becker? >> congressman, -- >> yes or no. >> i take ownership of the decisions that were made. >> yes or no, do you agree with the g.a.o.'s statement that it was poor governance and unsatisfactory risk management practices. >> congressman, i take responsibility for that. >> that is not an answer. >> mr. shay, do you disagree with your bank's failure had to do with the poor governance and unsatisfactory risk management practices? >> i can't speak for the regulators, i believe the reason for signatures closure was due to the extraordinary events that happened on that day. >> mr. roffler? same question. >> congressman, i don't believe the g.a.o. report spoke to first republic. >> well, to be clear, g.a.o.'s assessment clearly indicated that it was due to miss management of the two banks in particular. and i believe that that the bank fails due to misconduct and mismanagement, and executive should be held financially accountable. that is what the average person, the average worker, the average con

becker.i ran a business for a while. i will tell you, honestly, i am shocked at the complete negligence and disregard for the economic realities that this country was facing. under your leadership, svb made significant bets on interest rates falling when everything indicated exactly the opposite. i'm not an economist. i owned insurance agencies. anyone who paid close attention to the economy over the past two years could've plainly seen that the federal reserve was going to continue to increase interest rates. truth be told, i don't think you need to be an economist, insurance salesman, senator, to understand the direction, the trajectory, of the interest rate hikes that we were going to see. there was any jp morgan analysts who said that, svb was already in trouble. i remember a blogger, a financial blogger -- i think it was november of the previous year, came to the same conclusion that a portfolio risk was very high, and increasing. i hoped to hear your analysis on why you did not act on a

becker.i ran a business for a while. i will tell you, honestly, i am shocked at the complete negligence and disregard for the economic realities that this country was facing. under your leadership, svb made significant bets on interest rates falling when everything indicated exactly the opposite. i'm not an economist. i owned insurance agencies. anyone who paid close attention to the economy over the past two years could've plainly seen that the federal reserve was going to continue to increase interest rates. truth be told, i don't think you need to be an economist, insurance salesman, senator, to understand the direction, the trajectory, of the interest rate hikes that we were going to see. there was any jp morgan analysts who said that, svb was already in trouble. i remember a blogger, a financial blogger -- i think it was november of the previous year, came to the same conclusion that a portfolio risk was very high, and increasing. i hoped to hear your analysis on why you did not act on a

becker? >> i can't't comment on that because i don't know what the requirements would be in this structure. >> i don't think so and one depositor said on friday if you have a dollar of cash, i'm moving to a too big to fail bank. >> capital requirements now are strong and any change that might be considered should impact the consideration to regional and community banks and be careful >> i have some specific questions and if you could respot with brevity, mr. becker, codo you take any responsibility for the failure? >> i'm responsible for silicon valley bank. >> mr. rothler, do you take any responsibility for the silicon valley bank failure? >> as i said earlier, regardless reof what caused this, i take responsibility for clients and employees every day in making chew they're taking care of and supported. >> mr. shea, do you take any responsibility? >> as chairman, i feel i fulfilled my responsibilities responsibly. >> what's troubling about your responses and sitting here is the idea that you

becker? >> congressman, as ceo, i think you have to take responsibility for the ultimate outcome of every institution. >> as chairman of the board, i think i did a responsible role throughout unfulfilled my duties. >> sorry, just a second. do you accept the responsability for the failure or do you believe it was other management? >> i'm sorry that the bank was seized by the regulators. i thought we had a responsible plan over the next morning. >> so i take that is now? mr. roffler. >> mister chairman, this was an event that isn't foreseeable when it happens, and the contagion spread very quickly and panic is very hard to control. what i feel responsible for is for our colleagues, each and every day, and our clients even every day to make sure they are taking care of and supported during this time. >> so that also sounds like an oh, so congratulations mister becker, you are the only went to man up and actually take responsibility for that. so, i will start with you, and since i can't get the o

becker? >> is ceo you got to take responsibility for the ultimate outcome of your institution regrets appreciatee that. mr. shay? what is chairman of the board i think i had a responsible role throughoutth. this is second period do you the responsibility for the failure? i'm sorry that the bank was seized by the regulators. but we had to quit about your depositors are too. okay i take that as a no. mr. roffler? >> mr. chairman this is an event that's unforeseeable what happens. the contagion spread very quickly in panic is very hard to control. what i feel responsible for is for our colleagues each and every day and our clients each and every day to make sure they are taking care of and supported during this time the quickset also sounds like a nurse or congratulations mr. becker the owen to man up and take responsibility for that. so i will start with you. since i cannot get the other two toon actually admit to their own failings. i like to hear from you, what would you have done differently

