Good Monday afternoon. President Biden sought to assure Americans the banking system is safe following the Silicon Valley Bank collapse, a major nor’easter is taking aim at the Northeast, and Donald Trump’s lawyer has revealed whether he will testify in a hush money investigation. Here is what’s in our Nightly Rundown. |
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Biden: “Banking system is safe” after Silicon Valley Bank failure |
President Joe Biden said Americans should “rest assured” that their money is secure following the collapse of Silicon Valley Bank last week, and the failure of Signature Bank, a second institution taken over by federal regulators over the weekend. “Thanks to the quick action of my administration over the past few days, Americans can have confidence that the banking system is safe," Biden said. "Your deposits will be there when you need them.” Biden said that “no losses” from the collapse of the banks “will be borne by the taxpayers,” and he added that the current management of those banks would be fired. Biden also took aim at the Trump administration for rolling back Dodd-Frank banking requirements in 2018, and called on Congress to once again “strengthen the rules for banks.” On Sunday, federal regulators said the government would back all Silicon Valley Bank deposits, even beyond the federally insured cap of $250,000. Depositors were told they would have access to all of their money again starting today, according to a joint statement from the agencies. |
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Major nor’easter to impact Northeast, another atmospheric rain event in California |
The late-winter nor’easter is expected to bring heavy snow, rain, and potentially damaging winds to the Northeast beginning later tonight through Wednesday. About 24 million people across the Northeast and New England are under winter alerts after an unusually mild season. More than a foot of snow is likely across the Catskills, the Adirondacks, the Berkshires, and the Green and White Mountains, with localized amounts up to 18 inches in higher elevations. New York Gov. Kathy Hochul has declared a state of emergency beginning at 8 p.m. ET tonight, and has activated the National Guard to assist with the response. On the other side of the country, another atmospheric river-fueled storm is expected to arrive tonight in flood-ravaged California. Over the weekend, a levee was breached in Monterey County, forcing evacuations. Dozens of rescues have been completed since Friday, authorities said. |
British Prime Minister Rishi Sunak says China is a “systemic challenge” |
British Prime Minister Rishi Sunak said that China presents a threat to the U.K.’s economic interests and poses a “systemic challenge” for global order, in his first exclusive U.S. broadcast interview since taking office with Lester Holt. “The behavior that we’ve seen in China over recent times is concerning,” Sunak told Holt at the USS Midway Museum, ahead of his summit in San Diego today with President Biden. “China is “acting in a more authoritarian fashion at home” and is “more assertive overseas,” Sunak said. “China represents the biggest state threat to our economic interests, for sure. And it’s a systemic challenge for the world order,” Sunak added. Watch more of Lester Holt’s interview with Sunak on tonight’s broadcast. |
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Trump will not testify before grand jury in hush money probe, lawyer says |
Former President Donald Trump will not appear before the New York grand jury probing a hush-money payment made to adult film actress Stormy Daniels before the 2016 election, Trump attorney Joe Tacopina told NBC News today. Trump opted not to sit for the grand jury after huddling with his legal team in Florida over the weekend. Michael Cohen, Trump’s former attorney and fixer, is testifying before the grand jury today about the payments he says he made to Daniels on Trump’s behalf. Trump has repeatedly denied having an affair with Daniels, and condemned the probe as a “Scam, Injustice, Mockery, and Complete and Total Weaponization of Law Enforcement in order to affect a Presidential Election!" in a weekend post on his social media site. Trump is visiting Iowa today for the first time since announcing his 2024 bid to retake the White House. Mike Pence, his former vice president and potential 2024 rival, issued over the weekend his sharpest rebuke yet of Trump’s actions on January 6th. “President Trump was wrong,” Pence said at the Gridiron Dinner in Washington, D.C., on Saturday. “I had no right to overturn the election. And his reckless words endangered my family and everyone at the Capitol that day, and I know history will hold Donald Trump accountable.” |
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What else we're watching: |
The Biden administration has approved a controversial plan to drill for oil in Alaska’s National Petroleum Reserve. |
Tiger Woods’ attorneys called Erica Herman a “jilted ex-girlfriend” in newly-filed court documents, after Herman filed a lawsuit seeking to nullify her NDA agreement with the golf star. |
“Everything Everywhere All at Once” dominated the 95th annual Academy Awards, including a historic Best Actress win for Michelle Yeoh. |
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Watch us this evening at 6:30 p.m. ET / 5:30 p.m. CT on NBC, or check your local NBC station listing. After the broadcast, access Nightly News video on NBCNightlyNews.com or the NBC News app. |
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