Posted on 03/15/2023 6:29:05 PM PDT by devane617
A growing chorus of conservative pundits and politicians have said the failure of Silicon Valley Bank was the result of the bank’s “woke” policies, blaming the California lender’s commitments to workplace diversity and environmentally and socially conscious investments.
These claims are without merit. The bank’s collapse was due to financial missteps and a bank run.
Moreover, the firm’s policy on diversity, equity and inclusion — also known as D.E.I. — is similar to ones that have been broadly adopted in the banking sector. So is its approach to taking environmental and social considerations into account when investing — referred to as E.S.G. — although that has become a target of conservatives.
In fact, Silicon Valley Bank is considered about average in the industry when it comes to these issues.
(Excerpt) Read more at nytimes.com ...
Good to know!
Uh, wokeness IS a negative factor in remaining a viable organization.
Attention to DEI WILL cause an organization to DIE.
When people quit reading the New York slimes guess it won’t have anything to do with it’s woke agenda.
The writer did the left no favors. Saying “all banks are doing the woke thing and they haven’t failed YET” (paraphrasing) isn’t giving anyone any comfort.
Hey NY Times.
That DEI score goes both ways. If anybody even cares about it, my business is gone.
Well, when you focus on DIE etc instead of trying to hire someone to handle risk analysis, yeah, you fail.
Well it is from the NYT so you know that is a either a flat out lie or propaganda. So that part is nice....
Article intentionally misses the point that the Chief Risk Officer got the job due to gender, sexual orientation and political affiliation “checking the ESG boxes” rather than any experience or expertise (or basic knowledge?) in risk management or banking.
Well it is from the NYT so you know that is a either a flat out lie or propaganda. So that part is nice....
The problem with business these days isn’t so much being woke, it’s a lack of focus. Replace woke with anything you want and results are just as bad. These people do not know rigor. Their educations suck. They have been mollycoddled all their lives. I’m so glad I am retired now. It was insufferable for the last five years of work. I can’t imagine how bad it is now.
So in fact, yes, wokeness was the cause.
Not only that, but the claims were DEBUNKED, too. Furthermore, they are a conspiracy theory by Nazi sympathizers.
The CRO job was vacant from April 2022-January 2023. The woman in the U.K. wasn’t the CRO.
https://freerepublic.com/focus/f-news/4138238/posts
lol
In a world we’re there are no consequences for bad behAvior, you get this and more of it.
Capitalism without failure is like religion yada yada yada
But they can't have it both ways - they can't wear leftism like a badge of honor and a corporate strength when you're in business, then hide it and act like it was no biggie when they fail.
False. Those claims are all well-evidenced. Nice try, NYTs.
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