(Dennis Prager – Townhall) The primary concern of the people who ran the Silicon Valley Bank (SVB) — the bank that just went bust — was not banking. Nor was it making money for the bank’s shareholders or safeguarding the funds of its depositors.
Their primary concern was social activism — LGBTQIA+, DEI (Diversity, Equity, Inclusion), ESG (Environmental, Social, and Governance), and climate change.
In fact, for nine months — from April 2022 until only eight weeks ago — SVB in America didn’t even have a chief risk officer (CRO). It did have a CRO for Europe, Africa, and the Middle East, but the woman entrusted with that role, Jay Ersapah, was apparently considerably more interested in left-wing activism than in risk assessment.
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