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CNN International: Top U.S. Bank Regulator to Face Congress; Gwyneth Paltrow's Ski Accident Court Case Enters 2nd Week; Western- Made Tanks Begin Arriving in Ukraine. Aired 4:30-5a ET
Aired March 28, 2023 - 04:30 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[04:30:00]
CLARE SEBASTIAN, CNN CORRESPONDENT: He says that is as far back as in late 2021 the supervisors saw issues with the bank's risk management. They continue to engage with them throughout 2022. Interestingly just a few weeks before the collapse, Fed staff gave a presentation on interest rate risks on banks balance sheets specifically mentioned Silicon Valley Bank. But of course, no one really saw that the speed and the scale of that bank run coming on March 9th.
And then I think they're going to get into -- certainly, according to his prepared remarks -- the issues of regulation potential gaps in the regulation related to that rollback of Dodd Frank under President Trump. How that affected Silicon Valley Bank.
So, a lot of questions. We're also going to see questions on this side of the Atlantic. This hour, the governor of the Bank of England is going to face questions before a Treasury Committee on how they handled the collapse of Silicon Valley Bank in the U.K. So, both sides of the Atlantic, big questions.
FOSTER: Ultimately, they were seen as acting well -- they weren't they -- the way all the central banks did coordinate once they did accept that there was a problem, and they did sort of add confidence to the system.
SEBASTIAN: Yes, and I think the good news is that this is happening now, at a time when it seems like the initial panic has subsided, the markets are looking bright, banks coming back. And of course, Silicon Valley Bank and Signature Bank have now been sold, so that sort of issue has been wrapped up.
But I think this means that we can now get into the reckoning of what exactly was going on behind the scenes. How we got to this point and how to prevent it happening again. Because there are still vulnerabilities out there.
FOSTER: OK Clare, thank you very much indeed.
NOBILO: And in other financial news this hour, the U.S. government is going after the world's largest cryptocurrency exchange.
FOSTER: A federal regulator called the Commodity Futures Trading Commission is suing Binance. It accuses the firm of secretly coaching U.S. customers on how to evade U.S. compliance controls.
NOBILO: The action could end up costing Binance millions in U.S. business. The company called the lawsuit unexpected and disappointing.
FOSTER: The ride-hailing company Lyft is taking up its management structure. Cofounders are Logan Green and John Zimmer will step down from their positions and Amazon veteran David Risher will join Lyft as chief executive officer next month.
NOBILO: But both cofounders will remain on Lyft's board. The changes, the top come as the company has struggled to turn a profit. Lyft's stock price is down more than 13 percent so far this year.
FOSTER: Layoffs underway at the so called "House of Mouse." Disney will shed 7,000 jobs which amounts to about 3 percent of its global workforce. Three waves of cuts will take place from this week until the beginning of the summer. In a memo to staff obtained by CNN, Disney CEO Bob Iger called this a tough moment for the media giant. The layoffs are part of a multi billion-dollar cost cutting initiative aimed at streamlining the company's operations.
Actress Gwyneth Paltrow is back in court for a second week fighting an injury lawsuit. Ahead, her testimony from a man blaming her for that ski crash.
NOBILO: Also, Prince Harry makes a surprise court appearance in London. We'll have details on his legal fight against the tabloids. Coming up next.
[04:35:00]
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NOBILO: Welcome back to CNN NEWSROOM. I'm Bianca Nobilo.
FOSTER: I'm Max Foster. If you're just joining us, let me bring up to date with our top stories.
Authorities in Nashville, Tennessee are searching for a motive in the mass shooting that killed three children and three adults at a Christian school. Police say they found writings by the suspect, 28- year-old Audrey Hale. Police believe Hale obtained at least two of the weapons found at the shooting site legally.
And U.S. federal regulators will testify before the Senate Banking Committee today to try to explain why Silicon Valley Bank collapsed.
NOBILO: A blood curdling scream and then a boom. That's how man described the moment that he says actress Gwyneth Paltrow crashed into him on a ski slope in 2016. Terry Sanderson delivered that testimony in court on Monday, just days after Paltrow claimed the opposite that the man hit her on the slopes. CNN's Veronica Miracle has the details on the second week of the trial.
