Silicon Valley Bank chief pressed Congress to weaken risk regulations

CEO Greg Becker personally led the bank’s half-million-dollar push to reduce scrutiny of his institution – and lawmakers obliged

This story was first published in the Lever

Eight years before the second-largest bank failure in American history occurred this week, the bank’s president personally pressed Congress to reduce scrutiny of his financial institution, citing the “low risk profile of our activities and business model”, according to federal records reviewed by the Lever.

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How a trip to Mexico for cosmetic surgery turned deadly for US quartet

Deaths of two of four Americans kidnapped in Matamoros place spotlight on cartels’ impunity – and on medical tourism

Latavia “Tay” Washington McGee had scheduled an abdominal operation that many mothers have, and she chose to have the operation done in Mexico, where medical costs are cheaper – and where she had previously gone for other cosmetic procedures.

A cousin and a couple of friends joined her to share the 1,400-mile drive from her home town of Lake City, South Carolina, to Matamoros, Tamaulipas, just south of the US-Mexico frontier.

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Podcaster and husband allegedly killed by stalker in Washington state

Zohreh Sadeghi, 33, and Mohammed Naseri, 35, found dead along with Texas trucker Ramin Khodakaramrezaei who died by suicide

A Texas truck driver allegedly broke into the home of a woman who hosted a podcast to which he listened and killed her as well as her husband before dying by suicide in what authorities are describing as a stalking case.

Authorities identified the victims as 33-year-old podcaster Zohreh Sadeghi and her husband Mohammed Naseri, 35, according to the Daily Beast. The suspect, meanwhile, is Ramin Khodakaramrezaei, a 38-year-old trucker.

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‘Poster child for nimbyism’: California sues city over lack of affordable housing

State officials launch lawsuit against wealthy city of Huntington Beach to force it to build new homes

California officials are suing Huntington Beach, a wealthy coastal city lambasted by the state’s governor as the “poster child for nimbyism”, in an attempt to force it to build more affordable housing.

Defiant Huntington Beach officials have filed their own lawsuit in response, pledging to fight any attempt by the state to “urbanize” their affluent, majority-white community.

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Ron DeSantis visits Iowa as Republican 2024 race heats up – as it happened

Joe Biden continues his attacks on the GOP’s far right wing. Following his remarks earlier on this month’s strong jobs figures, he’s taken to Twitter.

“Extreme Maga [Make America Great Again] House Republicans are showing us what they value: tax breaks for the rich. They demand the biggest Medicare benefits cut in decades, ship jobs overseas, defund law enforcement, devastate our national and border security. It’s a gut punch to the middle class,” the US president tweeted earlier this afternoon.

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California drenched as new atmospheric river brings thunderstorms and winds

Several flood advisories issued as Governor Gavin Newsom declares states of emergency in 21 counties

There is no end in sight for California’s brutally wet winter as yet another atmospheric river storm collided with the state on Friday, bringing torrential downpours, thunderstorms and wind. The National Weather Service issued a slew of flash flood warnings and watches for already inundated areas from the San Francisco Bay, to the central coast and the Sacramento and San Joaquin valleys, with more stormy weather expected through the weekend.

Snow-covered mountain towns in the Sierra Nevada foothills braced for another round of heavy precipitation. So much snow has fallen across the ranges that residents are still struggling to dig out days after earlier storms; now, warmer rains are threatening more damage to towns and buildings by adding more weight to snow-heavy roofs that could cause them to crumple.

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Ron DeSantis visits Iowa as presidential bid speculation intensifies

Rightwing governor of Florida – and most likely rival to Trump for the 2024 nomination – promotes his book in the early voting state

The Republican Ron DeSantis greeted fans in Iowa on Friday, marking the Florida governor’s first visit this election cycle to the early voting state and intensifying speculation over when he might announce his 2024 presidential bid.

