Zone1 Are Banks failing because they are valuing woke diversity over performance? It appears yes.

[Mr. Friscus]

Failed Silicon Valley Bank (SVB) has been hit with accusations that it was hyper-focused on so-called diversity, equity, and inclusion (DEI) initiatives and generally managed poorly.

SVB reportedly failed to have someone in charge of risk assessment for some eight months, until January of this year, while the person in charge of risk assessment in the U.K. allegedly prioritized “pro-diversity initiatives” while neglecting her actual role, according to a Daily Mail report.

The bank has pages on its website dedicated to showing off its DEI initiatives and “workforce diversity.”

“An inclusive workplace expands opportunities for everyone,” the site reads, captioning the charts below. “SVB benefits from a diverse workforce and we aim to continue to increase diverse representation at all levels of the company.”

Failed SVB Criticized For Hyper-Focus On Woke DEI Initiatives, LGBT Activism | The Daily Wire

www.dailywire.com

LMAO!

Republican Congressfolk pressed high ranking woke military heads on this not too long ago. If the leaders of places are spending so much time on diversity/inclusion/(insert vague/meaningless woke buzzword here), doesn't that take away from time spent focusing on what is most important (aka function)?

Well.. it turns out, the answer is Yes.

These banks sadly have an effect on the ecominic environment. Much like dirty companies that overpollute, they are causing bad things on the ecomony based on their choices to focus on leftist ideology rather than the economy and banking principles. So sadly while they may go under, they pollute innocent people's lives with their filth.

Let's hope this is a wake up call.. there's a LOT of policital activism in American institutions that we used to think weren't capable of promoting.

 

[progressive hunter]

Failed Silicon Valley Bank (SVB) has been hit with accusations that it was hyper-focused on so-called diversity, equity, and inclusion (DEI) initiatives and generally managed poorly.

SVB reportedly failed to have someone in charge of risk assessment for some eight months, until January of this year, while the person in charge of risk assessment in the U.K. allegedly prioritized “pro-diversity initiatives” while neglecting her actual role, according to a Daily Mail report.

The bank has pages on its website dedicated to showing off its DEI initiatives and “workforce diversity.”

“An inclusive workplace expands opportunities for everyone,” the site reads, captioning the charts below. “SVB benefits from a diverse workforce and we aim to continue to increase diverse representation at all levels of the company.”

Failed SVB Criticized For Hyper-Focus On Woke DEI Initiatives, LGBT Activism | The Daily Wire

www.dailywire.com

LMAO!

Republican Congressfolk pressed high ranking woke military heads on this not too long ago. If the leaders of places are spending so much time on diversity/inclusion/(insert vague/meaningless woke buzzword here), doesn't that take away from time spent focusing on what is most important (aka function)?

Well.. it turns out, the answer is Yes.

These banks sadly have an effect on the ecominic environment. Much like dirty companies that overpollute, they are causing bad things on the ecomony based on their choices to focus on leftist ideology rather than the economy and banking principles. So sadly while they may go under, they pollute innocent people's lives with their filth.

Let's hope this is a wake up call.. there's a LOT of policital activism in American institutions that we used to think weren't capable of promoting.

 

[Mr. Friscus]

There are SO many people in high places who believe in their ideology over the success of their institution.. and think that they'll be a martyr for failing. It's a millenial/GenZ thing I think. Inject your politics into EVERYTHING, and then if you go broke, it's because everyone else was evil.

 

[Hurricanelover]

Nope, it is because you republicans and Donald Trump back in 2018 ended portions of dodd frank. Remember? Your lust to deregulate the banks always turns out badly as it did with the deregulation that allowed for 2008.

Republicans need to just stop!

 

[Mr. Friscus]

Nope, it is because you republicans and Donald Trump back in 2018 ended portions of dodd frank. Remember? Your lust to deregulate the banks always turns out badly as it did with the deregulation that allowed for 2008.

Republicans need to just stop!

So a bank putting massive time and money into diversity wasn't the banks fault.. but Trump's fault?

