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close video This is a crisis of faith, not a crisis of banking: Keith Fitz-Gerald

Fitz-Gerald Group principal Keith Fitz-Gerald says the bank coalition is not keeping the market afloat because many big traders believe there will be a bailout after the Dow responded negatively to collapses of Signature Bank and SVB.

The Oracle of Omaha has been in touch with Biden administration officials to lend his assistance during the current banking crisis.

Billionaire investor Warren Buffett has had multiple conversations with President Biden's team in recent days, according to Bloomberg.

 The calls have centered around Buffett possibly investing in the US regional banking sector in some way, but the billionaire 

Buffett has reportedly given advice and guidance about the crisis.

UBS CLOSING IN ON DEAL TO TAKE OVER STRUGGLING CREDIT SUISSE BANK: REPORT

Billionaire investor Warren Buffett (Daniel Zuchnik/WireImage / Getty Images)

Berkshire Hathaway's chief has a long history of stepping in to aid banks in crisis.

Among the companies Buffett has helped in the post are Bank of America and Goldman Sachs. 

Buffett gave Bank of America a cash injection in 2011 after its stock plunged amid losses tied to subprime mortgages. 

In 2008, Buffett gave Goldman a $5 billion lifeline to shore up the bank following Lehman Brothers' collapse.

BIG WEEK FOR MONEY MARKET FUNDS AMIDST FINANCIAL TURMOIL

FOX Business has reached out to Berkshire Hathaway for comment.

Close-up of sign with logo on facade at First Republic Bank branch in San Ramon, California. (Photo by Smith Collection/Gado/Getty Images) / Getty Images)

This past week, US regulators unveiled extraordinary measures to calm customers, promising to fully pay out uninsured deposits in the failed banks. 

Biden’s team created backstops that don’t require direct government spending from taxpayers, including the Federal Reserve’s actions. 

Big US banks voluntarily deposited $30 billion to stabilize First Republic Bank this week.

BANKING SYSTEM ON THE VERGE OF A 'BEAR STEARNS MOMENT': FORMER FDIC CHAIR

Customers in line outside Silicon Valley Bank headquarters in Santa Clara, California. (David Paul Morris/Bloomberg via Getty Images / Getty Images)

The crisis began when Silicon Valley Bank, the nation’s 17th largest, was shut down by the FDIC a week ago as regulators moved to protect customers as it faced a liquidity crunch following a $2 billion loss.

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It became the largest bank failure since the financial crisis. 

Federal regulators last Sunday, said New York-based Signature Bank was being shut down to protect consumers and the financial system following the collapse of SVB.

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LA wildfires: One daughter’s haunting account of her father’s fatal decision to stay in his home

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LA wildfires: One daughter's haunting account of her father's fatal decision to stay in his home

“He was asleep in his bed, where he still is right now, as I wait on the coroner.”

The haunting words of Kimiko Nickerson stopped us in our tracks.

Her father Rodney, 82, was sure the fire wouldn’t reach his home in Altadena. He was wrong.

The inferno cut through this quiet suburb north of Los Angeles at an alarming rate, its path unpredictable.

California wildfires latest – new evacuation order issued

She said: “He just didn’t want to evacuate. He’s been living here since 1968, and he’s been in Altadena my whole life.

“Like all of us on this block, in four blocks, he didn’t think it was going to be this devastating.

“It jumped whole streets, and it hit this community, but it didn’t touch the mountainside at all.”

They’re still trying to process the apocalyptic scenes here and grieving for those who did not get out.

Kimiko said: “I have no words to explain my feelings at this point in time.

“I’m just silent and numb and just mentally trying to go through the process.”

Rodney Nickerson decided not to leave his Altadena home.
Pic: Kimiko Nickerson
Image:
Rodney Nickerson decided not to leave his Altadena home.
Pic: Kimiko Nickerson

‘Truly apocalyptic scenes’ as flames swallow homes in LA wildfires evacuation zone

It would be impossible to exaggerate the scale of the destruction, cars burnt to a cinder, palm trees still alight, powerlines strewn across roads.

