Morning Wire Senate Confirms Garcetti & Newark Gets Duped | Afternoon Update | 3.15.23
Mar 15, 2023
The confirmation of Eric Garcetti as U.S. ambassador to India stirs controversy, raising questions about his leadership amid Me Too allegations. Meanwhile, the banking sector faces a rating downgrade following the SVB crisis, casting shadows over midsize banks. In a bizarre twist, Newark, New Jersey, experiences a blunder after engaging with a fictitious nation. Tune in for a blend of political intrigue and financial fallout!
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Garcetti's Confirmation
- Eric Garcetti faced accusations of mishandling sexual harassment allegations.
- Naomi Seligman, a former aide, testified against him.
Banking System Downgrade
- Moody's downgraded the entire banking system's rating to negative.
- The downgrade followed the SVB, Silvergate, and Signature Bank crises.
Newsom's SVB Ties
- Governor Newsom's wineries, which banked with SVB, might benefit from the bailout.
- His wife's charity also received a donation from SVB.