If you were thinking that SVB collapsed because of greed or deregulation, conservatives are quick to blame the one Black and LGBTQ+ members of the bank's board.
bank management instead of relaxed banking regulation for SVB’s quick collapse. He claimed the bank was too willing to take on “excessive debt,” that it didn’t take into account an encroaching bear market, and “not quickly selling enough” to cover losses.
Then toward the end of his thoughts, Kessler just had to sneak in a little bit of anti-woke hysteria to make his case. He cited thethat the board is made up of “45% women” along with “‘1 Black,’ ‘1 LGBTQ+’ and ‘2 Veterans.’” Somehow having 5 people on the board being female, along with a single Black person and another being not-straight, meant the board “may have been distracted by diversity demands.”Distracted by what, exactly? Were they all too busy showing up with less than the average U.S.
noted there were only four women on the board compared to nine men and only two “racially diverse” board members. If Kessler was so quick to point out the number of “diversity” hires, then he was very willing to ignore their qualifications. Two of the most recently-elected board
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street Gets Tough on Gap Inc.While retail analysts cite market share declines, lack of creativity and at Old Navy 'a fall from grace,' Gap Inc. officials point to cleaner inventories, room for further cost savings and a new CEO soon to arrive.
Read more »
See how a Wall Street bank office building was transformed into condosThese million-dollar luxury condos used to be the storied offices of a big Wall Street bank. See inside the transformation.
Read more »
Wall Street — not taxpayers — will pay for the SVB and Signature deposit relief plansThe funds to reimburse depositors will be paid out of the Deposit Insurance Fund, which is made up of quarterly fees assessed on financial institutions.
Read more »
Bank stocks plunge and gold rises as Wall Street deals with uncertaintyThe most pressure is on the regional banks one or two steps below in size of the massive, “too-big-to-fail” banks that helped take down the economy during the 2008 financial crisis.
Read more »
Bank stocks plunge and gold rises as Wall Street deals with uncertaintyThe most pressure is on the regional banks one or two steps below in size of the massive, “too-big-to-fail” banks that helped take down the economy during the 2008 financial crisis.
Read more »