excalibur
Diamond Member
- Mar 19, 2015
- 18,146
- 34,366
- 2,290
Just more of the usual Democratic Party corruption here.
www.nationalreview.com
California governor Gavin Newsom lobbied the White House to bail out Silicon Valley Bank (SVB) and later celebrated the decision after it was made public, without mentioning that the firm is a backer in at least three wine companies he owns.
The Biden administration “acted swiftly and decisively to protect the American economy and strengthen public confidence in our banking system,” the governor noted in an official statement released on Monday.
“Their actions this weekend have calmed nerves, and had profoundly positive impacts on California,” Newsom added. “California is a pillar of the American economy, and federal leaders did the right thing, ensuring our innovation economy can continue to grow and move forward.”
However, The Intercept revealed Tuesday that the governor failed to note in his official remarks that at least three wineries owned by Newsom – CADE, Odette, and Plumpjack – are listed clients of SVB. Newsom further glossed over his personal banking ties with the now-defunct firm and the fact that his wife, Jennifer Siebel, was the recipient of a $100,000 charitable donation from SVB in 2021.
The potential conflict of interest did not appear to be on Newsom’s mind when the governor’s office acknowledged over the weekend that he had been in touch with the White House and was directly involved in discussions over the failing bank.
“Over the last 48 hours, I have been in touch with the highest levels of leadership at the White House and Treasury. Everyone is working with FDIC to stabilize the situation as quickly as possible, to protect jobs, people’s livelihoods, and the entire innovation ecosystem that has served as a tent pole for our economy,” the governor’s office said in a statement.
...
The Biden administration “acted swiftly and decisively to protect the American economy and strengthen public confidence in our banking system,” the governor noted in an official statement released on Monday.
“Their actions this weekend have calmed nerves, and had profoundly positive impacts on California,” Newsom added. “California is a pillar of the American economy, and federal leaders did the right thing, ensuring our innovation economy can continue to grow and move forward.”
However, The Intercept revealed Tuesday that the governor failed to note in his official remarks that at least three wineries owned by Newsom – CADE, Odette, and Plumpjack – are listed clients of SVB. Newsom further glossed over his personal banking ties with the now-defunct firm and the fact that his wife, Jennifer Siebel, was the recipient of a $100,000 charitable donation from SVB in 2021.
The potential conflict of interest did not appear to be on Newsom’s mind when the governor’s office acknowledged over the weekend that he had been in touch with the White House and was directly involved in discussions over the failing bank.
“Over the last 48 hours, I have been in touch with the highest levels of leadership at the White House and Treasury. Everyone is working with FDIC to stabilize the situation as quickly as possible, to protect jobs, people’s livelihoods, and the entire innovation ecosystem that has served as a tent pole for our economy,” the governor’s office said in a statement.
...
Newsom Pushed White House to Bail Out SVB, Celebrated Decision without Mentioning Conflict of Interest | National Review
Newsom owns three wineries that were clients of SVB.
www.nationalreview.com
/cloudfront-us-east-2.images.arcpublishing.com/reuters/KEK37KUEWJN4HDBHGPTOFX7SNM.jpg)
