Get woke, go broke.

The SVB collapse marks the end of the Silicon Valley era: The Bay Area is no longer brimming with innovative startups and entrepreneurs.

The collapse of Silicon Valley Bank, the second largest in US history, is raising concerns about a “contagion” that could trigger a financial panic. As the 18th largest bank in the US, SVB’s bankruptcy may not prove an event on the scale of Lehman Brothers, but it may reflect something perhaps even more important: the decline of the Valley’s once vibrant entrepreneurial culture.

As a young reporter, I covered bank founder Roger Smith in 1983 when he came up with the idea of providing conventional financing to young, often venture-backed growth companies. In those days the big Wall Street financiers were largely clueless about technology, and the industry needed someone who understood their needs and ambitions. The now-retired Smith became a real player in the tech world, as well as in the Valley’s philanthropic scene.

Today’s Silicon Valley is not brimming as before with aggressive startups and the garage-based entrepreneurs who are the SVB’s bread and butter. Indeed, the magic that led firms and people to come to California is wearing off; Mike Malone, who has chronicled Silicon Valley over the past quarter-century, believes that this is because the Valley has lost its egalitarian ethos. The new masters of tech, he suggests, have shifted from “blue-collar kids to the children of privilege”. An intensely competitive industry, he adds, has become enamoured with the allure of “the sure thing” backed by massive capital. If there is a potential competitor they simply buy it. Innovation is therefore in short supply.

In this new oligarch-dominated Silicon Valley, there is less need for a unique bank like SVB because the entire eco-system that the bank depended on has diminished. It’s likely that the big financial institutions will now step in and pick off the strongest candidates in the start-up litter, generally those who can eventually be hived off to one of the giants.

The Valley is far from dead. It still retains an enormously deep field of technical talent and the professionals who service them. But its era of dominance is clearly ending as more companies expand or even move their headquarters elsewhere — something Hewlett Packard Enterprise, Oracle and Tesla have already done.

This “tech exodus” has, however, been underway for years; according to research by Ken Murphy, 13,000 companies left California between 2009-2016 alone. The pandemic-induced push to move work online only appears to have hastened this shift. With two out of three tech workers willing to leave the Bay Area if they could work remotely, Big Tech could readily spread talent and wealth to other states.

The Valley may remain top dog but, as unique institutions like Silicon Valley Bank disappear, there are more potential alphas lurking elsewhere in the kennel.

Here’s how progressive lawyers are using public nuisance lawsuits to outlaw guns
O.H. Skinner says public nuisance lawsuits are the next ‘Trojan horse’ for the progressive agenda

EXCLUSIVE – A consumer protection group is warning Republican governors against attempts by left-leaning lawyers to use public nuisance lawsuits as a backdoor way to outlaw guns.

The Alliance For Consumers (AFC), a nonprofit organization aimed at “ensuring consumer protection efforts, class action lawsuits, and attorney general enforcement actions benefit consumers,” sent a letter to all GOP governors Friday saying that since the many state legislatures have recently flipped to a Republican majority, they should be on the lookout for progressive activists attacking gun rights through these legal actions.

“With victories through the legislative process becoming harder to achieve, the progressive left is increasingly looking to an alliance of activists, officials, and trial lawyers to weaponize the judicial system against conservatives and impose key policy priorities by way of public nuisance lawsuits,” AFC president O.H. Skinner wrote.

“Under the guise of compensation for injuries to the overall public interest, these lawsuits open the door to courts imposing sweeping policy solutions outside the traditional governmental processes or otherwise reshaping the economy through massive money transfers,” Skinner added.

Public nuisance laws vary from state to state. Historically, they have been used to protect consumers and the public against things like polluted waterways or hazardous public spaces.

However, Skinner said “activists have found a way to use the court system as a weapon to force companies and consumers to comply with a progressive worldview without legislative oversight or public scrutiny.”

“If you hear someone say, ‘We should bring a nuisance case,’ that is a Trojan horse to accomplish something that you probably don’t agree with.” Skinner said in an interview with Fox News Digital.

