US.

HERE'S WHAT WE ARE LOOKING AT.

FORMER OFFICIALS ACCUSED OF LOBBYING AGAINST MICHAEL MADIGAN SET TO GO TO TRIAL.

>> AMERICANS CAN REST ASSURED THAT OUR BANKING SYSTEM IS SAFE.

>> LOCAL BANK STOCKS PLUMMET AFTER BANKS COLLAPSE.

WHAT IT COULD MEAN FOR YOU AND YOUR FINANCES.

>> EVERYONE WORKING IN ILLINOIS CAN GET TIME OFF FOR ANY REASON.

>>> A NEW STATE LAW GIVES ALL WORKERS PAID LEAVE.

>> MAGIC IS ABOUT TRANSFORMATION AND LIFE IS ABOUT TRANSFORMATION.

>>> AND THE PHYSICIAN MAGICIAN DRAWING UPON HIS DAY JOB AS A DOCTOR FOR A MAGICAL NEW SHOW.

NOW TO PARIS FOR OUR TOP STORIES TONIGHT .

>>> THE TRIAL IS SET TO BEGIN TOMORROW, THESE OFFICIALS ARE ACCUSED OF SCHEMING TO BRIBE INDICTED FORMER ILLINOIS HOUSE SPEAKER MICHAEL MADIGAN.

MATT MASTERSON JOINS US NOW WITH MORE.

REMIND US THE CHARGES AGAINST THIS SO-CALLED COMMENT FOR HIM.

>> HE WAS CHARGED WITH BRIBERY CONSPIRACY AND FALSIFYING COMMENT BOOKS AND RECORDS AS PART OF HIS ALLEGED SCHEME TO TRY TO CORRUPTLY INFLUENCE MICHAEL MADIGAN IN ORDER TO PROMOTE STATE LEGISLATION THAT WOULD'VE BENEFITED THE UTILITY COMPANY.

THE DEFENDANT CLAIMS THEY DIDN'T DO ANYTHING WRONG.

>> THAT'S REALLY WHY THE PROSECUTORS ALLEGE THAT THIS CROSSED THE LINE BETWEEN LUMBERING -- LOBBYING AND BRIBERY.

>> THIS FORMER COMMENT CEO, AND X COMMENT LOBBYIST JOHN HOOKER.

AND LONGTIME MICHAEL MADIGAN CONFIDENT MICHAEL McLEAN.

PROSECUTORS SAY ALL THESE PEOPLE HAD A ROLE TO PLAY IN THIS SCHEME FUNNELING MONEY IN PARTS TO MADIGAN ALLIES TO TRY TO FALSIFY THESE RECORDS AND COVER EVERYTHING UP.

>> AS I UNDERSTAND THERE ARE 70 OR SO WITNESSES LINED UP ALREADY.

IS MIKE MADIGAN INCLUDED?

>> ALMOST CERTAINLY NOT.

THIS TRIAL CENTERS AROUND HIM AND HE'S OBVIOUSLY THE BIGGEST PART.

WHILE HE WON'T BE AT THE DEFENDANT'S TABLE HE HAS BEEN CHARGED SEPARATELY IN HIS OWN CASE WITH RACKETEERING AND BRIBERY.

THE TRIAL IS COMING UP NEXT YEAR SO THERE'S REALLY NO INCENTIVES TO TAKE THE WITNESS STAND.

>> THIS CASE IS ESSENTIALLY A PREVIEW FOR WHAT THAT CASE IS GOING TO BE.

CENTRAL TO THE EVIDENCE IN BOTH OF THESE CASES ARE WIRETAP RECORDINGS.

WILL THE PUBLIC HEAR ANY OF THOSE RECORDINGS?

>> IN THE COURTROOM THE JURY WILL HEAR THEM BUT AT THIS POINT NO ONE OUTSIDE THE COURTHOUSE WILL BE ALLOWED HERE THOSE RECORDINGS.

THE JUDGE HAS RULED THEY WILL NOT BE PUBLICIZED AND THEY COULD SENSATIONALIZE THIS TRIAL.

