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March 15, 2023

Sillicon Valley Bank Paid Out $73 Million to BLM and BLM-Associated Causes
Update: Gavin Newsom Lobbied For Bailout of Bank's Depositors, Without Revealing He Was One of the Bank's Depositors

Before getting to that: Paul Sperry reported this over the weekend.


Paul Sperry
@paulsperry_

DEVELOPING: Fed Reserve Bank of SF that missed massive red flags @ SV Bank run by openly gay diversity quota & Janet Yellen protege Mary Daly who focused more on "climate change and inequities" than regulating rogue banks like SVB. Also chairs SF Fed Diversity & Inclusion Council

A Claremont Institute analysis of corporate donations to BLM finds that the woke bank spent precious dollars it turns out it didn't have to prop up BLM.

As it turns out, SVB was a massive donor to Black Lives Matter and other social justice causes, to the tune of nearly $74 million dollars. $73,450,000 to be more exact.

The figure comes from an extensive report dropped by the Claremont Institute on Tuesday. The report details $82 billion dollars in social justice/BLM investments by major American companies. SVB stands out as one of the larger donors, next to big donors like Apple ($100 million) and Comcast ($165 million). While at the top of the donation pool, those contributors do pale in comparison to donors like Blackrock ($810 million) and Citigroup ($1.1 billion). However, the group did pledge on their website to provide in total up to $11 billion dollars by 2026 for Diversity, Equity and Inclusion (DEI) programs and racial justice causes.

SVB executives explained on their website the turbulent racial atmosphere following the George Floyd killing and protests prompted them to expand "opportunities for dialogue," a calling that doesn't seem too have much concrete investment return, but ended up taking $74 million dollars out of bank coffers anyway.

When they weren't spending the bank's assets on buying BLM a luxury Trap House, they were focusing on making prudent investments that would keep the bank solvent.

Nah, just pulling your leg, when they weren't donating to BLM they were making "diversity" and "climate" "investments."

The company's Corporate Responsibility report leaned heavily on their Environmental, Social and Governance (ESG) actions. Some of the report's major concerns included:

* Climate and environmental finance and investment
* Climate and environmental risk management
* Climate and environmental impacts from operations
* Diversity, equity and inclusion across our leadership, workforce, supply chain and communities
* Community Development, financial inclusion and economic equality
* Quality of leadership (including skills and diversity)

You'll be happy to know that this bank that failed and cost the American taxpayers billions was very "diverse" and pursued "equity," meaning, guaranteed equal outcomes no matter what the actual level of ability of employees or no matter how risky the investments.

It also touted their diversity efforts, reporting their hired their "first Diversity, Equity & Inclusion Officer (CDEIO)" and "enhanced workforce and Board diversity metrics."

We provide DEI learning tracks and programming, integrating content into our overall learning experiences at SVB. Courses range from raising awareness of unconscious bias to mitigating micro-behaviors to promote inclusivity. In 2019 we piloted programs focused on allyship, and in 2020 we hosted a series of Conversation Circles enterprise-wide to address systemic racism and social oppression.

Company reports highlighted their workforce as 67% "diverse", including 45% of the total workforce being made up of women, and 40% minorities.

Update:

unusual_whales @unusual_whales · 4h

BREAKING: California Governor Gavin Newsom lobbied the White House and Treasury on the bailout of Silicon Valley Bank, without disclosing that his private wineries had reportedly been the bank's clients & he may have even had a personal account at the bank, per the Intercept

Thanks to andycanuck.

Tucker Carlson points out that this $74 million wasn't actually wasted -- indeed, spending this money got the Regime to bail the bank out. Or at least, bail out its woke tech depositors.



In other news: Larger banks had offers out to buy Silicon Valley Bank. These private buyers would have used their own money to shore up Silicon Valley's finances and avoid a wipeout.

But Biden's leftwing regulators blocked these attempted purchases, because they had a "whitelist" of approved woke buyers and the buyers interested in SVB weren't on that whitelist.

So now we all own Silicon Valley Bank.

Tom Elliot comments further:

Tom Elliott @tomselliott

At every fork in the road, the Biden Admin always elects for the most extreme, far-left option available

digg this
posted by Ace at 01:05 PM

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