I'm Daily Wire Editor-in-Chief John Bickley with Georgia Howell.

It's Friday, March 10th, and this is your morning wire, after an update.

Silicon Valley Bank has failed after a classic run on the bank.

SVB, the small California bank which mostly loans money to high-risk tech companies, experienced

a capital crisis this week which was caused by high interest rates.

In an effort to control inflation, the Fed has been raising the funds rate which in turn

made many bank assets lose their value.

As of Friday, the Federal Deposit Insurance Corporation had taken over the bank and assured

customers that they would have full access to their insured deposits.

Norfolk Southern CEO Alan Shaw testified before the Senate Committee on Environmental and

Public Works on Thursday and apologized for his company's role in the toxic, trained

derailment in East Palestine, Ohio.

I want to begin today by expressing how deeply sorry I am for the impact this derailment

has had on the residents of East Palestine and the surrounding communities.

I am determined to make this right.

Senators from both sides of the aisle excreated Shaw for the disaster.

Well, as a apology, but I want to hear other commitments what he's going to do, reimbursing

people for hotels and water testing, committing to paying people's health care if two and three

years out they develop bronchial diseases or cancers.

The Biden classified documents saga continues as a new letter reveals that the National Archives

told Congress it had obtained nine boxes of materials from the Boston office of a personal

attorney to President Joe Biden.

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