The collapse of SVB bank is the second largest bank collapse in US history. It’s stock price lost 90% of its value in less than 48 hours. Most of the depositors and their deposits are uninsured. People are going to lose billions. Just who was in charge of this place?

The CFO was Joseph Gentile. He was the CFO of Lehman Brothers when they failed.

The Board of Directors is filled with diversity hires who are there because of their woke credentials. They all have pronouns in their bios, which are filled with corporate newspeak. The Head of Financial Risk and Model Risk Management was this nutbag:

This is what happens when you allow people to manage your money based on woke principles instead of on their actual skill and competence. I hope the depositors at this failed bank enjoy all of that diversity, because diversity is your strength, eh?

Get woke, go broke.


SD Plissken · March 11, 2023 at 2:39 pm

Fuck those Long March bankster Bolshevik traitors and their Big Tech fellow travelers.
Let them eat…neckmeat.

Gryphon · March 11, 2023 at 2:56 pm

Given that the bigger depositors in this ‘bank’ are ‘insiders to the Grift’ and ‘woke’, I think what will happen is the (((federal reserve nottabank))) will simply Print whatever it takes to make the depositors Good, regardless if their other Scam, the (((federal deposit not-a-insurance ‘corporation’))) has the ‘funds’ to cover it… And Damned for Sure, that ‘agency’ will tell the Small Depositors to go Pound Sand “Here’s your $100K on your $2 Million Deposit… because, Rules.

It's just Boris · March 11, 2023 at 3:05 pm

So long as people are, first and foremost competent at their jobs, the rest of it is none of my business. I don’t really care if the C-suite types are gay / lesbian / *, furry, whatever, so long as they don’t try to make me care, and so long as they keep things professional. This clearly … is not the case with at least one person at SVB.

Vitaeus · March 11, 2023 at 3:23 pm

The CFO of Lehman got another job at a bank? Yhgtbsm! But not really a surprise, is it?

    Divemedic · March 11, 2023 at 4:52 pm

    It’s a big club, and you’re not in it.

    It's just Boris · March 11, 2023 at 5:37 pm

    Brought to mind the bank in Despicable Me:

    Bank of Evil (formerly Lehman Brothers)

Elrod · March 12, 2023 at 3:27 am

Jay Ersapah – biological he, she or it?

Seems a worthwhile reminder that it might be appropriate to minimize one’s exposure, regardless of which financial institution one patronizes or for what. Used to be that patronizing multiple institutions to diffuse the risk was a wise move; these days, I’m not so sure that’s still a viable strategy, unless one also incorporates overseas “hard currency” options.

    Joe Blow · March 12, 2023 at 7:07 am

    Sometimes they DO ring a bell at the top….

D · March 13, 2023 at 9:42 am

The depositors won’t have to worry about it. The feds will just steal money from you and I to pay them back. They are slowly trying to eliminate “vote with your wallet”.

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