Posted on 03/16/2023 2:49:49 AM PDT by george76
It's no surprise that a bank focusing on woke politics failed, former Acting Director of National Intelligence Ric Grenell
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"whenever you have an administration that is going to completely concentrate on diversity, equity, [and] inclusion-type of programs, you're going to have a huge problem."
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this small bank had 1,500 climate-related loans.
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The New York Times reported that Silicon Valley Bank issued billions of dollars to more than "1,550 technology firms" working in areas such as solar, "hydrogen and battery storage projects."
According to the CEO of Arcadia, the largest community solar manager in the country, Kiran Bhatraju, "Silicon Valley Bank was in many ways a climate bank. When you have the majority of the market banking through one institution, there's going to be a lot of collateral damage."
(Excerpt) Read more at newsmax.com ...
Woke Politics Led to SVB’s Demise
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That, and everything it represents, is going to lead to USA’s demise. TAKE IT TO THE BANK!
I don’t know how SVB could do business in that area without making loans to politically backed Moonbats. They would have been crushed earlier.
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