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Bank failures and rescue test Yellen’s decades of experience

Published Wed, 26 Feb 2025 09:20:00 GMT

WASHINGTON (AP) — Working against the clock to stop a developing banking crisis, Treasury Secretary Janet Yellen had until sunset on Sunday, March 12, to come up with a plan to calm the U.S. economy. She quickly turned to someone who had been through the fire before, and on a much larger scale: Hank Paulson. Paulson, who ran the Treasury Department during the financial crisis in 2008, counseled immediate government action. “It’s really hard to stop or even slow down a bank run. And to do that requires a powerful and quick government response,” Paulson said, recounting what he told Yellen. A bank run on Silicon Valley Bank had begun earlier in the week. Regulators took it over by that Friday afternoon. The move panicked shareholders and depositors, stirring stark reminders of earlier failures that triggered the Great Recession. Perhaps no treasury secretary has come to the office with Yellen’s ample resume, including service as the chair of the Federal Reserve and a lifetime of...

Trump rallying supporters in Waco ahead of possible charges

Published Wed, 26 Feb 2025 09:20:00 GMT

WACO, Texas (AP) — Staring down a possible indictment, a defiant Donald Trump is hoping to put on a show of force Saturday as he holds the first rally of his 2024 presidential campaign in a city made famous by deadly resistance against law enforcement.The former president will gather with supporters at an airport in Waco, which will mark the 30th anniversary of the Waco massacre next month. In 1993, an attempted raid by law enforcement of a compound belonging to the Branch Davidians, a religious cult, resulted in a shootout that led to a 51-day siege, ending in a blaze that left dozens dead.The rally comes as Trump has berated prosecutors, encouraged protests and raised the prospect of possible violence should he become the first former president in U.S. history to face criminal charges. Some of his recent rhetoric has echoed language he used before the Jan. 6, 2021, insurrection at the U.S. Capitol by a mob of his supporters seeking to stop the transfer of power.“What kind of perso...

Bolsonaro’s legal woes deepen with undeclared diamond gifts

Published Wed, 26 Feb 2025 09:20:00 GMT

RIO DE JANEIRO (AP) — Undeclared diamond jewelry brought into Brazil from Saudi Arabia has deepened the legal jeopardy of former Brazilian President Jair Bolsonaro. An investigation into two sets of jewels reportedly worth millions is only the latest scandal threatening the far-right politician. But an extensive paper trail and even videos could make the case particularly daunting for Bolsonaro.WHAT HAPPENED WITH THE DIAMONDS?Federal police and prosecutors are investigating whether Bolsonaro tried to sneak two sets of expensive diamond jewelry into Brazil without paying taxes — and whether he improperly sought to prevent the items from being incorporated into the presidency’s public collection. Authorities are also looking into whether he enlisted public officials to try to bypass customs.The first set of jewels, composed of earrings, a necklace, a ring and a watch by Swiss brand Chopard, arrived in Brazil in October 2021 through Sao Paulo’s international airport with an adviser to ...

Greene’s DC jail visit pulls GOP closer to Jan. 6 rioters

Published Wed, 26 Feb 2025 09:20:00 GMT

WASHINGTON (AP) — Rep. Marjorie Taylor Greene swept into the District of Columbia jail to check on conditions for the Jan. 6 defendants, with Republican lawmakers handshaking and high-fiving the prisoners, who chanted “Let’s Go Brandon!” — a coded vulgarity against President Joe Biden — as the group left.A day earlier Speaker Kevin McCarthy met with the mother of slain rioter Ashli Babbitt, a Navy veteran who was shot and killed by police as she tried to climb through a broken window during the Jan. 6, 2021 attack on the Capitol.And the House Republican leader recently gave Fox News’ Tucker Carlson exclusive access to a trove of Jan. 6 surveillance tapes despite the conservative commentator’s airing of conspiracy theories about the Capitol attack.Taken together, the House Republicans can be seen as working steadily but intently to distort the facts of the deadly riot, which played out for the world to see when Donald Trump’s supporters laid siege to the Capitol, and in t...

Renamed Horseshoe to host Poker World Series on Vegas Strip

Published Wed, 26 Feb 2025 09:20:00 GMT

LAS VEGAS (AP) — A name paired with poker and Las Vegas lore now has a place on the neon-lit Strip following the rebranding of an iconic hotel with a memorable history at a crossroads shared with some of the most recognizable casinos in the world.The Horseshoe Las Vegas Hotel & Casino and its corporate owner, Caesars Entertainment Corp., hosted ceremonies Friday to mark the name change from Bally’s Las Vegas, before it again hosts the upcoming 54th annual World Series of Poker.“Not only are we excited for guests to experience the redesigned resort and its latest offerings, but we are also proud to reintroduce the historic gaming brand to Las Vegas,” Jason Gregorec, Horseshoe senior vice president and general manager, said in a statement.The 2,800-room property once was the MGM Grand Hotel, where a historic fire in 1980 killed 87 people. It was Bally’s Las Vegas for 36 years. Renovations and renaming harken back to Binion’s Horseshoe, a hotel and gambling hall in down...

