Open The Books:
Update: On March 20, 2023 Silicon Valley Bank Capital President John China was removed from the Newsom’s California Partners Project’s website as a board director and as a member of the their Gender Equity Advisory Counsel. Interestingly, Silicon Valley Bank Capital, the investment banking arm, is still listed by the Newsom nonprofit as a “partner.”
A new director appeared, Dr. Devika Bhushan, an “equity-focused pediatrician” who served as California’s Acting Surgeon General from February to August 2022. On March 21, we reached out to the nonprofit for comment, and shortly thereafter Dr. Bhushan was removed from the website. However, we anticipate a future announcement of her board membership.
Background
Last Friday, when the Silicon Valley Bank quickly imploded and rocked the U.S. financial sector, it was taken over by federal regulators. The bank was known for backing tech start-ups, and had come under fire for prioritizing investments into climate change and social ventures rather than those that could make a predictable return.
The executive roster of the bank had a questionable track record. For example, SVB’s Chief Administrative Officer, Joseph Gentile, was the CFO of Lehman Brothers investment bank when it collapsed. SVBs Chief Risk Officer position was left vacant for nine months through January 2023.
The CEO, Greg Becker, was a director at the San Francisco Federal Reserve Bank from 2019 until termination on Friday. Becker’s also under investigation for selling $3.6 million in bank stock during a period when SVB was in the markets to raise $2 billion from investors— an effort to keep the bank solvent.
Silicon Valley Bank’s “Behested” $100,000 Gift To Newsom’s Nonprofit
Our auditors at OpenTheBooks.com found that California Governor Gavin Newsom, through a nonprofit organization his wife, Jennifer Siebel Newsom founded, the California Partners Project, has very close ties to the bank.
In 2021, SVB gave $100,000 in corporate gifts to the Newsom nonprofit. These gifts are so intertwined with the Newsom’s that they are listed as a matter of California ethics law on a state government website, California Fair Political Practices Commission. MORE HERE
Oh come on, he ain’t smart enough.
Duct Tape and Rope.
That’ll fix it.
So what have we learned . . .
The U.S. Federal Reserve Bank is owned by a private company.
The U.S. Federal Election Voting System is owned by a private company.
The U.S. Federal National Public Radio and TV is owned by a private company.
The U.S. Federal Land Management is owned by a private company.
Have we about got it all?
A compliant media will continue to carry Newsome’s water.
Gender Equity Advisory Counsel…WTH?
Dr. Devika Bhushan..lockdown czar?
Is there an honest California politician/bureaucrat left?