THIS GOES AGAINST PRACTICE IN A LOT OF FEDERAL CASES BUT, FOR NOW IT'S, THEY WON'T BE.

>> SO ONLY IF YOU ARE IN THE IMMEDIATE ROOM.

SO THEY'VE ALREADY ADMITTED TO THEIR PART IN THE CONSPIRACY.

WILL THE JURY HEAR ABOUT THAT AND THAT GOING TO BE A PART OF THE PROSECUTION'S CASE?

>> THEY ADMITTED THEIR GUILT AND PAID A $200 MILLION FINE AS PART OF THE DEFERRED PROSECUTION PLAN.

AS OF NOW THE JUDGE'S RULING THAT WILL NOT BE COMING INTO EVIDENCE THOUGH THAT COULD CHANGE.

FOR NOW THAT WILL NOT BE A PART OF THE CASE THOUGH JURORS WILL LIKELY HEAR TESTIMONY FROM AN ATTORNEY AS WELL AS ONE OF THE FORMER VICE PRESIDENTS WHO IS ALSO PLED GUILTY IN RELATION TO THIS.

>> ALL RIGHT, I KNOW YOU WILL BE WATCHING WITH INTRIGUE AS WE ALL DO.

YOU CAN READ MATT'S FULL STORY ON OUR WEBSITE AT WTTW.COM/NEWS .

>> THE ANNUAL TASTE OF CHICAGO USUALLY FALLS JUST AFTER THE FOURTH OF JULY BUT THIS YEAR IT MAY NOT HAPPEN UNTIL AFTER LABOR DAY.

WITH THE SUMMER CONCERTS IN THE NEW NASCAR DOWNTOWN STREET RACE , WILL CLOSE AT LEAST SOME OF GRANT PARK NEARLY EVERY DAY BETWEEN MAY 18th AND AUGUST 13th.

THE CITY SAID THE TASTE WILL POP UP IN THREE NEIGHBORHOOD VERSIONS OVER THE SUMMER, HUMBLE PARK IN JUNE, AND MARQUETTE PARK IN AUGUST.

THE GRANT PARK CASE WOULD BE PUT ON HOLD UNTIL THE WEEKEND AFTER LABOR DAY IF CITY COUNCIL APPROVES IT.

A PLAN TO MOVE 659 ASYLUM-SEEKERS FROM THE SUBURBS TO A SHUTTERED KMART IN THE CITY HAS OFFICIALLY BEEN SCRAPPED.

WE FIRST REPORTED LAST MONTH ON THE ILLINOIS DEPARTMENT OF HUMAN SERVICES PLAN TO MOVE MIGRANTS FROM SOUTH SUBURBAN HOTELS TO A TEMPORARY CONGREGATE HOUSING FACILITY THAT WAS TO HAVE BEEN SET UP AT A FORMER KMART ON 71st STREET.

REPRESENTATIVES PUSHED BACK SAYING THEY DIDN'T BELIEVE THE PLAN ACCOUNTED FOR THE SAFETY OF THE MIGRANTS.

IT'S UNCLEAR WHAT WILL HAPPEN TO THOSE PARTICULAR ASYLUM-SEEKERS NOW BUT A SOURCE CLOSE TO THE SITUATION SAID SOME OF THEM HAVE FOUND INDEPENDENT LIVING SITUATIONS WHILE OTHERS WILL CONTINUE TO STAY.

>> THE CHICAGO FIRE HAS FINALLY SCORED A DEAL FOR 26 ACRES OF LAND FOR ITS NEW PERFORMANCE AND TRAINING CENTER ON THE WEST SIDE.

THE DEAL HAS BEEN EXCLUSIVE CONTROVERSY FOR MONTHS AS THE SITE IS THE SITE OF A MASSIVE APL A HOME.

THE CITY SAYS UNDER THE DEAL, FIRE WILL FINANCE ITS 53,000 SQUARE-FOOT FACILITY AND PROVIDE AN $8 MILLION COMMUNITY ASSESSMENT PRESERVING NEARBY HOUSING.

