The bank suffered from a combination of senior officers more focused on identity politics than risk management and investments in unprofitable virtue-signaling boondoggles, like reportedly financing 62% of all U.S. solar projects...
It’s also poetic that SVB would be the first bank to fail from ‘going woke,’ as the general business culture in Silicon Valley itself is notoriously far left and similarly out-of-step with the rest of the country. Let this be a warning, not just to other banks, but all of corporate America: Focus on serving your customers, not woke politicians.
Imagine needing to get a texts to know what companies to be mad at? 🤣 Hardcore conservatives never cease to entertain me.
Is Bojangles on the list? Gaw hope not
jbisch you sign up yet? lol
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