So many people have lost the roof over their head but there’s one thing Kimiko says she’ll never lose – her memories.

“Every laugh, every joke he told.

“He was a smart man. He read the LA Times from cover to cover and walked around the Rose Bowl every day.

“He was healthy, he was ambitious… but he went to sleep and died in his bed back there.”

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Donald Trump to be sentenced today over porn star hush money after Supreme Court rejects appeal

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Donald Trump to be sentenced today over porn star hush money after Supreme Court rejects appeal

The US Supreme Court has rejected a last-ditch attempt by Donald Trump to delay sentencing in the Stormy Daniels hush money case.

The president-elect was convicted on 34 counts last May in New York of falsifying business records relating to payments made to Ms Daniels before the 2016 presidential election.

Prosecutors claimed he had paid her $130,000 (£105,300) in hush money to not reveal details of what Ms Daniels said was a sexual relationship in 2006.

Mr Trump has denied any liaison with Ms Daniels or any wrongdoing.

By a majority, the Supreme Court found his sentencing would not be an insurmountable burden during the presidential transition since the presiding judge, Juan M Merchan, has indicated he will not give Mr Trump jail time, fines or probation.

Mr Trump’s attorneys argued that evidence used in the Manhattan trial violated last summer’s Supreme Court ruling giving Mr Trump broad immunity from prosecution over acts he took as president.

At the least, they said, the sentencing should be delayed while their appeals play out to avoid distracting Mr Trump during the presidential transition.

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Stormy Daniels. Pic: AP
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Stormy Daniels. Pic: AP

Mr Trump’s attorneys went to the justices after New York courts refused to postpone sentencing.

Judges in New York found that the convictions related to personal matters rather than Mr Trump’s official acts as president.

Mr Trump’s attorneys called the case politically motivated, and they said sentencing him now would be a “grave injustice” that threatens to disrupt the presidential transition as the Republican prepares to return to the White House.

Mr Trump has said he will appeal again: “I respect the court’s opinion – I think it was actually a very good opinion for us because you saw what they said, but they invited the appeal and the appeal is on the bigger issue. So, we’ll see how it works out,” he said at a dinner with Republican governors at his private club in Florida.

Because the New York case was a state, rather than federal crime, Mr Trump will not be able to pardon himself when he takes office on 20 January.

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LA fires: Paris Hilton and Billy Crystal’s homes burn down as more celebrities evacuated

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LA fires: Paris Hilton and Billy Crystal's homes burn down as more celebrities evacuated

Hollywood celebrities are among thousands of people who have been evacuated in Los Angeles, some fleeing homes now burned to the ground.

Paris Hilton and actor Billy Crystal have both lost their houses as fires rip through parts of California, including exclusive suburbs home to film stars and billionaires.

Oscar-winning songwriter Diane Warren, talk show host Ricki Lake, actor Cary Elwes, and reality stars Spencer Pratt and Heidi Montag have also confirmed their homes have been destroyed.

US media is reporting that Eugene Levy, and Adam Brody and Leighton Meester, have lost their homes. The stars are yet to confirm this.

Sky News’ US correspondent Martha Kelner reported that Tom Hanks, Ben Affleck and Reese Witherspoon were among those evacuated.

Follow latest: At least five killed as flames spread

The US flag flies as flames from the Palisades Fire engulf a structure during a windstorm on the west of Los Angeles. Pic: Reuters
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Pic: Reuters

Firefighters battle the Palisades fire as it burns during a windstorm on the west side of Los Angeles.
Pic: Reuters
Image:
Pic: Reuters

The California wildfires as of Thursday morning.
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The California wildfires as of Thursday morning.

The blaze in Pacific Palisades, a hillside area between Santa Monica and Malibu dotted with celebrity homes, is one of at least five raging in California.

Thousands of firefighters are trying to contain the flames, with a new fire breaking out overnight in the Hollywood Hills, threatening a host of tourist sites including the Walk Of Fame.

‘The loss is overwhelming’

Hilton said she was “heartbroken beyond words” to see her Malibu home, where she has brought up her young children Phoenix and London, “burn to the ground on live TV”.

