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pregnancy and during childbirth. that number is soaring, and some groups are hit worse than others. coming soon to a florida beach near you, a 5,000 mile wide blob of seaweed. and frankly, guys, it stinks. welcome to the lead. i m jake tapper. we start today with our money lead and a $30 billion, with a b, dollar rescue than. america s largest banks announced they are going to step in to try to prevent what could lead to a domino effect that would theoretically wreck the economy. the group of banks are all going to provide a $30 billion rescue for san francisco based first republic bank. first republic saw its stock plummet after two other banks failed over the weekend. and moody s downgraded its outlook for the entire banking industry. stocks rebounded today over the rescue news, the dow closing up 373 points, signaling that experts are, at least for now, breathing a sigh of relief that further economic damage may be avoided or at least delayed. our business corr ....
do you have the votes for speaker locked in tomorrow? i think we ll have a good day tomorrow. what are your conversations like with i hope you all have a very nice new year s eve. taking the shine off the republicans big day, new york republican congressman-elect george santos will likely be among the new lawmakers sworn in despite to admitting to a growing number of lies about his life and resume. we will dig deep near that and the multiple investigations into santos and his campaign. the latest on donald trump s taxes. what he paid and where that money went. we have details on the dozens of countries where he was making money and paying taxes. including china, india, and the uae we re going to start with the house republicans, taking control of the house officially tomorrow. but right now, what should be a triumphant moment is perilously close to turning into a political disaster. the likes of which we haven t seen in 100 years. that s because kevin mcca ....
he says are threatening the very foundations of our republic. plus, trump s lawyers and the justice department face off in federal court. we ll explain the big developments to come out of the special master hearing. and, a hot holiday weekend arrives with little to no running water for nearly 200,000 people in mississippi. the state has troops on the ground to help in the water crisis. good morning. and welcome to way too early. i m jonathan lemire. on this friday, september 2nd. thank you for starting your day with us. we ll begin in philadelphia, where president joe biden issued a dire warning about threats to american democracy last night, in a rare prime time address. standing outside historic independence hall, where the united states constitution was written and signed, the president spoke directly about the dangers posed by the trump-backed wing of the republican party. here s some of what he had to say. quality and democracy are under assault. we do ours ....
Rescue news, the dow closing up 373 points, signaling that experts are, at least for now, breathing a sigh of relief that further economic damage may be avoided or at least delayed. our business correspondent joins us now. tell us about this rescue plan and how it would work. reporter: this is a major development. essentially, a cash infusion into first republic giving it financial power that svb did not have at its finger points. i want to read the statement we just got, saying 11 banks announced $30 billion in deposits in first republic bank. the show of large banks is most welcome and demonstrates the resilience of the banking system, patting these banks essentially on the back for stepping up here, arming first republic with financial firepower in the event, jake, it sees customers move their money, similar to what we saw with svb. so short of shielding first republic if it sees a ....
Think that best case scenario, on the second vote, mccarthy can get the 218 that he will need. i want to read a part of what a former aide of speakers boehner and ryan wrote in an op-ed, if republicans are unable to muster the votes for a speaker, it will make is very clear from the outset that they cannot be counted on to fulfill the body s responsibilities. the prolonged spectacle would leave the rev can majority hopelessly damaged from the start along with the institution of the house itself. do you agree? i absolutely agree. that is why it was so important on the democratic side for there to be consensus around elevating hakeem jeffreys to be minority leader and all of the comments that congressman jeffries has made since then, it is essentially fij finger points and the democrats gave you good public policy, we have our stuff together, look at what is happening on the right, and as long as that distinction and juxtaposition can be maintained, ....