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Silicon Valley Bank Used Former McCarthy Staffers to Weaken Regulations, Lobby FDIC

Published Wed, 25 Dec 2024 16:23:01 GMT

After successfully lobbying, for the rollback of new rules applied to Wall Street in the wake of the financial crisis, lobbyists for Silicon Valley Bank immediately began pressing their case further to  the federal authority that insures bank deposits in the event of another crisis, according to lobbying disclosures reviewed by The Intercept. The lobbying effort managed to exempted banks the size of SVB from more stringent regulations, including stress tests aimed at uncovering the type of weaknesses that led to the bank’s implosion last week. Two of the bank’s top lobbyists previously served as senior staffers for House Speaker Kevin McCarthy, who himself pushed for the repeal of significant pieces of the landmark Wall Street reform legislation known as Dodd-Frank.The meltdown of Silicon Valley Bank on Friday represents the second largest bank collapse in American history and the first since the 2008 financial crisis. Over 90 percent of SVB’s deposits exceed the amount federally gu...

U.Md. renews annual celebration of Native American culture

Published Wed, 25 Dec 2024 16:23:01 GMT

The University of Maryland brought back its annual powwow — or ritual gathering of Indigenous people — Saturday for the first time since 2019 due to the COVID-19 pandemic.The event, which was hosted by the Native American and Indigenous Student Union, featured Native American students celebrating their heritage and visiting tables of arts and crafts. There was drumming, dancing, renewing of friendships and restoring of spiritual connections.“It’s a great place to meet people and to see some old friends,” said student Jeremy Harley of Waldorf, Maryland, of the Piscataway Conoy tribe. “It’s a good excuse to just see everyone again.”More Local NewsMore Maryland NewsThe powwow caught the attention of university President Darryll J. Pines.“It’s all about celebrating our diverse community and how everyone brings value added to the University of Maryland,” Pines said.Rick Kelly of Virginia’s Nottoway Indian tribe, who attended the...

Bruins beat Red Wings 3-2, set record for fastest to 50 wins

Published Wed, 25 Dec 2024 16:23:01 GMT

BOSTON (AP) — Garnet Hathaway broke a third-period tie to lead Boston to a 3-2 victory over the Detroit Red Wings on Saturday, giving the Bruins their 50th win of the season and making them the fastest team to reach the milestone in NHL history.The Bruins needed only 64 games to reach 50 wins, beating the record of 66 set by the 1995-96 Red Wings and matched by the 2018-19 Lightning. The Bruins could become the first team this season to clinch a playoff berth, depending on other games later Saturday.Hampus Lindholm and Patrice Bergeron scored 88 seconds apart to help Boston rally from a two-goal deficit, and Linus Ullmark stopped 30 shots. The Bruins have won 11 of their last 12.Magnus Hellberg made 35 saves for Detroit, which has lost seven of eight. Andrew Copp scored a short-handed goal in the second minute of the first period, and Alex Chiasson also scored.RANGERS 2, SABRES 1, OTBUFFALO, N.Y. (AP) — Artemi Panarin converted a blocked shot to score a power-play goal 2:02 into ove...

Swiatek dominates at BNP Paribas Open; Murray advances

Published Wed, 25 Dec 2024 16:23:01 GMT

INDIAN WELLS, Calif. (AP) — Top-ranked Iga Swiatek routed Claire Liu in 65 minutes to win her opening match at the BNP Paribas Open on Saturday.Swiatek, the defending champion who took over the No. 1 ranking nearly a year ago, won 6-0, 6-1.Taylor Fritz, the defending men’s champion, rallied past Ben Shelton, 4-6, 6-4, 6-3.Jannik Sinner defeated Richard Gasquet, 6-3, 7-6 (2). The 21-year-old Sinner fired 20 forehand winners against the 36-year-old veteran.“Obviously it was a tough match today, especially in the beginning I was a little bit tight,” Sinner said on court.Another 21-year-old, Jack Draper, beat No. 24 Dan Evans, 6-4, 6-2. Draper has lost just eight games through his first two matches of his Indian Wells debut.Andy Murray beat Radu Albot, 6-4, 6-3 in his first straight-set victory of the year to set up a third-round match with Draper. Murray had just 18 unforced errors to 35 for Albot, and never faced a break point on his serve.“I felt very nervous today. I’m not sur...

