Tonight, tens of millions of Americans across the northeast are in the path of a powerful Nor’easter which is expected to bring heavy snow, strong winds and dangerous travel conditions and widespread power outages. Also tonight, a no found in the bathroom of a United flight, warning about a bomb onboard. But first, new questions about how one of America’s bigger banks failed, and what’s being done to avoid contagion even after a second bank collapsed last night. CBSN has learned that Silicon Valley Bank was operating without a Chief Risk Officer for months while the Fed tonight promising a swift review of the oversight of SVB. Fear also spreading from Wall Street to Main Street. Look at this, trading was halted on at least twenty regional banks after shares fell by as much as eighty percent. President B speaking this morning before Wall Street opened tried to urge calm but he also took aim at the T administration for rolling back Dodd-Frank banking safety requirements. And after his address to the nation, the president flew to San Diego.

The quick step taken by federal officials were designed to reassure Americans about the strength of the economy even in the wake of those two bank failures. The hope is that the collapse is contained and doesn’t set off a wider crisis. President B today calling for calm. The Federal government stepped in overnight, backstopping the failed bank in California and New York but worries persist that other smaller regional banks also could have similar issues. Several were battered in early trading today. Outside Silicon Valley Bank’s main branch today in Santa Clara, federal officials greeted bank customers lined up to get access to get their money.