In a post on social media, she said: “This home was where we built so many precious memories. It’s where Phoenix took his first steps and where we dreamed of building a lifetime of memories with London.

“While the loss is overwhelming, I’m holding onto gratitude that my family and pets are safe.”

Read more:
Why are there wildfires in January?

‘Truly apocalyptic scenes’ as flames swallow homes

In a joint statement, US actor Crystal, known for films including When Harry Met Sally and Analyze This, and his wife Janice confirmed their home of 46 years was gone.

“Words cannot describe the enormity of the devastation we are witnessing and experiencing,” the couple said.

They added: “We raised our children and grandchildren here. Every inch of our house was filled with love. Beautiful memories that can’t be taken away.”

Firefightesr battles the Palisades fire as it burns during a windstorm on the west side of Los Angeles.
Pic: Reuters
Image:
Pic: Reuters

The Hills stars Pratt and Montag documented the escalation of the fire at their home on Snapchat, with Pratt saying: “I’m watching our house burn down on the security cameras.”

His sister, Stephanie, who also starred in The Hills, as well as Made In Chelsea, told Sky News yesterday that she did not know if her own home was okay.

“I talked to my neighbour last night and she told me that [Palisades Charter High School] had burnt down, and that’s directly behind me, and so had Gelson’s Supermarket which is adjacent,” she said.

“I just can’t reach anyone to see if my house is okay. I just Googled it and it said that it’s destroyed and terrible… I don’t know if my house is there.”

Jamie Lee Curtis confirmed her home was safe but said “our beloved neighbourhood is gone” as she shared videos of the blaze on her Instagram.

Writer and actor Steve Guttenberg told Sky News he witnessed panic attacks and despair as he tried to help residents as the flames closed in.

The Police Academy star said: “There were mothers trying to find their kids.

“There were panic attacks. It was terrible. And that’s when the fires just lit up.”

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Guttenberg calls on national guard

Other celebrities who have fled their properties include the award-winning actor James Woods, who said he had been safely evacuated from his home in Pacific Palisades.

But he added in a post on X: “I do not know at this moment if our home is still standing.”

Actor Mark Hamill, best known for playing Luke Skywalker in the Star Wars films, also posted on social media on Wednesday saying he evacuated his home in Malibu and his family were “fleeing for our lives”.

This Is Us actress Mandy Moore was also forced to leave her home with her children and pets, saying on Instagram they had found temporary refuge with friends.

The actress said: “Trying to shield the kids from the immense sadness and worry I feel.

“Praying for everyone in our beautiful city. So gutted for the destruction and loss. Don’t know if our place made it.”

Mark Hamill and Mandy Moore. File Pics: Reuters
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Mark Hamill and Mandy Moore fled their homes. File Pics: Reuters

An awards ceremony planned for this weekend has been pushed back by two weeks, while the Oscar nominations next week have also been postponed.

According to Velvet Ropes, which maps celebrity properties, Matt Damon, Steven Spielberg, Hilary Swank and Sally Field all have homes close to where fires are raging.

Dr Dre, Tyra Banks, Martin Short, Anna Faris, Milo Ventimiglia, Linda Cardellini, Mary McDonnell, Adam Sandler, Miles Teller, and Jennifer Love Hewitt are also said to have houses in affected areas.

The Palisades Fire burns a Christmas tree inside a residence in the Pacific Palisades neighborhood. Pic: AP
Image:
Pic: AP

The skyline of Los Angeles covered with smoke due to wildfires raging in the area. Pic: Reuters
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The LA skyline cloaked in smoke. Pic: Reuters

In neighbouring Malibu, which was also affected by fires in December, stars including Beyonce and Jay-Z, Kim Kardashian, Lady Gaga and Billie Eilish are said to be among the celebrity residents.

The Palisades blaze has already burnt through nearly 16,000 acres of land, while the Eaton fire, covering over 10,000 acres, has caused the death of five people.

Three other fires, the Hurst fire, Lidia fire and Sunset fire, are all raging as emergency services battle to bring them under control.

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