Daily Briefing: Are recent bank failures giving Rhode Islanders flashbacks?

ALSO: Polls are now open to vote in the second round of The Providence Journal's brewery bracket. [eNewspaper]( | [Crosswords]( | [Horoscopes]( [Read in browser]( [Read in browser]( The Daily Briefing YOUR MORNING NEWS ROUNDUP Thu Mar 16 2023 Will Richmond | Managing Editor Communities & R.I. [@Will_Richmond]( Good morning, I'm Will Richmond at The Providence Journal and this is the Daily Briefing. The failure of Silicon Valley Bank and Signature Bank is probably giving a number of Rhode Islanders flashbacks. During the 20 years, I've been with my now-wife, I've heard a number of stories from her family about the experience of the credit unions closing forcing hardship on their business and personal finances. There are also stories about how friends pulled together to lend a hand during those times, making the pain a little more bearable and helping them to survive. The experience remains fresh for them. [Depco] Depositors demonstrate their anger during the Rhode Island banking crisis of the early '90s. journal files Signs read - "$undlun'$ depco party, equal payout to depositors THE PROVIDENCE JOURNAL For those not as familiar with the Rhode Island banking crises of the early 1990s, The Journal's Antonia Farzan put together a refresher of what happened, from the recollection of frustrated depositors hanging Gov. Bruce Sundlun in effigy to how the state recovered. Her piece also looks at the laws that were created following the collapse to hopefully protect Rhode Islanders from this happening again. For those who are familiar with what happened in R.I., if the recent bank issues didn't jog your memory Antonia's story and the photos pulled from The Journal's archives certainly will. [Always be in the know and skip the paywall with a subscription to The Providence Journal.]( WORTH A READ • A bill is currently in the Rhode Island State House to legalize psilocybin - sometimes known as magic mushrooms. [As R.I. considers that bill]( is rolling out a psilocybin framework as the nation watches.]( • Exercise weights in Massachusetts prisons could be permanently banned. [Here's why.]( • Round 2 voting has started in our Rhode Island's Favorite Brewery bracket. [Cast your votes here.]( [Today's Weather]( ☁ Mostly cloudy. Highs in the low-40s. TOP STORIES [NOAA to open marine research base in Newport]( [A proposed National Oceanographic and Atmospheric Administration base at Naval Station Newport]( The new NOAA operations center will replace a base in Virginia that coordinates U.S. ships sailing in the Atlantic at Great Lakes [READ MORE]( [An extension of the Blackstone River Bikeway could be in the works with use of this empty lot at 176 River St Woonsocket.]( [State sues Woonsocket for repeated sewage spills into Blackstone River]( The Attorney General's office and the Department of Environmental Management allege violations of environmental laws by the city's sewage plant. [READ MORE]( [The State House and Department of Transportation building both are adorned with the words "Providence Plantations". [The Providence Journal / David DelPoio]]( [What would an 'equity lens' look like for RI laws? What the bills say.]( Should every piece of legislation be looked at through a racial "equity lens"? [READ MORE]( [Providence's Bryce Hopkins (23) puts up the ball for a pair of points as Marquette's Kam Jones defends during overtime of an NCAA college basketball game, Tuesday, Dec. 20, 2022, in Providence, R.I. (AP Photo/Mark Stockwell)]( [Here are the 5 wins that got Providence into the NCAA tourney]( Home wins over Big East powerhouses played the biggest role in Providence reaching March Madness as a No. 11 seed [READ MORE]( Can you survive the madness? Free to enter! 5K to win! Get in on the action with USA TODAY Sports' men's and women's NCAA tournament survivor pools. [MAKE YOUR PICKS ➔]( [MAKE YOUR PICKS ➔]( Sign up for the news you want Exclusive newsletters are part of your subscription, don’t miss out! We’re always working to add benefits for subscribers like you. [SEE ALL NEWSLETTERS ➔]( [SEE ALL NEWSLETTERS ➔]( Follow Us Problem viewing email? [View in browser]( [Unsubscribe]( • [Manage Newsletters]( • [Terms of Service]( • [Privacy Policy/Your California Privacy Rights]( • [Privacy Notice]( • [Do Not Sell My Info/Cookie Policy]( • [Feedback](