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What is moral hazard (and why don't we care more)?

Published Mon, 23 Dec 2024 14:54:22 GMT

Moral hazard is a well-established economic concept that basically says if there are no consequences for bad corporate behavior, there's no incentive for companies to change their ways.That was the stink that followed the bailout of banks after the 2008 financial crisis. Once businesses become "too big to fail," they can pretty much do as they please, engaging in the same risky behavior.While the collapse of Silicon Valley and Signature banks is nowhere close to the severity of the earlier mess, it once again places us in the unfortunate position of the government stepping in to keep the peace and make depositors whole.It could be argued that this outcome was all but assured in 2018 after then-President Donald Trump signed into law a bipartisan bill deregulating financial firms. Trump called this "a great day for America."It wasn't.What the 2018 regulatory rollback did was relieve financial firms of much of the oversight imposed after the 2008 meltdown, including closer monitoring t...

NASA identifies asteroid that could hit Earth in 2046

Published Mon, 23 Dec 2024 14:54:22 GMT

NASA's Planetary Defense Coordination Office announced it has been tracking a new asteroid that could potentially hit Earth on Valentine's Day in 2046.Although NASA said there is a "very small chance" of impact, orbit analysts will continue to watch the asteroid named 2023 DW. "Often when new objects are first discovered, it takes several weeks of data to reduce the uncertainties and adequately predict their orbits years into the future," NASA's Asteroid Watch tweeted.NASA has given 2023 DW a 1 in 560 chance of hitting Earth on Feb. 14, 2046, and the European Space Agency (ESA) gave it a 1 in 625 chance, taking over the top spot on the ESA's "risk list" for near-Earth objects."The good news is there's only one chance in 500 or so that will actually hit the Earth. But the bad news is, we are sitting ducks, we are defenseless," Theoretical physicist and professor Michio Kaku, Ph.D., said. ."We have absolutely no way to deflect or blow up an asteroid with our name on it."Kaku explained...

Flood map: More flooding forecast for Bay Area, Central California rivers. See the risk near you

Published Mon, 23 Dec 2024 14:54:22 GMT

As residents along river banks brace for a new atmospheric river, forecasts show at least four rivers could reach moderate flood stage within the next three days.Alameda Creek at Niles, the Salinas River at Spreckels, the Big Sur River near Big Sur, and the Pacheco Creek at Dunneville are all at risk of some flooding early this week, with a new storm expected to roll in overnight into Tuesday. But most of the Bay Area’s major waterways, including the San Lorenzo River in Santa Cruz, are not expected to spill their banks.The new storm comes just a few days after a 74-year-old levee breached along the Pajaro River in Monterey County, causing widespread flooding in the town of Pajaro and forcing 2,000 people to evacuate.Are any of the forecasted river floods near you?Use the interactive map below to see the flood stage forecast for rivers near you. Click the plus sign to zoom in, and the minus sign to zoom out. Click the dots for relevant flood information.The Salinas River at Sp...

McConnell discharged from hospital after concussion

Published Mon, 23 Dec 2024 14:54:22 GMT

By Clare Foran and Manu Raju | CNNSenate Minority Leader Mitch McConnell has been discharged from the hospital after being treated for a concussion and a rib fracture, his office announced Monday.The Kentucky Republican tripped at a dinner event on Wednesday evening, his communications director said last week. McConnell had been admitted to a hospital and was being treated for a concussion, according to the statement at the time. He was expected, it said, to stay at the hospital “for a few days of observation and treatment.”He also suffered a rib fracture, according to a statement from his communications director on Monday.“Leader McConnell’s concussion recovery is proceeding well and the Leader was discharged from the hospital today. At the advice of his physician, the next step will be a period of physical therapy at an inpatient rehabilitation facility before he returns home,” David Popp said in the statement.He added, “Over the course of treat...

49ers quarterback contingency plan leads them to Sam Darnold

Published Mon, 23 Dec 2024 14:54:22 GMT

SANTA CLARA — Sam Darnold is the 49ers’ choice to fulfill their quarterback contingency plan, while Brock Purdy recovers from elbow surgery and Trey Lance comes back from a fractured ankle.This won’t be like Darnold’s entry to the NFL, when the New York Jets drafted him No. 3 overall out of USC to try resurrecting their franchise.This won’t be like Darnold’s last stop, when he got traded to the Carolina Panthers in 2021, got benched for Baker Mayfield before last season, and couldn’t reverse that team’s downward trend.Instead, Darnold is joining a 49ers franchise that’s reached the NFC Championship Game three of the past four years, including last season’s appearance that was torpedoed by Purdy’s torn elbow ligament and backup Josh Johnson’s concussion.Darnold agreed to a one-year deal, ESPN’s Adam Schefter first reported.As enamored as the 49ers remain with Purdy and Lance, they needed a seasoned veteran,...

