Silicon Valley Bank is woke AND broke!

Why did Silicon Valley Bank fail? Because if you go woke, you go broke.

It’s a just a tad more complicated. According to the Daily Mail, SVB was investing money in low interest Treasury Bonds (or T-Bills). Then when interest rates started going up, SVB was losing money on the T-Bills while customers were withdrawing their money. Secondly, the bank was being ran like a charitable foundation. The bank received an A rating for Environmental, Social and Governance (ESG) policy. The bank pledged $5 billion for sustainability effort by 2027. The European branch had a month long pride celebration! The bank also funded many start up companies that were to help the environment. We see at all the solar subsidies, that most of these start ups are scams.

In house the bank pushing diversity equity and inclusion in every aspect of operations. SVB also gave Black Lives Matter $79 million!  It just didn’t include risk management as the bank was missing a Chief Risk Operator for eight months!

Let this be another lesson. Companies like Washington Mutual, Disney, Netflix, Facebook and Victoria’s Secret all lost money. Washington Mutual closed his doors. America is sick of investing their hard earned money for woke stuff!