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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 e...

attorney over a $130,000 check to stormy daniels prosecutors call hush money. my next guest, former u.s. assistant attorney to the southern district in new york says this, andy mccarthy in national review. progressive prosecutorsal village brs, alvinbragg. we shouldn't lose sight that it's good for democratic political fortunes in the long run. andy, surprised we are at this point even though there is no confirmation of it? where do we go from here. >> it's not easy to be surprised because of all the reporting we have seen the last couple weeks and the d.a. seems to do the things you...

cnn newsroom. hello, i'm bianna golodryga. a powerful winter storm is related to two storm-related deaths. i'm victor howell. and we have this video of waters rushing through springfield in central, california, and the weather is getting worse by the minute. >> residents are being urged to get to higher ground for their safety. parts of interstate i-80 had to be shutdown because of failed water pumps. and we go to nick who is there on the scene for us. what is behind you there? >> well, since we have last spoken, we have moved from felton to santa cruz, and what you are seeing here...

what happened? >> erica, this happened so fast. it's stunning. silicon valley bank shut down by california regulators after the stock crashed by 60% yesterday after the bank said it needed to rapidly raise cash. this is easily the biggest bank failure since washington mutual fell apart in 2008 during the financial crisis. silicon valley bank, if you haven't heard of it, it is a major lender to tech start-ups. the fdic says that depositors that have $250,000 or less, they are insured here. they will get their money. they will get access to their money as soon as monday morning. but we...

trump with quite the opening statement on the chinese communist party and president xi jinping. we have a lot to unpack from last night's hearing held by the new house committee on china. plus a new nonpartisan report is detailing more of the failures that led to the january 6th capitol attack. and also ahead, we'll break down what happened at the supreme court as justices heard arguments on president joe biden's student loan forgiveness plan. good morning and welcome to "way too early" on this wednesday, march 1st. march already. i'm jonathan lemire, thanks for starting your day wit...