I read an article last week how the SVB risk leader was more focused on woke policy enactment and increasing d and I initiatives than actually looking at and studying and advancing financial areas and policies of the bank. Anyone reading this post who works at Bank of America already knows what popped into my brain. I guess BoA might be a domino in the bank line after all. Sharpen your resumes people….
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@1bhr+1lCUTHv3 this is true, but SVB prioritized hiring a DEI officer over hiring a Chief Risk Officer. How'd that work out for them?
The executive in charge of DEI is not responsible for running the bank and making banking decisions.
People who had never heard of SVB 3 days ago are suddenly experts on how executives in their UK subsidiary spend their time at work based on a blurb on a website. OK
Using the term “woke” as you did shows how effective the Fox News disinformation machine creates false narratives among impressionable sycophants.
Or another scenario. The big banks buy all the smaller banks and we only have like three banks left which would be bad for customers and also bad for employees (since you only have a few potential employers) but good for those up top I guess.
You obviously don’t know anything about dominos. Let me educate you and those who liked your comment: see, in dominos one action creates another reaction and so on. It builds momentum and creates more powerful designs and collisions. YouTube dominos. As we have seen in the past few days the momentum builds from one bank to the next because of the interconnected nature of the financial economy. What do you think happens when all the banks connected with Bank of America collapse to its own prospects, bottom line, future, your job? Or do you think Bank of America exists in a bubble isolated from the rest of the banking world? In other words, if you don’t think Bank of America CAN be a domino you my friend sadly don’t know anything about banking. Mic drop. Dances on mic. Goes Nyah Nyah Nyah.
If you think that BofA would be a “domino” then your job probably has nothing to do with banking.
Nope.
SVB got greedy pursuing higher yields via longer term investments when investing its deposits...then paid the price when rate went up and they were stuck with all those long term bonds.
Except the "woke," themselves, coined the term.
"Woke" is a phony term that is fed to the cult to distract and trigger their insanity so they don't realize their failed party has no actual policies for the country.
This is correct.
Before people get too upset: The problem here is focusing on DEI so much that not enough energy is spent running a bank.