Posted on 03/11/2023 2:50:06 PM PST by marcusmaximus
A head of risk assessment at the beleaguered Silicon Valley Bank has been accused of prioritizing pro-diversity initiatives over her actual role after the firm imploded on Friday.
Jay Ersapah - who describes herself as a 'queer person of color from a working-class background' - organized a host of LGBTQ initiatives including a month-long Pride campaign and implemented 'safe space' catch-ups for staff.
(Excerpt) Read more at dailymail.co.uk ...
‘The [SVB] Board of Directors is filled with diversity hires who are there because of their woke credentials.
‘They all have pronouns in their bios, which are filled with corporate newspeak.
‘The Head of Financial Risk and Model Risk Management was this nutbag: Jay Ersapah.
‘This is what happens when you allow people to manage your money based on woke principles instead of on their actual skill and competence.
‘I hope the depositors at this failed bank enjoy all of that diversity, because diversity is your strength, eh?’
I don’t get it. With that much diversity it should have been impossible to fail
Shirley, Trump must have caused this by some nefarious means
It was a success. One evil capitalist bank destroyed, public confidence in capitalism eroded.
i strongly suspect that this woke LGBTQWERETY+ dimwit wasn’t hired to ACTUALLY do anything regarding risk management, and instead was paid large salary and given the title “Head of Financial Risk Management and Model Risk” to anything she wanted to AND to IGNORE the insane, but completely obvious risks that this bank was engaged in ... any moron could see that banking only for a single extremely narrow sector and making gigantic, risky and stupid bets on interest rates staying low forever was a recipe for disaster ...
🤣🤣🤣🤣
Post of the thread!!!!!!
White woman...again.
The very fact that she prioritized woke crap ahead of risk management makes her a shoo-in.
“Insured depositors are their highest priority.”
SVB is mainly a business bank. I don’t know what fraction of their business (if any) is consumers.
LOTS of tech companies are not going to make their payroll to employees. If it goes on very long, employees lose confidence and leave. Then companies shut down and lay off the remaining employees. This could lead to the massive collapse of lots of small and medium size firms. Preventing that will be the highest priority.
Darn it...I just put 3 trillion dollars into SVB...You mean, I should have thrown it out the window?? 🤓
This is UK SVB, it is not afflicted by the same failure as the US SVB.
The UK SVB operates as a separate bank under UK banking regs and is still solvent.
USA SVB didn’t have a Chief Risk Officer during most of the run up to this failure. She quit sometime ago and was not immediately replaced.
Though, the US SVB was just as woke and really into ESG stuff too.
Got my son-in-law a ball cap for Christmas that said “FTX Asset Risk Management.” He thought it was hilarious. Now Redbubble artists can add “SVB Asset Risk Management” to their collection. At least someone will be making money from the SVB takeover. 🤣
I know I'm not supposed to take delight in someone else’s misfortune. But for the life of me I have a hard time feeling sympathy for liberals in California.
When they look at their passbook and it reads zero, they will have a new appreciation of woke.
Of course, FDIC will protect those with deposits up to $250,000; they are entitled to that.
And watch this freak show of low-I.Q. perverts show up at Congress next week demanding a bailout.
NO bailout to woke scum.
Conservative is a liberal who got mugged. Will a leftard who got swindled turn into a right-wing extremist?
Since most tech companies are a large majority woke those employees can consider their lost paychecks a contribution to the cause and their bonus is a huge virtue signalling anecdote they can tell people in the unemployment line.
“consider their lost paychecks a contribution to the cause”
LOL. That’s good thinking! They should be proud to lose a paycheck or two or three for the cause.
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