becker in and had questions for him, and he deceived them. >> reporter: becker pled not guilty today but said little else. >> do you want to say anything? >> no comment. >> reporter: mayor gilmore says the grand jury reports and becker's case have been an ordeal. >> i think the damage has been done and we should be repairing now. and the fact that the -- that this is continuing and ongoing, i think all of this has to be settled for us to really start our healing process. >> reporter: the grand jury transcripts will be made public in the next ten days or so. legal analyst steven clark says that's becker's best shot. >> this is going to come down to a war of words. how precise was the district attorney's questioning? and did anthony becker leave himself any wiggle room on the stand? an innocent misconnection is not a crime. >> reporter: becker is scheduled to return here on august 2nd to set a date for his trial. if convicted, becker faces up to four years in prison. >>> we love these dogs sniffing out people with covid. a group in the east bay is training the dogs to pinpoint people w

becker? >> congressman, as ceo, i think you have to take responsibility for the ultimate outcome of every institution. >> as chairman of the board, i think i did a responsible role throughout unfulfilled my duties. >> sorry, just a second. do you accept the responsability for the failure or do you believe it was other management? >> i'm sorry that the bank was seized by the regulators. i thought we had a responsible plan over the next morning. >> so i take that is now? mr. roffler. >> mister chairman, this was an event that isn't foreseeable when it happens, and the contagion spread very quickly and panic is very hard to control. what i feel responsible for is for our colleagues, each and every day, and our clients even every day to make sure they are taking care of and supported during this time. >> so that also sounds like an oh, so congratulations mister becker, you are the only went to man up and actually take responsibility for that. so, i will start with you, and since i can't get the o

becker? >> yes, the unprecedented -- >> is that correct, mr. shea? >> yes or no. >> i believe it was caused by the run. >> mr., how do you agree, you think bank failure was caused by the run on your bank? >> that's correct. >> what do you think are the appropriate penalties that should be assessed against executives and board members whose bank actually failed? not due to a run on the bank? mr. becker? >> senator, i believe that answer the question is to be made by this committee and the regulators. >> if it's due to poor management, do you think there's any penalty that should be assessed by the board of directors? >> senator, i believe that decision rests with this committee. >> mr. shea, if it's due to poor management -- by its executives, do you think penalties should be assessed? >> that decision should be assessed by congress and policy makers. >> mr. how? >> legislation is being discussed now and i have no position on it. >> every bank with more than five billion in uninsured deposits

former ceo gregory becker says he's sorry about that. but he did tough left.enate banking committee wanted answers on what went so terribly wrong. becker and the former ceo of signature bank, which also collapsed, argued there were factors beyond their control, that the whole mess was unforeseeable becker referenced things like the speed of withdrawals made possible by smartphones. he also cast blame on regulators on the media. the result he got a bipartisan blast of scorn. >> there were a series of events. an president events that occurred. that led us to where we are today. not this was an unprecedented. this was bone deep. down to the marrow, stupid. you put all your eggs in one basket. this all comes back to the power of your industry from the rules and big banks, including yours, lobbying 2 weekend. to the impunity with which executives have been allowed to operate. the largest banks. >> the bottom line, senator said the banks took risks to boost their own short-term profits, putting their interests ahead of shareholders or deposit holders. they pointed o

becker.first line of the summary says, the interest rate risk simulation are not reliable, it says changes in net interest rate margin, income and earnings are inconsistent. simulation results giving false sense of safety and the rising rate environment. and it masked they need to take actions earlier in the rate cycle. this was sent to mr. becker on november 15 and memorializes conversation with mr. becker and other senior executives on november 14. >> thank you for it have a copy of that letter out asked to submit this for the record. puts without objection so ordered. >> can i ask you mr. barr, based on that analysis was that a cause for some individuals to run the bank? >> the cause ultimately of white individuals chose a run on the ballot seemed be related directly to insolvency. it was because of poor interest rate risk management outlined in the letter. >> isn't true for all regulars are concerned about a run on the bank is not correct or trying to prevent? nothing new other than socia

gregory becker was making his first public remarks since the bank collapsed in march. kron four's catherine heenan live in our newsroom with more catherine. well, when the santa clara based silicon valley bank collapsed, it did trigger a lot of turmoil in the industry today. former ceo gregory becker says he's sorry about that. >> but he did also deflect a lot of the blame members of the senate banking committee wanted answers on what went so wrong. bakker and the former ceo of signature bank, which also collapsed, argued there were factors beyond their congrol that the whole mass basically was unforeseeable. bakker reference things like the speed of withdrawals not made possible by smartphones. he cast blame on regulators on the media. the result he got a bipartisan blast of score. >> there were a series of events. unprecedented events that occurred. that led us to where we are today. not this was an unprecedented. this was bone deep down to the marrow, stupid. you put all your eggs in one basket. this all comes back to the power of your industry from the rules and bi