LMAO

 

[CrusaderFrank]

Failed Silicon Valley Bank (SVB) has been hit with accusations that it was hyper-focused on so-called diversity, equity, and inclusion (DEI) initiatives and generally managed poorly.

SVB reportedly failed to have someone in charge of risk assessment for some eight months, until January of this year, while the person in charge of risk assessment in the U.K. allegedly prioritized “pro-diversity initiatives” while neglecting her actual role, according to a Daily Mail report.

The bank has pages on its website dedicated to showing off its DEI initiatives and “workforce diversity.”

“An inclusive workplace expands opportunities for everyone,” the site reads, captioning the charts below. “SVB benefits from a diverse workforce and we aim to continue to increase diverse representation at all levels of the company.”

Failed SVB Criticized For Hyper-Focus On Woke DEI Initiatives, LGBT Activism | The Daily Wire

www.dailywire.com

LMAO!

Republican Congressfolk pressed high ranking woke military heads on this not too long ago. If the leaders of places are spending so much time on diversity/inclusion/(insert vague/meaningless woke buzzword here), doesn't that take away from time spent focusing on what is most important (aka function)?

Well.. it turns out, the answer is Yes.

These banks sadly have an effect on the ecominic environment. Much like dirty companies that overpollute, they are causing bad things on the ecomony based on their choices to focus on leftist ideology rather than the economy and banking principles. So sadly while they may go under, they pollute innocent people's lives with their filth.

Let's hope this is a wake up call.. there's a LOT of policital activism in American institutions that we used to think weren't capable of promoting.

Well, why the fuck should they get bailed out?

 

[EvilCat Breath]

SVB didn't fail because of regulation. It failed because of a lack of liquidity. It did not have reserves to overcome the damage the inflation caused. Inflation rose, people started using their money. Without bidenflation SVB would have been just fine. The damage can't be fixed because diversity was valued over ability.

 

[Deplorable Yankee]

Speaking of ‘splaining, SVB officials will need to answer a lot of questions, including, What role did wokeness play in SVB’s failure?

Another term for wokeness, of course, is ESG, which stands for environmental, social, and governance. ESG is a pertinent question, as there’s a considerable body of economic literature showing that woke investments aren’t good investments. For instance, one study by professors at the London School of Economics and Columbia University finds that:

ESG funds appear to underperform financially relative to other funds within the same asset manager and year, and to charge higher fees. Our findings suggest that socially responsible funds do not appear to follow through on proclamations of concerns for stakeholders.

…

Read more: Pinkerton: Green, Woke, and Now Broke — How SVB Became the 2nd Biggest Bank Failure in U.S. History

 

[themirrorthief]

Nope, it is because you republicans and Donald Trump back in 2018 ended portions of dodd frank. Remember? Your lust to deregulate the banks always turns out badly as it did with the deregulation that allowed for 2008.

Republicans need to just stop!

yeah dont blame biden he is just a powerless senlie old clown cant do shit about anything needs dr Jill to change his depends

 

[1srelluc]

Nope, it is because you republicans and Donald Trump back in 2018 ended portions of dodd frank. Remember? Your lust to deregulate the banks always turns out badly as it did with the deregulation that allowed for 2008.

Republicans need to just stop!

Oh, you mean the bipartian deregulation Bill that Barney Frank lobbied his old dem colleges' to support?

You know, the same Barney Frank that sat on the board of one of the banks (Signature) that failed.

 

[Dekster]

Failed Silicon Valley Bank (SVB) has been hit with accusations that it was hyper-focused on so-called diversity, equity, and inclusion (DEI) initiatives and generally managed poorly.

SVB reportedly failed to have someone in charge of risk assessment for some eight months, until January of this year, while the person in charge of risk assessment in the U.K. allegedly prioritized “pro-diversity initiatives” while neglecting her actual role, according to a Daily Mail report.

The bank has pages on its website dedicated to showing off its DEI initiatives and “workforce diversity.”

“An inclusive workplace expands opportunities for everyone,” the site reads, captioning the charts below. “SVB benefits from a diverse workforce and we aim to continue to increase diverse representation at all levels of the company.”

