Page 6 - Representative Patrick News Today

A highly-anticipated review takes a critical look at what the Federal Reserve missed as Silicon Valley Bank grew quickly in size in the years leading up to its collapse. It also points out underlying cultural issues at the Fed.

The House speaker has little trust in his Budget Committee chairman or his No. 2 as he works to unite the fractious Republican majority around a spending plan.

Former chair Giovanni Cicione and former state Senate candidate Joseph Powers are vying to succeed Sue Cienki as state Republican Party chair.

Demands to increase the insurance limit for depositors of the collapsed bank would bail out would-be lords of tech and could set a troubling precedent, critics say.

“I am not some ‘Lord of the Flies’ nihilist,” said the far-right congressman and chief tormentor of Speaker Kevin McCarthy.

Speaker Kevin McCarthy’s slog to his post ended with a remarkably public show of intraparty strife that played out in a history-making overnight session.

Without a speaker, the House cannot convene and start official business, and restive lawmakers were once again left hanging in the balance.

McCarthy told Republicans in a call early Friday that he had made more concessions but hadn’t reached a deal with a contingent of far-right lawmakers. Before the House met ahead of an expected 12th vote, lawmakers, mostly Democrats, marked the second anniversary of the Jan. 6 riot.

Near collisions abound on Capitol Hill as House members make history in failing to elect a speaker after three days and more than 10 futile votes.

A monthslong lobbying effort has failed to yield the breakthrough the California Republican would need to cement the top job, threatening a messy floor fight just as his party is assuming control of the House.