IT'S EXPECTED TO GENERATE $40 MILLION IN REVENUE FOR OVER THE NEXT 40 YEARS.

CONSTRUCTION IS SET TO BEGIN LATER THIS SPRING.

GET READY TO WELCOME A BUNCH OF NEW FACES TO THE BEARS NEXT SEASON.

THEY WERE ACTIVE ON THE FIRST DAY OF FREE AGENT SIGNING REPORTEDLY COMMITTING MORE THAN $100 MILLION IN LONG-TERM MONEY FOR THREE VETERAN SIGNINGS.

NATE DAVIS FROM TENNESSEE, NATE EDMONDS AND T.J. EDWARDS, THIS COMES ON THE HEELS OF THE NUMBER ONE OVERALL PICK IN AND TRADED TO CAROLINA IN EXCHANGE FOR MULTIPLE JEFF -- DRAFT PICKS.

UP NEXT, FALLOUT FROM THE COLLAPSE OF SILICON VALLEY BANK.

A LOOK AT THE POTENTIAL IMPACT ON YOUR WALLET RIGHT AFTER THIS.

>>> PRESIDENT JOE BIDEN IS LOOKING TO QUELL FEARS OF THE BANKING SYSTEM TODAY ANNOUNCING THE FDIC WOULD INSURE ALL OF THE DEPARTMENTS DEPOSITS.

TODAY BIDEN SAYS HIS ADMINISTRATION HAD TO STEP IN.

>> THE DEPOSITS WILL BE THERE WHEN YOU NEED THEM.

SMALL BUSINESSES ACROSS THE COUNTRY THAT HAVE DEPOSITED IN THESE BANKS CAN BREATHE EASIER KNOWING THEY WILL BE ABLE TO PAY THEIR WORKERS AND THEIR BILLS.

HARD-WORKING EMPLOYEES CAN BREATHE EASIER AS WELL.

>> JOINING US TO BREAK THIS DOWN.

PROFESSOR OF ECONOMICS AT LOYOLA UNIVERSITY CHICAGO , AND FINANCIAL COLUMNIST TERRY SAVAGE.

WELCOME BACK TO CHICAGO TONIGHT.

REMIND US THE STEPS THAT LED TO THIS COLLAPSE AND, WHAT WAS UNIQUE ABOUT THIS BANKS BACKGROUND?

>> WHEN WE TALK ABOUT A RUN WE NEED TO KNOW, IT TAKES A SUBSTANTIAL AMOUNT OF DEPOSITORS TO GET PANICKED AND SIMULTANEOUSLY, ALTOGETHER GO AND TRY TO WITHDRAW THEIR DEPOSITS.

THIS HAPPENED BECAUSE THE BANK WAS HIGHLY SPECIALIZED WITH FIRMS RATHER THAN INDIVIDUALS.

SOMETHING LIKE 90% OF THE DEPOSITS, WAS NOT INSURED.

SO THEY WERE BY VENTURE CAPITALISTS WHO HAD EGG AMOUNTS.

IT SO HAPPENED THAT ON WEDNESDAY, A WEEK AGO, THE BANK NEEDED SOME CASH, AND TRIED TO SELL SOMETHING LIKE $20 BILLION OF THEIR BONDS.

BECAUSE THOSE BONDS HAD LOST A LITTLE BIT OF THEIR VALUE, THEY HAD SOME LOSSES.

SO THE MARKET REGISTERED THAT, ON THURSDAY THEY TRIED TO RAISE SOME CAPITAL, ABOUT 2 1/2 BILLION DOLLARS.

THEY WERE NOT SUCCESSFUL.

THESE TWO EVENTS TRIGGERED THE FACT THAT $40 BILLION WAS READY TO BE WITHDRAWN.

>> TERRY SAVAGE, A LOT OF ANALYSTS SAY IT'S HIGH INTEREST RATES AND INFLATION THAT WERE REALLY THE PRECURSORS TO THIS.

