To quote the only guy who has been giving even more money to Democrats than disgraced fraudster Sam Bankman-Fried,
That’s why Silicon Valley Bank CEO Greg Becker, ignoring the advice of CNBC clown Jim Kramer, sold $3.6 million worth of stock in his own bank less than 2 weeks before it collapsed. The time has come to jump off the ESG train, which is going off the rails:
A head of risk management at Silicon Valley Bank spent considerable time spearheading multiple “woke” LGBTQ+ programs, including a “safe space” for coming out stories, as the firm catapulted toward collapse.
This collapse was the second largest in American banking history.
Jay Ersapah, the boss of Financial Risk Management at SVB’s UK branch, launched initiatives such as the company’s first month-long Pride campaign and a new blog emphasizing mental health awareness for LGBTQ+ youth.
Jay explains her qualifications to protect investors by managing risk:
“As a queer person of color and a first-generation immigrant [yadda yadda yadda].”
Jay has been a big success:
Her efforts as the company’s European LGBTQIA+ Employee Resource Group co-chair earned her a spot on SVB’s “outstanding LGBT+ Role Model Lists 2022,” a list shared in a company post just four months before the bank was shut down by federal authorities over liquidity fears.
Being woke, SVB pushed not only sexual perversion but also nonwhiteness and of course the global warming hoax. Check out the title of this SVB press release from last year:
Silicon Valley Bank Commits to $5 Billion in Sustainable Finance and Carbon Neutral Operations to Support a Healthier Planet
Do not entrust your money to flaky ideologues — speaking of which:
[A]s recently as March 7, Treasury Secretary Janet Yellen was urging faster please on ESG [i.e., SVB-style corporate moonbattery]. “A delayed and disorderly transition to a net-zero economy can lead to shocks to the financial system,” she said.
The Biden Regime will probably further inflate the currency to finance a massive bailout of SVB, ensuring a more painful reckoning for all of us when the ESG house of cards inevitably collapses.
Fortunately, not everyone in the government is as clueless as Yoda’s Aunt Janet:
To be sure, plenty have been warning about the dangers of ESG, including House Majority Leader Steve Scalise (R-LA) and also some of those directly tasked with growing and safeguarding pension funds, such as West Virginia State Treasurer Riley Moore. There’s even a new network of right-leaning investment overseers, the State Financial Officers Foundation.
We don’t have to let the contagion spread until the entire economy follows SVB down the crapper. There may still be time to pry Democrats loose from power.
On tips from Chris Neilson, Bluto, Anonymous, KirklesWorth, Jack D, and Gringoman.
The post Get Woke, Go Broke: Silicon Valley Bank appeared first on Moonbattery.