Skinner claims that “the true goal of most nuisance suits over things like plastics, fossil fuels or firearms is seemingly to remove products and services from in the market that do not align with the progressive agenda.”

Skinner said that progressive trial lawyers will try to make the case that just as fossil fuels and plastics are bad for the environment that is shared by the public, guns can also cause public harm, and therefore, courts should curb their use because of this “public nuisance.”

Once example of this already taking place, Skinner noted, is a case from 2022 brought by a leading personal injury law firm – Napoli Shkolnik— that filed public nuisance suits on behalf of New York cities Buffalo and Rochester.

According to Skinner, that suit claimed that major American firearms manufacturers’ work to design, produce, market and sell has “created, contributed to, and maintained the public nuisance of unlawful possession, transportation and disposition of firearms, and the utilization of guns in the commission of an offense.”

“Activists have largely been able to hide the ideological aspects of public nuisance litigation,” Skinner said. “But make no mistake: public nuisance claims are about liberal control, not just about money, and certainly not about helping consumers.”

Montana Attorney General Austin Knudsen told Fox News Digital that while public nuisance laws “have their place” and are a “tool that needs to exist,” governors and state legislators should consider making changes to such laws so they are not abused.

I was told that the Biden Administration would return us to smooth diplomacy and happy allies. Saudi Arabia isn’t what I’d call a ‘good’ ally, but they can wind up being a very bad enemy. And SloJoe and his lackeys are just the ones to do that.

Saudi Arabia joins the new Axis of Evil.

The biggest story breaking on Friday was clearly the collapse of Silicon Valley Bank and the existential threat that may pose to America’s economy and possibly the global marketplace as well. But as the New York Post pointed out yesterday, the downfall of SVB may not carry the same long-term impact as another story that received far less attention. Friday was also the day that Saudi Arabia announced that it has restored its diplomatic ties with Iran. Making the announcement even more worrying is the fact that the deal was brokered by China. The possible upside to the story is that such an agreement may mark an end to (or at least a significant decrease in) the ongoing proxy war that the two nations have been fighting in Yemen. The obvious downside is that the Saudis will be pulled more closely into the Axis of Evil that has grown around China and Russia.

Seen from the long run, however, [the collapse of SVB] was probably not the most important event of the day.

The honor goes to the announcement that Saudi Arabia and Iran restored diplomatic relations.

Given their long proxy war in Yemen and fierce sectarian hatred, the sudden agreement (right) was stunning.

Even more so because China brokered it.

Foreign policy analysts immediately recognized the stunning announcement as yet another indicator of the Chinese Communist Party’s “ambition of offering an alternative to a US-led world order.” And Saudi Arabia is an impressive addition to that coalition indeed. Keep in mind that the Saudis are still tied with Russia as the second-largest producer of oil, pumping out 11% of the world’s supply. (America is still at number one – for now, anyway – with 20%.) They also control vast deposits of natural gas, iron, gold, and copper.

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New York lawmaker admits proposed ammo tax is meant as “disincentive” to gun ownership

Thank you very much to New York Assembly member Pat Fahy for saying the quiet part out loud when talking about her proposed tax on ammunition. The Albany Democrat wants to see anywhere from a 2-to-5-cent tax on each round of ammunition sold in the state (basically, the bigger the bullet the higher the tax), with the money going towards community-based violence intervention groups. We’ve seen similar schemes enacted to great fanfare (and little effect) in cities like Seattle, and lawmakers have even proposed this idea in New York before now, but rarely are lawmakers so explicit in their intention to tax people out of a right.

“So, if you buy 50 rounds, it’ll be just a couple of extra dollars,” said Fahy. “So, it’s not a huge tax, but another disincentive to arming up.”

If New York Democrats do end up adopting Fahy’s bill and turning into law, that statement is going to come in very handy during the inevitable court challenge that will ensue. The Supreme Court doesn’t look kindly on taxing the exercise of a constitutionally-protected right, especially when it is designed to chill the exercise of that right.