ARE THESE BROADER ECONOMIC FACTORS TO BLAME FOR WHAT HAPPENED HERE?

>> THE HIGH INTEREST RATES ARE.

ALL THE TIMES WE HAVEN'T REPORTED ABOUT FAILING BANKS, WHETHER IT WAS BACK IN THE 80s OR WHETHER IT WAS THE FINANCIAL CRISIS OF 2008, THEY MADE BAD LOANS AND HORRIBLE MORTGAGES TO PEOPLE WHO HAD NO MONEY.

THIS TIME THIS BANK DECIDED THEY WOULD TAKE DEPOSITORS MUTTER -- MONEY AND INVEST IN U.S. BONDS AND SECURITIES.

HERE'S WHAT WE ALL LEARNED.

LAST YEAR WHEN THE STOCK AND BOND MARKET WENT DOWN, WE LEARNED THAT BONDS GO DOWN NOT BECAUSE THEY ARE BAD BUT BECAUSE WHEN INTEREST RATES GO UP, BOND PRICES GO DOWN.

WHO WANTS A 10% 10 YEAR BOND WHEN YOU CAN GET A NEW 4% 10 YEAR BOND.

THE BANK WAS CHOCK-FULL OF THOSE LOW INTEREST RATES.

WHEN INTEREST RATES WENT UP, THE MARKET VALUE WENT DOWN, IT DIDN'T MATTER.

BUT ONCE THEY HAD TO SELL THEM TO GIVE THE DEPOSITORS THEIR MONEY BACK.

THEN THEY HAD TO SELL THEM AT A LOSS AND THAT'S WHAT CREATED THIS CRISIS.

SO YES, RAISING RATES SO FAST AND UNEXPECTEDLY FOR MANY, WAS REALLY WHAT WAS BEHIND THIS.

BUT THE WHOLE SYSTEM IS BRACED .

WHEN PEOPLE PULL THEIR MONEY OUT, THAT'S WHAT HAPPENS.

>> DOES THIS MEAN BANKS WITH SIMILAR EXPOSURE COULD RISK THE SAME OUTCOME?

OR IS THE FACT THAT THIS BANK DEALT WITH A SPECIFIC SORT OF GROUP OF CUSTOMERS IN SILICON VALLEY, TECH STARTUPS THAT , THAT COULD HAPPEN THERE?

>> THEY WERE PARTICULARLY VULNERABLE BECAUSE THEY HAD A HUGE AMOUNT OF UNINSURED DEPOSITS.

OVER THE WEEKEND WHICH WAS SUCH A TRICKY TIME, NO OTHER BANK WANTED TO STEP UP AND BUY THIS BANK.

THERE WAS A REALIZATION, THAT PANIC COULD SPREAD AND OTHER BANKS COULD BE VULNERABLE BECAUSE THEY ALL OWN GOVERNMENT BONDS AND THE BONDS HAVE A MARKET VALUE OF LESS.

SO THE FED STEPPED IN AND DID SOME VERY UNUSUAL THINGS.

THEY SAID WE WILL OPEN A SPECIAL WINDOW, ANY BANK AND GET THEIR MONEY AT THE BASE VALUE OF THE BONDS IF THEY NEED THEM.

AND THE FDIC SAID, DON'T WORRY ABOUT IT, WE ARE GOING TO BACK ALL OF THIS WITH OUR MONEY AND THE TAXPAYERS AREN'T GOING TO PAY FOR THIS.

BUT BETWEEN THE TREASURER AND THE FDIC, THEY CAME UP WITH A PLAN TO RESTORE CONFIDENCE AND TO DO IT THEY HAD TO ENSURE ALL OF THE AMOUNT.

EVEN OVER 250,000.

THAT WAS A BIG ANNOUNCEMENT AND WHAT QUELL THE PANIC TODAY.

>> SO THIS NOTION THAT THE FDIC IS GOING TO INSURE NOT JUST THE STANDARD 250,000 BUT ALL OF THE DEPOSITS, IS THAT THE RIGHT MOVE AND IS THERE WORRY THAT COULD CAUSE SOME MORAL HAZARD OR SLIPPERY SLOPE?

