Joe Biden’s Green Energy Buddies Have Major Ties To Silicon Valley Bank
A small and barely known bank called Silicon Valley Bank (SVB) got in trouble and required a government bailout. Joe Biden, who won the nearby city where the bank resides by almost 50 points, made an announcement that the US government would bail out the bank. This is in contrast to a catastrophic train derailment and toxic fires that happened in Ohio, a state carried by Trump by 29 points, where Biden has not shown up nor acknowledged the pleas of the residents.
It’s apparent that the urgency in bailing out the bank has been driven by the bank’s ties to climate companies, something that President Biden and his climate buddies give top priority. Silicon Valley Bank is a bank that has served dozens of climate and energy-tech companies, issuing billions of loans in support of large-scale, one-off projects that are essential for the sector. Many of Biden’s eco-friends are associated with these climate companies.
It’s worth noting that just recently, SVB sponsored a global conference on energy transition called “Winterfest” where Galvanize Climate Solutions, tied to billionaire Tom Steyer, was also a sponsor. Steyer played a crucial role in a Zoom fundraiser for Biden that helped raise $4 million. Many of the donors are from Silicon Valley and have deep pockets. These connections seem to have helped Biden reach out to Steyer’s world while finding someone to manage $369 billion of taxpayer funds for green investments.
Lowercarbon Capital is another company with close ties to SVB. Its managing partner is a passionate ally of Biden and Harris and was part of the campaign’s National Finance Committee. The partner is also a member of Climate Leaders for Biden.
Another company said to have a strong connection with SVB is Sunrun Solar, which received millions of dollars from the bank to arrange loans for more than half a billion dollars just a few months ago. Sunrun’s CEO joined Biden during the Inflation Reduction Act signing and declared his support for the act.
Newsom, who owns wine companies reportedly held by SVB, praised Biden’s move to bail out the bank. An SVB Bank President also sits on the board of a charity run by Newsom’s wife.
All these connections seem to indicate that the government’s actions are driven by the bank’s affiliation with Biden’s eco-friends and climate companies. Unfortunately, the people of East Palestine are left without any answers.
Larry Behrens is the Communications Director for Power The Future and has made appearances on various news shows. Follow him on Twitter at @larrybehrens or email at [email protected].
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