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Governor had ties to Failed Bank

A new report says California Governor Gavin Newsom and his family had deep business ties to the now failed Silicon Valley Bank. The Intercept reports Newsom maintained personal accounts at the bank for years and at least three of his wineries have financial ties as well. The report also says a bank president sits on the board of his wife's charity and that a Silicon Valley Bank executive made a 100-thousand-dollar donation to the California Partners Project - a charity founded by Jennifer Siebel Newsom. A spokesperson for the governor's office told the SF Gate that the governor's financial holdings are managed in a blind trust. GOP leaders are challenging Newsom to turn over any further state dealings with the SVB bailout to the Lieutenant Governor and ask the State Attorney General to review the matter for any law violations.

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