Libtards
They’re good at killing things
It certainly played a part. Only one person on the Board had any financial knowledge at all. How can a board that has very limited knowledge effectively run a bank? How many of the Board members were placed on the Board because of woke polices dictating the decisions to pick them? How many of them made decisions that created the problems?
The opinion piece was taken down by WJS following criticism from another agency, which can be seen as an act of censorship.
Reminds me of Interior Secretary James Watt's statement "I have a black, I have a woman, two Jews and a cripple. And we have talent."
When you toss out “merit” in hiring and replace with something that has nothing to do with doing the job well you will always get a less qualified person.
Being “gay”, trans, lesbian, black, brown, yellow, red, disabled, veteran etc is not a qualification to do anything!
The reason there is a saying “going woke going broke” is true is because once a business loses sight of what their purpose is (making a profit) they will soon begin the downward slide into failure.
Here’s SVG’s report of being in compliance with the WEF’s ESG’s requirements
https://www.svb.com/globalassets/library/uploadedfiles/wef-index-2022.pdf
Not ‘wokeness’, IGNORANCE.
It is ignorance of the highest order to believe that investing real money into fake, emotionally based junk schemes will actually be a good thing.
This is Pointy-Haired Boss from Dilbert thinking................
Huh?
Wokeness is more than just an idea?
I thought there were actual people responsible for the failures. I guess that is just a quaint and outdated way of assigning responsibility./s
These were a bunch of rich wokey jokers who were not even serious about running a bank. The only adult, apparently, was Joe Gentile, who helped engineer the collapse of Lehman Brothers back on 2007. This is what the whole country has to look forward to as millennial gobshytes take over everything.
Poor management and inflation did them in.
Here’s the guy who ran Signature Bank which also failed:
Scott A Shay. Carlson featured him on his show last night, the wokester who made videos about pronouns:
Board chosen to be chocked with POCs and I don’t mean People Of Competence.
You don’t want an operating room full of affirmative action, diverse doctors. Same goes for a bank, or any other company’s boardroom.
Wokeness is just the new brand name for totalitarian communism and using lots of useful idiots to implement.
“SVB notes that besides 91 percent of their board being independent and 45 percent women, they also have ‘1 Black,’ ‘1 LGBTQ+,’ and ‘2 Veterans.”
And 100% woke.
“Go woke go broke” sure applies here
CRYPTO is in the center of this mess, also.
WSJ wants plebes to believe that it was ESG that caused SVB’s demise rather than being caused by the hubris of our so-called elite.
This plebe is not buying it.
Corporate ESG is surface level PR, SVB died because the supposedly smartest-people-in-room screwed the pooch.
And it was bailed out on the backs of the middle-class because “Maverick” brutally libertarian VC’s cried and begged their buddies at the FDIC to save them.
I heard this morning that they had one banker on the board.
ONE.