Posted on 03/15/2023 9:30:05 AM PDT by Angelino97
Woke Silicon Valley Bank donated over $73 million to Black Lives Matter-related social justice groups in the years before it collapsed, while failed Signature Bank gave $850,000, it has been revealed.
A database by the conservative Claremont Institute shows that SVB donated around $73,450,000 to the movement and other social-justice related causes as it worked to increase its Environmental, Social and Governance rating.
Meanwhile, New York-based Signature Bank donated a total of $850,000 over several years before it failed on Sunday.
The money was used to fund Black Lives Matter demonstrations and contributed to the organization's political action committee focused on electing progressive leaders, the Claremont Institute reports.
The revelation comes as the banks are derided for being too woke and not focused enough on the red flags at their companies.
Both banks had touted their efforts to improve diversity among their staff and address social issues.
In the summer of 2020, Silicon Valley Bank pledged to increase its commitment to 'diversity, equity and inclusion.'
And in a report at the time, CEO Greg Becker said SVB had an employee matching program for donations that focused on 'pandemic-response, social justice, sustainability and supporting women, black and Latinx emerging talent and other underrepresented groups.'
The company's 2021 proxy statement to investors also noted: 'The calls to end systemic racism and social inequities following the death of George Floyd in May 2020 had a profound global impact.
(Excerpt) Read more at dailymail.co.uk ...
Barney Frank was on the board of Signature Bank!
These places are just turning into money laundromats.
73 million will fund a lot of riots.
Be very careful about where you deposit your money.
How is the fiduciary responsibility of the bank served by such donations?
This is why dems are on board for ESG.....Investors will get wiped out ,but their money went for good ESG causes.......Dems don’t care if investors lose everything...They will make sure their money is safe...Everyone in this country should be able to see where dems put their money in banks and investments.....
“No need for comment.”
I know, but I have to make a comment. The stock and bond holders got robbed. I was always told to maximize shareholder value was the process of a corporation.
Now buying self-righteousness and superduper fake gold stars is all the corporations think is value added.
You know, alienating everyone else for a small group is just stupid, but corporations HR and ESG departments are just followers of the garbage they were taught.
All the shareholders and bondholders of those banks, international, national and regional who have plied the nonsense with free money, and forgotten WHY they are banks are about to get hammered.
Yes, outrageous. I think i saw it on TCT.
The rationale has long been that corporate donations earn public goodwill, which attracts investors and customers.
Of course they did..big shock..NOT..go woke go broke..you can damn well bet they wont be demanding their money back
Money laundering
And we will pay for it. Business as usual.
Will a law suit follow?
SVB and other liberal-led banks and lenders, were no doubt, the leading candidates for the distribution of reparations being contemplated by Newsome. Easy come, easy go, as long as it’s always other=people’s=money being used.
SVB is the bank equivalent of liberal governments everywhere, where they know they won’t be held accountable, and in fact, will become candidates for higher office or bigger things.
Was SV Bank FDIC insured?
I guess “they meant well”. But it didn’t work out very well, did it?
Sounds like SVB was just a Uniparty pyramid scheme.
Why is a bank donating any money to anything?
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