Item — HN Reader

Newsom is not in a position to impact the FEDERAL response to the collapse of SVB.

If there was a scandal relating to SVB and the CA State Assembly then yeah this article is pointing out something nefarious, but that isn't what happened.

It's basically just complaining for the sake of complaining.

On a separate note, this is now the 2nd article I've seen written by writers funded directly by the Omidyar Network about SVB. If you want an influence related conspiracy to chase, go chase that (most likely spurious) allegation.

1 comments

> Newsom is not in a position to impact the FEDERAL response to the collapse of SVB.

False:

"Biden eventually came around to the view that an emergency rescue was the only viable option after multiple briefings Friday through Sunday from chief of staff Jeff Zients and new National Economic Council Director Lael Brainard, who just joined the White House after serving as vice chair of the Fed and chair of the central bank’s Financial Stability Committee. He also spoke with California Gov. Gavin Newsom on Saturday about SVB’s failure and its impact on the state."

https://www.politico.com/news/2023/03/13/the-emergency-bank-...

Yes. I posted that article on HN, and I have referenced that in my comment as well.

As this entire thread is not getting votes outside of us two, I'm just gunna stop responding and discussing because it's clearly not changing any minds and I have better stuff to do with my evening.

If someone is among the few select people that the POTUS consults in the hours during which a crucial, urgent decision is made, I would say that person has more power than most people on Earth. Biden certainly didn't call me and ask my opinion. Hence, I consider the notion bizarre that Newsom had little or no power in this case. We obviously have very different perceptions of the situation.

I'm still unclear about what you think the news media ought to be doing. I get the feeling from several comments on this submission that the media should have just censored stories and facts that are potentially embarrassing to the Governor?

Or let me put it another way: if this is no big deal, a nothing burger as it were, then why do you object to the publication of the article? Not every story needs to be Watergate.