News in Review: Tuesday, March 14, 2023

Mar 14

What does the news landscape look like?

Silicon Valley Bank was the top story on Monday, followed by the Oscars.

This is how the top stories were covered on each side of the media yesterday:

Media bias ratings are from AllSides.

This is how articles from liberal and conservative outlets were distributed over the past five days among the top stories.

Liberal outlets used these words more than conservative outlets:

Conservative outlets used these words more than liberal outlets:

Now for a deep dive into our top three stories, starting with…

Key players: Federal Deposit Insurance Corporation (FDIC), Silicon Valley Bank (SVB), Federal Reserve, First Republic Bank, Signature Bank

Background:

The federal government took over Silicon Valley Bank (SVB) and announced it would insure 100 percent of deposits in a bank that caters to venture capitalists and high-tech startups.
SVB failed after depositors hurried to withdraw money this week as anxiety over the bank’s balance sheet spread.
The collapse of SVB was the biggest bank failure since the 2008 financial crisis.

Latest developments:

Attention has turned to San Francisco-based First Republic Bank after its shares fell starkly Monday in the wake of Silicon Valley Bank’s shutdown.
Shares in First Republic fell by more than 60 percent, putting it among a number of regional banks who saw their shares drop amid concerns sparked by the abrupt failure of Santa Clara-based Silicon Valley Bank and New York-based Signature Bank.
The Federal Reserve should back away from another interest rate increase in light of the collapse of Silicon Valley Bank (SVB), according to DoubleLine Capital CEO Jeffrey Gundlach.
The White House expressed confidence in regulators when asked about the failure of SVB Financial Group, saying the U.S. banking system was fundamentally stronger than it was during the 2008 financial crisis.

Key people: Ke Huy Quan, Michelle Yeoh, Jamie Lee Curtis, Ruth E. Carter, Yulia Navalnaya

Background:

The 2023 Oscars took place, with “Everything Everywhere All at Once” winning big and Lady Gaga and Rihanna performing.
Last year’s best actor winner, Will Smith, is banned from all Academy events for the next decade after slapping presenter Chris Rock.

Latest developments:

“Everything Everywhere All at Once” won seven Oscars, including Best Picture, making it a critical success and crowd-pleaser.
Ke Huy Quan and Michelle Yeoh’s wins at the Oscars had a significant impact on Asian Americans, with many feeling like Hollywood is moving past seeing them only in stereotypical roles.
Family stories and big-budget blockbusters were prevalent in 2022 cinema and winners at the Oscars.

Key people: Donald Trump, Ron DeSantis, Alvin Bragg, Michael Cohen, Mike Pence

Background:

Donald Trump is reportedly on the brink of facing charges related to a hush money payment during the 2016 campaign, which could impact his 2024 presidential campaign.
Ron DeSantis visited Iowa to meet with local legislators and promote his book, The Courage to Be Free, as part of his testing the waters for a presidential bid.

Latest developments:

Trump has officially declined to offer testimony in Manhattan District Attorney Alvin Bragg’s probe into the hush-money payment to adult performer Stormy Daniels made before the 2016 election.
Trump lashed out at Ron DeSantis during his 2024 debut speech in Iowa, accusing the Florida governor of wanting to cut Social Security and Medicare and comparing him to Sen. Mitt Romney.
Trump claimed former Vice President Mike Pence was responsible for the violence on Jan. 6, 2021, two days after Pence took aim at his old boss for his conduct around the riots at the Capitol that day.