Tatum: Celtics need Brown to be ‘best version of ourselves’

Published Wed, 26 Feb 2025 09:20:00 GMT

BOSTON (AP) — The Boston Celtics have operated at their best when All-Stars Jayson Tatum and Jaylen Brown are both being playing their best basketball at the same time.Whether that partnership can endure long enough for them to lead the franchise to an 18th NBA title has been the persistent question surrounding the Celtics each of the past two seasons as rumors have swirled about Boston’s willingness to possibly trade Brown for more high-profile stars.It included this past offseason when reports surfaced about possible trade discussions between Boston and Brooklyn after Kevin Durant levied a trade request. Brown has been consistent in saying he has not let any of the rumors be a distraction for him on the court, as evidenced him averaging career highs in points (26.7) and rebounds this season. He had 27 points and seven rebounds in the Celtics’ 120-95 win over the Indiana Pacers on Friday night, helping Boston stay in the hunt to catch Milwaukee for the top seed in the Eastern Confe...

Longhorns are Elite: Texas runs away from Xavier in Sweet 16 with 83-71 win

Published Wed, 26 Feb 2025 09:20:00 GMT

KANSAS CITY, Mo. (KXAN) — Down one of their stars in the postseason, the Texas Longhorns didn't waver and plowed past the Xavier Musketeers 83-71 in the Sweet 16 on Friday at T-Mobile Center.Texas, the No. 2 seed in the Midwest Region, will take on No. 5 seed Miami on Sunday in the Elite Eight for a spot in the Final Four. The Hurricanes upset No. 1 seed Houston 89-75, and all four No. 1 seeds in the tournament were eliminated before the Elite Eight. Texas forward Timmy Allen drives to the basket past Xavier forward Jerome Hunter in the first half of a Sweet 16 college basketball game in the Midwest Regional of the NCAA Tournament Friday, March 24, 2023, in Kansas City, Mo. (AP Photo/Charlie Riedel)Texas head coach Rodney Terry yells in the first half of a Sweet 16 college basketball game against Xavier in the Midwest Regional of the NCAA Tournament Friday, March 24, 2023, in Kansas City, Mo. (AP Photo/Charlie Riedel)Texas forward Timmy Allen shoots over Xavier forward Jerome Hunter...

Dylan Disu, star Texas Longhorns forward, injured early in 1st half of Sweet 16 vs. Xavier, considered day-to-day

Published Wed, 26 Feb 2025 09:20:00 GMT

KANSAS CITY, Mo. (KXAN) — Texas Longhorns forward Dylan Disu was sidelined with a foot injury just two minutes into Friday's 83-71 win against Xavier in the Sweet 16 at T-Mobile Center.Coming into the game, Disu was nursing a bone bruise on his left foot and tried to play through it. While trying to grab a rebound underneath Xavier's basket, teammate Dillon Mitchell accidentally poked Disu in the eye and then he came down awkwardly on his foot. MORE THAN THE SCORE: Stay up to date on sports stories like these, and sign up for our More than the Score sports newsletter at kxan.com/newslettersHe then went to the bench, took off his shoe, and then headed to the locker room with the training staff. He emerged a few minutes later with a walking boot on and went to the bench. He didn't return to the game.Terry said Disu is day-to-day, but also said the training staff had worked with Disu all week to get him ready and he "would make progress, then take a few steps back."Christian Bishop pla...

California eases drought restrictions in the wake of multiple winter storms

Published Wed, 26 Feb 2025 09:20:00 GMT

(KTXL) -- During a visit to Yolo County on Friday, Governor Gavin Newsom announced changes to the state's drought restrictions and water conservation plans after multiple winter storms over several months have soaked the state, but stopped short of lifting the state drought emergency.Newsom said that in spite of the questions about if the drought is over, "it continues to be complicated." Sierra only inches away from 700 inches of total snowfall "It would be nice to have a governor say the drought is over," Newsom said. "Unfortunately, the complication requires nuance."The governor, joined by local and state leaders, including the Secretary of Natural Resources Wade Crowfoot, announced that the state drought emergency proclamation would not be lifted, but modified. Lifted water conservation rulesWith improvements in the state's water reserves, Newsom announced that the statewide request of a 15% voluntary reduction in water use will be lifted. World’s largest civil firefighting...

Redwood City man arrested on suspicion of breaking into homes, groping woman

Published Wed, 26 Feb 2025 09:20:00 GMT

REDWOOD CITY – A 21-year-old Redwood City man has been arrested on suspicion of breaking into homes and in one case groping a female resident, police said.In a statement Friday, the Redwood City Police Department said it has investigated three incidents since January that involved a resident encountering a man she did not know inside her home.The latest case was reported around 2:20 a.m. on March 19, when a resident awoke to find a man she did not know inappropriately touching her, according to police.When confronted by the victim, the suspect barricaded himself inside a bathroom and escaped through an exterior window before officers arrived at the scene, police said.Officers canvassed the surrounding neighborhood and obtained surveillance footage, which helped them identify the suspect and link him to the cases, police said.The man was later arrested at his home and booked into the Maguire Correctional Facility in Redwood City on charges of sexual battery, first-degree burglary and...