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tv   Early Start With Christine Romans  CNN  March 17, 2023 2:00am-3:00am PDT

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right now on "early start," the big meeting in moscow just announced. putin and xi face-to-face in a matter of days. mental illness should not be your ticket to death.
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>> three more people charged with murder after a virginia man died in custody, his family calling for justice after seeing video of his last moments. and growing legal problems for donald trump. thousa now dozens of staffers at mar-a-lago are receiving subpoenas. here we go, friday, st. patrick's day, welcome to our viewers in the united states and around the world. i'm christine romans. we begin with china's president xi jinping set to meet with vladimir putin next week in russia. the kremlin says the two will discuss strategic cooperation. this is amid fears that beijing might provide weapons to russia for its war in ukraine. kristie lu stout in hong kong for us. what else do we know about this meeting? >> reporter: chinese leader xi jinping will be traveling to russia to meet with vladimir putin from march 20th to the 22nd. according to a spokesman earlier
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day, they will discuss bilateral relations, regional issues, while drawing a blueprint for the two countries' relations. and she will urge peace and promote attacks. and the relationship is completely different from the approach of certain countries that cling to the cold war mentality, gang up on each other, engage in small circles and confrontations and bully others. so striking a rather defensive tone there. the two last met at a summit last accepseptember and it tooke just weeks before the communist party congress when xi secured the unprecedented third term as party leader. so in moscow next week, this will be after the national people's congress. and the china/russia relationship of course is under intense scrutiny. the u.s. accuses china of considering sending lethal aid and support to russia for its
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war effort in ukraine. beijing continues to push back on those claims and accuses the u.s. of pouring weapons into ukraine and china claims to be a neutral party to the ukraine conflict despite the no limits relationship it has with russia, despite the fact it refuses to condemn the invasion. as you recall last month china released the 12 point peace plan position paper, but that was with a roundly criticized by western leaders. and christine, the view will likely be very much reenforced with the optics of this visit early next week. >> absolutely. kristie lu stout, thank you. poland has become the first nato country to pledge fighter jets to ukraine. the state department welcoming the move. >> the polish know by history and as well as recent events that we have to stand up to this aggression, and they recognize that ukrainian partners are in a
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sense fighting this war for all of us. >> four mig-29 fighter jets are set to be handed over to kyiv in the coming days. salma abdelaziz is in london with more. does poland's move force the hand of other nato countries to do the same? >> reporter: that is absolutely the question. you could argue that four mig fighter jets aren't going to make a huge difference on the battleground. but where they do is the pressure towards the west. towards nato and the united states to potentially supply the same. president zelenskyy has repeatedly made requests for fighter jets. president biden just a few weeks ago had to publicly respond to those demands saying that the u.s. military had assessed that kyiv did not need f-16s from the united states at the time. and now top u.s. officials saying despite poll land's move, they will continue to remain with that calculus, that they won't provide the claims right now. but what we found throughout the
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conflict is that what was considered dangerous or escalatory like jets or tanks at the beginning of this war may now be considered necessary and required by battlefield demands. what we're finding is that allies are continuously flexible when it comes to the demands of kyiv. there are no closed doors. and for poland to make this move first, yes, it is quite natural in some ways, it is poland that is on the front lines of this war, it is poland that had missiles landing right up near its border, poland that had to welcome millions of refugees and feels deeply threatened of course by russian aggression and russian expansion. so it is really trying to set a precedent here for other allies. but for now, the rules remain the same, calculation remains the same for the united states, but it doesn't mean that there is wiggle room. >> salma, thank you for that. on this st. patrick's day, first republic bank is counting its luck after 11 u.s. major
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banks pulled it back from the brink of collapse. a $30 billion cash inflation from jpmorgan chase, bank of america, wells fargo, citigroup and others that will help first republic meet withdrawals and also reassure anxious markets and boost confidence in the wider banking system. are a rahel solomon has more. >> reporter: on the banking front, helping calm the nerves of investors, 11 banks now stepping up to provide financial life line to first republic bank. the regional u.s. bank facing significant challenges over the last week similar to those that led to the demise of silicon valley hubank and including customers rushing to withdraw their money. the banks now stepping up include jpmorgan chase, bank of america, citigroup and wells fargo who announced thursday that they are each making a $5 billion uninsured deposit into the bank. also stabilizing markets, news that credit suisse will be borrowing 50 billion francs from
