Stay updated with breaking news from Circa 2008. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
i m michael smerconish in philadelphia. on friday the u.s. conducted major retaliatory airstrikes on iraq and syria, the start of what the u.s. military says likely will be larger attacks on iranian-backed militias. airstrikes hit more than 85 targets according to u.s. central command including command and control operation centers, intelligence centers, rockets and missiles and unmanned aerial vehicle storage. the move came in response to a drone strike by iran-backed militants on a u.s. military outpost in jordan on sunday. that killed three u.s. service members and wounded more than 40 others. the strikes began only about an hour after president biden attended the dignified transfer of their remains at dover air force base in delaware. officials say the timing was coincidental but symbolic of the gravity of his decision. iraqi officials say at least 16 people were killed in the strikes and condemn the attacks as, quote, a flagrant violation of iraqi sovereigty. a ch ....
you are in the cnn newsroom. i m paula reid in washington. jim acosta is off. a major move today in an attempt to halt a global banking crisis. switzerland s largest banking group ubs just agreed to buy its rival credit suisse in an emergency rescue bid. the purchase is aimed at halting investor panic brought on by two sudden u.s. bank failures this month. the deal comes after shares of the ailing bank lost 25% over the last week. even an emergency loan from the swiss national bank failed to stop the fallout. cnn reporter anna stewart will join us in just a moment, and cnn global economic analyst, rana foroohar joins us now. all right, rana, can you explain to us this deal? yeah, absolutely. so a little bit of con context. credit suisse has been a troubled bank for some time. so this, you know, this is a bank that over the last couple of years has had any number of crises. it s been considered weak in the marketplace. even late last year, it was having its own probl ....
Crisis circa 2008, but because we have had essentially four decades of easy money. we have had falling interest rates on trend since the 1980s, since 2008, we have had an incredible amount of quantitative easing. that means central banks pumping money, not just the fed, but almost all central banks around the world pumping money into the markets. and market participants have just gotten very, very used to rates being low. now, low rates are kind of a panacea. they re a blanket that covers risk. but when rates start to go up, as they have been, you begin to see, as warren buffett said, who s not wearing shorts when the tide pulls out. and that s exactly whatw we re seeing. so i would be not surprised if this isn t more of a broader crisis in terms of, you know, who s holding debt? is it banks, is it companies? is it certain kinds of consumers? i think debt and rising interest rates on debt is the real problem here. and i suspect that s going to be the story in the coming months. thank ....
Frustrated nation, circa 2008. it s about three guys who used to be in a hip hop group together kind of coming to terms with the failure of that group. yeah. and it takes place significantly, i think, from the night at that barack obama is elected. why? well, i wanted to write about three characters who had sort of lost their optimism and the bs way to really outline them was to cast them against this evening when it felt like everyone in new york city was looking forward with positivity, with optimism. reporter: optimism and strength are at the heart of this renewed push for influential films. as this american debate over racial relations continue, the movies, too, depict a country divided and the characters portrayed in these films are of those who have often been ....