School shooter kills 3 children and 3 adult employees, then killed by police: https://www.nbcnews.com/news/us-news/live-blog/nashville-school-shooting-covenant-live-updates-rcna76861 . The children were all age 9, the adults in their 60’s. The shooter, a female who identified as male, was 28 and previously attended this Nashville private church school for grades K through 6. She was heavily armed with 2 assault weapons and a handgun. Among children 1 to 18, guns are now the leading cause of death, overtaking auto accidents.
Crypto’s problems worsen: https://www.cnbc.com/2023/03/27/binance-and-founder-changpeng-zhao-sued-by-cftc-for-allegedly-violating-trading-rules.html . The CFTC complaint against Binance alleges fraud. WSJ: More: https://www.wsj.com/articles/cftc-sues-binance-holdings-in-chicago-federal-court-4280ada3 .
Saudi who led billion dollar investment in Credit Suisse resigns: https://www.wsj.com/articles/saudi-chairman-of-credit-suisses-largest-investor-resigns-d6c7e962 . Oil is about $72 a barrel. So this gentleman flushed 14 million barrels of oil down the toilet, so to speak.
First Citizens buys half of SVB: https://apnews.com/article/svb-banks-fdic-first-citizen-silicon-f6958f1fa87b0991cb525b0424c7a1cd . The sale at a 23% discount is an opportunity for First Citizens if it can hold SVB customers and top staff. In my view, that is a very big “if”. A $20 billion hit to the FDIC insurance fund is substantial, and the government still holds half of SVB’s assets.
WSJ: Feds say SVB “a textbook case of mismanagement”: https://www.wsj.com/articles/fed-official-calls-silicon-valley-bank-failure-a-textbook-case-of-mismanagement-8e578ff1 . Obviously. Some desire to make all analysis complicated. This one is simple: If as a bank you don’t think about interest rate and liquidity risk, you don’t know how to manage the business of banking. Meanwhile, First Citizens grows by grabbing failed banks: https://www.wsj.com/articles/first-citizens-adds-to-its-collection-of-failed-banks-with-svb-purchase-c5ff0941 . This acquisition has a lot of problems, despite what Wall Street thinks. SVB clients were there because of SVB’s supposed expertise in tech companies. First Citizens must project that to those clients, quickly, or lose them. The client losses could well be substantial.
Israel faces massive social unrest over right-wing judicial restructuring plan: https://apnews.com/article/israel-netanyahu-protests-judicial-overhaul-what-is-happening-d65c2ff5d40289ad3699e499304abb18 . More: https://www.nbcnews.com/politics/white-house/white-house-sees-netanyahu-likely-abandoning-judicial-overhaul-pursue-rcna76930 .
WSJ: How will the war in Ukraine end?: https://www.wsj.com/articles/ukraine-allies-see-a-way-war-can-end-but-lack-plan-to-achieve-it-ec1780b6 . Bottom line, Ukraine’s expected spring counteroffensive must play out before either side will even think of negotiating. More on the spring offensive: https://www.wsj.com/articles/strikes-hit-russian-occupied-ukraine-as-kyiv-prepares-new-offensive-6d942f4e . The war will continue to be dominated by artillery. As such, the hunt to resupply ammo remains a top priority.
NYC grand jury hears from David Pecker: https://nypost.com/2023/03/27/ex-national-enquirer-publisher-testifies-to-grand-jury-in-trump-hush-money-case/ . As the grand jury will not be meeting Tuesday, the earliest possible indictment is Wednesday. As Pecker was a rebuttal witness, we must be near or at the end of the witness list. Meanwhile, Raw Story speculates Orange Julius could be brought down by little Pecker: https://www.rawstory.com/david-pecker-is-a-critical-witness-who-could-get-trump-charged-with-a-second-crime-former-prosecutor/ . An appropriate finish for the Stormy Daniels case, don’t you think? WSJ: More: https://www.wsj.com/articles/trump-grand-jury-to-reconvene-amid-mounting-expectations-rhetoric-56b7ad4a .
DeMentis leads OJ in Iowa, tied with OJ in New Hampshire: https://thehill.com/homenews/campaign/3919207-desantis-tops-trump-in-iowa-ties-in-new-hampshire-head-to-head-primary-poll/ .
CNN hemorrhages viewers: https://www.wsj.com/articles/cnn-finalizing-deal-to-add-gayle-king-as-it-hits-lowest-ratings-in-decades-32669426. And their plan for salvation is Gayle King and Charles Barkley? It makes more sense to just turn out the lights. And remember, CNN’s current miserable performance is against Fox Not-the-News, the liars’ network.
Meanwhile, Italians respond to Florida’s school firing over Michelangelo photo: https://apnews.com/article/italy-michelangelo-hillsdale-florida-florence-david-56d2977c3fceefd02f475f9d4d0be3d9. As the Italians correctly say, this is an assault on the body and an ignorance of history. Note that the chairman of the school board stands by his ridiculous white trash views. Also note that this loony bin is a taxpayer-funded charter school.
WSJ: McDonald’s looks into reusable containers under pressure from Europe to cut plastic use: https://www.wsj.com/articles/mcdonalds-to-study-pros-and-cons-of-reusable-packaging-a07db889 .
The Journal salivates over March Madness’ Final Four – men’s and women’s: https://www.wsj.com/articles/miami-san-diego-state-florida-atlantic-uconn-final-four-caitlin-clark-7ab32e10 .