{"id":2046,"date":"2023-03-15T15:45:07","date_gmt":"2023-03-15T20:45:07","guid":{"rendered":"https:\/\/nakedpolitics.net\/?p=2046"},"modified":"2023-03-15T15:45:08","modified_gmt":"2023-03-15T20:45:08","slug":"democrat-governor-newsom-failed-to-disclose-ties-to-silicon-valley-bank-while-pushing-bailout","status":"publish","type":"post","link":"https:\/\/nakedpolitics.net\/?p=2046","title":{"rendered":"Democrat Governor Newsom Failed To Disclose Ties To Silicon Valley Bank While Pushing Bailout"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>A report released today by the Intercept details that Gavin Newsom, Democrat Governor of California, failed to disclose that he was a client of Silicon Valley Bank while urging for a public bailout.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Newsom urged the Federal Government to bailout Silicon Valley Bank, and cheered when they decided to intervene. See a letter from his office about the bailout below\u2026<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">The Biden Administration has acted swiftly and decisively to protect the American economy and strengthen public confidence in our banking system. Their actions this weekend have calmed nerves, and had profoundly positive impacts on California. <a href=\"https:\/\/t.co\/6VbLIq4Lqv\">pic.twitter.com\/6VbLIq4Lqv<\/a><\/p>&mdash; Office of the Governor of California (@CAgovernor) <a href=\"https:\/\/twitter.com\/CAgovernor\/status\/1635068631725010944?ref_src=twsrc%5Etfw\">March 13, 2023<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">That bombshell report from\u00a0<a href=\"https:\/\/theintercept.com\/2023\/03\/14\/cheering-silicon-valley-bank-bailout-gavin-newsom-doesnt-mention-hes-a-client\/\">the Intercept reads\u2026<\/a><\/p>\n\n\n\n<blockquote class=\"wp-block-quote has-text-align-center is-layout-flow wp-block-quote-is-layout-flow\" style=\"font-size:8px\">\n<p class=\"has-text-align-center wp-block-paragraph\" style=\"font-size:22px\">On Monday, California Gov. Gavin Newsom praised the Biden administration\u2019s decision to intervene on behalf of Silicon Valley Bank\u2019s clients after the bank was taken over by the FDIC on Friday amid a bank run. The White House \u201cacted swiftly and decisively to protect the American economy and strengthen public confidence in our banking system,\u201d Newsom&nbsp;<a href=\"https:\/\/www.gov.ca.gov\/2023\/03\/12\/governor-newsom-issues-statement-on-biden-administrations-action-on-silicon-valley-bank\/\">said in a statement<\/a>. What Newsom didn\u2019t mention is that it also protected his own companies if they held over $250,000 in deposits.<\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\" style=\"font-size:22px\">CADE, Odette, and PlumpJack, three wineries owned by Newsom,&nbsp;<a href=\"https:\/\/www.svb.com\/globalassets\/library\/uploadedfiles\/svb-client-wine-promotions-mar-2020.pdf\">are listed<\/a>&nbsp;as clients of SVB on the bank\u2019s website. Newsom also maintained personal accounts at SVB for years, according to a longtime former employee of Newsom\u2019s who handled his finances, and who requested anonymity to avoid professional reprisal.<\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\" style=\"font-size:22px\">\u201cGovernor Newsom\u2019s business and financial holdings are held and managed by a blind trust, as they have been since he was first elected governor in 2018,\u201d Nathan Click, a spokesperson for Newsom, told The Intercept in an email.<\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\" style=\"font-size:22px\">Newsom also didn\u2019t mention his wife Jennifer Siebel\u2019s professional ties to the bank. In 2021, Silicon Valley Bank gave $100,000 to the charity founded by Siebel, the California Partners Project, at the request of Newsom.<\/p>\n<cite>https:\/\/theintercept.com\/2023\/03\/14\/cheering-silicon-valley-bank-bailout-gavin-newsom-doesnt-mention-hes-a-client\/<\/cite><\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">Is this open corruption from the Governor of California? What a shameless individual!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Original Article: <a href=\"https:\/\/rare.us\/rare-politics\/democrat-governor-newsom-failed-to-disclose-ties-to-silicon-valley-bank-while-cheering-on-bailout\/\">https:\/\/rare.us\/rare-politics\/democrat-governor-newsom-failed-to-disclose-ties-to-silicon-valley-bank-while-cheering-on-bailout\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A report released today by the Intercept details that Gavin Newsom, Democrat Governor of California, failed to disclose that he was a client of Silicon Valley Bank while urging for a public bailout. Newsom urged the Federal Government to bailout Silicon Valley Bank, and cheered when they decided to intervene. See a letter from his office about the bailout below\u2026 That bombshell report from\u00a0the Intercept reads\u2026 On Monday, California Gov. Gavin Newsom praised the Biden administration\u2019s decision to intervene on [&hellip;]<\/p>\n","protected":false},"author":63,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-2046","post","type-post","status-publish","format-standard","hentry","category-democrats"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/posts\/2046","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/users\/63"}],"replies":[{"embeddable":true,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2046"}],"version-history":[{"count":1,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/posts\/2046\/revisions"}],"predecessor-version":[{"id":2047,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/posts\/2046\/revisions\/2047"}],"wp:attachment":[{"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}