SVB is a "Woke bank" and SBV officials sold off (their) stock just before the collapse. "They’re a woke company ... and they’ll probably get away with it.”
Posted by freedomforall 2 years, 1 month ago to Business
"In a Sunday morning appearance on Fox News, Home Depot co-founder Bernie Marcus said that the bank’s collapse should be a “wake up” call for many Americans about the state of the U.S. economy.
“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. Who knows? But it doesn’t look good,” Marcus told the outlet.
He added: “I feel bad for all of these people that lost all their money in this woke bank. You know, it was more distressing to hear that the bank officials sold off their stock before this happened. It’s depressing to me. Who knows whether the Justice Department would go after them? They’re a woke company, so I guess not. And they’ll probably get away with it.”
“The Fed keeps raising rates and inflation keeps going in the wrong direction. It’s not staying where it should be. People are struggling. People can’t pay their bills. They can’t fill their tanks with gas. And if you think that’s a good sign, I don’t think it is. And we have an administration that’s obtuse to this. They just keep talking about the great times and how good it is. It’s not good,” Marcus told the outlet."
“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. Who knows? But it doesn’t look good,” Marcus told the outlet.
He added: “I feel bad for all of these people that lost all their money in this woke bank. You know, it was more distressing to hear that the bank officials sold off their stock before this happened. It’s depressing to me. Who knows whether the Justice Department would go after them? They’re a woke company, so I guess not. And they’ll probably get away with it.”
“The Fed keeps raising rates and inflation keeps going in the wrong direction. It’s not staying where it should be. People are struggling. People can’t pay their bills. They can’t fill their tanks with gas. And if you think that’s a good sign, I don’t think it is. And we have an administration that’s obtuse to this. They just keep talking about the great times and how good it is. It’s not good,” Marcus told the outlet."
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We have learned nothing from 2008.
I know what I’m doing. I haven’t pulled a “paycheck” since January 6th. So they’re going to have a hard time getting it out of me.
Does you suppose being ESG compliant is all that mattered?
Only the Paul's are listening.
The traitors in the SCOTUS should have declared the fed (and all gun restrictions) unconstitutional long ago.
THEY aren't going to do what is necessary.
because they knew they'd never have to take the losses. SVB was just an excuse to bail
out the bigger risks.
But the 'beef' is-
When company execs sell stock in the company they are acting on what they see and what they are doing, the name for that is insider trading. A federal crime and likely the same in California.
Several federal agencies should be supervising and prosecuting insider trading.
he finally retired, was on the bank's board
he was the last of anyone that could be considered a "Banker"
all that are left now are clueless types, like the local chief of police, not REAL Bankers with a clue about how a bank runs
Which seems to be about 70 cents on the dollar. Guess who’s eating the 30 cents.
It’s a big ole shit sandwich. And we’re all gonna have to take a bite.
On another note.....this is what it looks like when WOKE Millennials run a bank.
It’s going to get a whole lot worse.
This leaves them vulnerable to rapid changes in the climate of doing business such as we now see with the Fed's rapid, short-sighted interest rate dictates.
https://www.zerohedge.com/markets/fat...