Newsom has deeper ties to SVB than he let on, report says

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Newsom has deeper ties to SVB than he let on, report says
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A new report revealed that California Gov. Gavin Newsom has several ties Silicon Valley Bank, which failed last week amid a bank run.

The news that Newsom has had personal accounts at the bank was revealed by a former staffer who spoke to The Intercept on the condition of anonymity.

without a mention of his personal ties. Newsom's statement says the Biden administration"acted swiftly and decisively to protect the American economy and strengthen public confidence in our banking system." Newsom also said that he's been discussing action on Silicon Valley Bank with the White House.

"Over the last 48 hours, I have been in touch with the highest levels of leadership at the White House and Treasury," he said Saturday."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.”

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