anthony becker was indicted by the da's office and now faces a felony. charges accused of lying to a criminal grand jury about leaking the report. the report details accusations the becker and other santa clara city council members have an ethically close relationships with the forty-niners front office. the report was set to be publicly released october 10th of last year. but the d a says becker leaked a confidential early copy days before that. all right. let's go back outside. take a look here. the bay bridge toll plaza a lot of people are. doing the same thing. yeah. big back up there. and of course, coach wants everybody in their seats. >> for game time, a lawrence is out of his seat. he says standing here. ready to report. yeah, our weather conditions. yeah. here we go, guys. i got some good news. bad news. okay. all right. let's go the bad news first. get it out of way. it keeps it just keeps rain and and it looks like we've got a chance of showers on and off in the next week. the good news is i think i finally see the end of the rain season. that

district attorney jeff rosen said that becker denied under oath that he leaked confidential grand jury report to the san francisco 40 niners days before it was scheduled to be released. the report was highly critical of the team's involvement in city politics. the grand jury was examining the close relationship between some members of the santa clara city council and the 49ers 11 from raised interest rates to fail. banks california lawmakers are warning that our country's economic problems could impact our state budget. we are going to be affected by national economic trends. we're going to be affected by decisions on interest rates were going to be affected by what congress does or does not do in terms of passing a debt limit extension, which we believe they should do promptly and do it cleanly and then address some of the other spending issues that have been brought up. state leaders were already bracing for a budget shortfall. that could be about $30 billion governor newsom is expected to roll out his final proposed version of the state budget next week, the legislature must pass a

becker was fully truthful with us as members of congress and this committee. it was very telling of how little he claim to know and that others knew, and that this was just bynd coincidence that this timeline, if you look at it, in the layperson can look at this and see this was set up in a way, again, for him to make millions, everybody to walk away while the financial system in our countryin is basically harmd as we can see with the two of the banks that failed. i know there's nothing they can do about it but i would really love for you all to respond directly to some of the testimony by becker. i think it's very telling how little he claims to know, and i really don't believe heo didn't know all of what was going down. >> gentlelady's time has expired. the gentlemandy from florida mr. donalds is now recognized for five minutes. >> thank you, mr. chairman. ms. harris, ms. hewlett, thanks so much for being here. ms. hewlett, going to start with you. everything i've been able to surmise from today's hearing is that there wasse a dual regulatr for svb, partridg

becker pledged to cooperate with regulators but declined to commit to returning the executive bonuses he received just hours before the bank collapsed. south carolina senator tim scott accused becker of a lack of judgment, saying he shouldn't have been running the bank words day on capitol hill. all right, let's move to the weather forecast. nice and warm. yes how long is this warm up going to last sandia? just today. hey i know it was a one and done deal. dan and amma. let's take a look at the warmth around the state as well. check out tahoe. it is 70 degrees right now, while we are seeing those nineties in the central valley and triple digits in southern california, the big concern is in the sierra. you go from 70 and tahoe that epic snowpack that's still with us as you look from our zephyr cove camera. and then you add to that heating over the next several days. it's going to be in the mid to upper seventies while it is sunny and warm. that's melting that snow pack, so that is concerning obviously central sierra snow lab said that at their location, 34% of the snowpack has melted i

but the da's office says becker leaked a copy days prior becker could face up to 4 years in county jail if convicted. he's due back in court in august. the lead defense attorney for bob lee's accused killer is now apologizing to the deceased cash app. founder's family. >> paula canny held a news conference tuesday in san francisco courthouse for a dozen bay area news reporters who are covering her client's appearance and when asked questions about a toxicology report released just hours earlier, why her client has still not entered a plea can be had this to say. >> a lot of drugs in bob lee system. i mean, bob lee system is like the walgreens of recreational drugs. >> the coroner's report showed several drugs, including cocaine and ketamine in his system. and tonight, camille, he's apologizing to lee's family for that comment among others saying, quote, i apologize for my remarks to the press following tuesday's court appearance, especially to bob lee's family friend and loved ones. i regret that. i characterize the autopsy, toxicology screen in such an insensitive and cavalier way. i w

becker could serve four years in county jail. becker did not respond to a request for comment. he is due back in court on august 2nd update tonight on a plane crash off the coast of half moon bay. the federal aviation administration says both people who were on that plane that was edited from santa rosa to hawaii had died there. viking air twin otter plane went down about 40 miles off the coast yesterday afternoon. the national transportation safety board says the plane crashed. after turning around over the pacific in a mayday was declared. there is no word yet about whether the victim's bodies or plane wreckage have been recovered. climate activists gathered right outside the chevron refinery in richmond today. the protesters say the company has caused environmental destruction not just in richmond. but globally. the demonstration comes in advance of chevron's annual shareholder meeting. how can we trust a group of people that have caused the issues caused the harm they have caused the violence? you know what drives in his profits. chevron is very environmentally conscious. t

