GOP blames Silicon Valley Bank's collapse on 'ESG' policies. Here's what to know.

[applegrove]

GOP blames Silicon Valley Bank’s collapse on ‘ESG’ policies. Here’s what to know.
The investing world is being drawn into the culture wars and hit by a conservative backlash to “wokeism.”

By Julian Mark
Updated March 14, 2023 at 9:20 a.m. EDT|Published March 14, 2023 at 7:00 a.m. EDT

https://www.washingtonpost.com/business/2023/03/14/svb-esg-woke-investing/


"SNIP........

The recent implosion of Silicon Valley Bank escalated culture war arguments, as some conservative politicians who were already targeting certain investing approaches blamed the bank’s downfall on “woke” practices.

House Oversight Committee Chairman James Comer (R-Ky.) called SVB “one of the most woke banks” because of its “ESG-type” policies — a reference to environmental, social and corporate governance-driven investing that has been embraced by billion-dollar asset managers and scorned by conservatives of late.

Florida Gov. Ron DeSantis, widely believed to be gearing up for a 2024 presidential bid, said Sunday that Silicon Valley Bank’s diversity, equity and inclusion requirements “diverted from them focusing on their core mission.” And Monday, Fox News host Tucker Carlson said diversity and inclusion standards are why “big banks are now increasingly incompetent.”

.........

There’s no evidence that SVB’s sustainable investing or diversity initiatives contributed to its collapse

........SNIP"

[Faux pas]

1. I

have to laugh at all the right wing nuts. Has anybody ever asked them for their definition of "woke"? I bet they don't have one 🤔

[yonder]

6. I like DU'er RockRaven's definition from yesterday.

To paraphrase: “Woke is anything less than purposely, proactively and aggressively being a dickhead”

[Faux pas]

11. That

is excellent, to RockRaven. And thank you for sharing yonder! 😊

[Lovie777]

2. These f**kers are always blaming something but never take the responsibility............

that GQP is f**king up everything. GQP is the cause of so many problems the USA is having.

"Woke" would resolve so many of these problems. I am Woke.

[Fullduplexxx]

3. Well if it were for " wokeism" they would blame story hour by drag queens and eventually witches

I'm so sick of hearing them throw that meaningless word around. It won't be long till they're back to hanging people for being witches. Idiot Leaders catering to America's lowest common denominator.

[Walleye]

4. As if any of them could actually understand banking and the financial world

[bucolic_frolic]

5. Conservatives are deluded, they see causality where there is none

They try to blame things that they don't like on liberal ideas. They see Jesus everywhere therefore story hours in drag can twist kids' hormones and environmentally aware investing by banks - most of whom don't use ESG - causes bank insolvency. They see things that are not there. They are delusional.

[Ocelot II]

7. I didn't know drag queens were running that bank.

That explains it!

of course

[Turbineguy]

8. He has demolished the last vestige of the GOP's worth

that they are somehow good for business.

[Yo_Mama_Been_Loggin]

9. Comer is an idiot

[MissB]

10. The Daily (New York times) had a podcast yesterday

on ESGs and why the GOP hates them.