(BEGIN VIDEOTAPE) VERONICA MIRACLE, CNN CORRESPONDENT (voice-over): Actress and businesswoman Gwyneth Paltrow back in court for a civil trial as the man suing her over a 2016 skiing accident took the stand.
TERRY SANDERSON, SUING PALTROW FOR 2016 SKI ACCIDENT: Something I've never heard at the ski resort and that was a blood curdling scream. It was like somebody was out of control and going to hit a tree and was going to die.
MIRACLE (voice-over): Terry Sanderson insists Paltrow skied into him on a beginner ski slope at a Utah ski resort, causing him severe brain damage and other injuries. But Paltrow vehemently denies this. She's countersuing Sanderson and claims he crashed into her.
GWYNETH PALTROW, ACTRESS AND BUSINESSWOMAN: I said, you skied directly into my effing back. And I apologize for my bad language.
SANDERSON: I'm like living another life now. I can't ski anymore. I was told that if I did, and had another crash, that I could wind up full time -- full time in a nursing home.
MIRACLE (voice-over): Animations produced by Paltrow's legal team were shown to the court to illustrate where Paltrow family ski instructor Eric Christiansen alleged the parties were on the slope that day.
Christiansen who was with Paltrow's children at the time of the accident, testified about what he heard and saw.
ERIC CHRISTIANSEN, SKI INSTRUCTOR: At the first, he was apologizing. Then he also just made a statement about, she just appeared in front of me.
MIRACLE: Christiansen also denied Sanderson's accusation that he and Paltrow skied away without offering any assistance to Sanderson.
CHRISTIANSEN: The whole time, I'm removing skis and getting ready to help them up, I'm asking, are you OK? He was affirmative. He said yes.
MIRACLE (voice-over): Last week, Paltrow described the crash in an entirely different way, even recalling she had first thought she was being sexually assaulted.
PALTROW: I was skiing and two skis came between my skis, forcing my legs apart. And then there was a body pressing against me. And there was a very strange grunting noise. I thought, am I -- is this a practical joke? Is someone like doing something perverted? MIRACLE: Paltrow's husband and two kids were supposed to take the stand Monday, but this trial is running behind. In fact, the defense says they may not have enough time to get Paltrow's family on the stand.
Veronica Miracle CNN Park City, Utah.
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FOSTER: Taylor Swift fans went to court in Los Angeles to face off against Ticketmaster on Monday. They are alleging unlawful conduct during the chaotic rollout of online sales to Swift's Eras Tour.
NOBILO: Ticketmaster wants a motion to compel arbitration, meaning it will force the prosecution to settle the matter out of court. Fans say that Ticketmaster violated antitrust laws and are asking for at least $2,500 each in damages.
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CASSANDRA DIAMOND, TAYLOR SWIFT FAN: I saved up for months and months for the Era's Tour. We knew it was going to happen.
[04:40:00]
I had $500 saved and that should have been enough to buy me floor seats for what Taylor wanted to sell her tickets for. But unfortunately, like it -- Live nation stopped that and so it's wrong. We need to end the merger.
KILEY KRZYZEK, TAYLOR SWIFT FAN: I don't think that Live Nation and Ticketmaster should have been able to take mine. And I think that artists not having a choice with who they can sell tickets through is a major issue.
(END VIDEOTAPE)
FOSTER: Day to have a legal proceeding involving Prince Harry expected to get underway today. On Monday, the Duke of Sussex made a surprise court appearance in London for the start of the preliminary hearing. It'll will determine if an invasion of privacy lawsuit will go forward against a newspaper group. Prince Harry and other celebrities, including Elton John alleged that British tabloids planted listening devices, tapped phones and paid off police and attain confidential records of high profile figures.
The newspaper group argues the case should be dismissed because too much time has passed since the alleged actions.
NOBILO: Now you were at the High Court yesterday to watch some of this unfold. Why is it important for Prince Harry to be there in person in this case?
FOSTER: I think he just wanted to show support and up the level of it, and I also, you know, he's close to Elton John, the same as well. And he was seen in court all day reading, writing notes very engaged in it. It's a real mission of his to, I don't think to bring down the tabloids, but just get rid of a lot of these practices that, you know, were prevalent, weren't they?
