DeSantis blames SVB collapse on wokeness

[หมูเด้ง]

It seems like he’s trying to use “woke” in the way that Lee Atwater’s “abstract concepts” was used after you couldn’t say the N-word anymore.

[Trump Is A Maoist]

DeSantis is a paper tiger at the national level. It's more and more apparent every day.

[Comrade Luanne Platter]

I mean, the candidate you so proudly endorse in your signature did pretty much say that 'Wokeness' is one of the defining issues of our time. It isn't just DeSantis... It's your whole party, top to bottom and your leaders parrot it cause they know the base (the majority) eat it up.

[SevenEleven]

A noun, a verb, and “woke.”

Was gonna say this but you beat me to it.

[Darthpi - Crush the Oligarchy]

The far right is really getting lazy with their bigotry, tbh.

[○∙◄☻¥tπ[╪AV┼cVê└]

They literally didn’t have a chief Risk Officer .

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

You don't need a chief risk officer to know that bonds decline in value when interest rates go up.

[Yoda]

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.

I don't know if I believe that but I do believe that if republicans end up having a bloody, scorched-earth primary (and let's face it, with trump in the mix that is guaranteed) and the economy is still in great shape, Biden is going to cruise to reelection whether it's trump or desantis.

[Jumped off the American Sinking Ship]

I can't wait to go to the woke bank to get vegan gluten free biodegradable dollar bills to shove up my ass and then use to pay for avocado toast

-what these people genuinely think the average californian is like

[インターネット掲示板ユーザー Punxsutawney Phil]

I'm willing to believe emphasis on Woke in the corporate structure distracted them, and DeSantis has a point there. But he goes way too far of what can be fairly said here.

[Yoda]

I'm willing to believe emphasis on Woke in the corporate structure distracted them, and DeSantis has a point there. But he goes way too far of what can be fairly said here.

SVB had a ton of money in 10 year Treasuries that they couldn't/can't access when they needed it. That has nothing to do with any kind of woke in the corporate structure. They made a very bad decision with managing their assets. Giving one ounce of credence to DeSantis's asinine musing here is one ounce too much.

[Dr. MB]

These  woke liberal Marxist banks are really ruining our economy. There is a simple solution. They must be made illegal. Instead I think we should have a nationalized bank that works for the people. It's the only way to stop the wokeification of banking and stop America from turning into a communist country.

[Sir Mohamed]

And some people think this moron would make a great prez. Lol

[○∙◄☻¥tπ[╪AV┼cVê└]

These  woke liberal Marxist banks are really ruining our economy. There is a simple solution. They must be made illegal. Instead I think we should have a nationalized bank that works for the people. It's the only way to stop the wokeification of banking and stop America from turning into a communist country.

Very Republican North Dakota got the memo and opened a state owned bank.

[インターネット掲示板ユーザー Punxsutawney Phil]

I'm willing to believe emphasis on Woke in the corporate structure distracted them, and DeSantis has a point there. But he goes way too far of what can be fairly said here.

SVB had a ton of money in 10 year Treasuries that they couldn't/can't access when they needed it. That has nothing to do with any kind of woke in the corporate structure. They made a very bad decision with managing their assets. Giving one ounce of credence to DeSantis's asinine musing here is one ounce too much.

I stand unmoved. Truth be told, if they decided to go hardcore anti-liberal, the problem would be exactly the same except they chose to, politically, distract themselves from their corporate duties in the opposite direction.
We know SVB had bad corporate governance. A board that is overly focused on political matters is of course going to have a higher chance of failing to do their actual job, and this is not about it being political as opposed to it being not-their actual job. This is basic stuff.
EDIT: Remember also that the most effective lies have an element of truth in them. Critical thinking isn't something most people do on a high level when politician says X or Y. If DeSantis says the company's higher ups  were more focused on being woke than doing their job (believable) that does not prove him a reliable arbitrater of truth. It only shows his acumen, or lack thereof, as a politician.

[Yoda]

I'm willing to believe emphasis on Woke in the corporate structure distracted them, and DeSantis has a point there. But he goes way too far of what can be fairly said here.

