Tag

Government Takeover

All articles tagged with #government takeover

crime2 years ago

Driver charged for crashing U-Haul truck near White House security barriers.

A 19-year-old Missouri man, Sai Varshith Kandula, has been charged with threatening to kill, kidnap or inflict harm on the president after driving a rented box truck into security barriers near the White House. Authorities believe the crash was deliberate and found a Nazi swastika flag inside the truck. Kandula reportedly told investigators he wanted to take over the government and kill the president. No weapons were found inside the truck, and authorities are looking into the suspect's mental health. The incident caused no injuries, and President Joe Biden's exact location at the time of the crash was unclear.

business2 years ago

The Fall of First Republic Bank and the Banking System's Crisis.

Regulators seized control of First Republic Bank and sold it to JPMorgan Chase in an effort to curb a two-month banking crisis that has rattled the financial system. First Republic, the second largest U.S. bank by assets to collapse after Washington Mutual, struggled to avoid a government takeover. The takeover wiped out First Republic's shareholders and debt holders, and the bank's branches will become JPMorgan Chase outlets. The F.D.I.C. estimated that its insurance fund would have to pay out about $13 billion to cover First Republic's losses.