Seems to be quite a number of things the author doesn’t know but is more than willing to imply. Exonerating Wokeness and blaming Trump for the SVB failure were only the first of many. I don’t know for sure if Cooper is a drug-addicted child-molesting axe murderer with halitosis, but that’s just the sort of thing a drug-addicted child-molesting axe murderer with halitosis would say, isn’t it?
We don’t know precisely what caused this financial institution to go from being the hot bank for the tech set to a puddle of assets that, at the time of this writing, no one wants to buy.
...buuuuuuut
One thing we do know about SVB is that it did not go broke because of what’s been lampooned as woke policies.
For the record, there has been a lot of sloppy reporting on SVB's risk function. I believe the wokeness of their UK risk woman getting all the attention (who, as far as I can tell, didn't make ALM decisions) has little bearing on their c-suite mismanagement. This was clearly a function of a bank with a CFO who can't duration-match assets and liabilities, hedge interest rate risk, or take action, a non-existent CRO, lumpy and non-sticky deposits, and a zillion other things.
Did preoccupation with wokeness do them in? I doubt it. But you can't have it both ways - you can't wear leftism like a badge of honor and a corporate strength when you're in business, then hide it and act like it was no biggie when you fail.
THAT is what leftists do...they discard the elderly, babies, minorities, and anything that no longer serves their needs. "Woke" must die now.
Well...I got news for you, Matthew ..... WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke Woke WOKE woke...