If Gavin Newsom is trying to self-destruct, he’s doing a great job.
The governor of California recently praised Biden’s bailout of SVB, all the while omitting the fact that his wine companies and personal accounts all use SVB.
He said the FDIC’s decision to cover all depositor losses would have “profoundly positive impacts” on California businesses — but he didn’t mention that it would also have a “profoundly positive impact” on his own assets.
Newsom owns several wineries, CADE, Odette, and PlumpJack. All of them banked with SVB, and all were at risk of losing their deposit if holding over $250,000 threshold in a single account.
Host of "The Rubin Report," Dave Rubin, gives his take on the matter.
He says, “This should not surprise us at all. He’s got millions of dollars invested in these wineries, he personally is worth around — I don’t know — 20 million ... he was lobbying for the government to bailout HIS bank.”
Savannah Hernandez responds, “He is one of the most corrupt politicians that we have.”
She recalls that during COVID, he forced the entire state to lockdown, wear face masks, and stay away from visiting family in the hospital while he was wining and dining with his friends.
Savannah adds, “Going to SVB, I believe they also donated 73 million ... to Black Lives Matter and other social programs — and again, we have to ask the question, who is paying for these bailouts?”
While Biden claimed the American taxpayers wouldn’t be paying for the bailouts, that’s exactly who is paying for the bailouts.
Hernandez calls it “an absolute joke,” before asking, “Why is it that when Joe Biden comes out and says ‘the banking system is safe,’ we all automatically know the banking system is not safe?”
Apparently, whenever our government says one thing, the opposite is true.
Hernandez is right. Truly — at this point — it’s all a joke.
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