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the swiss central bank. and this is a major development for the larger economy because credit suisse is considered a systemically important bank for the global markets. and that just means that it is too important and too big to fail. since svb's troubles began, markets have been on a wild ride posting volatile swings. so what is ahead? a global market strategist tells me that we may not be out of the woods with regards to potentially seeing other bank challenges, however policymakers stand ready to provide support and decline in inflation and rate hikes should provide optimism. rahel solomon, cnn, new york. three hospital workers are now facing murder charges after a 28-year-old black man died in custody. they join seven sheriff deputies already charged with s second-degree murder. brian todd has more from
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virginia. >> reporter: three more people charged with second-degree murder in the death of 28-year-old irvo otieno in custody. all three are employees of the central state hospital mental health facility in virginia where otieno was taken on march 6, that is in addition to seven sheriff deputies already charged with second-degree murder. >> they smothered the breath out of my baby. >> reporter: his family how now seen video of the fatal incident. >> at what stop do we stop preserving life, at what point do we consider mental illness a crime? >> reporter: prosecutors say otieno died of asphyxiation after being held down for 11 or 12 minutes. >> restrained so brutally with a knee on his neck, the weight of seven individuals on his body while he is face down, handcuffed with leg irons. >> reporter: otieno was arrested
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on march 3 after police say that they responded to a burglary call next door to his home and took him to the hospital for evaluation where he became, quote, physically assaultive. his mother said she pleaded with police. >> took him off treatment, took him to jail, didn't take him with any medicine. >> reporter: after a weekend in jail where video shows he was pepper sprayed, punched and mistreated, he was brought to the central state mental facility on march 6 where authorities allege he became combative. >> in the videos, he was never confrontational with them. he is not posing a threat to them. he is not violent or aggressive with them. >> reporter: in court this week, an early xwlimsglimpse of the potential defense. >> the ongoing issues that they had been having with this
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individual with regards to his disorderly conduct, with regards to his aggression, with regards to his resistance. >> reporter: but his family says what he needed was help. what do you want to see happen to these deputies? >> justice. i want them put away for life. that they don't see the light of day again. what they did to my son was horrific. >> reporter: we've reached out to the central state hospital mental health facility for their response to three of their employees being charged with second-degree murder. we have not heard back. we have also reached out to the attorneys identified so far for the seven deputies charged. we've heard back in detail for lawyers for just one of them, who told us that their client looks forward to being vindicated in court. brian todd, cnn, virginia. and just ahead, fighter jets chasing down a north korea
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missile in flight. and could new indictments loom for donald trump. and the american city that just moved to get rid of gas furnaces for good. someone who thinks with their handsds. who can shape raw materials into s something meaningful. and whwho wants to serve in their own way. if you're out there. if you're looking for more. we're looking too. we're calling on a new generation of builders for navy's next-gen submarines. ugh covid-19? and being overweight makes it more risky. i'm calling my doctor. if it's cod, paxlovid. authorized for emergcy use, paxlovid is an oral eatment for people 12 and up... who have mild-to-moderate covid-19 d have a high-risk factor for it becoming severe. my symptoms are mild now, but i'm not waiting. if it's covid, paxlovid. having even one risk factor,
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you found the one. now find the ring at zales, the diamond store. cnn has learned dozens of workers at mar-a-lago have been subpoenaed to testify before a federal grand jury part of the special counsel's investigation into the former president's handling of classified documents. paula reid says that it is the latest twist as the legal woes appear to deepen for the 2024 presidential hopeful. >> reporter: former president trump facing increasing legal jeopardy and criminal investigations in multiple jurisdictions. in washington, d.c., a former white house aide, margo martin, who followed trump to mar-a-lago, appeared before a grand jury as part of the special counsel's investigation into classified documents found at the florida east state. and his former fixer and personal attorney michael cohen
