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Krugman: How bad was the Silicon Valley bank bailout? Pretty bad

Published Fri, 07 Feb 2025 11:28:40 GMT

So the feds stepped in to protect all deposits at Silicon Valley Bank, even though the law says that deposits only up to $250,000 are insured and even though there was a pretty good case that allowing big depositors to take a haircut wouldn’t have created a systemic crisis. SVB was pretty sui generis, far more exposed both to interest risk and to potential runs than any other significant bank, so even some losses for larger depositors may not have caused much contagion.Still, I understand the logic: If I were a policymaker, I’d be reluctant to let SVB fail, merely because while it probably wouldn’t have caused a wider crisis, one can’t be completely certain and the risks of erring in doing too much were far smaller than the risks of doing too little.That said, there are good reasons to feel uncomfortable about this bailout. And yes, it was a bailout. The fact that the funds will come from the Federal Deposit Insurance Corp. — which will make up any losses with increased fees on bank...

U.S. says video shows Russian jet dumping fuel on its drone

Published Fri, 07 Feb 2025 11:28:40 GMT

By KARL RITTER and DINO HAZELL Associated PressKYIV, Ukraine (AP) — The Pentagon on Thursday released footage of what it said was a Russian aircraft pouring fuel on a U.S. Air Force surveillance drone and clipping the drone’s propeller in international airspace over the Black Sea.The 42-second video shows a Russian Su-27 approaching the back of the MQ-9 drone and beginning to release fuel as it passes, the Pentagon said. Dumping the fuel appeared to be aimed at blinding the drone’s optical instruments and driving it out of the area.On a second approach, either the same jet or another Russian fighter that had been shadowing the MQ-9 struck the drone’s propeller, damaging one blade, according to the U.S. military.The U.S. military said it ditched the MQ-9 Reaper in the sea after what it described as the Russian fighter making an unsafe intercept of the unmanned aerial vehicle.The video excerpt released by the Pentagon does not show events before or after the apparent...

Opinion: What does March Madness tell us about societal ills?

Published Fri, 07 Feb 2025 11:28:40 GMT

It’s March and my uncontrollable passion for college hoops is starting to simmer. Two teams I have loved for decades are headed for the big dance. But I’m troubled. Is the sense of passion, belonging and comradery that bonds me to college basketball teams part of the poison that is driving the decline of civility in our society?Sociologists and anthropologists tell us humans are tribal. We form a sense of solidary around shared experiences, geographical proximity, religious affiliation and family. The exact basis for forming tribes varies, but once established we will fight to defend our tribe and the principles that separate us from those outside our physical or social boundaries.What does bond us to basketball teams?  It’s probably not identification with the players, who are genuine elites. They are separated from most of us by stature, strength, physical conditioning, discipline and God-given talent. But the small number of exceptionally tall human specimens offer a sense of com...

The five most expensive reported home sales in Los Gatos the week of March 6

Published Fri, 07 Feb 2025 11:28:40 GMT

A house in Los Gatos that sold for $2.7 million tops the list of the most expensive real estate sales in Los Gatos in the past two weeks.In total, 5 real estate sales were recorded in the area during the last two weeks, with an average price of $2.1 million, $1,137 per square foot.The prices in the list below concern real estate sales where the title was recorded from the week of February 27 to the week of March 13 even if the property may have been sold earlier.5. $1.7 million, condominium in the 100 block of Via ColladoA sale has been finalized for the condominium in the 100 block of Via Collado in Los Gatos. The price was $1,700,000 and the new owners took over the condominium in February. The condo was built in 1977 and the living area totals 1,440 square feet. The price per square foot ended up at $1,181. The condominium features 2 bedrooms and 2 bathrooms.4. $1.9 million, single-family residence in the 200 block of Barbara DriveThe property in the 200 block of Barbara Drive in...

Cast your vote in the Bay Area News Group’s comics contest

Published Fri, 07 Feb 2025 11:28:40 GMT

For two weeks, we’ve filled the vacancy on our comics pages with something new. Mercury News and East Bay Times readers have had Loose Parts, a witty, offbeat strip by award-winning artist Dave Blazek. Marin Independent Journal readers have enjoyed the wry, heartwarming Grand Avenue from Pulitzer nominee Mike Thompson. But Blazek and Thompson aren’t the only gifted artists out there. We’re hoping you’ll help make the final decision.Today and over the weekend, we’ll take four comics for a spin:Crabgrass, Tauhid Bondia’s engaging strip set in pre-cellphone suburbiaF Minus, Tony Carrillo’s quirky look at everyday lifeGrand Avenue, Thompson’s tale of twins being raised by their grandmotherLoose Parts, Blazek’s take on oddball characters in unexpected situationsYou’ll find the quirky quartet in print editions of the Mercury News and East Bay Times on March 16, 18 and 19 — with a vote by mail ballot running on the 19th. But subscribers can vote here instead. (One ballot per ho...

