by daniel_g at welovetrump.com
As WeLoveTrump noted, the Federal Reserve and Treasury Department caved amidst the Silicon Valley Bank collapse.
In an unprecedented Sunday night decision, they released a joint statement saying they will make all depositors whole — regardless of the $250,000 normal FDIC limit.
After saying earlier that bailouts were off the table, we’re suddenly right back to 2008 again and protecting the rich and the “too big to fail.”
Per reports, Chinese and Israeli tech start-ups that relied on capital from Silicon Valley Bank were among the groups in a panic and hoping for a bailout to protect their deposits.
California Gov. Gavin Newsom is one individual reportedly with personal ties to Silicon Valley Bank and hoping for a bailout.
According to reports, Newsom lobbied the White House and Treasury for a Silicon Valley Bank bailout.
However, the Democrat governor reportedly didn’t disclose his personal accounts at the bank.
“California law bans officials from influencing decisions in which they have ‘a financial interest,’” Business Insider states.
California Gov. Gavin Newsom is one individual reportedly with personal ties to Silicon Valley Bank and hoping for a bailout.
According to reports, Newsom lobbied the White House and Treasury for a Silicon Valley Bank bailout.
However, the Democrat governor reportedly didn’t disclose his personal accounts at the bank.
“California law bans officials from influencing decisions in which they have ‘a financial interest,’” Business Insider states.