YOU DON'T WANT THEM DOING THIS FOR EVERY BANK.

>> IT IS THE RIGHT MOVE BECAUSE, THE MONEY HAS NOT DISAPPEARED.

THE BANK HAD THE PORTFOLIO OF 200 BILLION.

IT CONTINUES TO HAVE THE SAME BONDS, BUT IF THEY WERE TO SELL THEM, IT WOULD HAVE DROPPED QUITE SIGNIFICANTLY TO SAY HUNDRED AND 40.

WHEN THE FDIC COMES IN AND THEY HAVE 140 BILLION THEMSELVES FROM MONEY THEY'VE COLLECTED FOR MANY YEARS.

THEY WOULD SIMPLY HAVE TO CONTRIBUTE 20-30 BILLION BECAUSE THE REMAINING ASSETS CONTINUE TO BE GOOD.

LIKE TERRY MENTIONED THESE ARE GOVERNMENT BONDS, THE BEST THERE IS.

THEY SIMPLY DROP BECAUSE THIS BANK HAS BOUGHT THEM IN 2020 DURING THE YEARS OF COVID .

WHEN INTEREST RATES WENT FROM ZERO TO ALMOST 5 PERCENT LAST YEAR THEY LOST SOME VALUE.

>> TERRY IS THE SITUATION AN OPPORTUNITY TO LOOK AT REGULATIONS IN THE BANKING INDUSTRY?

DEBT TO ASSET RATIOS AND THINGS LIKE THAT?

>> WE HAVE A LOT OF REGULATIONS IN THE BANKING INDUSTRY.

THE BIG QUESTION BY THE FED, WHICH OVERSEES THAT PARTICULAR BANK, THEY WEREN'T AWARE THAT THEY HAD DEPOSITS THAT COULD MOVE IN AN INSTANT.

THEY HAD ASSETS THAT CAN BE SOLD BECAUSE RATES ARE UP AND THEY COULDN'T BE SOLD FOR THEIR FULL FACE VALUE.

A COUPLE YEARS AGO THERE WAS A MOVE TO LOOSEN SOME REGULATIONS BECAUSE THE BURDEN WHICH WAS SUPPOSED TO GUARANTEE SAFETY, WAS SO EXPENSIVE HER COMMUNITY AND REGIONAL BANKS.

THEY SAID, IF YOU ARE A SMALLER BANK YOU DON'T HAVE TO GO THROUGH SOME OF THESE PROCEDURES.

SO IT'S A FINE BALANCE BETWEEN BANKING REGULATION , AND THE COST OF REGULATION.

WE THROW IN THIS WILD CARD OF THE FED RAISING RATES.

THE BIG QUESTION NOW IS, THE FED IS CREATING MONEY LITERALLY TO GIVE TO THE BANKING SYSTEM, IN ADDITION TO THE FDIC, AT THE FED IS REALLY OPENING THIS WINDOW.

AT THE SAME TIME THE FED SAYS, WE ARE FIGHTING INFLATION.

EVERYONE THOUGHT THEY WOULD RAISE INTEREST RATES BY 50 MORE BASIS POINTS BUT NOW THE QUESTION IS, WILL THE FED RAISE RATES KNOWING THAT EVERYBODY IS LOOKING AT THE BANKS AND WHAT THEIR BALANCE SHEETS LOOK LIKE CARS -- BECAUSE WHEN RATES GO UP, IT LOWERS THE VALUE OF YOUR BONDS.

YOU CAN HOLD AND IT WILL BE GOOD BUT RIGHT NOW THE VALUE GOES DOWN.

>> SO MAYBE THEY ARE FORCING THE FED TO RETHINK THAT.

FOR FOLKS IN CHICAGO WORRIED ABOUT REGIONAL OR LOCAL BANKS HERE, HOW WELL-POSITIONED ARE THESE BANKS?

>> I BELIEVE WE SHOULD NOT REALLY WORRY BECAUSE THE BANKING SYSTEM AT LARGE IS VERY STABLE.

