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Other voices: SVB mess demands a rethink on government bailouts

Published Fri, 15 Nov 2024 03:07:22 GMT

The demise of Silicon Valley Bank has put the U.S. government into an uncomfortable position, backstopping depositors like never before to prevent a broader and potentially devastating bank run.Given the risks, officials did the right thing. The hard part will be figuring out how to handle the consequences.SVB’s failure shouldn’t have presented a systemic threat. The cash crunch that forced it to sell assets at a loss was specific to its tech-startup customers, not a widespread phenomenon. The Federal Deposit Insurance Corporation was amply capable of handling its liquidation, which would entail reimbursing insured deposits and possibly imposing some losses on uninsured ones. The FDIC has successfully resolved hundreds of other banks this way.But SVB went down differently. Its customers, goaded by industry influencers, proved surprisingly quick to pull out their deposits ($42 billion in one day). Other banks’ customers started getting jittery, increasing the risk t...

Class A girls basketball quarterfinals: BOLD rolls into semifinals

Published Fri, 15 Nov 2024 03:07:22 GMT

BOLD’s defense, its quickness and the 1-2-3 punch of Mari Ryberg, Lainey Braulick and Mackenzie Visser proved to be a good fit for Maturi Pavilion as the third-seeded Warriors beat United Christian Academy, 67-29, in a Class A quarterfinalBOLD (25-5) advances to play Hayfield at 2 p.m. Friday at Williams Arena.“It’s gonna be fun,” said Visser, who had 12 points, 11 rebounds and three assists for the Warriors. “(It’ll be on) an even bigger stage now. …I think as long as we can keep playing the same defense that we have been, and work the ball around on offense, I think we’re sitting pretty good.”Ryberg added 26 points, eight rebounds, four steals and four assists for the winners.“I’d say we’re riding high,” Ryberg said. “We really just feed off of each other and play well together, so we’ve got to keep going.”Olivia Haukoos scored nine points, and Elizabeh Corley added seven points, five rebounds and three assists for (14-12), which was making its second straight state appearance but...

New York: State Rural Ambulance Services appoints final task force member

Published Fri, 15 Nov 2024 03:07:22 GMT

CAPITAL REGION (NEWS10) - Over 40 New York counties are considered to be rural, meaning they have a population of 200,000 or less. Yet, the needs of emergency medical services across the state are growing. Valatie 8-year-old with cerebral palsy inspires through family business The task force was created in January of 2022 and regulated by the Bureau of Emergency Medical Services and is comprised of a twelve-member team. The newest appointee is Dr. Mariom Terenzio, President at SUNY Cobbleskill.“I am fortunate enough to learn from my faculty, all of whom are practicing paramedics. I see it up close and personal, their needs, how they train and the impact they have on our rural communities.The task force will evaluate and provide guidance for managing rural community EMS service needs in an effort to better provide more efficient services to those who may need it most.“One thing we're learning early on from the data is there's a direct correlation between lower staff and higher...

Mother of Jefferson County detainee wants to visit son in ICU

Published Fri, 15 Nov 2024 03:07:22 GMT

JEFFERSON COUNTY, Mo. - Raynah Rey is the mother of a detainee in Jefferson County. She was surprised to learn from another inmate that her son, Cedric, was taken to an area ICU for an apparent overdose.“If this is a facility where outside visitors are not allowed, how on earth did fentanyl get into this facility?” Rey said.Jefferson County Sheriff Dave Marshak confirmed an inmate was being treated at an area hospital for what is believed to be an overdose related to fentanyl. He said jails across the country face challenges regarding fentanyl because a small amount can generate a high.The department recently added a body scanner to help detect contraband. Marshak said his office takes its responsibilities for inmate health seriously and that poor health decisions by inmates create challenges. Third teenage boy arrested in killing of Lake St. Louis girl Rey said she tried to visit her son in the ICU but was informed it would be unlawful to see him.“I don’t understand why I would b...

Dogtown prepares for St. Patrick's Day parade “rain or shine”

Published Fri, 15 Nov 2024 03:07:22 GMT

ST. LOUIS - The Dogtown neighborhood is gearing up to celebrate the Irish with the annual St. Patrick’s Day parade.On Thursday, a sea of green packed St. James the Greater Church. The special mass kicked off a weekend of festivities despite the rain and cold."The weather may be cold and windy tomorrow, but that's a lot like it is in Ireland," said Jim Mohan, publicity chairman for the St. Patrick's Day parade. "So we kind of feel like a good sign of something similar to our Irish heritage and our homeland." Third teenage boy arrested in killing of Lake St. Louis girl That pride was already on full display, along with safety measures to keep crowds at bay. It includes barricades, fencing, and a slew of road closures along the parade route.Officers from the St. Louis Metropolitan Police Department will be patrolling the event with additional officers on foot. Their traffic safety division will assist with street closures and rerouting traffic. To make sure you don't drink and d...

