Today's Liberal News

How Not to Cover a Bank Run

Updated at 10:12pm on March 13, 2023.On September 17, 2008, the Financial Times reporter John Authers decided to run to the bank. In his Citi account was a recently deposited check from the sale of his London apartment. If the big banks melted down, which felt like a distinct possibility among his Wall Street sources, he would lose most of his money, because the federal deposit-insurance limit at the time was $100,000.

Silicon Valley Is Losing Its Luster

This is an edition of The Atlantic Daily, a newsletter that guides you through the biggest stories of the day, helps you discover new ideas, and recommends the best in culture. Sign up for it here.Last Friday, California regulators shut down Silicon Valley Bank—a prominent lender for start-ups and venture-capital firms—marking the largest American bank failure since the 2008 financial crisis.

The Surprising Truth About Seasonal Depression

Since Sunday’s daylight saving, many of us are feeling new excitement for spring after months of being beaten down by a frigid winter. Right? Or at least that’s the prevailing narrative across a large part of the country—that we suffer through the doldrums of winter and the payoff is a glorious lead-up to summer’s main event.

The Alaska Oil Project Will Be Obsolete Before It’s Finished

If the world turned off the tap of fossil fuels tomorrow, all hell would break loose. Something like 30 percent of global electricity and 9 percent of transport would still be running; billions of people would be stuck at home in the dark.That’s why, even though world leaders now talk constantly about transitioning away from fossil fuels, they also fret about ensuring a supply of oil and gas for next week, next month, and next year.

What Social Media Is Doing to Finance

Financial panics are nothing new. But the strange little panic we’re enduring—one that started last week with a massive bank run causing the collapse of Silicon Valley Bank and that continued this morning with big sell-offs in the stocks of other regional banks—is arguably the first one in which social media, and particularly Twitter, has been a major player. And if the past few days are any indication, that does not bode well for the next major financial crisis.

East Palestine Toxic Train Crash Shows Plastics Industry Toll on Planet. Will U.S. Ban Vinyl Chloride?

Five weeks after the Norfolk Southern toxic train derailment and so-called controlled burn that blanketed the town with a toxic brew of at least six hazardous chemicals and gases, senators grilled the CEO of Norfolk Southern over the company’s toxic train derailment. The company has evaded calls to cover healthcare costs as residents continue to report headaches, coughing, fatigue, irritation and burning of the skin.

Climate & Indigenous Activists Decry Biden’s Approval of Willow Oil Drilling Project in Arctic

The Biden administration has approved a massive oil and gas development in Alaska known as the Willow project, despite widespread opposition from environmental and conservation groups that argue Willow will amount to a carbon bomb. The administration also announced Sunday it will ban future oil and gas leasing for 3 million acres of federal waters in the Arctic Ocean and will limit drilling in a further 13 million acres in the National Petroleum Reserve in Alaska’s North Slope.

China’s Middle East Deal: Iran & Saudi Arabia Reestablish Relations as U.S. Watches from Sidelines

Iran and Saudi Arabia have agreed to reestablish diplomatic relations after seven years and reopen their respective embassies within months, in a deal brokered Friday by China and signed in Beijing. The rapprochement between the two rivals is the latest sign of China’s growing presence in world affairs and waning U.S. influence in the Middle East amid a shift in focus to Ukraine and the Pacific region.