>> but, the place director, jerry becker, did not believe it. imagine randy being responsible for jessie's death. >> did you pick up the phone and call randy when he was going through this? >> yes. he was saddened by all of this. >> how did that conversation leave you feeling? >> i was exceptionally confident by the end of that phone call that he was not involved in this in any way. >> and, when the detective got his hand on randy's phone records, he began thinking the same thing. did his phone records tell you anything of significance? >> no, he had been talking to her on the phone that we could see in this time period that we were looking at. and he hadn't been near the house. >> we hadn't eliminated him but we are looking at other options. >> so, working day and night, they went over the other leagues from jessie's parents. they interviewed the tree trimmers who might have been peering into jessie's window. >> there was nothing of significance found as far as the possible involvement. >> and, they tracked down the restaurant coworker jessie h

. >>> anthony becker pleaded not guilty to charges that he leake confidential documents to the 49ers. he was indicted last month on one count of felony perjury and a misdemeanor charg of leaking documents. he is accused of sharing a grand jury report that criticized council' relationship with the 49ers to spokesperson for the team and reporters at the silicon valley voice. >> he came in, swore to tell th truth and he lied. this advertise a crime. it's something that is serious. impart of a unit dedicated to public integrity, law enforcement integrity. we have put significant resources into investigating and prosecutors this case. >> becker faces four years in jail if convicted. he will be back in court in august. >>> for most here in the bay area, the warriors game against the los angeles lackers is top of mind. dubs are down one game at 6:00 they have the opportunity to tie up the serie before they travel to los angeles. >>> bart has a new inspector general. she will replace the previous inspector general. aside from managing and overseeing operations, she will conduct audits to prev

becker weight knowledge agent took responsibility. do you think it was mr. xi's fault or do you think was also your fault? >> primarily bank management failed toim put the -- mimic who is a bank management? >> mr. xi and his colleagues running the bank at the executive lever -- level and on the board and their areas we can improve as well. >> let me get to my next question and first commissioner hewlett i'm concerned without reform we make contingency bank deposits away frompo smaller bas into the nation's largest banks. commit to banks will probably acquire the bag -- backbone of our communities. during the pandemic for example they ensured they could get access to the paycheck protection plan for ppp and we had difficulties at first as you recall and then to come back like many of us on the side of the aisle to make sure we are dealing with small businesses so here's where i'm going to their 192 community banks in ohio. with a combined $134 billion in assets. almost 80% ofmo these banks have been in business for over 100 years and for comparison silicon va

becker was asked if he will keep it. he says he will comply with regulators if they seize the bonus is not offering it. he also denied that he acted on nonpublic information when he cashed up some of his stock options in the weeks before the bank collapse. ken and pam. >> thank you, catherine. the oakland a's are on the wrong side of history last night reaching a near record low and the number of people who showed up to their game. the a's hosting just over 2000 fans in their home opening series against the arizona diamondbacks. that is the smallest crowd recorded in oakland since september of 1979. when just over 1000 fans showed up as well as say that their beef doesn't lie with the team. but with the owners who already have a second mining agreement to purchase land for a new ballpark in las vegas. former a vendor how gordon, who's known as a hot dog guy at the coliseum, says he's not shocked by the low attendance. >> i want to support the fans, but i want to support the it's completely owns an surprising that so few

integrity, so we have put significant resources into investigating and prosecuting this case. >> becker faces four years in jail if convicted. he will be back in court in august. >>> moderate beaches under an advisory after bacteria was found in water samples. county health officials now asking people to avoid contact with ocean water until samples show the bacteria are at safe levels. high levels of that bacteria can increase potential risk of illness. health officials say rainfall can create high bacteria levels due to runoff and storm drains. >>> you probably think all the rain we have had lately would cut the wildfire risk, right? but cal fire says you might be surprised. it is running simulations that show that fires are burning hotter thanks to this new growth, and all the violent windstorms we have had have left plenty of extra fuel in the forest in the form of fallen trees. meanwhile, in southern california, firefighters stopped a brush fire that erupted last night. the blaze burned five acres near kabul creek drive. the cause is still under investigation. >>> as wildfire season