SVB had a ton of money in 10 year Treasuries that they couldn't/can't access when they needed it. That has nothing to do with any kind of woke in the corporate structure. They made a very bad decision with managing their assets. Giving one ounce of credence to DeSantis's asinine musing here is one ounce too much.

I stand unmoved. Truth be told, if they decided to go hardcore anti-liberal, the problem would be exactly the same except they chose to, politically, distract themselves from their corporate duties in the opposite direction.
We know SVB had bad corporate governance. A board that is overly focused on political matters is of course going to have a higher chance of failing to do their actual job, and this is not about it being political as opposed to it being not-their actual job. This is basic stuff.
EDIT: Remember also that the most effective lies have an element of truth in them. Critical thinking isn't something most people do on a high level when politician says X or Y. If DeSantis says the company's higher ups  were more focused on being woke than doing their job (believable) that does not prove him a reliable arbitrater of truth. It only shows his acumen, or lack thereof, as a politician.

This is literally nonsense. It's not "believable" to any rational person that the company's higher ups were so focused on the board having one none-white person with a penis or trans-friendly bathrooms or whatever nonsense you're going with that they forgot to not do the stupid thing with the money.

[インターネット掲示板ユーザー Punxsutawney Phil]

I'm willing to believe emphasis on Woke in the corporate structure distracted them, and DeSantis has a point there. But he goes way too far of what can be fairly said here.

SVB had a ton of money in 10 year Treasuries that they couldn't/can't access when they needed it. That has nothing to do with any kind of woke in the corporate structure. They made a very bad decision with managing their assets. Giving one ounce of credence to DeSantis's asinine musing here is one ounce too much.

I stand unmoved. Truth be told, if they decided to go hardcore anti-liberal, the problem would be exactly the same except they chose to, politically, distract themselves from their corporate duties in the opposite direction.
We know SVB had bad corporate governance. A board that is overly focused on political matters is of course going to have a higher chance of failing to do their actual job, and this is not about it being political as opposed to it being not-their actual job. This is basic stuff.
EDIT: Remember also that the most effective lies have an element of truth in them. Critical thinking isn't something most people do on a high level when politician says X or Y. If DeSantis says the company's higher ups  were more focused on being woke than doing their job (believable) that does not prove him a reliable arbitrater of truth. It only shows his acumen, or lack thereof, as a politician.

This is literally nonsense. It's not "believable" to any rational person that the company's higher ups were so focused on the board having one none-white person with a penis or trans-friendly bathrooms or whatever nonsense you're going with that they forgot to not do the stupid thing with the money.

All that is needed for this remark of DeSantis to have some basis in fact is the SVB board devoting relatively more attention to woke than to what their actual job is supposed to be. I can't say for sure either way on that, but given how much they neglected the latter (intentionally or otherwise, I lean towards the former), it's a very easy test for the bank to pass. (A stress test, on the other hand...)

Why are you so intent on (unintentionally, I'm sure) giving the likes of DeSantis free passes? Fact is that it's incredibly easy for corporate to talk woke, especially in environments it is expected. It's an easy all talk no action strategy with free good PR in fashionable circles and it's something that is not exactly really weak in Silicon Valley either (with it being a rather unusually liberal place to begin with). People like Peter Thiel, who are on the opposite side of this divide, don't really sway things much against this.

I saw through these remarks from the very start. DeSantis is a culture warrior (it's what he's most familiar with and strongest on) and he's using the SVB issue to try to steal relevance from Trump. The correct tack here, imo, is to say "so what" if it comes up, accuse him of making inane remarks and exagerrated claims, and move on. SVB woke or not has zero to do with whether or not DeSantis is deserving of the presidency of the United States. Trying to contest literally everything a man says is just strategic stupidity. And so is letting him pick all your battles.

[Yoda]

I'm willing to believe emphasis on Woke in the corporate structure distracted them, and DeSantis has a point there. But he goes way too far of what can be fairly said here.

SVB had a ton of money in 10 year Treasuries that they couldn't/can't access when they needed it. That has nothing to do with any kind of woke in the corporate structure. They made a very bad decision with managing their assets. Giving one ounce of credence to DeSantis's asinine musing here is one ounce too much.