The Court took up this issue back in the 1940s, in a case called Murdock v. Pennsylvania. At issue was an ordinance imposed by the town of Jeannette, Pennsylvania that required “all persons canvassing for or soliciting within said Borough, orders for goods, paintings, pictures, wares, or merchandise of any kind” to obtain a license from town officials in addition to paying a fee for the privilege of doing so. When a group of Jehovah’s Witnesses were fined under the ordinance for selling religious tracts without acquiring the mandated license, they sued, and eventually the Supreme Court found in their favor.

In its decision, the Court declared:

“the First Amendment, which the Fourteenth makes applicable to the states, declares that ‘Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press . . .” It could hardly be denied that a tax laid specifically on the exercise of those freedoms would be unconstitutional. Yet the license tax imposed by this ordinance is, in substance, just that.…

A state may not impose a charge for the enjoyment of a right granted by the Federal Constitution. Thus, it may not exact a license tax for the privilege of carrying on interstate commerce although it may tax the property used in, or the income derived from, that commerce, so long as those taxes are not discriminatory.

Fahy’s proposed ammo tax isn’t a flat licensing tax like the ordinance in Jeannette, Pennsylvania, but thanks to her comment to the press there should be no doubt that the tax on every round of ammunition is designed to be discriminatory in nature against any and all New Yorkers who dare seek to exercise their right to keep and bear arms. When she talks about disincentivizing arming up, she’s really saying the bill disincentivizes the exercise of a constitutionally-protected right, and that’s a no-go according to SCOTUS.

An ammo tax is also a terrible idea from a policy perspective. Seattle, Washington imposed a tax on the sale of both firearms and ammunition back in 2015, and it’s brought in far less money for violence prevention programs than supporters had predicted. They were boasting of $500,000 in tax revenue every year, but in 2019 about $85,000 was collected from the handful of remaining gun stores inside the city limits. Many FFLs chose to simply relocate beyond Seattle’s borders, and many Seattle residents have chosen to buy their guns outside the city limits as well.

Seattle’s violent crime, meanwhile, has gotten exponentially worse. There were 24 murders in Seattle in 2015; far fewer than the  55 homicides reported in the city last year. Seattle’s gun and ammo tax hasn’t made the city a safer place, and Fahy’s proposal would be just as ineffective in New York. But as Fahy herself has made clear, her tax isn’t about preventing crime. It’s about preventing responsible New Yorkers from keeping and bearing arms for self-defense.

‘Rise Of The Fourth Reich’ Makes The Case For The Covid Reckoning America Desperately Needs

In ‘Rise of the Fourth Reich,’ Steve Deace and Daniel Horowitz argue for new Nuremburg-like trials to end Covid fascism once and for all.

Over the past three years, Americans have been continuously lied to by their government about nearly every aspect of the Covid-19 pandemic. From the unscientific lockdowns to the efficacy of natural immunity to the virus, no facet of the outbreak and its subsequent state-oriented response remained safe from manipulation.

In the name of power and control, politicians, bureaucrats, and public “health” officials destroyed the lives of many with their falsehoods. And despite the media calling for Covid “amnesty,” the fallout has left millions of normal Americans wondering: How can we hold these people accountable?

A newly released book may have the answer.

In “Rise of the Fourth Reich: Confronting Covid Fascism with a New Nuremberg Trial, So This Never Happens Again,” Blaze Media commentators Steve Deace and Daniel Horowitz make the case for why America needs new Nuremburg-like trials to ensure the biomedical tyranny inflicted upon the country during the Covid outbreak isn’t used to handle future pandemics. The amount of damage caused by such government policies, they say, is practically impossible to quantify.

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YOU HAVE THE RIGHT TO PROTECT YOURSELF’: OKLA. HOUSE PASSES 2 BILLS RELATING TO PROPERTY RIGHTS

OKLAHOMA CITY –

There are multiple protections in the state including “Stand Your Ground” and the “Castle Doctrine” allowing Oklahomans to use physical or deadly force, if it’s in self-defense.

A bill passing through the House Thursday expands part of the Castle Doctrine.