Avalanche holds off Senators 5-4 for 4th straight victory

Published Fri, 15 Nov 2024 03:07:22 GMT

OTTAWA, Ontario — Mikko Rantanen had a goal and two assists, Lars Eller scored a strange deciding goal and the Colorado Avalanche beat the Ottawa Senators 5-4 on Thursday night for their fourth straight victory.Colorado defenseman Cale Makar had a goal and an assist, and Lars Eller, Valeri Nichushkin and Evan Rodrigues also scored. Nathan MacKinnon had three assists, and Jonas Johansson stopped 31 shots.“They started to bring it to us a little bit in the third, but I thought we defended well,” Rodrigues said. “Big faceoffs at the end, and a huge save from (Johansson) at the end. We got the two points. That’s what we wanted.”Drake Batherson, Shane Pinto, Travis Hamonic and Brady Tkachuk scored for Ottawa, Tim Stutzle had three assists and Mads Sogaard made 25 saves. The Senators have lost four in a row.“We left it all out there. It’s frustrating because you want to get rewarded for all the hard work,” Tkachuk said. “I though it was huge character displayed by this group with al...

Man hospitalized after stabbing near Santa Monica Beach

Published Fri, 15 Nov 2024 03:07:22 GMT

Police are investigating after a man was hospitalized after a stabbing near Santa Monica Beach on Wednesday.The suspect was identified as Allen Cranford Barna, 40, by the Santa Monica Police Department.Officers responded to reports of an injured person at Palisades Park near the Camera Obscura building around 8:15 a.m.When police arrived, they found the victim had been stabbed in the upper torso.The victim was a Santa Monica city employee who had “attempted to rouse an individual sleeping in the area,” police said.The suspect, Barna, had fled the area before police arrived. Man wielding metal pipe charged with hate crime attacks in Santa Monica The victim was transported to a local hospital with non-life-threatening injuries, officials said.Barna was located on Thursday morning and taken into custody on charges of aggravated assault, authorities said.The incident remains under investigation.Anyone with information about the case or the suspect is asked to contact Detective Pollnow...

Warriors fill final roster spot by converting Anthony Lamb to standard deal

Published Fri, 15 Nov 2024 03:07:22 GMT

ATLANTA — The depleted Warriors decided to move forward with filling their final roster spot Thursday night, converting two-way forward Anthony Lamb to a standard NBA deal, a source confirmed Thursday evening.Lamb is expected to be available Friday in Atlanta for a game the Warriors desperately needed bodies. Golden State was down to just nine available players after Draymond Green was suspended for one game without pay after picking up his penalty-triggering 16th technical foul of the season in Wednesday’s loss to the Clippers.The Warriors are also without Andrew Wiggins, who remains away tending to a family matter; Gary Payton II, who is ramping up after a core injury sidelined him for the last month-plus; and Andre Iguodala, who needs what could turn out to be season-ending surgery on his broken wrist.Lamb emerged as a regular member of coach Steve Kerr’s rotation this season, but due to limitations with the two-way deal could play only 50 NBA games — his ...

Red flag law used against SF synagogue shooting suspect

Published Fri, 15 Nov 2024 03:07:22 GMT

SAN FRANCISCO (KRON) -- While gun reform legislation has been stalled at the federal level, city and county attorneys across California are taking advantage of red flag laws to remove firearms from those deemed dangerous to themselves or others. On Thursday, a San Francisco judge granted a so-called gun violence restraining order against the man accused of firing blanks inside a Richmond District synagogue last month. VIDEO: Man fires apparent blanks inside SF synagogue; suspect sought by SFPD, FBI Regardless of how the criminal case against suspected San Francisco synagogue shooter Dmitri Mishin goes, he will not get any of his firearms back for at least two years. This comes after a San Francisco judge granted a gun violence restraining order Thursday morning."We're glad we got the two years, although we're disappointed that we didn't receive the full five years that we requested from the court," said San Francisco City Attorney David Chiu. "We will most likely need to go back i...

St. John’s edges Purdue on last-second shot in First Four

Published Fri, 15 Nov 2024 03:07:22 GMT

COLUMBUS, Ohio (AP) — Jayla Everett made a go-ahead shot with 0.3 seconds left and St. John’s edged Purdue 66-64 on Thursday night in a First Four game.St. John’s (23-8), a No. 11 seed making its 11th appearance in the NCAA Tournament, advances to play sixth-seeded North Carolina in the first round on Saturday.Everett curled off a screen and sank a jumper from the free-throw line with 1:30 left for a 64-62 lead. But the Red Storm turned it over on their next possession and Lasha Petree made a shot in the lane to tie it at 64-all with 30.3 left.After a timeout, Mimi Reid dribbled down the clock before starting the offense with about 10 seconds left. Everett drove the right side of the lane and had the ball knocked loose before corralling it and sinking a shot from a difficult angle.Petree had 20 points and eight rebounds for Purdue (19-11), which was making its first appearance in the NCAA Tournament since 2017. Caitlyn Harper scored 14 points.TENNESSEE TECH 79, MONMOUTH 69BLOOMINGTO...