Failed SVB Criticized For Hyper-Focus On Woke DEI Initiatives, LGBT Activism | The Daily Wire

www.dailywire.com

LMAO!

Republican Congressfolk pressed high ranking woke military heads on this not too long ago. If the leaders of places are spending so much time on diversity/inclusion/(insert vague/meaningless woke buzzword here), doesn't that take away from time spent focusing on what is most important (aka function)?

Well.. it turns out, the answer is Yes.

These banks sadly have an effect on the ecominic environment. Much like dirty companies that overpollute, they are causing bad things on the ecomony based on their choices to focus on leftist ideology rather than the economy and banking principles. So sadly while they may go under, they pollute innocent people's lives with their filth.

Let's hope this is a wake up call.. there's a LOT of policital activism in American institutions that we used to think weren't capable of promoting.

SVB failed because it was too exposed to a single sector and was too generious in lending to start ups no other bank would give a free toaster to.

 

[1srelluc]

SVB failed because it was too exposed to a single sector and was too generious in lending to start ups no other bank would give a free toaster to.

LOL.....I remember those days! And double green stamps too!

 

[Viktor]

Failed Silicon Valley Bank (SVB) has been hit with accusations that it was hyper-focused on so-called diversity, equity, and inclusion (DEI) initiatives and generally managed poorly.

SVB reportedly failed to have someone in charge of risk assessment for some eight months, until January of this year, while the person in charge of risk assessment in the U.K. allegedly prioritized “pro-diversity initiatives” while neglecting her actual role, according to a Daily Mail report.

The bank has pages on its website dedicated to showing off its DEI initiatives and “workforce diversity.”

“An inclusive workplace expands opportunities for everyone,” the site reads, captioning the charts below. “SVB benefits from a diverse workforce and we aim to continue to increase diverse representation at all levels of the company.”

Failed SVB Criticized For Hyper-Focus On Woke DEI Initiatives, LGBT Activism | The Daily Wire

www.dailywire.com

LMAO!

Republican Congressfolk pressed high ranking woke military heads on this not too long ago. If the leaders of places are spending so much time on diversity/inclusion/(insert vague/meaningless woke buzzword here), doesn't that take away from time spent focusing on what is most important (aka function)?

Well.. it turns out, the answer is Yes.

These banks sadly have an effect on the ecominic environment. Much like dirty companies that overpollute, they are causing bad things on the ecomony based on their choices to focus on leftist ideology rather than the economy and banking principles. So sadly while they may go under, they pollute innocent people's lives with their filth.

Let's hope this is a wake up call.. there's a LOT of policital activism in American institutions that we used to think weren't capable of promoting.

The SV Board was packed with Democrats

 

[busybee01]

Failed Silicon Valley Bank (SVB) has been hit with accusations that it was hyper-focused on so-called diversity, equity, and inclusion (DEI) initiatives and generally managed poorly.

SVB reportedly failed to have someone in charge of risk assessment for some eight months, until January of this year, while the person in charge of risk assessment in the U.K. allegedly prioritized “pro-diversity initiatives” while neglecting her actual role, according to a Daily Mail report.

The bank has pages on its website dedicated to showing off its DEI initiatives and “workforce diversity.”

“An inclusive workplace expands opportunities for everyone,” the site reads, captioning the charts below. “SVB benefits from a diverse workforce and we aim to continue to increase diverse representation at all levels of the company.”

Failed SVB Criticized For Hyper-Focus On Woke DEI Initiatives, LGBT Activism | The Daily Wire

www.dailywire.com

LMAO!

Republican Congressfolk pressed high ranking woke military heads on this not too long ago. If the leaders of places are spending so much time on diversity/inclusion/(insert vague/meaningless woke buzzword here), doesn't that take away from time spent focusing on what is most important (aka function)?

Well.. it turns out, the answer is Yes.

These banks sadly have an effect on the ecominic environment. Much like dirty companies that overpollute, they are causing bad things on the ecomony based on their choices to focus on leftist ideology rather than the economy and banking principles. So sadly while they may go under, they pollute innocent people's lives with their filth.

