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Wednesday Afternoon Update: Controversial Democrat Confirmed with Assistance from GOP, Newsom Saved, Newark Victims of Fraudsters

Wednesday Afternoon Update: Controversial Democrat Confirmed with Assistance from GOP, Newsom Saved, Newark Victims of Fraudsters

This article is based on the Morning Wire Afternoon Update. To hear the podcast version, click here.

The Democrat Eric Garcetti, who has been facing challenges, has been officially confirmed.

The U.S. Senate gave their approval to President Biden's selection of Eric Garcetti, formerly the mayor of Los Angeles, to be the U.S. Ambassador to India. The vote was 52-42, with seven Republicans siding with the Democrats to push him through. Mr. Garcetti had been accused of not taking appropriate action when it came to sexual harassment allegations in his LA office. Naomi Seligman, a former top assistant, discussed with Jake Tapper of CNN why Garcetti should not be given the placement.

Seligman expressed disappointment that the White House has been pushing Democrats to back Eric Garcetti due to his loyalty to President Biden, noting that those who claim to stand behind #MeToo must do so even if it means standing against members of their own party.

Naomi Seligman informed Jake Tapper that Eric Garcetti, the nominee for U.S. Ambassador to India, disregarded allegations of sexual misconduct during his tenure as Los Angeles mayor.

— The Lead CNN (@TheLeadCNN) March 13th, 2023

Recent Developments in Banking

Moody's Investors Service, one of the three most important rating agencies, changed their assessment of the entire banking system from stable to negative in response to the SVB banking crisis. Cabot Phillips, Senior Editor of Daily Wire, joined the Morning Wire Afternoon Update to explain the latest developments.

Moody's announced that it would reduce the ratings of several midsize banks, including Comerica, First Republic, UMB, and Western Alliance, after already having lowered Signature Bank's rating. Despite the Federal Reserve's attempts to guard the banks and the Treasury Department's assurance that customers' deposits would remain safe, Moody's proclaimed, “We have adjusted our outlook on the US banking system to negative from stable, due to the rapid decline of the business environment resulting from deposit withdrawals from Silicon Valley Bank, Silvergate Bank, and Signature Bank, in addition to the bankruptcies of Silicon Valley Bank and Signature Bank.”

Newsom was released on bail.

California Governor Gavin Newsom, a Democrat, expressed his approval of the federal government's decision to provide assistance to the depositors of Silicon Valley Bank, though he neglected to mention that he is one of them. Tim Pearce from The Daily Wire spoke with Afternoon Update, saying:

The government’s unexpected action of protecting all deposits was a surprise since the FDIC usually secures a maximum of $250,000 per account. It appears that Governor Newsom's own wineries may gain from the FDIC's move because his three wineries that banked with SVB were in danger of not recouping money on deposits that exceeded the $250,000 limit.

The governor's spouse is also connected to the bank.

In 2021, Jennifer Siebel's California Partners Project charity was granted a $100,000 donation from SVB, with SVB Capital's President serving on the charity's board. When asked about his links to SVB, Newsom's team pointed out that since 2018, the governor's assets have been handled by a blind trust.

Indian fraudsters conned Newark

Mayor Ras Baraka of Newark, New Jersey, discovered this month that he had been tricked into a sister city agreement with an invented Hindu realm. Individuals from the invented "Kailasa" were welcomed at the city hall for a "cultural trade arrangement," however Mayor Baraka was unaware that it was a trick planned by a well-known Indian swindler named Swami Nithyananda. Nithyananda has been on the run since 2019 due to accusations of rape.

The City of Newark, New Jersey has confessed that it was duped into forming a "sister cities" relationship with an invented country. @CBSNewYork

— Ali Bauman (@AliBaumanTV) on March 9, 2023

Criminal Activity in Chicago

Chicago has attained the infamous distinction of being the U.S. metropolis with the fastest-expanding rate of auto thefts. A recent investigation by the National Insurance Crime Bureau revealed that car thieving augmented by 55% in 2022 compared to the year prior. The states that experienced the greatest surge in auto theft were Illinois, Washington, and New York.

For an audio version of this podcast, click here. To get a comprehensive breakdown of the biggest news stories, tune in to the latest complete episode of Morning Wire each morning.

To hear the audio rendition of this podcast, click the link. Furthermore, for an extensive discussion of the most significant events of the day, tune in to the newest complete episode of Morning Wire every morning.