Banking On Each Other
Eleven of the largest U.S. lenders agreed to deposit $30 billion into First Republic Bank in an effort to rescue it. The move was also meant to stop the ongoing panic in the financial world, following the failure of three smaller banks this past week. Starting next Tuesday, tens of thousands of Los Angeles Unified School District service workers plan to walk off the job for three days. Members of the district’s teacher’s union are also joining the strike in solidarity, shutting down schools across the country’s second-largest school district. And in headlines: Poland will send four fighter jets to Ukraine, a new CDC report found that America’s maternal mortality rate spiked in 2021, and the Senate confirmed former Los Angeles Mayor Eric Garcetti as the next U.S. ambassador to India.