Let's hope this is a wake up call.. there's a LOT of policital activism in American institutions that we used to think weren't capable of promoting.

None of that is true. SVB bet heavily on government bonds and it came back to bite them when interest rates rose. It had nothing to do with any political agenda. There is absolutely nothing wrong with diversity. The military is right to promote diversity because the military is very diverse. It is sad there are so many people in this country try to make it a dirty word. What is also sad is so maqny people use the word woke and it is clear that they have no clue what it is. Want to shut up a rightwinger? Ask them what it means to be woke. They will do verbal gymnastics trying to define it.

Also the banking deregulation bill that was passed by Republicans and signed by Trump also led to the collapse. SVB was exempted from having to undergo stress tests. One of the criteria that is used is higher interest rates. Had this been done, the problems might have been caught sooner. Republicans have cost this country billions of dollars.

“I don’t have a clear idea of what woke is, and it seems to change by the day. Maybe government bonds are now woke, but that is what got them into trouble,” Dean Baker, a senior economist at the Center for Economic and Policy Research who predicted the 2008 housing bubble crash, told Insider.

According to analyses by Baker and other well known economists, the fall of Silicon Valley Bank, which held some $220 billion in assets and was America’s 16th largest commercial bank before its collapse Friday, was tied largely to the bank’s decision to buy up government bonds amid the tech boom between 2019 and 2022, when many Silicon Valley companies were flush with cash."

https://www.fastcompany.com/90865681/no-svb-didnt-fail-because-it-was-woke

 

[Markle]

Failed Silicon Valley Bank (SVB) has been hit with accusations that it was hyper-focused on so-called diversity, equity, and inclusion (DEI) initiatives and generally managed poorly.

SVB reportedly failed to have someone in charge of risk assessment for some eight months, until January of this year, while the person in charge of risk assessment in the U.K. allegedly prioritized “pro-diversity initiatives” while neglecting her actual role, according to a Daily Mail report.

The bank has pages on its website dedicated to showing off its DEI initiatives and “workforce diversity.”

“An inclusive workplace expands opportunities for everyone,” the site reads, captioning the charts below. “SVB benefits from a diverse workforce and we aim to continue to increase diverse representation at all levels of the company.”

Failed SVB Criticized For Hyper-Focus On Woke DEI Initiatives, LGBT Activism | The Daily Wire

www.dailywire.com

LMAO!

Republican Congressfolk pressed high ranking woke military heads on this not too long ago. If the leaders of places are spending so much time on diversity/inclusion/(insert vague/meaningless woke buzzword here), doesn't that take away from time spent focusing on what is most important (aka function)?

Well.. it turns out, the answer is Yes.

These banks sadly have an effect on the ecominic environment. Much like dirty companies that overpollute, they are causing bad things on the ecomony based on their choices to focus on leftist ideology rather than the economy and banking principles. So sadly while they may go under, they pollute innocent people's lives with their filth.

Let's hope this is a wake up call.. there's a LOT of policital activism in American institutions that we used to think weren't capable of promoting.

Less than nothing will happen.

Silicone Valley Bank did everything wrong. ONE of their board of directors had experience in the banking industry. One of their directors is Barney Frank, co-author of the 2008 mortgage/housing/financial meltdown.

As you accurately pointed out, they had no risk assessment officer for nearly a year.

They poured tens of millions of dollars into the most WOKE investments they could find.

What happened due to all their mistakes? They are being rewarded and being rewarded handsomely.

Go woke go broke! SVB hired board obsessed with diversity, invested $5BN for 'healthier planet' and held month-long Pride celebration - but had NO chief risk officer for eight months last year​

• Silicon Valley Bank had an A rating for its Environmental, Social and Governance policies as it increased diversity and invested in sustainability startups
• But for eight months last year, the bank did not have a chief risk operator
• At the time, it was investing clients' money in low-interest government bonds and securities that saw their value fall when interest rates rose

By MELISSA KOENIG FOR DAILYMAIL.COM
PUBLISHED: 13:28 EDT, 13 March 2023 | UPDATED: 10:43 EDT, 14 March 2023

SVB hired woke board obsessed with diversity

Silicon Valley Bank had an A rating for its Environmental, Social and Governance policies as it increased diversity and invested in sustainability startups.

www.dailymail.co.uk

 

[Markle]

Nope, it is because you republicans and Donald Trump back in 2018 ended portions of dodd frank. Remember? Your lust to deregulate the banks always turns out badly as it did with the deregulation that allowed for 2008.