greg becker will try to explain why silicon valley bank failed. also expect a lot of tough questions about how much he was paid and the timing of some of his stock sales. >> in written testimony submitted ahead of time, becker will testify, quote, the takeover of svb by the government has been personally and professionally devastating, and i am truly sorry for how this has impacted employees, clients and shareholders. becker is expected to testify at the height of the bank run depositors withdrew $42 million a day, or roughly $1 million a minute. >> busy day on capitol hill. also testifying before a senate subcommittee, sam altman from open ai. he's not in trouble. he's there to educate senators about artificial intelligence. i'm sure he'll face tough questions. coming up on the "today" show, aaron ross sorkin will sit down with satya nadella. it's good for everyone, including lawmakers, to ask questions. senators can be behind the times, even more than their colleagues on the other side of the capitol, in the house they tend to be younger. you ma

becker was asked if he will keep it. he says he will comply with regulators if they seize the bonus is not offering it. he also denied that he acted on nonpublic information when he cashed up some of his stock options in the weeks before the bank collapse. ken and pam. >> and we've got some clouds outside right now. they are rolling along the coastline just inside the bay. how much more we see overnight tonight? we'll talk about that. the weather is coming up next. >> now at 8.30, and only fans model known for sculpting her body to try and look more like kim kardashian has died. that death happened after she received a cosmetic injection at a hotel room in burlingame, san mateo county district attorney's office says the woman responsible gave those injections illegally and it's now been extradited to the bay area from florida kron four's rob nesbitt talked to the da about the charges. christina ash ago, connie made a living off of looking like kim kardashian on only fans that same desire to look like a celebrity may have

we have put, you know, significant resources into investigating and prosecuting this case. >> so beckercharge. he'll be back in court in august. >>> the fda has approved the world's first vaccine to protec against rsv. the respiratory virus causes mild coldlike symptoms but can be serious for both infants and older adults. the new drug is designed to be given as a single shot to adult 60 and older. it could be available as soon as this fall. that's the look at your top stories. >>> looking at the bay area bea now. oakland mayor she think thousand is outraged after vide of a west oakland assault surfaced online and you may hav seen it yourself. the widely circumstance visited video was taken last weekend at the illegal side show. a man tried to stop the dangerous car show before he was beaten. and stomped on by a group of people we will not be showing that video here. oakland police trie to bust another over the weeken but was surrounded bid atvs before driving off. meanwhile, there's another high-profile jo vacancy in oakland. city is now looking for a nounier chief. chief reginald free

but the da's office alleges that becker leaked a confidential early copy days before that. 5 members of the proud boys were convicted of charges. just this morning following the attack on january 6th, 4 of them were convicted of seditious conspiracy, including their former leader andry kate to rio. the extremist group was convicted of the plot to attack the capitol in an attempt to keep former president trump in office. coming up on kron, 4 news at noon. a family's calls for justice in a 20 year-old cold case involving one of many missing and murdered indigenous people across our state. >> and lawmakers now shining a light on black health equity, their latest efforts to address health disparities in california. but for san francisco, pride making major changes to this year's festival roster. after one heavy metal frontman is controversial statement involving the transgender involving the transgender community. ♪ from the mountains to the coast... ♪ ♪ heatin' up the kitchen ♪ ♪ we got somethin different ♪ ♪ spreadin' good vibes all day ♪ ♪ todos a la mesa ♪ ♪ que buena la mezcla ♪ ♪ i

so we have put, you know, significant resources into investigating and prosecuting this case. >> becker faces four years in jail if convicted on the perjur charge and back in court in august. >>> the fda has approved the world's first vaccine to protec against rsv. the respiratory virus causes mild, coldlike symptoms but can be serious for both infants and older adults. the new drug is designed to be given as a single shot to adult 60 and older. it could be available as soon as this fall. that's the look at the top stories. >>> let's go the bay area beat now this morning. oakland mayor sheng thao is outraged after a video of a west oakland assault surfaced online. the widely circulated video was taken last weekend at sh. maied to stop th dangerous side show before he was beaten and stomped by a group of people. we have chosen to not show the video here. police tried to bust at over th weekend. but was surrounded before taking off. >>> as crime concerns in the city have gotten worse, andrea nakano spoke to one man who onc ran for mayor of oakland but no is thinking about packing up an le

south carolina senator tim scott accused becker of a lack of judgment, saying he should not have beenunning the bank. the federal reserve's report stated that with respect to both liquidity and interest rate risk, your management team was more focused on chasing profitability than stability. sounds like greed. senators also used the hearing to address executive pay and whether senior execs are being rewarded more for short term gains than for insuring their companies long term health, artificial intelligence has exploded this year with things like chatgpt and computer generated videos. but with that comes new risks. the more we see, the more we won't know what to trust. even google's former ceo and chairman is voicing concerns. when you produce a fake video, which is going to happen a lot in this next cycle of elections. even if you tell people that it's fake, even if they know before they watch it, it changes their behavior. for reasons we don't fully understand. and so this is a case where the industry needs to do a little self-reflection and the government needs to be a bit more ag

