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2023-03-18 -Lurid Crime Tales-
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SVB loaned millions to startups making greenie things no one wanted
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[American Thinker] Is there anything more ... Soviet ... than a bank that lends money to companies making things no one wants to buy?
That's the missing puzzle piece we needed on why Silicon Valley Bank went belly up, and Kimberly Strassel of the Wall Street Journal has found it, persuasively arguing that yes, the failure of the bank was indeed premised on ESG, which descended into wokester lending priorities, creating the abnormal conditions that left the bank ripe for a meltdown.
In a non-firewalled piece featured at the top of Real Clear Politics: she writes:
"We serve those creating positive environmental change," SVB’s website brags, noting that the bank worked with some 1,550 companies in the "climate technology and sustainability sector."
Skipping down to the end -
And that's on Joe Biden for creating the conditions that led to this situation -- from easy money, allocated for greenie projects in huge spending juggernauts, and easy money printed out to "pay for" all that green wokery, prompting rate hikes to beat back the inflation that followed. That's Biden on both ends of the problem, and opportunistic wokesters taking advantage of the incentives he laid out for them.
Circle of life, man. 
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Posted by Bobby 2023-03-18 10:01||
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File under: Tin Hat Dictators, Presidents for Life, & Kleptocrats
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Posted by trailing wife 2023-03-18 12:34||
2023-03-18 12:34||
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Posted by JohnQC 2023-03-18 16:47||
2023-03-18 16:47||
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