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You are really kind of raising the alarm about a lot of this stuff in the past weeks and months. you talked to a lot of x svb employees and what it was like, what was the culture like and what did you find? >> sure, i think the context is that silicon valley bank was the banker to silicon valley. they were financing a lot of the private startups that could not get startups from the larger banks like j.p. morgan. they were also financing the venture capital firms that were investing in them. they were financing under pet projects like wineries, giving them mortgages, doing everything to serve p...

Caused the run on these banks? >> every developed economy in the world is experiencing inflation. >> others taking the fallout as a warning sign. >> those bank failures highlighted our fragile our economy is right now given decades-high inflation and rising interest rates. the more congress bowers and spends the higher interest rates will have to go up. >> one prominent democrat praising the bailout, california governor gavin newsom, while he did lobby the white house for this outcome, he failed to disclose that he is a beneficiary of it as the owner of three california wineries that are liste...

U.S. regulators closed the Silicon Valley Bank on Friday after depositors rushed to withdraw their funds all at once. It was the second largest bank failure in U.S. history

California Governor Gavin Newsom owns at least three wineries, which were clients of the collapsed Silicon Valley Bank (SVB), The Intercept reported on Tuesday.

It is March and that means it is Taste Washington Wine Month. Washington Wine's Interim Executive Director Chris Stone tells us about the month-long celebration!