“It’s a simple bill, on your property if you feel that your life is threatened, you have the right to protect yourself,” said Rep. David Hardin, (R) Stillwell.

House Bill 2049 expands the definition of a dwelling- allowing people to use physical or deadly force against people trespassing anywhere on their private property, not just breaking into their actual house.

The previous law only applied to self-defense when a person broke into the actual home.

Democrats argue that this creates a vague law and opens more doors to problems.

“There are too many opportunities for accidental mishaps if we extend the Castle Doctrine,” said Rep. John Waldron (D) Tulsa.

Rep. Jay Steagle, (R) Yukon, argued that this is just a recognition of what should already be in the law.

“Suggesting that an individual has the right to be on someone else’s private property before any kind of action needs to be taken- even conversation is absolutely ridiculous,” said Rep. Steagle.

Many republicans say this bill is necessary for rural areas of the state.

“I live 30 minutes away from a maximum-security prison- I don’t have time to ask them what they’re doing there, I need to have the right to protect my property,” said Rep. Jim Grego, (R) Wilburton.

Democrats say property lines aren’t always clear, and that this can create problems for people who may be out hiking or hunting.

“Are you all familiar with somebody that’s been affected by being out in a rural area and death coming to you because you are out on someone else’s land,” questioned Rep. Goodwin.

With all the debate the author reminded house members the intent behind his bill was simple.

“This bill is never intended for you to walk out and shoot anyone you want on your property, this bill is intended for you to be able to protect yourself,” Rep. Hardin said.

March 13

1639 – 3 years after it is founded at Cambridge Massachusetts, by the donation of half his estate and all his library, Harvard College is named after clergyman John Harvard.

1741 – As part of the “War of Jenkins’ Ear”, between Britain and Spain, British forces attempt and fail to capture the port of Cartagena in modern Columbia.

1781 – Astronomer William Herschel, using a homemade telescope in the backyard of his home in Bath, England, discovers Uranus.

1845 – Felix Mendelssohn’s Violin Concerto premieres in Leipzig

1862 – The Act Prohibiting the Return of Slaves, prohibiting the military from returning escaped, or captured ‘contraband’ slaves, is passed by  Congress, effectively annulling the Fugitive Slave Act of 1850.

1930 – Astronomer Clyde W. Tombaugh, using photographs taken by the 13 inch Lowell Astrograph telescope at the Lowell Observatory in Flagstaff, Arizona, discovers Pluto.

1954 – The Battle of Điện Biên Phủ begins between French forces under Christian de Castries and Viet Minh forces under Võ Nguyên Giáp

1969 – The Apollo 9 mission ends when the command module Gumdrop returns the crew safely to Earth after they test the Lunar Module Spider in Earth orbit.

1979 – The New Jewel Movement, headed by Maurice Bishop, ousts the Prime Minister of the island of Grenada, Eric Gairy, in a coup d’état.

1996 – At Dunblane Primary School near Stirling, Scotland, Thomas Hamilton, using 4 handguns, kills 16 students, 1 teacher and wounds 15 others before killing himself.

2016 – Al-Qaeda in the Islamic Maghreb (AQIM) and al-Mourabitoun moslem terrorists attack a hotel in the Ivory Coast town of Grand-Bassam, killing 19 people and wounding 33 more before being killed themselves.
Kurdish Hawk terrorists detonate a VBIED on Atatürk Boulevard in Ankara, Turkey, killing 37 people and wounding 125 more.

2020 – In Louisville, Kentucky, Breonna Taylor is killed by return fire when police officers, with a ‘No Knock’ search warrant, forcibly enter her home and are fired on by her boyfriend who claims he believed they were burglars perpetrating a home invasion, since the officers never identified themselves

Why NYC crime policy-makers are now ignoring data

Last month, at the City University of New York, I lectured about how evolutions in data-led policing strategies helped New York City reduce annual murder numbers from 2,245 in 1990 to just 292 in 2017 — and from 93 annual fatal police shootings in 1971 to just 6 a half-century later. At the same time, city jail and New York State prison populations have also seen their numbers more than halved.

