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Prospect Weekend Reads
Week of March 13th
Stories from the week you don't want to miss!
MARIAM ZUHAIB/AP PHOTO
Sen. Mike Crapo (R-ID) is seen at a Senate Finance Committee hearing on
March 7, 2023. Crapo was a principal sponsor of a bank deregulation bill
in 2018.
The Silicon Valley Bank Bailout Didn't Need to Happen
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Debate over the whether Silicon Valley Bank depositors should have been
protected should not distract us from the utter incompetence that led to
the bank's breakdown. Read David Dayen on the choices that led us to
this moment.
The Filthy Emissions of Railroad Locomotives-and the Rail Unions
Sounding the Alarm
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Diesel train emissions are deadly, but they have long gotten a pass from
regulators. Sarah Lazare reports on union-led efforts to clean up the
sector as part of our partnership with Workday Magazine.
Railroad Companies May Have Merged Before Railroad Merger Announced
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The Surface Transportation Board recently announced its approval of the
rail merger between Canadian Pacific Railway and Kansas City Southern.
As it turns out, corporate executives were already behaving as though
the deal had gone through. Luke Goldstein has the story.
Silicon Valley Congressman Fundraising With Whiny Venture Capitalist
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After advocating for bailing out Silicon Valley Bank, Rep. Ro Khanna,
who represents Silicon Valley, is still fundraising with venture
capitalists. Jarod Facundo asked him why.
The Economy Could Not Exist Without Government
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Tech elites were quick to gripe about government intervention when
business was booming, even though after Silicon Valley Bank's collapse
they begged for regulators to step in. But as Ryan Cooper argues,
Silicon Valley owes its existence to state power.
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