Did Woke Policies Help Lead to the Collapse of Silicon Valley Bank?

Did Woke Policies Help Lead to the Collapse of Silicon Valley Bank?

ABOVE: Silicon Valley Bank offices in Tempe, Arizona


SEE: https://pjmedia.com/news-and-politics/rick-moran/2023/03/12/did-woke-policies-help-lead-to-the-collapse-of-silicon-valley-bank-n1677593;

Republished below in full unedited for informational, educational, & research purposes.

When the story of why Silicon Valley Bank was taken over by the FDIC is written, the role played by policies that sacrificed fiduciary responsibility for wokeness should be examined.

Home Depot co-founder Bernie Marcus is hardly a right-wing nut or a religious fanatic. He’s a hard-headed businessman who’s disgusted with the Biden administration’s emphasis in the financial sector on DEI.

“These banks are badly run because everybody is focused on diversity and all of the woke issues and not concentrating on the one thing they should, which is shareholder returns,” Marcus said. “Instead of protecting the shareholders and their employees, they are more concerned about the social policies. And I think it’s probably a badly run bank.”

Recommended: The Woke Wrecking Machine

While SVB was circling the drain, Jay Ersapah, the boss of Financial Risk Management at SVB’s UK branch, launched woke initiatives, including the company’s first month-long Pride campaign and a new blog emphasizing mental health awareness for LGBTQ+ youth. “As a queer person of color and a first-generation immigrant from a working-class background, there were not many role models for me to ‘see’ growing up,” said Ersapah.

New York Post:

Her efforts as the company’s European LGBTQIA+ Employee Resource Group co-chair earned her a spot on SVB’s “outstanding LGBT+ Role Model Lists 2022,” a list shared in a company post just four months before the bank was shut down by federal authorities over liquidity fears.

In addition to instituting SVB’s first “safe space catch-up” — which encouraged employees to share their coming out stories — and serving on LGBTQ+ panels around the world, Ersapah also spent time over the last year serving as a director for Diversity Role Models and volunteering as a mentor for Migrant Leaders.

The bank was abruptly shut down after it revealed that it had taken a $1.8 billion loss from a $21 billion sale of its bond holdings. When the company was unable to raise enough cash, the federal government closed its doors.

Bernie Marcus felt sorry for depositors who lost almost everything. “They’ve been there for a lot of years. It’s pathetic that so many people lost money that won’t get it back.”

Meanwhile, for eight months, SVB did not have a chief financial risk officer. From April 2022, when Laura Izurieta left the job, to January 2023, when Kim Olson was hired, the company had no one whose ultimate responsibility was to gauge risk.

But it’s the woke policies, epitomized by Ersapah’s preoccupation with her image as an LGBTQ crusader, that drew a lot of criticism.

Daily Mail:

One Facebook user, Paul Tucker, wrote: ‘The [SVB] 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: Jay Ersapah.

‘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?’

He signed off the post: ‘Get woke, go broke.’

Obviously, there were many factors that led to SVB’s collapse, woke policies being only one of them. Unfortunately, it’s going to take a lot more than one bank going under to turn the tide against DEI in corporate America.

Stanford Law School Descends Into Barbarism


Tirien Steinbach, the Stanford University Law School associate dean of Diversity, Equity, and Inclusion, slams U.S. Circuit Court Judge Kyle Duncan during his presentation at the school as an invited guest on March 9, 2023.

Blood-boiling moment woke Stanford law school students taunt conservative judge invited to speak there - before dean of 'equity' ambushes him with pious speech accusing him of 'harm'


SEE: https://pjmedia.com/culture/robert-spencer/2023/03/11/stanford-law-school-descends-into-barbarism-n1677480;

Republished below in full unedited for informational, educational, & research purposes.

America, these are your lawyers of tomorrow. When the Federalist Society at Stanford Law School, one of the nation’s most elite law schools, invited Fifth Circuit appellate judge Stuart Kyle Duncan to speak, the budding attorneys could have had a thoughtful discussion of controversial issues with someone who doesn’t share their point of view. Duncan drew Leftist ire in 2020 when he refused to pretend that a male sex offender was a woman, as he had claimed to be. He has also taken other positions that are simple sanity but are represented today as “conservative.” Instead of engaging Duncan in a lively debate, however, Stanford’s future lawyers became a howling, slavering mob, refusing to allow Duncan to speak as the school’s associate dean of diversity (yes, really) lectured him for daring not to be a Leftist. These people will soon be lawyers, and then, God help us.Tirien Steinbach, Stanford’s associate dean for diversity, equity, and inclusion, is captured on video acting anything but “inclusive” toward Duncan. But of course, we all know that when Leftists speak about “inclusion,” they mean the inclusion of people of all races (except whites), all genders (all 73 of ‘em), and all beliefs that are thoroughly Leftist and in line with contemporary Leftist sensibilities. Diversity is sought after, prized, and celebrated, except for diversity of thought, which is to be vehemently rejected.

