DeSantis blames SVB collapse on wokeness

[Rat]

https://www.businessinsider.com/republicans-blame-woke-politics-for-silicon-valley-banks-collapse-2023-3

To Florida Gov. Ron DeSantis, the culprit was "Diversity, Equity, and Inclusion." The bank website says it was building a global workforce celebrating "greater dimensions of diversity."


"This bank, they're so concerned with DEI and politics and all kinds of stuff, I think that really diverted from them focusing on their core mission," DeSantis said  on Fox News' "Sunday Morning Futures."

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I'm getting pretty sick of hearing DeSantis constantly label any topic that comes up as "woke". I'd say he's become a one-issue candidate, but he doesn't seem to actually have any grasp on what the word actually means, so maybe "one-word candidate" is more fitting. A potential president should have a far better grasp on economics than he seems to have.

[Ferguson97]

"The bank wouldn't have collapsed if there were more white men running it" is... certainly a unique take, I'll give Ron that.

[100% pro-choice no matter what]

"The bank wouldn't have collapsed if there were more white men running it" is... certainly a unique take, I'll give Ron that.

You don't remember when a transgender lesbian Black woman who led to the 1929 Stock Market Crash?

[Lief 🗽]

A noun, a verb, and “woke.”

[falling apart like the ashes of American flags]

DEI stuff is in general pretty stupid but this is an even stupider take, the problem with it is that it's just really a waste of time and doesn't really do anything positive. DeSantis is trying to triple down on this because he knows that the median voter thinks this sort of thing is stupid too. What he doesn't understand is the median voter thinks it's just silly and ineffective, not some plague that ruins everything in this manner, and isn't likely to care about it while voting, similar to the critical race theory boogeyman that Republicans have now mostly abandoned.

[Landslide Lyndon]

https://mobile.twitter.com/LOLGOP/status/1635092689300623361

[President Johnson]

And this is the guy Republicans have as their last hope against Trump?

[Senator Sirius]

And people seriously think the median voter will see this guy as reasonable? Who outside of the base does this appeal to?

[Del Tachi]

As a fiduciary, a bank's primary duty is to the management and care of assets (i.e., deposits) under its control.  This means operating solely to maximize returns for your investors, not throwing money at feel-good ESG and DEI initiatives.  Biden's SEC seems to have forgotten that. 

[Landslide Lyndon]

As a fiduciary, a bank's primary duty is to the management and care of assets (i.e., deposits) under its control.  This means operating solely to maximize returns for your investors, not throwing money at feel-good ESG and DEI initiatives.  Biden's SEC seems to have forgotten that. 

Do you have the slightest idea why this bank failed or is this just another excuse to flaunt your "economic anxiety"?

[Ferguson97]

As a fiduciary, a bank's primary duty is to the management and care of assets (i.e., deposits) under its control.  This means operating solely to maximize returns for your investors, not throwing money at feel-good ESG and DEI initiatives.  Biden's SEC seems to have forgotten that. 

Why do you view those goals as incompatible?

[Torie]

And this is the guy Republicans have as their last hope against Trump?

I don't know about you, but I get the impression the Pub establishment has written off the 2024 election. I concluded about 2 months ago that DeSantis is a nebbish and a fail on the national stage. If you do a search of my name and DeSantis you will be exposed to a whole portfolio of posts where I trash him.

Nikki Haley meanwhile is trying to figure out how to say something that is not a cliche because she has nothing to say that is other than a cliche.

So it seems like the merchant of hate and revenge and authoritarian approaches to run the planet has a clear lane to his rendezvous with a crushing defeat. I suspect much of the Pub establishment behind closed doors believes that is the only antidote - a devastating defeat - to remediate the toxic waste dump that the GOP has become. It needs to die before it can reborn into a different incarnation.

[Del Tachi]

As a fiduciary, a bank's primary duty is to the management and care of assets (i.e., deposits) under its control.  This means operating solely to maximize returns for your investors, not throwing money at feel-good ESG and DEI initiatives.  Biden's SEC seems to have forgotten that.  

Do you have the slightest idea why this bank failed or is this just another excuse to flaunt your "economic anxiety"?

Weren't you the one saying that SVB failed because of crypto bros?  roflmao

[Landslide Lyndon]

As a fiduciary, a bank's primary duty is to the management and care of assets (i.e., deposits) under its control.  This means operating solely to maximize returns for your investors, not throwing money at feel-good ESG and DEI initiatives.  Biden's SEC seems to have forgotten that.  

Do you have the slightest idea why this bank failed or is this just another excuse to flaunt your "economic anxiety"?

Weren't you the one saying that SVB failed because of crypto bros?  roflmao

No, it wasn't me. Try again.

[Wrong about 2024 Ghost]

Here's their (apparently not updated as of 3/14/23) leadership team:

https://www.svb.com/leadership

They look like a Roublican House caucus.

[OSR stands with Israel]

They literally didn’t have a chief Risk Officer .

https://twitter.com/unusual_whales/status/1635596382802247681

[OSR stands with Israel]

As a fiduciary, a bank's primary duty is to the management and care of assets (i.e., deposits) under its control.  This means operating solely to maximize returns for your investors, not throwing money at feel-good ESG and DEI initiatives.  Biden's SEC seems to have forgotten that. 

Why do you view those goals as incompatible?

One of the principles of ESG was to change corporate culture from primarily being about maximizing returns which is extremely problematic for a bank given that is their sole responsibility.

[MasterJedi]

They literally didn’t have a chief Risk Officer .

https://twitter.com/unusual_whales/status/1635596382802247681

And used Trump’s law to stay below the threshold. As always, lack of regulation brings lots of fraud.

[DrScholl]

Anti-wokeness is just another version of blaming minorities for everything that goes wrong.

[Mr.Bakari-Sellers]

No it's based on Corporate Greed

[SWE]

The Republican Party will never run a candidate as smart and well spoken as Trump was ever again

[Santander]

He's in for a rude "awokening" when he finds out blaming everything on wokeness won't even get him through a Republican Presidential primary.

[Progressive Pessimist]

Let me just say, Rat, I really appreciate that a Republican is getting irritated with how nebulous and all-encompassing "wokeness" has become as a boogeyman for the right. I wish there were more Republicans like you.

[Benjamin Frank]

As a fiduciary, a bank's primary duty is to the management and care of assets (i.e., deposits) under its control.  This means operating solely to maximize returns for your investors, not throwing money at feel-good ESG and DEI initiatives.  Biden's SEC seems to have forgotten that.  

Why do you view those goals as incompatible?

One of the principles of ESG was to change corporate culture from primarily being about maximizing returns which is extremely problematic for a bank given that is their sole responsibility.

There is no clear definition of what things to focus on that constitutes ESG, however, they all focus on maximizing returns, but in the longer run, not just a sole focus on the next quarter.

For a hyperbolic example, if a bank's highest immediate rate of return is loaning out to Hitman Incorporated or Lime Body Disposal, that might be great for immediate profits, but not so great in the long run.

[100% pro-choice no matter what]

They literally didn’t have a chief Risk Officer .

https://twitter.com/unusual_whales/status/1635596382802247681

That's because they were run by dumb Silicon Valley techbros, not because the Woke Police made them hire a Chief Gender Officer.