President Joe Biden called on Congress Friday to "swiftly" pass the COVID-19 Hate Crimes Act days after six Asian American women were killed in Georgia.
The bill, sponsored by Rep. Grace Meng (D-N.Y, District 6), would create a position at the Justice Department that would specifically deal with handling and reviewing hate crimes related to the pandemic. A recent study by the Center for the Study of Hate and Extremism at the California State University, San Bernardino, found that although hate crimes dropped overall in the U.S. in 2020, crimes against people of Asian descent jumped nearly 150 percent. If passed, the new law would also expand resources dedicated to stopping these crimes.
"It also means working with law enforcement, training law enforcement to communicate with Asian American communities, and helping those communities be able to report those crimes," Rep. Mark Takano (D- Calif. 41st District) told Cheddar.
President Joe Biden and Vice President Kamala Harris met with Asian American leaders in Atlanta on Friday, three days after eight people were killed at area spas, six of the victims being women of Asian descent. Biden urged Congress to pass the legislation so the federal government can offer aid.
Takano noted that Biden has already signed executive orders directing agencies to turn their attention to the rise of violence against the Asian American and Pacific Islander communities. He said it will take strong leadership to guide the country in the right direction, noting the rhetoric Americans have heard from former President Donald Trump.
"This has been a huge change in tone from the last president," he said.
Americans need "leadership that doesn't use words like 'kung flu' or 'China virus' to describe a pathogen that comes from nature and therefore leave a whole population of Asian Americans subject to being stigmatized and blamed for something that they're not responsible for," Takano added.
The congressman said former President Trump's language toward Asians was simply an attempt to "distract from his low, inadequate ways."
Though the California representative said it is often difficult to prove hate crimes in a courtroom, creating systems where individuals can safely and confidently report incidents could help improve chances for more favorable outcomes.
"Regardless of what the assailant said, the murderer said, and how the local sheriff characterized it," said Takano, "It very much looks to those of us in the Asian community and broader, that this was really an attack on people based on their descent, their Asian-ness. But the legal standard is a much different thing."
Daniel Madrzykowski, research director at the UL Fire Safety Research Institute, joins Cheddar News to discuss the deadly Bronx fire that killed 19 people and fire safety tips that people need to know about.
Markets closed the day mixed, and well off their lows of the day following a market meltdown earlier in the session. The Nasdaq staged a comeback late in the day, even amid ongoing worries about the Federal Reserve raising interest rates. Doug Flynn, certified financial planner and co-founder of Flynn Zito Capito, joined Cheddar News' Closing Bell to discuss the markets' close and what's driving the major indexes.
Two companies recently announced a new partnership aimed at addressing the growing demand to borrow against crypto - digital assets capital markets firm CrossTower is partnering with commercial bank, BankProv. The companies are launching a crypto lending platform that will allow Bitcoin miners to receive loans to invest in crypto mining equipment. The companies say the program also addresses the difficulty of breaking into crypto mining due to the high cost. CrossTower research analyst Martin Gaspar joins Cheddar News' Closing Bell to discuss.
Next-gen social sports platform Break the Love recently raised $2.5 million in seed funding. Break the Love's platform and iOS app allows users to discover and book group-based tennis activities, to either learn, train, or compete. The new company has already gotten support from a few big names in the world of tennis, including the coach of Naomi Osaka, as well as the United States Tennis Association and the brand Wilson. Break the Love founder and CEO Trisha Goyal joins Cheddar News' Closing Bell to discuss.
As the Omicron variant continues to sweep across the country. The US Supreme Court is expected to hear arguments at the end of this week on whether or not the Biden administration can force private companies to vaccinate or test millions of their employees. In addition, the National Nurses United has spearheaded legal action to protect nurses and health care workers, patients, and the public while on the job. President of the National Nurses Union, Zenei Cortez, joined Cheddar to discuss more.
China's ongoing crackdown of its own entertainment industry has been raising eyebrows for once now. With the ruling Communist Party instructing media companies to boycott immoral and overly entertaining stars. But the country has gone even further. Now experts warn that this could lead to further issues such as gender-based violence. Professor at the Institute of Sociology at National Tsinghua University, Hsiu-Hua Shen, and Associate Professor of Politics at Keough School of Global Affairs at the University of Notre Dame Joshua Eisenman, joined Cheddar to discuss more.
Today marks one year since the January 6 Attack on the United States Capitol. The Country watched as supporters of then-President Trump stormed what was assumed to be the most secure building in the country in an attempt to stop the certification of the 2020 Election. Several lawmakers, including the Vice President, could be seen ducking down as they feared for their lives. Democratic Michigan Representative Dan Kildee, joined Cheddar to discuss more.
Bed Bath & Beyond delivered disappointing fiscal third-quarter results for 2022. Shares initially dove more than 9% in premarket trading on the news but finished the day up nearly 8%. Bed Bath & Beyond has been a meme-stock target for online investors in the past -- so was meme-stock mania a factor in the recent stock movement for the company? Jaime Rogozinski, the founder of the subreddit WallStreetBets, joins Cheddar News' Closing Bell for more, as his forum helped spark the meme stock phenomena. He also discussed some decentralized finance services and trends for the retail investor to watch for in 2022.
Digital medical care provider Pear Therapeutics rang the closing bell on the Nasdaq Friday and President and CEO Dr. Corey McCann, joined Cheddar to talk about how the company plans to grow the business of software-based therapeutics and how the first FDA authorized prescription digital therapeutics company will go about treating illnesses like insomnia and addiction. "These really are pieces of software. In many cases, they're apps and in the cases of our addiction products, these are based on something called cognitive behavioral therapy or CBT," he said. "These products change the patient's brain circuitry to help them be abstinent, to help them stay in treatment, and that's exactly what we see in randomized clinical trials and that's what we see in the real world." He also addressed the ongoing mental health crises brought on by the pandemic. **copy updated to remove IPO information as Pear Therapeutics went public in December**
