No wonder SVB went under

[Bells76]

The raw stupidity of their woke policies. Anyone that was caught up in this should have paid more attention to their bank’s discriminatory work ideals and lack of preparation.

Silicon Valley Bank had NO head of 'risk assessment' for nine months

Collapsed lender Silicon Valley Bank operated without a chief risk officer for nine months while the operation's UK-based CRO is accused of prioritizing diversity initiatives.

www.dailymail.co.uk

 

[phoenixdawg]

go woke go broke

 

[WyoDawg307]

This wasn’t a real bank. Bank stocks that behave like tech stocks are not banks.

Copy and pasted:

SIVB went bananas with its lending following the pandemic courtesy of all the bail-out/ stimulus money. SIVB was the bank for (h/t DiscloseTV):

1) Some 1,500 climate and energy-tech companies.

2) More than 60% of all community-based solar financing.

3) Countless "woke" programs that financed politically-tied entities/ startups.

Look, a bank can lend money to whoever it likes... but when you throw lending standards out the window and start loaning money based solely on political ideology (as opposed to whether or not the person/ business could ever pay you back) it's a recipe for disaster.

By doing this, SIVB went from the 42nd largest bank to the 15th largest bank in the U.S. in the span of THREE YEARS. The chart below is not of a tech start-up or micro-cap... it's that of a BANK. Yes, it went from $150 per share to $750 per share in less than two years.