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appearing twice this week before a grand jury in new york investigating hush money payments to stormy daniels. >> it was like a -- it was being on trial. >> reporter: cohen had already met with investigators 20 times to share what he knows. >> what i can tell you is that they are questioning me started out at like 35,000 feet and by the time i hit the 20th interview, we were down to like 3 feet ready to land. the grand jury was the actual takeoff back to we'll call it accoun accountability-ville. >> reporter: cohen helped facility at a time $130,000 in payments to daniels right before the 2016 election. daniels also spoke with investigators wednesday via zoom. the manhattan district attorney's office has invited the former president to testify as is the right of potential defendants in new york, but he declined and his lawyer says if he is indicted, that would
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catapult him back to the white house. >> i think it will embolden his supporters and give him more threat because it will be proven to be wrongly accused. >> reporter: and in georgia the atlanta journal constitution spoke with five jurors who spoke on the fulton county special grand jury investigating trump's actions in the state after the 2020 election revealing they had heard a previously undisclosed recording of a conversation between trump and the late former georgia house speaker david ralston where trump pushed for him to call a special legislative session to overturn joe biden's win in the state. a source confirmed the existence of a recording to cnn. one of the jurors recalled ralston basically ultimate can the president off telling trump i will do everything in my power that i think is appropriate. ralston has since died and the recording has not been made public. but it echos the now infamous call to georgia's secretary of state around the same time.
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>> all i want to do is this, he just want to find 11,780 votes which is one more than we have. because we won the state. >> reporter: and cnn has learned that special counsel jack smith has subpoenaed dozens of mar-a-lago staffers in his investigation into the possible mishandling of classified documents. we've learned from sources that he has subpoenaed everyone from close aides to housekeepers, grounds keepers, and even servers at the resort. they want to know if anyone has seen or heard anything related to classified documents or boxes that could have contained classified materials. paula reid, cnn, new york. i want to bring in now dave aronberg. so we started with more than half a dozen investigations into the president. there are four big ones we're watching now. let's start with the handling of the classified documents.
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after about a year of investigating, what do these new subpoenas mean to servers and wait staff and people who work at mar-a-lago? >> good morning, christine. it shows that special counsel jack smith is a pitbull. you are seeing an investigation with a lot more urgency now that he is in charge of it. a lot of us are wondering where was is the last couple years. but it also shows through the subpoenas that this matter is about the obstruction, it is not about the possession of the documents. what biden and pence did really does not matter as much as what trump did after he was asked to return the documents. did he try to obstruct, did he instruct his staff to hide the documents. that is what they are asking staff. did they see anyone move the documents upon the former president's orders. and what did they see, what did they hear at mar-a-lago. take is why it is important. and that is why when at the talk about what biden and pence did, that is a red herring. this is about the obstruction
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under section 18 usc 1519 which could get someone up to 20 years in prison. >> so let's turn to the new york case of the hush money payments. listen to what michael cohen said yesterday after testifying wednesday. >> having spoken and met with them so many times, do you believe an indictment is imminent? >> i do. >> when do you think it could ha happen. >> let's hope it is sooner rather than later because everyone needs to be held accountable, everyone needs to be held to the same standard of the law and that includes former presidents. >> do you think there is an indictment coming soon? >> i do. i think that it will happen by the end of next week. this case is referred to within the d.a.'s office in manhattan as the zombie theory because it just won't die. it comes back and forth. it starts and stops. it has been around for about five years. but i think they really serious now because they invited donald
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trump to testify. that is something that do you only at the very end of an investigation and only when you are planning to indict the target. i mean, there could be exceptions, but in an overwhelming number of cases, this shows that there will be an indictment and the fact that michael cohen has already testified to me is a punctuation mark. so i expect an indictment to come soon. i still think that this investigation, this case would be the fourth strongest out of the four out there. so we'll see what happens. there could be a lot of surprises out there after we find out what the indictment says because based on reports that it is about an election crime, about falsification of business records, that seems like small ball. so we'll see if there are surprises. the fact that allen weisselberg's former daughter-in-law testified means that maybe some financial crimes will be added on. hell hath no fury like an ex-daughter-in-law scorned. >> dave, thank you. and quick hits across america now. utah's republican governor spencer cox has signed a bill