The “war on data” made its biggest inroads during the administration of former NYC Mayor Bill de Blasio, who prioritized feelings and emotions over cold, hard facts during debates about his landmark prison reform initiatives.

My presentation was layered with both data and descriptions of the tensions inherent in researching neighborhood crime dynamics. Following my talk, I invited students to discuss these notable statistical shifts. What I heard from those bold enough to actually speak floored me: They told me it was racist to use data to discuss policing. All the more so, because I’m a white woman.

The resulting policies saw New York develop a prison system-overhaul plan that — surprise! — was far too modest to house all of the city’s inmates.       I shouldn’t have been surprised. From outraged Gen-Zers to hardened politicians, deploying data — rather than relying on one’s own “lived experiences” — is now verboten when engaging with “triggering” topics such as race or human behavior.

Blame it on former Mayor Bill de Blasio for popularizing such feelings-based tactics. Over the course of his second term, he sufficiently flouted data and numbers to commit New York to replacing its beleaguered jail system with a new one far too modest to house all inmates.

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March 12

1912 – The Girl Guides (later renamed the Girl Scouts of the USA) are founded in the United States.

1928 – In California, the St. Francis Dam, in the San Francisquito Canyon of the Sierra Pelona Mountains, fails. The resulting floods killing 431 people.

1930 – Ben Kingsley, err Mahatma Gandhi begins the Salt March, a 200-mile march to the sea to protest the British monopoly on salt in India.

1933 – Franklin D. Roosevelt addresses the nation for the first time as President of the United States, the first of his “fireside chats”

1947 – During the beginning of the Cold War, President Truman announces his Truman Doctrine to Congress that “it must be the policy of the United States to support free peoples who are resisting attempted subjugation by armed minorities or by outside pressures.”

1989 – English computer scientist Sir Tim Berners-Lee submits his proposal to CERN, the European Organization for Nuclear Research, for an information management system, which subsequently develops into the World Wide Web.

1993 – North Korea announces that it will withdraw from the Treaty on the Non-Proliferation of Nuclear Weapons and refuses to allow inspectors access to its nuclear sites.

1999 – Former Warsaw Pact members the Czech Republic, Hungary and Poland join NATO.

2003 – The World Health Organization officially release a global warning of outbreaks of Severe Acute Respiratory Syndrome (SARS)

2009 – Financier Bernard Madoff pleads guilty to one of the largest frauds in Wall Street’s history.

2011 – A reactor at the Fukushima Daiichi Nuclear Power Plant explodes and releases radioactivity into the atmosphere a day after the 2011 Tōhoku earthquake and tsunami.

2014 – A gas explosion in the New York City neighborhood of East Harlem kills 8 and injures 70 others.

2020 – The United States suspends travel from Europe due to the SARS‑CoV‑2/COVID-19 pandemic.

HORRIBLE MEMES image memes at relatably.com

Opponents, Anti-Gunners Horrified as Constitutional Carry Looks Inevitable in Florida.

Whether it’s called constitutional carry, permitless carry or unlicensed concealed carry — which is probably the most accurate — the fact that soon millions of Floridians will no longer need a permission slip from the government to defend themselves has critics frothing at the mouth.

It’s going to happen, and there’s nothing they can do about it – that’s the bottom line.

They’re powerless to stop the massive restoration of our civil rights, regardless of how hard they whine or how absurd their prognostications of impending doom become. Florida Gov. Ron DeSantis has promised to sign the bill, and leaders in the House and Senate – where Republicans enjoy super-majorities – have promised to put a bill on his desk.

No one is taking the news harder than Frank Cerabino, a columnist for The Palm Beach Post who has enjoyed ridiculing guns, gun owners and civil rights for more than 30 years. As the bill progressed through the legislature, this angry little toad of a man has become positively deranged.

He’s lost what little sanity he once had, and that was never much. Cerabino’s March 7 column, which was titled “The ‘constitutional carry’ lie and why gun advocates don’t love the latest Florida bill,” shows just how toxic his pent-up why-won’t-they-listen-to-me! anger has become.

