Former Dems including Clinton donor, Obama official dominated SVB’s board of directors

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The board of directors of the Silicon Valley Bank (SVB) that collapsed in under 48 hours last week was packed with staunch Democrats, according to a report.

Last week, SVB suffered $1.8 billion in losses as it faced a liquidity crisis caused by souring investments in bonds those lost value as interest rates rose. The bank's share price fell 60% last week and the Federal Deposit Insurance Corporation (FDIC) stepped in on Friday to take over the bank's operations as depositors panicked and rushed to withdraw their money.

The bank's management is now under heavy scrutiny as enforcement agencies investigate what went awry causing the 16th-largest bank in the country to be sent into a tailspin…
…On Tuesday, the New York Post reported that among the 12 members of SVB’s board of directors who were supposed to guide the bank away from catastrophic errors include a Hillary Clinton mega-donor who went to a Shinto shrine to pray after Donald Trump won the White House, a former President Barack Obama political appointee, and a prolific contributor to Democrats who owns a Napa Valley vineyard just 15 minutes from the former House Speaker Nancy Pelosi, D-Calif.

According to the report, Democratic alignment was part of the bank's overall strategy…











read more news: https://www.foxnews.com/politics/former-dems-including-clinton-donor-obama-official-dominated-svbs-board-directors






It is exactly as many of us suspected. A totally DEI and ESG woke bank. They are so closely tied to the democrat party that they might as well be a part of it. That is why their deposits in excess of 250k are being protected.

 

This is the very definition of woke crony capitalism. They virtue signaled, aligned with prominent democrats, but then on their board with only one investment expert token, give themselves golden parachute bonuses on the way out the door as the regime protects all their elite powerful friends who had big time deposits concentrated there, including it seems, my governor, Newscum.

 

Gavin Newsom is an SVB depositor. No wonder they got bailed out.

 

Hmm.

Let's look at a comparison of boards of other failed companies.

Let's pull a random, high profile board, say Theranos.

Henry Kissinger.
George Schultz.
William Perry.

What party were those?


So what is this mythical bailout? Why is this some random attack on diversity? Are people of color not entitled to do business in this country?

 

Why is this associated with ESG's? Should people not be allowed to invest money as they see fit? Is this some sort of MAGASocilialism dream country where folks can only invest in things that some class of keyboard experts approve of?

 

I saw a photo of these people, and they were just standing there smiling for the camera.

They weren't donating to Hillary, or working for Obama, so clearly those things never happened.

 

You forgot Bill Clinton's connection to Elizabeth Holmes...

https://www.standard.co.uk/insider/...s-blood-tests-trial-edison-fraud-b953386.html

And the Left's hero, James Mattis was on the board, as well.

Then there's this...

https://www.vox.com/2016/3/14/11586...h-holmes-is-holding-a-hillary-fundraiser-with

You didn't do your due diligence.

 

You are incorrect.

I am well aware of Holmes celebrity. I am also well aware she stacked her board with old, connected Republicans.

Not that it made a difference.

To say that SVB failed because of the political affiliations of a couple board member is just silly. Corporations fail. Ideas fail. To take one out of a bunch and claim it was for a reason that goes along with a Fox news chat show is just silly.

 

Holy ****, dude! You're the one that tried to finger Republicans for the failure of Theranos...lol

Theranos didn't fail because of mismanagement. It failed because Holmes' blood test kit didn't even exist. It was 100% fraud.

 

One of many favored elites getting this special treatment…

 

That is not correct. I pointed out a comparable, and also stated that the perceived political affiliations had no effect on the success or failure of that company.

 

What special treatment has Gavin Newsom received?

 

These people put DEI and ESG goals and ideals way above meeting their fiduciary responsibilities to their shareholders and depositors. That’s the issue here.

 

Is that the issue?

So explain this issue. What does that mean that they put diversity, equity and inclusiveness ahead of fiduciary duty?

 

He got bailed out by the government. Whatcha wanna bet he had more than 250 grand in that bank?

 

Did he? It is your contention, tell me all about it. Was he not entitled to having his deposits up to $250,000 insured by the FDIC?

 

This is the investment committee...



Then, there's this...

 

I don't read bad meme-ese. What point are those colored pixels attempting to convey?

 

Biden covered all deposits, even deposits over 250 grand. 90% of SVBs depositors have over 250 grand in that bank.

I heard one MSNBC commentator refer to SVB as the "Democrat Party ATM".

 

Biden covered all deposits.

No, I am going to say that is not true.

 

I was showing you the investments committee. You think those ol' gals were picked for their talent, or for their gender?

 

Are ya now?...lol

 

I have no idea. It is your claim.

 

So the federal reserve, a quasi independent agency, and the treasury department equals Biden? That seems an odd claim, even more so when I read your article.

"Rather, deposits will be covered by an insurance pool that banks regularly contribute to, according to a joint decision Sunday by the Fed, Treasury and the Federal Deposit Insurance Corporation, the agency tasked with buoying confidence in the U.S. financial system."

So the FDIC, established 90 years ago, is Biden?

It is so odd that there is so much blatant disinformation being tossed around here.

 

This whole thing isn't working out for y'all. Is it?...lol