Posted on 03/11/2023 8:15:09 PM PST by Olog-hai
Silicon Valley Bank, which was shuttered by US regulators yesterday, has been operating in Ireland since 2012.
SVB’s lending to Irish technology and life science companies reached $226 million by the end of 2018. The bank then said it would lend an additional $300 million to Irish firms by 2024, as part of a collaboration with the Ireland Strategic Investment Fund (ISIF). However, ISIF has said it has no role in providing loans issued by Silicon Valley Bank to Irish technology businesses.
“Certainly, Silicon Valley Bank were an important bank for this sector; there’s no doubt about that,” Brian Fennelly, a Partner in Deloitte’s Debt & Capital Advisory team said. He estimated it had “upwards of 100 plus borrowers” here. […]
“We’re a venture-backed start up; the venture capitalists like you to use SVB,” Chief Executive of cosmetic treatment chain Sisu Clinic Pat Phelan explained, describing SVB as “the start-up bank” which was “entrenched into that ecosystem”.
Sisu Clinic remains a SVB customer, but Mr. Phelan said the group, which had millions on deposit with the bank, withdrew all but an insured sum of $250,000 hours before the bank collapse amid concerns over its plummeting share price last week. …
(Excerpt) Read more at rte.ie ...
ESG kills.
Suckas.
This was apparent after just hearing what ESG was the first time. Now two days into the 2023 Bank and Financial Crisis we have the first example. The mainstream media hasn’t done any negative stories on woke bank failures yet. I wonder by the end of next week and several more failures they will still be ignoring it. Probably so, and they will try to find a reason why Trump caused the failures.
This is an opportunity to squash all this woke and climate BS. The message is very simple. Woke businesses that focus on ESG, LGBTQ+, black Lives Matter, and any identity based causes are not focused on their core mission to increase shareholder wealth. It leads to failure. It has end and end everywhere. It applies to our military. Focusing on woke really ends in death. It applies to government. Services are not effectively delivered when government is woke. It applies to schools. Children don’t learn. And sadly it applies to too many churches. Souls are not saved.
Individuals have to stand up and say no it and refuse to comply - even at work. Don’t worry about losing your job over being anti-woke. You’ll lose it anyway if you have a woke employer. They will fail if you do nothing.
They have a pattern Jim
That’s what they get for being dumb enough to invest in an ESG bank. Actuaries are anathema to ESG.
You can really only focus on one thing at a time.
No man can serve two masters for he will love the one and hate the other.
In days past I worked for companies that had rules against side gigs. This especially applied for salaried employees. There was no “my time” for anything but recreation, worship and family. There was a reason for that. In exchange for your income you had a potentiall 24/7 obligation and they wanted no conflicts when that was called upon.
Ireland right now is saturated in ESG. They even have the rainbow flag flying over the general post office on O’Connell Street in Dublin, as well as painted on the street in crosswalks.
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