I stand unmoved. Truth be told, if they decided to go hardcore anti-liberal, the problem would be exactly the same except they chose to, politically, distract themselves from their corporate duties in the opposite direction.
We know SVB had bad corporate governance. A board that is overly focused on political matters is of course going to have a higher chance of failing to do their actual job, and this is not about it being political as opposed to it being not-their actual job. This is basic stuff.
EDIT: Remember also that the most effective lies have an element of truth in them. Critical thinking isn't something most people do on a high level when politician says X or Y. If DeSantis says the company's higher ups  were more focused on being woke than doing their job (believable) that does not prove him a reliable arbitrater of truth. It only shows his acumen, or lack thereof, as a politician.

This is literally nonsense. It's not "believable" to any rational person that the company's higher ups were so focused on the board having one none-white person with a penis or trans-friendly bathrooms or whatever nonsense you're going with that they forgot to not do the stupid thing with the money.

All that is needed for this remark of DeSantis to have some basis in fact is the SVB board devoting relatively more attention to woke than to what their actual job is supposed to be. I can't say for sure either way on that, but given how much they neglected the latter (intentionally or otherwise, I lean towards the former), it's a very easy test for the bank to pass. (A stress test, on the other hand...)

Babbling nonsense. Do you have any evidence that this is true? What is the right amount of attention to pay to woke? Can you find an example of a major national bank that doesn't have some kind of workforce diversity program? Why aren't those banks going belly up? These are common sense questions any critical thinker would have when listening to DeSantis' statement.

Why are you so intent on (unintentionally, I'm sure) giving the likes of DeSantis free passes? Fact is that it's incredibly easy for corporate to talk woke, especially in environments it is expected. It's an easy all talk no action strategy with free good PR in fashionable circles and it's something that is not exactly really weak in Silicon Valley either (with it being a rather unusually liberal place to begin with). People like Peter Thiel, who are on the opposite side of this divide, don't really sway things much against this.

Word salad here. You're throwing around a lot of nonsense about "woke" and silicon valley and PR.

I saw through these remarks from the very start. DeSantis is a culture warrior (it's what he's most familiar with and strongest on) and he's using the SVB issue to try to steal relevance from Trump. The correct tack here, imo, is to say "so what" if it comes up, accuse him of making inane remarks and exagerrated claims, and move on. SVB woke or not has zero to do with whether or not DeSantis is deserving of the presidency of the United States. Trying to contest literally everything a man says is just strategic stupidity. And so is letting him pick all your battles.

All I can say here is to take your own advice. You've picked literally the dumbest assertion so far this year in politics, from a cynical, fascist bully and you're throwing yourself on a sword to argue that what he is saying is factually true in spite of himself, b/c if it wasn't true SVB would still be solvent. An absurdly asinine argument and a weird one to boot.

[インターネット掲示板ユーザー Punxsutawney Phil]

snip

Have you seen the posts from blue avatars in this thread? They didn't even have a Chief Risk Officer for a fairly sizable amount of time. They ran a flimsy corporate environment for years based on a bad business model. I could get in more detail about this from what I've heard from others, but gist of it is that they operated on a bad lending model that left them with bad liquidity. Perhaps they devoted time to corporate governance in good faith, I can't say either way on that. Fact is that they didn't do a good job at it. You are hyperfixating on the wokeness part being "disproved". That's not it. DeSantis, imo, takes a believable statement "wokeness hurt the bank" and expands it far beyond what facts can possibly justify. In fact, anti-woke people are most directly responsible for dealing the vulnerable bank a killing blow (and by that I mean Peter Thiel and his friends).

In any case, re: Silicon Valley, I happen to agree with lfromnj in that the "DEI training" industry is not helpful as a whole. He's better informed on that topic than I am. From what I've heard: Anyone who's worked for Google for long enough periods of time has probably sat through useless wokeness-inspired diversity and training lessons that don't do real good. Corporations use woke causes, both good and bad ones, to help their PR and if you don't recognize that, you are blind. I mentioned voting patterns in Silicon Valley because they certainly have some level of influence here insofar as to the corporate culture you find. Compare to, say, the oil patch in West Texas.

As for the "dumbest talking point in politics" line...you don't understand that you and many other people like you are being used by the likes of DeSantis to boost his own political brand or at least try to. It's an outrage business model that Trump, Boebert, and Taylor Greene all used.