No. 25 Middle Tennessee tops Western Kentucky for CUSA title

Published Wed, 25 Dec 2024 16:23:01 GMT

FRISCO, Texas (AP) — Jalynn Gregory made 5 of 5 3-pointers and scored 24 points to lead No. 25 Middle Tennessee’s 82-70 victory over Western Kentucky on Saturday night to win the Conference USA Tournament championship.The Blue Raiders (28-4) will be making their 20th NCAA Tournament appearance.Alexi Whittington scored 16 points and Savannah Wheeler added 11 points with five assists for Middle Tennessee. The Blue Raiders only played seven players and both reserves — Kseniya Malashka and Courtney Blakely — reached double figures. Malashka had 14 points and Blakely 10.The Blue Raiders hit 4 of 5 3-pointers in a 4 1/2-minute stretch of the second quarter to break from a 15-all tie and build a 33-24 lead while scoring 20 points in the first six minutes of the quarter. Middle Tennessee scored 32 points in the quarter and led 47-31 at halftime.Three free throws from Gregory put the Blue Raiders up by 22 late in the third and they led 63-46 at the end of the quarter. They led by 21 mi...

Texas Southern holds off Grambling to clinch automatic berth

Published Wed, 25 Dec 2024 16:23:01 GMT

BIRMINGHAM, Ala. (AP) — PJ Henry scored 19 points and Texas Southern denied Grambling its first NCAA Tournament berth with a 61-58 win on Saturday in the Southwestern Athletic Conference Tournament championship game.John Walker III scored 14 points and Davon Barnes 13 for Texas Southern (14-20) which clinched its third straight SWAC postseason conference tournament and became the first SWAC eighth seed to win the tournament.Reserve Zahad Munford scored 12 points for Grambling (24-9), Jonathan Aku scored 11 points and grabbed 10 rebounds and Tramichael Morton scored 10.Henry started 1-for-13 shooting before going on a 4-for-4 stretch — which included three 3-pointers — to help put an end to Grambling’s rally. His 3 with 6:08 left broke a 43-all tie and Texas Southern led for the remainder. Grambling needed a 14-3 run to forge the tie.Grambling played catchup all day and didn’t score a field goal until a little more than 6 1/2 minutes in when Cameron Christon reduced the d...

Fields, Norfolk St. women overcome Howard’s Howell, win MEAC

Published Wed, 25 Dec 2024 16:23:01 GMT

NORFOLK, Va. (AP) — Norfolk State’s Niya Fields scored all 11 of her points in the second half including seven at the line in the final 20 seconds to counter Howard’s comeback attempt and give the Spartans a 56-52 win on Saturday for their first Mid-Eastern Athletic Conference Tournament title in 21 years.Norfolk State, leading the nation in scoring defense, field-goal percentage defense and ranking third in 3-point defense, survived a 30-point performance from conference player of the year Destiny Howell, who made eight 3-pointers. After she made six 3s and scored 21 points in the first half for a one-point lead, Howell was held scoreless in the third only to almost bring the Bison back with a nine-point fourth quarter. Howell finished 9-of-21 shooting and was 8 of 15 from the arc. Aziah Hudson added 10 points for the third-seeded Bison (16-14), who beat the Spartans for the tournament championship last season.Makoye Diawara also scored 11 points for the top-seeded Spar...

Search underway for man reported missing from Deerfield Beach

Published Wed, 25 Dec 2024 16:23:01 GMT

Authorities seek the public’s help in their search for a man who went missing in Deerfield Beach.Accoridng to the Broward Sheriff’s Office, 26-year-old Anthony Salmon was last seen along the 1400 block of Southwest Ninth Avenue, at around 7:30 a.m., Saturday.Salmon stands about 5 feet 11 inches tall and weighs around 150 pounds. Detectives did not specify what he was last seen wearing.Officials urge anyone with information on his whereabouts to contact BSO at 954-321-4268.

North Miami Beach announces street closure ahead of Bike305 event

Published Wed, 25 Dec 2024 16:23:01 GMT

Drivers expected to head to North Miami Beach on Sunday will encounter a major street closure.In a tweet posted Saturday night, North Miami Beach Police said Northeast 19th Avenue will be blocked off between 168th and 171st streets between 8 a.m. and 5 p.m.The closure is due to a Bike305 event taking place on Sunday.Officials urge motorists to avoid the area and seek alternate routes.

Nasty nor’easter to bring high winds, snow next week

Published Wed, 25 Dec 2024 16:23:01 GMT

(WHDH — A nasty nor’easter expected to bring heavy, wet snow to communities at higher elevations in Massachusetts is slated to move into New England late Monday night and into Tuesday. After some snow showers and drizzle move through the area Saturday and taper off, Sunday is set to be the pick of the weekend before the nor’easter takes aim at New England.The storm is set to bring heavy wet snow to cities and towns at higher elevations and mostly rain along the coast.We’re also tracking the potential for damaging winds and minor coastal flooding as the storm moves through. Stay with 7NEWS on-air and online for the latest weather updates.