![]() ![]() Several California lawmakers have shared their concerns about the bank’s failure on Twitter. ‘Woke Generation’ Is Threat to Economy, ‘Entitled’ Are Not Working and Living Off Handouts: Home Depot Founder Responses It’s pathetic that so many people lost money that won’t get it back.” And I think it’s probably a badly run bank. “Instead of protecting the shareholders and their employees, they are more concerned about the social policies. ![]() “These banks are badly run because everybody is focused on diversity and all of the woke issues and not concentrating on the one thing they should, which is shareholder returns,” he said. Marcus blamed the Biden administration for pushing banks and companies into being “more concerned about global warming” than shareholder returns. SVB announced in January 2022 that it was committed to providing at least $5 billion in loans, investments, and other financings by 2027, to support companies “that are working to decarbonize the energy and infrastructure industries and hasten the transition to a sustainable, net zero emissions economy.” And they’ll probably get away with it.”Īccording to a filing with the Securities and Exchange Commission, Greg Becker, CEO of Silicon Valley Bank, sold 12,451 shares of the bank’s parent company SVB Financial Group on Feb. “Who knows whether the Justice Department would go after them? They’re a woke company, so I guess not. You know, it was more distressing to hear that the bank officials sold off their stock before this happened. “I feel bad for all of these people that lost all their money in this woke bank. Marcus attributed the bank’s failure to its decisions to adopt “woke” policies. Newsom also issued a statement saying he had been in touch with “the highest levels of leadership at the White House and Treasury.” On Saturday, a White House statement said Biden has spoken to California Gov. history since Washington Mutual during the 2008 financial crisis. The collapse of the California bank was the second biggest bank failure in U.S. The Federal Deposit Insurance Corporation (FDIC) has now assumed control of the bank. Silicon Valley Bank, the nation’s 16th largest bank with about $209 billion in total assets, collapsed on March 10, after depositors rushed to withdraw money over concerns of the bank’s solvency. ![]() Marcus added, “And maybe the American people will finally wake up and understand that we’re living in very tough times, that, in fact, that a recession may have already started. And this is an indication that whatever he says is not true,” Marcus told Fox News on March 11. “I can’t wait for Biden to get on the speech again and talk about how great the economy is and how it’s moving forward and getting stronger by the day. economy is in “tough times,” following the collapse of Silicon Valley Bank (SVB). Home Depot co-founder Bernie Marcus asked Americans to “wake up” to the reality that the U.S. ![]()
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