California Governor Gavin Newsom on Sunday praised President Joe Biden’s announcement that his administration would assure the deposits of Silicon Valley Financial institution’s clientele regardless of its failure. The deposits have been already insured as much as $250,000 by the Federal Deposit Insurance coverage Corp. (FDIC), however Biden’s ensures go far past that.
Some are calling it a bailout.
What Newsom forgot to say is that he’s a longtime consumer of the failed regional financial institution, and three of his wineries did…