Major delays on westbound lanes of Bay Bridge

Published Fri, 07 Feb 2025 11:28:40 GMT

SAN FRANCISCO (KRON) -- There is heavy police presence on the Bay Bridge Thursday morning near westbound 80 and the Treasure Island offramp, according to the California Highway Patrol incident page. Traffic has been backed up since around midnight Thursday and is now impacting Thursday's morning commute.As of 3:49 a.m., CHP reported that the left two lanes are open while all other lanes remain closed. It is taking people an average of one to two hours to get over the Bay Bridge heading into the city.As an alternate route, take the Richmond-San Rafael Bridge to the Golden Gate Bridge, the San Mateo Bridge or the ferry to get into San Francisco. Around 10 p.m. Wednesday, someone climbed on to the railing of the Bay Bridge.CHP responded to the scene and said the person was on the west bound lanes just east of the center anchorage.About an hour later around 11:15 p.m. Wednesday, CHP said there was a three-vehicle collision on the west bound incline with those involved sufferi...

Charles Co. schools add AI gun detection

Published Fri, 07 Feb 2025 11:28:40 GMT

Charles County Public Schools in Maryland will join a growing number of D.C. area public schools with advanced gun detection technology.Weeks after a number of Virginia schools detailed security screeners that could be coming to schools in Prince William and Alexandria City Public Schools, the Maryland school system announced plans to incorporate artificial intelligence “visual gun detection technology” into their schools.More Charles County NewsMore Maryland NewsMore Local NewsThe new technology, which combines outdoor school camera software and an emergency alert system, is expected to provide a “robust response within seconds of a gun detection being verified.”Director of School Safety and Security Jason Stoddard said the system will be critical to providing valuable time to respond to potential safety threats.“Through system alerts, we will be able to notify police more quickly of a possible safety concern and place a school or campus in an emergenc...

Acacia Research: Q4 Earnings Snapshot

Published Fri, 07 Feb 2025 11:28:40 GMT

NEW YORK (AP) — NEW YORK (AP) — Acacia Research Corp. (ACTG) on Thursday reported a fourth-quarter loss of $18.4 million, after reporting a profit in the same period a year earlier.On a per-share basis, the New York-based company said it had a loss of 50 cents. Earnings, adjusted for non-recurring costs, came to 4 cents per share.The technology patent licensor posted revenue of $13.1 million in the period.For the year, the company reported a loss of $125.1 million, or $3.13 per share, swinging to a loss in the period. Revenue was reported as $59.2 million.The company’s shares closed at $4.54. A year ago, they were trading at $3.70._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ACTG at https://www.zacks.com/ap/ACTGSource

Injury rules Liverpool player Bajcetic out for the season

Published Fri, 07 Feb 2025 11:28:40 GMT

MANCHESTER, England (AP) — Stefan Bajcetic will miss the rest of the season because of injury, the Liverpool midfielder said Thursday.Bajcetic missed his team’s 1-0 loss to Real Madrid in the Champions League on Wednesday because of what was described as a “stress response” around his adductor.The 18-year-old Spanish youth international broke into Liverpool’s first team in August and has been a rare positive in a season of struggle for the Merseyside club.“Unfortunately I’ve picked up an injury that will keep me out until the end of the season,” Bajcetic wrote on Instagram. “It’s very sad to say goodbye to this amazing season for me but I understand this is part of football and will only make me stronger physically and mentally.“I would also like to say thank you to you reds for all the support through the season and I assure you I will do my best to be back stronger than ever.”Bajcetic’s absence is the latest blow for Liverpool manager Jurgen Klopp, who has ...

Tredegar: Q4 Earnings Snapshot

Published Fri, 07 Feb 2025 11:28:40 GMT

RICHMOND, Va. (AP) — RICHMOND, Va. (AP) — Tredegar Corp. (TG) on Thursday reported a loss of $3.9 million in its fourth quarter.The Richmond, Virginia-based company said it had a loss of 11 cents per share. Earnings, adjusted for one-time gains and costs, came to 2 cents per share.The plastic films maker posted revenue of $189.1 million in the period.For the year, the company reported profit of $28.5 million, or 84 cents per share. Revenue was reported as $938.6 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TG at https://www.zacks.com/ap/TGSource