And so when Duncan, facing the mob of alleged law students, asked Steinbach to restore order, she then took to the podium and began lecturing the judge, saying: “Your opinions from the bench land as absolute disenfranchisement” of the rights of students. When Duncan tried to respond, the mob screamed, “Let her finish,” a courtesy they never accorded to Duncan himself. Steinbach went on to repeat, “Your work has caused harm.”

Steinbach even accused Duncan of “tearing the fabric of this community” and asked him, “Do you have something so incredibly important to say about Twitter and guns and COVID that is worth this impact on the division of these people, who have sat next to each other for years, who are going through what is the battle of law school together?” About the mob’s refusal to let Duncan speak, Steinbach declared, “I look out and I don’t ask what is going on here, I look out and I say, I’m glad this is going on here.” She then left, to tumultuous applause, and the students walked out behind her.

Duncan is mincing no words about what happened. The protesters, he said in a Washington Free Beacon interview that was published Friday, acted like “dogs**t.” He wants Stanford to discipline the students who wouldn’t allow him to speak and to fire Steinbach for what he described as her “bizarre therapy session from hell.” But Steinbach’s job is likely secure. While Stanford Law School Dean Jenny Martinez claimed that the disruption of Duncan’s speech was “not aligned with our institutional commitment to freedom of speech,” she said nothing even about any students, much less Steinbach, getting disciplined.

Related: Stanford’s ‘Elimination of Harmful Language Initiative’ Is Unintentionally Hilarious

What’s more, Martinez’s claim that Stanford has a commitment to the freedom of speech is risible. When I spoke at Stanford in 2017, the Stanford student press conducted a weeks-long smear campaign in the run-up to the event. Then, at the event itself, I had spoken for just a few moments when the students got up and walked out en masse; video showed that Nanci Howe, associate dean and director of Student Activities and Leadership, and Snehal Naik, who was then assistant dean and associate director of Student Activities and Leadership and is now senior director of the Office of Student Engagement, engineered the walkout. All these years later, Naik is still at it; he is shown prominently in the video of Steinbach hectoring Duncan as the fascist mob howls.

Stanford students even point to the disruption of my event as a model that students should follow. As recently as March 3, the Stanford Review published an article entitled “Apathy Descends on Stanford,” which hailed the efforts to prevent me from speaking as a high point in Stanford’s recent history: “Even just five years ago, people seemed to actually care. When the Stanford College Republicans (SCR) invited Robert Spencer, a self-proclaimed Islamophobe,” (that was ironic, genius), “to speak about radical Islam on campus in 2017, he was met with wide-scale protest by the campus left, to the extent that President Marc Tessier-Levigne addressed the tension in a blog post. SCR was equally dedicated, going through dorms to flyer numerous times to combat their opponents’ efforts to tear the flyers down.” The Stanford Left is proud of what it has done and is still doing to prevent those whom it hates and fears from speaking. There is no respect, at what is supposed to be an institution of higher learning, for the importance of the freedom of speech as the foundation of any free society. These people are authoritarians to the core.

Duncan warned that worse was to come: “If enough of these kids get into the legal profession, the rule of law will descend into barbarism.” Oh, yes.

Queer Non-Binary Muslim Rep Helped Lawbreaker Elude Cops

Just Another Day: ‘Queer, Non-Binary,' Sharia-Adherent State Rep Hid Trans Activist Who Assaulted Cop

Ok House censures State Rep. Mauree Turner

Just Another Day: ‘Queer, Non-Binary,' Sharia-Adherent State Rep Hid Trans Activist Who Assaulted Cop


SEE: https://pjmedia.com/culture/robert-spencer/2023/03/10/just-another-day-queer-non-binary-sharia-adherent-state-rep-hid-trans-activist-who-assaulted-cop-n1677255;

Republished below in full unedited for informational, educational, & research purposes.

How much craziness can be packed into one news item? It would be tough to top this one: a “queer, non-binary” Sharia-adherent Muslim who serves as an Oklahoma state representative has been censured after she attempted to harbor a fugitive who was on the run after assaulting a police officer.

Mauree Turner is currently the representative in the state House from Oklahoma’s 88th district. She calls herself a “Queer, Non-binary, Okie Muslim” and demands that she be referred to as “they,” but as there appears to be only one of her, I won’t be doing that. Her website states proudly that she is “the first Muslim elected in Oklahoma and the first non-binary person elected to a state-level position in US history.” In all of her photos, she wears a hijab, the head covering that is a sign of her adherence to Sharia, the Islamic law. There is absolutely no doubt that Mauree Turner is the first self-proclaimed “queer,” “non-binary” Sharia-adherent Muslim woman to hold any elected office anywhere in the world.

All that should have been distinction enough for a lifetime, but Rep. Turner is as energetic as she is inventive. She is also, as you likely already suspected, very far to the Left, so far that she apparently holds the police officers who enforce the laws she helps formulate in the state House in utter contempt. The Political Insider reported Thursday that Turner “has been accused of blocking police from making an arrest of a transgender rights activist accused of assault.”