In his column, Cerabino describes constitutional carry as “political fiction,” and then he completely loses his damn mind.

“‘Constitutional carry’ is like ‘legitimate rape.’ It doesn’t exist,” he actually wrote.

No, Frank, nothing is like rape – nothing – and you should know that. To compare rape to anything is repugnant, morally wrong and massively offensive. It trivializes the horrors sexual assault survivors struggle to live with every single day. It defies belief that this disrespectful and hurtful comparison was actually published by a daily newspaper.

In another tangled line, Cerabino showcases his ignorance of the law, rifles and ballistics.

“Open carry would also allow them to walk around in public with weapons too big to conceal, such as military-style mass casualty weapons like the AR-15, which fires projectiles capable of liquifying body organs and passing through metal,” he wrote.

First, neither the House bill nor the Senate bill allows for the open carry of arms. That’s the problem many of us have with this legislation, and the reason it’s not accurate to call it constitutional carry. Therefore, no one will be walking around with a “military-style mass casualty weapon like the AR-15” in Florida unless they’re hunting, fishing or camping.

As to the AR-15’s magic liquifying abilities – nope. Sorry, Frank, but that’s pure bunk. The 5.56x45mm round was nothing more than a mediocre varmint cartridge until Eugene Stoner put it in his AR. In fact, many states prohibit hunters from using the round to harvest deer because it is too small. Compare the 5.56x45mm round to the two previous military calibers – 7.62x51mm and .30-06 – and you’ll learn the error of your ways, Frank.

Cerabino claims that after Gov. DeSantis signs an unlicensed concealed carry bill, we will want another – and we most certainly will. But his final comparison insults everyone who holds their right to keep and bear arms dear.

“This is what happens when you negotiate with terrorists. You give them one imaginary constitutional right and they’ll demand another,” Cerabino wrote.

Terrorists? Really?

I know more than a few heroes who left chunks of their bodies in foreign countries while fighting actual terrorists, Frank. They’re strong Second Amendment supporters who wouldn’t appreciate being your terrorist label. Also, they never raised their hand and swore to protect and defend any “imaginary” constitutional rights. The only terrorists involved in this fight are those using the First Amendment to encourage further infringements upon the Second.

Friendly fire

Nearly every state that successfully passed constitutional carry experienced some pushback from a small minority of firearms instructors during the legislative process. Unfortunately, Florida isn’t immune from this nonsense. One gun shop here was passing out leaflets titled: “Constitutional Carry (Maybe not such a good idea?)”

“Constitutional Carry (if passed) will allow any Florida resident of legal age, the ability to carry a firearm without any license or training,” the leaflet states. “Unfortunately, a lot of people will look at it as not having to pay for a Florida Concealed Carry class and save money. This is NOT what is good for the public, nor a responsible person.”

It was written by the gun shop’s training division, and signed “because we care.” I’m not naming the shop nor the owner. To his credit, he didn’t post his opinion online, nor did he run to the local media. Though misguided and wrong, his position is not difficult to understand. He’s worried that the end of the state’s mandatory training requirement will lead to a loss of revenue for him and his trainers. However, history shows us this is not always the case.

Many of the 25 states that passed constitutional carry experienced an increased demand for professional firearms training. Florida trainers will likely see the same uptick.

It’s about to become much easier to carry a defensive firearm in the Gunshine State. Gun owners will no longer need to beg permission from the state, pay a $97 fee, submit to background checks, mugshots and fingerprints like a common criminal in order to exercise a basic constitutional right. Most Floridians understand that carrying a defensive firearm is a heady responsibility, so of course they will seek out professional training, if they haven’t done so already.

Constitutional carry, unlicensed concealed carry or whatever else you want to call it will restore the constitutional rights of millions of Floridians. At the end of the day, that’s far more important than anyone’s financial concerns.

If there were, Bloomberg wouldn’t have to astroturf it

There Is No Firm, Sustained Support for Gun Control.

