Silicon Valley Bank’s collapse; ‘Everything Everywhere All At Once’ wins big, California sees more storms

Plus, how Americans spent all their savings and racked up credit card debt

View this email online by Suzanne Nuyen Good morning.  Did yesterday’s time change ruin your day? The Senate wants to make daylight saving permanent and stop the time jumps. It sounds good, but doctors say daylight saving is bad for our health. Here’s what else we’re following today. 🥇 First up Justin Sullivan/Getty Images Silicon Valley Bank customers will be able to access all of their money today, thanks to extraordinary emergency measures taken by the federal government to contain the fallout of the bank’s implosion last week. It’s a huge relief for the many tech startups that relied heavily on the bank and were worried about being “wiped out” entirely. NPR’s Bobby Allyn spoke to Up First podcast this morning about what the government is doing: 💰No taxpayer money will be used to help bank customers. Instead, Treasury officials waived an insurance cap to make sure all deposits would be covered by an insurance fund that banks pay into. 💰So is this a bailout? “Not in the traditional sense,” Allyn says. He says this isn’t like 2008, but the intervention is notable for being a huge lifeline for the tech sector.  💰It doesn’t end here. Biden hinted the administration isn’t done with Silicon Valley Bank, and that those “responsible for this mess” would be held accountable.   All the prizes, everywhere, all at once: there wasn’t a dry eye in the room as Everything Everywhere All At Once made history at the Academy Awards. Already the most awarded film ever, the multiversal romp picked up seven more accolades last night — including two for fan favorites Michelle Yeoh and Ke Huy Quan. 👁️ Screenwriters Daniel Kwan and Daniel Scheinert told NPR’s Mandalit del Barco their film was about “joy, absurdity and chasing your bliss.” 🎧 On the Up First podcast today, del Barco remarked on how the film was part of the many diversity wins at last night’s ceremony.   Former Vice President Mike Pence says Donald Trump was "wrong" about Jan. 6 and history will hold him accountable for it. 🎧 It's Pence's most forceful rebuke of the former president to date from his VP, who said Trump's "reckless words endangered my family and everyone at the Capitol that day." ➡️ Pence's remarks at a white-tie dinner for journalists on Saturday come ahead of Trump's appearance in Iowa today — his first since he announced his presidential bid. 🎧 Iowa Public Radio's Clay masters told Up First this morning that Republicans in the state remain committed to Trump, but support is eroding.   There’s no end in sight for California. At least two people have died over the weekend due to extreme weather, and the state is already bracing for another atmospheric river that will bring more rain, snow and flooding through Wednesday.  🌀 What even is an atmospheric river? The meteorological phenomenon involves converging air systems that funnel wet air into a long, riverine flow that dumps large amounts of rain when it makes landfall. 🎧 Listen to just how much damage it can do on NPR’s Short Wave. Newsletter continues after sponsor message 🥪 Food for thought Fajrul Islam/Getty Images  2020 was a great year for personal finance, but it’s been all downhill from there. U.S. consumers had the highest savings rate on record and credit card debt was plummeting. But since then, many have blown through their savings. So what happened?  💳 The pandemic helped people save. Stimulus checks, lockdowns and pay raises put many in good financial shape. 💳 But then the price of basics like food, gas and clothing went up. People need to spend more just to keep up with last year’s lifestyle. 💳 Many people are leaning on credit cards to pick up extra costs and bills. Credit card debt is rising in the U.S. at one of the fastest rates in history.  📸 Picture show Noel Celis/AFP via Getty Images Saturday marked the third anniversary of the World Health Organization’s announcement that COVID-19 was a pandemic. These quotes and photos take us through the chaotic weeks that led the organization to make the declaration that would change our lives. Before you go Tara Walton/Toronto Star via Getty Images Kisa, the last captive killer whale in Canada, has died. Her life of isolation at Marineland led many to dub her the “loneliest whale in the world.” Sometimes English fails you. These are some listeners’ favorite words that don’t have an English translation, yet carry so much meaning. NASA has discovered an asteroid that has a “very small” chance of colliding with Earth in 23 years. Even if it does hit us, the effects wouldn’t be devastating.  Listen to your local NPR station. Visit NPR.org to hear live radio from WMFE (edit station). Enjoying this newsletter? Forward to a friend! They can sign up here. Looking for more great content? Check out all of our newsletter offerings — including Music, Politics, Health and more! You received this message because you're subscribed to Daily News emails. This email was sent by National Public Radio, Inc., 1111 North Capitol Street NE, Washington, DC 20002 Unsubscribe  |  Privacy Policy