Republicans need to just stop!

That's just goofy and vividly demonstrates your TDS!

Do some serious research and come to the table with solutions. So far, the far-left solutions are total failures.

How did having one person on their board of directors with experience in banking work out? Especially when one of those directors is the co-author of the 2008 mortgage/housing/financial meltdown, Barney Frank!

Please share with us how President Trump forced SVB to make major investments in WOKE businesses?

 

[Markle]

None of that is true. SVB bet heavily on government bonds and it came back to bite them when interest rates rose. It had nothing to do with any political agenda. There is absolutely nothing wrong with diversity. The military is right to promote diversity because the military is very diverse. It is sad there are so many people in this country try to make it a dirty word. What is also sad is so maqny people use the word woke and it is clear that they have no clue what it is. Want to shut up a rightwinger? Ask them what it means to be woke. They will do verbal gymnastics trying to define it.

Also the banking deregulation bill that was passed by Republicans and signed by Trump also led to the collapse. SVB was exempted from having to undergo stress tests. One of the criteria that is used is higher interest rates. Had this been done, the problems might have been caught sooner. Republicans have cost this country billions of dollars.

“I don’t have a clear idea of what woke is, and it seems to change by the day. Maybe government bonds are now woke, but that is what got them into trouble,” Dean Baker, a senior economist at the Center for Economic and Policy Research who predicted the 2008 housing bubble crash, told Insider.

According to analyses by Baker and other well known economists, the fall of Silicon Valley Bank, which held some $220 billion in assets and was America’s 16th largest commercial bank before its collapse Friday, was tied largely to the bank’s decision to buy up government bonds amid the tech boom between 2019 and 2022, when many Silicon Valley companies were flush with cash."

https://www.fastcompany.com/90865681/no-svb-didnt-fail-because-it-was-woke

HA!

Go woke go broke! SVB hired board obsessed with diversity, invested $5BN for 'healthier planet' and held month-long Pride celebration - but had NO chief risk officer for eight months last year​

• Silicon Valley Bank had an A rating for its Environmental, Social and Governance policies as it increased diversity and invested in sustainability startups
• But for eight months last year, the bank did not have a chief risk operator
• At the time, it was investing clients' money in low-interest government bonds and securities that saw their value fall when interest rates rose

By MELISSA KOENIG FOR DAILYMAIL.COM
PUBLISHED: 13:28 EDT, 13 March 2023 | UPDATED: 10:43 EDT, 14 March 2023

SVB hired woke board obsessed with diversity

Silicon Valley Bank had an A rating for its Environmental, Social and Governance policies as it increased diversity and invested in sustainability startups.

www.dailymail.co.uk

 

[citygator]

Rule number #137 on USMB…. Any post stated as a question is ALWAYS answered correctly with a “No”.

 

[progressive hunter]

Rule number #137 on USMB…. Any post stated as a question is ALWAYS answered correctly with a “No”.

 

[CrusaderFrank]

Speaking of ‘splaining, SVB officials will need to answer a lot of questions, including, What role did wokeness play in SVB’s failure?

Another term for wokeness, of course, is ESG, which stands for environmental, social, and governance. ESG is a pertinent question, as there’s a considerable body of economic literature showing that woke investments aren’t good investments. For instance, one study by professors at the London School of Economics and Columbia University finds that:

ESG funds appear to underperform financially relative to other funds within the same asset manager and year, and to charge higher fees. Our findings suggest that socially responsible funds do not appear to follow through on proclamations of concerns for stakeholders.

…

Read more: Pinkerton: Green, Woke, and Now Broke — How SVB Became the 2nd Biggest Bank Failure in U.S. History

Diversity is our bottom line!