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banning abortion clinics in the state starting next year. abortions would still be allowed at hospitals until 18 weeks of pregnancy. military has ruled out foul play in the death of a female soldier at ft. hood, but investigators are still looking at allegations of sexual assault, this is three years after the harassment and murder of another female soldier on the army post. the san francisco bay area will phase out natural gas powered furnaces and water heaters to eliminate nitrogen ox side emissions. air quality regulators voted for the new rules to begin by 2027. could north korea hit a u.s. city with a nuclear missile right now? what the experts say. and plus the sea of seaweed threatening a vacation paradise. s we travel. today we unite with the elements that have always been at our cocore. as every action counts, we are committed toto building vehicles that contain an averagege of 40% recycled materials.
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north korea confirming its long range intercontinental ballistic missile launch thursday shows its willingness to counterattack enemies. pyongyang says it was a response to this week's joint military drills by south korea and the u.s. will ripley has more on what kind of threat a missile like that poses to the u.s. >> reporter: in the skies near japan, f 15s on the hunt for suspected north korean intercontinental ballistic missile missile capturing what could be its last seconds in flight. this rare video released by japan's military, experts say the burning object resemble as ballistic missile boost rocket re-entering the atmosphere flying for about an hour at hypersonic speeds. >> if there is no interception
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or the interception fails, an icbm launched from north korea would take a little bit more than 30 minutes to reach the homeland u.s. and also east coast will take slightly more time. >> reporter: they simulated an attack. and the simulation shows 33 minutes from the time of launch to the time of impact if u.s. missile defenses fail to shoot down the icbm. >> missile defense begins here. >> reporter: for years u.s. leaders have reassured the public. >> the nation should be very confident. >> reporter: and america's allies. >> we will shoot them out of the sky. >> reporter: missile defense systems can keep them safe. but virtually all ballistic missiles travel at more than five times the speed of sound. sometimes faster. >> it has been described as hitting a bullet with a bullet.
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>> three, two, one, ignition. >> reporter: a report last year finding america's defense system, the nation's best perhaps only line of defense, only siucceeds about half the time. >> if north korea were to fire nuclear-armed icbms at the united states, we cannot be assured that our missile defense system would prevent the deaths of millions. >> reporter: and a defense report last year said that the system has demonstrated a measured capability to defense the united states, deploy forces an allies from a rogue nation's missile attack. but that rogue nation has a fast growing arsenal. kim jung-un's military is mass producing icbms, he know as barrage of ballistic missiles could be too much for the u.s. to shoot down. with each launched, the united states goal of denuclearizing north korea seems to rocket farther and farther into oirt
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space. north korea wants to become a nuclear power like china and russia with an arsenal so big that it would be impossible to shoot all of the nuclear weapons down. that essentially gives kim jung-un the legitimacy that he has been working so hard to get by lamping s inglaunching so ma missiles. will ripley, cnn, taipei. happening today, turkish and finnish presidents are meeting in istanbul. both leaders have suggested that turkey will ratify finland's bid to join nato during this advice he -- visit. and finland applied for nato membership last year after russia invaded ukraine. nada, what is the hold up here? >> reporter: this is months in the making. finland initially applying to join the alliance alongside sweden, and turkey for the most part focusing on sweden has over the last few months expressed concern over both nations but
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focusing squarely on the situation where it accuses the government of taking a lax approach to groups that they consider terrorist organizations, namely kurdish groups in the country. that has been the key criticism from the turkish government. but now it appears that president erdogan is prepared to take steps to ratify the accession of finland. we've heard hints earlier in the week from president erdogan that this would be the case, we've seen negotiations over the last few week and months, even policy changes in both helsinki and stockholm. and wednesday president erdogan told reporters in ankara that turkey would do its part to fulfill its promise. similar allegiance from the finnish president that in the instance that turkey would ratify finland's accession to the nato alliance, turkey could request a face-to-face meeting and that finland accepted the invitation.
