SVB is not a canary in the banking coal mine

VicBee said:
There was no reason to short it, unless someone just happened to know there were problems in da house, like a friend of a friend of those in the know. This is the Silicon Valley we're talking about.
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CEO said some asinine shix...shades of FTX tweets.
 
piezoe said:
...We will not, so long as our deposits are below the FDIC limit --- and it's unlikely even if they aren't --- lose so much as a penny on any demand accounts. Your money deposited in U.S. banks is safe regardless of the bank's solvency. It is the Congress and inflation that should concerned us, that's where the risk is.
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So you are saying that even though FDIC insurance is capped at 250K per account, everyone will be made whole regardless of their account holdings. Then why does the FDIC even BOTHER to mention that limit, if it does not exist?
 
Silicon Valley Bank had NO head of 'risk assessment' for nine months before it collapsed... as woke Risk Officer for Europe was busy organizing a month-long Pride campaign and a 'Lesbian Visibility Day'
  • The collapsed Silicon Valley Bank had no risk assessment head for nine months
  • The bank's previous head left in April 2022, her replacement wasn't named until January
  • While the bank's European risk officer is accused of being more focused on diversity efforts
Collapsed lender Silicon Valley Bank operated without a chief risk officer between April 2022 and January 2023 while the operation's United Kingdom-based CRO stands accused of prioritizing pro-diversity initiatives over her actual role.

Jay Ersapah, who acts as CRO for the bank in Europe, Africa and the Middle East and who describes herself as a 'queer person of color from a working-class background' - organized a host of LGBTQ initiatives including a month-long Pride campaign and implemented 'safe space' catch-ups for staff.
In a corporate video published just nine months ago, she said she 'could not be prouder' to work for SVB serving 'underrepresented entrepreneurs.'

Professional network Outstanding listed Ersapah as a top 100 LGTBQ Future Leader.

'Jay is a leading figure for the bank’s awareness activities including being a panelist at the SVB’s Global Pride townhall to share her experiences as a lesbian of color, moderating SVB’s EMEA Pride townhall and was instrumental in initiating the organization's first ever global "safe space catch-up", supporting employees in sharing their experiences of coming out,' her bio on the Outstanding website states.

It adds that she is 'allies' with gay rights charity Stonewall and had authored numerous articles to promote LGBTQ awareness.

These included 'Lesbian Visibility Day and Trans Awareness week.'

https://www.dailymail.co.uk/news/ar...nk-accused-prioritizing-diversity-issues.html
 
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Businessman said:
Silicon Valley Bank had NO head of 'risk assessment' for nine months before it collapsed... as woke Risk Officer for Europe was busy organizing a month-long Pride campaign and a 'Lesbian Visibility Day'
  • The collapsed Silicon Valley Bank had no risk assessment head for nine months
  • The bank's previous head left in April 2022, her replacement wasn't named until January
  • While the bank's European risk officer is accused of being more focused on diversity efforts
Collapsed lender Silicon Valley Bank operated without a chief risk officer between April 2022 and January 2023 while the operation's United Kingdom-based CRO stands accused of prioritizing pro-diversity initiatives over her actual role.

Jay Ersapah, who acts as CRO for the bank in Europe, Africa and the Middle East and who describes herself as a 'queer person of color from a working-class background' - organized a host of LGBTQ initiatives including a month-long Pride campaign and implemented 'safe space' catch-ups for staff.
In a corporate video published just nine months ago, she said she 'could not be prouder' to work for SVB serving 'underrepresented entrepreneurs.'

Professional network Outstanding listed Ersapah as a top 100 LGTBQ Future Leader.

'Jay is a leading figure for the bank’s awareness activities including being a panelist at the SVB’s Global Pride townhall to share her experiences as a lesbian of color, moderating SVB’s EMEA Pride townhall and was instrumental in initiating the organization's first ever global "safe space catch-up", supporting employees in sharing their experiences of coming out,' her bio on the Outstanding website states.

It adds that she is 'allies' with gay rights charity Stonewall and had authored numerous articles to promote LGBTQ awareness.

These included 'Lesbian Visibility Day and Trans Awareness week.'

https://www.dailymail.co.uk/news/ar...nk-accused-prioritizing-diversity-issues.html
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You just win the prize for the stupidest post of the month...congrats!
 
Who else but the daily mail. That person is CRO for Europe/Africa. Didn't the issues start in America ? It seems pretty absurd to blame this bank going tits up on "wokeness". I also see no evidence presented in the article that she prioritized pride month events over her job. Who's accusing her? This article is more like a hit piece.
 
VicBee said:
You just win the prize for the stupidest post of the month...congrats!
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It is these woke companies that are stupid beyond belief. Get Woke go Broke.

Chief Risk officers in the UK and also the former US one were both diversity hires.

This is not some 'Head of Diversity' non job we are talking about, this the fucking Head of Risk.
 
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otctrade said:
Who else but the daily mail. That person is CRO for Europe/Africa. Didn't the issues start in America ? It seems pretty absurd to blame this bank going tits up on "wokeness". I also see no evidence presented in the article that she prioritized pride month events over her job. Who's accusing her? This article is more like a hit piece.
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Anyone can write anything they want. The problem comes from those who use trash as an argument to make a point.
 
This from Seeking Alpha. Note the date of their investigation...

upload_2023-3-12_16-23-10.jpeg


The pic was taken from the great podcast below

 
piezoe said:
I laugh when I hear of people rushing to get there money out of a bank because they think might lose it if the bank fails. Naturally, if a Bank has failed and is closed briefly while resolution takes place, you might transfer your funds as soon as it reopens..............
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I think some of the folks withdrawing money ........ is so they don't have to wait to get access to it. Not that they will lose it entirely.
 
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