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The Lockean Project

Newsom’s Blatant Conflict in Silicon Valley Bank Collapse

“Newsom’s Blatant Conflict in Silicon Valley Bank Collapse,” Submitted to various newspapers, March 18, 2023, not published

Our Governor had extensive uninsured deposits in SVB, the bank where 97% of depositors were rather wealthy (with over $250,000 of deposits). As a blatant conflict of interest, he lobbied to change banking regulations to make sure his deposits were guaranteed, along with his rich friends. Contrary to the Biden lie, taxpayers will be the ones to pay for this largesse. Newsom also had assets of three of his wineries in this bank. Do the math: This conflict put millions in Newsom’s pockets, courtesy of the taxpayers. This is hardly a Governor of the people, but someone doing a great job for the Democrat elites.

Dr. C. Michael Hogan, Monterey

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