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we are expecting the two leaders to meet in the next two hours or so and there is expected to be a joint press conference. we've already heard earlier in the week from the swedish government saying that they understand finland may be taking steps to gain accession without sweden, but sweden would be safer with finland in thele alliance. quick hits around the globe. firefighters trying to save workers trapped in a columbian mine. at least 21 miners died, it is believed no more survivors will be found. it is unclear how the miners became trapped. and a monster mass of smelly seaweed hitting barbados. the seaweed is not a new problem, but this year's mass could be the largest ever stretching more than 5,000 miles. it could reach florida this summer. and a long-standing st. patrick's day tradition resumes
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today. president biden will host the irish prime minister for a celebration at the white house. they will discuss their shared support for ukraine. france just raised the retirement age without even voting on it. how is that going over? and if inflation is easing, why are we still paying so much for groceries? innovation electrified. with apple m music seamlessly integrated. the all-new, all-electric eqs suv from mercedes-benz. see your dealer for exceptional offers on mercedes-benz electric vehicles. ♪ inner voice (kombucha brewer): if i just stare at these payroll forms... my business' payroll taxes will calculate themselves. right? uhh...nope. intuit quickbooks helps you manage yr payroll taxes, cheers! with 100% accurate tax calculations guaranteed. my mt important kitchen tool?
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right now protests on the streets of paris, protestors angry that they raised the retirement age without even voting on it. some french fury on display. french retirees have probably the most generous benefits in the world and workers are outraged that the retirement age will go up two years from just 62 to 64. and sam kiley is joining us live from paris. sam, protesters blocked the inner ring road earlier.
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and i see the garbage stacked up behind you hell hath no furry lining the french retiree scorned. >> reporter: well, yeah. i think that there are two things going on here. you've got first of all yet another attempt by president macron to try to force through these pension reforms, the country says it has a 12 point 5 billion euro or similar figure in dollars deficit when it comes to the funding of pensions. these are pensions that those in work have to pay a supplement for for those leaving work. so raising the age by two years is something that for the french really strikes for many of them, and two-thirds of the country are against the reforms, very much at the heart of their way of life. yesterday you saw the spontaneous demonstrations across the country, some several thousand here in paris, more than 300 people have been
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arrested in these demonstrations. and they were spontaneous partly in response to the effects of these strikes, but also -- or rather of the pension plans, but also because mckacron's governmt forced it through without a majority in the assembly, using a part of the contusion to drive through legislation that was not being ratified by parliament here. that is something that is usually associated with actions in extreme, dealing with a national emergency, not when you are trying to come up with a series of fiscal reforms. so you can see this rubbish building up on the streets. i've just come in from the c channel tunnel by train. and there were several streets literally wall to wall garbage piled up. 7,000 tons at least of garbage
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reportedly been piled up here in the country. but it is not just the garbage collectors who have gone on strike. the unions are really very strongly opposed to this and planning a series of much less spontaneous and much less violent demonstrations over the next week. >> fascinating. sam kiley, nice to see you. thank you so much. consumer inflation cooled a bit more last month, the eighth month in a row. it is now at the lowest level since september twin. that is good news. but you don't see prices easing very much at the grocery store. right? let's bring in our business reporter nathaniel mire son. this is just so troubling that the grocery store prices have been so sticky.son. this is just so troubling that the grocery store prices have been so sticky. up 10.2% annually. why are shoppers still paying more for these important items? >> so grocery prices have remained stubbornly high. we see higher costs for
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producers on labor and transportation especially, they are passing down those higher costs on to shoppers. and we still have to buy food. so fewer tradeoffs that we can make. so companies are raising prices without customers pulling back in other areas like electronics, furniture. once food prices go up, it is much harder for them to come back down. >> let's talk about egg prices and how they skyrocketed. it was incredible. and that is not necessarily the inflation story overall. that is also a bird flu story. but then they started to come down and still dollar tree is saying they are too expensive, we won't even carry them. >> so eggs for consumers have increased 55% annually. although we do start to see them come down a little bit. so dollar tree -- but for dollar tree, they are saying it is still too expensive. dollar tree sells just about everything for $1.25 at either 8,000 stores.