Liberals in this day and age tend to create their own worst enemies. Outrage addicts on both left and right using Twitter, biased news sites, and other sources and looking for comic book realities and easy-to-understand infotainment in the political sphere and politicians telling people what they want to hear, with all this fueled by social media that is more addictive than nicotine. DeSantis knows how the game is played. You're right that he's cynical. And he's right to think that cynical generally works; and part of why it works is because silly statements can be picked up and milked for outrage by people trying to make politics more entertaining and that is what we tacitly accept. Politics as a reality show. That's how we ended up with Trump as president and might end up with him being President again in 2024.

Hopefully Biden gets re-elected and politics gets more boring.

[MasterJedi]

Have a feeling Trump is going to hit DeSantis on being too woke about woke.

[หมูเด้ง]

Have a feeling Trump is going to hit DeSantis on being too woke about woke.

They found an easy and effective replacement to the N-word and now they are  going to max this out.

[Rat]

I mean, the candidate you so proudly endorse in your signature did pretty much say that 'Wokeness' is one of the defining issues of our time. It isn't just DeSantis... It's your whole party, top to bottom and your leaders parrot it cause they know the base (the majority) eat it up.

I'm well-aware of that and have been quite critical of Haley on that. My endorsement of her isn't a "proud" endorsement, I acknowledge she's quite flawed in her own right, but she's the best option of the candidates in the race or likely to get in right now (Trump, DeSantis, Pence, Pompeo) and so its an unenthusiastic but pragmatic endorsement. I'd much rather have another option or for her to not jump into the whole "war on woke" trend, but it is what it is. She hasn't made it core to her identity as a politician like DeSantis has, at least.

[DaleCooper]

DeSantis is a paper tiger at the national level. It's more and more apparent every day.

At this point I actually think he's a much easier opponent than Trump. For a while when he was putting up the competent conservative Governor performance with the occasional culture war "victory" here and there for the base, I was pretty certain he could lead the Republicans to a trifecta but now I think it's very possible that if he's the nominee (which will only happen if Trump dies or ends up bedridden or in a wheelchair) the Democrats could regain their trifecta. He's that bad.

[LostFellow]

snip

snip

Honest question: do you have experience with or have you talked extensively with folks who work in tech or finance? My impression from reading your comments is that you don't, but I could be wrong. Finance and banking is decidedly non-woke behind closed doors, and tech is maybe 10% of employees who are very into ostentatious progressive causes, and 90% who are ambivalent.

Sure, the "people team" at firms like Google adding DEI trainings that lack nuance have a woke orientation, but such aspects are completely irrelevant to the C-suite and most of upper/middle management. And moreover, even trying to compare DEI at consumer-facing big tech like Google to a smaller b2b firm that doesn't deal with public clients doesn't make sense. Everyone in the industry knows that most diversity initiatives are borne out of market analysis of resulting increased consumer demand and/or just following the metagame so that you don't weirdly stand out for not having them, so companies like SVB that only work with business clients and also are in a sector where DEI is less common (banking vs. tech) has much less reason.

There's a reason George Santos lied in his history about being a portfolio manager at Goldman Sachs. The banking industry does not spending the whole day on woke initiatives, and Republican voters in the NYC metro area understand that (kind of ironic considering Santos's drag history, but I degress). Unironically this is another reason why I believe Desantis to be much more popular among the Republican base the South than in areas like the Northeast.

[Trump Is A Maoist]

now I think it's very possible that if he's the nominee (which will only happen if Trump dies or ends up bedridden or in a wheelchair) the Democrats could regain their trifecta. He's that bad.

At this point, I could see Kamala Harris winning a general election against him.

[Meclazine for Israel]

I had a look at UBS and Credit Suisse websites today, and they were all woke and inclusive. I know what Ron is referring to.

They had anti-slavery policies and diversity and whistleblower policies front and centre. Articles about ideal life balance where you do little to no work and love everyone endlessly. It was literally aimed at rich housewives with 7 different coloured rubbish bins.

It's a bank website, not a platform for liberal web design teams to make their very own version of CNN.

Just give me the interest rate on my saving and on my loans. That's it.

After extensive digging, the UBS savings interest rate was 0.1%.