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1 posted on 03/14/2023 9:37:04 AM PDT by Beowulf9
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To: Beowulf9

ESG is a leftist, rich-country fantasy - enabled by printed, fiat currency, having a world’s reserve currency and especially - zero interest rates.


2 posted on 03/14/2023 9:41:41 AM PDT by PGR88
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To: Beowulf9

As chairman of the House Oversight Committee, it is your duty to ZERO out the White House Budget to pay for this Billionaire Bailout, Maybe the FBI could have their budget ZEROED out also to help...


3 posted on 03/14/2023 9:42:58 AM PDT by eyeamok (founded in cynicism, wrapped in sarcasm)
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To: Beowulf9

> Here’s what to know.

Comrades! This is the official party policy. Forward Soviet!


4 posted on 03/14/2023 9:47:32 AM PDT by glorgau
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To: Beowulf9

Making money is hard to do, just try it.

No wonder the elites would rather focus on ESG.


5 posted on 03/14/2023 9:48:01 AM PDT by Kenny500c ( )
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To: Beowulf9

MSN is a bulwark for The Ministry of Truth.

Their internet homepage screams bizarre, new accusations against Donald Trump several times a day....every, single day.


6 posted on 03/14/2023 9:52:02 AM PDT by BrexitBen
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To: Beowulf9

ESG policies didn’t have anything to with former Lehman execs bringing down another bank.

They took unseemly risks so they could keep their clients/depositors happy.

Those depositors accepted this risk in exchange for favorable interest and VIP treatment that wasn’t available to them at well run banks.

Now that their risky bank has failed, they will be made whole by middle class Americans AKA taxpayers.


7 posted on 03/14/2023 9:56:31 AM PDT by 13foxtrot
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To: Beowulf9

Another go woke and go broke?


8 posted on 03/14/2023 9:59:20 AM PDT by antidemoncrat
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To: Beowulf9

Corrupt white liberal ‘elites’ take care of their own... next the corrupt DOJ and FBI will ‘investigate’ and discover these criminal banksters are totally innocent.

And that the border is secure... and inflation is transitory and Hunter’s laptop is Russian Disinformation.

A pox on all fools who put Biden in office.


9 posted on 03/14/2023 9:59:54 AM PDT by GOPJ (Biden: The Banking system is safe. The borders are secure. Hunter's laptop is disinformation.)
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To: Beowulf9

Where did the billions of dollars withdrawn before the crash go?


10 posted on 03/14/2023 10:04:19 AM PDT by mountainlion (Live well those that did not make it back.)
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To: Beowulf9

And, every bank that follows is the same.

Go woke-—well, you know, the thing.


11 posted on 03/14/2023 10:14:58 AM PDT by bobbo666 (Baizuo)
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To: Beowulf9

They aren’t solely blaming ESG. They also understand economics where as the left doesn’t. They know high inflation led to higher interest rates which screwed up the bond market and force the bank to take a huge loss.

Meanwhile the bank didn’t have a risk officer that could have pointed this out to them, but instead was wasting money and focus on ESG programs.


12 posted on 03/14/2023 10:15:43 AM PDT by for-q-clinton (Cancel Culture IS fascism...Let's start calling it that!)
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To: Beowulf9

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/


13 posted on 03/14/2023 10:17:34 AM PDT by Grampa Dave (https://www Democrats Have All ready Won the 2024 Election, Regardless of Whom, Either Party Runs!!!)
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To: Beowulf9

The primary cause of failure was the mismanagement of their balance sheet. Using long term assets to cover short term liabilities is stupid and incompetent. The bank examiners should have been all over these idiots.


14 posted on 03/14/2023 10:24:31 AM PDT by Jimmy Valentine (DemocRATS - when they speak, they lie; when they are silent, they are stealing the American Dreams)
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To: Beowulf9

Though I have plenty of negative things to say about ESG, the entire exercise of blame-seeking wrt Silicon Valley Bank is entirely misplaced, IMO, and the GOP’s efforts to counter the completely stupid gyrations of the left trying to blame this on Trump is not a level of stupid to aspire to nor compete with. Especially for such a PR-clumsy bunch such as the GOP.

SVBs’ losses are vastly, overwhelmingly due to its management buying 10-year US Tsy bonds (as a way to park excess cash) in the face of promised, sworn-to bumps in interest rates that Powell declared. I mean, that is an utterly inane strategy, absolutely guaranteeing huge losses. It is true that the money center banks parked short term bailout money in T-bills after the 2007-2009 crisis. The Fed was not at all pleased with this, they wanted the money to be shoved into the economy. But there is a hell of a lot of difference buying 30 day or 6 months Tsys securities versus buying 10-years. Many people think bonds are “stable” “non-volatile” investments. Nothing could be farther from the truth, and how bank execs did not know this is unfathomable. Bonds can be CRAZY volatile at times and are capable of showing ENORMOUS face losses over interest rate hikes. But see, this hasn’t happened for a decade or so, so we forget. I will never understand how the SVB execs could have been so oblivious to this.


15 posted on 03/14/2023 10:47:17 AM PDT by Attention Surplus Disorder (Apoplectic is where we want them)
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To: Beowulf9

This SVB wasted a whole month celebrating Pride garbage. They were also the largest local financier of “climate” startups. They spent too much time on virtue signalling. Normal banking was not their Forte. Buggery and climate change was.


19 posted on 03/14/2023 11:33:40 AM PDT by dennisw
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To: Beowulf9

It may or may not have been ESG directly, but it is clear that they both donated a lot of money, and put a lot of their employee and management resources into ESG things - instead of running a business.


20 posted on 03/14/2023 11:59:24 AM PDT by lepton ("It is useless to attempt to reason a man out of a thing he was never reasoned into"--Jonathan Swift)
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To: Beowulf9

Diversity & Equity = Equal Incompetence

Strikes again and again and again.............................


21 posted on 03/14/2023 2:06:04 PM PDT by Vaduz (LAWYERS )
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