NOBILO: And given that Prince Harry -- well, the Duke and Duchess of Sussex whose representation has taken a bit of a battering, especially since the release of his book "Spare." What impact do you think this is going to have on how people see him in this country, especially leading up to the coronation?
FOSTER: And while it's interesting, we're still wondering whether -- he hasn't confirmed whether or not he's coming to the coronation. I think a lot of people see some of the issues with the tabloids. But also tabloids is so ingrained in our culture, aren't they? And they read these papers. You know, I think there there's the irony isn't there? He's walking in front of the cameras and he deliberately did walk in front of the cameras yesterday at the main entrance into a privacy case.
NOBILO: Yes if you wanted to find irony you could. But depends on if you do.
Actor Jonathan Majors has been arraigned on multiple charges of assault and harassment, according to a New York district attorney. A woman claims that he hit her across the face with an open hand, causing a laceration behind her ear. She also says that he put a hand on her neck, causing bruising.
FOSTER: Majors has been released from jail on his own reconnaissance and given a limited order of protection. His attorney says the woman was written two statements recanting her allegations. They expect the charges to be dropped.
After months of waiting. Some of the first western made tanks are arriving in Ukraine. We have have the details for you just ahead.
[04:45:00]
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FOSTER: New satellite images and video from the ground appeared to show a large cemetery in southern Russia is growing, and it's filled with graves of pro-Russia Wagner military soldiers.
NOBILO: Row upon row of graves, all decorated with flowers sit beneath a Wagner flag in a village east of Crimea. Looking from above you can see just how many more graves appeared in recent months.
FOSTER: A visitor to the cemetery on Monday recorded this video. The woman speaking over it says very big cemetery, all graves are fresh, not an end in sight. Young and of all ages.
NOBILO: Meanwhile, Western made tanks promised to Ukraine have started to arrive in the country coming from the U.S., U.K., Germany and Portugal.
FOSTER: Ukraine's defense minister thanked the country's allies in a Facebook post writing, quote, this new equipment will keep good company with its brothers on the battlefield soon, thanks to our military, its benefits will be felt by the Russian occupiers.
NOBILO: CNN Salma Abdelaziz joins us now for more on this. Salma, we know that they're Leopard tanks, I think around 18 and the Challenger tanks are arriving or have arrived. What impact can this make on the battlefield in the immediate term.
SALMA ABDELAZIZ, CNN CORRESPONDENT: So, we have tanks arriving from the U.K., from Portugal, from Germany, from the United States. So far, it's still a small handful, just a fraction of what Ukraine is expecting and what Ukraine has asked for, but it comes at a very critical time in the conflict.
You have, of course, Ukrainian forces now on the back foot in Bakhmut, a very critical fight for them. Where both sides have been ramping up ahead of an expected Spring offensive. And we've seen how Ukrainian troops have really suffered. Being pushing back, trying to push back this Wagner assault -- assault by Wagner mercenaries on that city. So, a very critical juncture there and all along that eastern front line as we head into the spring of course. And there's an expectation that Moscow will have an uptick in its fighting.
And for Ukraine's defense minister to receive these, of course, it was a moment of celebration. It was a moment to congratulate and thank his allies. I want to read you a quote that gives you an indication of just how important these tanks are.
A year ago, no one could have imagined that the support of our partners would be so strong. That the entire civilized world would reboot and eventually resist the bloody aggressor. The country of Russia -- that's from Ukraine's defense minister. This year everything has changed. Ukraine has changed the world, the resilience of the Ukrainian people and the skill of our army convinced everyone that Ukraine will win.
The critical part about this is that portion from the quote where he says, a year ago you could not have imagined receiving these tanks. And that's really important to note here. Because it's not about the number of tanks they're receiving, or really the impact they're going to have on the ground. That's important and crucial, and we could begin to see a tiny impact. But it's really about the door that these tanks open. The willingness and the resolve of Western allies to continue to supply Ukraine and to supply Ukraine with weapons that they did not imagine supplying them with a year ago.
