the homes of advocates from another — the latest steps in a clampdown that has intensified to unprecedented levels since the Kremlin sent troops into Ukraine.Police on Friday on searched the homes of three lawyers with a rights group that advocates against torture and offers legal aid, Team Against Torture.The group said in an online statement that the raids in Nizhny Novgorod, a large city in western Russia, came as part of a criminal probe launched earlier. No other details were given out of concerns for safety of the people the group is helping, the statement said.On Thursday, a court in Moscow ordered the shutdown of the Sova Center, a prominent non-governmental organization that monitors racism and xenophobia in Russia, as well as implementation of anti-extremism laws.The authorities accused the organization of violating its legal registration in Mosc...

House votes to restore solar panel tariffs paused by Biden

Published Wed, 26 Feb 2025 05:33:26 GMT

WASHINGTON (AP) — The House voted Friday to reinstate tariffs on solar panel imports from several Southeast Asian countries after President Joe Biden paused them in a bid to boost solar panel installations in the U.S., a key part of his climate agenda.The 221-202 vote sends the measure to the Senate, where lawmakers from both parties have expressed similar concerns about what many call unfair competition from China. Biden has vowed to veto the measure if it reaches his desk.The House vote would overturn Biden’s action last year pausing threatened tariffs that had led to delays or cancellations of hundreds of solar projects across the United States.Some U.S. manufacturers contend that China has essentially moved operations to four Southeast Asian countries — Thailand, Vietnam, Malaysia and Cambodia — to skirt strict anti-dumping rules that limit imports from China. A Commerce Department inquiry last year found likely trade violations involving Chinese products. Biden halted the...

¡Que susto! propietario de Maryland fue a acariciar al perro de su vecino cuando se dio cuenta que era un oso

Published Wed, 26 Feb 2025 05:33:26 GMT

Un propietario de Chevy Chase, Maryland, dijo que casi acarició a un oso que confundió con un perro en su patio trasero el miércoles por la noche.El propietario, que no quiso ser identificado, dijo que oyó un ruido en su patio trasero en la zona de Woodlawn Road y Spring Valley Road y pensó que era el perro de su vecino. Cuando salió a investigar, se acercó al animal y estuvo a punto de acariciarlo antes de darse cuenta de que era un oso.Volvió a entrar y llamó a la policía.La casa no está lejos de donde un oso negro fue visto en un vecindario de Kensington el lunes y el martes.Un video de vigilancia muestra al oso hurgando en los cubos de basura y dándose un festín el lunes por la noche en Dewmar Lane. El martes, los vecinos volvieron a ver al oso en Culver Street.La zona está a sólo unas manzanas de la circunvalación.“Anoche ni siquiera caminé a mi perro. No iba a ir a hacerlo y puede que tampoco lo haga esta noche hasta que haya alguna resolución”, dijo el residente I...

DeSantis’ overseas trip overshadowed by fight with Disney

Published Wed, 26 Feb 2025 05:33:26 GMT

TALLAHASSEE, Fla. (AP) — Florida Gov. Ron DeSantis hoped his first international trade mission would generate lucrative business deals and boost his foreign policy resume ahead of an expected presidential run. Instead, he faced questions about losing ground to former President Donald Trump and being taken to court by Walt Disney World.The trip reflected the intensifying pressure confronting DeSantis as some of his allies grow increasingly anxious about his White House prospects. Within a few short years, he rose from relatively a relatively obscure congressman to Trump’s leading Republican rival by embracing the former president’s cultural grievances without the constant tumult.But it turns out DeSantis isn’t immune from drama. Facing questions this week about his standing within the GOP and his fight with Disney, he’s sometimes appeared agitated, reinforcing concerns within corners of his own party about his readiness for the rigor of presidential politics. ...