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Breaking Points with Krystal and Saagar
3/17/23: Jon Stewart Pushes Mark Cuban On SVB, Carcinogens Detected in East Palestine, Roger Waters Concert Cancelled For Israel Position, McNally Embarrassing Social Media Flirting, Snapchat Crazy AI bot, Gov Gavin Newsom's Connection To SVB
Mar 17, 2023
37:14
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Jon Stewart pushes back on Mark Cuban's support for the Silicon Valley bailout, while East Palestine, Ohio detects carcinogens in its water. A Roger Waters concert is canceled due to his stance on Israel, Lt. Governor McNally embarrassingly flirts on social media, Snapchat's AI goes haywire, and Ken Klippenstein discusses Gov. Gavin Newsom's ties to the SVB bailout.
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Quick takeaways
- California Governor Gavin Newsom has personal financial connections to Silicon Valley Bank (SVB) through his wineries and his wife's involvement with a nonprofit funded by SVB.
- The recent bank bailout involving Silicon Valley Bank raises concerns about economic and moral hazards, highlighting the inconsistencies in politicians' ethical positions and potential conflicts of interest.
Deep dives
Gavin Newsom's Ties to Silicon Valley Bank
California Governor Gavin Newsom has several connections to Silicon Valley Bank (SVB). His three wineries are listed in SVB's winery division and he uses SVB for his personal accounts. Additionally, Newsom's wife sits on the board of a nonprofit that received $100,000 in funding from SVB. Critics question the transparency of Newsom's blind trust, which is run by his sister, arguing that it is not meaningfully blind due to his knowledge of the businesses involved and the family connection.
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Listen to the best highlights from the podcasts you love and dive into the full episode