Oh, how incestuous they are. It’s like the old Mafia saying with these progressive Democrats – “One hand washes the other.”

BREAKING: California Governor Gavin Newsom lobbied the White House and Treasury on the bailout of Silicon Valley Bank, without disclosing that his private wineries had reportedly been the bank's clients & he may have even had a personal account at the bank, per the Intercept

— unusual_whales (@unusual_whales) March 15, 2023

Six days ago, the California governor was hustling like a bad dog for the Silicon Valley Bank depositors facing financial ruin due to its collapse. He was busy working the phones to D.C. and reassuring people immediately affected that they would get things taken care of.

There had to be some comfort to all when the governor issued a statement Sunday evening that he was on the job…

…and then a huge sigh of relief when he announced the next day it was all gonna be made good. No worries – just a burp here, although the focus of his jubilation seemed a little strange. Kind of a weird little list. There’s nothing about individual savings, and hardworking entrepreneurs teetering on the edge of ruin…affordable housing projects? Like, whut?

“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 — on our small businesses that can now make payroll, workers who will get their paychecks, on affordable housing projects that can continue construction, and on non-profits that can keep their doors open tomorrow. 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.”

Well, according to a report out today from The Intercept, another couple of SVB’s clients benefitted from the governor working hand in glove with the White House and Treasury to pay all the uninsured depositors – Gavin Newsom and 3 of his wineries.

Who knew?! Well, if anybody did, it wasn’t because Gavin Newsom told them.

ON MONDAY, California Gov. Gavin Newsom praised the Biden administration’s decision to intervene on behalf of Silicon Valley Bank’s clients after the bank was taken over by the FDIC on Friday amid a bank run. The White House “acted swiftly and decisively to protect the American economy and strengthen public confidence in our banking system,” Newsom said in a statement. What Newsom didn’t mention is that it also protected his own companies if they held over $250,000 in deposits.

CADE, Odette, and PlumpJack, three wineries owned by Newsom, are listed as clients of SVB on the bank’s website. Newsom also maintained personal accounts at SVB for years, according to a longtime former employee of Newsom’s who handled his finances, and who requested anonymity to avoid professional reprisal.

Must have slipped his mind to mention his multiple personal ties to the failed bank, but then, Newsom’s always been a class act.

…The unmistakable class overtones of a bank whose clientele includes many tech investors — and wineries — has made for a bitter debate over the merits of the intervention.

“There is definitely a class element,” economist Dean Baker of the Center for Economic and Policy Research said of the federal intervention in an email to The Intercept. “Look at how easily we can toss tens of millions of dollars at people who couldn’t figure out how limits on FDIC deposit insurance work, but the idea of giving $10k in debt relief to a student who might have used bad judgment in taking out a loan when they were 18, gets so many people upset about moral hazard and individual responsibility.”

The Newsom rules are different for different classes…

Sour grapes: California governor Gavin Newsom shuts down wineries in 19 counties hit hard by COVID-19 – but keeps his OWN tasting room in Napa open

…remember?

EXCLUSIVE: We've obtained photos of Governor Gavin Newsom at the Napa dinner party he's in hot water over. The photos call into question just how outdoors the dinner was. A witness who took photos tells us his group was so loud, the sliding doors had to be closed. 10pm on @FOXLA pic.twitter.com/gtOVEwa864

— Bill Melugin (@BillFOXLA) November 18, 2020

Yup. Always a classy guy, and man – does he know how to work the system and make the right friends. Newsom started out as a running buddy of one of the Getty kids (yes, those Gettys), which worked out pretty swell for him.

…Newsom, 51, got his start in business with the help of family friend Gordon Getty, son of the late billionaire oil tycoon J. Paul Getty. With his financing, Newsom and Gordon Getty’s son, Billy, opened a San Francisco wine shop in 1992 and later a restaurant.

Those grew to a web of businesses known as the PlumpJack Group that includes four hotels; four Napa Valley wineries; several bars and restaurants; two wine and liquor stores in San Francisco; and an online liquor store.

His truly successful business empire only got to be an issue when he ran for governor, and then, because he wasn’t willing to unload them to be governor, Newsom sidestepped requirements by dumping everything into a “blind trust.”

…Newsom, a Democrat, is running for governor, and those business interests present an ethics challenge if he’s elected as predicted and follows through on his vow to keep his holdings.

“These are my babies, my life, my family. I can’t do that. I can’t sell them,” Newsom told reporters during a recent bus tour. He has said he’ll make decisions on how he’ll balance business and government work after the Nov. 6 election.

…As lieutenant governor, Newsom said he hasn’t participated in PlumpJack’s day-to-day operations or personnel decisions. His sister, Hilary, runs the company, though Newsom said he reviews financials and stops by big events, such as the release of a new wine vintage.

As governor, he said he’s inclined to give up all involvement, but “we’ll have lawyers, smart folks look at that.”

“I will do the right thing,” Newsom said.

Now, he’s supposed to recuse himself, blind trust or otherwise, from anything related to those businesses or him personally, but I’ll grant you these are extraordinary circumstances. What stopped “do the right thing” guy from saying, “I feel your pain. I am affected by this too, and I am fighting for us“?

Probably his default innate sense of subterfuge before transparency.

Like the part where his working the hay-yull out of CA’s corrupt legal extortion scheme elected officials’ “behest” system…

…California strictly regulates gifts and campaign contributions, but “behested payments” are in a different category. Elected officials are free to request donations in any amount from any individual or entity for any “legislative, governmental or charitable purpose.” There are no limits on how much may be requested or given. State law requires public reporting if the payments total $5,000 or more in a calendar year from a single source.

…has siphoned $1,671,680 out of various pockets for his wife’s charity…

…The governor has taken advantage of California’s “behested payments” law to ask for “charitable” contributions to benefit the“California Partners Project” founded by his wife. In the last three years, the project has collected $1,671,680 at Gov. Newsom’s “behest.”

…which includes $100,000 from? Silicon Valley Bank. Knock me over with a feather.

…Who is giving money to Mrs. Newsom’s project at the governor’s behest? In April, the Federated Indians of Graton Rancheria wrote a check for $300,000. Silicon Valley Bank in Menlo Park wrote four checks for $25,000 each. Several foundations have contributed generously.

How odd there was no mention of SVB being contributors to a charity near and dear to the governor’s heart, either. Of course, he’d go to bat for them, the classy guy that he is.

Especially since SVB had written checks to not one, but TWO Newsom charities. Siebel Newsom’s charity actually has an SVB bank president on its board…

…Silicon Valley Bank and its executives played a major role in the Newsom nonprofit, the California Partners Project, since its founding. The President of Silicon Valley Capital – the investment banking arm of the bank – is John China. Mr. China is a 27-year SVB veteran. He’s also a founding board member of the Newsom nonprofit. Even today, China is still listed as a director on the nonprofit’s website.

…while in 2019 Newsom had the bank drop 50 grand into the coffers of a Miami-based charity associated with tons of celebrities. Nice to use the CA gov’s personal slush fund for his wife and friends.

Awkward. And they’re just starting to crawl through the books.

He probably coulda shoulda mentioned something about any of it.

Not in his nature.

One hand washes the other.