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Now we know the cause of the recent bank failure .

That takes [b][i]go woke and go broke[/i][/b] to a completely different level of stupidity .
can't keep up with all this. It's bank collapse season and I still have my train derailment decorations up
TexChik · F
And now there is this:
HoraceGreenley · 56-60, M
@PatKirby So they are both incompentent and dirty
PatKirby · M
Don't know which is worse.
TexChik · F

This is for the woke joke who claimed Tucker Carlson was lying about this when he reported it.
Im waiting for the left to discredit it only because they hate Tucker Carlson, Fox News. They wont do their homework on what was said unfortunately.
@TallMtnMedic They are already lining up to blame Trump. But wait until you see the woke morons on the board of directors. Virtually no one with any banking experience.
@TallMtnMedic One guy with actual banking experience, and a bunch of democrat donors. What could possibly go wrong?
PatKirby · M
The head of Risk Assessment at the bank, Jay Ersapah, spent more time pushing woke non-bank related initiatives than doing the job she was hired to do. Now SVB is the second largest bank to fail. But hey at least they have diversity, inclusiveness, and equity. The run on the bank was swift.

Got my money at a local credit union. The savings rate is not high but at least they have common sense and don't treat it like Monopoly money. It's like these people are playing with toys as they try to build utopia by putting the cart before the horse.
HoraceGreenley · 56-60, M
Go Woke Go Broke is right. SVB completely mismanaged their risks in a riging interest rate environment. This bank also ranks at the top of companies in DEI hiring. That and the political donations didn't save them.
cherokeepatti · 61-69, F
@HoraceGreenley SVB has been linked to Biden and China too.
Iwantout · 26-30, M
I'll be glad when people pop their heads out of their asses and realize blm is a terror organization
TexChik · F
@Iwantout And that the NBA supports them monetarily
LetsGoBrandon · 31-35, M
What I want to see is Google Suffer until it's destroyed. I won't sleep until does
Magnolia21 · 18-21, F
So, first the story was, "no, they didn't go woke! They just gave everyone a chance!" Now, it's, "Okay, so maybe they mismanaged funds and triggered a very bad thing in an unstable economy."

Can't they just admit the bank used shitty practices?
TexChik · F
@Magnolia21 The bank was where China converted and used US currency .
HoraceGreenley · 56-60, M
@Magnolia21 Yes but they also tried to buy political protection with campaign donations. This bank also was heavily inot DEI hiring practices.

PatKirby · M
@Magnolia21 That's called moving the goalposts. That way they fool themselves into thinking they're not responsible for their actions, after all it was just Monopoly money.
Any bank that ignorant needs to fail!
Coldplay · 56-60, M
It’s all Trump’s doing.
@Coldplay I'm sure Trump told them to put a bunch of democrat donors with no banking experience on the board of directors, donate $73 million to BLM and hold long term bonds in a rising interest rate environment.
@Coldplay hardly!
Here's a piece on SVB's board of directors. Note the woke incompetence. Imagine holding a substantial long term bond portfolio in a period of rising interest rates. 🙄

gol979 · 41-45, M
This narrative doesnt really stack up......are there any "woke" companies/banks that are pulling in a massive profit? Yep. Does that mean "go woke, go rich"?
Catzgano · 26-30, F
I don’t believe anything that guy says anymore
Well, at least they failed with a diverse team. Lol
That’s pure Stupidity….

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