The true cost of Dominion’s devastating Fox News bombshells

[Daily Kos Morning Roundup]( A morning roundup of worthy pundit and news reads, brought to you by Daily Kos. [Click here to read the full web version.]( - [The true cost of Dominion’s devastating Fox News bombshells]( The true cost of Dominion’s devastating Fox News bombshells, Katie S. Phang, MSNBC The result just might be a financial death penalty for the network. And some legal experts agree: Dominion doesn’t just have the upper hand, it has the truth on its side. If Dominion is successful, then all that would be left to determine is the amount of damages that Dominion is entitled to receive. That’s where the numbers become astronomical. Dominion is seeking $1.6 billion in lost profits and reputational harm. But it’s also seeking punitive damages, which are not capped under New York state law and could also be in the billions of dollars. Punitive damages are intended to punish the wrongdoer and to deter others from repeating that egregious conduct. And a multi-billion-dollar punitive damages verdict would not just punish Fox News. It would send a ringing message to all media companies to keep themselves in check and uphold the truth. - [Staring Down the Black Hole of Russia’s Future]( Staring Down the Black Hole of Russia’s Future, Anastasia Edel, Foreign Policy A Ukrainian victory may be the country’s only chance at long-term salvation. We used to live in a world where large-scale conventional wars that left thousands of dead and wounded existed only in video games and books. A world where mutually beneficial commercial activity was guaranteed by a global security order, to which the world’s leading nations adhered in exchange for membership in a shared civilization. A world trending irreversibly toward liberal democracy. Russia’s war of choice shattered these assumptions. In the heart of Europe, at least 18,000 civilians are dead, 14.5 million displaced, and thousands more tortured, mutilated, forcefully resettled. The trauma and misfortune Russia has wrought, unprovoked, on Ukraine is akin to those depicted in the tragedies of antiquity—advanced weapons such as drones and missiles notwithstanding. The barbarity of Russian warfare defies everything modernity stands for. When this war is over, though, there is still hope that Ukraine will take its place in a brighter and honorable future, earned through the heroism of its people. The same cannot be said for Russia, which now finds itself staring down the inevitable black hole of its future. - [2023 has gotten off to a rough financial start for Daily Kos. Our revenue is down and we need to lean more and more on our readers and activists to cover our expenses. Can you help by donating $3 right now?]( - [Russian advance stalls in Ukraine’s Bakhmut, think tank says]( Russian advance stalls in Ukraine’s Bakhmut, think tank says, Karl Ritter, AP News Russia’s advance seems to have stalled in Moscow’s campaign to capture the eastern Ukrainian city of Bakhmut, a leading think tank said in an assessment of the longest ground battle of the war. The Washington-based Institute for the Study of War said there were no confirmed advances by Russian forces in Bakhmut. Russian forces and units from the Kremlin-controlled paramilitary Wagner Group continued to launch ground attacks in the city, but there was no evidence that they were able to make any progress, ISW said late Saturday. - [A Glimpse of DeSantis in Iowa: Awkward, but Still Winning the Crowd]( A Glimpse of DeSantis in Iowa: Awkward, but Still Winning the Crowd, Michael C. Bender, The New York Times Gov. Ron DeSantis of Florida visited Iowa on Friday, providing a window into his still-untested skills as a retail politician. She smiled widely and pointed to her hoodie as she told the governor that her son attended college in his home state. Mr. DeSantis — dressed in a dark blue suit with a light blue, open-collar shirt and black boots — stood on the opposite side of 10 metal bike racks separating him from the crowd. He gave a slight nod to Ms. Barker and told her about his state’s new “grandparent waiver” that gives tuition breaks to out-of-state students whose grandparents are Florida residents. But Ms. Barker, a 50-year-old teacher who had driven about an hour to see the Florida governor in Davenport, does not have any other family in the Sunshine State, and she narrowed her eyes in confusion at his response. Here she was at an event promoting Mr. DeSantis’s new book, shoulder to shoulder with a crush of Iowans eager for face time with the anti-“woke” darling of right-wing America, and he was talking waivers. Mr. DeSantis quickly scribbled his name with a black Sharpie in her book and smiled. “Go Gators,” he told her as he moved on to the next person awaiting his signature. - [Unlike a certain tacky red hat, Daily Kos hats are made in the USA and union decorated. Click here to get yours now.]( - [3 Lessons From Silicon Valley Bank’s Failure]( 3 Lessons From Silicon Valley Bank’s Failure, Kevin Roose, The New York Times Here’s one takeaway: The bank’s extremely online clientele may have contributed to its downfall. Maybe that’s the only moral of the Silicon Valley Bank story — if you’re a bank, and many of your clients are tech start-ups whose funding ability is sensitive to rising interest rates, don’t invest their deposits in long-dated bonds that will lose value if interest rates rise. But I think we can draw a few other lessons from it. - [Why did Silicon Valley Bank collapse?]( Why did Silicon Valley Bank collapse?, Andrew Ross Sorkin, The New York times The failure of Silicon Valley Bank was caused by a run on the bank. The company was not, at least until clients started rushing for the exits, insolvent or even close to insolvent. But if the banking business is ultimately a confidence game, the game ended quickly… The bank and its advisers may have also made a tactical mistake: The General Atlantic equity investment could have been completed overnight, but the bank’s management also chose to sell convertible preferred stock, which couldn’t be sold until the next day. That left time for investors — and, more important, clients — to start scratching their heads and sow doubt about the firm, leading to an exodus of deposits. ICYMI: Popular stories from the past week you won't want to miss: - [Leave Tucker Carlson alone]( - [The Governator stuns with a 12-minute speech against fascism that’s a must-see]( - [Bakhmut holds, and Russia has more to worry about than just Ukraine]( Want even more Daily Kos? Check out our podcasts: - [The Brief: A one-hour weekly political conversation hosted by Markos Moulitsas and Kerry Eleveld]( - [The Downballot: Daily Kos' podcast devoted to downballot elections. New episodes every Thursday]( Want to write your own stories? [Log in]( or [sign up]( to post articles and comments on Daily Kos, the nation's largest progressive community. Follow Daily Kos on [Facebook](, [Twitter](, and [Instagram](. Thanks for all you do, The Daily Kos team Daily Kos Relies on Readers Like You We don't have billionaire backers like some right-wing media outlets. Half our revenue comes from readers like you, meaning we literally couldn't do this work without you. Can you chip in $5 right now to help Daily Kos keep fighting? [Chip in $5]( If you wish to donate by mail instead, please send a check to Daily Kos, PO Box 70036, Oakland, CA, 94612. Contributions to Daily Kos are not tax deductible. Sent via [ActionNetwork.org](. To update your email address, change your name or address, or to stop receiving emails from Daily Kos, please [click here](.