News in Review: Wednesday, March 15, 2023
What does the news landscape look like?
Silicon Valley Bank is once again the top story, followed by the 2024 GOP presidential race. Interest in the Oscars is fading.
This is how the top stories were covered on each side of the media yesterday:
Silicon Valley Bank (7% more on the right)
Trump / DeSantis / 2024 (104% more on the left)
Oscars (24% more on the left)
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:
What is happening in the top stories?
Now for a deep dive into our top three stories, starting with…
Silicon Valley Bank
Key players: Silicon Valley Bank, Federal Deposit Insurance Corporation (FDIC), Federal Reserve, California Department of Financial Protection and Innovation, Treasury Secretary Janet Yellen
Sen. Jon Tester called on the FDIC to claw back reported bonuses given out to Silicon Valley Bank’s leadership just before the bank’s collapse.
Bruised U.S. bank stocks regained some ground as regulatory scrutiny of Silicon Valley Bank’s demise intensified, with the U.S. Justice Department opening a probe and the Securities and Exchange Commission launching a parallel investigation.
The Federal Reserve is considering tougher rules and oversight for midsize banks similar in size to Silicon Valley Bank, which could lead to more stringent capital and liquidity requirements and potentially beefed up annual “stress tests.”
The collapse of Silicon Valley Bank has prompted emergency U.S. measures giving banks access to more funding, and ratings agency Moody’s cut its outlook on the U.S. banking system to negative from stable citing a “rapid deterioration in the operating environment.”
Trump / DeSantis / 2024
Key people: Donald Trump, Ron DeSantis, Joe Biden, Mike Pence, Nikki Haley
Trump intensified his attacks on DeSantis, accusing him of wanting to “decimate” Social Security and comparing him to Mitt Romney.
Trump criticized DeSantis for his remarks about U.S. support for Ukraine, saying that the governor is just following in his footsteps.
Trump’s trip to Iowa comes just days after DeSantis held two events in the state, purportedly as publicity stops on a book tour.
The chances of Trump being indicted have risen, with the former president invited to testify to a grand jury in Manhattan regarding “hush money” payments.
Key people: Ke Huy Quan, Michelle Yeoh, Daniel Kwan, Daniel Scheinert, Bong Joon Ho
The film “Everything Everywhere All at Once” won seven Oscars, including Best Picture, Best Supporting Actor for Ke Huy Quan, and Best Actress for Michelle Yeoh.
The film’s wins were seen as a watershed moment for Asian representation in Hollywood.
Director Daniel Kwan assured his young son during his acceptance speech that winning seven Oscars for “Everything Everywhere All at Once” was “not normal” and “kind of crazy.”
The film’s wins continue a trend of non-traditional Oscar winners, following “Parasite” and “CODA.”
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