One of the possible reasons why Silicon Valley Bank folded is that instead of paying attention to risk managment, their leaders were pushing woke nonsense.
You can bet similar things are happening at other banks, and it should concern you.
Bernie Marcus, the co-founder of Home Depot, talked about this during a recent media appearance.
From FOX News:
Home Depot co-founder torches ‘woke’ Silicon Valley Bank collapse, warns recession may be here already
Home Depot co-founder Bernie Marcus issued a strong warning for everyday Americans.
During an appearance on “Cavuto Live,” Marcus discussed the devastating collapse of Silicon Valley Bank, urging Americans to “wake up” and understand that the U.S. economy is in “tough times.”
“I can’t wait for Biden to get on the speech again and talk about how great the economy is and how it’s moving forward and getting stronger by the day. And this is an indication that whatever he says is not true. And maybe the American people will finally wake up and understand that we’re living in very tough times, that, in fact, that a recession may have already started. Who knows? But it doesn’t look good,” Marcus argued, Saturday.
“I feel bad for all of these people that lost all their money in this woke bank. You know, it was more distressing to hear that the bank officials sold off their stock before this happened. It’s depressing to me. Who knows whether the Justice Department would go after them? They’re a woke company, so I guess not. And they’ll probably get away with it,” he said to host Neil Cavuto.
Here’s the video:
👀 Ex-Home Depot CEO Bernie Marcus Blames Biden’s Woke Policies for SVB
“I think that the Administration has pushed many of these banks into more concern about global warming than they do about shareholder return” pic.twitter.com/UQhle3ad2K
— Chief Nerd (@TheChiefNerd) March 12, 2023
Of course, Marcus is correct about this. The leftist ideology of diversity and inclusion is now embedded in everything, even our financial institutions.
Things are going to get worse.