The board of Silicon Valley Bank, which imploded over the weekend, was stacked with former Clinton donors, Obama appointees and Democratic activists.
'Outnumbered' panelists discuss the Biden administration's response to ongoing crises in America.
Last week, SVB suffered $1.8 billion in losses as it faced a liquidity crisis caused by souring investments in bonds those lost value as interest rates rose. The bank's share price fell 60% last week and the Federal Deposit Insurance Corporation stepped in on Friday to take over the bank's operations as depositors panicked and rushed to withdraw their money.
SMALL BUSINESS OWNER SPEAKS OUT AFTER SILICON VALLEY BANK COLLAPSE: 'I'M GOING TO DO WHAT IT TAKES TO SURVIVE' On Tuesday, the New York Post reported that among the 12 members of SVB’s board of directors who were supposed to guide the bank away from catastrophic errors include a Hillary Clinton mega-donor who went to a Shinto shrine to pray after Donald Trump won the White House, a former President Barack Obama political appointee, and a prolific contributor to Democrats who owns a Napa Valley vineyard just 15 minutes from the former House Speaker Nancy Pelosi, D-Calif.
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