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Keyword: bankfails

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  • SVB loaned millions to useless startups making greenie things no one wanted to buy --WSJ's Strassel

    03/18/2023 9:10:11 AM PDT · by ProtectOurFreedom · 54 replies
    American Thinker ^ | March 17, 2023 | Monica Showalter
    Is there anything more Soviet than a bank that lends money to companies making things no one wants to buy? That's the missing puzzle piece on why Silicon Valley Bank went belly up, and Kimberly Strassel of the Wall Street Journal has found it: the failure of the bank was premised on ESG, which descended into wokester lending priorities, creating the abnormal conditions that left the bank ripe for a meltdown. Strassel: Most of these companies weren’t filling some vital market need. Rather, as the Journal reported, SVB was beloved for its willingness to offer “banking services to startups that...