It really is eye opening to see this chart.
To look at it and realize just exactly how few accounts are covered by the fabled FDIC.
Why are some banks with higher percentages shown in red? It would seem they are less at risk than many below them. What am I missing?
And to get an even better sense of SVB’s DEI footprint, we might consider this (now deleted) tweet from one Christina Qi, who identifies herself as a former hedge fund CEO:
"The SVB collapse has been devastating in more ways than one: They supported women, minorities, & the LGBTQ community more than any other big bank. This includes not just diverse events, but actual funding. SVB helped us move one step forward; without them, we move two steps back."
One sharp tweeter responded, “Maybe other banks will take a look at this failure and realize they need to do actual banking instead of virtue signaling.”
Too much of this has infected business today.