WHAT HAPPENED IN THIS PARTICULAR BANK WAS SIMPLY BECAUSE 20% OF THEIR CLIENTS, THE DEPOSITORS, WENT THERE AND SAID I NEED MY MONEY.

IF WE DON'T PANIC EVERYTHING WILL BE FINE.

>> THAT TENDS TO BE THE CASE IN A LOT OF THESE FAILURES.

THANK YOU BOTH FOR JOINING US.

>>> UP NEXT, WHAT A NEW STATE LAW ON PAID LEAVE MEANS TO YOU BUT FIRST A LOOK AT THE WEATHER.

>>> ILLINOIS IS NOW THE THIRD STATE IN THE COUNTRY TO REQUIRE PAID TIME OFF FOR EMPLOYEES.

WHAT IS THIS POLICY DUE?

>> ONCE IT TAKES EFFECT THE STATE ESTIMATES IT WILL COVER SOME 1.5 MILLION WORKERS.

WORKERS WHO CURRENTLY HAVE TO MAKE HARD CHOICES ACCORDING TO ADVOCATES.

>> CAN YOU IMAGINE PEOPLE IN THIS STATE CANNOT TAKE A SICK DAY WITHOUT BEING PENALIZED FOR LOSING THEIR PAY?

NOW LET'S THINK ABOUT THAT FOR JUST A SECOND.

IMAGINE YOU ARE CHALLENGED WITH THE FLU, OR EVEN .

YOU ARE ONE OF THESE PEOPLE.

YOU HAVE TO CONSIDER, SHOULD I LEAVE MY CHILD HOME ALONE OR RISK LOSING MY JOB.

>> ILLINOIS LIEUTENANT GOVERNOR SAID SHE SERVED AS HER MOM'S CARETAKER WHEN HER MOM WAS SUFFERING FROM DEMENTIA.

THANKFULLY SHE SAID SHE HAD HER EMPLOYER'S SUPPORT.

>> THERE ARE FAR TOO MANY ILLINOISANS PUT BETWEEN A ROCK AND A HARD PLACE WHEN LIFE HAPPENS IN LIFE HAPPENS TO ALL OF US.

TOO MANY WHO FEEL LIKE THEY HAVE TO CHOOSE BETWEEN THEIR JOBS AND THEIR LOVED ONES AND HONESTLY THAT IS A FALSE CHOICE.

>> SHE SAYS IT'S NOT GOOD FOR THEIR WORK IF WORKERS ARE SCARED TO TAKE OFF, CONTINUE TO WORK WHEN THEY ARE ILL, AS THAT CAN MAKE OTHERS SICK.

>> EMPLOYERS BENEFIT FROM ALLOWING EMPLOYEES TO TEND TO URGENT MATTERS OF THE PERSONAL LIVES.

WORKER PRODUCTIVITY INCREASES AND THEY OFTEN GAIN GREATER PASSION FOR THEIR JOB WHEN THEY CAN MANAGE THE STRESSES THAT THEY FACE OUTSIDE OF WORK MORE EASILY.

>> TO THAT END, MAJOR BUSINESS GROUPS LIKE THE STATE RETAIL MERCHANTS ASSOCIATION BACK TO THE MEASURE BUT SMALL BUSINESSES DO NOT.

THE LAW MAKES AN EXEMPTION FOR FIRMS WITH LESS THAN 50 OR 20 EMPLOYEES IN MANY CASES BUT NOT WITH THIS POLICY.

THE FEDERATION OF INDEPENDENT BUSINESSES, SAYING SMALL BUSINESSES ARE ALREADY DEALING WITH GENERATIONAL INFLATION IN TRYING TO RECOVER FROM THIS PANDEMIC.

>> THEY ARE FACING SUPPLY-CHAIN ISSUES, THERE IS A SHORTAGE OF WORKERS, THEY ARE STRUGGLING TO KEEP THEIR DOORS OPEN RIGHT NOW AND IN FACT WE SEE IT ACROSS THE STRAIT, MANY ARE RESTRICTING THEIR HOURS OF OPERATION.

