Gavin Newsom Celebrated SVB Bailout

  • Newsom also kept personal accounts at the failed bank, a source told The Intercept.
  • “Governor Newsom’s business and financial holdings are held and managed by a blind trust, as they have been since he was first elected governor in 2018,” a Newsom spokesman told The Intercept in an email.
  • The Biden administration and FDIC’s decision to backstop all deposits at Silicon Valley Bank came after Newsom personally coordinated with the White House and other top officials.
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