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The 7

Friday, March 17, 2023

The 7

The Washington Post

Daily News, News

4.51.3K Ratings

🗓️ 17 March 2023

⏱️ 7 minutes

🧾️ Download transcript

Summary

Friday briefing: First Republic Bank rescue; protests in France; Irvo Otieno; spring allergies; Venus volcano; and more


Read today's briefing.

Transcript

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0:00.0

The nation's biggest banks got together yesterday for an intervention.

0:06.6

And if your spring allergies feel especially bad this year, we may have found the culprit.

0:11.4

I'm Jeff Pierre, and this is the seven from the

0:14.0

Washington Post. It's Friday, March 17th. It might be a lucky day for your

0:18.4

bracket. It's St. Patrick's Day. Now let's get you caught up with today's

0:21.7

seven stories.

0:25.0

First up, the nation's biggest banks staged an emergency intervention yesterday.

0:33.0

11 Wall Street Banks pledged to put 30 billion dollars into First Republic Bank.

0:38.0

It had been at risk of becoming the third U.S. Bank to fail in less than a week.

0:42.0

The plan was coordinated in part by

0:44.7

Biden administration officials. The goal was to stabilize First Republic and to

0:49.7

signal to depositors in global markets that the U.S. financial system is secure.

0:54.8

Treasury Secretary Janet Yellen spoke about this yesterday during her testimony before Congress.

0:59.8

I can reassure the members of the committee that our banking system is sound and

1:05.0

that Americans can feel confident that their deposits will be there when they need

1:10.0

them. This week's actions demonstrate our resolute commitment to ensure that our

1:16.6

financial system remains strong and that depositors' savings remained safe.

1:23.2

Financial experts said the intervention represented one of the most sweeping moves

1:27.3

in the modern history of U.S. banking. Number two, Poland said yesterday that it will give some fighter jets to Ukraine.

1:44.4

Ukraine has been asking for this for a long time to strengthen its defense against Russia.

1:49.5

It would be the first time any of the country's NATO allies have agreed to do this.

1:54.4

Poland's plan is to give Ukraine four jets.

...

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