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used to be everything for a $1, but it recently raised prices. so it has less flexibility to increase prices. so they are saying instead of taking a loss on eggs, they will just stop selling it until prices come down. and some people may not know dollar tree sells eggs and groceries, but dollar stores are the fastest growing food retailers in america. >> interesting. and in my little hometown, the grocery store went away and the dollar tree is where people get their day to day groceries. food companies are entering a new era of sleep snacks? >> instead of chips and cookies, food makers want us to reach for cereals and foods with melatonin in them and other vitamins that are supposed to help us fall as asleep. post is known for raisin bran. and the company has a new cereal called sweet dreams with lavender and camomile and vitamins, supposed to help you
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fall asleep naturally. and this is part of a growing trend, they are trying to boost sales through the new kind of fourth type of meal category, nighttime snacks. pepsi has a new drink called drift well. made to help people unwind. and nestle has a chocolate bar called good night, yeah, to help you fall asleep. >> a market i didn't even know existed. counting sheep is free if you are trying to pinch pennies. nathaniel, nice to see you. major upsets, plus millions of bracket on the very first day of march madness. andy scholes has the "bleacher report." >> yeah, if you still have a perfect bracket, odds are you are not telling the truth. only 787 remain better effect out of the tens of millions. 90% have a big old x on them in the second game of day when turman stunned virginia.
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>> gets it back. double teamed along the baseline. intercepted. and the three, and the win! with 2.2 to go! >> furman with an all-time ncaa moment there with that steal and shot. virginia fans were shocked. check out this furman fan, she was praying hard that they would hold on. and her prayers were answered. furman the smallest school in the tournament with less than 2700 students knocks off virginia 68-67 and cavaliers have been eliminated in the first round three out of the last four tournaments. greenville, south carolina making the most of their trip to march madness a. >> i feel like those are the moments that i've craved my whole life. as soon as i got the ball and i seen a shot attempt i had, i knew that all i could do at that point was just rise up and shoot
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it. >> saturday will be another chance to make history. and this team has performed the best under the brightest lights. >> furman wasn't even the biggest upset of the day. 15 seed princeton taking the lead on arizona and wildcats didn't score in the final 4:45 of the game. tigers pull off the upset 59-a 55. 11th time overall that 15 seed has won a first round game. 55. 11th time overall that 15 seed has won a first round game.55. 11th time overall that 15 seed has won a first round game. but princeton said they expected to win. >> on paper it looks like a big upset, but we believe in each other. and i think that we can beat anybody in the country when we're at our best. and surviving a scare last night by northern kentucky, the game tied at 36 with 15 minutes left, but the cougars would end upholding on to win.
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but bad news, their star guard reaggravate his groin injury and didn't play in the second half. houston will play auburn tomorrow. but you got 16 more games coming your way today start being with usc and michigan state at 12:15. you can watch it all across all our sister networks. the game that hurt for a lot of people was arizona. many people had their in their final four. even president biden had them winning the entire tournament. so big sad face for those people waking up today. >> and i didn't even get a chance do a bracket, i've been so busile doing thefollowing th banks. but i would have been busted on the first day anyway. andy scholes, thanks so much. coming up on "cnn this morning," russia may now have pieces the u.s. drone downed in the black sea. and next here, bank fears in the u.s. and beyond, is the worst finally over. this'll help.