FINDING IT VERY DIFFICULT TO MEET THE NEEDS OF THEIR CUSTOMERS AND CLIENTS.

>> MOST SMALL BUSINESS OWNERS CONSIDER THEIR EMPLOYEES FAMILY , AND WILL WORK WITH THEM WITH CIRCUMSTANCES.

NOW HE SAYS THEY WILL NOT ONLY HAVE TO DEAL WITH WORKERS BEING FORCED TO FIGURE OUT WHEN WORKERS HAVE ACCRUED THOSE HOURS.

SOMETHING HE SAID MANY SMALL BUSINESSES ARE NOT EQUIPPED TO DO.

>> MOST SMALL BUSINESSES DON'T HAVE BROAD RANGING POLICIES OR A HUMAN RESOURCES DEPARTMENT.

TO IMPLEMENT A BUNCH OF POLICIES.

SMALL BUSINESS WITH PART-TIME EMPLOYEES, NOW HAVE THE BURDEN OF TRACKING THE HOURS .

>> WHAT ELSE DO PEOPLE NEED TO KNOW ABOUT THIS?

>> THE GOVERNOR SIGNED THE LAW TODAY BUT IT DOESN'T TAKE EFFECT UNTIL NEXT YEAR AND TECHNICALLY IT WOULDN'T COME INTO EFFECT UNTIL THE END OF MARCH BECAUSE WORKERS NEED TO ACCRUE ALL OF THE TIME OFF.

BY AND LARGE THOUGH IT DOES COVER MOST ILLINOIS WORKERS AND THEY WILL GET UP TO 40 HOURS AS I SAID OF PAID LEAVE ANNUALLY AND THERE'S NO NEED FOR A DOCTORS NOTE OR ANYTHING.

THIS IS PAID LEAVE FOR ANY REASON.

>> THANK YOU.

>> WE ARE BACK WITH MORE CHICAGO TONIGHT RIGHT AFTER THIS.

>>> BY DAY HE CARES FOR PREMATURE INFANTS AND TEACHES MEDICINE AT NORTHWESTERN UNIVERSITY.

I NIGHT THE GOOD DOCTOR TRANSFORMS INTO THE PHYSICIAN MAGICIAN.

HIS NEW SHOW AT THE RHAPSODY THEATER, WEAVING STORIES OF HIS LIFE AND CAREER INTO ELEGANT ALLUSIONS.

>> MAGICIANS, HEAR THE WORD IMPOSSIBLE, AND THAT'S WHERE WE START.

IN MEDICINE EVERY ILLNESS, BIG OR SMALL, CARRIES A RISK THAT YOU WON'T BE ABLE TO MAKE IT.

SOMETIMES, IMPOSSIBLE TO HEAL MIGHT BE SOMETHING THAT EITHER YOU HEAR OR SIT THERE.

>> THE MEDICAL PROFESSION IS ABOUT IMPOSSIBILITY.

>> YOU ARE TELLING US YOU WANT TO GO TO ITALY?

>> BELIEF IS THE GOLDEN THREAD THAT CONNECTS TWO OF HIS LIFE'S GREATEST PURSUITS.

>> I THINK THE MOST MAGICAL THING ABOUT BELIEF IN MEDICINE IS, BELIEF THAT THE PERSON THAT IS THERE IS GOING TO TAKE THE SCIENCE AND APPLY IT AS BEST AS THEY CAN.

>> THE PHYSICIAN MAGICIAN.

HOW TO SOLVE THE RUBIK'S CUBE.

SEEING MAGICIANS DO IMPOSSIBLE THINGS, IT HELPS US MOVE FORWARD.

>> THE MEDICINE CAME BEFORE THE MAGIC, FOR THE PHYSICIAN MAGICIAN.

IT WASN'T UNTIL HE WAS IN HIS 30s THAT HE BEGAN HIS PURSUIT OF MEDICAL EDUCATION .