but the da's office alleges becker leaked a confidential early copy days before that.rnia attorney general is investigating, rather is opening an investigation into the nfl about possible workplace discrimination. rob bonta says his office along with the new york attorney general will look into allegations of a hostile work environment and pay inequality across the nfl today. both offices issue subpoenas to the league for information. in a statement, bonta says, quote, no company is too big or popular to avoid being held responsible for their actions. alongside workers and labor groups. vermont senator bernie sanders announced his latest push to raise the federal minimum wage. sanders now calling to raise the federal minimum wage over a five-year period to $17 an hour. but opponents say raising the wage will kill small businesses and spike inflation. meanwhile, texas senator john cornyn says because of different cost of living around the country, washington shouldn't even be involved, should be up to the states or >> negotiated item between employer and the last minimu

but the da's office alleges that becker leaked a copy in the days prior becker could face up to 4 yearsa costa county residents may finally get some answers about a toxic chemical released from the martinez refinery. the problem started months ago and officials are still trying to figure out the environmental damage that was done by that chemical release yesterday, a toxicologist hired by the county started collecting soil samples from more than a dozen sites. mostly areas neighboring that refinery in martinez and benicia. >> and once we review the data, we will be screening it. each has its own evaluation and looking at screening levels comparing comparing them to human health and ecological scream. also we're looking at all of protection. >> well, the collected samples will be sent to a laboratory. they're going to be analyzed for concentrations of metals, which could pose a risk to human health either by skin contact or inhalation or by eating produce grown in contaminated soil. drivers will soon have an easier route to get to your island and treasure island from san francisco, a new

we tried to get a comment about this from becker, but he did not respond.d get up to four years in jail. operations are back to normal after san francisco international airport was evacuated this weekend when an unidentified item was found ktvu valeo carol talked to passengers about the problems. this caused a sudden the t s. a started screaming breach, breach breach , and they put up signs to blockade. people going through security. burns and his family were set to leave sfo on a 1 p.m. flight back home to boston what they expected to be just an average travel day. was far from it. i travel a lot. i've never seen anything like it was pretty bizarre and a little scary, honestly, waiting in line saying , well, do we need a flea or what's happening year old daughter brooke was also scared . i've n kind of scary. many travelers had a similar experience like height. she was traveling from australia to vegas going on where we on terminal one. yeah and the staff says, like, go out go out. travelers including the burns family eventually did have to evac. okay wait

becker is facing two charges. if he is convicted, he could get up to four years in jail. vice president kamala harris is back in the bay area today to tell the administration's investment in semiconductor production is scheduled to fly from lax to moffett federal airfield and then visit the applied materials company in sunnyvale, applied materials manufacturers and provide services for semiconductors. the company is spending up to $4 billion on new research and development facilities by president harris will host a roundtable with local tech executives on the united states' ability to make more computer chips and rely less on other countries. time is not 406 san francisco has declared today harvey milk day and the celebration and the castro district will mark would would have been the 93rd birthday of harvey milk. the former city supervisor was one of the first openly gay elected officials. milk was assassinated in 1978 at san francisco city hall only one year after he took office as a supervisor. and harvey milk will be honored today by san francisco's famous wax museum.

greg becker and signature bank founder testify before a house financial services subcommittee live at 10:00 a.m. eastern on c-span 3, and online at c-span.

su: x svb ceo becker got worse perhaps of the criticism.wmakers had is how he sold $3.6 million of company stock with less than two weeks before the bank actually collapsed. he also, as mentioned, was pressured to give his $10 million a year in compensation back. he would not commit to doing that, though he said he will work with regulators to examine some of the money he received and perhaps look at giving some of it back would be the idea. haidi: the fed and ftse were also in the hot seat. su: regulators were right there. lawmakers really coming down on regulators on the lack of oversight. again, what were they doing that they did not see these banks starting to struggle and ultimately they'll. the fbi see chair, the national credit union administrator there testifying, and interestingly, the reports from the fed and fdic that had come out late last month said mismanagement was the root cause of the bank failures, but government officials acknowledged regulators bear a big part of the responsibility. haidi: su keenan with the latest. up n

becker from svb. >>> markets trying to wrestle with a bunch of different pots boiling.gotiations this afternoon home depot's revenue miss and the downward guidance. bunch of fed speak some of the macro data has been mixed. retail sales return to growth for the first time since january. fresh data on the tape which rick santelli has. hey, rick. >> yeah. business series for the month of march expected to be unchanged are down 0.1%. you know, inventories being down is a very rare negative month over month feature we now have two this year, both january and this read in march, down 0.1 didn't have any negative reads last year. we do see that interest rates are moving higher, but it isn't because of business inventories. national association of home builders, housing market index for may, is out and that may have some surprises and for that, let's head east to diana olick. >> rick, home builder confidence in the single family market rose 5 points to 50 in may on the nahb 50 is the line between positive and negative, so it's the first time the index has not been negative sinc