It happened late in February, “as lawmakers were voting on legislation to protect children from ‘gender transition procedures’ or similar physical abuse.” One of Turner’s colleagues, state Rep. Bob Culver, “was hit with a ‘liquid substance’ later simply identified as water as he passed through a group of protesters.” As the person who threw the water was being arrested, another activist, Austin Ross, declared that the perpetrator was “not going to be placed under arrest,” and grabbed a cop’s hands to try to prevent the arrest. Ross then fled to Turner’s office.

When cops showed up to arrest Ross there, the door was locked. Highway Patrol Trooper Eric Foster recounted: “When we go up to the representative’s office, we were not allowed in, even from opening the door.” On Tuesday, Turner was censured for this by a resounding 81-19 vote. The Oklahoma House issued a statement on that same day, noting that Turner “harbored a fugitive wanted for questioning in conjunction with the alleged assault inside of their House office and rejected multiple requests by law enforcement to question the individual.” Oklahoma House Speaker Charles McCall added that “the inappropriate, and potentially criminal, actions exhibited by this member of the House were deserving of censure, and the actions taken by the House today were both measured and just.”

Related: The Trans Cult Will Never Stop Silencing the Opposition

As a result of the censure, Turner will lose her committee assignments unless she formally apologizes. She is, however, defiant, saying: “I think an apology for loving the people of Oklahoma is something that I cannot do. It’s something that I actively refuse to do.” So now helping someone who tried to prevent an arrest is “loving the people of Oklahoma.” This is the same sort of twisting of reality that is a constant throughout Turner’s life, from her gender confusion to her affectation of claiming to be “Black, Muslim, femme, queer” and sporting a hijab. The hijab is mandated for women in Islamic law, based on the Qur’an (24:31, 33:59). It is thus a visible symbol of one’s adherence to the tenets and teachings of Islam, which condemns homosexuality for both males and females, and mandates that female homosexuals be confined in their houses until they die (Qur’an 4:15), given one hundred lashes (Qur’an 24:2), or stoned to death (cf. Mishkat al-Masabih 3558).

Mauree Turner is thus living a lie in all kinds of ways. She is pretending to be “non-binary,” instead of acknowledging that she is a woman. She is pretending to be Sharia-observant, despite flouting the severe penalties it prescribes for the behaviors she proudly flaunts as her “queer” identity. She pretends to be a governing official, sworn to uphold the laws of the state while helping a lawbreaker evade punishment for breaking the laws of the state. Mauree Turner is, in sum, the contemporary Left personified, the veritable poster child for all its hypocrisy and fantasies. Despite this censure, watch for her star to continue to rise among Leftists. Ocasio-Cortez-Turner 2024!

Biden, Harris Say They’re Doing a Great Job Lowering Your Energy Bills


SEE: https://pjmedia.com/news-and-politics/rick-moran/2023/03/11/biden-harris-want-you-to-know-about-the-great-job-theyre-doing-lowering-your-energy-bills-n1677444;

Republished below in full unedited for informational, educational, & research purposes.

“I took the most aggressive action ever — in all of history in any country — to take on the climate crisis by lowering your home energy bills,” crowed Joe Biden during a speech touting his insane budget proposal. He might as well have claimed that he took “the most aggressive action ever — in the history of the universe” for all the truth there was in that statement.

The Republican National Committee was bewildered.

“Huh?” wondered the RNC. “Electricity is up 11.9%, fuel oil is up 27.7%, and natural gas is up 26.7% over last year.”

Not to be outdone, Vice President Kamala Harris had her own fantasy to share. On Feb. 24 during a speech at Bowie State in Maryland, Harris created a shopping list for Americans to buy stuff with all that money they were saving because of lower energy costs. “For working families, we have reduced heating and electricity bills so folks have more money in their pockets to buy things like school supplies, replace the dishwasher, or take a family vacation,” she said.

Can you take a family vacation on the difference between what gasoline cost in July and what it cost in February? Maybe you could ask your neighbor to put you and the kids up for a few nights. And what kind of dishwasher would you be able to buy?

Related: The Economic Case for Net Zero Is Zero

Our incurious and slavishly devoted media can’t rouse themselves to comment on the utter stupidity of both Biden’s and Harris’s flagrant lies.


“Gas prices are up $1.03 a gallon from when Joe Biden took office. Biden’s administration continues to undermine American energy,” RNC rapid response director Tommy Pigott tweeted at the time. “Families have lost $2,250 paying higher energy costs since he took office.”

In December, California Gov. Gavin Newsom called a special legislative session to tax California’s oil refiners while blaming them for the state’s high energy prices.

Both Harris and Newsom know damn well that people haven’t saved a dime in energy costs since Biden took office. And Newsom knows that refineries aren’t responsible for California’s sky-high energy costs. But even when there’s pushback on these ludicrous statements, the administration just trots out another flunkie to continue the lies.

If only excessive, serial repetition made it so. “Cost relief” is not slightly coming off highs your policies created. You shouldn’t be crowing about it as if you’d accomplished something” explained Hot Air’s Beege Welborn.

That’s straight out of the Joseph Goebbels playbook: “If you tell a lie big enough and keep repeating it, people will eventually come to believe it.”