Remember thinks were off the table jets were off the table. A lot of offensive weapons were perceived to be offensive weapons were off the table. Now Ukraine very much feels that thing that allies have been repeating again and again that they are with them. That's what allies have been saying. That's what the U.S. has been saying that they are with Ukraine for as long as it takes whatever it takes.
NOBILO: Salma, thank you.
FOSTER: And still ahead, the NCAA women's basketball final four. I will tell you who punched their ticket and who's going home disappointed.
[04:50:00]
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FOSTER: Welcome back. A look at some stories trending this hour. Good social experiences can lead to better physical health. That's according to a new study published in the Journal of Society for Personality and Social Psychology. You never missed --
NOBILO: I think I should have figured that out. Do you think?
FOSTER: Yes.
NOBILO: Well, you've been a little bit grumpy this morning, so maybe help me healthier, grating into experiences.
FOSTER: It finds that having more positive experiences and social relationships is generally associated with better coping, lower stress levels and lower blood pressure. Should I carry-on?
NOBILO: Yes.
FOSTER: It also found that strong relationships tend to prioritize laughter, joy, excitement, courage, vulnerability, affirmation and the lack of judgment. I mean, it covers a lot.
NOBILO: I think you're very invested in that. But of course, we know this is true. The quality of life is the quality of our relationships, etcetera.
FOSTER: Yes.
NOBILO: Common sense, essentially.
FOSTER: Well, you're miserable if someone's annoying you. I mean, it's not exactly science.
NOBILO: The moon could be covered in water trapped inside tiny glass beads, according to a new study. Chinese scientists published their findings on Monday about how water is stored on the moon, and the theories could be groundbreaking.
FOSTER: It's always groundbreaking when we do a space story.
NOBILO: It is.
FOSTER: Experts believe these tiny beads were formed when asteroids crashed into the moon service, and they were infused with water after getting hit by solar winds, creating a deep reservoir of this precious resource.
NOBILO: Can you just explain that in simpler terms.
FOSTER: I'll read it back in a minute. If the science checks out, the knowledge could help astronauts harvest water on the moon if needed. There are so many caveats I can't quite believe it.
NOBILO: And one of the most talked about playmakers of the NFL off season is likely headed for a new team. Lamar Jackson tweeted that he asked the Baltimore Ravens for trade back on March 2nd.
[04:55:00]
FOSTER: The Ravens have been unable to come to terms on a long term contract though with their star quarterback. The 2019 league MVP, says his ultimate dream is to help the team win the Super Bowl. Not on his own there.
NOBILO: No, he certainly isn't.
FOSTER: March Madness now. You're not into this. Or are you?
NOBILO: Not particularly, I think I just haven't. I haven't watched it.
FOSTER: OK, well, the women's final four is set. Maybe that'll grab you. Number one seed Virginia Tech is going for the first time in their history. Their coach pay tribute to the entire team after they defeated number three Ohio State 84 to 74.
(BEGIN VIDEO CLIP)
KENNY BROOKS, VIRGINIA TECH WOMEN'S BASKETBALL COACH: We couldn't have gotten it done without each and every one of their efforts, their sacrifices. Everything that they've done for this program. They have sacrificed so much. They drowned out outside noise, inside noise, they let it fuel them in a very positive way. And it showed tonight.
(END VIDEO CLIP)
NOBILO: Undefeated number one seed South Carolina is heading to its third consecutive final four. They beat number two Maryland, 86 to 75 on Monday. South Carolina's next appointment -- opponent is number two seed Iowa on Friday, the same day that Virginia Tech plays LSU. And the winners of those semifinal games will meet with the national championship on the line.
FOSTER: Repeat.
NOBILO: No.
FOSTER: Well done for surviving your cough.
NOBILO: Oh, thank you so much. I feel the sympathy just flowing.
FOSTER: She's going to go and have a cup of what you drink hot lemon.
NOBILO: Not sure.
FOSTER: Thanks for joining us here on CNN NEWSROOM. I'm Max Foster.
And I'm Bianca Nobilo. And it will just be me alone tomorrow. I think because you're going off on assignment. EARLY START with Christine Romans is next on CNN.
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