former svp chief greg becker blames the bank was my downfall on a social media rumours and mixed messagesorrowing costs from the us central bank. eu regulators have approved a microsoft $69 billion attempts to purchase call of duty publisher. the european commission said the microsoft had addressed their concern on competition issues. it comes three weeks after the uk blocked the deal over worries it would hurt competition in the emerging cloud business. david wattel has more. microsoft may be batting for a suite of office products but it's very keen to make its mark in the game market as well. it's five activision it would be a game changer if it comes to pass giving acquittals to compete with its main rival, sony. that would give it control of such globally popular titles as call of duty, world of warcraft and overlooked. what was to do is add them to its game pass surface, as egyptian offering perhaps better understood as like a netflix of the games market. microsoft regards the subscription model as the future of gaming and conclude it needs more heft in terms of the volume and calibr

i have been surprised about how strong greg becker has been at 20 the figure at the federal reserve forthis. a lot of 20 figures trying to refocus on the role of the executive -- pointing fingers and trying to refocus on the role of the executives. guy: people are pointing fingers in multiple directions. the problem is that some of the finger-pointing is accurate. mark: absolutely for some guy: a lot of responsibility lie in differents parts of the ecosystem. with the benefit of hindsight, wasn't it obvious that some of these banks were growing too fast to be sustainable? why weren't some of these red flags picked up earlier? we can point a finger at management, and yes, there were mistakes there, but surely the regulator, the manager of the ecosystem, should have understood the banks were growing too quickly and that is a red flag. mark: guy, you are absolutely right there. there is lots of blame to go around. even becker in his testimony and his remarks makes a great point, which is this inflationary environment, the fed and treasury and everybody was saying that inflation was going t

but becker also tried to kind of shift the blame here.inted to the role of social media fanning the rumor mill. he pointed to decisions made by lower level employees and also the federal reserve's interest rate hikes. lawmakers, though, republicans and democrats were not having it. they really slammed these bank ceos for bungling the job. ohio senator sherrod brown said that these banks were fatally mismanaged. republican senator john kennedy of louisiana, he told the silicon valley bank ceo that he made a, quote, really stupid bet that went bad. and the bank ceos were also questioned by lawmakers about the tens of millions of dollars in compensation that they made in the years before their banks blew up. they were questioned about whether or not they would give any of that compensation back given that these bank failures are costing the fdic insurance deposit fund billions of dollars. listen to this exchange between senator elizabeth warren and the ceo of silicon valley bank. >> how much of the 40 million are you planning return to? how

becker apologised what happened but did not seem to take any responsibility for the eventual collapse. in the former executives that were there were slammed for the millions of dollars they received compensation. they were asked if they had any intention of returning some of those funds. how much of the $40 million did you earn from loading up banks with this? are you planning to return to the fdic was yellow compensation, there's been a lot of talk about it long—term and short—term. i lot of talk about it long-term and short-term.— lot of talk about it long-term and short-term. i have a very simle and short-term. i have a very simple focus _ and short-term. i have a very simple focus taking _ and short-term. i have a very simple focus taking the - simple focus taking the question, how much are you going to return and i may times are going to do this dance? i will cooperate with the regulators stopped to look to return — regulators stopped to look to return a _ regulators stopped to look to return a single nickel? | regulators stopped to look to return a single nickel? i know there's

. >> reporter: sponsored by senator josh becker, the legislation would not only open the door for thousands of unhoused people to find long term shelter, but also make a significant dent in san francisco's ambitious promise of adding more than 80 new housing units by 2031. the bill seeks to fast track the permitting and building time in a city where it can take years to get approval to start digging. dignity moves, the nonprofit behind 33 goff, said they were able to get permits in just three weeks and the community up and running two two months later. each community has a bed and heater and they share bathrooms. the model is a great short term solution, but it's argued people deserve their own kitchens and bathrooms in order to be considered true housing. >> they should be temporary accommodations. so you don't want to make housing that doesn't have bathrooms or kitchens inside that's newly constructed. you don't want to consider that permanent housing. it's really a temporary shelter. so that doesn't get at any of our housing goals in san francisco. >> reporter: for aaron, it's a stepping

expect greg becker to face a lot of tough questions about how much he was paid and the timing of somek sales. in written testimony submitted ahead of time, becker will testify, quote, the takeover of svb by the government has been personally and professionally devastating, and i am truly sorry for how this has impacted svb's employees, clients and shareholders. >> it's going to be a busy day on capitol hill. also testifying before a senate subcommittee, open ai head sam altman. he is not in trouble. he's more there to educate senators about artificial intelligence. coming up on the "today" show, aaron ross sorkin will sit down with microsoft's satya nadella to talk about what kids and parents need to know about ai. you can watch that coming up at 7:00. really, it's good for everyone. teenagers, parents, lawmakers, to ask questions about ai. senators can somewhat be behind on the times as far as tech trends go. you may recall orrin hatch confused by facebook at a hearing in 2018. >> how do you sustain a business model in which users don't pay for your service? >> senator, we run ads. >

