Woko Whacko: the new Wango Tango.
Replace it with broke
A skunk by any other name would smell as bad.
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?
I prefer wokeshevik.
I remember a reporter once asked Joe Frazier why he insisted on calling Muhammed Ali "Cassius Clay". He just smiled and said, "Because it makes him mad!"
OH NO!
leftists p0wn “woke”.
May they gag on a spoonful of it.
I agree, it should be called radical leftism.
“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...”
This is talk around for we won’t admit to all the different things that caused it and are still trying to hide it.
The bank held a high percentage of government failing bonds that plunged in value as the Federal Reserve increased interest rates. Customers of SVB were withdrawing their deposits beyond what it could pay using its cash reserves, and so to help meet its obligations the bank decided to sell $21 billion of its securities portfolio at a loss of $1.8 billion.
The Federal Reserve has changed its policy stance considerably in the last few months in reaction to elevated inflation and a strong lack of recovery in the labor market. Financial markets now point to about five 25 basis point interest rate hikes in 2022, in contrast with less than one predicted as recently as September 2021. And that inflation was the product of the Biden administration’s failure at foreign and domestic policy control. High inflation can be attributed in part to supply chain issues, steady demand, and energy uncertainty. The Federal Reserve has raised interest rates to combat inflation.
Tack that on to the Biden support of the unions which caused the supply line shortages concerning receipt of overseas products, and you have created a literal financial bomb in your lap.
wy69
That word woke, was the word they chose to define themselves, we will honor the definition they provided of themselves, but not their pronouns. 🙂
they tried to retire fake news too
just made it more popular
“The Wall Street Journal has no idea what it is talking about in finance. “
- Washington Monthly.
When they start complaining about people using a term they invented, it’s a good sign.
Nah… we’re just getting started
Woketard it is, then..
“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”
oh, good grief, what a crock of bullshite ...
we know PRECISELY what happened and why: it was a good ol’ fashioned bank run caused by a flash panic when thousands of depositors tried to withdraw all of their money all at the same time with just a couple of clicks of their keyboards ...
depositors suddenly realized the banks wouldn’t have enough money to pay them all of their money back because the banks invested in bonds that collapsed in value because the banks bought said bonds back when interest rates were zero because Biden was giving away trillions of dollars in free money, but then the Federal Reserve panicked and started raising rates like crazy trying to stem the resulting inflation, but instead caused the banks’ bonds to be worth billions less than what the bank paid for them ....
the banks got caught in the Biden Trap because they were stupid bankers who were focused on proving how woke they were instead of focusing on risk management, that is, on all of things that could possibly go wrong and the actions they should take so those things wouldn’t go wrong ...
What, 10,000 words to say: “Only we get to use words like cudgels. Not you! Mommy mommy mommy!!!”
Woke ….. is there a woke teeshirt ? I be woked !!! Staying asleep will be healthier !!!
Matthew Pooper