Note From Glenn Greenwald: The following is the full show transcript, for subscribers only, of a recent episode of our System Update program, broadcast live on Friday March 3, 2023. Watch the full episode on
Tonight, a Russian jet struck a U.S. spy drone over the Black Sea near Ukraine and knocked it out of the sky, a disturbingly direct military confrontation between, let us remember, the world's two largest nuclear-armed powers, once again, demonstrating the severe risks that the U.S. government is undertaking for some reason, all in order to continue to intervene in what Florida Governor Ron DeSantis this week called a “border dispute” between Russia and Ukraine. In just a few minutes, we'll examine this incident, the newly expressed views of Republican presidential candidates on Biden's ongoing war policies in Ukraine and the ongoing dangers from this seemingly endless conflict.
But first, the weekend decision by the Biden Treasury Department to take over and then guarantee the deposits of two failing midsize banks, the Silicon Valley Bank and Signature Bank, seems to have calmed the situation, at least for the moment. Last night, we interviewed the economics and antitrust analyst Matt Stoller, who laid out the case for why so many Americans feel a sense of indignation in watching what appears to be yet another episode where the world's richest people get richer and richer as they gamble and win, only to immediately call in the federal government run by the two parties they fund to intervene and use taxpayer dollars to save them from losses whenever their bets turn bad. Tonight, we will speak to Silicon Valley venture capitalist David Sachs, one of the most vocal advocates for U.S. government action to save depositors – and only depositors – about his rationale for why he believes the Biden administration acted correctly.
For now, welcome to a new episode of System Update starting right now.