. >> reporter: sponsored by senator josh becker, the lex legislation would not only open the door for people to find long term shelter, but also make a dent in san francisco's ambitious promise of adding more than 80,000 housing units by 2031. dignity moves, the nonprofit behind 33 goff, says they were able to get permits in just three weeks and the community up and running two months later. each unit has a bed, heater, desk, and windows, and the community shares a kitchen and bathrooms. the coalition of homelessness says the model is a great short term solution, but argues people deserve their own kitchens and bathrooms to be considered true housing. >> these should be temporary accommodations. you don't want to make housing that is newly constructed and doesn't have kitchen or bathrooms inside. that's not permanent housing. that's really a temporary shelter. that doesn't really get at our housing goals in san francisco. >> reporter: for aaron it's a steppingstone that's bridging the gap between life on the street and what's to come. >> it's made life a lot easier for me to pretend i

bqe santa clara city council member anthony becker has, according to the chronicle, pled not guilty toker was charged in april with line to a santa clara county civil grand jury, district attorney jeff rosen said. becker denied under oath that he leaked a confidential grand jury report to the san francisco 40 niners days before it was set to be released. the report was highly critical of the team's involvement in city politics. the grand jury was examining the close relationship between some members of the santa clara city council and the 49ers. time is now for 39. there's a new housing facility in alameda counting dignity village. it's a two story 47 unit interim supportive housing project. we'll have shelter for people who are homeless. five of the units are set aside for homeless adults between the ages of 18 and 24. the village will contain common areas like dining rooms meeting rooms, private offices and storage space. this is so important for people who have been just fending for themselves on the street trying to figure out where will they sleep tonight? that's safe. where will

now, in the hot seat specifically so to speak, are former silicon valley bank ceo greg becker, formere bank of new york executives scott shea, the former chairman and eric howell, the former president. and much of the message so far has gone towards the unprecedented so to speak nature of how these banks ultimately collapsed. it was a combination of things like federal reserve interest rate policy being tightened at such a quick pace, all the way to the rush of many deposttors to withdraw their money in such a short period of time. aspects of social media are to blame for the runs on the banks. here is what he had to say in response to a question about just what exactly happened. take a listen. >> as we looked at liquidity overall, relative to the size of the bank we were, we certainly felt that we had ample liquidity and were able to even with the fastest bank run in history, 41 of the $42 billion deposit outflows that day, that thursday, were covered by svb. and we could have handled even more. it's the unprecedented event, the fastest bank run in history, from our standpoint that w

silicon valley former ceo gregory becker, blaming what he called an unprecedented bank run that coulddicted. but lawmakers point out that only happened after serious concerns about the bank's liquidity, which was apparently never addressed by federal regulators. the bank never fixed it. looks like you never even tried. we also found out banking regulators were utterly asleep. at the wheel. becker also getting heavy criticism for giving bonuses to top executives just hours after the bank collapsed and was taken over by the government planning to return a single nickel to what you cost the fun. senator i know there's going to be a process review of compensation. i'll take that as a no. meanwhile former signature ceo scott shay says his bank failed due to turbulence in the cryptocurrency market. he says the bank was overexposed, but at no time did it ignore any warnings from regulators, and he claims he was actually advocating for more regulation before the bank failed at all times i advocated for measured and different. and different regulation for banks. glad to hear you say that now b

liz: well, at a senate banking hearing today, silicon valley bank ceo greg becker pointed his fingerbout everybody but his leadership and his management team for the march collapse of svb and the ensuing regional bank crisis it triggered. listen. >> importantly, throughout 202e messaging from the federal reserve was that interest rates would remain low and that inflation that was starting to bubble up would only be transitory. >> there were a series of events, unprecedented events that occurred that lead us to where we are today. >> now this wasn't unprecedented. this was bone deep, down to the marrow. liz: we have some breaking news that we just want to interrupt for a moment. let's listen into the meeting, at least the start of it. they let cameras in for a second here for the debt ceiling discussion, and let's listen in for a moment and hear if anything was said before they really closed the door and find out what's going on. >> hello, folks. get a good picture of all of this. we're having a wonderful time. everything is going well. [laughter] anyway, i don't have any comment to m