DeSantis delivered remarks to a full crowd at a casino in Davenport on Friday morning, and later appeared in Des Moines with the governor of Iowa, Republican Kim Reynolds, to promote his new book, The Courage to be Free.

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Newark unveils Harriet Tubman memorial to replace Columbus statue

Queen Latifah and Pia Wilson take part in celebration of abolitionist in New Jersey city

Newark’s Mayor Ras Baraka, community leaders and celebrities including the musician and actor Queen Latifah and writer Pia Wilson led celebrations of a new monument to the abolitionist Harriet Tubman this week. The ceremony was a historic final step in replacing a Christopher Columbus statute that was removed from a square in the New Jersey city following the murder of George Floyd in 2020.

Gone is an ode to Columbus, who engaged in the kidnapping, enslavement and killing of Indigenous people in the Caribbean. Instead is now a depiction of Tubman, a legendary racial justice activist. Known as the “Moses of her people”, Tubman, who escaped slavery herself, helped other enslaved people gain their freedom amid great danger, acting as what was known as a conductor of the Underground Railroad during the civil war.

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Silicon Valley Bank fails in largest bank collapse since 2008 crisis

US regulators seize SVB’s assets after a run on the bank, as global institutions monitor situation closely

US regulators rushed to seize the assets of top tech lender Silicon Valley Bank on Friday after a run on the bank, marking the largest failure of such an institution since the height of the financial crisis more than a decade ago.

Silicon Valley Bank (SVB), the nation’s 16th largest bank, failed after depositors – mostly technology workers and venture capital-backed companies – hurried to withdraw their money this week as anxiety over the bank’s situation spread.

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Donald Trump Access Hollywood tape can be used in civil rape trial, judge rules

E Jean Carroll can use tape of former president boasting of touching women’s genitals without consent in New York trial

The tape of Donald Trump boasting about sexual aggression towards women that detonated late in the 2016 election campaign but did not prevent him from winning the presidency will be permitted at a forthcoming civil trial in New York.

A federal judge ruled on Friday that the columnist E Jean Carroll can use the 2005 remarks by Trump, caught on tape in conversation with an Access Hollywood TV show personality, in support of her lawsuit accusing Trump of raping her in a department store dressing room in the 1990s.

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Canada: inquiry into police unit accused of excessive force against green activists

Officers with C-IRG accused of ripping off protesters’ masks and pepper-spraying them during protest in British Columbia

Canada’s federal police force has opened an investigation into a controversial unit tasked with overseeing environmental protests, following hundreds of complaints that officers used excessive force, disregarded court orders and violated protesters’ rights.

The Civilian Review and Complaints Commission, a watchdog arm of the Royal Canadian Mounted Police, said on Thursday it would examine the activities of the community-industry response group, or C-IRG, based in British Columbia.

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Prosecutors seek to question Trump lawyer before grand jury in classified papers case

Investigators are looking at invoking an exception that can bypass attorney-client privilege if legal advice is used for furthering crime

Federal prosecutors involved in the criminal investigation of Donald Trump’s retention of classified documents argued to a US judge on Thursday that one of the former US president’s lawyers should answer more questions before a grand jury over objections of attorney-client privilege.

US prosecutors have been seeking to invoke the so-called crime-fraud exception that allows them to compel testimony about communications between an attorney and a client when they have evidence to suggest legal advice was used in furtherance of a crime.

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Biden budget includes billions for Pacific islands in bid to ‘out-compete’ China

Marshall Islands, Micronesia and Palau stand to benefit as White House warns of Beijing’s intent and ability to ‘reshape the international order’

Alarmed by China’s success in wooing Pacific island nations, the Biden administration is proposing to spend billions from its federal budget to keep three of those countries in the US orbit.

President Joe Biden’s spending plan, released on Thursday, includes more than $7.1bn in funding for the Marshall Islands, Micronesia and Palau. The money is included in the $63.1bn request for the state department and the US Agency for International Development.