A frequent talking point in the gun control debate is that Americans overwhelmingly support “common sense” gun control measures, such as universal background checks and red flag laws. The Biden administration referenced these surveys last month, when it announced that $231 million will go to states that enact “red flag” laws and push gun control policies. These surveys are constantly invoked in legislative hearings and in the media. But surveys often compress complicated bills down to one-sentence summaries, and the results are often unreliable.

Gun control advocates claim that over 90% of Americans support universal background checks, which would require checks for privately exchanged firearms. Fact-checkers from Politifact and Snopes support these claims. When asked why Congress won’t pass a universal background check law, academics point to the lobbying power of the National Rifle Association.

But in 2016, despite billionaire Michael Bloomberg‘s overwhelming financial backing, ballot initiatives for universal background checks failed in Maine by 4% and won in Nevada by less than 1%. In both Maine and Nevada, the background check initiatives had far more financial support, and the media was overwhelmingly sympathetic to the cause.

If the surveys conducted by gun control advocates were accurate, these should have been easy wins. But surveys often ask very simple questions such as, “Do you support or oppose requiring background checks on all gun sales or transfers?” The actual laws in question, however, can run for dozens of pages and are far more complicated than one-sentence summaries imply.

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Visa, Mastercard pause decision to track gun shop purchases

NEW YORK (AP) — Visa and Mastercard paused their decision to start categorizing purchases at gun shops, a significant win for conservative groups and Second Amendment advocates who felt that tracking gun shop purchases would inadvertently discriminate against legal firearms purchases.

FILE - Assault weapons and hand guns are seen for sale at Capitol City Arms Supply, Jan. 16, 2013, in Springfield, Ill. Visa is pausing their decision to start categorizing purchases at gun shops, a significant win for conservative groups and 2nd Amendment advocates who felt that tracking gun shop purchases would inadvertently discriminate against legal firearms purchases. (AP Photo/Seth Perlman, File)

FILE – Assault weapons and hand guns are seen for sale at Capitol City Arms Supply, Jan. 16, 2013, in Springfield, Ill. Visa is pausing their decision to start categorizing purchases at gun shops, a significant win for conservative groups and 2nd Amendment advocates who felt that tracking gun shop purchases would inadvertently discriminate against legal firearms purchases. (AP Photo/Seth Perlman, File)© Provided by The Associated Press

The decision is, at the same time, also a defeat for gun control groups. There had been hope that categorizing credit and debit card purchases would allow authorities to potentially see red flags — like significant ammunition purchases — before a mass shooting could happen.

After Visa and Mastercard announced their plans to implement a separate merchant category code for gun shop purchases, the payment networks got significant pushback from the gun lobby as well as conservative politicians. A group of 24 GOP state attorneys general wrote a letter to the payment networks threatening legal action against Visa and Mastercard if they moved forward with their plan.

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If anyone has learned anything, it’s understanding that Cramer is a perfect reverse barometer

CNBC’s Jim Cramer eviscerated for touting Silicon Valley Bank weeks before disastrous collapse.

CNBC’s “Mad Money” host Jim Cramer is being shredded across social media after footage resurfaced of him urging viewers in February to invest in Silicon Valley Bank (SVB), which collapsed on Friday.

SVB had been the 16th largest bank in the United States and was connected to a number of Silicon Valley industries and startups. The closure of the bank was announced by the Federal Deposit Insurance Corporation (FDIC), making it the worst U.S. financial institution failure in nearly 15 years.

Upon the news of SVB’s collapse, a clip went viral of Cramer in February speaking positively about the bank in a list of “The Biggest Winners of 2023… So Far.”

“The ninth-best performer here today is SVB financial. Don’t yawn,” he told his viewers on Feb. 8. “This company is a merchant bank with a deposit base that Wall Street has been mistakenly concerned about!”

CNBC's Jim Cramer of "Mad Money" talking about Silicon Valley Bank.

CNBC’s Jim Cramer of “Mad Money” talking about Silicon Valley Bank.

SILICON VALLEY BANK SHUT DOWN BY REGULATORS

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