Legal & Political Analysis - Former Congressman George Santos's prison sentence was commuted by President Trump after serving just over two months of a 7-year sentence [1] - Santos was initially sentenced for charges including fraud, ID theft, and money laundering [1][3] - The commutation, unlike a pardon, shortens the sentence but does not erase the conviction [6][7][9] - President Trump stated Santos had the courage, conviction, and intelligence to always vote Republican [4] - The decision followed appeals for clemency from Santos's friends and allies, and a letter from Santos himself [2][3] - Commutations and pardons are often controversial and typically occur towards the end of a presidency [11][12] Executive Clemency - A commutation opens the prison cell doors to allow Santos out [7] - The president has broad power to issue pardons or commutations [8][9] - The president chose commutation instead of pardon [9]

Legal & Political - Former Rep George Santos's seven-year fraud sentence has been commuted by President Trump [1]

President Trump says he has commuted the sentence of disgraced former Rep. George Santos, who had been serving seven years for fraud https://t.co/DbfV6xNBjI ...

Now Baird called the drop quote excessive and upgraded Zions from a neutral to an outperform today saying the panic selling provides a great buying opportunity. Joining us now the analyst behind that call David George covers US banks at Baird. Uh David why are you confident that uh the worst hopefully or may be behind Zions.>> Well good afternoon Brian. I think from my perspective, it's important. Questions like these I think require a lot of context.And again, as you said, Zion yesterday lost over a billio ...

That was the CEO of Huntington Bank. He joined us last hour. A number of the regional bank stocks are bouncing back this morning.This after a lot of credit concerns, certainly heightened concerns yesterday put pressure on the group. Leslie Picker's following all of the moves. He joins us now.A bit of a rebound today, Leslie. >> Yeah, definitely rebound today, David. Uh thanks in large part to a slew of thirdarter reports that we saw this morning.They really assuaged concerns about some of these credit quali ...

Financial System Risk - Potential fraud cases are emerging with troubling frequency, raising concerns about contagion within the financial system [1] Market Sentiment - Fear within the financial system has been significant this week due to the potential fraud cases [1]

Fraudulent Spending & Misappropriation - Millions of dollars worth of fraudulent spending in California's homelessness fund were exposed [1] - At least $220 万 (2.2M) was diverted to pay for personal expenses [1] - Two criminal cases relate to real estate developers involved in misappropriating millions of state funds [2] Lack of Oversight - California state officials failed to provide meaningful oversight over the individuals who received most of these funds [1] Project Failure - The state agency paid $2600 万 (26M) for a fraudulent project where the developer did not complete construction [1]

Regional banks came under renewed scrutiny after Zions Bancorp said it would take a large loss and revealed accusations of fraud against a set of borrowers who had ties to other lenders in the industry https://t.co/kFRLZDeOjD ...

Josh Wander, the co-founder of Miami investment firm 777 Partners, was charged with conspiracy and fraud for allegedly cheating lenders and investors in the firm out of almost $500 million https://t.co/FLZoMJVBZV ...

Crooks impersonating party officials promise safety for cash https://t.co/GSdU7zFk01 ...