HIS INTEREST DEEPENED WHEN HE MOVED TO CHICAGO TO COMPLETE HIS PEDIATRIC RESIDENCY AND MET EUGENE BERGER.

>> I LEARNED FROM EUGENE THAT MAGIC WAS SO MUCH MORE THAN TRICKS.

THERE WAS MEANING IN THE MEETING WAS POWERFUL.

>> HE INCORPORATED MAGIC INTO HIS CLASSES AS A PROFESSOR AT NORTHWESTERN UNIVERSITY.

HE MOONLIGHTED PERFORMING HIS MAGIC SHOWS.

IN 2022 WHEN A HISTORIC ROGERS PARK THEATER WAS PUT UP FOR SALE HE SEIZED THE CHANCE TO TRANSFORM IT INTO A SHOWCASE FOR MAGIC AND CABARET PERFORMANCE.

>> I'M A BIG BELIEVER THAT THE ART HAS TO COME TO THE NEIGHBORHOOD AND WE SHOULDN'T HAVE TO GO THROUGH THE LOOP TO GET CLOSER.

>> IN HIS SHOW HE PULLS INSPIRATION FROM HIS OWN LIFE TO CREATE AN ENCHANTING NEW SPECTACLE.

>> WITH COVID BEING THE KIND OF VERY DIFFICULT TIME FOR EVERYBODY THAT WAS, I FEEL THAT SOMETIMES PEOPLE COME TO THE THEATER TO FORGET.

BUT SOMETIMES THEY COME TO THE THEATER TO REMEMBER AND PROCESS.

SO THE THEME FOR THIS PARTICULAR SHOW IS LOSS.

MAGIC IS ABOUT TRANSFORMATION AND LIFE IS ABOUT TRANSFORMATION, THAT IS WHAT I PUT IN THE SHOW.

>> IT ALSO GIVES HIM THE OPPORTUNITY TO OFFER ANOTHER NOD TO HIS MEXICAN UPBRINGING, SUNDAY PERFORMANCES OF HIS SHOW IN SPANISH.

>> I GREW UP IN MEXICO, I FELL IN LOVE WITH MEDICINE IN MEXICO AS WELL AS MAGIC.

I NEED TO DO A SHOW IN SPANISH THAT CELEBRATES THAT AND GIVE THE PEOPLE AN AUTHENTIC PERFORMANCE IN THEIR FIRST LANGUAGE, MY FIRST LANGUAGE.

IN WATCHING ALL THESE WONDERFUL THINGS THAT HAVE HAPPENED, AND HEARING STORIES THAT ARE ABOUT LIFE, AND THE UPS AND DOWNS OF LIFE, THEY ARE NOT NECESSARILY PRESCRIPTIVE BUT I'M A DOCTOR SO I'M USED TO WRITING A PRESCRIPTION AT THE END.

WHEN THEY WALK OUT THEY ARE ENERGIZED AND EMPOWERED FOR THEIR OWN LIFE.

THAT, FOR ME IS REALLY WHAT I WANT.

>> HIS SHOW IS AT THE RHAPSODY THEATER THROUGH APRIL SECOND INCLUDING SEVERAL SHOWS PRESENTED IN SPANISH.

FIND MORE ON THAT ON OUR WEBSITE.

>> THAT'S OUR SHOW FOR THIS MONDAY NIGHT, STAY CONNECTED WITH US BY SIGNING UP FOR OUR BRIEFING.

YOU CAN GET CHICAGO TONIGHT STREAMED ONLINE AND ON OUR WEBSITE AT WTTW.COM.

>> JOIN US TOMORROW NIGHT LIVE AT 10:00 IS LAWMAKERS LOOK TO TIGHTEN REGULATION ON THE BYPRODUCTS OF A FORMER POWER PLANT IN WAUKEGAN.

>>> AND OUTRAGE OVER THE LIMITED ACCESS TO GRANT PARK OVER THE SUMMER.

FOR ALL OF US HERE I'M PARIS SCHULTZ, STAY HEALTHY AND WE WILL SEE TOMORROW.