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California declares state of emergency as subtropical storm moves over state

Governor has 21 counties under emergency orders while 16m people in the state are under flood watch warnings

An impending atmospheric river and rapidly melting snow has put communities across California on high alert for flash flooding, mudslides and rockslides as the subtropical storm surge moves over the state. Rivers and streams could also quickly rise beyond capacity and breach, the National Weather Service warned. Overall, some 16 million people are under flood watch warnings.

The state’s governor, Gavin Newsom, has declared a state of emergency for 21 counties, including some mountain communities still digging themselves out from the snow. “The state is working around the clock with local partners to deploy life-saving equipment and first responders to communities across California,” Newsom said on Wednesday evening. “With more dangerous storms on the horizon, we’ll continue to mobilise every available resource to protect Californians.”

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Norfolk Southern’s call to burn derailed train cars ‘jaw-dropping’, Senate hears

Local official tells panel of chaotic response Ohio derailment and operator’s chief executive makes first appearance before Congress

Norfolk Southern’s decision to call for the burning of five derailed train cars in East Palestine, Ohio, was “jaw-dropping” and a consequence of poor communication by the railroad, a local emergency management official told a Senate panel on Thursday.

Eric Brewer, director and chief of hazardous materials response for the emergency services department in Beaver county, Pennsylvania, just over the state line from East Palestine, described to the chamber’s environment and public works committee an initially chaotic response to the 3 February derailment.

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Alleged perpetrators of attack on four Americans dumped on Mexican street

Five men found bound with note apparently from drug cartel alluding to ‘mistakes caused by lack of discipline’

Five men who purportedly carried out the attack on four Americans last week have been found dumped on a street in the city of Matamoros, with an apology note claiming to be from the fearsome cartel that controls much of Tamaulipas state.

The five men were discovered with their hands tied, shirts pulled over their heads and bare chests to the pavement. Nearby, a note in black marker read: “We’ve decided to hand over those involved and directly responsible in the events who acted at all times under their own free will.”

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Ex-Goldman banker given 10 years in prison for role in 1MDB fraud scandal

Roger Ng, 50, found guilty by Brooklyn jury in massive embezzlement linked to Malaysian state investment fund

Roger Ng, the former Goldman Sachs banker at the center of the multibillion 1MDB embezzlement scandal, was sentenced to 10 years in prison on Thursday, placing a capstone on one of the largest and most bizarre financial frauds of the past decade.

A jury in Brooklyn, New York, found Ng, 50, from Malaysia, guilty of violating US anti-bribery laws, money laundering and illegally skirting Goldman’s accounting controls, after a seven-week trial.

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Mitch McConnell in hospital with concussion after fall in Washington DC

Republican Senate leader ‘tripped at a hotel during a private dinner’ and is receiving treatment, according to a spokesperson

The Senate Republican leader, Mitch McConnell, was taken to hospital in Washington DC on Wednesday night after he tripped and fell at a hotel, a spokesperson said.

David Popp said McConnell, 81, fell “during a private dinner”.

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Biden vows to protect social security and Medicare in speech outlining budget plan – as it happened

Norfolk Southern CEO Alan Shaw said, “We are committed to the legislative intent to make rail safer,” without specifically indicating whether he would commit to supporting the bipartisan Railway Safety Act.

“We can always get better and that is my intent to continue to invest and continue to improve” in industry safety standards, he added.

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Fox News produced ‘zero’ evidence to back election lie, defamation case hears

Dominion Voter Systems asks judge to rule in its favour without a full trial as cable news network frames case as free speech issue

Dominion Voter Systems and Fox News have exchanged further barbs in the $1.6bn defamation case brought by the voting machine company against the rightwing US cable news network over its broadcast of Donald Trump’s lie that his 2020 defeat by Joe Biden was the result of electoral fraud.

In a court filing, Dominion asked a judge to decide the case in its favour because, it said, Fox News had “produced no evidence – none, zero – supporting those lies.

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