![]() ![]() "Deposits of up to $250,000 were insured by the regulator. On Friday, the Federal Deposit Insurance Corporation took control of SVB's $175 billion in customer deposits. ![]() The big question is how soon will we be able to get access to the rest of the funds, how much if at all? That's absolutely scary," he said. "Everyone from my investors to employees to my own mother are reaching out to ask what's going on. Josh Butler, CEO of workplace safety analytics startup CompScience, was quoted as saying that he was unable to get his company's money out of the bank. "It managed the personal wealth of many tech executives and was a stalwart sponsor of Silicon Valley tech conferences, parties, dinners and media outlets," the report said. Those who are engaging in these predatory tactics, please remember: karma is real," Rajaram further posted.Īccording to The New York Times, SVB was a bank to more than 2,500 venture capital firms, including Lightspeed, Bain Capital and Insight Partners. Remember "prohibitionist forces are never far away, repeating old ideas which still have remarkable resonance."Hearing of some hedge funds preying on desperate companies and trying to buy out SVB deposits at well below cash. “We must protect our rural way of life from out-of-state and foreign interests that do not have the best interests of our state at heart,” OC President Byron Yeoman said in a preelection statement. In echoes of national Republicans’ messaging tying foreigners to crime and violence, both Oklahoma law enforcement and political lobbies said that MMJ provided cover for unsavory outsiders to jeopardize Oklahoma residents. Xenophobia was a big part of the opposition's message. The state Republican Party, the Oklahoma Farm Bureau and the Oklahoma Cattlemen’s Association all opposed the measure. Senator James Lankford, who deployed familiar arguments as well as market logic. Notably, the ONB's long-standing opposition to medical marijuana is well known, but in a recent white paper, the ONB claimed that legal MMJ poses “extreme challenges” that “unscrupulous actors and criminal enterprises have sought to exploit.” Similar concerns prompted nearly all of the state’s political establishment to oppose the adult-use measure. The agency claimed to have shut down more than 800 cannabis farms linked to organized crime, OBN Director Donnie Anderson said in a news release. Then, less than two weeks before Tuesday’s vote, the Oklahoma Bureau of Narcotics (ONB) said an investigation linked “multiple” MMJ farms to organized crime factions involved in sex trafficking and prostitution. went to the polls with only adult-use cannabis legalization on the ballot.Īnd it's extremely likely that a better turnout would have helped legalization.Īnd critics, particularly in rural areas, complained loudly of quality-of-life issues including rising crime and violence, a bell that state law enforcement officials rang repeatedly in the run-up to the election. ![]() Kevin Stitt pushed Question 820 to Tuesday’s special election.Īpparently, the special election is the first time voters in the U.S. When the Oklahoma Supreme Court declined to intervene, Gov. While it was supposed to be on the ballot during the regular election, the state had arguably delayed the ballot referendum process which resulted in a missed deadline. Remember how cannabis got to a Special Election in the first place. While Tuesday’s defeat in Oklahoma follows similar losses in November in Arkansas and the Dakotas, Oklahoma voters turned out to vote in abysmal numbers in both rural and urban areas.Īnd while some will say that it is a sign that America's heartland just isn't ready for adut-use cannabis, I'm not so sure. ![]() Yes, in a disappointing rejection of marijuana legalization, voters in Oklahoma appeared to soundly reject an adult-use measure in yesterday's special election. Oklahoma Voters Reject Adult-use Cannabis Legalization, But it Looks Like the Media's Xenophobic Narrative is the Real Winner Here! ![]()
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