Bernie Marcus: ‘Woke’ Silicon Valley Bank Was ‘More Concerned About Global Warming than Shareholder Returns’

Breitbart ^ | 12 Mar 2023 | PAM KEY

[Grampa Dave]

While Silicon Valley Bank collapsed, top executive pushed ‘woke’ programs!
By Katherine Donlevy, March 11, 2023

In addition to instituting SVB’s first “safe space catch-up” — which encouraged employees to share their coming out stories — and serving on LGBTQ+ panels around the world, Ersapah also spent time over the last year serving as a director for Diversity Role Models and volunteering as a mentor for Migrant Leaders.

Silicon Valley Bank
What is Silicon Valley Bank? Here’s what to know after sudden collapse

“I feel privileged to co-chair the LGBTQ+ ERG and help spread awareness of lived queer experiences, partner with charitable organizations, and above all, create a sense of community for our LGBTQ+ employees and allies.”

Ersapah couldn’t immediately be reached for comment.

SVB was abruptly shut down Friday by the California Department of Financial Protection and Innovation shortly after it disclosed it had taken a $1.8 billion hit from a $21 billion fire sale of its bond holdings.

It faced a cash crunch due to surging interest rates, and a recent meltdown in the tech sector led many customers to pare their deposits.

https://nypost.com/2023/03/11/silicon-valley-bank-pushed-woke-programs-ahead-of-collapse/