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your roman's numeral, $12 billion, that is how much the federal reserve loaned banks this month in this new emergency lending program that gives banks the original value of the treasury bonds, bonds that have crumbled in value during historic rate hikes. this keeps them from selling assets at a loss like silicon valley bank did causing all of that drama. and asia markets finished higher, european markets up after european central bank raised rates 50 basis points but did not signal more. so wall street, stock index futures also leaning higher although bearelybarely. a bailout by the banks, providing $30 billion in deposits to first republic. nasdaq finishing up 2.5% almost.
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mortgage rates fell slightly this week, average 30 year fixed now at 6.6%. and on inflation watch, gas prices held steady overnight at $3.46 a gallon. consumer sentiment data from the university of michigan is due out later this morning to cap off a very busy week for your money. let's bring in john lear from morning consult. credit suisse accepted a loan from the central bank. you have big banks in the u.s. who swooped into help first republic. crisis averted here? >> in the near term crisis is averted but there are longer term risks that scare me. and biggest issue shearhere is had a prolonged period of very low interest rates that drives financial institutions to search and seek for higher yield that drives riskier decisions. and i think in the u.s. we have haven't had the sort of regulatory environment and
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priorities that have kept some of the risk taking behaviors in check. >> remarkable that the bank rescue of first republic is from other banks. not the taxpayer or treasury or the fed, other banks moving to shore up a competitor. what does that mean? >> it is similar, there is some precedent. way back in 2008, they tried to have something similar to this for lehman brothers and that fell apart. but i think what it says and signifies is that financial stability is a public good that we all enjoy and big banks are some of the largest beneficiaries of public trust. we continue to see that by and large the american population trust the banking sector, they think that their deposits are safe. but it is something of course that the big banks have a vested interest in maintaining that confidence. >> and we heard from the treasury secretary that your money is safe, although she did say that above $250,000 at all
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institutions, you are not necessarily guaranteed. only at systemically important institutions. what should people be thinking about their money this morning? >> it was a little bit of a nuanced point that she made. and i think folks originally interpreted the statement made last sunday evening that all deposits were insured. what it turns out that the treasury and the fed and fdic will exercise some level of discretion in deciding which bank deposits are insured above that $250,000 mark. i think the near term risks are fairly low right now, but we do live in a world where we've got incredible digitalization, deposits are able to move very rapidly. some sort of triggering event could very well spark some additional run on the bank and i think we're in a position where bank regulation has not caught up with technology. >> it is hard to measure fear.
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sometimes fundamentals are one thing, but fear is something else in the banking world all together, so i think that is one of the reasons why you saw the big banks step in with all that money for first republic. john lear, nice to see you. have a great weekend. and next, putin and xi, the big meeting in moscow just announced. and something new from taylor swift. ♪ ♪ the one i've fallen for ♪ try boost glucose control®. it's clinically shown to help manage blood sugar levels and contains high quality p protein to help manage hunger and support muscle health. try boost® today. a ballet studio,o, an architecture firm... and homemade barbeque sauce. they're called 'small businesses.' but to the people who build them there's nothing 'all' about them. that's why at t-mobile fobusiness... you'll save more than ,000 versus verizon. and with price lock guarantee,
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our top of the morning this friday, top album downloads on itunes, here is number one --
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♪ thought you should know that all those prayers you thought you wasted on me ♪ >> that is a tribute to his mom. thought you should know from the album one thing at a time. number two -- ♪ ♪ pioneer by upchurch. and number three- ♪ ♪ just like a river ♪ >> miley cyrus with a new video from endless summer vacation. thanks for joining us. i'm christine romans. "cnn this morning" starts right now. good morning. everyone. poppy is off today. don and i are in new york. let's get started with the five things you need to know. st. patrick's day,

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