SVB Gave $74 Million to Black Lives Matter. It Explains a Lot About the Bank’s Collapse

Newsdesk International

In the wake of the collapse of the 16th largest bank in the U.S., many are speculating as to what led to the sudden, spectacular downfall of Silicon Valley Bank. Some have pointed to a faulty risk management strategy, while others have blamed a classic bank run. Still others have blamed the company’s commitment to Democratic causes like diversity, equity, and inclusion (DEI) as the culprit; in a particularly spicy take in the Wall Street Journal, Andy Kessler suggested that the company’s pride in the makeup of its board—”SVB notes that besides 91% of their board being independent and 45% women, they also have ‘1 Black,’ ‘1 LGBTQ+’ and ‘2 Veterans'”—may have been the real culprit.

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