Senator Dick Durbin COVID positive: https://thehill.com/homenews/senate/3907774-durbin-has-covid-experiencing-minor-symptoms/ . When the Democrats have 51 votes, this obviously creates delays for the near future.
Anti-nausea drug linked to colon cancer: https://www.upi.com/Health_News/2023/03/14/anti-nausea-drug-pregnancy-colon-cancer/2211678800305/ .
UBS acquires Credit Suisse for $3.2 billion: https://www.cnbc.com/2023/03/19/ubs-agrees-to-buy-credit-suisse-as-regulators-look-to-shore-up-global-banking-system.html . Note that the Swiss government has extended a $108 billion loan and also agreed to assume asset losses above a preset amount in order to limit the financial risk to UBS. More: https://finance.yahoo.com/news/after-ubs-buys-credit-suisse-heres-where-investors-may-focus-next-225116564.html . This article makes important points about the structure of this deal. First, certain preferred debtholders are wiped out while shareholders are not as they receive some UBS shares, a very unusual arrangement for which we do not yet know the reason. Second, UBS shareholders were not asked to approve the deal. More on the zeroed bonds: https://www.msn.com/en-us/money/markets/credit-suisse-writes-down-17-billion-of-bonds-to-zero-angering-holders/ar-AA18PlSJ?ocid=hpmsn&cvid=d024742f31c443a7850a47a09c1166e8&ei=55 .
More: https://www.msn.com/en-us/money/markets/the-one-big-winner-and-many-losers-of-ubs-s-credit-suisse-rescue/ar-AA18P7Va?ocid=hpmsn&cvid=e6c159adcdf946b59e8243171d23ec8f&ei=98 . Switzerland has found a way to make Middle Eastern oil evaporate … WSJ: More: https://www.wsj.com/articles/ubs-in-talks-to-take-over-credit-suisse-ed932b01 . Still more: https://www.wsj.com/articles/ubs-offers-1-billion-to-take-over-credit-suisse-bfac51fa .
WSJ: Fed raised concerns about Silicon Valley Bank in 2019: https://www.wsj.com/articles/fed-raised-concerns-about-svbs-risk-management-in-2019-4a1d802c . So why weren’t stronger actions taken in 2020? 2021? 2022? …
New York Community Bank to buy Signature Bank, reopen as Flagship Bank: https://apnews.com/article/signature-fdic-failure-new-york-community-bank-3c820646cc6574439fa158095594505e . Not a great name. Ships sink … WSJ: More on Signature’s collapse: https://www.wsj.com/articles/signature-banks-quirky-mix-of-customers-fueled-its-rise-and-hastened-its-fall-8bc10cd2 .
Will Warren Buffett step in to assist regional banks?: https://www.benzinga.com/government/23/03/31410796/keep-calm-warren-buffett-the-big-daddy-of-investments-rumored-to-step-in-to-stem-banking-crisis .
Asian stocks sink Monday (March 20) on Credit Suisse news: https://apnews.com/article/stocks-shares-markets-economy-suisse-ubs-036b8fe51eb1f275f1e743a49115b493 .
Xi to meet with Putin in Moscow on Monday: https://abcnews.go.com/International/chinas-xi-meet-putin-moscow-monday-show-support/story?id=97937966 . Certainly Xi realizes he is distancing China from the West here, but he looks forward to having Russia as a client state. In essence, Russia is to Xi what Ukraine is to Putin. WSJ: More: https://www.wsj.com/articles/putin-proves-an-unpredictable-partner-for-xi-as-nations-cement-ties-184c083f . Still more: https://www.wsj.com/articles/ubs-offers-1-billion-to-take-over-credit-suisse-bfac51fa .
WSJ: Putin visits Mariupol: https://www.wsj.com/articles/putin-visits-mariupol-in-first-known-trip-to-ukrainian-territory-taken-by-russia-during-war-5ef98e45 . But not exactly Paris, is it?
Chris Sununu rips Orange Julius, DeMentis over opposition to Ukraine aid: https://thehill.com/homenews/campaign/3907498-sununu-rips-trump-desantis-on-ukraine-aid/ . So it looks like the more moderate GOP governors are trying to create a non-MAGA lane for a GOP presidential candidate. Larry Hogan stepped aside because he didn’t want “too many challengers” to improve OJ’s odds for the nomination. It appears the moderate candidate will be Sununu, hoping that the split of the MAGA base between OJ and DeMentis can provide him a path to victory. Tim Scott’s “campaign” won’t last long, and the same is likely true of Nikki Haley.
OJ’s call for protests over his pending indictment get muted response from the MAGA base: https://apnews.com/article/trump-indictment-new-york-jan-6-protest-f19306253133d9dacd65667bd5b4650c . The number of people going to prison for their role in the January 6 insurrection should give these “protesters” considerable pause.
NASA’s photo of a real Death Star: https://apnews.com/article/webb-space-telescope-star-2d703565f9521f71dcbf11441d920f67/ . One wonders what Einstein would think of the remarkable images the Webb Telescope provides us.