Condominium sells for $1.8 million in Palo Alto

Published Mon, 23 Dec 2024 14:54:22 GMT

107 Emerson Street – Google Street ViewThe property located in the 100 block of Emerson Street in Palo Alto was sold on Feb. 24, 2023. The $1,800,000 purchase price works out to $1,087 per square foot. The condominium built in 1980 has an interior space of 1,656 square feet. The property features three bedrooms, two bathrooms, a garage, and three parking spaces. There’s also a pool in the backyard. The unit sits on a 1,722-square-foot lot.These nearby units have also recently changed hands:A 1,111-square-foot unit on the 100 block of Alma Street in Palo Alto sold in September 2022 for $1,000,000, a price per square foot of $900. The unit has 1 bedroom and 2 bathrooms.On Alma Street, Palo Alto, in December 2022, a 950-square-foot unit was sold for $1,021,000, a price per square foot of $1,075. The unit has 2 bedrooms and 2 bathrooms.In June 2022, a 1,056-square-foot unit on Everett Avenue in Palo Alto sold for $1,150,000, a price per square foot of $1,089. The unit has 2 bedrooms and...

Bay Area atmospheric river updates: Storm related highway closures impact South Bay

Published Mon, 23 Dec 2024 14:54:22 GMT

(KRON) -- Storm related highway closures are already in effect as another atmospheric river is set to move into the Bay Area Monday afternoon bringing potential flooding, damage and power outages. The rain will continue overnight Monday into Tuesday morning, KRON4 meteorologist John Shrable said.The National Weather Service also issued a High Wind Warning for the entire Bay Area effective Monday night through Wednesday morning. Peak gusts in the valleys are expected to reach between 40 and 50 miles per hour while coastal gusts are expected to reach between 55 to 70 miles per hour.Preparing your home or business for the next round of rain is crucial as the next storm approaches. Find sandbags near you and stay updated with KRON4.com.2:45 p.m. -- Latest on storm related highway closuresAn atmospheric river storm making its way into the Bay Area Monday night into Tuesday has already resulted in various highway closures due to road hazards on the highway.According to Caltrans, storm rel...

Two students arrested for knives on campus at same school where student was stabbed

Published Mon, 23 Dec 2024 14:54:22 GMT

SANTA ROSA, Calif. (KRON) -- Two students were found with knives on campus at Montgomery High School on Friday and both have since been arrested, according to the Santa Rosa Police Department. This comes less than two weeks after a student at Montgomery High School died after being stabbed by a classmate. Woman found on Sausalito shoreline identified Police first learned of the incident when they received a call from a parent on Friday who reported that the administration of MHS had sent a letter out to families. The parent told police that the letter stated two students were found to have knives on campus before they were sent home with their parents. Close Thanks for signing up! Watch for us in your inbox. Subscribe Now KRON4 Breaking News SIGN UP NOW When the parents were notified of the knive...

AAPI Community Groups Celebrate Women's History Month with"Our Time" Festival in SF Ferry Building

Published Mon, 23 Dec 2024 14:54:22 GMT

(KRON) -- It’s Women’s History month, and on Sunday, AAPI community organizers, leaders and entertainers came together to celebrate the contributions of Asian women.The free festival – called “Our Time” happened Sunday afternoon at the San Francisco Ferry building.Zeien Cheung, the co-founder of “Asians are Strong” joined Stephanie Lin live to share more.

Bills agree to sign OL McGovern; re-sign Martin, Matakevich

Published Mon, 23 Dec 2024 14:54:22 GMT

ORCHARD PARK, N.Y. (AP) — The Buffalo Bills reached an agreement to sign Dallas Cowboys guard Connor McGovern to a three-year contract, a person with direct knowledge of the deal told The Associated Press on Monday.The person spoke on the condition of anonymity because the deal does not become official until the NFL’s signing period opens on Wednesday. The agreement was first reported by NFL.com.McGovern was selected by the Cowboys in the third round of the 2019 draft, and had 29 starts in 45 games with the team over the past three years after spending his rookie season on injured reserve with a torn pectoral muscle. The 25-year-old addresses a pending need for Buffalo, with starting left guard Rodger Saffold and his backup, Bobby Hart, both pending unrestricted free agents. In other moves, the Bills announced reaching agreements to re-sign punter Sam Martin and linebacker Tyler Matakevich and backup defensive back Cam Lewis before they were eligible to hit the free agent market.Mar...