Mayor Bill Wells: “Governor Newsom Must Come Clean About Ties to Silicon Valley Bank”

According to a recent article published by The Intercept, Governor Newsom has close ties to Silicon Valley Bank and its executives and has been lobbying on their behalf for a bailout of the bank.

These actions raise serious questions about the Governor’s impartiality and conflict of interest in this matter. The Governor’s personal and political ties to Silicon Valley Bank executives create the appearance of a conflict of interest, which undermines public trust in the decision-making process.

While it’s unclear whether Newsom’s personal accounts are still active, his family has close ties to the bank and could have directly benefited from President Biden’s rescue package.

In light of these revelations, I strongly urge Governor Newsom to provide clarity and honesty about any involvement in the Silicon Valley Bank bailout. This is necessary to ensure that the decision-making process is fair, transparent, and free from any undue influence.

As Governor of California, Mr. Newsom has a duty to act in the best interests of the people of California, and to maintain the highest ethical standards. I call on him to demonstrate this commitment by recusing himself from any further involvement in the Silicon Valley Bank bailout.