What They’re HIDING About a Bank’s Collapse Will Shock You

Silicon Valley Bank (SVB), a key donor to the activist group “Black Lives Matter,” recently experienced the second-largest bank collapse in U.S. history.

The Federal Deposit Insurance Corporation (FDIC) intervened, shutting down the bank and leaving several businesses at risk. However, the Biden administration, led by President Joe Biden and Treasury Secretary Janet Yellen, has provided financial support for the bank, cautiously avoiding the term “bailout.”

Despite their careful wording, Neil Barofsky, the former Obama administrator who managed the Troubled Asset Relief Program, confirmed that this support constitutes a bailout.

According to the Claremont Institute, SVB had committed around $74 million to “Black Lives Matter” and its affiliated groups. With accusations of corruption and financial mismanagement surrounding the activist group, questions arise about the bank’s priorities.

Will Hild, executive director of Consumers’ Research, argues that SVB’s failure is another example of a company prioritizing woke activism over customer security. Companies that focus on Environmental, Social, and Governance (ESG) scores and woke politics often underperform in serving their customers.

The Biden administration’s bailout of SVB sets a concerning precedent, encouraging banks to support left-wing causes and potentially creating a domino effect in the industry. This moral hazard could facilitate the administration’s ESG and Diversity, Equity, and Inclusion (DEI) initiatives’ infiltration into the core of American capitalism.